Civic Intelligence

Great Hearts America

EIN 45-4306715 • 501(c)3 • Phoenix, AZ

Profile

Great hearts is a non-profit network of public charter schools dedicated to improving education nationwide through classical preparatory k-12 academies. A great hearts education prepares students to be more than just proficient test takers, but rather, to become great-hearted leaders capable of success throughout their higher education and professional careers. With a curriculum built upon a classical liberal arts tradition and a revolutionary approach to school itself, great hearts cultivates the hearts and minds of students in the pursuit of truth, goodness and beauty.

701 N 44th StreetPhoenix, AZ 85008

www.greatheartsamerica.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

86th percentile

0.75x

Higher debt load relative to assets than 86% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

74th percentile

0.64x

Higher debt load relative to revenue than 74% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

56th percentile

7.0%

Higher net margin than 56% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

89th percentile

$452,627

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

61st percentile

7.9%

Faster asset growth than 61% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

67th percentile

17%

Faster revenue growth than 67% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$16,051,826

Up $1,169,097 (+7.9%) from 2023

Liabilities

Down

$11,993,925

Down $146,381 (-1.2%) from 2023

Net Assets

Up

$4,057,901

Up $1,315,478 (+48%) from 2023

Operations
Liabilities / Revenue74th percentileNet Margin56th percentile

Revenue

Up

$18,763,863

Up $2,705,328 (+17%) from 2023

Expenses

Up

$17,450,805

Up $2,212,633 (+15%) from 2023

Net Income

Up

$1,313,058

Up $492,695 (+60%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth61st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0-$5.0MAssets 2013: $5,470Liabilities 2013: $416,2812013Assets 2014: $460,986Liabilities 2014: $1,502,424Net Assets 2014: -$1,041,4382014Assets 2015: $1,173,922Liabilities 2015: $2,488,384Net Assets 2015: -$1,314,4622015Assets 2016: $1,249,194Liabilities 2016: $2,651,218Net Assets 2016: -$1,402,0242016Assets 2017: $1,381,078Liabilities 2017: $458,465Net Assets 2017: $922,6132017Assets 2018: $3,593,645Liabilities 2018: $3,103,448Net Assets 2018: $490,1972018Assets 2019: $4,612,836Liabilities 2019: $4,052,303Net Assets 2019: $560,5332019Assets 2020: $6,043,670Liabilities 2020: $4,914,302Net Assets 2020: $1,129,3682020Assets 2021: $8,205,781Liabilities 2021: $6,787,743Net Assets 2021: $1,418,0382021Assets 2022: $11,428,841Liabilities 2022: $9,536,172Net Assets 2022: $1,892,6692022Assets 2023: $14,882,729Liabilities 2023: $12,140,306Net Assets 2023: $2,742,4232023Assets 2024: $16,051,826Liabilities 2024: $11,993,925Net Assets 2024: $4,057,9012024

Highlighted filing

2024

Assets$16,051,826
Liabilities$11,993,925
Net Assets$4,057,901
Open 2024 Filing

Operations Trend

Revenue Growth67th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MRevenue 2013: $10,000Expenses 2013: $420,811Net Income 2013: -$410,8112013Revenue 2014: $624,687Expenses 2014: $1,255,314Net Income 2014: -$630,6272014Revenue 2015: $2,167,903Expenses 2015: $2,440,927Net Income 2015: -$273,0242015Revenue 2016: $2,691,775Expenses 2016: $2,779,337Net Income 2016: -$87,5622016Revenue 2017: $4,570,697Expenses 2017: $2,246,060Net Income 2017: $2,324,6372017Revenue 2018: $2,760,862Expenses 2018: $3,195,784Net Income 2018: -$434,9222018Revenue 2019: $4,154,961Expenses 2019: $4,144,265Net Income 2019: $10,6962019Revenue 2020: $5,088,972Expenses 2020: $4,540,370Net Income 2020: $548,6022020Revenue 2021: $5,329,608Expenses 2021: $5,089,241Net Income 2021: $240,3672021Revenue 2022: $10,138,207Expenses 2022: $9,694,119Net Income 2022: $444,0882022Revenue 2023: $16,058,535Expenses 2023: $15,238,172Net Income 2023: $820,3632023Revenue 2024: $18,763,863Expenses 2024: $17,450,805Net Income 2024: $1,313,0582024

