2013-05-09T09:16:07-05:00 2012-06-30 GRANT THORNTON LLP 666 THIRD AVENUE NEW YORK NY 100174057 990 2011-07-01 760756768 HARLEM CHILDREN'S ZONE PROMISE ACADEMY charter school % TRACEY COSTELLO HARL 2123603255 35 EAST 125TH STREET NEW YORK NY 10035 mark moyer 2013-03-26 true Scott Thompsett 2125990100 2011 2016-02-25 16:41:14Z GEOFFREY CANADA 35 EAST 125TH STREET NEW YORK NY 10035 15931640 false X WWW.HCZPROMISEACADEMY.ORG X 2004 NY To provide high quality, standards-based academic programs for students, grades k-12, from underserved communities and underperforming school districts. 11 10 119 0 0 0 15359744 15832609 0 0 105 100 59880 98931 15419729 15931640 0 0 0 0 10836521 12289899 0 0 0 2498153 3231071 13334674 15520970 2085055 410670 7358049 8365080 5177039 5773400 2181010 2591680 X The mission of Promise Academy I Charter School is to prepare children, K-12, for college and the high-skills job market. The school will do whatever it takes to work with students and their families to ensure that our students are on-track academically, self-reliant, healthy, civic-minded and well-rounded. false false 14575396 At the end of the 2011-12 academic year, Promise Academy I graduated its first high-school class and 100 percent of the children were accepted to college. On its NYC Department of Education Progress Report for the 2011-12 year, the Promise Academy high school received an "A" and was placed in the 99th percentile for high schools citywide with the sixth-highest score in the city. The city's progress report also took into account the high Regents exam passing rates of our students: 96% passed the English exam, 98% passed the Integrated Algebra test and 96% passed U.S. History. Overall, the school's scores on the statewide exams, given to students from third through eighth grade, outpaced the surrounding district scores. On the math exam, Promise students were 67.6% on or above grade level, while the District 5 students were at 39%, citywide students were at 60% and statewide students were at 64.8%. On the English Language Arts exam, Promise students overall were 42.8 percent on or above grade level, compared to 29.1% for District 5 students. A study by Harvard economist Dr. Roland Fryer compared the performance of the school's students - picked through an admission lottery - with a cohort of children who had not been picked in the lottery. He found that Promise Academy students had closed the achievement gap in several grades and narrowed it in others. A second study found that compared to the children who did not win the admission lottery, the Promise Academy students had remarkably higher rates of college acceptance, and lower rates of incarceration and teen pregnancy. The students have a longer school day and a longer school year than children in traditional public schools. The students are in school for 58% more time than traditional public schools. In addition, almost all of the children participate in our after-school programming, which includes tutoring, homework help and enriching learning experiences, from debating clubs to robotics to drama. With those additional hours, a typical Promise Academy student is with us for 93% more time than a student is in traditional public school. Because we are concerned with the entire child, we provide free medical, dental and mental-health service to our students at a school-based health center through a partnership with the Children's Health Fund, New York Presbyterian Hospital and Columbia University's Mailman School of Public Health. We also provide all of our students a freshly made, healthy breakfast, lunch and snack every day. We have also made sure that the children have access to the best and latest education technology: computer labs, Smart boards in the classroom, computer-based assessment software. Because of our longer school day, we are also able to ensure that our students learn about the arts, in part through a unique partnership we have with Jazz at Lincoln Center that is teaching the children how to play jazz and about its history. 14575396 true true false false false false false false false false true false false true true true true false true false false false false false false false false false false true false false false false false false false false true false false false false true false false false false true 2 0 true 119 true false false false false false false false false false false X 11 10 true false false false false false false true true false false true true true true true true true true false X TRACEY COSTELLO 2123603255 35 EAST 125TH STREET NEW YORK NY 10035 Kenneth Langone 2.0 X X 0 0 0 Geoffrey Canada 2.0 X X 0 305175 31280 Mitch Kurz 2.0 X X 0 0 0 Aisha Tomlinson 2.0 X 0 0 0 Stanley Druckenmiller 2.0 X 0 0 0 Arlene Gibson 2.0 X 0 0 0 Denise Nash-Fulller 2.0 X 0 0 0 Madeline White 2.0 X 0 0 0 Alfonso