HARLEM ACADEMY (EIN 562454573) - 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

2004

Legal Domicile

Principal Officer

VINCENT DOTOLI

Phone

2123482600

Tax Period

2024-07-01 to 2025-06-30

HARLEM ACADEMY, founded in 2004, is a community nonprofit in the Education sector that reported $9.1M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $2.3M, a strong 25% operating margin.

Mission

HARLEM ACADEMY DRIVES EQUITY OF OPPORTUNITY FOR PROMISING CHILDREN (GRADES K-8), GUIDING THEM TO THRIVE AT THE HIGHEST ACADEMIC LEVELS AND ONE DAY MAKE A MARK ON THE WORLD.

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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 (2024)

Revenue Breakdown

Contributions & Grants $8,342,151

Program Service Revenue $555,360

Investment Income $218,567

Other Revenue $0

TOTAL REVENUE $9,116,078

Expense Breakdown

Grants Paid $88,000

Salaries & Benefits $3,864,462

Fundraising Expenses $731,337

Program Expenses $5,651,200

Other Expenses $2,859,141

TOTAL EXPENSES $6,811,603

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,116,078	$8,335,618	+0.1%
Expenses	$6,811,603	$6,301,230	+0.1%
Net Income	$2,304,475	$2,034,388	+0.1%

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

300

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

$236,752

Total Directors

$236,752

Key Employees

$365,336

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID B PETERSON	CHAIRMAN	20.00	Officer Director	$0	$0	$0
CAROL KENNEY	TREASURER	5.00	Officer Director	$0	$0	$0
RODNEY POPE	SECRETARY	5.00	Officer Director	$0	$0	$0
TONY ASNES	TRUSTEE	5.00	Director	$0	$0	$0
RICHARD A AXILROD	TRUSTEE	5.00	Director	$0	$0	$0
AVI BANYASZ	TRUSTEE	5.00	Director	$0	$0	$0
W GRAHAM COLE JR	TRUSTEE	5.00	Director	$0	$0	$0
WILL COOK	TRUSTEE	5.00	Director	$0	$0	$0
JOSHUA EASTERLY	TRUSTEE	5.00	Director	$0	$0	$0
TY ELIE	TRUSTEE	5.00	Director	$0	$0	$0
MARY GANZENMULLER	TRUSTEE	5.00	Director	$0	$0	$0
ROB HARTEVELDT	TRUSTEE	5.00	Director	$0	$0	$0
VALARIE HING	TRUSTEE	5.00	Director	$0	$0	$0
THOMAS KLEIN	TRUSTEE	5.00	Director	$0	$0	$0
ANN MACRAE	TRUSTEE	5.00	Director	$0	$0	$0
ELIZABETH MCHENRY	TRUSTEE	5.00	Director	$0	$0	$0
BETSY MICHEL	TRUSTEE	5.00	Director	$0	$0	$0
HANK PRYBYLSKI	TRUSTEE	5.00	Director	$0	$0	$0
TOM REYCRAFT	TRUSTEE	5.00	Director	$0	$0	$0
RICHARD SCHAPS	TRUSTEE	5.00	Director	$0	$0	$0
HILLARY THOMAS	TRUSTEE	5.00	Director	$0	$0	$0
MELISSA THOMAS-HUNT	TRUSTEE	5.00	Director	$0	$0	$0
ALAN WASHINGTON	TRUSTEE	5.00	Director	$0	$0	$0
VINCENT DOTOLI	EX-OFFICIO/HEAD OF SCHOOL	40.00	Officer Director	$230,159	$6,593	$236,752
LEONARD SMITH	FINANCE DIRECTOR	40.00	Key Emp	$174,186	$5,876	$180,062
KATHERINE STEINBACH	DEVELOPMENT DIRECTOR	40.00	Key Emp	$167,813	$17,461	$185,274
KHALIAH ADAMS-JOSEPH	ASSISTANT HEAD OF SCHOOL	40.00	Highest	$146,640	$10,722	$157,362
VANESSA SCANFELD	STRATEGY DIRECTOR	40.00	Highest	$144,944	$4,348	$149,292
KRISTY CASTRO	PRIMARY & ELEMENTARY SCHOOL DIRECTOR	40.00	Highest	$117,075	$14,481	$131,556
WILLIAM BELLER	MIDDLE SCHOOL DIRECTOR	40.00	Highest	$110,337	$9,795	$120,132

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	$9,116,078	$6,811,603	$47,557,131	$2,304,475
2024	$8,335,618	$6,301,230	$45,003,724	$2,034,388
2023	$5,546,434	$5,378,216	$42,923,413	$168,218
2022	$10,322,774	$4,493,964	$43,474,797	$5,828,810
2021	$12,918,363	$3,478,502	$36,968,972	$9,439,861
2020	$9,899,504	$3,932,463	$26,005,690	$5,967,041
2019	$4,735,984	$3,965,880	$19,207,143	$770,104
2018	$7,784,205	$3,830,804	$19,757,951	$3,953,401

HARLEM ACADEMY