Civic Intelligence

Precious Hearts Academy

990 • Fiscal year 2019 • EIN 47-1215869

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 14, 2019

Organization ProfileWWW.PRECIOUSHEARTSACADEMY.ORG
225 West Hospitality Ln No 108San Bernardino, CA 92408

(909) 383-0388

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

67th percentile

0.23x

Higher debt load relative to assets than 67% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

54th percentile

0.11x

Higher debt load relative to revenue than 54% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

84th percentile

30%

Higher net margin than 84% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

86th percentile

$165,064

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 11.4% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

95th percentile

102%

Faster asset growth than 95% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

91st percentile

73%

Faster revenue growth than 91% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$679,121

Up $343,157 (+102%) from 2018

Net Assets

Up

$524,496

Up $439,787 (+519%) from 2018

Liabilities

Down

$154,625

Down $96,630 (-38%) from 2018

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin84th percentile

Revenue

Up

$1,453,470

Up $611,219 (+73%) from 2018

Expenses

Up

$1,013,683

Up $352,363 (+53%) from 2018

Net Income

Up

$439,787

Up $258,856 (+143%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2014: $209Liabilities 2014: $0Net Assets 2014: $2092014Assets 2015: $63,515Liabilities 2015: $92,057Net Assets 2015: -$28,5422015Assets 2016: $64,037Liabilities 2016: $89,4322016Assets 2017: $167,056Liabilities 2017: $163,278Net Assets 2017: $3,7782017Assets 2018: $335,964Liabilities 2018: $251,255Net Assets 2018: $84,7092018Assets 2019: $679,121Liabilities 2019: $154,625Net Assets 2019: $524,4962019Assets 2020: $1,168,571Liabilities 2020: $338,493Net Assets 2020: $830,0782020Assets 2021: $1,417,765Liabilities 2021: $98,690Net Assets 2021: $1,319,0752021Assets 2022: $1,511,936Liabilities 2022: $89,490Net Assets 2022: $1,422,4462022Assets 2023: $1,644,342Liabilities 2023: $89,490Net Assets 2023: $1,554,8522023Assets 2024: $2,173,175Liabilities 2024: $74,220Net Assets 2024: $2,098,9552024Assets 2025: $2,332,265Liabilities 2025: $20,293Net Assets 2025: $2,311,9722025

Highlighted filing

2019

Assets$679,121
Liabilities$154,625
Net Assets$524,496
Open 2019 Filing

Operations Trend

Revenue Growth91st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $2,470Expenses 2014: $2,261Net Income 2014: $2092014Revenue 2015: $121,153Expenses 2015: $149,904Net Income 2015: -$28,7512015Revenue 2016: $156,577Expenses 2016: $153,430Net Income 2016: $3,1472016Revenue 2017: $466,450Expenses 2017: $437,276Net Income 2017: $29,1742017Revenue 2018: $842,251Expenses 2018: $661,320Net Income 2018: $180,9312018Revenue 2019: $1,453,470Expenses 2019: $1,013,683Net Income 2019: $439,7872019Revenue 2020: $1,382,350Expenses 2020: $1,076,768Net Income 2020: $305,5822020Revenue 2021: $1,557,126Expenses 2021: $1,068,129Net Income 2021: $488,9972021Revenue 2022: $1,629,434Expenses 2022: $1,526,063Net Income 2022: $103,3712022Revenue 2023: $2,113,777Expenses 2023: $1,981,371Net Income 2023: $132,4062023Revenue 2024: $2,839,244Expenses 2024: $2,295,141Net Income 2024: $544,1032024Revenue 2025: $2,625,471Expenses 2025: $2,412,454Net Income 2025: $213,0172025

Highlighted filing

2019

Revenue$1,453,470
Expenses$1,013,683
Net Income$439,787
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 14, 2019
Return Version
2018v3.1
Gross Receipts
$1,453,470
Mission and Program Overview

Mission

Precious hearts academy is a special education day school devoted to serving k-12 students with exceptionalities and their families by providing an accessible, enriched, trans-disciplinary and integrated educational program based on evidence-based research standards to facilitate whole person development.