Highlighted filing

2024

Revenue$18,763,863
Expenses$17,450,805
Net Income$1,313,058
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$16,051,826
Liabilities
$11,993,925
Net assets
$4,057,901
Revenue
$18,763,863
Expenses
$17,450,805
Net income
$1,313,058
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.1$12.0$4.06$18.8$17.5$1.31
2023Summary only. Only limited summary data is available for this year.$14.9$12.1$2.74$16.1$15.2$0.82
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.4$9.54$1.89$10.1$9.69$0.44
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.21$6.79$1.42$5.33$5.09$0.24
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.04$4.91$1.13$5.09$4.54$0.55
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.61$4.05$0.56$4.15$4.14$0.01
2018Summary only. Only limited summary data is available for this year.$3.59$3.10$0.49$2.76$3.20$0.43
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.38$0.46$0.92$4.57$2.25$2.32
2016Detailed filing. Detailed filing data is available for this year.$1.25$2.65$1.40$2.69$2.78$0.09
2015Detailed filing. Detailed filing data is available for this year.$1.17$2.49$1.31$2.17$2.44$0.27
2014Detailed filing. Detailed filing data is available for this year.$0.46$1.50$1.04$0.62$1.26$0.63
2013Summary only. Only limited summary data is available for this year.$0.01$0.42$0.01$0.42$0.41
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$18,763,863
Mission and Program Overview

Mission

Great hearts is a non-profit network of public charter schools dedicated to improving education nationwide through classical preparatory k-12 academies. A great hearts education prepares students to be more than just proficient test takers, but rather, to become great-hearted leaders capable of success throughout their higher education and professional careers. With a curriculum built upon a classical liberal arts tradition and a revolutionary approach to school itself, great hearts cultivates the hearts and minds of students in the pursuit of truth, goodness and beauty.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$8,419,025$6,069,278▼ $2,349,747
Investments in Publicly Traded Securities$2,044,144$2,149,751▲ $105,607
Land, Buildings, and Equipment, Net$660,055$494,094▼ $165,961
Prepaid Expenses and Deferred Charges$444,970$299,380▼ $145,590
Total Assets$14,882,729$16,051,826▲ $1,169,097
Other Assets Total$3,314,535$7,039,323▲ $3,724,788
Liabilities
Accounts Payable and Accrued Expenses$12,123,267$10,907,238▼ $1,216,029
Deferred Revenue$17,039$1,086,687▲ $1,069,648
Total Liabilities$12,140,306$11,993,925▼ $146,381
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,742,423$4,057,901▲ $1,315,478
Total Net Assets Fund Balance$2,742,423$4,057,901▲ $1,315,478
Total Liabilities and Net Assets / Fund Balance$14,882,729$16,051,826▲ $1,169,097

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$276,808$119,070$395,878
Equipment$213,321$170,484$383,805
Other Land Buildings$3,965-$3,965
Other Assets Org$15,447--
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jay HeilerCEOFT$428,924$23,703$452,627
Daniel ScogginChief AcademFT$360,731$26,224$386,955
Daniel ScogginChief Academic Ofc-$360,296$26,659$386,955
Ron ZoromskiPrior CFOFT$228,098$18,479$246,577
Jarold TawneyVP CurriculuFT$223,435$22,524$245,959
Jarold TawneyVP Curriculum-$175,000$103,459$245,959
Marilyn PapkeVP BusinessFT$206,143$7,228$213,371
Marilyn PapkeVP Business Systems-$140,902$72,669$213,371
Jerilyn OlsonVP Faculty DFT$175,435$15,570$191,005
Jerilyn OlsonVP Faculty Developme-$175,000$16,005$191,005
Genevieve PetersonVP DevelopmeFT$185,730$3,842$189,572
Genevieve PetersonVP Development-$185,295$4,277$189,572
Keri CampbellSr Director Co-cuFT$164,135$21,537$185,672
Keri CampbellSr Director Co-curriculum-$131,200$21,772$185,672

Board Members and Trustees

NameTitle
Kurt DavisVice Chair
Jim RahnDirector
Megan BeusDirector
Steve WheelerDirector
Matthew BushardCFO

