Heritage Academy of Science and Technology
Nonprofit profile at a glance
- EIN
- 364639826
- IRS 990 coverage
- 2013–2013
- Forms available
- Form 990 2013
- Location
- Minneapolis, MN, USA
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Interdisciplinary Research
Reported finances
- Revenue
- $2,542,338
- Expenses
- $2,498,899
- Assets
- $353,709
- Liabilities
- $338,054
Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.
Leadership & pay
8 people listed
Highest reported compensation
- ABDIRASHID ABDI (DIRECTOR): $72,462 total reported compensation
- KELLY MAYBERRY (SECRETARY): $36,621 total reported compensation
- MOHAMAD OSMAN (BOARD MEMBER): $23,333 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Heritage Academy of Science and Technology is committed to preparing students for academic success through leadership in science technology engineering, and math.
What it reported doing in 2013
The school provides academically rigorous and challenging curriculum that emphasizes science, math, and technology, creates positive school culture, and operates on the premise that strong family participation builds the youth so they can reach their full potential. The school has a strong parent involvement program. The school prepares graduates for success in high school, college, and beyond by developing strong and active individuals.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Total assets are small relative to annual expenses; liquid coverage is unknown and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 75
- Transparency & Controls: 100
- Accountability: 100
- Sustainability: 28
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 84.4%; rating input score 84
- Program expense ratio: 85.9%; rating input score 86
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 65th percentile among comparable filings
- Governance controls: 8 of 8 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- 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: 1.7%; rating input score 44; 44th percentile among comparable filings
- Total-asset coverage ratio: 0.14; rating input score 5; 5th percentile among comparable filings
- Liabilities to assets ratio: 0.96; rating input score 8; 8th percentile among comparable filings
- Officer compensation ratio: 5.3%; rating input score 43; 43rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 84.4% of revenue deployed · 85.9% of spending went to programs
- Governance: 7 of 7 board members independent · 8 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $2.1M in reported program spending
- Leadership: top reported pay $72K · 8 people listed
- Consistency: 22 of 22 current checks pass
- Schedules: 4 filed schedules
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Sustainability: Total-asset coverage ratio scored 5/100.
- Moderate — Sustainability: Operating margin scored 44/100.
- High — Sustainability: Liabilities to assets ratio scored 8/100.
- Moderate — Sustainability: Officer compensation ratio scored 43/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.