2022-02-23T10:41:27-06:00 2021-06-30 420714325 RSM US LLP 30 S Wacker Drive Suite 3300 Chicago IL 60606 990 2020-07-01 363930153 Music and Dance Theater Chicago Inc MUSI 3123347777 205 East Randolph Drive Chicago IL 60601 Lori Dimun President and CEO 3123347777 2022-02-17 1 Lori Dimun 999009999 Rebekuh Eley P01247672 3126343400 2022-02-17 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z Harris Theater for Music and Dance Lori Dimun 205 East Randolph Drive Chicago IL 60601 7247679 0 X www. HarrisTheaterChicago.org X 1993 IL See Schedule O 31 30 133 30 0 0 4994120 2760989 1446070 53903 246757 401329 633619 431416 7320566 3647637 0 0 0 0 2867372 1881278 0 0 398250 6162473 3987913 9029845 5869191 -1709279 -2221554 61473850 64627652 21864359 22448454 39609491 42179198 X See Schedule O 0 0 3189830 48689 Championing Chicago Artists The Harris is home to 25+ emerging and established Resident Companies that reflect an array of artistic and cultural genres. These organizations build upon marketing and production support, professional development, capacity building opportunities, and reduced rental costs provided by the Harris to collaborate through a one-of-a-kind network and present self-produced performances on the Harris stage.In the 2020-21 season, the Harris expanded its support offerings for Resident Companies and local artists to meet their greatest needs during the COVID-19 pandemic. The Harris has provided 85 days of underwritten rehearsal space at no cost to local artists and over $250,600 in waived rental fees and production grants to Resident Companies. 1166759 Generating Lasting Community Impact The arts are one of the greatest tools for creating shared experience and a passion for lifelong education. The Harris leverages its reputation as a world-class venue and its access to the world's leading artists to facilitate masterclasses for aspiring artists, host enrichment activities for all ages, provide hands-on experience through robust student and early professional internships, and engage in career pathway conversations with local teen service organizations.22 local organizations across the health and human services, social services, and education sectors partner with the Harris to participate in educational activities and distribute free performance tickets through the Theater's Access Tickets program, ensuring that Chicago residents of all ages, communities, and abilities may experience deep engagement with the arts. In 2020-21, the Harris held 6 artist panels, 3 family activities, and 2 masterclasses on virtual platforms reaching 442 community members. 574545 5214 Presenting Diverse VoicesAs one of the nation's leading presenters of music and dance, companies from Chicago are showcased alongside artists and ensembles from throughout the U.S. and around the globe. 32 countries and 6 continents have been represented on the Theater's stage, expanding cross-cultural understanding, celebrating the authenticity of story and voice, and respect for diversity.During the 2020-21 season, the Theater collaborated with seven internationally renowned music and dance companies to present their work on the HT Virtual Stage. Highlights included Jacob Jonas the Company's ambitious Films.Dance project; composer, flutist, and vocalist Nathalie Joachim; a new program from Spektral Quartet; London-based Akram Khan Company; and continued partnerships with Lyric Opera and the Chamber Music Society of Lincoln Center. 