Maryland Conservatory of Music Inc

Analysis

Maryland Conservatory of Music Inc is a registered charity in United States, based in Bel Air, MD. It received its IRS tax-exemption ruling in November 2001, 25 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 June 2023, Maryland Conservatory of Music Inc reported income of $69k and spending of $109k, spending 158% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $78k to $69k (-11%), an average of -3.0% a year. The sharpest change came in the year to June 2021, when income rose by 83%. 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, Maryland Conservatory of Music Inc sits at the 31st percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 29th percentile within MD. Charities of a similar size with the same main cause include Basa Balinese Language Preservation Corp ($69k), Williamsburg Harmony Hill Association Inc ($69k) and Shawnee Indian Mission Foundation ($69k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $74k (68% of expenses). At year end it held assets of $63k against liabilities of $0, net assets of $63k. It reported 1 employees.