New England Conservatory of Music

Analysis

New England Conservatory of Music is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in November 1941, 85 years ago. Its declared purposes cover education, which this site groups under education and training. 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, New England Conservatory of Music reported income of $92.5m and spending of $75.9m, spending 82% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $63.6m to $92.5m (+45%), an average of +9.8% a year. The sharpest change came in the year to June 2022, when income rose by 117%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New England Conservatory of Music sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include Acadia University ($92.1m), Elizabethtown College ($93.1m) and Greenwich Country Day School Inc ($91.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $1.6m (2.1% of expenses). Other salaries and wages came to $25.0m. It paid $8,709 in professional fundraising fees. At year end it held assets of $276.5m against liabilities of $43.6m, net assets of $232.9m. It reported 1,322 employees.