Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $8,407,220

• 1e · Government grants (contributions)

  $4,092,725

• 1f · All other contributions, gifts and grants

  $57,742,994

• 1g · Noncash contributions included above

  $202,376

• 2a · Program service revenue: WELLNESS WORKSHOPS

  total $120,000 · related or exempt $120,000

• 3 · Investment income

  total $72,196 · unrelated business $72,196

• 6a · Gross rents

  real property $4,486,746

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $4,486,746

• 6d · Net rental income or loss

  total $4,486,746 · excluded $4,486,746

• 7a · Gross sales of assets other than inventory

  securities $56,388,511

• 7b · Less cost or other basis and sales expenses

  securities $54,581,950

• 7c · Gain or loss

  securities $1,806,561

• 7d · Net gain or loss

  total $1,806,561 · excluded $1,806,561

• 8a · Fundraising events: gross income

  $366,000

• 8a · Fundraising events: contributions included on line 1c

  $8,407,220

• 8b · Fundraising events: direct expenses

  $393,765

• 8c · Net income from fundraising events

  total -$27,765 · excluded -$27,765

• 11a · Other revenue: GAIN ON LEASE TERMINAT

  total $254,135 · excluded $254,135

• 11d · All other revenue

  total $159,984 · excluded $159,984

• 11e · Other revenue, total

  $414,119

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $5,788,206 · program services $5,788,206

• 2 · Grants to domestic individuals

  total $8,617,049 · program services $8,617,049

• 5 · Compensation of officers, directors and key employees

  total $4,001,196 · program services $3,388,398 · management and general $506,312 · fundraising $106,486

• 7 · Other salaries and wages

  total $56,287,145 · program services $47,666,560 · management and general $7,122,590 · fundraising $1,497,995

• 8 · Pension plan contributions

  total $2,541,570 · program services $2,143,142 · management and general $320,240 · fundraising $78,188

• 9 · Other employee benefits

  total $5,487,091 · program services $4,629,570 · management and general $691,775 · fundraising $165,746

• 10 · Payroll taxes

  total $5,124,182 · program services $4,355,022 · management and general $650,751 · fundraising $118,409

• 11b · Fees: legal

  total $510,385 · management and general $510,385

• 11c · Fees: accounting

  total $255,906 · management and general $255,906

• 11d · Fees: lobbying

  total $122,200 · program services $122,200

• 11f · Fees: investment management

  total $9,463,097 · management and general $9,463,097

• 11g · Fees: other

  total $11,807,402 · program services $10,732,028 · management and general $1,073,495 · fundraising $1,879

• 12 · Advertising and promotion

  total $470,297 · program services $23,515 · management and general $446,782

• 13 · Office expenses

  total $166,145 · program services $155,619 · management and general $8,190 · fundraising $2,336

• 14 · Information technology

  total $3,547,326 · program services $2,648,719 · management and general $836,438 · fundraising $62,169

• 16 · Occupancy

  total $16,607,888 · program services $14,915,920 · management and general $1,657,324 · fundraising $34,644

• 17 · Travel

  total $2,748,683 · program services $2,691,785 · management and general $55,079 · fundraising $1,819

• 22 · Depreciation, depletion and amortization

  total $3,011,047 · program services $2,047,512 · management and general $963,535

• 23 · Insurance

  total $1,022,223 · management and general $1,022,223

• 24a · Other expenses: PRINTING, PUBLICATIONS

  total $3,678,866 · program services $3,442,297 · management and general $219,721 · fundraising $16,848

• 24b · Other expenses: FOOD

  total $2,542,351 · program services $2,462,236 · management and general $76,152 · fundraising $3,963

• 24c · Other expenses: EQUIPMENT RENT & MAINT.

  total $1,497,354 · program services $1,302,698 · management and general $194,656

• 24d · Other expenses: UTILITIES

  total $890,713 · program services $647,320 · management and general $239,420 · fundraising $3,973

• 24e · All other expenses

  total $2,406,960 · program services $2,031,118 · management and general $248,156 · fundraising $127,686

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $166,357 · end of year $194,295

• 2 · Savings and temporary cash investments

  beginning of year $69,712,286 · end of year $56,006,311

• 3 · Pledges and grants receivable

  beginning of year $32,938,605 · end of year $9,995,269

• 4 · Accounts receivable

  beginning of year $1,081,232 · end of year $752,509

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,705,929 · end of year $4,856,697

