Harlem Academy
- Assets
- $43.5m
- Revenue
- $10.3m
- Investments
- $0.0
- Employees
- 40
- Location
- New York, NY
- Founding
- 01/2006
- Data as of
- 06/2022
- EIN
- 56-2454573
Organization Overview
Harlem Academy is located in New York, NY. The organization was established in 2006. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Harlem Academy employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harlem Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Harlem Academy generated $10.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.0% each year . All expenses for the organization totaled $4.5m during the year ending 06/2022. While expenses have increased by 4.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
HARLEM ACADEMY DRIVES EQUITY OF OPPORTUNITY FOR PROMISING CHILDREN, GUIDING THEM TO THRIVE AT THE HIGHEST ACADEMIC LEVELS AND ONE DAY MAKE A MARK ON THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MISSION.HARLEM ACADEMY DRIVES EQUITY OF OPPORTUNITY FOR PROMISING STUDENTS, GUIDING THEM TO THRIVE AT THE HIGHEST ACADEMIC LEVELS AND ONE DAY MAKE A MARK ON THE WORLD.COMMITMENT TO LOW-INCOME CHILDREN.HARLEM ACADEMY PROVIDES A FULL-NEED SCHOLARSHIP TO EVERY ATTENDING STUDENT. THE SCHOOL IS COMMITTED TO A MERITOCRACY WHERE HARD WORK DRIVES THE OPPORTUNITY TO REALIZE POTENTIAL AND WHERE NO FAMILY IS EVER TURNED AWAY FOR AN INABILITY TO PAY.TRANSFORMATIONAL GROWTH.HARLEM ACADEMY ADMITS PROMISING CHILDREN AND SUPPORTS THEM IN CULTIVATING THEIR TALENTS. STUDENTS GAIN A TREMENDOUS 16 POINTS DURING THEIR TIME AT HARLEM ACADEMY, ENTERING WITH BASELINE SCORES AT THE 74TH PERCENTILE AND GRADUATING AT THE 90TH PERCENTILE.NATIONALLY, A PROMISING, LOW-INCOME STUDENT STARTING FIRST GRADE AT THE 72ND PERCENTILE (A SIMILAR PROFILE TO OUR STUDENTS) WILL LOSE 13 POINTS BY EIGHTH GRADE, DROPPING TO THE 59TH PERCENTILE.SECONDARY SCHOOL SUCCESS.FOR THE SIXTH CONSECUTIVE YEAR, 100% OF HARLEM ACADEMY EIGHTH GRADERS MATRICULATED AT SELECTIVE SECONDARY SCHOOLS. MORE THAN THREE-QUARTERS MOVED ON TO INDEPENDENT DAY AND BOARDING SCHOOLS WITH FULL-NEED SCHOLARSHIPS, INCLUDING CHAPIN, HORACE MANN, RIVERDALE, AND TRINITY.COLLEGE SUCCESS.OVER THE PAST FOUR YEARS, 98% OF HARLEM ACADEMY GRADUATES ENROLLED IN FOUR-YEAR COLLEGES, COMPARED TO THE NATIONAL AVERAGE OF 51%. HARLEM ACADEMY STUDENTS ARE CURRENTLY ENROLLED AT CARNEGIE MELLON, DARTMOUTH, HAMILTON, HOWARD, NEW YORK UNIVERSITY, PRINCETON, TUFTS, WESLEYAN, AND YALE.PROVIDING A MODEL EDUCATION.HARLEM ACADEMY IS DEDICATED TO SHARING SUCCESSFUL STRATEGIES TO EXTEND ITS IMPACT BEYOND ITS WALLS. THE SCHOOL HAS PUBLISHED SEVERAL ARTICLES IN EDUCATION JOURNALS AND OTHER NATIONAL OUTLETS, REACHING HUNDREDS OF THOUSANDS OF EDUCATORS AND SCHOOL LEADERS AS WELL AS POLICYMAKERS.TOP RATING FROM GUIDESTAR AND CHARITY NAVIGATOR.HARLEM ACADEMY RECEIVED FOUR-STAR RATING FROM CHARITY NAVIGATOR FOR FINANCIAL MANAGEMENT, ACCOUNTABILITY, AND TRANSPARENCY, AS WELL ASGUIDESTARS PLATINUM SEAL OF TRANSPARENCY, HIGHLIGHTING THE SCHOOL'S CONTINUED COMMITMENT TO USE GIFTS EFFECTIVELY TOWARD ADVANCING THE MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vincent Dotoli Head Of School | OfficerTrustee | 40 | $212,642 |
Leonard Smith Finance Director | 40 | $156,936 | |
Lashonda Davis Assistant Head | 40 | $153,206 | |
Vanessa Scanfeld Strategy Director | 40 | $127,475 | |
Katherine Steinbach Development Dir | 40 | $104,583 | |
David B Peterson Board Chair | OfficerTrustee | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $771,107 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,153,445 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,924,552 |
| Total Program Service Revenue | $391,101 |
| Investment income | $7,121 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,322,774 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $57,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $212,648 |
| Compensation of current officers, directors, key employees. | $53,162 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,103,362 |
| Pension plan accruals and contributions | $24,877 |
| Other employee benefits | $183,815 |
| Payroll taxes | $168,193 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $143,094 |
| Advertising and promotion | $111,886 |
| Office expenses | $0 |
| Information technology | $10,360 |
| Royalties | $0 |
| Occupancy | $197,047 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,183 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $396,623 |
| Insurance | $82,352 |
| All other expenses | $215,201 |
| Total functional expenses | $4,493,964 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,271,214 |
| Savings and temporary cash investments | $4,971,883 |
| Pledges and grants receivable | $2,467,331 |
| Accounts receivable, net | $36,149 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $77,421 |
| Net Land, buildings, and equipment | $33,443,136 |
| Investments—publicly traded securities | $167,267 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $40,396 |
| Total assets | $43,474,797 |
| Accounts payable and accrued expenses | $445,952 |
| Grants payable | $0 |
| Deferred revenue | $40,778 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $2,100,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,586,730 |
| Net assets without donor restrictions | $36,129,711 |
| Net assets with donor restrictions | $4,758,356 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $43,474,797 |