San Francisco Conservatory Of Music Inc
- Assets
- $341.8m
- Revenue
- $47.9m
- Investments
- $0.0
- Employees
- 690
- Location
- San Francisco, CA
- Founding
- 04/1935
- Data as of
- 06/2021
- EIN
- 94-1156610
Organization Overview
San Francisco Conservatory Of Music Inc is located in San Francisco, CA. The organization was established in 1935. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, San Francisco Conservatory Of Music Inc employed 690 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. San Francisco Conservatory Of Music 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 06/2021, San Francisco Conservatory Of Music Inc generated $47.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $43.6m during the year ending 06/2021. While expenses have increased by 6.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CONSERVATORY OFFERS UNDERGRADUATE, GRADUATE AND POSTGRADUATE MUSICAL EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGIATE INSTRUCTION - SFCM IS AN ACCREDITED COLLEGE GRANTING BACHELOR'S AND MASTER'S DEGREES IN MUSIC PERFORMANCE. EXPENSES INCLUDE SALARIES, SCHOLARSHIPS, RECRUITMENT, AND ACADEMIC SUPPORT (LIBRARY, STUDENT SERVICES, ETC.). 457 STUDENTS WERE ENROLLED: 3 ADVANCED CERTIFICATES, 5 ARTIST DIPLOMAS, 231 BACHELORS MUSIC, 4 CERTIFICATES, 177 MASTERS MUSIC, 35 PROFESSIONAL STUDIES CERTIFICATE AND 2 PROFESSIONAL STUDIES DIPLOMAS. 457 STUDENTS RECEIVED SFCM SCHOLARSHIPS.
PRE-COLLEGIATE AND ADULT EXTENSION - MUSIC INSTRUCTION FOR 4-18 YEAR OLDS AND CONTINUING EDUCATION FOR ADULTS. INSTRUCTION INCLUDES EARLY CHILDHOOD MUSIC CLASSES, PRIVATE MUSIC INSTRUCTION, AND CLASSES. EXPENSES INCLUDE SALARIES, SCHOLARSHIPS, ADVERTISING, AND SUPPORT. 256 STUDENTS WERE ENROLLED AND 65 STUDENTS RECEIVED SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Foo Board Chair | OfficerTrustee | 10 | $0 |
Deepa Pakianathan Vice Chair | OfficerTrustee | 1 | $0 |
Camilla Smith Vice Chair | OfficerTrustee | 1 | $0 |
Karen Kubin Secretary | OfficerTrustee | 1 | $0 |
Barbara Walkowski Treasurer | OfficerTrustee | 1 | $0 |
Lock Bingham Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pankow Construction Services | 6/29/22 | $14,059,054 |
Corporate Security Services Security Services | 6/29/22 | $1,035,055 |
Terra Nova Industries Construction Services | 6/29/22 | $806,304 |
Edgewood Builders Inc Construction Services | 6/29/22 | $1,237,843 |
Mark Cavagnero Associates Architectural Services | 6/29/22 | $608,775 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,020,000 |
| Investment income | $1,892,445 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $789,771 |
| Net Gain/Loss on Asset Sales | $864,807 |
| Net Income from Fundraising Events | -$84,460 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,351 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $47,873,165 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $12,096,395 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,253,771 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,940,164 |
| Pension plan accruals and contributions | $375,508 |
| Other employee benefits | $1,275,962 |
| Payroll taxes | $1,065,086 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $120,609 |
| Fees for services: Accounting | $132,548 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $66,525 |
| Fees for services: Investment Management | $177,491 |
| Fees for services: Other | $2,555,613 |
| Advertising and promotion | $90,712 |
| Office expenses | $1,017,122 |
| Information technology | $583,914 |
| Royalties | $0 |
| Occupancy | $615,392 |
| Travel | $121,183 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,864 |
| Interest | $2,738,888 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,653,484 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $43,646,348 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,384,604 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $25,458,759 |
| Accounts receivable, net | $1,697,931 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $589,044 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $505,298 |
| Investments—publicly traded securities | $66,048,239 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,224,671 |
| Total assets | $341,811,653 |
| Accounts payable and accrued expenses | $6,073,621 |
| Grants payable | $0 |
| Deferred revenue | $2,865,766 |
| Tax-exempt bond liabilities | $93,995,391 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,300,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,186,867 |
| Total liabilities | $110,421,645 |
| 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 |
| Total liabilities and net assets/fund balances | $231,390,008 |