Harlem Academy

What it reported doing in 2024

Commitment to low-income children. Harlem academy provides a full-need scholarship to 100% of enrolled students. The school is committed to a meritocracy where hard work drives the opportunity to realize potential, and no student is turned away for an inability to pay. Expanded enrollment. Since relocating to its permanent campus, harlem academy has increased enrollment from 102 in december 2021 to 182 students in september 2024, expanding access to a rigorous education for students whose potential might otherwise go unrealized. Secondary school placement. Ninety-two percent of eighth graders from the class of 2025 earned full-need scholarships to independent day and boarding schools. Students matriculated at schools including deerfield academy, greenwich country day school, kent school, miss porter's school, and northfield mount hermon, among others. College matriculation. One hundred percent of harlem academy alumni from the class of 2021 enrolled in four-year colleges. Students matriculated at institutions, including the college of the holy cross, howard university, smith college, spelman college, syracuse university, tulane university, university of Pennsylvania, and wesleyan university. Providing a model education. Harlem academy extends its impact by sharing best practices. Faculty and leadership have published 11 articles in education journals and related outlets, reaching educators, school leaders, and policymakers nationwide. Third-party recognition. Harlem academy earned charity navigator's four-star rating, candid's platinum seal of transparency, and the shield of protection from the beau biden foundation.

Financial Efficiency

• Mission deployment rate: 63%; rating input score 63
• Program expense ratio: 83%; rating input score 83
• Fundraising efficiency: $11.41 raised per $1 spent on fundraising; rating input score 42; 42nd percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 95.8%; rating input score 96; 26th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 25.3%; rating input score 81; 81st percentile among comparable filings
• Total-asset coverage ratio: 6.98; rating input score 88; 88th percentile among comparable filings
• Liabilities to assets ratio: 0.02; rating input score 80; 80th percentile among comparable filings
• Officer compensation ratio: 17%; rating input score 16; 16th percentile among comparable filings

Growth

• Program expense growth: 7.9% per year; rating input score 100; 55th percentile among comparable filings
• Revenue growth: 3.8% per year; rating input score 100; 33rd percentile among comparable filings
• Asset growth: 12.1% per year; rating input score 100; 66th percentile among comparable filings