Form 990 for tax year 2023

Filed by PASADENA CONSERVATORY OF MUSIC.

Totals

Total revenue: $6,305,314
Total expenses: $3,792,232
Contributions and grants received: $3,627,209
Grants paid: $0
Program service revenue: $2,425,808
Investment income: $278,669
Other revenue: -$26,372
Total assets, end of year: $21,215,232
Total liabilities, end of year: $1,131,604
Net assets or fund balances, end of year: $20,083,628
Program services expenses (Part IX): $3,015,723
Management and general expenses: $588,031
Fundraising expenses: $188,478
Program service expenses (Part III): $3,015,723

Program services were 79.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1c · Fundraising events

$14,106
1e · Government grants (contributions)

$60,324
1f · All other contributions, gifts and grants

$3,552,779
1g · Noncash contributions included above

$56,230
2a · Program service revenue: Tuition Income

total $2,265,114 · related or exempt $2,265,114
2b · Program service revenue: Concerts

total $57,382 · related or exempt $57,382
2f · All other program service revenue

total $103,312 · related or exempt $103,312
3 · Investment income

total $279,389 · excluded $279,389
7a · Gross sales of assets other than inventory

securities $2,522,969
7b · Less cost or other basis and sales expenses

securities $2,523,689
7c · Gain or loss

securities -$720
7d · Net gain or loss

total -$720 · excluded -$720
8a · Fundraising events: gross income

$8,600
8a · Fundraising events: contributions included on line 1c

$14,106
8b · Fundraising events: direct expenses

$34,972
8c · Net income from fundraising events

total -$26,372 · excluded -$26,372

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $183,207 · program services $73,283 · management and general $82,443 · fundraising $27,481
7 · Other salaries and wages

total $2,110,925 · program services $1,673,034 · management and general $323,187 · fundraising $114,704
9 · Other employee benefits

total $95,549 · program services $79,519 · management and general $11,762 · fundraising $4,268
10 · Payroll taxes

total $183,141 · program services $144,964 · management and general $28,261 · fundraising $9,916
11a · Fees: management

total $63,307 · program services $61,386 · management and general $1,477 · fundraising $444
11c · Fees: accounting

total $39,048 · management and general $39,048
11g · Fees: other

total $338,573 · program services $323,348 · management and general $12,353 · fundraising $2,872
12 · Advertising and promotion

total $65,747 · program services $10,695 · management and general $54,974 · fundraising $78
13 · Office expenses

total $67,765 · program services $47,120 · management and general $16,875 · fundraising $3,770
16 · Occupancy

total $138,036 · program services $133,848 · management and general $3,220 · fundraising $968
19 · Conferences, conventions and meetings

total $5,677 · program services $2,857 · management and general $2,656 · fundraising $164
22 · Depreciation, depletion and amortization

total $250,353 · program services $242,756 · management and general $5,841 · fundraising $1,756
23 · Insurance

total $48,194 · program services $42,830 · management and general $5,054 · fundraising $310
24a · Other expenses: Recitals and Concerts

total $97,543 · program services $91,253 · management and general $880 · fundraising $5,410
24b · Other expenses: Fee For Service Program

total $40,966 · program services $40,966
24c · Other expenses: Program Equipment and S

total $31,030 · program services $31,030
24d · Other expenses: Music materials

total $1,265 · program services $1,265
24e · All other expenses

total $31,906 · program services $15,569 · fundraising $16,337

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $5,429,762 · end of year $394,205
3 · Pledges and grants receivable

beginning of year $2,405,341 · end of year $1,033,721
4 · Accounts receivable

beginning of year $79,608 · end of year $128,061
9 · Prepaid expenses and deferred charges

beginning of year $16,469 · end of year $18,148
10a · Land, buildings and equipment: cost or other basis

$16,627,014
10b · Land, buildings and equipment: accumulated depreciation

$3,436,190
10c · Land, buildings and equipment, net

beginning of year $9,611,161 · end of year $13,190,824
11 · Investments: publicly traded securities

beginning of year $325,960 · end of year $6,319,453
15 · Other assets

beginning of year $68,843 · end of year $130,820
17 · Accounts payable and accrued expenses

beginning of year $158,044 · end of year $826,866
19 · Deferred revenue

beginning of year $152,394 · end of year $173,918
25 · Other liabilities

beginning of year $68,843 · end of year $130,820
27 · Net assets without donor restrictions

beginning of year $9,317,539 · end of year $9,170,575
28 · Net assets with donor restrictions

beginning of year $8,240,324 · end of year $10,913,053

Mission and programs · 2023

Mission

PCM's mission is to: educate through a comprehensive curriculum taught by an exceptional faculty; advocate for the value of music study; inspire through performances of traditional, contemporary, and multicultural music; and, share our expertise with a broad spectrum of the community.

Activities or mission (Part I)

To provide opportunities for all students to study, perform and enjoy music.

Outreach programs are provided to approximately 650 students at various sites in the Pasadena area. On site instruction programs are provided to approximately 1,000 students through a comprehensive curriculum. About 200 performances were presented on and off during the year; attendance at these events totalled more than 18,000

Expenses $3,015,723 · Revenue $2,425,808

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Laurie Sowd

Board Chair

Total calculated

$0

Hours/week

1
Eric Lee

Treasurer

Total calculated

$0

Hours/week

1
Alison Lifland

Secretary

Total calculated

$0

Hours/week

1
Ann Dobson-Barrett

Director

Total calculated

$0

Hours/week

1
Ann Horton

Director

Total calculated

$0

Hours/week

1
Richard Goetz

Director

Total calculated

$0

Hours/week

1
Jane Kaczmarek

Director

Total calculated

$0

Hours/week

1
Bonnie Khang-Keating

Director

Total calculated

$0

Hours/week

1
Tom Kidde

Director

Total calculated

$0

Hours/week

1
Craig Matsuda

Director

Total calculated

$0

Hours/week

1
Greg Pieschala

Director

Total calculated

$0

Hours/week

1
Andy Rooke

Director

Total calculated

$0

Hours/week

1
Judith Kelly

Director

Total calculated

$0

Hours/week

1
June Li

Director

Total calculated

$0

Hours/week

1
Stephen McCurry

Executive Director

Total calculated

$183,207

From this org

$165,843

From related orgs

$0

Other

$17,364

Hours/week

40

Schedule J breakdown matched by us

Base

$165,843

Bonus

$0

Other

$0

Deferred

$17,364

Nontaxable benefits

$532

Filer's total

$183,739

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Form 990 of other organizations
3 · Compensation survey or study
3 · Approval by the board or compensation committee
4b · Supplemental nonqualified retirement plan

Answered no

4a · Severance or change-of-control payment
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 4b: The organization established a nonqualified deferred compensation plan for Stephen McCurry, Executive Director. During the year ended June 30, 2024, $17,364 was deposited into a variable annuity account.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2023
Filed: 14 May 2025
IRS schema version: 2023v6.0
Source object: 202511359349312706

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