• 10a · Land, buildings and equipment: cost or other basis

  $203,326,627

• 10b · Land, buildings and equipment: accumulated depreciation

  $69,706,172

• 10c · Land, buildings and equipment, net

  beginning of year $122,114,384 · end of year $133,620,455

• 11 · Investments: publicly traded securities

  beginning of year $18,415,575 · end of year $3,799,390

• 12 · Investments: other securities

  beginning of year $836,734,542 · end of year $1,016,072,175

• 15 · Other assets

  beginning of year $84,550,376 · end of year $100,012,978

• 17 · Accounts payable and accrued expenses

  beginning of year $14,202,625 · end of year $17,836,161

• 18 · Grants payable

  beginning of year $54,959,372 · end of year $53,127,393

• 25 · Other liabilities

  beginning of year $116,720,823 · end of year $128,710,906

• 27 · Net assets without donor restrictions

  beginning of year $903,489,679 · end of year $1,046,226,645

• 28 · Net assets with donor restrictions

  beginning of year $80,046,787 · end of year $79,408,974

The filer's explanations (Part III)

PART I, LINES 4A-B

FORM 990, SCHEDULE J, LINE 4(A): FORMER SR. MANAGING DIRECTOR, HR, JUSTIN MAKER'S CALENDAR YEAR END 2024 COMPENSATION IS COMPRISED OF SEVERAL DIFFERENT COMPONENTS: - A SEVERANCE PAYMENT IN THE AMOUNT OF $127,444. THIS AMOUNT IS REPORTED IN SCHEDULE J, PART II, COLUMN (B)(III). - PAYOUT OF HIS ACCUMULATED GROWTH FUND IN THE AMOUNT OF $442,485. THIS AMOUNT IS REPORTED IN SCHEDULE J, PART II, COLUMN (B)(II). MANAGING DIRECTOR, JOSEPH CORDERO'S CALENDAR YEAR END 2024 COMPENSATION IS COMPRISED OF SEVERAL DIFFERENT COMPONENTS: - A SEVERANCE PAYMENT IN THE AMOUNT OF $48,462. THIS AMOUNT IS REPORTED IN SCHEDULE J, PART II, COLUMN (B)(III). - PAYOUT OF HIS ACCUMULATED GROWTH FUND IN THE AMOUNT OF $341,753. THIS AMOUNT IS REPORTED IN SCHEDULE J, PART II, COLUMN (B)(II). MANAGING DIRECTOR, HCZ K-12 AFTERSCHOOL, SERINA MOYA'S CALENDAR YEAR END 2024 COMPENSATION IS COMPRISED OF SEVERAL DIFFERENT COMPONENTS: - A SEVERANCE PAYMENT IN THE AMOUNT OF $66,010. THIS AMOUNT IS REPORTED IN SCHEDULE J, PART II, COLUMN (B)(III). - PAYOUT OF HIS ACCUMULATED GROWTH FUND IN THE AMOUNT OF $235,239. THIS AMOUNT IS REPORTED IN SCHEDULE J, PART II, COLUMN (B)(II). FORM 990, SCHEDULE J, LINE 4(B) HARLEM CHILDREN'S ZONE HAS A SECTION 457(F) PLAN FOR CERTAIN ELIGIBLE EMPLOYEES. THIS GROWTH FUND PLAN ("THE PLAN") IS A TAX-DEFERRED EMPLOYEE SAVINGS PLAN THAT AIMS TO SERVE AS A RETENTION TOOL FOR DIRECTORS, OFFICERS, PRINCIPALS AND SENIOR STAFF. HARLEM CHILDREN'S ZONE MAKES AN ANNUAL DEPOSIT INTO THE PLAN THAT IS VALUED AT 150% OF THE INDIVIDUAL EMPLOYEE'S BONUS FOR THE CURRENT YEAR. THE EMPLOYEE'S ACCOUNT ACCUMULATES ASSOCIATED EARNINGS OR LOSSES ON THE INVESTMENT OF THE CONTRIBUTED AMOUNT IN THE NO MARGIN SENIOR GROWTH FUND, WHICH IS MANAGED BY DUQUESNE FAMILY OFFICE, AT NO COST TO HARLEM CHILDREN'S ZONE OR THE EMPLOYEE. THE AMOUNTS CONTRIBUTED BY HARLEM CHILDREN'S ZONE, ALONG WITH THE ASSOCIATED EARNINGS OR LOSSES, VEST AFTER FIVE YEARS FROM THE DATE OF THE INITIAL CONTRIBUTION AND WILL BE PAID TO ELIGIBLE EMPLOYEES WHEN VESTED. TERMINATED EMPLOYEES BECOME VESTED IMMEDIATELY AT THE DATE OF THEIR TERMINATION. EMPLOYEES WHO MEET THE AGE AND SERVICE PROVISIONS OF THE PLAN (AGE VESTING) ARE VESTED IMMEDIATELY UPON MEETING THOSE PROVISIONS. HOWEVER, IF A PARTICIPATING EMPLOYEE LEAVES VOLUNTARILY, INCLUDING RETIREMENT IF THEY HAVE NOT REACHED THE AGE VESTING PROVISIONS, THEN THEIR CUMULATIVE UNVESTED CONTRIBUTION MADE BY HCZ AND ASSOCIATED EARNINGS OR LOSSES ARE FORFEITED. FOR CALENDAR YEAR 2024, EMPLOYEES RECEIVED A PAYOUT OF DEFERRED COMPENSATION FROM THE PLAN AND THOSE AMOUNTS HAVE BEEN RECORDED IN SCHEDULE J, PART II, COLUMN (B)(II) AND, BECAUSE THAT PAYOUT REPRESENTS COMPENSATION THAT WAS REPORTED ON PREVIOUS FORMS 990 AS DEFERRED COMPENSATION IN SCHEDULE J, PART II, COLUMN (C), IT IS RECORDED IN SCHEDULE J, PART II, COLUMN (F). GEOFFREY CANADA, AN OFFICER OF HCZ, MET THE AGE AND SERVICE PROVISIONS OF THE 457 (F) PLAN (AGE VESTING) FOR CALENDAR YEAR 2024 THAT RESULTED IN IMMEDIATE VESTING OF HCZ'S GROWTH FUND CONTRIBUTION. THIS AMOUNT IS INCLUDED IN FORM 990, SCHEDULE J, COLUMN B (II).

