Pasadena Conservatory of Music

Analysis

Pasadena Conservatory of Music is a registered charity in United States, based in Pasadena, CA. It received its IRS tax-exemption ruling in July 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 church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Pasadena Conservatory of Music reported income of $5.2m and spending of $3.2m, leaving 38% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.3m to $5.2m (+56%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 150%. Over the whole period it spent 66% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Pasadena Conservatory of Music sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within CA. Charities of a similar size with the same main cause include Newark Performing Arts Corporation ($5.2m), Post Road Foundation ($5.2m) and Greater New Orleans Educational Television Foundation ($5.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $161k (5.0% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $17.9m against liabilities of $379k, net assets of $17.6m. It reported 112 employees.