Washington Conservatory of Music

Analysis

Washington Conservatory of Music is a registered charity in United States, based in Glen Echo, MD. It received its IRS tax-exemption ruling in September 1984, 42 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 May 2023, Washington Conservatory of Music reported income of $945k and spending of $967k, spending 102% of its income. Across the 5 years on record, from May 2019 to May 2023, income fell from $986k to $945k (-4.2%), an average of -1.1% a year. The sharpest change came in the year to May 2022, when income rose by 39%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Washington Conservatory of Music sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within MD. Charities of a similar size with the same main cause include Whiting Entertainment Center Inc ($945k), Ethereum Classic Cooperative LLC ($946k) and Cape Cod Museum of Art Inc ($944k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 26% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $140k (14% of expenses). Other salaries and wages came to $394k. At year end it held assets of $1.2m against liabilities of $79k, net assets of $1.1m. It reported 47 employees.