The Chicago Philharmonic Society
- Assets
- $1.4m
- Revenue
- $1.0m
- Investments
- $609.7k
- Employees
- 219
- Location
- Chicago, IL
- Founding
- 05/1990
- Data as of
- 06/2021
- EIN
- 36-3616076
Organization Overview
The Chicago Philharmonic Society is located in Chicago, IL. The organization was established in 1990. 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 06/2021, Chicago Philharmonic Society employed 219 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Philharmonic Society 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 06/2021, Chicago Philharmonic Society generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.6%) each year. All expenses for the organization totaled $548.2k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (18.5%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EXCITE, ENGAGE, AND TRANSFORM DIVERSE AUDIENCES WITH THE BEAUTY AND POWER OF MUSIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROMOTION AND APPRECIATION OF ORCHESTRAL AND CHAMBER MUSIC AMONG THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donna Milanovich Secretary & Exec Director - Term | OfficerTrustee | 40 | $72,569 |
Karin Ursin Board Member | Trustee | 1 | $12,835 |
Carmen Llop Kassinger Board Member | Trustee | 1 | $10,621 |
Barbara Haffner Board Member | Trustee | 1 | $8,180 |
Reed Capshaw Board Member | Trustee | 1 | $7,954 |
Jennifer Cappelli Board Member | Trustee | 1 | $7,937 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $515,681 |
| All other contributions, gifts, grants, and similar amounts not included above | $447,364 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $963,045 |
| Total Program Service Revenue | $5,204 |
| Investment income | $586 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $30,975 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,001,087 |
| 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. | $79,885 |
| Compensation of current officers, directors, key employees. | $29,661 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $254,702 |
| Pension plan accruals and contributions | $4,813 |
| Other employee benefits | $0 |
| Payroll taxes | $38,969 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $215 |
| Fees for services: Accounting | $39,448 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,275 |
| Advertising and promotion | $13,522 |
| Office expenses | $20,958 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,086 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $854 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $282 |
| Insurance | $10,865 |
| All other expenses | $0 |
| Total functional expenses | $548,174 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,246 |
| Savings and temporary cash investments | $212,150 |
| Pledges and grants receivable | $468,603 |
| 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 | $3,007 |
| Net Land, buildings, and equipment | $1,409 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $609,664 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,333 |
| Total assets | $1,354,412 |
| Accounts payable and accrued expenses | $71,443 |
| Grants payable | $0 |
| Deferred revenue | $204,821 |
| 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 | $276,264 |
| Net assets without donor restrictions | $729,888 |
| Net assets with donor restrictions | $348,260 |
| 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 | $1,354,412 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that The Chicago Philharmonic Society has recieved totaling $68,556.
| Awarding Organization | Amount |
|---|---|
Beatrice P Delaney Char Fdn Chicago, IL PURPOSE: GENERAL | $25,000 |
Walder Family Foundation Wilmington, DE PURPOSE: INTERNSHIP PROGRAM | $20,000 |
John R Halligan Charitable Fund Bannockburn, IL PURPOSE: UNRESTRICTED FOR GENERAL USE OF CHARITY | $12,500 |
Charles & M R Shapiro Foundation Inc Northbrook, IL PURPOSE: MUSIC ACADEMY PERFORMANCE PROGRAM | $10,000 |
Stephen N And Ann S Potter Fam Foundation Chicago, IL PURPOSE: GENERAL | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $56 |
Endowment Analysis
| Beg. Balance | $510,252 |
| Earnings | $124,412 |
| Admin Expense | $30,000 |
| Net Contributions | $5,000 |
| Ending Balance | $609,664 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chicago Symphony Orchestra Chicago, IL | $576,700,123 | $109,905,535 |
Saint Louis Symphony Orchestra St Louis, MO | $77,659,859 | $61,304,520 |
Kansas City Symphony Kansas City, MO | $64,822,369 | $17,397,853 |
Milwaukee Symphony Orchestra Inc Milwaukee, WI | $122,941,209 | $33,243,126 |
Saint Louis Symphony Endowment Trust Saint Louis, MO | $280,111,729 | $18,922,089 |
Indiana Symphony Society Inc Indianapolis, IN | $13,063,766 | $26,550,940 |
The Louisville Orchestra Inc Louisville, KY | $7,756,568 | $11,516,592 |
Fort Wayne Philharmonic Orchestra Inc Fort Wayne, IN | $27,926,694 | $5,947,084 |
Madison Symphony Orchestra Inc Madison, WI | $6,807,074 | $3,792,114 |
Des Moines Symphony Association Des Moines, IA | $12,208,795 | $2,653,432 |
Milwaukee Youth Symphony Orchestra Inc Milwaukee, WI | $9,958,210 | $2,491,222 |
Elgin Symphony Orchestra Assoc Elgin, IL | $718,957 | $2,098,094 |