2024-05-10T11:59:11-05:00 2023-06-30 420714325 RSM US LLP 30 South Wacker Dr Suite 3300 Chicago IL 606063392 990 2022-07-01 362167823 Chicago Symphony Orchestra CHIC 3122943333 220 S Michigan Avenue Chicago IL 606042559 Jeff Alexander President 3122943301 2024-05-07 1 Jeff Alexander XXX-XX-XXXX 1 Rebekuh Eley P01247672 3126343400 2024-05-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Jeff Alexander 220 S Michigan Avenue Chicago IL 606042559 188776137 0 X www.cso.org X 1890 IL See Schedule O - Supplemental information.With the Chicago Symphony Orchestra at its core, the mission of the Chicago Symphony Orchestra Association is to enrich, inspire and transform lives through music, community engagement and education - locally, nationally and internationally. 130 129 1140 845 912010 0 62198360 24278183 20795204 29251034 19509067 27140395 -70534 158110 102432097 80827722 5950 0 0 0 47910834 52682226 244748 285301 4423165 26918718 32633656 75080250 85601183 27351847 -4773461 530890156 515186651 200470932 172435879 330419224 342750772 X With the Chicago Symphony Orchestra at its core, the mission of the Chicago Symphony Orchestra Association is to enrich, inspire and transform lives through music, community engagement and education - locally, nationally and internationally. 0 0 53165948 0 24381071 Chicago Symphony Orchestra Concerts - During the 2022/23 Season, the Chicago Symphony Orchestra presented 36 weeks of concerts in Chicago and toured to six states and Toronto. In his final season as Zell Music Director, Riccardo Muti conducted nine weeks of concerts at Symphony Center, led the CSO's tours and conducted the Concert for Chicago. The Orchestra gave the world premiere of a CSO commission by Mead Composer-in-Residence Jessie Montgomery and the U.S. premieres of co-commissions by Jimmy Lopez Bellido and Lera Auerbach. The CSO collaborated with The Joffrey Ballet and 49 guest conductors and soloists, such as cellist Yo-Yo Ma and composer/conductor John Williams. The Chicago Symphony Chorus joined the Orchestra to perform works by Mozart, Beethoven, Stravinsky and more. 4650942 0 4427954 Symphony Center Presents Concerts - The Chicago Symphony Orchestra Association offers concerts by acclaimed guest artists in the fields of jazz, classical, world and folk music as part of the Symphony Center Presents series. The 2022/23 Season featured 34 concerts including sold-out performances by the Berliner Philharmoniker, soprano Renee Fleming with pianist Evgeny Kissin, tenor Juan Diego Florez, violinist Itzhak Perlman and R&B and civil rights icon Mavis Staples - a performance that was later broadcast nationally on PBS. Cuban pianist and composer Chucho Valdes performed The Creation, a Symphony Center Presents Jazz co-commission, and the CSO Brass gave the world premiere of Timothy Higgins' Concert Music for Brass, Timpani and Percussion, a CSO commission. 2383282 0 90063 Civic Orchestra of Chicago - The Civic Orchestra of Chicago, the CSO's prestigious training program for young professional musicians, presented 43 concerts in Orchestra Hall and community venues, including South Shore Cultural Center, Nicholas Senn High School, Kenwood Academy High School and Fourth Presbyterian Church. In addition to gaining performance experience, Civic musicians participated in coaching sessions and workshops with Principal Conductor Ken-David Masur, CSO musicians and guest artists. The 2022/23 Season marked the 10th anniversary of the Civic Fellowship program, which provides select Civic members with supplemental training in artistic planning, music education, social justice and project management. 