FIGURE SKATING IN HARLEM INC

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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

1997

Legal Domicile

Principal Officer

SHARON COHEN

Phone

6466983440

Tax Period

2022-07-01 to 2023-06-30

FIGURE SKATING IN HARLEM INC, founded in 1997, is a community nonprofit in the Recreation & Sports sector that reported $3.2M in total revenue in fiscal year 2022. Revenue decreased 7% compared to the prior year.

Mission

FIGURE SKATING IN HARLEM HELPS GIRLS TRANSFORM THEIR LIVES AND GROW IN CONFIDENCE, LEADERSHIP AND ACADEMIC ACHIEVEMENT. WE ARE THE ONLY ORGANIZATION IN THE WORLD FOR GIRLS OF COLOR THAT COMBINES THE POWER OF EDUCATION WITH ACCESS TO THE ARTISTIC DISCIPLINE OF FIGURE SKATING TO BUILD CHAMPIONS IN LIFE.

Program Service Accomplishments

Program 1

Expenses: $2,465,516 Revenue: $148,551

IN FY23, FIGURE SKATING IN HARLEM EXPANDED OUR SERVICES, IMPLEMENTING A NEW PIPELINE 2 POWER PROGRAM THAT PROVIDES CAREER AND COLLEGE SUPPORT FOR ALUMNAE AGES 18-30. BETWEEN THAT AND OUR CORE I CAN EXCEL PROGRAM, WE SERVED 271 GIRLS AND YOUNG WOMEN THIS YEAR, AN INCREASE OF 60% OVER FY22. FSH ALSO ENCOMPASSES A CHAPTER IN DETROIT, WHICH OFFERS THE SAME CORE ICE PROGRAM. WE REINSTATED OUR SUMMER DREAMS PROGRAM, CONTINUED OUR INTRODUCTORY WINTER DREAMS PROGRAM, AND HELD A SUCCESSFUL CAREER WEEK. OUR STUDENTS SPENT THE YEAR PREPARING FOR OUR FIRST EVER INTERNATIONAL CULTURAL EXCHANGE AND WERE FILMED BY IMAGINE ENTERTAINMENT FOR AN UPCOMING DOCUSERIES AIRING ON THE WORLD'S LARGEST STREAMING PLATFORM.

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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 $3,060,087

Program Service Revenue $148,551

Investment Income $15,451

Other Revenue $0

TOTAL REVENUE $3,224,089

Expense Breakdown

Grants Paid $8,750

Salaries & Benefits $2,222,701

Fundraising Expenses $589,411

Program Expenses $2,465,516

Other Expenses $978,673

TOTAL EXPENSES $3,290,078

Year-over-Year Comparison

	2022	2021	Change
Revenue	$3,224,089	$3,460,195	-0.1%
Expenses	$3,290,078	$2,918,925	+0.1%
Net Income	$-65,989	$541,270	-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

Governance

Voting Members

Independent Members

Employees

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

$252,549

Total Directors