Sarasota Music Conservatory Inc

Analysis

Sarasota Music Conservatory Inc is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in March 2014, 12 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 2023, Sarasota Music Conservatory Inc reported income of $264k and spending of $293k, spending 111% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $234k to $264k (+13%), an average of +4.2% a year. The sharpest change came in the year to December 2022, when income rose by 21%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Sarasota Music Conservatory Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 62nd percentile within FL. Charities of a similar size with the same main cause include Golden Gate Boys Choir ($264k), Inside Out Theatre Co Inc ($264k) and Renewal Ministries ($264k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $47k (16% of expenses). At year end it held assets of $66k against liabilities of $0, net assets of $66k.