221259 0 204895 Retail Sales - Music-related merchandise is available for purchase at The Symphony Store and online. 592798 0 41289 Media and Royalty - Radio Broadcast series, in-house recording label, audio recordings in compact disc and digital download formats. 1033563 0 743332 Rentals, Commissions, and Restaurant - Hall Rentals - Performance space provided to Chicagoland arts organizations. 176622 0 420000 Rentals, Commissions, and Restaurant - Parking Lot provided for audiences' convenience to attend concerts. 1241692 0 -1345172 Rentals, Commissions, and Restaurant - A dining club and concessions are provided for audiences attending concerts and catering is provided for certain internal events. 2161238 0 280829 Education Concerts and Activities - Across Chicago and around the world, the Negaunee Music Institute connects people to the extraordinary resources of the Chicago Symphony Orchestra. In the 2022/23 Season, the NMI presented 36 CSO for Kids concerts at Symphony Center and 40 performances in schools. Training programs and performance opportunities for young musicians included the Crain-Maling Foundation CSO Young Artists Competition, Chicago Youth in Music Festival, Percussion Scholarship Program, Young Composers Initiative and partnerships with local schools and the Chicago Musical Pathways Initiative. The NMI continued to co-present Notes for Peace, a songwriting project that empowers parents who have lost children to gun violence to create original songs of tribute. 132756 0 211668 Other Program Services - Program Book Advertising 5559928 0 556841 65760100 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 193 0 1 1140 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 130 129 1 0 1 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 AL AK AR CA CO CT DC FL GA HI IL KS KY MD MA MI MN MS NH NJ NM NY NC OH OK OR PA RI SC TN UT VA WV WI X Stacie M Frank VP and CFO 3122943301 220 S Michigan Avenue Chicago IL 606042559 Jeff Alexander President 40.00 X X 741177 0 47974 Mary Louise Gorno Chair 1.50 X X 0 0 0 Chester A Gougis Vice Chair 0.30 X X 0 0 0 Steven Shebik Vice Chair 1.00 X X 0 0 0 Helen Zell Vice Chair 0.80 X X 0 0 0 Renee Metcalf Treasurer 0.50 X X 0 0 0 William Adams IV Life Trustee 0.50 X 0 0 0 Mrs Robert A Beatty Life Trustee 0.10 X 0 0 0 Arnold M Berlin Life Trustee 0.10 X 0 0 0 Laurence O Booth Life Trustee 0.10 X 0 0 0 William G Brown Life Trustee 0.10 X 0 0 0 Dean L Buntrock Life Trustee 0.10 X 0 0 0 Bruce E Clinton Life Trustee 0.20 X 0 0 0 Richard W Colburn Life Trustee 0.30 X 0 0 0 Richard H Cooper Life Trustee 0.10 X 0 0 0 Anthony T Dean Life Trustee 0.10 X 0 0 0 Debora de Hoyos Life Trustee 0.20 X 0 0 0 Charles Douglas Life Trustee 0.10 X 0 0 0 John A Edwardson Life Trustee 0.10 X 0 0 0 Thomas J Eyerman Life Trustee 0.10 X 0 0 0 James B Fadim Life Trustee 0.30 X 0 0 0 David W Fox Sr Life Trustee 0.10 X 0 0 0 Cyrus F Freidheim Jr Life Trustee 0.20 X 0 0 0 H Laurance Fuller Life Trustee (until 5/15/23) 0.10 X 0 0 0 Mrs Robert W Galvin Life Trustee 0.10 X 0 0 0 Paul C Gignilliat Life Trustee 0.20 X 0 0 0 Joseph B Glossberg Life Trustee 0.30 X 0 0 0 Richard C Godfrey Life Trustee 0.10 X 0 0 0 William A Goldstein Life Trustee 0.30 X 0 0 0 Howard L Gottlieb Life Trustee 0.10 X 0 0 0 Mary Winton Green Life Trustee 0.10 X 0 0 0 Dietrich Gross Life Trustee 0.10 X 0 0 0 David P Hackett Life Trustee 0.10 X 0 0 0 Joan W Harris Life Trustee 0.10 X 0 0 0 John H Hart Life Trustee 0.10 X 0 0 0 Thomas C Heagy Life Trustee 0.10 X 0 0 0 Jay L Henderson