Wyatt 2.0 X 0 0 0 Willie Mae Lewis 2.0 X 0 0 0 Dorlin Reyes 2.0 X 0 0 0 Marquitta Speller 40.0 X 156464 72596 dennis McKesey X 285273 38283 Tonya White 40.0 X 136903 56417 Shakira Petit 40.0 X 128137 35961 Achil Petit 40.0 X 141605 73107 848382 305175 307644 16 false true false NONE 0 1522537 14310072 877339 15832609 0 100 100 0 0 0 0 0 0 REIMBURSEMENTS/REBATES (TELECOM) 900099 89186 89186 OTHER INCOME 900099 9745 9745 98931 15931640 99031 0 0 0 0 0 0 9800539 9134129 666410 225000 213749 11251 1309284 1184819 124465 955076 893883 61193 0 0 141140 141140 0 0 0 314485 291771 22714 0 239689 227705 11984 237849 225957 11892 0 8139 2803 5336 151249 149845 1404 0 0 0 0 167475 159101 8374 25600 24320 1280 FOOD 900315 900315 CLASSROOM SUPPLIES 368225 368225 TRAINING 110560 107866 2694 EQUIPMENT RENTAL & MAINTENANCE 151527 143951 7576 414818 405817 9001 15520970 14575396 945574 0 1856992 1904582 0 0 513889 1567181 0 0 0 0 0 0 0 0 0 0 73037 222513 1174242 906577 343605 267665 0 0 0 0 0 0 0 0 4570526 4403139 7358049 8365080 1567691 1678493 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3609348 4094907 5177039 5773400 X 2181010 2591680 0 0 0 0 2181010 2591680 7358049 8365080 410670 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1174242 906577 267665 267665 DUE FROM RELATED PARTIES 4403139 4403139 0 457(F) PLAN LIABILITY 4094907 4094907 15931640 15520970 410670 410670 21078591 5146951 5146951 15931640 15931640 20667921 5146951 5146951 15520970 15520970 Schedule D, Fin 48 statement The School follows guidance that clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This guidance provides that the tax effects from an uncertain tax position can be recognized in the financial statements only if the position is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. Management determined that there are no uncertain tax positions within its financial statements. The School is exempt from federal income taxation by virtue of being an organization described in Section 501(c)(3) of the Internal Revenue Code. Nevertheless, the School may be subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the Code. The tax years ending June 30, 2010, 2011, and 2012 are still open to audit for both federal and state purposes. true true true true true true true false false false false false false false false true false true Form 990, Schedule E, Line 3 The Harlem Children's Zone Promise Academy Charter School does not discriminate on the basis of prior academic achievement, athletic ability, disability, race, creed, national origin, gender, religion, or any other grounds that would be unlawful. The school's admissions procedures are consistent with the provisions of New York education law 2854(2). Form 990, Schedule E, Line 6a Under the School's charter school agreement and the charter schools act, the school is entitled to receive funding from state and federal sources that are available to public schools. These funds include state pupil enrollment funds, federal food subsidies and Titles I and II funding. X X X false true false false false false false true false Geoffrey Canada 0 168750 0 136425 0 0 0 10125 0 21155 0 336455 0 136425 Marquitta Speller 116464 40000 0 66388 6208 229060 0 dennis McKesey 118150 167123 0 17118 21165 323556 167123 Tonya White 111903 25000 0 44289 12128 193320 0 Shakira Petit 113137 15000 0 29288 6673 164098 0 Achil Petit 101605 40000 0 66096 7011 214712 0 Schedule J, Part 1, Line 4 Harlem Children's Zone has a Section 457(f) plan that all members of senior management participate in. Promise Academy employees are permitted to participate in the plan as well. This Growth Fund Plan is a tax-deferred employee savings plan for directors, 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 accumulates income on the investments in the No Margin Senior Growth Fund (which is managed by Duquesne Management); after five years, the employee starts to receive payouts. For calendar year 2011, employees received a payout and those amounts have been recorded in Schedule J, column (b)(ii) and in column (f). Schedule J, Part 1, Line 7 As noted in the narrative to Form 990, Part VI, Line 15, all bonuses or merit pay increases issued to Promise Academy employees are determined by the founder of the Harlem Children's Zone, Geoffrey Canada. All bonuses are performance based and the recipients do not have any input into the amount of the bonus they receive. Compensation decisions are documented in the organization's Board Minutes. X 1 877339 cost false true true Schedule M, Line 32(a) The Academy does not traditionally receive non-cash contributions (other than foodstuff items contributed by the Harlem Children's Zone). To the extent that the Academy receives noncash contributions of securities, its investment broker is tasked with disposing those investments. Policies FORM 990, PART VI Line 2 - Family