NEW ENGLAND CONSERVATORY OF MUSIC
NEW ENGLAND CONSERVATORY OF MUSIC
NEW ENGLAND CONSERVATORY OF MUSIC
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$80,188,605
Program Services
69%
Contributions
23%
Other
4%
Government Grants
2%
Fundraising Events
1%
Investments
1%
Membership Dues
0%
Expenses in 2024
$79,475,197
Salaries & Benefits
45%
Grants
25%
Depreciation
8%
Offices, Occupancy & IT
8%
Fees to Service Providers
7%
Other
6%
Interest
1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$33,175,787
$18,298,108
-45%
Government Grants
$292,083
$1,210,257
+314%
Fundraising Events
$1,147,547
$1,193,890
+4%
Program Services
$53,090,690
$55,534,691
+5%
Membership Dues
$0
$0
-
Investments
$714,345
$1,123,582
+57%
Other
$4,062,670
$2,828,077
-30%
Total Revenues
$92,483,122
$80,188,605
-13%
Expenses
2023
2024
Change
Grants
$18,382,251
$19,926,061
+8%
Benefits to Members
$0
$0
-
Salaries & Benefits
$32,736,696
$35,530,829
+9%
Fees to Service Providers
$6,719,075
$5,432,435
-19%
Advertising & Promotion
$121,746
$95,166
-22%
Offices, Occupancy & IT
$6,174,650
$6,044,195
-2%
Interest
$1,057,878
$1,016,760
-4%
Depreciation
$6,104,591
$6,423,840
+5%
Other
$4,621,413
$5,005,911
+8%
Total Expenses
$75,918,300
$79,475,197
+5%
Net income
2023
2024
Change
Net income
+$16,564,822
+$713,408
-96%
Functional Expenses
Summary
2023
2024
Change
Program
$61,588,481
$64,668,169
+5%
Admin
$11,493,952
$11,929,575
+4%
Fundraising
$2,835,867
$2,877,453
+1%
Total Expenses
$75,918,300
$79,475,197
+5%
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