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Nonprofiteer
← GREATHEARTS FOUNDATION

Form 990 for tax year 2022

Filed by GREATHEARTS FOUNDATION.

Totals

Total revenue
$5,331,829
Total expenses
$8,426,276
Contributions and grants received
$5,292,073
Grants paid
$0
Program service revenue
$7,917
Investment income
$31,839
Other revenue
$0
Total assets, end of year
$2,073,889
Total liabilities, end of year
$272,217
Net assets or fund balances, end of year
$1,801,672
Program services expenses (Part IX)
$8,380,436
Management and general expenses
$32,589
Fundraising expenses
$13,251
Program service expenses (Part III)
$8,380,436

Program services were 99.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $5,292,073

  • 2a · Program service revenue: CO-CURICULAR ACTIVITIES

    total $7,917 · related or exempt $7,917

  • 3 · Investment income

    total $31,839 · excluded $31,839

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $276,019 · program services $253,731 · management and general $22,288

  • 7 · Other salaries and wages

    total $3,827 · program services $3,518 · management and general $309

  • 8 · Pension plan contributions

    total $5,044 · program services $4,637 · management and general $407

  • 9 · Other employee benefits

    total $5,576 · program services $5,126 · management and general $450

  • 10 · Payroll taxes

    total $21,094 · program services $19,391 · management and general $1,703

  • 11b · Fees: legal

    total $218 · management and general $218

  • 11g · Fees: other

    total $71,859 · program services $66,257 · management and general $5,602

  • 14 · Information technology

    total $8,750 · program services $115 · management and general $10 · fundraising $8,625

  • 17 · Travel

    total $21,327 · program services $15,441 · management and general $1,356 · fundraising $4,530

  • 24a · Other expenses: GRANTS TO RELATED PARTIES

    total $8,009,420 · program services $8,009,420

  • 24b · Other expenses: MEALS

    total $3,013 · program services $2,681 · management and general $236 · fundraising $96

  • 24c · Other expenses: SUPPLIES

    total $129 · program services $119 · management and general $10

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,937,103 · end of year $1,831,797

  • 4 · Accounts receivable

    beginning of year $1,063

  • 15 · Other assets

    beginning of year $2,987,711 · end of year $242,092

  • 17 · Accounts payable and accrued expenses

    beginning of year $29,758 · end of year $272,217

  • 27 · Net assets without donor restrictions

    beginning of year $4,896,119 · end of year $1,801,672

Mission and programs · 2022

Mission

THE GREATHEARTS FOUNDATION IS A NONPROFIT ORGANIZATION THAT SEEKS TO INCREASE NATIONAL PHILANTHROPY FOR OUR MISSION AND ACCESS RESOURCES TO ENHANCE THE WORK AND WELL BEING OF OUR STUDENTS, FAMILIES, AND TEACHERS. AS PART OF THAT MISSION, THE FOUNDATION HOUSES THE GREATHEARTS INSTITUTE FOR CLASSICAL EDUCATION WHICH CHAMPIONS THE CLASSICAL, LIBERAL ARTS EDUCATION MOVEMENT AS A WHOLE. FOUNDED IN 2017, THE GREATHEARTS FOUNDATION BELIEVES THAT TO RESTORE AMERICAN PUBLIC EDUCATION WE MUST MAKE THE FOSTERING OF PERSONAL CHARACTER AND MORAL IMAGINATION ONCE AGAIN CENTRAL TO OUR EDUCATIONAL TASK. THE GREATHEARTS FOUNDATION ALSO OVERSEES, AND SECURES THE RESOURCES TO SUPPORT, THE GROWTH OF GREAT HEARTS INTO NEW REGIONS.

  • THE GREATHEARTS FOUNDATION IS A NONPROFIT ORGANIZATION THAT SEEKS TO INCREASE NATIONAL PHILANTHROPY FOR OUR MISSION AND ACCESS RESOURCES TO ENHANCE THE WORK AND WELL BEING OF OUR STUDENTS, FAMILIES, AND TEACHERS. AS PART OF THAT MISSION, THE FOUNDATION HOUSES THE GREATHEARTS INSTITUTE FOR CLASSICAL EDUCATION WHICH CHAMPIONS THE CLASSICAL, LIBERAL ARTS EDUCATION MOVEMENT AS A WHOLE. FOUNDED IN 2017, THE GREATHEARTS FOUNDATION BELIEVES THAT TO RESTORE AMERICAN PUBLIC EDUCATION WE MUST MAKE THE FOSTERING OF PERSONAL CHARACTER AND MORAL IMAGINATION ONCE AGAIN CENTRAL TO OUR EDUCATIONAL TASK. THE GREATHEARTS FOUNDATION ALSO OVERSEES, AND SECURES THE RESOURCES TO SUPPORT, THE GROWTH OF GREAT HEARTS INTO NEW REGIONS.

    Expenses $8,380,436 · Revenue $7,917

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DR DANIEL SCOGGIN

    CHIEF ACADEM

    Total calculated
    $383,228
    From this org
    $179,050
    From related orgs
    $179,050
    Other
    $25,128
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $174,950 + $174,950 related
    Bonus
    $100 + $100 related
    Other
    $4,000 + $4,000 related
    Deferred
    $3,412 + $3,412 related
    Nontaxable benefits
    $9,152 + $9,152 related
    Filer's total
    $191,614 + $191,614 related

  • DR WADE DYKE

    FOUNDATION P

    Total calculated
    $103,592
    From this org
    $96,969
    From related orgs
    $0
    Other
    $6,623
    Hours/week
    40

  • BOB MULHERN

    VICE PRES/SE

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202411359349313466

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