Heritage Foundation

Nonprofit profile at a glance

EIN
411275875
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Karlstad, MN, USA
Phone
2184362699
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$186,804
Expenses
$231,053
Assets
$134,708
Liabilities
$0

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

Leadership & pay

7 people listed

Highest reported compensation

  • MARK HANSON (ADMINISTRATOR): $15,015 total reported compensation

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

Overview

Mission

K-12 religious school

What it reported doing in 2024

Provide religious and secular instruction to an average of 40 K-12 students.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 100
  • Accountability: 74
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -23.7%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 0.58; rating input score 28; 28th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 6.5%; rating input score 32; 32nd percentile among comparable filings

Growth

  • Program expense growth: 2.5% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: 14.5% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $226K in reported program spending
  • Leadership: top reported pay $15K · 7 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Sustainability: Total-asset coverage ratio scored 28/100.
  • Moderate — Sustainability: Officer compensation ratio scored 32/100.