Harlem Childrens Zone Promise Academy Charter School

Analysis

Harlem Childrens Zone Promise Academy Charter School is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in October 2004, 22 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 Childrens Zone Promise Academy Charter School reported income of $29.8m and spending of $29.9m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $24.6m to $29.8m (+21%), an average of +4.9% a year. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Harlem Childrens Zone Promise Academy Charter School sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include Floridians for Quality Virtual Education Inc ($29.8m), Southern Wesleyan University ($29.8m) and Sage Hill School ($29.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $17.0m. At year end it held assets of $77.3m against liabilities of $8.8m, net assets of $68.5m. It reported 249 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.