HARLEM CHILDREN'S ZONE PROMISE ACADEMY CHARTER SCHOOL II

EIN: 342049530 501(c)(3) Education

NEW YORK, NY

Total Revenue
$26,020,605
Total Expenses
$29,562,843
Total Assets
$72,952,174
Net Assets
$129,618
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2005
Legal Domicile
NY
Principal Officer
KWAME OWUSU-KESSE
Phone
2123603255
Tax Period
2023-07-01 to 2024-06-30

HARLEM CHILDREN'S ZONE PROMISE ACADEMY CHARTER SCHOOL II, founded in 2005, is a mid-sized nonprofit in the Education sector that reported $26.0M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. Expenses of $29.6M exceeded revenue, resulting in a 14% operating deficit.

Mission

TO PROVIDE HIGH QUALITY, STANDARDS-BASED ACADEMIC PROGRAMS FOR STUDENTS, GRADES K-12.

Program Service Accomplishments

Program 1
Expenses: $27,843,304 Revenue: $0

THE PROMISE ACADEMY IS UNPARALLELED IN ITS EXCELLENCE, RIGOR, AND CARE. IN ADDITION TO A HIGH-QUALITY, STANDARDS-BASED EDUCATION STUDENTS AND THEIR FAMILIES HAVE ACCESS TO HCZ'S COMPREHENSIVE NETWORK...

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THE PROMISE ACADEMY IS UNPARALLELED IN ITS EXCELLENCE, RIGOR, AND CARE. IN ADDITION TO A HIGH-QUALITY, STANDARDS-BASED EDUCATION STUDENTS AND THEIR FAMILIES HAVE ACCESS TO HCZ'S COMPREHENSIVE NETWORK OF SUPPORTS, INCLUDING COUNSELING, BENEFITS ASSISTANCE, AND OTHER SOCIAL SERVICES. OUR PROMISE IS TO DO WHATEVER IT TAKES TO ADDRESS ANY ISSUE, EVEN THOSE OUTSIDE OF THE CLASSROOM, THAT CAN HINDER A CHILD'S FUTURE. OUR APPROACH IS TO ADDRESS THE WHOLE CHILD, AND TO DO SO OVER YEARS AND YEARS. THAT MEANS WE OFFER A HIGH-QUALITY EDUCATION, AND WE ALSO DO WHATEVER IT TAKES TO ADDRESS ANY ISSUE EVEN THOSE OUTSIDE THE CLASSROOM THAT CAN HINDER A CHILD'S SUCCESS. WE HAVE HUNDREDS OF EXPERIENCED FACULTY DEDICATED TO FOSTERING OUR SCHOLARS' INTELLIGENCE, HEALTH, CHARACTER, AND CIVIC-MINDEDNESS. OUR TWO K-12 SCHOOLS HAVE LONGER SCHOOL DAYS AND YEARS THAN TRADITIONAL PUBLIC SCHOOLS, SO SCHOLARS HAVE THE TIME THEY NEED TO MASTER THEIR CORE SUBJECTS AND TO FULLY EXPERIENCE THE SCIENCES, THE ARTS, AND PHYSICAL FITNESS. TO THAT END, THE SCHOOL HAS AN EXTENDED SCHOOL DAY TO GIVE STUDENTS MORE TIME ON-TASK TO MASTER BASIC SUBJECTS AND HAVE ENOUGH TIME TO PURSUE SCIENCE, SOCIAL STUDIES, THE ARTS AND PHYSICAL EDUCATION. THE STUDENTS ALSO HAVE ACCESS TO A FREE AFTER-SCHOOL PROGRAM THAT WORKS HAND IN HAND WITH THE DAY SCHOOL AS WELL AS OFFERING STUDENTS ENRICHMENT CLASSES IN A VARIETY OF DISCIPLINES SUCH AS DANCE, PHOTOGRAPHY, CHESS AND MORE. THE SCHOOL ALSO HAS A MULTI-FACETED PROGRAM TO MAKE SURE STUDENTS ARE READY FOR COLLEGE, WHICH INCLUDES SAT PREPARATION CLASSES, COLLEGE COUNSELING AND CAMPUS VISITS, AS WELL AS SUPPORT FOR THE COLLEGE APPLICATION AND SELECTION PROCESSES. AS A RESULT, PROMISE ACADEMY STUDENTS ACHIEVE HIGHER AGGREGATE SCORES ON THE ENGLISH LANGUAGE ARTS TEST THAN STUDENTS IN THE LOCAL DISTRICT 5, NEW YORK CITY AS A WHOLE, NEW YORK STATE AS A WHOLE, NEW YORK STATE WHITE AND BLACK STUDENTS, AND NEW YORK CITY BLACK STUDENTS. ON THE MATH EXAM, THEY OUTPERFORM THE LOCAL DISTRICT, NEW YORK CITY, NEW YORK STATE, NEW YORK CITY BLACKS STUDENTS, NEW YORK CITY AND NEW YORK STATE WHITE STUDENTS. FOR MORE DETAILED INFORMATION ABOUT THE ACADEMY'S PROGRAMMATIC ACTIVITIES, PLEASE VISIT WWW.HCZPROMISE.ORG.

