Heritage Classic Foundation Inc
Heritage Classic Foundation Inc shows strong financial surplus in latest year with zero officer compensation.
EIN: 202305859 · Indianapolis, IN · NTEE: P20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $123K |
| Total Expenses | $5K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $79,000 |
| Net Assets | $82K |
| Transparency Score | 85/100 |
Is Heritage Classic Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Heritage Classic Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Heritage Classic Foundation Inc
Heritage Classic Foundation Inc (EIN: 202305859) is a nonprofit organization based in Indianapolis, IN, classified under NTEE code P20. The organization reported total revenue of $123K and total assets of $2K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Heritage Classic Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Heritage Classic Foundation Inc is a small nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $80K |
| Total Expenses | $5K |
| Surplus / Deficit | +$75K |
| Total Assets | $82K |
| Net Assets | $82K |
| Operating Margin | 93.8% |
| Months of Reserves | 200.7 months |
Financial Health Grade: A
In 2023, Heritage Classic Foundation Inc reported a surplus of $75K with revenue exceeding expenses, holds 200.7 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Heritage Classic Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -27.1% | -95.3% | +1032.4% |
| 2022 | +36.4% | +25.5% | +223.0% |
| 2021 | +35.8% | +47.2% | -57.3% |
| 2020 | -13.4% | -22.1% | +92.9% |
| 2019 | +1.3% | +12.1% | -61.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Heritage Classic Foundation Inc 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: 90%
- fundraising: 0%
According to IRS 990 filings, Heritage Classic Foundation Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 $75K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers or key employees receive salaries from the organization, which is highly unusual for an organization with over $79,000 in revenue in its latest period.
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 Heritage Classic Foundation Inc's IRS 990 filings:
- Lack of detailed program spending breakdown in provided data makes it hard to fully assess mission impact.
Strengths
The following positive indicators were identified for Heritage Classic Foundation Inc:
- Consistent reporting of zero officer compensation across all filings.
- Zero liabilities reported in all available filings, indicating strong financial stability.
- Significant financial surplus in the latest fiscal year (202312) with expenses of only $4,907 against $79,722 in revenue.
- Substantial increase in assets to $82,062 in the latest period, indicating growing financial reserves.
- Consistent filing of IRS Form 990s over 13 periods, demonstrating transparency and accountability.
Frequently Asked Questions about Heritage Classic Foundation Inc
Is Heritage Classic Foundation Inc a legitimate charity?
Heritage Classic Foundation Inc (EIN: 202305859) is a registered tax-exempt nonprofit based in Indiana. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $123K. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Heritage Classic Foundation Inc spend its money?
Heritage Classic Foundation Inc directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Heritage Classic Foundation Inc tax-deductible?
Heritage Classic Foundation Inc is registered as a tax-exempt nonprofit (EIN: 202305859). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Heritage Classic Foundation Inc CEO make?
Heritage Classic Foundation Inc's highest-compensated officer earns $79,000 annually. The organization reported $123K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Heritage Classic Foundation Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Heritage Classic Foundation Inc is above average for NTEE category P20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Heritage Classic Foundation Inc located?
Heritage Classic Foundation Inc is headquartered in Indianapolis, Indiana and files with the IRS under EIN 202305859. It is classified under NTEE code P20.
How many years of IRS 990 filings does Heritage Classic Foundation Inc have?
Heritage Classic Foundation Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $123K in total revenue.
Is Heritage Classic Foundation Inc a good charity?
Based on the provided data, Heritage Classic Foundation Inc appears to be a well-managed charity, particularly given its consistent reporting of zero officer compensation and zero liabilities. The significant surplus in the latest fiscal year (202312) where revenue was $79,722 and expenses were only $4,907, along with a substantial increase in assets to $82,062, indicates strong financial health and efficient operations for that period. However, without detailed program spending breakdowns, it's difficult to fully assess the direct impact of its mission.
How does the organization manage its expenses?
The organization demonstrates very tight expense management. In the latest period (202312), expenses were only $4,907 against $79,722 in revenue, resulting in a large surplus. While some prior years show expenses closely matching or slightly exceeding revenue, the overall trend, especially in the most recent filing, suggests a highly cost-conscious approach. The consistent reporting of zero officer compensation also contributes to low overhead.
What is the trend in the organization's assets?
The organization's assets have fluctuated over the years, ranging from a low of $2,244 in 202112 to a high of $82,062 in 202312. The most recent filing shows a significant increase in assets, indicating a substantial build-up of financial reserves, which is a positive sign of long-term stability.
Filing History
IRS 990 filing history for Heritage Classic Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Heritage Classic Foundation Inc's revenue has grown by 135.5%, moving from $34K to $80K. Total assets increased by 2839.2% over the same period, from $3K to $82K. Total functional expenses fell by 87.6%, from $40K to $5K. In its most recent filing year (2023), Heritage Classic Foundation Inc reported a surplus of $75K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $80K | $5K | $82K | $0 | — | — |
| 2022 | $109K | $104K | $7K | $0 | — | View 990 |
| 2021 | $80K | $83K | $2K | $0 | — | View 990 |
| 2020 | $59K | $56K | $5K | $0 | — | View 990 |
| 2019 | $68K | $72K | $3K | $0 | — | View 990 |
| 2018 | $67K | $65K | $7K | $0 | — | View 990 |
| 2017 | $79K | $82K | $4K | $0 | — | View 990 |
| 2016 | $62K | $70K | $7K | $0 | — | View 990 |
| 2015 | $68K | $65K | $16K | $0 | — | View 990 |
| 2014 | $64K | $56K | $12K | $0 | — | View 990 |
| 2013 | $47K | $47K | $4K | $0 | — | View 990 |
| 2012 | $43K | $42K | $4K | $0 | — | View 990 |
| 2011 | $34K | $40K | $3K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $80K, expenses of $5K, and assets of $82K (revenue -27.1% year-over-year).
- 2022: Revenue of $109K, expenses of $104K, and assets of $7K (revenue +36.4% year-over-year).
- 2021: Revenue of $80K, expenses of $83K, and assets of $2K (revenue +35.8% year-over-year).
- 2020: Revenue of $59K, expenses of $56K, and assets of $5K (revenue -13.4% year-over-year).
- 2019: Revenue of $68K, expenses of $72K, and assets of $3K (revenue +1.3% year-over-year).
- 2018: Revenue of $67K, expenses of $65K, and assets of $7K (revenue -14.9% year-over-year).
- 2017: Revenue of $79K, expenses of $82K, and assets of $4K (revenue +28.3% year-over-year).
- 2016: Revenue of $62K, expenses of $70K, and assets of $7K (revenue -9.8% year-over-year).
- 2015: Revenue of $68K, expenses of $65K, and assets of $16K (revenue +7.0% year-over-year).
- 2014: Revenue of $64K, expenses of $56K, and assets of $12K (revenue +36.6% year-over-year).
- 2013: Revenue of $47K, expenses of $47K, and assets of $4K (revenue +8.0% year-over-year).
- 2012: Revenue of $43K, expenses of $42K, and assets of $4K (revenue +27.9% year-over-year).
- 2011: Revenue of $34K, expenses of $40K, and assets of $3K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Heritage Classic Foundation Inc:
Data Sources and Methodology
This transparency report for Heritage Classic Foundation Inc 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.