Hovland Conservatory Of Music
- Assets
- $44.1k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 31
- Location
- Stillwater, MN
- Founding
- 04/1996
- Data as of
- 06/2023
- EIN
- 41-1812818
Organization Overview
Hovland Conservatory Of Music is located in Stillwater, MN. The organization was established in 1996. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2023, Hovland Conservatory Of Music employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hovland 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 06/2023, Hovland Conservatory Of Music generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $1.1m 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
HOVLAND CONSERVATORY BELIEVES EVERYONE CAN AND SHOULD BE MUSICALLY X X TRAINED. TO WORK TOWARD THIS REALITY, WE HAVE DEVELOPED A STANDARDIZED 861,007. 940,245. HOVLAND CONSERVATORY OF MUSIC **-***2818 PROGRAM THAT FOR THE FIRST TIME, MAKES THE HIGHEST QUALITY MUSIC INSTRUCTION AFFORDABLE, CONVENIENT, AND UNDAUNTING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSIC INSTRUCTION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Hovland Treasurer | Officer | 40 | $59,997 |
Andrew Hovland Vice President | Officer | 40 | $59,997 |
Mary Hovland President | Officer | 10 | $15,623 |
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 | $163 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $163 |
| Total Program Service Revenue | $1,059,113 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,059,276 |
| 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. | $135,617 |
| Compensation of current officers, directors, key employees. | $122,055 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $567,682 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $54,774 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,019 |
| Fees for services: Accounting | $3,625 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,861 |
| Office expenses | $1,692 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $138,029 |
| Travel | $181 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,051 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,820 |
| Insurance | $6,097 |
| All other expenses | $49,635 |
| Total functional expenses | $1,099,587 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,028 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,571 |
| 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 | $19,484 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $44,083 |
| 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 | $282,967 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $233,229 |
| Total liabilities | $516,196 |
| Net assets without donor restrictions | $0 |
| 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 | -$472,113 |
| Total liabilities and net assets/fund balances | $44,083 |