Heritage Schools Inc

Nonprofit profile at a glance

EIN
870514958
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Provo, UT, USA
Phone
8012264600
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Psychiatric Hospitals

Official website

Reported finances

Revenue
$21,934,188
Expenses
$22,089,230
Assets
$2,225,347
Liabilities
$5,682,094

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

Leadership & pay

16 people listed

Executive titles in this filing

  • KEVIN DOWNS (CHIEF EXECUTIVE OFFICER)
  • NEIL WALLACE (EXECUTIVE DIRECTOR)
  • BRAD FRY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JAMIS LEEPER (MEDICAL DIRECTOR): $243,055 total reported compensation
  • KEVIN DOWNS (CHIEF EXECUTIVE OFFICER): $237,264 total reported compensation
  • KEVEN CURTIS (CHIEF OPERATING OFFICER): $215,822 total reported compensation

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

Overview

Mission

The corporation shall operate a residential treatment facility in order to provide cost effective and high quality theraputic treatment to adolescents in a school setting.

What it reported doing in 2024

Residential treatment facility for psychiatric treatment of adolescents.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 100
  • Accountability: 92
  • Sustainability: 18
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78%; rating input score 78
  • Program expense ratio: 77.4%; rating input score 77
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • 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: 85.7%; rating input score 86; 19th 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: -0.7%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 0.1; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 2.55; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 1.8% per year; rating input score 100; 18th percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: -4.2% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 78% of revenue deployed · 77.4% of spending went to programs
  • Governance: 6 of 7 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $17.1M in reported program spending
  • Leadership: top reported pay $243K · 16 people listed · 6 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 10 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 17 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Sustainability: Operating margin scored 28/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.