and/or Business Relationships Top Five Highly Compensated Employees, Shakira Petit and Achil Petit have a family relationship. Line 11 - Process used to review form 990: The Form 990 was prepared by a nationally renowned accounting firm in conjunction with the organization's financial department. A copy of the draft Form 990 was circulated to the Finance committee for discussion and comment. Each Finance committee Member was provided ample opportunity to comment on the information contained in the 990 prior to its filing with the Internal Revenue Service. The Finance committee will summarize its finding on the Form 990 to the full board of directors. Line 12 - Enforcement of conflict of interest policy: The Promise Academy operates under the conflict of interest policy of its parent organization, the Harlem Children's Zone. All employees are expected to use honesty, good judgement and high ethical standards in all professional dealings. All employees must avoid any actions that could create a conflict of interest or the appearance of such a conflict or reflect unfavorably on them or on harlem children's zone. An employee must disclose if she/he or an immediate family member has any potential conflict of interest such as a relationship to a third party vendor who seeks or has a business relationship to harlem children's zone. An employee's violation of this policy, especially a failure to represent accurately his or her connection or action on behalf of harlem children's zone and a third party will constitute grounds for disciplinary action, up to and including termination of employment. Line 13 & 14 - whistleblower and document retention policy: The Promise Academy operates under the whistleblower and document retention policy of its parent organization, The Harlem Children Zone. Line 15 - Process for determining compensation The organization's top management official is Geoffrey Canada. The procedures for determining Mr. Canada's compensation package are documented in the Harlem Children Zone Form 990 as that organization pays him his compensation. Mr. Canada makes all compensation decisions for the employees at the Promise Academy, including the superintendents and principals. To the extent that any merit pay or bonuses are warranted, the Principals will make recommendations for Teachers and Administrators. Mr. Canada and the Superintendents make the decisions regarding the Principals' bonuses. All bonuses are strictly tied to employee performance, usually determined by student academic success and well-being. The organization makes a conscious effort to compensate its executives commensurate with the market. Disclosure FORM 990, PART VI Line 19 - Availability of docUMENTS to the public: The taxpayer makes its Form 990 available to the public by retaining a copy at its place of business. The Form 990 is likewise published on the internet at www.guidestar.org. The organization's financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion. Form 990, Part VII - Hours Worked: President & CEO, Geoffrey Canada, worked approximately 40 hours per week for a related organization, the Harlem Children's Zone. THE HARLEM CHILDREN'S ZONE 35 EAST 125TH STREET NEW YORK NY 10035 237112974 Social Svcs NY 501(C)(3) 7 NA false HARLEM CHILDRENS ZONE PROMISE ACADEMY II 35 EAST 125TH STREET NEW YORK NY 10035 342049530 education NY 501(C)(3) 2 NA false false false true false false false false false false false false true true true false false true true Form 990, Schedule R, Part V, Line 2 Pursuant to the terms of a commitment letter between Harlem Children's Zone (HCZ) and the Promise Academy, HCZ, as the School's Institutional Partner, committed to provide the Academy, during the initial five-year term of its charter, certain services at no cost. These services include financial management, social, library, technology, fundraising, public relations, and teaching assistance services. In addition, HCZ committed to provide the School with the use of space in its premises located at 35 East 125th Street, New York, NY. The amount reported for in-kind contributions for the year ending June 30, 2012 totals $6,024,290. Included within the $6,024,290 of gifts-in-kind is donated food of $877,339. The donated food is reported on Part VIII, Line 1(g) and on Schedule M. HCZ maintains a 457(f) plan for certain eligible employees of the School. Employees become eligible to participate in this plan based solely at the discretion of the School's Board of Trustees. The amounts contributed vest five years after the date of the initial contribution and will then be paid to eligible employees when vested. HCZ provides the School with an annual subsidy to cover this cost by contributing to a HCZ investment account. During fiscal 2011, HCZ provided a subsidy of $645,198 for the fiscal 2011 contribution to the 457(f) plan.