Goldman Sachs Gives
Building and Stabilizing Communities
- The Promise Academy Charter School, Construction Progress
Harlem Children's Zone [3:51]
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The HCZ Promise Academy Charter School's inaugural senior class graduated June 22, 2012. 100% of the graduates have been accepted and are spending the summer preparing for college. Next year’s class of students will move to the new HCZ Promise Academy Charter School facility described below.
Building a New State-of-the-Art School in Harlem
Goldman Sachs Gives made a $20 million multi-year commitment to construct the Promise Academy Charter School, a project of the Harlem Children’s Zone’s (HCZ). The commitment represents the largest private contribution to the new charter school building.
The new 134,600-square-foot Promise Academy Charter School will be located in the St. Nicholas Houses in Harlem. The school is projected to be completed by the 2012 school year and serve 1,200 students from kindergarten through the twelfth grade.
Goldman Sachs partners chose to support HCZ through Goldman Sachs Gives because of its unique “cradle-to-college” approach. Funding for the school building was made possible, in part, by a $60 million grant from the New York City Department of Education’s Charter Facilities Matching Grant Program, a $20 million gift from Goldman Sachs Gives and other private supporters.
In addition, Goldman Sachs Gives convened the 21 communities that received grants under President Obama’s Promise Neighborhoods initiative for a two-day Leadership Academy. The Promise Neighborhoods program is the national effort to replicate the success of the Harlem Children’s Zone around the country. In conjunction with Harlem Children’s Zone and Policy Link’s Promise Neighborhood Institute, project managers, CEOs and school leaders received robust training around leadership, communications and accountability.