Life Trustee 0.30 X 0 0 0 Judith W Istock Life Trustee (until 6/30/23) 0.10 X 0 0 0 William R Jentes Life Trustee 0.20 X 0 0 0 Paul R Judy Life Trustee 0.10 X 0 0 0 Richard B Kapnick Life Trustee 0.10 X 0 0 0 Donald G Kempf Jr Life Trustee 0.10 X 0 0 0 Mrs John C Kern Life Trustee 0.10 X 0 0 0 Robert Kohl Life Trustee 0.40 X 0 0 0 Josef Lakonishok Life Trustee 0.20 X 0 0 0 Charles Ashby Lewis Life Trustee 0.10 X 0 0 0 Eva F Lichtenberg Life Trustee 0.10 X 0 0 0 John S Lillard Life Trustee 0.10 X 0 0 0 John F Manley Life Trustee 0.20 X 0 0 0 Ling Z Markovitz Life Trustee 0.30 X 0 0 0 R Eden Martin Life Trustee 0.10 X 0 0 0 Arthur C Martinez Life Trustee 0.10 X 0 0 0 Judith W McCue Life Trustee 0.20 X 0 0 0 Lester H McKeever Life Trustee 0.10 X 0 0 0 David E McNeel Life Trustee 0.30 X 0 0 0 John D Nichols Life Trustee (until 6/14/23) 0.10 X 0 0 0 James J O'Connor Life Trustee 0.10 X 0 0 0 William A Osborn Life Trustee 0.20 X 0 0 0 Mrs Albert Pawlick Life Trustee 0.10 X 0 0 0 Jane DiRenzo Pigott Life Trustee 0.30 X 0 0 0 John M Pratt Life Trustee 0.10 X 0 0 0 Dr Irwin Press Life Trustee 0.10 X 0 0 0 John W Rogers Jr Life Trustee 0.10 X 0 0 0 Jerry Rose Life Trustee 0.10 X 0 0 0 Frank A Rossi Life Trustee 0.20 X 0 0 0 Earl J Rusnak Jr Life Trustee 0.10 X 0 0 0 Cynthia M Sargent Life Trustee (until 10/11/22) 0.10 X 0 0 0 John R Schmidt Life Trustee 0.20 X 0 0 0 Thomas C Sheffield Jr Life Trustee 0.20 X 0 0 0 Robert C Spoerri Life Trustee 0.10 X 0 0 0 Carl W Stern Life Trustee 0.10 X 0 0 0 William H Strong Life Trustee 0.10 X 0 0 0 Louis C Sudler Jr Life Trustee 0.10 X 0 0 0 Richard L Thomas Life Trustee 0.20 X 0 0 0 Richard P Toft Life Trustee 0.20 X 0 0 0 Penny Van Horn Life Trustee 0.20 X 0 0 0 Paul R Wiggin Life Trustee 0.30 X 0 0 0 John Aalbregtse Trustee 0.60 X 0 0 0 Peter J Barack Trustee 0.30 X 0 0 0 H Rigel Barber Trustee 0.10 X 0 0 0 Randy Lamm Berlin Trustee 0.10 X 0 0 0 Roderick Branch Trustee 0.10 X 0 0 0 Kay Bucksbaum Trustee 0.10 X 0 0 0 Robert J Buford Trustee 0.30 X 0 0 0 Johannes Burlin Trustee 0.30 X 0 0 0 Leslie Henner Burns Trustee 0.60 X 0 0 0 Debra A Cafaro Trustee 0.20 X 0 0 0 Marion A Cameron-Gray Trustee 0.10 X 0 0 0 George P Colis Trustee 0.30 X 0 0 0 Keith S Crow Trustee 0.20 X 0 0 0 Stephen V D'Amore Trustee 0.10 X 0 0 0 Timothy A Duffy Trustee 0.20 X 0 0 0 Brian W Duwe Trustee 0.10 X 0 0 0 Charles Emmons Jr Trustee 0.60 X 0 0 0 Judith E Feldman Trustee 0.40 X 0 0 0 Graham C Grady Trustee 0.20 X 0 0 0 John Holmes Trustee 0.20 X 0 0 0 Lori Julian Trustee 0.40 X 0 0 0 Neil T Kawashima Trustee 0.20 X 0 0 0 Geraldine Keefe Trustee 0.10 X 0 0 0 Donna L Kendall Trustee 0.20 X 0 0 0 Thomas G Kilroy Trustee 0.20 X 0 0 0 Randall S Kroszner Trustee 0.10 X 0 0 0 Patty Lane Trustee 0.20 X 0 0 0 Susan C Levy Trustee 0.20 X 0 0 0 Vikram Luthar Trustee 0.20 X 0 0 0 Britt M Miller Trustee 0.10 X 0 0 0 Toni Marie Montgomery Trustee 0.20 X 0 0 0 Mary Pivirotto Murley Trustee 0.30 X 0 0 0 Sylvia Neil Trustee 0.20 X 0 0 0 Gerald Pauling Trustee 0.50 X 0 0 0 Col Jennifer N Pritzker Trustee 0.10 X 0 0 0 Dr Don M Randel Trustee 0.10 X 0 0 0 Dr Mohan Rao Trustee 0.20 X 0 0 0 Burton X Rosenberg Trustee 0.20 X 0 0 0 Melissa M Root Trustee 0.10 X 0 0 0 Kristen C Rossi Trustee (until 6/30/23) 0.20 X 0 0 0 E Scott Santi Trustee 0.10 X 0 0 0 Marlon R Smith Trustee 0.30 X 0 0 0 Walter Snodell Trustee 0.20 X 0 0 0 Dr Eugene Stark Trustee 0.20 X 0 0 0 Daniel E Sullivan Jr Trustee 0.20 X 0 0 0 Scott Swanson Trustee 0.10 X 0 0 0 Nasrin Thierer Trustee 0.20 X 0 0 0 Lisa Thomas Trustee 0.80 X 0 0 0 Terrence J Truax Trustee 0.20 X 