PART I, LINE 7

HARLEM CHILDREN'S ZONE PROVIDES ANNUAL PERFORMANCE BONUSES TO ITS EMPLOYEES. THE BONUSES ARE DETERMINED AND APPROVED BY THE CEO, KWAME OWUSU-KESSE. BONUSES ARE APPROVED IN JUNE AND PAID OUT IN JULY (WHICH IS THE FOLLOWING FISCAL YEAR); HOWEVER, FOR 990 REPORTING PURPOSES, THE BONUS IS BOTH APPROVED AND PAID IN THE SAME CALENDAR YEAR (BUT DIFFERENT FISCAL YEARS); ACCORDINGLY, THE BONUSES ARE REPORTED AS CURRENT COMPENSATION IN COLUMN (B)(II). KWAME OWUSU-KESSE AND GEOFFREY CANADA RECEIVED BONUS COMPENSATION DURING THE YEAR PURSUANT TO AN INCENTIVE PROGRAM APPROVED BY THE BOARD OF TRUSTEES. THE BONUS WAS BASED ON THE ACHIEVEMENT OF PRE ESTABLISHED, OBJECTIVE PERFORMANCE GOALS ALIGNED WITH HARLEM CHILDREN ZONE'S STRATEGIC PRIORITIES, INCLUDING FINANCIAL STEWARDSHIP, OPERATIONAL EFFECTIVENESS, AND ADVANCEMENT OF THE ORGANIZATION'S MISSION. THE BOARD REVIEWED THEIR PERFORMANCE AGAINST THESE CRITERIA AND DETERMINED THAT THE BONUS WAS REASONABLE AND APPROPRIATE IN LIGHT OF THE RESULTS ACHIEVED AND COMPARABLE COMPENSATION PRACTICES AT PEER INSTITUTIONS. CHIEF INVESTMENT OFFICER MICHAEL POHLY RECEIVED A PERFORMANCE BASED BONUS OF $225,000 DURING CALENDAR YEAR 2024. THE BONUS WAS DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS BASED ON OBJECTIVE, PRE ESTABLISHED PERFORMANCE CRITERIA TIED TO THE MANAGEMENT, OVERSIGHT, AND PERFORMANCE OF THE FUND'S INVESTMENT PORTFOLIO AND WAS INTENDED TO REWARD ACHIEVEMENT OF INVESTMENT RELATED GOALS CONSISTENT WITH THE FUND'S LONG TERM OBJECTIVES.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• RHEEDLEN 125TH STREET LLC

  HOLD PROPERTY · NY · income $0 · assets $0

  Directly controlled by HCZ

• HCZ PROMISE LLC

  HOLD PROPERTY · NY · income $0 · assets $0

  Directly controlled by HCZ

• 168 TITICUS RD LLC

  HOLD PROPERTY · NY · income $0 · assets $0

  Directly controlled by HCZ