Concord Conservatory of Music

Analysis

Concord Conservatory of Music is a registered charity in United States, based in Concord, MA. It received its IRS tax-exemption ruling in October 2006, 20 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 August 2023, Concord Conservatory of Music reported income of $1.2m and spending of $1.1m, spending 94% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $899k to $1.2m (+30%), an average of +6.7% a year. The sharpest change came in the year to August 2023, when income rose by 29%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Concord Conservatory of Music sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within MA. Charities of a similar size with the same main cause include Colonel Museum Inc ($1.2m), Mexic-Arte ($1.2m) and Garden of Faith Preschool & School of Arts Inc ($1.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 19% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $150k (14% of expenses). Other salaries and wages came to $598k. It paid $8,000 in professional fundraising fees. At year end it held assets of $1.1m against liabilities of $368k, net assets of $753k. It reported 43 employees.