4931134 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 46 0 1 133 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 31 30 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X Laura Hanssel 3123347777 205 East Randolph Drive Chicago IL 60601 Ms Laura Hanssel CFO 40.00 X 174752 0 36319 Ms Lori Dimun President & CEO 40.00 X X 187632 0 8051 Ms Elizabeth Halajian Assistant Secretary 40.00 X 99048 0 12565 Ms Caryn Harris Vice Chair 5.00 X X 0 0 0 Ms Merrillyn J Kosier Executive Vice Chair and Treasurer 5.00 X X 0 0 0 Ms Claire O'Grady Secretary 5.00 X X 0 0 0 Mr David Snyder Chairman 10.00 X X 0 0 0 Mr Peter M Ellis Executive Committee Member at Large 5.00 X 0 0 0 Ms Sara Albrecht Trustee 1.00 X 0 0 0 Ms Pamela Baker Trustee (ex-officio) 1.00 X 0 0 0 Mr John L Brennan Trustee 1.00 X 0 0 0 Ms Louise B Frank Trustee 1.00 X 0 0 0 Mr Robert J Gauch Jr Trustee 1.00 X 0 0 0 Ms Sandra P Guthman Trustee 1.00 X 0 0 0 Ms Joan W Harris Trustee 1.00 X 0 0 0 Ms Christine N Evans Kelly Trustee 1.00 X 0 0 0 Ms Deborah A Korompilas Trustee 1.00 X 0 0 0 Mr Michael McStraw Trustee (ex-officio) 1.00 X 0 0 0 Mr Zarin Mehta Trustee (until 4/23/2021) 1.00 X 0 0 0 Ms Sarah Solotaroff Mirkin Trustee 1.00 X 0 0 0 Ms Alexandra C Nichols Trustee 1.00 X 0 0 0 Mr Kenneth R Norgan Trustee 1.00 X 0 0 0 Mr Gregory J O'Leary Trustee 1.00 X 0 0 0 Ms Abby McCormick O'Neil Trustee 1.00 X 0 0 0 Mr Dan Plehal Trustee (ex-officio) 1.00 X 0 0 0 Mr Scott Rafferty Trustee 1.00 X 0 0 0 Ms Nancy Santi Trustee 1.00 X 0 0 0 Ms Shannon L Schuyler Trustee 1.00 X 0 0 0 Mr Jai Shekhawat Trustee 1.00 X 0 0 0 Mr John Q Smith Trustee 1.00 X 0 0 0 Ms Sue Stark Trustee 1.00 X 0 0 0 Ms Sunitha Thomas Trustee 1.00 X 0 0 0 Ms Marilyn Fatt Vitale Trustee 1.00 X 0 0 0 Ms Dori Wilson Trustee (until 2/1/2021) 1.00 X 0 0 0 Ms Maria Zec Trustee 1.00 X 0 0 0 461432 0 56935 2 0 1 0 Opus 3 Artists LLC 470 Park Avenue South New York NY 10016 Artists Fee 806000 1 677000 2083989 2760989 Usage Fees 711190 48689 48689 Theater Box Office 711190 5214 5214 53903 488006 488006 431416 0 431416 431416 431416 3513365 3600042 -86677 -86677 -86677 3647637 53903 0 832745 518367 362710 79605 76052 1123144 763685 184864 174595 44575 30309 7337 6929 86053 76641 4049 5363 109139 74209 17964 16966 12238 12238 96851 96851 312287 278131 14694 19462 266931 237735 12560 16636 222646 198294 10476 13876 285452 285452 3619 3223 170 226 722 643 34 45 532274 474057 58217 1629661 1622090 3410 4161 231921 181881 22538 27502 Repairs & Maintenance 254438 229522 8855 16061 Due and Subscriptions 26059 23209 1226 1624 Bad Debt Expense 12500 12500 100314 89343 4719 6252 5869191 4931134 539807 398250 1419064 2578094 18838 2032131 2356001 974906 64929 21316 46628 51750 60882981 25831215 36537318 35051766 17263898 19594677 3596690 3650067 170484 672945 61473850 64627652 312805 362930 452540 485457 20000000 20000000 527000 712677 572014 887390 21864359 22448454 X 28408303 31224580 11201188 10954618 39609491 42179198 61473850 64627652 X -2221554 3996120 795141 X 0 1 X 1 0 X 1638923 3689053 2313660 4994120 2760989 15396745 1638923 3689053 2313660 4994120 2760989 15396745 5404452 9992293 975091 1012459 1370841 1248812 919422 5526625 5377 1590 6967 20930337 10101793 0.47740 0.52150 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5500000 956841 956841 5500000 5500000 25752 25752 5500000 5500000 242057 242057 5500000 5500000 186322 186322 5500000 5500000 520065 520065 5500000 0.00000 1.00000 0.00000 1 0 58394919 23474827 34920092 2488062 2356388 131674 35051766 Investment in Limited Liability Company 3650067 F 3650067 Fair Value of Swap Agreement 303873 Lease Liability 583517 887390 X 8209075 3996120 38318 527000 4561438 3647637 0 3647637 5907509 38318 38318 5869191 0 5869191 Part V, Line 4: The intended use of the organization's endowment funds is for general operating costs. Part X, Line 2: The Theater is a not-for-profit corporation as described in Section 501(c)(3) of the Internal Revenue Code (the Code) and is exempt from income taxes on