Conservatory Lab Foundation INC: FY2024 Nonprofit Profile & Form 990 (EIN 04-3443578)

Revenue by fiscal year
FY2021	$901K
FY2022	$3.3M
FY2023	$2.0M
FY2024	$2.7M
FY2025	$2.8M

Expenses by fiscal year
FY2021	$4.7M
FY2022	$1.8M
FY2023	$1.9M
FY2024	$2.0M
FY2025	$5.9M

Net assets by fiscal year
FY2021	$596K
FY2022	$2.1M
FY2023	$2.1M
FY2024	$2.7M
FY2025	−$402K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1999.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

79 cents of each dollar spent went to programs.

79%

19%

Program services 79% · $1.6M Management & general 2% · $46K Fundraising 19% · $381K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII

Katharine M Pell

Clerk & Class B Director

$0Pt VII · Sec A

John Paolella

Treasurer & Class a Direct

$0Pt VII · Sec A

Debra L Smith

Assistant Clerk & Class a

$0Pt VII · Sec A

Bradley F Richardson

Class B Director

$0Pt VII · Sec A

Gary Gut

Class B Director

$0Pt VII · Sec A

Melanie Sheffield

President & Class a Direct

$0Pt VII · Sec A

Dave Joyner

Class B Director

$0Pt VII · Sec A

Bob Grinberg

Trustee

$0Pt VII · Sec A

See Conservatory Lab Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes music education as a learning model for wider understanding.

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Provided by the organization

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2 programs · $1.6M · in their own filed words · FY2023

01

Conservatory lab foundation leased a building to conservatory lab charter school.

$1.2Mprogram expense

02

The foundation raised funds to benefit the programs for the dissemination of learning thru music as an educational model

