Portland Conservatory of Music

Analysis

Portland Conservatory of Music is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in April 1995, 31 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Portland Conservatory of Music reported income of $767k and spending of $611k, leaving 20% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $472k to $767k (+63%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 287%. Over the whole period it spent 57% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Portland Conservatory of Music sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within ME. Charities of a similar size with the same main cause include Logan County Landmark Preservation Inc ($767k), First Person Arts Inc ($768k) and Imperial Community Theatre Inc ($767k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $77k (13% of expenses). Other salaries and wages came to $332k. At year end it held assets of $1.8m against liabilities of $13k, net assets of $1.8m. It reported 45 employees.