STATEMENTS OF FINANCIAL POSITION

THE HARLEM SCHOOL OF THE ARTS, INC.

As of June 30, 2022 and June 30, 2021

THE HARLEM SCHOOL OF THE ARTS, INC. STATEMENTS OF FINANCIAL POSITION

AS OF JUNE 30, 2022 AND JUNE 30, 2021

HSA’s tuition revenue only covers 25% of what it costs to provide our students with high-quality arts programming. These fees are greatly subsidized and are set at the level that best serves the community. Twenty percent of students benefit from full tuition assistance through financial aid; all students – the other 80% – benefit from dramatically reduced tuition. This means HSA depends on the generous public support of individuals, foundations, corporations, and government entities to cover 75% of our operating budget each year, in order to provide our much-needed artistic programs to underserved youth.

54% Contributions

Public Support by Funding Sources

16% Tuition Revenue

6% Government

24% Other Revenues*

*PPP and ERC from Federal are included in other revenue.

66% Program

Functional Expense

17% M&G

17% Fundraising