0 0 0 Frederick H Waddell Trustee 0.40 X 0 0 0 William Ward Trustee 0.10 X 0 0 0 Paul SWatford Trustee 0.40 X 0 0 0 Craig R Williams Trustee 0.20 X 0 0 0 Robert A Wislow Trustee 0.20 X 0 0 0 Ann Marie Wright Trustee 0.20 X 0 0 0 Gifford R Zimmerman Trustee 0.20 X 0 0 0 Dale Hedding VP for Development 40.00 X 327764 0 23100 Stacie M Frank VP, CFO, & Assistant Treasurer 40.00 X 317423 0 28587 Kristine Stassen Secretary 40.00 X 71938 0 21627 Vanessa Moss VP for Operations 40.00 X 286958 0 32419 Riccardo Muti Music Director 40.00 X 942263 0 0 Robert Chen Concertmaster 40.00 X 536137 0 82817 David A Cooper Principal Horn 40.00 X 329091 0 61483 Stephen Williamson Principal Clarinet 40.00 X 324361 0 65766 Esteban Batallan Cons Principal Trumpet 40.00 X 322407 0 49013 4199519 0 412786 133 0 1 0 Allied Advertising Limited Partnership 55 Cambridge Parkway Suite 200 Boston MA 02142 Marketing Print, Media Services 1662839 Riccardo Muti 220 S Michigan Avenue Chicago IL 606042559 Artist Performances 1613277 Levy Restaurant 7994 Collections Center Drive Chicago IL 60693 Restaurant, Concessions Stand Services 884005 Kimco Facility Services 3445 Peachtree Road Suite 1275 Atlanta GA 30326 Janitorial Services 713915 Allied Universal Security Services 1551 N Tustin Ave Ste 650 Santa Ana CA 92705 Security Services 695677 34 789536 467564 23021083 2508346 24278183 Ticket Sales 711130 22050157 22050157 Performance/Streaming Fees 711130 5915145 5915145 Other Program Related Revenue 711130 1120387 1120387 Facility Rental Revenue 711130 743332 743332 Parking Lot Rental Revenue 711130 420000 420000 -997987 108602 211668 -1318257 29251034 6778186 6778186 76339 236924 -160585 -160585 -160585 127451939 107071649 18081 20380290 -18081 20362209 802409 19559800 480156 789536 424874 55282 55282 460300 196887 263413 204895 58518 80827722 30142518 912010 25495011 2065896 331179 1380943 353774 39794923 34585819 3206758 2002346 2306253 2131383 107876 66994 5963147 4766845 775616 420686 2552007 2074235 315432 162340 608039 509714 98451 -126 172963 172963 285301 285301 901811 901811 8259721 7132386 1104535 22800 3879980 3482502 210544 186934 794090 469309 206355 118426 511124 302075 132823 76226 2695248 2177022 244123 274103 2180945 2010929 102444 67572 47511 16315 651 30545 5578320 5578320 3772938 3512757 260181 350631 350631 Credit Card Fees 863230 793840 7410 61980 Music License Fees & In 727256 589168 138088 Equipment Rentals 432644 432644 Catering 235314 104392 18270 112652 621891 337586 103693 180612 85601183 65760100 15417918 4423165 386930 1254402 12925325 7452604 35270692 29407854 628833 687668 174632 158348 1169675 1479453 182148342 109180236 74868263 72968106 282706781 305753015 122511913 95683693 247112 341508 530890156 515186651 8573875 6992382 10667578 11250118 134133966 119373380 47095513 34819999 200470932 172435879 X 91849204 99333690 238570020 243417082 330419224 342750772 530890156 515186651 X -4773461 7467544 9637465 X 0 1 X 1 0 X 30805974 37636059 49216933 62198360 24278183 204135509 30805974 37636059 49216933 62198360 24278183 204135509 34323125 169812384 6161973 4984289 4103490 4774794 6778186 26802732 184670 435185 82651 0 55282 757788 231696029 105094707 0.73290 0.74100 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 359969000 1238000 30116000 17974000 373349000 403275000 17516000 -45302000 15520000 359969000 309653000 15890000 93768000 16036000 403275000 323051000 5327000 -3464000 15261000 309653000 314587000 10500000 12801000 14887000 323051000 0.39200 0.48100 0.12700 0 0 25475169 25475169 126328290 86064600 40263690 416038 291354 