Illinois Philharmonic Orchestra
- Assets
- $4.6m
- Revenue
- $931.4k
- Investments
- $710.3k
- Employees
- 182
- Location
- Park Forest, IL
- Founding
- 02/1976
- Data as of
- 05/2024
- EIN
- 36-3293300
Organization Overview
Illinois Philharmonic Orchestra is located in Park Forest, IL. The organization was established in 1976. According to its NTEE Classification (A69) the organization is classified as: Symphony Orchestras, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 05/2024, Illinois Philharmonic Orchestra employed 182 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Philharmonic Orchestra 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 05/2024, Illinois Philharmonic Orchestra generated $931.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $1.1m during the year ending 05/2024. While expenses have increased by 4.4% per year over the past 8 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE CONCERTS OF COMPELLING PROFESSIONAL SYMPHONIC MUSIC, SUPPORT MUSIC EDUCATION, AND EXPAND AUDIENCE AWARENESS OF MUSICAL EXCELLENCE FOR THE DIVERSE COMMUNITIES OF THE GREATER CHICAGO REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONCERTS - THE ORGANIZATION TRADITIONALLY PERFORMS SIX SATURDAY MATINEE AND EVENING CLASSICAL CONCERTS AND A HOLIDAY POPS MATINEE CONCERT IN DECEMBER, ALONG WITH TWO YOUTH EDUCATION CONCERTS IN APRIL FOR APPROXIMATELY 2,000 SOUTHLAND STUDENTS. OVER THE SUMMER MONTHS, THE ORGANIZATION ALSO PRESENTS A SERIES OF SMALL-ENSEMBLE OUTDOOR CHAMBER CONCERTS, FOR BOTH TICKETED PATRONS AND FREE COMMUNITY AUDIENCES.
EDUCATION AND ENGAGEMENT - THE ORGANIZATION MAINTAINS A STRONG COMMITMENT TO EDUCATION. THROUGH A WIDE VARIETY OF ENGAGING PROGRAMS DESIGNED TO MEET THE NEEDS OF STUDENTS, TEACHERS, AND COMMUNITY MEMBERS OF ALL AGES, THE ORGANIZATION STRIVES TO BUILD A STRONGER COMMUNITY AND IMPART ITS PASSION OF MUSIC AN THE ARTS TO OTHERS. DURING THE 2022/23 SEASON, IPO EXPANDED ITS EDUCATIONAL PROGRAMMING THROUGH THE MARILYNN TANNEBAUM YOUTH MUSIC EDUCATION INSTITUTE, WHICH WAS ESTABLISHED IN 2021/22 TO DEVELOP EXCITEMENT FOR ORCHESTRAL MUSIC THROUGH ENGAGEMENT BETWEEN THE YOUTH OF OUR COMMUNITIES AND THE VIBRANT, CREATIVE MUSICIANS OF THE ILLINOIS PHILHARMONIC ORCHESTRA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christina Salerno Executive Dir. | Officer | 40 | $88,863 |
Barbara Sturges President | OfficerTrustee | 6 | $0 |
Karen Hoag Vice President | OfficerTrustee | 2 | $0 |
Richard Davis Treasurer | OfficerTrustee | 6 | $0 |
Pat Barker Secretary | OfficerTrustee | 2 | $0 |
Kathleen Field Orr Past President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $137,780 |
| Related organizations | $0 |
| Government grants | $60,170 |
| All other contributions, gifts, grants, and similar amounts not included above | $396,285 |
| Noncash contributions included in lines 1a–1f | $52,255 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $594,235 |
| Total Program Service Revenue | $241,835 |
| Investment income | $128,561 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,193 |
| Net Income from Fundraising Events | -$49,203 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $931,433 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $88,863 |
| Compensation of current officers, directors, key employees. | $39,989 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $581,399 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,234 |
| Payroll taxes | $45,335 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $40,911 |
| Fees for services: Other | $60,505 |
| Advertising and promotion | $19,232 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $39,922 |
| Travel | $39,828 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,051 |
| Insurance | $18,095 |
| All other expenses | $52,732 |
| Total functional expenses | $1,122,888 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $228,586 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,650 |
| 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 | $5,951 |
| Net Land, buildings, and equipment | $6,794 |
| Investments—publicly traded securities | $3,675,380 |
| Investments—other securities | $710,291 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,636,652 |
| Accounts payable and accrued expenses | $11,381 |
| Grants payable | $0 |
| Deferred revenue | $87,712 |
| 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 | $99,093 |
| Net assets without donor restrictions | $1,300,950 |
| Net assets with donor restrictions | $3,236,609 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $4,636,652 |