Phoenix Conservatory of Music

Analysis

Phoenix Conservatory of Music is a registered charity in United States, based in Litchfield PK, AZ. It received its IRS tax-exemption ruling in April 1999, 27 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 June 2023, Phoenix Conservatory of Music reported income of $1.1m and spending of $1.2m, spending 109% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $558k to $1.1m (+92%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 30%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Phoenix Conservatory of Music sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 77th percentile within AZ. Charities of a similar size with the same main cause include Japanese American Museum of Oregon ($1.1m), Conococheague Institute for the Study of Cultural Heritage ($1.1m) and Cabd Inc ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 66% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $59k (5.0% of expenses). Other salaries and wages came to $706k. At year end it held assets of $658k against liabilities of $144k, net assets of $514k. It reported 72 employees.