Great Hearts Florida Inc

Nonprofit profile at a glance

EIN
920285718
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Phoenix, AZ, USA
Phone
6024387045
Rating
31
Verdict
REVIEW
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$72,500
Expenses
$235,565
Assets
$4,134
Liabilities
$191,636

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • JAY HEILER (PRESIDENT)

Highest reported compensation

  • JAY HEILER (PRESIDENT): $456,750 total reported compensation
  • DANIEL SCOGGIN (SECRETARY): $382,530 total reported compensation
  • MATTHEW BUSHARD (TREASURER): $195,322 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To operate exclusively for the benefit of, to perform the functions of, or to carry out the purposes of its supported organization, greathearts america, a 501(c)(3) public charity.

Operating model

Revenue model
Affiliate-supported. 100% of the money available for current operations came from contributions from related organizations.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 74
  • Accountability: 42
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -224.9%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 0.02; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 46.36; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 84.8%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -128.8% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -110.1% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 3 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $457K · 4 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.