Conservatory Lab Foundation Inc
- Assets
- $25.0m
- Revenue
- $2.0m
- Investments
- $906.5k
- Employees
- 3
- Location
- Boston, MA
- Founding
- 05/1999
- Data as of
- 06/2023
- EIN
- 04-3443578
Organization Overview
Conservatory Lab Foundation Inc is located in Boston, MA. The organization was established in 1999. According to its NTEE Classification (B05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Education and related organizations. As of 06/2023, Conservatory Lab Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Conservatory Lab Foundation Inc 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 06/2023, Conservatory Lab Foundation Inc generated $2.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (16.6%) each year. All expenses for the organization totaled $1.9m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S PURPOSE IS TO SUPPORT THE DISSEMINATION OF LEARNING THROUGH MUSIC AS AN EDUCATIONAL MODEL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION RAISED FUNDS TO BENEFIT THE PROGRAMS FOR THE DISSEMINATION OF LEARNING THRU MUSIC AS AN EDUCATIONAL MODEL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katharine M Pell Clerk & Class B Director | OfficerTrustee | 2 | $0 |
John Paolella Treasurer & Class A Director | OfficerTrustee | 0.25 | $0 |
Debra L Smith Assistant Clerk & Class A Director | OfficerTrustee | 0.25 | $0 |
Bradley F Richardson Class B Director | Trustee | 1 | $0 |
Gary Gut Class B Director | Trustee | 1 | $0 |
Melanie Sheffield President & Class A Director | OfficerTrustee | 3 | $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 | $659,014 |
| Noncash contributions included in lines 1a–1f | $14,353 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $659,014 |
| Total Program Service Revenue | $160,828 |
| Investment income | $134,714 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $345 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,021,236 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $363,958 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $244,218 |
| Pension plan accruals and contributions | $44,484 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,571 |
| Advertising and promotion | $0 |
| Office expenses | $1,082 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,151,616 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,714 |
| Insurance | $0 |
| All other expenses | $566 |
| Total functional expenses | $1,938,796 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $265,016 |
| Savings and temporary cash investments | $0 |
| 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 | $20,559,162 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,982,564 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $906,504 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $268,000 |
| Total assets | $24,981,246 |
| Accounts payable and accrued expenses | $98,279 |
| 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 | $21,270,626 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,483,494 |
| Total liabilities | $22,852,399 |
| Net assets without donor restrictions | $2,118,821 |
| Net assets with donor restrictions | $10,026 |
| 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 | $24,981,246 |
Grants Awarded
Over the last fiscal year, Conservatory Lab Foundation Inc has awarded $951,187 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CONSERVATORY LAB CHARTER SCHOOL PURPOSE: TO PROVIDE ASSISTANCE TO LEARNING THROUGH MUSIC AND VIOLIN PROGRAMS | $583,739 |
CENTER FOR ARTISTRY AND SCHOLARSHIP INC PURPOSE: TO PROVIDE ASSISTANCE TO DEVELOP A CENTER TO IMPROVE THE QUALITY OF EDUCATION LOCALLY AND NATIONALLY | $241,735 |
CLCS REALTY CORPORATION PURPOSE: TO PROVIDE ASSISTANCE TO BUILD A SCHOOL TO BE USED BY THE CONSERVATORY LAB CHARTER SCHOOL | $125,713 |