Highest Paid Contractors

ContractorServicesLocationCompensation
Ukg INCTechnologyPO BOX 930953, Atlanta, GA 31193$717,756
VeeyaTechnology4561 E MCDOWELL RD STE 100, Phoenix, AZ 85008-4505$342,960
Blackbaud INCSoftwarePO BOX 844827, Boston, MA 02284$211,397
Arcadia Education Group LLCConsulting1 N 1ST ST STE 225, Phoenix, AZ 85004$189,774
American PhilanthropicConsulting119 N HIGH ST, West Chester, PA 19380$182,278
Revenue and Support

Revenue Composition

Contributions and Grants
$7,023,898
Program Service Revenue
$11,420,756
Investment Income
$280,081
Other Revenue
$39,128
All Other Contributions
$213,898
Change in Net Assets
$1,313,058
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$12,548,860
Other Expenses$4,901,945
Total Fundraising Expense$604,759
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,305,508$1,224,978$424,257$8,954,743
Other Employee Benefits$1,096,502$166,217$60,933$1,323,652
Fees for Services Other$953,079$178,011$21,759$1,152,849
Current Officers, Directors, Trustees, and Key Employees$893,482$155,777$36,900$1,086,159
Payroll Taxes$832,348$133,079$34,641$1,000,068
Information Technology$446,865$63,758$13,672$524,295
Advertising$332,019$58,829-$390,848
Travel$334,752$51,014$2,635$388,401
Office Expenses$209,964$13,704$99$223,767
Depreciation Depletion$158,636$42,204-$200,840
Pension Plan Contributions$152,680$24,211$7,347$184,238
Occupancy$132,717$17,132-$149,849
Fees for Services Legal$116,644$22,865-$139,509
Other Expenses$8,277$15,523$816$8,277
Fees for Services Accounting$612$199-$811
All Other Expenses--$674$674
Total Functional Expenses$14,446,273$2,399,773$604,759$17,450,805
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“A draft copy was sent to the gha board members before it was filed noting the review the cfo had completed regarding the document. The board was given the opportunity to ask any questions regarding the document. After filing copies are posted on greathearts website. Located here: https://www.greatheartsamerica.org/finance-compliance/”

Form 990, Page 6, Part VI, Line 12C

“Board members complete and sign a conflict of interest form annually. Officers and all employees are required to sign the employee handbook annually. The handbook includes a conflict of interest form which needs to be completed and submitted to human resources if a potential conflict of interest exists. These documents are reviewed by human resources and any conflicts are identified and reported to the auditors and the board to monitor.”

Form 990, Page 6, Part VI, Line 15A

“The board approves compensation for key staff.”

Form 990, Page 6, Part VI, Line 15B

“Compensation for officers, employees and faculty are determined based on independent compensation studies and salaries of comparable non-profit organizations.”

Form 990, Page 6, Part VI, Line 19

“Form 1023 is available on request. Form 990's and various other financial and compliance related items are posted on the great hearts website. The link is as follows: https://www.greatheartsamerica.org/finance-compliance/”

Filing and Contact Details

Filer

Filer Name
Greathearts America
EIN
45-4306715
Phone
6024387045
Address
701 N 44TH STREET, PHOENIX, AZ 85008

Signing Officer

Name
Matthew Bushard
Title
CFO
Phone
4808999181
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Bushard
Formed
2012
Legal Domicile
Az
Voting Board Members
5
Independent Board Members
3
Employees
2,989

Preparer

Firm
Fester & Chapman Pllc
Address
9019 E BAHIA DR STE 100, SCOTTSDALE, AZ 85260
Preparer
Rachel Locke CPA
Phone
6022643077
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Great hearts is a non-profit network of public charter schools dedicated to improving education nationwide through classical preparatory k-12 academies. A great hearts education prepares students to be more than just proficient test takers, but rather, to become great-hearted leaders capable of success throughout their higher education and professional careers. With a curriculum built upon a classical liberal arts tradition and a revolutionary approach to school itself, great hearts cultivates the hearts and minds of students in the pursuit of truth, goodness and beauty.”

Raw XML AppendixShowing 400 of 718 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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