Harlem School of the Arts Inc

Analysis

Harlem School of the Arts Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 1965, 61 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Harlem School of the Arts Inc reported income of $5.5m and spending of $6.7m, spending 120% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $9.8m to $5.5m (-44%), an average of -13% a year. The sharpest change came in the year to June 2021, when income dropped by 44%. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Harlem School of the Arts Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 90th percentile within NY. Charities of a similar size with the same main cause include Union Congregational Church Homes Inc ($5.5m), Childpeace Montessori Community ($5.5m) and Catholic Foundation for Diocese of Salina ($5.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 62% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $210k (3.2% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $15.6m against liabilities of $1.0m, net assets of $14.5m. It reported 174 employees.