Portland Conservatory Of Music
- Assets
- $1.6m
- Revenue
- $945.1k
- Investments
- $0.0
- Employees
- 46
- Location
- Portland, ME
- Founding
- 04/1995
- Data as of
- 06/2022
- EIN
- 01-0495589
Organization Overview
Portland Conservatory Of Music is located in Portland, ME. The organization was established in 1995. According to its NTEE Classification (A6E) the organization is classified as: Performing Arts Schools, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Portland Conservatory Of Music employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Portland Conservatory Of Music is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Portland Conservatory Of Music generated $945.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.7% each year . All expenses for the organization totaled $519.4k during the year ending 06/2022. While expenses have increased by 7.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENRICH GENERATIONS OF MUSICIANS BY PROVIDING QUALITY MUSIC EDUCATION AND PRIVATE MUSIC LESSONS TO AS BROAD AN AUDIENCE AS POSSIBLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CONSERVATORY EXISTS TO PROMOTE MUSIC EDUCATION AND FOSTER A MUSICAL COMMUNITY IN PORTLAND AND THE SURROUNDING AREA THROUGH LESSONS,CONCERTS, RECITALS, SYMPOSIUMS, AND CLASSES. THE CONSERVATORY HAS SEEN CONTINUED GROWTH IN ENROLLMENT AND PROGRAMS, WHICH INCLUDE ENSEMBLES,CLASSES, PRIVATE LESSONS, SUMMER CAMPS, CONCERT SERIES, AND AN INTERNATIONAL MUSIC FESTIVAL. THE CONSERVATORY PRODUCES 6 TO 8 NEWSLETTERS AND BROCHURES PER YEAR, WHICH ARE DISTRIBUTED AMONG ITS LARGER COMMUNITY, INCLUDING THE STUDENT POPULATION, ALUMNI, FRIENDS,AND FUNDERS. THE PORTLAND CONSERVATORY ACTIVELY SEEKS COLLABORATION WITH OTHER ARTS INSTITUTIONS AND SCHOOLS IN PORTLAND AND THE SURROUNDING AREA TO FURTHER ITS MISSION OF ENCOURAGING THE MUSICAL LIFE IN THE CITY OF PORTLAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jean Murachanian Executive Dir. | Officer | 40 | $66,500 |
Steve Clayman President | OfficerTrustee | 2.5 | $0 |
Sheila Mcgarr Secretary | OfficerTrustee | 2.5 | $0 |
Arthur Borduas Treasurer | OfficerTrustee | 2.5 | $0 |
Betsy Mayberry Vice President | OfficerTrustee | 2.5 | $0 |
Stephen Bither Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $607,144 |
| Noncash contributions included in lines 1a–1f | $158,286 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $607,144 |
| Total Program Service Revenue | $289,773 |
| Investment income | $6,352 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,291 |
| Net Gain/Loss on Asset Sales | $39,566 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $945,126 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $66,500 |
| Compensation of current officers, directors, key employees. | $66,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $239,527 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,897 |
| Payroll taxes | $27,757 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $157 |
| Fees for services: Accounting | $5,663 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,217 |
| Fees for services: Other | $2,200 |
| Advertising and promotion | $6,419 |
| Office expenses | $5,730 |
| Information technology | $9,910 |
| Royalties | $0 |
| Occupancy | $71,402 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $372 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,879 |
| Insurance | $8,107 |
| All other expenses | $5,072 |
| Total functional expenses | $519,374 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $60,480 |
| Savings and temporary cash investments | $26,668 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,143,394 |
| Investments—publicly traded securities | $381,020 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,611,562 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $9,957 |
| Other liabilities | $2,096 |
| Total liabilities | $12,053 |
| Net assets without donor restrictions | $1,599,509 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,611,562 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Portland Conservatory Of Music has recieved totaling $5,013.
| Awarding Organization | Amount |
|---|---|
Libra Foundation Owen W Wells Trustee Portland, ME PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $13 |
Endowment Analysis
| Beg. Balance | $278,920 |
| Earnings | -$56,186 |
| Net Contributions | $158,286 |
| Ending Balance | $381,020 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Concord Community Music School Concord, NH | $1,545,273 | $1,585,620 |
317 Main St Community Music Center Inc Yarmouth, ME | $4,625,414 | $3,657,456 |
Kneisel Hall Blue Hill, ME | $13,811,555 | $1,519,605 |
The Spartan Junior Drum And Bugle Corps Inc Nashua, NH | $341,545 | $843,857 |
Portland Conservatory Of Music Portland, ME | $1,611,562 | $945,126 |
Portland School Of Ballet Portland, ME | $186,689 | $547,468 |
Nashua Community Music School Nashua, NH | $219,055 | $475,725 |
Pierre Monteux Memorial Foundation Hancock, ME | $2,143,744 | $541,077 |
Midcoast Music Academy Rockport, ME | $339,108 | $341,245 |
River Tree Arts Kennebunk, ME | $536,279 | $341,114 |
Flying Gravity Circus Wilton, NH | $76,420 | $0 |
New Surry Repertory Theatre And Acting School Inc Blue Hill, ME | $61,781 | $0 |