Greathearts Arizona
Greathearts Arizona shows consistent revenue and asset growth with 0% reported officer compensation across all filings.
EIN: 202036133 · Phoenix, AZ · NTEE: B022 · Updated: 2026-03-28
Is Greathearts Arizona Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Greathearts Arizona directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Greathearts Arizona
Greathearts Arizona (EIN: 202036133) is a nonprofit organization based in Phoenix, AZ, classified under NTEE code B022. The organization reported total revenue of $44.4M and total assets of $255.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Greathearts Arizona's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Greathearts Arizona is a large nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 22.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $43.7M |
| Total Expenses | $40.9M |
| Surplus / Deficit | +$2.8M |
| Total Assets | $263.4M |
| Total Liabilities | $255.3M |
| Net Assets | $8.1M |
| Operating Margin | 6.4% |
| Debt-to-Asset Ratio | 96.9% |
| Months of Reserves | 77.2 months |
Financial Health Grade: A
In 2023, Greathearts Arizona reported a surplus of $2.8M with revenue exceeding expenses, holds 77.2 months of operating reserves (strong position), has a debt-to-asset ratio of 96.9% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Greathearts Arizona's revenue has grown at a compound annual growth rate (CAGR) of 22.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +20.8% | +20.3% | -1.6% |
| 2022 | +17.0% | +14.2% | +-0.0% |
| 2021 | -5.3% | -0.2% | +37.8% |
| 2020 | +2.9% | -5.1% | +1.1% |
| 2019 | +11.3% | +18.0% | +0.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Greathearts Arizona with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Greathearts Arizona allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $2.8M, with revenue exceeding expenses.
- Debt-to-asset ratio: 96.9%.
Executive Compensation Analysis
Greathearts Arizona consistently reports 0% officer compensation across all 13 IRS 990 filings, which is highly unusual for an organization of its size with over $40 million in annual revenue and $250 million in assets. This suggests either that no compensation is paid to officers, or that executive compensation is reported under different categories not explicitly labeled as 'officer compensation' on the 990, warranting further scrutiny for a complete understanding of leadership remuneration.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Greathearts Arizona's IRS 990 filings:
- Consistent 0% officer compensation reported on 990s for a large organization, potentially obscuring executive pay details.
- Historically high liabilities, sometimes exceeding assets, indicating significant debt reliance.
Strengths
The following positive indicators were identified for Greathearts Arizona:
- Consistent and significant revenue growth over the past decade, from $12.4M in 2014 to $43.7M in 2023.
- Substantial asset growth, reaching over $250M, indicating significant infrastructure and capacity.
- Expenses generally align closely with revenue, suggesting efficient operational spending.
- Assets now consistently exceed liabilities in recent years, indicating improved financial health and stability.
Frequently Asked Questions about Greathearts Arizona
Is Greathearts Arizona a legitimate charity?
Based on AI analysis of IRS 990 filings, Greathearts Arizona (EIN: 202036133) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Greathearts Arizona spend its money?
Greathearts Arizona directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Greathearts Arizona tax-deductible?
Greathearts Arizona is registered as a tax-exempt nonprofit (EIN: 202036133). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Greathearts Arizona manage to report 0% officer compensation despite its significant size and operations?
The consistent reporting of 0% officer compensation across all 13 filings is highly unusual for an organization with over $40 million in revenue. This could indicate that executive leadership is compensated through a related organization, or that their compensation is categorized differently on the 990, such as 'salaries and wages' for all employees rather than specifically for officers.
What is the primary source of Greathearts Arizona's significant liabilities, and how are they being managed?
Given the NTEE code B022 (Charter Schools) and the substantial assets, it is highly probable that the significant liabilities, which often exceeded assets in earlier years, are related to debt financing for the acquisition, construction, or renovation of school facilities. The trend of assets now exceeding liabilities suggests improved financial management and potentially a reduction in the relative burden of this debt.
What is the organization's program spending ratio, and how has it trended over time?
While specific program spending percentages are not detailed in the provided data, the overall expenses consistently track closely with revenue (e.g., $40.9M expenses vs. $43.7M revenue in 2023). This indicates that the vast majority of funds are being expended on the organization's operations, which for a charter school, are primarily program-related. A more detailed breakdown would require examining the full 990 forms.
Filing History
IRS 990 filing history for Greathearts Arizona showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Greathearts Arizona's revenue has grown by 1005%, moving from $4.0M to $43.7M. Total assets increased by 692.8% over the same period, from $33.2M to $263.4M. Total functional expenses rose by 939%, from $3.9M to $40.9M. In its most recent filing year (2023), Greathearts Arizona reported a surplus of $2.8M, with revenue exceeding expenses. The organization holds $255.3M in liabilities against $263.4M in assets (debt-to-asset ratio: 96.9%), resulting in net assets of $8.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $43.7M | $40.9M | $263.4M | $255.3M | — | — |
| 2022 | $36.2M | $34.0M | $267.8M | $262.7M | — | View 990 |
| 2021 | $30.9M | $29.8M | $267.8M | $264.8M | — | View 990 |
| 2020 | $32.7M | $29.8M | $194.4M | $192.8M | — | — |
| 2019 | $31.8M | $31.4M | $192.3M | $193.8M | — | View 990 |
| 2018 | $28.5M | $26.6M | $190.5M | $192.4M | — | View 990 |
| 2017 | $25.0M | $28.8M | $149.5M | $153.1M | — | — |
| 2016 | $20.1M | $25.8M | $155.6M | $155.4M | — | View 990 |
| 2015 | $17.6M | $18.9M | $138.4M | $132.5M | — | View 990 |
| 2014 | $12.5M | $11.3M | $86.8M | $79.6M | — | View 990 |
| 2013 | $10.4M | $8.3M | $60.2M | $54.2M | — | View 990 |
| 2012 | $8.9M | $6.6M | $43.3M | $39.4M | — | View 990 |
| 2011 | $4.0M | $3.9M | $33.2M | $31.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $43.7M, expenses of $40.9M, and assets of $263.4M (revenue +20.8% year-over-year).
- 2022: Revenue of $36.2M, expenses of $34.0M, and assets of $267.8M (revenue +17.0% year-over-year).
- 2021: Revenue of $30.9M, expenses of $29.8M, and assets of $267.8M (revenue -5.3% year-over-year).
- 2020: Revenue of $32.7M, expenses of $29.8M, and assets of $194.4M (revenue +2.9% year-over-year).
- 2019: Revenue of $31.8M, expenses of $31.4M, and assets of $192.3M (revenue +11.3% year-over-year).
- 2018: Revenue of $28.5M, expenses of $26.6M, and assets of $190.5M (revenue +14.2% year-over-year).
- 2017: Revenue of $25.0M, expenses of $28.8M, and assets of $149.5M (revenue +24.2% year-over-year).
- 2016: Revenue of $20.1M, expenses of $25.8M, and assets of $155.6M (revenue +14.6% year-over-year).
- 2015: Revenue of $17.6M, expenses of $18.9M, and assets of $138.4M (revenue +40.9% year-over-year).
- 2014: Revenue of $12.5M, expenses of $11.3M, and assets of $86.8M (revenue +19.9% year-over-year).
- 2013: Revenue of $10.4M, expenses of $8.3M, and assets of $60.2M (revenue +17.3% year-over-year).
- 2012: Revenue of $8.9M, expenses of $6.6M, and assets of $43.3M (revenue +123.8% year-over-year).
- 2011: Revenue of $4.0M, expenses of $3.9M, and assets of $33.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Greathearts Arizona:
Data Sources and Methodology
This transparency report for Greathearts Arizona is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.