HARLEM SCHOOL OF THE ARTS INC (EIN 132552500) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1964

Legal Domicile

Principal Officer

JAMES C HORTON

Phone

2129264100

Tax Period

2022-07-01 to 2023-06-30

HARLEM SCHOOL OF THE ARTS INC, founded in 1964, is a community nonprofit that reported $5.5M in total revenue in fiscal year 2022. Expenses of $6.7M exceeded revenue, resulting in a 20% operating deficit.

Mission

THE HARLEM SCHOOL OF THE ARTS' MISSION IS TO EMPOWER AND ENRICH YOUNG PEOPLE AND ADULTS FROM HARLEM AND BEYOND THROUGH DIRECT EXPOSURE TO, AND TRAINING IN, THE CORE DISCIPLINES OF DANCE, MUSIC, THEATER AND VISUAL ARTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $3,434,040

Program Service Revenue $1,842,334

Investment Income $147,251

Other Revenue $122,065

TOTAL REVENUE $5,545,690

Expense Breakdown

Grants Paid $715,000

Salaries & Benefits $3,288,049

Fundraising Expenses $953,464

Program Expenses $4,837,559

Other Expenses $2,662,379

TOTAL EXPENSES $6,665,428

Year-over-Year Comparison

	2022	2021	Change
Revenue	$5,545,690	$5,380,840	+0.0%
Expenses	$6,665,428	$6,006,206	+0.1%
Net Income	$-1,119,738	$-625,366	+0.8%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

174

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$62,308

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARLES J HAMILTON JR	CHAIR EMERITUS	2.00	Officer Director	$0	$0	$0
LISA DAVIS	INTERIM CO-BOARD CHAIR	2.00	Officer Director	$0	$0	$0
KENNETH W TABER	INTERIM CO-BOARD CHAIR	2.00	Officer Director	$0	$0	$0
JOSE CLAXTON	SECRETARY	2.00	Officer Director	$0	$0	$0
JULIAN JOHNSON	TREASURER	2.00	Officer Director	$0	$0	$0
SANDRA BUCHANAN HURSE	TRUSTEE	2.00	Director	$0	$0	$0
LISA DILLER	TRUSTEE	2.00	Director	$0	$0	$0
EZRA EZZARD	TRUSTEE	2.00	Director	$0	$0	$0
KRISTINE G MANOUKIAN	TRUSTEE	2.00	Director	$0	$0	$0
JOSHUA MARTIN	TRUSTEE	2.00	Director	$0	$0	$0
JASON MATHEWS	TRUSTEE	2.00	Director	$0	$0	$0
GABRIELLA E MORRIS	TRUSTEE	2.00	Director	$0	$0	$0
JACQUELINE NICKELBERRY	TRUSTEE	2.00	Director	$0	$0	$0
DAVID A PICON	TRUSTEE	2.00	Director	$0	$0	$0
KAREN SANDERS	TRUSTEE	2.00	Director	$0	$0	$0
RONA SEBASTIAN	TRUSTEE	2.00	Director	$0	$0	$0
STEPHEN S USHER	TRUSTEE	2.00	Director	$0	$0	$0
WENDY WASHINGTON	TRUSTEE	2.00	Director	$0	$0	$0
JAMES C HORTON	PRESIDENT	40.00	Officer	$62,308	$0	$62,308
WALTER M FRANKENBERGER	CHIEF DEVELOPMENT OFFICER	40.00	Highest	$168,530	$15,326	$183,856
WILLIAM L HOGANS	CHIEF EDUCATION OFFICER	40.00	Highest	$129,376	$786	$130,162

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$5,545,690	$6,665,428	$15,565,010	$-1,119,738
2022	$5,380,840	$6,006,206	$16,306,795	$-625,366
2021	$5,766,043	$4,629,849	$18,036,300	$1,136,194
2020	$10,267,859	$5,494,736	$17,550,779	$4,773,123
2019	$9,838,897	$5,301,570	$11,152,257	$4,537,327
2018	$6,190,482	$4,674,702	$6,757,827	$1,515,780

HARLEM SCHOOL OF THE ARTS INC