Precious hearts academy is a special education day school devoted to serving k-12 students with exceptionalities and their families by providing an individualized, enriched, trans-disciplinary and integrated educational program based on clinical evidence-based research standards to facilitate whole person development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$48,252$343,210▲ $294,958
Accounts Receivable$249,159$299,187▲ $50,028
Loans From Officers Directors$22,051$49,951▲ $27,900
Land, Buildings, and Equipment, Net$28,921$27,092▼ $1,829
Total Assets$335,964$679,121▲ $343,157
Other Assets Total$9,632$9,632→ $0
Liabilities
Accounts Payable and Accrued Expenses$229,204$104,674▼ $124,530
Total Liabilities$251,255$154,625▼ $96,630
Net Assets / Fund Balance
Unrestricted Net Assets$84,709$524,496▲ $439,787
Total Net Assets Fund Balance$84,709$524,496▲ $439,787
Total Liabilities and Net Assets / Fund Balance$335,964$679,121▲ $343,157

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$24,100$1,855$25,955
Equipment$2,992$3,555$6,547
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sharmel WeerasinghePresidentFT$159,690$5,374$165,064

Board Members and Trustees

NameTitle
Daniel E OlsonChairman of the Board
Jeevaka WeerasingheExecutive Vice President
Christian IordanVice President, Public Rel
Edward FieldChief Financial Officer
Francesca KuruppuSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$2,136
Program Service Revenue
$1,451,241
Investment Income
$0
Other Revenue
$93
All Other Contributions
$2,136
Change in Net Assets
$439,787
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$830,520
Other Expenses$183,163
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$558,789--$558,789
Current Officers, Directors, Trustees, and Key Employees$170,000$30,000-$200,000
Occupancy$88,587--$88,587
Payroll Taxes$66,357--$66,357
Fees for Services Other-$15,304-$15,304
All Other Expenses$6,634$6,000-$12,634
Insurance-$10,798-$10,798
Office Expenses-$5,757-$5,757
Other Employee Benefits-$5,374-$5,374
Advertising-$5,005-$5,005
Other Expenses$4,739$7,515-$4,739
Conferences and Meetings-$3,646-$3,646
Fees for Services Accounting-$3,200-$3,200
Interest-$2,758-$2,758
Fees for Services Legal-$2,645-$2,645
Depreciation Depletion$1,829--$1,829
Travel-$771-$771
Total Functional Expenses$914,910$98,773$0$1,013,683
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
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$22,051$49,951▲ $27,900
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Officers sharmel weerasinghe and jeevaka weerasinghe are married.”

Form 990, Part VI, Section B, Line 11B

“A copy of form 990 is provided to and reviewed by management and the board of directors before it is filed.”

Form 990, Part VI, Section C, Line 19

“These documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Precious Hearts Academy
EIN
47-1215869
Phone
9093830388
Address
225 WEST HOSPITALITY LN NO 108, SAN BERNARDINO, CA 92408

Signing Officer

Name
Sharmel Weerasinghe
Title
President
Phone
9093830388
Signed
2019-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sharmel Weerasinghe
Formed
2014
Legal Domicile
CA
Voting Board Members
6
Independent Board Members
6
Employees
35
Volunteers
0

Preparer

Firm
Rogers Anderson Malody & Scott Llp
Address
735 E CARNEGIE DRIVE SUITE 100, SAN BERNARDINO, CA 92408
Preparer
Bradferd a Welebir CPA
Phone
9098890871
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IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1STANLEY WEERASINGHE
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OFFICERS SHARMEL WEERASINGHE AND JEEVAKA WEERASINGHE ARE MARRIED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF FORM 990 IS PROVIDED TO AND REVIEWED BY MANAGEMENT AND THE BOARD OF DIRECTORS BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THESE DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TaxablePartyNotificationInd00
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ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/FilingSecurityInformation/IPTm010:52:59
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ROGERS ANDERSON MALODY & SCOTT LLP

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$679,121
Liabilities
$154,625
Net assets
$524,496
Revenue
$1,453,470
Expenses
$1,013,683
Net income
$439,787
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.33$0.02$2.31$2.63$2.41$0.21
2024Detailed filing. Detailed filing data is available for this year.$2.17$0.07$2.10$2.84$2.30$0.54
2023Detailed filing. Detailed filing data is available for this year.$1.64$0.09$1.55$2.11$1.98$0.13
2022Detailed filing. Detailed filing data is available for this year.$1.51$0.09$1.42$1.63$1.53$0.10
2021Detailed filing. Detailed filing data is available for this year.$1.42$0.10$1.32$1.56$1.07$0.49
2020Detailed filing. Detailed filing data is available for this year.$1.17$0.34$0.83$1.38$1.08$0.31
2019Detailed filing. Detailed filing data is available for this year.$0.68$0.15$0.52$1.45$1.01$0.44
2018Detailed filing. Detailed filing data is available for this year.$0.34$0.25$0.08$0.84$0.66$0.18
2017Detailed filing. Detailed filing data is available for this year.$0.17$0.16$0.00$0.47$0.44$0.03
2016Summary only. Only limited summary data is available for this year.$0.06$0.09$0.16$0.15$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.06$0.09$0.03$0.12$0.15$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00