New England Conservatory of Music
New England Conservatory of Music reported $90.2 million in revenue and $86.3 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $80.82 went to program services, $15.61 to management and general costs and $3.57 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 68.7% of the total. Government grants made up 5.4%. The highest compensation it reported for one person was $573,510 (PRESIDENT). 78 people received more than $100,000 in reportable compensation. Revenue rose 31% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $86MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $90M- Contributions & grants (non-government)$16.71 $15M
- Government grants$5.42 $4.9M
- Program service revenue$68.60 $62M
- Investment income$9.27 $8.4M
Other revenue was negative: −$87,981. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 80.8% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 15.6% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 3.6% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.15 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 22.2% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 5.4% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 68.7% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $573,510 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.66% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 78 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 37.9 | 13.3 |
| Independent voting board members Part VI 1a–1b | 30 of 30 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseHigher education: college - music school with programs leading to bachelor's degrees, master's degrees, doctoral degrees, and diplomas. Nec's enrollment is comprised of approximately half undergraduates and half graduate students. (952 students)
Student services program, general/other:residence hall/dining - all freshmen and sophomores are housed and dine in the nec residence hall. The cafeteria is open to the entire community. (230 students)health services - on-site student health center providing routine and urgent care and referrals, staffed by a physician and nurse practitioners. Supported by student medical fees and insurance reimbursements.counseling services - on-site center providing confidential counseling for students, staffed by a psychiatrist and professional counselors
Preparatory and adult education - music instruction for children ages 0-18 and adults offered year-round. Not leading to a specific degree, offerings include private lessons, ensembles, and classes. 6% financial aid is provided based on need. (1,687 students)
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT Officer, 40.00 hrs/week | $469,636 | $0 | $103,874 | $573,510 |
| EXECUTIVE VICE PRESIDENT Key employee, 40.00 hrs/week | $472,201 | $0 | $25,304 | $497,505 |
| VP & CHIEF INFORMATION OFFICER Key employee, 40.00 hrs/week | $241,128 | $0 | $48,279 | $289,407 |
| COLLEGE FACULTY Highest compensated employee, 40.00 hrs/week | $238,370 | $0 | $43,403 | $281,773 |
| COLLEGE FACULTY Highest compensated employee, 40.00 hrs/week | $228,839 | $0 | $35,509 | $264,348 |
| VP & CHIEF OF STAFF Key employee, 40.00 hrs/week | $204,665 | $0 | $50,942 | $255,607 |
| COLLEGE FACULTY Highest compensated employee, 40.00 hrs/week | $226,687 | $0 | $22,322 | $249,009 |
| COLLEGE FACULTY Highest compensated employee, 40.00 hrs/week | $200,738 | $0 | $43,667 | $244,405 |
78 people received more than $100,000 in reportable compensation from New England Conservatory of Music (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.8M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b30 · 30 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aNo
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 51,393
- Volunteers Part I, line 6136
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| CLIFTONLARSONALLEN LLP Accounting & advisory services | $318,150 |
| QUARTERDECK LLC Website design and maintenance | $247,887 |
| RSM US LLP Tax & audit services | $171,732 |
| MINTZ LEVIN COHN FERRIS GLOVSKY & P Legal services | $141,987 |
| OMNIA GLOBAL PARTNERS Payroll consulting services | $132,735 |
Individuals listed as contractors are left out. 9 contractors were paid more than $100,000 in all.
Private foundation grants it received
65 private foundations reported grants to New England Conservatory of Music totaling $14M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from New England Conservatory of Music's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for New England Conservatory of Music, you can publish a response that is linked from this page.
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Of every $100 New England Conservatory of Music spent in FY2025, $80.82 went to programs. The full breakdown, from its IRS Form 990:
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All education charities · Largest charities in Massachusetts
Questions people ask
How much of New England Conservatory of Music's spending goes to programs?
In the fiscal year ending June 30, 2025, New England Conservatory of Music reported that 80.8% of its $86.3 million in expenses went to program services, 15.6% to management and general and 3.6% to fundraising (Form 990, Part IX).
How much does New England Conservatory of Music pay its top executive?
The largest total compensation New England Conservatory of Music reported for one person in the fiscal year ending June 30, 2025 was $573,510, for the role of PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does New England Conservatory of Music get its money?
Of $90.2 million in revenue in the fiscal year ending June 30, 2025, 22.2% came from contributions and grants (including 5.4% from government grants) and 68.7% from program service revenue (Form 990, Part VIII).
Is New England Conservatory of Music a registered charity?
The IRS lists EIN 23-7225104 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202601319349302400 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202541329349303234 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202421369349309142 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202311339349300226 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202201299349302145 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202131339349302018 · read the filing
All filings for EIN 23-7225104: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.