Civic Intelligence

Precious Hearts Academy

990 • Fiscal year 2021 • EIN 47-1215869

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 08, 2021

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

50th percentile

0.07x

Higher debt load relative to assets than 50% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

44th percentile

0.06x

Higher debt load relative to revenue than 44% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

75th percentile

31%

Higher net margin than 75% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

93rd percentile

$233,216

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 15.0% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

69th percentile

21%

Faster asset growth than 69% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

50th percentile

13%

Faster revenue growth than 50% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets50th percentile

Assets

Up

$1,417,765

Up $249,194 (+21%) from 2020

Net Assets

Up

$1,319,075

Up $488,997 (+59%) from 2020

Liabilities

Down

$98,690

Down $239,803 (-71%) from 2020

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin75th percentile

Revenue

Up

$1,557,126

Up $174,776 (+13%) from 2020

Expenses

Down

$1,068,129

Down $8,639 (-0.8%) from 2020

Net Income

Up

$488,997

Up $183,415 (+60%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth69th 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

2021

Assets$1,417,765
Liabilities$98,690
Net Assets$1,319,075
Open 2021 Filing

Operations Trend

Revenue Growth50th 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

2021

Revenue$1,557,126
Expenses$1,068,129
Net Income$488,997
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 8, 2021
Return Version
2020v4.1
Gross Receipts
$1,557,126
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$798,693$1,009,943▲ $211,250
Accounts Receivable$332,306$371,852▲ $39,546
Loans From Officers Directors-$89,490-
Land, Buildings, and Equipment, Net$27,940$26,338▼ $1,602
Total Assets$1,168,571$1,417,765▲ $249,194
Other Assets Total$9,632$9,632→ $0
Liabilities
Other Liabilities$158,210$0▼ $158,210
Accounts Payable and Accrued Expenses$180,283$9,200▼ $171,083
Total Liabilities$338,493$98,690▼ $239,803
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$830,078$1,319,075▲ $488,997
Total Net Assets Fund Balance$830,078$1,319,075▲ $488,997
Total Liabilities and Net Assets / Fund Balance$1,168,571$1,417,765▲ $249,194

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$22,770$3,185$25,955
Equipment$3,568$6,059$9,627
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sharmel WeerasinghePresidentFT$175,000$58,216$233,216
Jeevaka WeerasingheExecutive Vice PresidentPT$96,250-$96,250

Board Members and Trustees

NameTitle
Daniel E OlsonChairman of the Board
Christian IordanVice President, Public Rel
Jill PollockBoard Member
Edward FieldChief Financial Officer
Francesca KuruppuSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$306,595
Program Service Revenue
$1,250,531
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,123
Change in Net Assets
$488,997
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$875,120
Other Expenses$193,009
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$480,321--$480,321
Current Officers, Directors, Trustees, and Key Employees$237,685$81,575-$319,260
Occupancy$106,305--$106,305
Payroll Taxes$57,451$5,479-$62,930
Insurance$21,129$3,833-$24,962
Information Technology-$14,050-$14,050
Other Employee Benefits$2,403$10,206-$12,609
Fees for Services Accounting-$9,200-$9,200
Office Expenses-$5,682-$5,682
Other Expenses$6,716$4,492-$4,492
Advertising$2,663--$2,663
Depreciation Depletion$1,602--$1,602
Conferences and Meetings$486--$486
Travel-$51-$51
Total Functional Expenses$933,561$134,568$0$1,068,129
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-$89,490-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
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
2021-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sharmel Weerasinghe
Formed
2014
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
5
Employees
45
Volunteers
0

Preparer

Firm
Rogers Anderson Malody & Scott Llp
Address
735 E CARNEGIE DR, SAN BERNARDINO, CA 92408
Preparer
Bradferd a Welebir CPA
Phone
9098890871
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IRS990/ActivityOrMissionDesc0PRECIOUS 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.
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IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
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
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0OFFICER COMPENSATION PAYABLE FOR SERVICE IN PRIOR YEARS
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0SHARMEL WEERASINGHE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0OFFICER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/TotalBalanceDueAmt089490
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
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IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TravelGrp/TotalAmt051
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/WhistleblowerPolicyInd00
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-08
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0952662063
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ROGERS ANDERSON MALODY & SCOTT LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0735 E CARNEGIE DR

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,417,765
Liabilities
$98,690
Net assets
$1,319,075
Revenue
$1,557,126
Expenses
$1,068,129
Net income
$488,997
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