124684 15730595 14254101 1476494 14198250 8570181 5628069 72968106 Alternative investments - Absolute return 31321636 F Private equity 45008381 F Real assets 11197903 F Beneficial interest in trust 8155773 F 95683693 Pension benefits 27556141 Other long-term liabilities 1127239 Interest rate swap contracts 6136619 34819999 X 93452670 7467544 528278 4654171 12649993 80802677 901811 -876766 25045 80827722 81121122 528278 -4106528 -3578250 84699372 901811 901811 85601183 Part V, Line 4: The Investment Committee, which oversees all the Corporation's investments, operates under investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs, while seeking to maintain the purchasing power of the endowment assets. Under these policies, the endowment assets are invested in a manner that, over time, will meet the long-term objective of a 5 percent real return on assets. The Corporation's policy is to preserve the historical dollar value of permanently restricted contributions, and to use any of the investment returns as is prudent considering the Corporation's long- and short-term needs, resources, duration and preservation of donor-restricted endowment funds, donor restrictions, expected total return on its investments, price level trends, general economic conditions, and investment policies. Part X, Line 2: Income taxes: The Corporation follows the standard on accounting for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the Corporation may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the Corporation, continued tax exempt status of bonds payable, and various positions related to the potential sources of unrelated business taxable income. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. The Corporation files Form 990 in the U.S. federal jurisdiction and the state of Illinois. Part XI, Line 2d - Other Adjustments: Change in Pension Plan Assets and Benefit Obligations 4,654,171. Part XI, Line 4b - Other Adjustments: Rental Expenses (Part VIII, Line 6b) -236,924. Cost of Goods Sold (Part VIII, Line 10b) -196,887. Gain (Loss) on Sale of Other Assets (Part VIII, Line 7c(ii)) -18,081. Special Events Expense (Part VIII, Line 8b) -424,874. Part XII, Line 2d - Other Adjustments: Rental expenses (Part VIII, Line 6b) 236,924. Cost of goods sold (Part VIII, Line 10b) 196,887. Gain (loss) on sale of other assets (Part VIII, Line 7c(ii)) 18,081. Interest Rate Swap -4,983,294. Special Events Expense (Part VIII, Line 8b) 424,874. Central America and the Caribbean 0 0 Alternative Investments (Hedged Equity, Absolute Return and Private Equity) in the Cayman Islands. 42591627 North America 0 0 Program Services North American Tour - The Chicago Symphony Orchestra performed two concerts in Toronto, Canada 360000 0 0 0 0 0 0 42951627 0 42951627 1 0 1 0 1 0 Part III Accounting Method: X X X X X X X 1 DCM Inc 261 West 35th Street Suite 600 New York NY 10001 Telefundraising Campaigns 0 674451 285301 389150 674451 285301 389150 AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY Symphony Ball 1147922 728371 419551 6840 139154 9225 111241 Sound Bite 50101 50101 12855 150 2740 4 71669 11064 60605 77927 1475 63267 1269692 789536 480156 6840 229936 10850 177248 424874 55282 X 1 1 X X X X X 0 0 0 0 0 0 0 1 0 Riccardo Muti Music Director 942263 0 0 0 0 0 0 0 0 0 942263 0 0 0 Jeff Alexander President 730390 0 500 0 10287 0 27812 0 20162 0 789151 0 0 0 Robert Chen Concertmaster 535861 0 0 0 276 0 36858 0 45959 0 618954 0 0 0 David A Cooper Principal Horn 328983 0 0 0 108 0 17006 0 44477 0 390574 0 0 0 Stephen Williamson Principal Clarinet 324085 