The Brooklyn Queens Conservatory of Music

Analysis

The Brooklyn Queens Conservatory of Music is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in December 1948, 78 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Brooklyn Queens Conservatory of Music reported income of $7.3m and spending of $7.0m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.4m to $7.3m (+65%), an average of +13% a year. The sharpest change came in the year to June 2023, when income rose by 24%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Brooklyn Queens Conservatory of Music sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Sr1 ($7.3m), Electrochemical Society Inc ($7.3m) and Unlimited Opportunities Inc ($7.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 40% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $161k (2.3% of expenses). Other salaries and wages came to $4.4m. At year end it held assets of $5.6m against liabilities of $3.1m, net assets of $2.6m. It reported 210 employees.