Civic Intelligence

Precious Hearts Academy

990 • Fiscal year 2020 • EIN 47-1215869

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 12, 2020

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

70th percentile

0.29x

Higher debt load relative to assets than 70% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

64th percentile

0.24x

Higher debt load relative to revenue than 64% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

75th percentile

22%

Higher net margin than 75% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

93rd percentile

$254,683

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 18.4% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

90th percentile

72%

Faster asset growth than 90% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

39th percentile

-4.9%

Faster revenue growth than 39% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$1,168,571

Up $489,450 (+72%) from 2019

Net Assets

Up

$830,078

Up $305,582 (+58%) from 2019

Liabilities

Up

$338,493

Up $183,868 (+119%) from 2019

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin75th percentile

Revenue

Down

$1,382,350

Down $71,120 (-4.9%) from 2019

Expenses

Up

$1,076,768

Up $63,085 (+6.2%) from 2019

Net Income

Down

$305,582

Down $134,205 (-31%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth90th 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

2020

Assets$1,168,571
Liabilities$338,493
Net Assets$830,078
Open 2020 Filing

Operations Trend

Revenue Growth39th 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

2020

Revenue$1,382,350
Expenses$1,076,768
Net Income$305,582
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 12, 2020
Return Version
2019v5.1
Gross Receipts
$1,382,350
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$343,210$798,693▲ $455,483
Accounts Receivable$299,187$332,306▲ $33,119
Loans From Officers Directors$49,951--
Land, Buildings, and Equipment, Net$27,092$27,940▲ $848
Total Assets$679,121$1,168,571▲ $489,450
Other Assets Total$9,632$9,632→ $0
Liabilities
Accounts Payable and Accrued Expenses$104,674$180,283▲ $75,609
Other Liabilities$0$158,210▲ $158,210
Total Liabilities$154,625$338,493▲ $183,868
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$524,496$830,078▲ $305,582
Total Net Assets Fund Balance$524,496$830,078▲ $305,582
Total Liabilities and Net Assets / Fund Balance$679,121$1,168,571▲ $489,450

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$23,435$2,520$25,955
Equipment$4,505$5,122$9,627
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sharmel WeerasinghePresidentFT$104,477$150,206$254,683

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
$69
Program Service Revenue
$1,382,281
Investment Income
$0
Other Revenue
$0
All Other Contributions
$69
Change in Net Assets
$305,582
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$860,997
Other Expenses$215,771
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$615,726--$615,726
Current Officers, Directors, Trustees, and Key Employees$148,750$26,250-$175,000
Occupancy$103,707--$103,707
Payroll Taxes$43,569$12,185-$55,754
Fees for Services Other-$25,706-$25,706
Insurance$18,380$3,906-$22,286
Other Employee Benefits$4,311$10,206-$14,517
All Other Expenses$3,195$6,051-$9,246
Advertising-$7,978-$7,978
Fees for Services Legal-$7,426-$7,426
Fees for Services Accounting-$5,500-$5,500
Other Expenses$4,755$5,418-$4,755
Office Expenses-$2,235-$2,235
Depreciation Depletion$2,232--$2,232
Conferences and Meetings$2,129--$2,129
Travel-$112-$112
Total Functional Expenses$963,795$112,973$0$1,076,768
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$49,951--
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Ppp Loan$158,210
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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
2020-11-12
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
46
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/ExplanationTxt0THE ORGANIZATION PUBLICIZED ITS NONDISCRIMINATORY POLICY IN THE SAN BERNARDINO SUN NEWSPAPER ON FEBRUARY 3, 2015, DURING THE PERIOD OF SOLICITATION FOR STUDENTS. THE POLICY IS ALSO PUBLICIZED ON THE ORGANIZATION'S WEBSITE AND PRINTED PUBLICATIONS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0104477
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt010206
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0OTHER REPORTABLE COMPENSATION IS RELATED TO BOARD AUTHORIZED COMPENSATION FOR PRIOR YEARS THAT WAS ACCRUED IN THOSE YEARS BUT PAID IN 2019 WHEN THE ORGANIZATION'S CASH FLOW PERMITTED IT.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J, PART II
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0FUNDING STARTUP AND ONGOING OPERATIONS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt049972
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0PRESIDENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990/ScheduleORequiredInd01
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
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/EOYAmt01168571
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt069
IRS990/TotalEmployeeCnt046
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0112973
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0963795
IRS990/TotalFunctionalExpensesGrp/TotalAmt01076768
IRS990/TotalGrossUBIAmt00
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IRS990/TotalProgramServiceExpensesAmt0963795
IRS990/TotalProgramServiceRevenueAmt01382281
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IRS990/TotalRevenueGrp/ExclusionAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01382350
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IRS990/TotalVolunteersCnt00
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IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0112
IRS990/TravelGrp/TotalAmt0112
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0225 WEST HOSPITALITY LN NO 108
IRS990/USAddress/CityNm0SAN BERNARDINO
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IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.PRECIOUSHEARTSACADEMY.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SHARMEL WEERASINGHE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09093830388
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PRECIOUS HEARTS ACADEMY
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ReturnHeader/Filer/USAddress/CityNm0SAN BERNARDINO
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.227.38.201
ReturnHeader/FilingSecurityInformation/IPDt02020-11-12
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PS
ReturnHeader/FilingSecurityInformation/IPTm010:00:33
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0952662063
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ROGERS ANDERSON MALODY & SCOTT LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0735 E CARNEGIE DRIVE SUITE 100
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd092408
ReturnHeader/PreparerPersonGrp/PhoneNum09098890871
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRADFERD A WELEBIR CPA
ReturnHeader/ReturnTs02020-11-13T18:03:51-06:00
ReturnHeader/ReturnTypeCd0990

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,168,571
Liabilities
$338,493
Net assets
$830,078
Revenue
$1,382,350
Expenses
$1,076,768
Net income
$305,582
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