0 0 0 276 0 20800 0 44966 0 390127 0 0 0 Esteban Batallan Cons Principal Trumpet 322299 0 0 0 108 0 17006 0 32007 0 371420 0 0 0 Dale Hedding VP for Development 309452 0 16950 0 1362 0 13223 0 9877 0 350864 0 0 0 Stacie M Frank VP, CFO, & Assistant Treasurer 306448 0 10500 0 475 0 12403 0 16184 0 346010 0 0 0 Vanessa Moss VP for Operations 268967 0 16193 0 1798 0 16021 0 16398 0 319377 0 0 0 Part I, Line 1a Charter travel is provided for all employees during certain foreign and domestic tours when deemed more economical. Part I, Line 7 Annually, the Chair of the Board reviews and approves any bonus payment for the President. Other bonuses paid to listed employees in 2022 were approved by the Chair of the Board. A Illinois Finance Authority-Part II-Col A 861091967 45200FGY9 2008-05-29 83015000 See Part VI 0 0 0 B Illinois Finance Authority-Part II-Col B 861091667 000000000 2018-06-01 46100000 See Part VI 0 0 0 A 83015000 620000 81364393 722487 308120 1997 1 0 1 1 B 9200000 46100000 1997 1 0 1 1 A 0 0 1 1 1 0 0 0 1 B 0 0 1 1 1 0 0 0 1 A 1 B 1 Date Rebate Computation Performed Issuer Name: Illinois Finance Authority-Part II-Col A Date the Rebate Computation was Performed: 05/20/2013 Issuer Name: Illinois Finance Authority-Part II-Col B Date the Rebate Computation was Performed: 06/01/2018 Schedule K Supplental Information Part I, Line A, Column (f): The Bonds were issued to (i) refinance a line of credit to the Chicago Symphony Orchestra (the Symphony) from the Northern Trust Company (the Line of Credit) and pay or reimburse the Symphony for certain costs relating to the conversion of the interest rate mode (the Series 2002 Conversion) on the $80,650,000 original aggregate principal amount of the Illinois Educational Facilities Authority Revenue Refunding Bonds, Chicago Symphony Orchestra, Series 2002 (the Series 2002 Bonds) and (ii) pay a portion of the interest on the Bonds and certain costs of issuance of the Bonds (including credit enhancement). The proceeds of the Line of Credit were used to finance a portion of the costs of (i) financing the mandatory purchase of the Series 2002 Bonds by the Symphony in connection with the Series 2002 Conversion, (ii) paying certain costs and expenses related to (a) the incurrence and maintenance of the Line of Credit, and (b) the Series 2002 Conversion, and (iii) paying accrued interest on the Line of Credit. The Series 2002 Bonds were issued on December 19, 2002 to refund all of the $77,900,000 original aggregate principal amount of the Illinois Development Finance Authority Variable/Fixed Rate Demand Revenue Bonds, Series 1996 (Chicago Symphony Orchestra Project) (the Series 1996 Bonds), (ii) pay a portion of interest on the Series 2002 Bonds, and (iii) pay a portion of costs of issuance (including bond insurance premium). The 1996 Bonds were issued on June 12, 1996 to (i) finance, refinance and reimburse the Symphony for certain costs relating to the renovation and expansion of Orchestra Hall and surrounding properties, (ii) pay a portion of interest on the Series 1996 Bonds, (iii) pay or reimburse the Symphony for a portion of the interest on the $50,000,000 Illinois Development Finance Authority Variable/Fixed Rate Demand Revenue Bonds, Series 1994 (Chicago Symphony Orchestra Project), and (iv) pay certain costs relating to letters of credit and costs of issuance. Schedule K, Supplemental Information: Part I, Line B, Column (f): The Bonds were issued to currently refund the $50,000,000 original aggregate principal amount Illinois Development Finance Authority Variable/Fixed