$429Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2024

Boston Foundation INCFY2024$178K

Fidelity Investments Charitable Gift FundFY2024$93K

Wellington Management FoundationFY2024$60K

Van Otterloo Family FoundationFY2024$25K

The Carol H and Kevin W Sharer Education FoundationFY2024$25K

Deborah Munroe Noonan Memorial FundFY2024$20K

Point32health Foundation INCFY2024$20K

Donor Advised Charitable Giving INCFY2024$17K

Total grants receivedfrom 10 funders$468K

See all 10 funders →

Grants paid · 6 grants · $5.5M · 2020–2024

Clcs Realty II Support CorporationMA · FY2024$3,556,037

Conservatory Lab Charter SchoolFY2024$566,125

Conservatory Lab Charter SchoolFY2023$429,300

Conservatory Lab Charter SchoolFY2022$363,700

Conservatory Lab Charter SchoolFY2021$237,600

Conservatory Lab Charter SchoolFY2020$337,346

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$2.7M

Ln 12

Gifts and grantsLn 1h$2.2M

Investment incomeLn 3$176K

Fees for servicesLn 2g$158K

Money outPt IX

$2.0M

Ln 25

Programscol B$1.6M

Managementcol C$46K

Fundraisingcol D$381K

Owns and owesPt X

$2.7M

net assets · Ln 32

Cash and savingsLn 1–2$473K

Total assetsLn 16$25.3M

LiabilitiesLn 26$22.5M

PeoplePt VI, VII

9

listed · VII A

PaidVII A0

Voting boardVI 1a9

IndependentVI 1b9

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2.2M

Noncash giftsLn 1g$8K

Fees for servicesLn 2g$158K

Investment incomeLn 3$176K

Other incomeLn 4–11$116K

Gains on assetsLn 7$21K

Total revenueLn 12$2.7M

Assets in detailPt X, end of year

CashLn 1$473K

Cash and savings togetherLn 1–2$473K

InvestmentsLn 11–13$939K

Land, buildings, equipmentLn 10c$4.1M

Other assetsLn 15$379K

Total assetsLn 16$25.3M

LiabilitiesLn 26$22.5M

Net assetsLn 32$2.7M

OperationsPt I, VI

EmployeesI 53

VolunteersI 60

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$265K	$473K
InvestmentsLn 11–13	$907K	$939K
Land, buildings, equipmentLn 10c	$3.0M	$4.1M
Total assetsLn 16	$25.0M	$25.3M
LiabilitiesLn 26	$22.9M	$22.5M
Net assetsLn 32	$2.1M	$2.7M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$429K	$429K
Other salaries and wagesLn 7	$279K		$14K	$265K
Pension plan contributionsLn 8	$43K		$2K	$40K
Accounting feesLn 11c	$19K		$19K
Other fees for servicesLn 11g	$3K		$3K
Office expensesLn 13	$2K		$2K
InterestLn 20	$1.1M	$1.1M
Depreciation, depletion and amortizationLn 22	$71K	$71K
Other expenses (24a–d)Ln 24	$82K		$5K	$76K
All other expensesLn 24e	$660		$660
Total functional expensesLn 25	$2.0M	$1.6M	$46K	$381K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$2.8M	$5.9M	−$3.1M	−$402K	990 PDF
FY2024 Viewing	$2.7M	$2.0M	$618K	$2.7M	990 PDF
FY2023	$2.0M	$1.9M	$82K	$2.1M	990 PDF
FY2022	$3.3M	$1.8M	$1.5M	$2.1M	990 PDF
FY2021	$901K	$4.7M	−$3.8M	$596K	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2024 990 (6 parts)

Part I · Summary $2,665,526 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $659,014$2,215,130

I-9 Program service revenuePrior year $160,828$158,401

I-10 Investment incomePrior year $135,059$175,610

I-11 Other revenuePrior year $1,066,335$116,385

I-12 Total revenuePrior year $2,021,236$2,665,526

I-13 Grants and similar amounts paidPrior year $363,958$429,300

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $288,702$321,094

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $1,286,136$1,297,546

I-18 Total expensesPrior year $1,938,796$2,047,940

I-19 Revenue less expensesPrior year $82,440$617,586

Part VI · Governance 9 of 9 board members independent, 1 to look at

VI-1a Voting members of the governing body9

VI-1b Independent voting members9

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $2,665,526 across 8 lines filed

VIII-1f All other contributions, gifts and grants$2,215,130

VIII-1g Noncash contributions (included above)$8,041

VIII-1h Total contributions, gifts and grants$2,215,130

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $158,401$158,401

VIII-3 Investment incomeRelated to mission $154,123$154,123

VIII-7 Net gain or loss on sales of assetsRelated to mission $21,487$21,487

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $116,385$116,385

VIII-12 Total revenueRelated to mission $450,396 · Unrelated business $0 · Excluded from tax $0$2,665,526

Part IX · Statement of functional expenses $2,047,940 across 10 lines filed

IX-1 Grants to domestic organizationsPrograms $429,300$429,300

IX-7 Other salaries and wagesManagement $13,930 · Fundraising $264,661$278,591

IX-8 Pension plan contributionsManagement $2,125 · Fundraising $40,378$42,503

IX-11c Accounting feesManagement $19,000$19,000

IX-11g Other fees for servicesManagement $3,101$3,101

IX-13 Office expensesManagement $1,612$1,612

IX-20 InterestPrograms $1,120,880$1,120,880

IX-22 Depreciation, depletion and amortizationPrograms $70,714$70,714

IX-24 Other expenses (24a–d)Management $5,499 · Fundraising $76,080$81,579

IX-24e All other expensesManagement $660$660

IX-25 Total functional expensesPrograms $1,620,894 · Management $45,927 · Fundraising $381,119$2,047,940

Part X · Balance sheet $25,269,182 assets, 13 lines filed

Asset lines not itemized here account for $19,359,814; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $265,016$473,144

X-4 Accounts receivable$25,000

X-10c Land, buildings and equipment, netStart of year $2,982,564$4,093,457

X-12 Other securitiesStart of year $906,504$938,568

X-15 Other assetsStart of year $268,000$379,199

X-16 Total assetsStart of year $24,981,246$25,269,182

X-17 Accounts payable and accrued expensesStart of year $98,279$88,666

X-25 Other liabilitiesStart of year $1,483,494$1,517,927

X-26 Total liabilitiesStart of year $22,852,399$22,522,749

X-27 Net assets without donor restrictionsStart of year $2,118,821$1,405,407

X-28 Net assets with donor restrictionsStart of year $10,026$1,341,026

X-32 Total net assets or fund balancesStart of year $2,128,847$2,746,433

X-33 Total liabilities and net assetsStart of year $24,981,246$25,269,182

Part XI · Reconciliation of net assets $2,746,433 net assets at year end

XI-1 Total revenue$2,665,526

XI-2 Total expenses$2,047,940

XI-3 Revenue less expenses$617,586

XI-4 Net assets at start of year$2,128,847

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$2,746,433

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Conservatory Lab Foundation INC FY2024 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Conservatory Lab Foundation INC

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV