Sioux City Conservatory of Music

Analysis

Sioux City Conservatory of Music is a registered charity in United States, based in Sioux City, IA. It received its IRS tax-exemption ruling in May 2012, 14 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 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 December 2022, Sioux City Conservatory of Music reported income of $94k and spending of $261k, spending 276% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $269k to $94k (-65%), an average of -29% a year. The sharpest change came in the year to December 2020, when income dropped by 69%. Over the whole period it spent 140% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Sioux City Conservatory of Music sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 34th percentile within IA. Charities of a similar size with the same main cause include Alameda County Science and Engineering Fair Association ($94k), Yellowstone Beer Fest ($94k) and Unsung Heroes Living History Project ($94k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 33% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $43k (16% of expenses). Other salaries and wages came to $6,167. At year end it held assets of $335k against liabilities of $360k, net assets of -$26k. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.