Rate Demand Revenue Bonds, Series 1994 (Chicago Symphony Orchestra Project) (the Series 1994 Bonds). The Series 1994 Bonds were issued on June 23, 1994. The Series 1994 Bonds were issued to (i) finance or reimburse a portion of the costs of facilities of the Symphony ( the Prior Project), (ii) refinance a loan made from The Northern Trust Company to the Symphony for the purpose of paying the costs of a feasibility study relating to the Prior Project and funding an earnest money deposit relating to the acquisition of certain real estate on which a portion of the Prior Project is now located, (iii) refinance a loan made from The Northern Trust Company and The Sanwa Bank, Limited, acting through its Chicago branch, to the Symphony for the purpose of paying the costs of the acquisition of real estate (including buildings located thereon) on which a portion of the Prior Project is now located, (iv) finance the payment of a portion of the interest on the Series 1994 Bonds during the period of completion of the Prior Project, (v) pay certain costs relating to the issuance and maintenance of a credit facility during the period of completion of the Prior Project and (vi) pay certain costs relating to the issuance of the Series 1994 Bonds. X 75 2193013 FMV - Stock gifts X Airfare Miles 1 295245 Fair Market Value X Cough Drops 1 20088 Fair Market Value 0 0 1 0 Part I, Column (b): Line 9: The number of contributions for the Securities - publicly traded is the number of stock gifts received, not the number of donors or shares contributed. Form 990, Part VI, Section A, line 2 Business Relationship 1: Jay L. Henderson, E. Scott Santi Business Relationship 2: Richard C. Godfrey, Keith S. Crow Business Relationship 3: Debora de Hoyos, Britt Miller, John R. Schmidt Business Relationship 4: Jay L. Henderson, Susan C. Levy Business Relationship 5: Debra A. Cafaro, Scott C. Swanson Business Relationship 6: Gerald L. Pauling II, Burton X. Rosenberg Business Relationship 7: Walter Carlson (spouse of Debora de Hoyos) Charles W. Douglas, R. Eden Martin Form 990, Part VI, Section A, line 4 In June 2022, the Bylaws of the CSOA were amended with regard to the Trustee term limits and Life Trustee status. Going forward, Trustees will serve three-year terms without any maximum term limit. Also, rather than be nominated for Life Trustee status after completing four terms, the Committee will instead nominate only those Trustees who have served on the Board for at least 12 years and meet one or more existing qualifications outlined in the Bylaws, demonstrating exemplary service to the CSOA. Life Trustees will retain their full voting power and the full financial expectations of Trustees. Current Life Trustees may be offered to be reinstated as Trustees, along with all accompanying powers and financial expectations, or they may be grandfathered into any new policy. Form 990, Part VI, Section A, line 6 The members of the Chicago Symphony Orchestra (the "Corporation") are designated as Governing Members. Governing Members are elected from among persons who have demonstrated a significant interest in the CSO and who meet such additional criteria as the Board of Trustees may from time to time determine. Form 990, Part VI, Section A, line 7a Governing Members ratify the election of Governing Members and, at each Annual Meeting, the fully ratified Governing Members elect Regular and Life Trustees. Form 990, Part VI, Section B, line 11b The governing body receives a copy of the 990 without the inclusion of the Schedule A "Identification of Excess Contributions or