HARLEM CHILDREN'S ZONE PROMISE ACADEMY CHARTER SCHOOL

EIN: 760756768 501(c)(3) Education

NEW YORK, NY

Total Revenue
$28,034,547
Total Expenses
$29,395,421
Total Assets
$75,900,339
Net Assets
$67,977,842
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
NY
Principal Officer
KWAME OWUSU-KESSE
Phone
2123603255
Tax Period
2024-07-01 to 2025-06-30

HARLEM CHILDREN'S ZONE PROMISE ACADEMY CHARTER SCHOOL, founded in 2004, is a mid-sized nonprofit in the Education sector that reported $28.0M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Net assets of $68.0M represent 29 months of operating reserves.

Mission

THE MISSION OF HARLEM CHILDREN'S ZONE PROMISE ACADEMY CHARTER SCHOOL IS TO ENSURE THAT CHILDREN FROM UNDER-SERVED COMMUNITIES ARE ACADEMICALLY, SOCIALLY AND EMOTIONALLY READY TO SUCCEED IN COLLEGE AND TOMORROW'S WORKPLACE. THE SCHOOL'S COMMITTED, CARING STAFF PROVIDE COMPREHENSIVE SERVICES TO CHILDREN IN KINDERGARTEN THROUGH 12TH GRADE - AS WELL AS TO THEIR FAMILIES - SO THEY ARE WELL EQUIPPED FOR THE OPPORTUNITIES AHEAD.

Program Service Accomplishments

Program 1
Expenses: $27,767,652 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. HARLEM CHILDREN'S ZONE PROMISE ACADEMY I CONSISTS OF THE ELEMENTARY, MIDDLE, AND HIGH SCHOOLS, ALL OF WHICH OPERATE AT A SINGLE, DEDICATED SITE LOCATED AT 245 WEST 129TH STREET IN CENTRAL HARLEM. 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 (2024)

Revenue Breakdown

Contributions & Grants $28,034,532
Program Service Revenue $0
Investment Income $13
Other Revenue $2
TOTAL REVENUE $28,034,547

Expense Breakdown

Grants Paid $71,651
Salaries & Benefits $21,699,259
Fundraising Expenses $0
Program Expenses $27,767,652
Other Expenses $7,624,511
TOTAL EXPENSES $29,395,421

Year-over-Year Comparison

2024 2023 Change
Revenue $28,034,547 $31,839,709 -0.1%
Expenses $29,395,421 $30,983,219 -0.1%
Net Income $-1,360,874 $856,490 -2.6%
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
5
Independent Members
3
Employees
256
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
5
$2,502,236
Total Directors
11
$2,145,337
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KWAME OWUSU-KESSE CEO & PRESIDENT 2.00
Officer Director
$0 $247,967 $1,276,422
GEOFFREY CANADA CHAIRMAN 2.00
Officer Director
$0 $52,967 $868,915
MITCH KURZ TREASURER/SECRETARY 2.00
Officer Director
$0 $0 $0
KENNETH LANGONE CHAIRMAN EMERITUS (NON-VOTING) 2.00
Officer Director
$0 $0 $0
ELLANOR BODIE BRIZENDINE TRUSTEE (NON-VOTING) 2.00
Director
$0 $0 $0
STANLEY DRUCKENMILLER TRUSTEE (NON-VOTING) 2.00
Director
$0 $0 $0
DENISE FULLER THRU 062425 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
AISHA TOMLINSON THRU 062425 PARENT REP (NON-VOTING) 2.00
Director
$0 $0 $0
ALFONSO WYATT TRUSTEE 2.00
Director
$0 $0 $0
RALPH STEFANO CFO 2.00
Officer
$0 $0 $356,899
ACHIL PETIT THRU 082024 SUPERINTENDENT 20.00
Highest
$1,189,653 $87,775 $1,277,428
ARI BROWNE DIRECTOR, BUSINESS ADMIN 20.00
Highest
$272,709 $73,163 $345,872
AMY DEAL PRINCIPAL (HIGH SCHOOL) 40.00
Highest
$259,015 $41,238 $300,253
SASKIA BROWN DEPUTY SUPERINTENDENT 20.00
Highest
$331,503 $90,424 $421,927
TOYA STILLEY DIRECTOR, OPERATIONS 20.00
Highest
$262,981 $76,651 $339,632
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 $28,034,547 $29,395,421 $75,900,339 $-1,360,874
2024 No data No data No data No data
2023 $29,828,303 $29,941,591 $77,301,914 $-113,288
2022 $28,035,692 $29,482,049 $78,620,847 $-1,446,357
2021 $24,820,657 $25,975,728 $79,498,246 $-1,155,071
2020 $27,399,800 $25,716,157 $78,934,513 $1,683,643
2019 $24,587,261 $24,809,229 $75,848,222 $-221,968
2018 $23,520,534 $24,257,185 $75,968,037 $-736,651
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