Harlem Academy

Analysis

Harlem Academy is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 2006, 20 years ago. Its declared purposes cover education, which this site groups under education and training. 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 Academy reported income of $5.5m and spending of $5.4m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.7m to $5.5m (+17%), an average of +4.0% a year. The sharpest change came in the year to June 2020, when income rose by 109%. Over the whole period it spent 49% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Harlem Academy sits at the 90th percentile: it is larger than about 90% 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 Elevate Academy North LLC ($5.5m), Midland College Foundation Inc ($5.5m) and Imprints Cares ($5.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% and program service revenue 8.8% of the total. Compensation of current officers, directors and key employees was $385k (7.1% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $42.9m against liabilities of $1.7m, net assets of $41.2m. It reported 50 employees.