Concordia Conservatory Inc

Nonprofit profile at a glance

EIN
871379215
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Bronxville, NY, USA
Phone
9143954507
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Music

Official website

Reported finances

Revenue
$1,156,909
Expenses
$1,404,468
Assets
$3,804,694
Liabilities
$564,758

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

26 people listed

Executive titles in this filing

  • KATHLEEN SUSS (PRESIDENT/EXECUTIVE DIRECT)
  • CAROLYN MORIARTY (VICE PRESIDENT)

People named in this filing

  • KATHLEEN SUSS (PRESIDENT/EXECUTIVE DIRECT)
  • MELINDA MAGNANI (SECRETARY)
  • RUBY HWANG (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The conservatory's mission is to inspire, instruct and enrich lives through music offering excellence in education and performance.

What it reported doing in 2024

1) music education: staffed with highly accomplished faculty of teaching and performing artists, offerings include private music instruction in all instruments including voice, group and chamber music, music theory, ear-training, composition and song writing, music and art therapy, musical theatre classes, an annual tuition free holiday musical theatre production, early childhood music classes, and summer camps, concert series and an honors academy (pre-college) program. Concordia conservatory's exemplary programs embrace vitality and the development of artistry at every age, phase, and level and are dedicated to helping each student realize his or her full potential. The diverse faculty of 40 and student population enrollment of 1,000 students of all ages represent over 20 countries. 2) the conservatory brings musical peformance to enrich the community's cultural life. Community programs include the hoch chamber music series, the conservatory's annual tuition free holiday community musical, more than music faculty series, the unique series for special learners and the musical adventures family series.3) the conservatory administers scholarship and music outreach in the community to various populations in the communities of which they serve. Underserved youth and early childhood programs, to individual scholarship programs for studentswith financial need.

Operating model

Revenue model
Earned-program. 75% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 95% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 94
  • Accountability: 94
  • Sustainability: 39
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.5%; rating input score 96
  • Program expense ratio: 78.6%; rating input score 79
  • Fundraising efficiency: $3.93 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -21.4%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 2.71; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -14.8% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -22.5% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -1.6% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 96.5% of revenue deployed · 78.6% of spending went to programs
  • Governance: 17 of 17 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $0 · 26 people listed
  • Consistency: 34 of 34 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 13/100.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.