Palante Harlem Inc

Analysis

Palante Harlem Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 2009, 17 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Palante Harlem Inc reported income of $1.0m and spending of $980k, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $575k to $1.0m (+79%), an average of +16% a year. The sharpest change came in the year to June 2020, when income rose by 54%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Palante Harlem Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Aldrich Memorial Nursery School Inc ($1.0m), Calvary Chapel University Inc ($1.0m) and Scoville Memorial Library Association Inc ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 104% of the total. Compensation of current officers, directors and key employees was $151k (15% of expenses). Other salaries and wages came to $333k. At year end it held assets of $976k against liabilities of $305k, net assets of $671k. It reported 10 employees.