the names and addresses of contributors listed in Part I of Schedule B, "Schedule of Contributors". The CSO's tax advisor, RSM, prepares the Form 990 using the audited financial statements and supporting schedules prepared by CSO staff. Staff and the tax advisor discuss and review the entire Form 990 and Form 990-T with members of the CSO Audit Committee, who review and accept it before it is filed as set forth in the Committee Authority and Responsibility section of the Audit Committee charter. The 2022 Form 990 and Form 990-T were reviewed and approved at the April 30, 2024 meeting of the Audit Committee. Form 990, Part VI, Section B, line 12c The CSO maintains a Conflict of Interest Policy that applies to all trustees, the Executive Committees of certain auxiliary operations operating under the CSO's bylaws, senior management and other designated staff members, and non-trustee members of Trustee committees. The Policy requires each person to whom the policy applies to complete an annual disclosure questionnaire that discloses any business or financial interest, which might reasonably be expected to give rise to a possible conflict between the interest of the CSO and the interest of such person. To the extent that the required disclosure questionnaire cannot be obtained after multiple attempts, alternative procedures are completed by staff and the Audit Committee to reasonably conclude whether any conflicts exist. The Policy forbids such individuals from voting on or using their personal influence in connection with such business or financial issues. In the event the CSO does conduct business with a related party, the financial terms of those relationships are reported annually to the Audit Committee, whose members are independent per the terms of its charter. The CSO requires each non-union employee to conduct themselves in accordance with the code of Business Conduct and Ethics, approved by the Board of Trustees, and to sign an annual statement acknowledging their understanding of and compliance with the Code. Form 990, Part VI, Section B, line 15 The process for determining the compensation of the President included a meeting on March 30, 2023, of the Human Resources Committee, which was comprised of five independent trustees and two non-trustees. The Committee reviewed the compensation arrangements and peer benchmark data based on size of budget and scope of management responsibility. Published compensation surveys for non-profit organizations were also reviewed. Recommendations were made to the Committee and accepted, and the deliberations of the Committee were documented in the minutes of the meeting. The process for determining the compensation of other officers or key employees included a meeting on March 30, 2023, of the Human Resources Committee, which was comprised of five independent trustees and two non-trustees. The Committee reviewed the compensation arrangements and peer benchmark data based on size of budget and scope of management responsibility. Published compensation surveys for non-profit organizations were also reviewed. Recommendations were made to the Committee and accepted, and the deliberations of the Committee were documented in the minutes of the meeting. Form 990, Part VI, Section C, line 19 Financial statements, governing documents and conflict of interest policy are available to the public upon request pursuant to the guidelines of Section 6104(d). Form 990, Part XI, line 9: Interest rate swap fair value adjustments 4,983,294. Changes in pension plan assets and benefit obligations 4,654,171.