Music Conservatory of Westchester

Analysis

Music Conservatory of Westchester is a registered charity in United States, based in White Plains, NY. It received its IRS tax-exemption ruling in November 1938, 88 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, Music Conservatory of Westchester reported income of $3.5m and spending of $3.2m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.3m to $3.5m (+4.5%), an average of +1.1% a year. The sharpest change came in the year to June 2022, when income rose by 69%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Music Conservatory of Westchester sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include Center for Creative Education ($3.5m), F M Kirby Center for THR Perform Ing Arts ($3.5m) and KSMQ Public Service Media Inc ($3.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 38% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $198k (6.1% of expenses). Other salaries and wages came to $1.7m. It paid $16k in professional fundraising fees. At year end it held assets of $10.2m against liabilities of $3.3m, net assets of $6.9m. It reported 116 employees.