Hovland Conservatory of Music

Analysis

Hovland Conservatory of Music is a registered charity in United States, based in Stillwater, MN. It received its IRS tax-exemption ruling in April 1996, 30 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hovland Conservatory of Music reported income of $1.1m and spending of $1.1m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.1m to $1.1m (-0.3%), an average of -0.1% a year. The sharpest change came in the year to June 2022, when income rose by 25%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hovland Conservatory of Music sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within MN. Charities of a similar size with the same main cause include Bible Seminary ($1.1m), Montessori School of Corpus Christi ($1.1m) and Altiora Fund ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $136k (12% of expenses). Other salaries and wages came to $568k. At year end it held assets of $44k against liabilities of $516k, net assets of -$472k. It reported 31 employees.