Harid Conservatory of Music Inc

Analysis

Harid Conservatory of Music Inc is a registered charity in United States, based in Boca Raton, FL. It received its IRS tax-exemption ruling in March 1988, 38 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, Harid Conservatory of Music Inc reported income of $6.6m and spending of $3.5m, leaving 47% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.6m to $6.6m (+156%), an average of +26% a year. The sharpest change came in the year to June 2023, when income rose by 152%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Harid Conservatory of Music Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within FL. Charities of a similar size with the same main cause include Holocaust Museum Houston ($6.6m), Kaleideum ($6.6m) and African American Museum in ($6.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 70% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $223k (6.4% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $34.3m against liabilities of $319k, net assets of $34.0m. It reported 44 employees.