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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 (2023)

Revenue Breakdown

Contributions & Grants $25,873,611
Program Service Revenue $0
Investment Income $20
Other Revenue $146,974
TOTAL REVENUE $26,020,605

Expense Breakdown

Grants Paid $158,820
Salaries & Benefits $17,814,145
Fundraising Expenses $0
Program Expenses $27,843,304
Other Expenses $11,589,878
TOTAL EXPENSES $29,562,843

Year-over-Year Comparison

2023 2022 Change
Revenue $26,020,605 $27,936,105 -0.1%
Expenses $29,562,843 $29,140,859 +0.0%
Net Income $-3,542,238 $-1,204,754 +1.9%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
7
Independent Members
5
Employees
203
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
7
$3,131,122
Total Directors
11
$2,119,189
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KWAME OWUSU-KESSE PRESIDENT/CEO 2.00
Officer Director
$0 $247,633 $1,166,373
MITCH KURZ TREASURER/SECRETARY 2.00
Officer Director
$0 $0 $0
GEOFFREY CANADA CHAIRMAN 2.00
Officer Director
$0 $217,633 $952,816
KENNETH LANGONE CHAIRMAN EMERITUS 2.00
Officer Director
$0 $0 $0
ELLANOR BODIE BRIZENDINE TRUSTEE (NON-VOTING) 2.00
Director
$0 $0 $0
FATIME CADOO PARENT REP (NON-VOTING) 2.00
Director
$0 $0 $0
STANLEY DRUCKENMILLER TRUSTEE 2.00
Director
$0 $0 $0
DENISE FULLER TRUSTEE (NON-VOTING) 2.00
Director
$0 $0 $0
WILLIE MAE LEWIS TRUSTEE 2.00
Director
$0 $0 $0
KEITH MEISTER TRUSTEE (NON-VOTING) 2.00
Director
$0 $0 $0
ALFONSO WYATT TRUSTEE 2.00
Director
$0 $0 $0
CONNOR FOURNIER CFO (THRU 02/2024) 2.00
Officer
$0 $87,393 $483,977
RALPH STEFANO INTERM CFO (AS OF 02/2024) 2.00
Officer
$0 $0 $0
NANA A ANNAN COO (THRU 07/2023) 2.00
Officer
$0 $122,381 $527,956
AJENE A CHRISTIAN ASSISTANT PRINCIPAL 40.00
Highest
$215,136 $56,454 $271,590
AMANDA NEAL PRINCIPAL 40.00
Highest
$249,616 $56,637 $306,253
RYAN CARROLL PRINCIPAL 40.00
Highest
$244,067 $68,256 $312,323
CHAKYIA COLES EDUCATION DIRECTOR 40.00
Highest
$195,085 $44,349 $239,434
KENNETH WARD ASSISTANT PRINCIPAL 40.00
Highest
$198,883 $28,612 $227,495
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 $26,020,605 $29,562,843 $72,952,174 $-3,542,238
2023 $27,936,105 $29,140,859 $67,498,496 $-1,204,754
2022 $25,490,348 $26,132,331 $11,603,110 $-641,983
2021 $22,897,275 $23,098,489 $10,563,409 $-201,214
2020 $25,513,310 $23,636,843 $9,348,046 $1,876,467
2019 $22,784,583 $21,295,334 $7,128,389 $1,489,249
2018 $21,209,369 $20,843,699 $5,677,195 $365,670
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