EAST HARLEM ARTS AND EDUCATION LOCAL DEVELOPMENT CORPORATION

EIN: 132911879 501(c)(3)

NEW YORK, NY

Total Revenue
$4,267,984
Total Expenses
$4,138,267
Total Assets
$6,148,105
Net Assets
$2,238,269
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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
1977
Legal Domicile
NY
Principal Officer
JOEL OSORIO
Phone
3473611193
Tax Period
2024-07-01 to 2025-06-30

EAST HARLEM ARTS AND EDUCATION LOCAL DEVELOPMENT CORPORATION, founded in 1977, is a community nonprofit that reported $4.3M in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Expenses of $4.1M left a modest 3% surplus.

Mission

TO PROVIDE BUILDING MANAGEMENT AND RENTAL REAL ESTATE TO NON-PROFIT OR GOVERNMENTAL AGENCIES WHOSE MISSIONS IS STRENGTHEN THE SENSE OF SHARED COMMUNITY AND CULTURE AMONG PEOPLE OF DIFFERENT BACKGROUNDS THROUGH EDUCATION AND THE 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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $4,228,909
Investment Income $310
Other Revenue $38,765
TOTAL REVENUE $4,267,984

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,185,137
Fundraising Expenses $0
Program Expenses $3,287,969
Other Expenses $2,953,130
TOTAL EXPENSES $4,138,267

Year-over-Year Comparison

2024 2023 Change
Revenue $4,267,984 $4,574,019 -0.1%
Expenses $4,138,267 $5,761,609 -0.3%
Net Income $129,717 $-1,187,590 -1.1%
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

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Governance

Voting Members
5
Independent Members
3
Employees
22
Volunteers
N/A

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
3
$311,123
Total Directors
7
$311,123
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CARLOS GALVEZ thru 5-6-2025 Chairman 3.00
Officer Director
$49,660 $0 $311,123
BONNIE NICHOLS Dir.of Facilities 35.00
$192,169 $49,342 $241,511
ERICA VARGAS thru 3-6-2025 Treasurer 1.00
Officer Director
$0 $0 $0
DAVID PEREZ Treasurer Vice President 3.00
Officer Director
$0 $0 $0
MOHAMMAD SHOAIB Director 3.00
Director
$0 $0 $0
JOEL OSORIO 6-23-2025 Pres President 1.00
Director
$0 $0 $0
GONZALO CASALS not disclosed Secretary 1.00
Director
$0 $0 $0
PATRICK CHARPENEL not discl Director 1.00
Director
$0 $0 $0
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 $4,267,984 $4,138,267 $6,148,105 $129,717
2024 $4,574,019 $5,761,609 $8,628,152 $-1,187,590
2023 $4,152,575 $3,400,521 $9,644,534 $752,054
2022 $3,741,090 $3,092,890 $4,344,552 $648,200
2021 $3,050,791 $2,681,783 $3,716,861 $369,008
2019 $4,024,547 $3,345,372 $3,185,848 $679,175
2018 $3,075,955 $2,904,831 $2,277,968 $171,124
2018 $3,075,955 $2,904,831 $2,277,968 $171,124
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