Solti Foundation is located in Evanston, IL. The organization was established in 2002. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Solti Foundation 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 12/2023, Solti Foundation generated $288.3k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $261.6k during the year ending 12/2023. While expenses have increased by 4.9% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE SOLTI FOUNDATION U.S. WAS ESTABLISHED AFTER THE 1997 DEATH OF SIR GEORG SOLTI. ITS MISSION IS TO ASSIST TALENTED YOUNG AMERICAN MUSICIANS AT THE START OF THEIR PROFESSIONAL CAREERS. IT HAS MADE ANNUAL GRANTS TO AWARDEES SINCE 2003.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOLTI FOUNDATION U.S. HELD ITS ANNUAL SOLTI NIGHT BENEFIT DINNER ON OCTOBER 18 AT CHICAGO'S CASINO CLUB IN HONOR OF THE 2023 SOLTI FELLOW AND CAREER ASSISTANCE AWARDEES. SINCE ITS FOUNDATION IN 2000, THE SOLTI FOUNDATION U.S. HAS AWARDED GRANTS TOTALING MORE THAN $1,500,000 TO YOUNG AMERICAN CONDUCTORS, AGE LIMIT OF 38, AND HAS ESTABLISHED A UNIQUE AND SUCCESSFUL OPERA RESIDENCY PROGRAM. IN 2023, THE SIR GEORG SOLTI CONDUCTING AWARD, WITH A MONETARY PRIZE OF $30,000, WAS PRESENTED TO KEITARO HARADA, THE LARGEST GRANT CURRENTLY GIVEN TO YOUNG AMERICAN CONDUCTORS. MAESTRO HARADA IS THE MUSIC AND ARTISTIC DIRECTOR OF THE SAVANNAH PHILHARMONIC AND ASSOCIATE CONDUCTOR OF THE TOKYO SYMPHONY ORCHESTRA. FURTHER, THE FOUNDATION THIS YEAR GAVE 22 EXCEEDINGLY TALENTED YOUNG CONDUCTORS CAREER ASSISTANCE AWARDS. AMONG THIS GROUP WHO WERE ABLE TO ATTEND IN PERSON WERE ELIAS BROWN, AUSTIN CHANU, JOHN DEVLIN, NATHANIEL EFTHIMIOU, GERALD KARNI, NICHOLAS KOO, JACOB NIEMANN, JACOB SCHNITZER, WILLIAM WALKER, AND ALYSSA WANG. DEAN WHITESIDE, A FOUNDATION 2022 CAREER ASSISTANCE AWARDEE CURRENTLY SERVING A 2023 SOLTI FOUNDATION U.S. OPERA RESIDENCY AT LYRIC OPERA, DELIVERED A FASCINATING AND POIGNANT ACCOUNT OF HIS WORK.THE EVENING BEGAN WITH A COCKTAIL RECEPTION FOLLOWED BY CHAIR, PENNY VAN HORN'S FOUNDATION COMMENTS, NAMING OF AWARD RECIPIENTS, AND CULMINATING PER TRADITION WITH AN EXCITING MUSICAL INTERLUDE. THIS YEAR, THE CONCERT PROGRAM FEATURED THE FIRST MOVEMENT OF GABRIEL FAURS SONATA FOR VIOLIN AND PIANO PERFORMED BY VIOLINIST DANNY YEHUN JIN, IN COLLABORATION WITH PIANIST MARTA AZNAVOORIAN. JIN WAS APPOINTED ASSISTANT PRINCIPAL SECOND VIOLIN OF THE CHICAGO SYMPHONY ORCHESTRA IN 2023. AZNAVOORIAN IS A MEMBER OF THE CELEBRATED LINCOLN TRIO, ON FACULTY AT DEPAUL UNIVERSITY, AND ARTIST-IN-RESIDENCE AT THE MUSIC INSTITUTE OF CHICAGO.GUESTS ENTERED THE CASINOS LANDMARK DINING AREA VIEWING TABLES DISPLAYING FLORAL CENTERPIECES OF BEAUTIFUL PEACH ROSES, SURROUNDED BY AUTUMNAL BLOOMS AND EUCALYPTUS. THE DINNER MENU INCLUDED A COLORFUL SALAD OF SEASONAL GREENS WITH POACHED SECKEL PEAR, A BEEF TENDERLOIN ENTREE, AND A WARM APPLE STRUDEL DESSERT WITH CARAMEL SAUCE AND VANILLA ICE CREAM. APPROXIMATELY 100 GUESTS ATTENDED, WITH FUNDS RAISED FOR THE 2024 GRANTS EXCEEDING $100,000.THE SOLTI FOUNDATION U.S. IS THE FOREMOST ORGANIZATION IN THE UNITED STATES DEDICATED EXCLUSIVELY TO HELPING YOUNG CONDUCTORS. SIR GEORG WAS CONDUCTOR OF THE CHICAGO SYMPHONY ORCHESTRA FROM 1959-1991 AND LAUREATE CONDUCTOR UNTIL 1997.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
See Attached List Directors | Trustee | 0 | $0 |
See Attached List Officers | Trustee | 0 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $83,101 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $34,900 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $118,001 |
Total Program Service Revenue | $0 |
Investment income | $23,133 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $147,171 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $288,305 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $135,000 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $30,000 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $2,295 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $4,265 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $4,989 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $16,669 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $24 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $8,307 |
Total functional expenses | $261,633 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $5,500 |
Accounts receivable, net | $0 |
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 | $0 |
Investments—publicly traded securities | $811,975 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $817,475 |
Accounts payable and accrued expenses | $12,637 |
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 | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $12,637 |
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 | $804,838 |
Total liabilities and net assets/fund balances | $817,475 |