Civic Intelligence

Concord Conservatory of Music

EIN 20-2724666 • 501(c)3 • Concord, MA

Profile

Foster a sense of community through music by providing accessible high quality music education and performance opportunities for people of all ages, backgrounds and skill levels

PO Box 1258Concord, MA 01742

www.concordconservatory.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

72nd percentile

0.27x

Higher debt load relative to assets than 72% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

73rd percentile

0.29x

Higher debt load relative to revenue than 73% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

25th percentile

-7.3%

Higher net margin than 25% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

63rd percentile

$90,353

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 7.8% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

65th percentile

9.6%

Faster asset growth than 65% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

36th percentile

-0.2%

Faster revenue growth than 36% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,120,709

Up $170,722 (+18%) from 2022

Liabilities

Up

$367,996

Up $26,155 (+7.7%) from 2022

Net Assets

Up

$752,713

Up $144,567 (+24%) from 2022

Revenue

Up

$1,165,558

Up $260,441 (+29%) from 2022

Expenses

Up

$1,097,177

Up $136,512 (+14%) from 2022

Net Income

Up

$68,381

Up $123,929 (+223%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0Assets 2010: $88,200Liabilities 2010: $45,600Net Assets 2010: $42,6002010Assets 2011: $109,500Liabilities 2011: $63,200Net Assets 2011: $46,3002011Assets 2012: $109,124Liabilities 2012: $99,380Net Assets 2012: $9,7442012Assets 2013: $221,700Liabilities 2013: $186,908Net Assets 2013: $34,7922013Assets 2014: $198,656Liabilities 2014: $163,848Net Assets 2014: $34,8082014Assets 2015: $235,211Liabilities 2015: $183,477Net Assets 2015: $51,7342015Assets 2016: $236,299Liabilities 2016: $188,143Net Assets 2016: $48,1562016Assets 2017: $626,307Liabilities 2017: $199,902Net Assets 2017: $426,4052017Assets 2018: $648,355Liabilities 2018: $242,772Net Assets 2018: $405,5832018Assets 2019: $661,329Liabilities 2019: $256,157Net Assets 2019: $405,1722019Assets 2020: $852,853Liabilities 2020: $320,318Net Assets 2020: $532,5352020Assets 2021: $1,158,065Liabilities 2021: $249,026Net Assets 2021: $909,0392021Assets 2022: $949,987Liabilities 2022: $341,841Net Assets 2022: $608,1462022Assets 2023: $1,120,709Liabilities 2023: $367,996Net Assets 2023: $752,7132023

Highlighted filing

2023

Assets$1,120,709
Liabilities$367,996
Net Assets$752,713

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2010: $452,900Expenses 2010: $452,500Net Income 2010: $4002010Expenses 2011: $530,9002011Expenses 2012: $636,3962012Expenses 2013: $663,2332013Revenue 2014: $782,179Expenses 2014: $782,163Net Income 2014: $162014Revenue 2015: $813,208Expenses 2015: $796,282Net Income 2015: $16,9262015Revenue 2016: $827,661Expenses 2016: $831,239Net Income 2016: -$3,5782016Revenue 2017: $1,221,693Expenses 2017: $843,444Net Income 2017: $378,2492017Revenue 2018: $810,097Expenses 2018: $840,294Net Income 2018: -$30,1972018Revenue 2019: $899,426Expenses 2019: $894,380Net Income 2019: $5,0462019Revenue 2020: $1,015,303Expenses 2020: $985,026Net Income 2020: $30,2772020Revenue 2021: $1,110,682Expenses 2021: $823,178Net Income 2021: $287,5042021Revenue 2022: $905,117Expenses 2022: $960,665Net Income 2022: -$55,5482022Revenue 2023: $1,165,558Expenses 2023: $1,097,177Net Income 2023: $68,3812023

Highlighted filing

2023

Revenue$1,165,558
Expenses$1,097,177
Net Income$68,381

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$1.12$0.37$0.75$1.17$1.10$0.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.95$0.34$0.61$0.91$0.96$0.06
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.16$0.25$0.91$1.11$0.82$0.29
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.85$0.32$0.53$1.02$0.99$0.03
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.66$0.26$0.41$0.90$0.89$0.01
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$0.24$0.41$0.81$0.84$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.63$0.20$0.43$1.22$0.84$0.38
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.24$0.19$0.05$0.83$0.83$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.24$0.18$0.05$0.81$0.80$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.20$0.16$0.03$0.78$0.78$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.22$0.19$0.03$0.66
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.11$0.10$0.01$0.64
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.11$0.06$0.05$0.53
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.09$0.05$0.04$0.45$0.45$0.00
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Sep 1, 2021 to Aug 31, 2022
Signed
May 9, 2023
Return Version
2021v4.0
Gross Receipts
$905,117
Mission and Program Overview

Mission

Foster a sense of community through music by providing accessible high quality music education and performance opportunities for people of all ages, backgrounds and skill levels

Foster a sense of community through music by providing accessible, high- quality music education and performance opportunities for people of all ages, backgrounds, and skill levels.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$717,002$639,188▼ $77,814
Cash and Non-Interest-Bearing Accounts$295,987$188,117▼ $107,870
Land, Buildings, and Equipment, Net$98,631$85,618▼ $13,013
Prepaid Expenses and Deferred Charges$37,676$30,545▼ $7,131
Accounts Receivable$6,069$3,819▼ $2,250
Total Assets$1,158,065$949,987▼ $208,078
Other Assets Total$2,700$2,700→ $0
Liabilities
Deferred Revenue$191,552$310,382▲ $118,830
Accounts Payable and Accrued Expenses$53,035$27,906▼ $25,129
Other Liabilities$4,439$3,553▼ $886
Total Liabilities$249,026$341,841▲ $92,815
Net Assets / Fund Balance
Net Assets With Donor Restrictions$403,411$396,338▼ $7,073
Net Assets Without Donor Restrictions$505,628$211,808▼ $293,820
Total Net Assets Fund Balance$909,039$608,146▼ $300,893
Total Liabilities and Net Assets / Fund Balance$1,158,065$949,987▼ $208,078

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$82,773$112,396$195,169
Other Land Buildings$2,845-$2,845
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Katherine F YoderExecutive DiFT$80,000$3,195$83,195
Faith ProctorFinance ManaPT$52,494$2,071$54,565

Board Members and Trustees

NameTitle
Amanda HickmanPresident
Alison RuchDirector
Jodi GernonDirector
Macdara NashDirector
Peter BlumDirector
Richard ClearyDirector
Sophia GarmeyDirector
William LawlerDirector
TENLEY O'SHAUGHNESSYClerk
Evan RickerTreasurer
Laurence ConstableVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$112,509
Program Service Revenue
$726,846
Investment Income
$65,762
Other Revenue
$0
All Other Contributions
$112,509
Change in Net Assets
$-55,548

Audited Revenue Reconciliation

Revenue per Audited Statements
$905,117
Revenue Not Reported on Form 990
$-205,906
Total Revenue per Audited Statements
$699,211
Total Revenue per Form 990
$905,117
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$712,688
Other Expenses$236,605
Total Fundraising Expense$79,386
Grants and Similar Amounts Paid$11,372
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$482,540$11,291$12,391$506,222
Current Officers, Directors, Trustees, and Key Employees$41,952$75,230$25,171$142,353
Occupancy$59,946$1,374$434$61,754
Payroll Taxes$43,058$6,754$2,934$52,746
Advertising$21,070$1,640$23,812$46,522
Fees for Services Other$16,676$7,994$7,272$31,942
Office Expenses$4,531$16,036$862$21,429
Depreciation Depletion$14,467$2,215$966$17,648
Information Technology$8,134$3,120$4,708$15,962
Insurance$3,109$9,669$185$12,963
Grants to Domestic Individuals$11,372--$11,372
Pension Plan Contributions$9,273$301$366$9,940
Fees for Services Accounting-$8,500-$8,500
Other Expenses$1,715$1,097$204$3,016
All Other Expenses$2,357$515-$2,872
Other Employee Benefits$1,427--$1,427
Interest$125$477$36$638
Total Functional Expenses$728,776$152,503$79,386$960,665

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,000,104
Total Expenses per Form 990$960,665
Expenses per Audited Statements$949,293
Expenses Not Reported on Form 990$50,811
Expenses Not Reported on Financial Statements$11,372
Other Expense Adjustments$11,372
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Financing Lease$3,553
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI

Members of the board of directors are elected by the sitting board

Form 990, Page 6, Part VI, Line 11B

The form 900 was prepared by the organization's outside cpa in consulation with the finance manager and reviewed by the executive director and treasurer prior to issuance.

Form 990, Page 6, Part VI, Line 15A

The board met and reviewed the executive director's compensation using historical data for similarly situated music schools in may of 2022, prior to approving the budget for fiscal year ended august 31,2023.

Form 990, Page 6, Part VI, Line 19

All pertinent documents are available upon request at the office.

Filing and Contact Details

Filer

Filer Name
Concord Conservatory of Music Inc
EIN
20-2724666
Phone
9783690010
Address
PO BOX 1258, CONCORD, MA 01742

Signing Officer

Name
Katherine F Yoder
Title
Executive Director
Phone
9783690010
Signed
2023-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katherine F Yoder
Formed
2005
Legal Domicile
Ma
Voting Board Members
10
Independent Board Members
9
Employees
39
Volunteers
12

Preparer

Firm
Scheid Deignan Brown Pc
Address
101 COMMONWEALTH AVE, CONCORD, MA 01742-2903
Preparer
David Deignan CPA
Phone
9783189600
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 2

Concord conservatory of music's mission is to: foster a sense of community by providing accessible high quality music education and performance opportunities for people of all ages, backgrounds and skill levels. Core values include: -accessibility - making music available to everyone -broadening people's horizons through music -creating a community of music lovers concord conservatory of music explored additional ways to bring music and music education to the community during the pandemic. New initiatives included the early childhood program, the concord open bluegrass jam, the monday morning message and the listening project. Early childhood programs install a lifelong love of music in our youngest community members. Musical subjects are explored at age-appropriate levels through movement and improvisation. Physical, language, social, and cognitive development are stimulated through musical play. The concord open bluegrass jam augmented the conservatory's roots program starting in the fall of 2021. Led by a ccm faculty member, the weekly community driven jam sessions provide an open space for local musicians and music lovers to socially engage and create music together. Initially envisioned as a way to stay connected, during the pandemic, the monday morning message (mmm) is sent on mondays to ccm's family including student, faculty, staff, board members, donors, and the greater community. It includes music content designed to engage and educate. The listening project is a monthly playlist, curated by a ccm faculty member, which includes background information and questions on each musical selection designed to encourage active listening. The monthly listening project is sent to the ccm's family and incorporated into private instruction.

Form 990, Page 2, Part III, Line 3

In january 2020, the novel strain of the coronavirus, covid-19, was recognized as a pandemic by the world health orgranization, and followed on march 10, 2020 by a declaration of a state of emergency by the governor of massachusetts. Like many organizations, the operations of the conservatory were impacted by the pandemic. After initially moving to an online model in march of 2020, the conservatory re-opened, using a hybrid model in the fall of 2020. The fiscal year ended august 31, 2022 saw the return to live instruction, followed by the resumption of onsite recitals, concerts and lectures. The conservatory has weathered the pandemic thanks both to the resiliency of its community and the availability of federal pandemic aid. The conservatory continues to rebuild programs while providing increased offerings and community engagement opportunities. Although some uncertainty surrounding the course of the pandemic continues, management believes it will be able to continue to adapt operations should the situation warrant it.

Form 990, Part XI, Line 9

Fin. Aid reported on part ix line 2(b) -11,372 fin. Aid netted against prog rev on fs 11,372

Financial Statement Notes

Schedule D, Page 3, Part X

The organization follows the provisions of fasb asc 740-10, accounting for uncertainty in income taxes, and the organization believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions or any related penalties and interest to accrue that are material to the financial statements for the years ended august 31, 2022 and 2021. The organization's tax filings are still open to examination by taxing authorities for the fiscal years 2019 and later, though there are no known years under examination.

Schedule D, Page 4, Part XI, Line 2D

Fin. Aid reported on part ix line 2(b) -11,372

Schedule D, Page 4, Part XII, Line 4B

Fin. Aid netted against prog rev on fs 11,372

Raw XML AppendixShowing 400 of 500 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0THE CONSERVATORY RETURNED TO LIVE INSTRUCTION FOR ITS 2022 SCHOOL YEAR, CONTINUING TO PROVIDE HIGH QUALITY MUSIC INSTRUCTION TO THE COMMUNITY. PRIVATE AND GROUP CLASSES WERE PROVIDED TO 410 ENROLLED STUDENTS AND 11,372 IN FINANCIAL ASSISTANCE WAS AWARDED. THE SCHOOL PROVIDED ADDITIONAL MUSIC EDUCTATION OPPORTUNITIES TO ITS STUDENTS INCLUDING MUSIC THEORY, MUSIC WORKSHOPS, AND MASTER CLASSES. PERFORMANCE OPPORTUNITIES WERE PROVIDED FOR THE COMMUNITY AND STUDENTS INCLUDING RECITALS, MUSIC LECTURES, COMMUNITY JAMS, AND LOW COST CONCERTS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5CLERK
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
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IRS990/MissionDesc0FOSTER A SENSE OF COMMUNITY THROUGH MUSIC BY PROVIDING ACCESSIBLE HIGH QUALITY MUSIC EDUCATION AND PERFORMANCE OPPORTUNITIES FOR PEOPLE OF ALL AGES, BACKGROUNDS AND SKILL LEVELS
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION FOLLOWS THE PROVISIONS OF FASB ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, AND THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS OR ANY RELATED PENALTIES AND INTEREST TO ACCRUE THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS FOR THE YEARS ENDED AUGUST 31, 2022 AND 2021. THE ORGANIZATION'S TAX FILINGS ARE STILL OPEN TO EXAMINATION BY TAXING AUTHORITIES FOR THE FISCAL YEARS 2019 AND LATER, THOUGH THERE ARE NO KNOWN YEARS UNDER EXAMINATION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FIN. AID REPORTED ON PART IX LINE 2(B) -11,372
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FIN. AID NETTED AGAINST PROG REV ON FS 11,372
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL'S NONDISCRIMINATORY POLICY IS EXPLICITLY STATED IN ITS BYLAWS AND ON THE HOMEPAGE OF ITS WEBSITE AND INCLUDED IN ITS BROCHURES AND COURSE CATALOGS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0FINANCIAL AID

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