related income pursuant to Section 501(a) of the Code. The accounting standard on accounting for uncertainty in income taxes 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 Theater 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 Theater, the continued tax-exempt status of the bond issued by the Theater, 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 guidance on accounting for uncertainty in income taxes also addresses de-recognition, classification, interest and penalties on income taxes and accounting in interim periods. At June 30, 2021 and 2020, management has determined that there are no uncertain tax positions. The Theater files annual information returns in the U.S. federal jurisdiction and the state of Illinois. Part XI, Line 2d - Other Adjustments: Gain on Extinguishment of Debt 527,000. X X X X 0 0 0 0 0 0 0 0 0 Ms Laura Hanssel CFO 174752 0 0 0 0 0 3538 0 32781 0 211071 0 0 0 Ms Lori Dimun President & CEO 187632 0 0 0 0 0 2933 0 5118 0 195683 0 0 0 A Illinois Finance Authority 861091967 45200BLT3 2005-05-11 20000000 Refinance of construction loan payable 0 0 0 A 20000000 371884 19628116 2005 0 0 1 1 A 0 0 0 0 1 0 0 A 0 0 0 0 1 0 0 0 0 A 0 Form 990, Part I, Line 1 and 3: Description of Organization's Mission: The mission of the Joan W. and Irving B. Harris Theater is to be Chicago's primary residence for music and dance, connecting diverse audiences with outstanding artists from across the city, the nation, and the world. Founded by a dedicated group of civic leaders and community foundations, the Joan W. and Irving B. Harris Theater for Music and Dance opened in November 2003 and was the first multi-use performance venue built in Chicago since 1929. Today, the Harris provides the most robust and diverse arts and cultural offerings of any venue in the Midwest. The Theater's mission is delivered through three intersecting strategies: curating a presenting series designed to offer an engaging array of genres and styles, collaborating with local companies who consider the Harris their Chicago performance home, and providing educational and accessible opportunities for everyone. In the 2020-2021 season, in accordance with federal and state public safety guidelines due to COVID-19, the Harris adapted its performance and community engagement events to be hold virtually. The Theater streamed 45 digital productions and hosted 14 educational events online. The Theater's virtual season reached over 40,000 people in 38 countries. In collaboration with local artists and companies, the Harris provided free rehearsal space, production grants, and access to recording and streaming capabilities. Form 990, Part VI, Section A, line 2 Joan W. Harris and Louise Frank have a family relationship. Form 990, Part VI, Section A, line 4 During the 2021 fiscal year, one amendment was made to the Music and Dance Theater, Inc. Board of Trustees Bylaws. During the May 12, 2021 meeting, section 4.2 of the bylaws was amended to read as follows (with the new language shown within parentheses): Section 4.2. Term of Office, Resignation, and Removal. The term of office of each Officer elected at an annual meeting shall commence on July 1 of that year. Each Officer shall hold office until a successor is elected and qualified or until the officer's earlier resignation or removal; provided, however, that no elected Trustee shall serve in the same office, other than the office of Vice Chair, for more than three consecutive one-year term (except that at the 2021 annual meeting the current Treasurer may be re-elected for an additional one-year term in light of the various challenges arising from the COVID-19 pandemic). No person shall serve as Vice Chair for more than six one-year terms unless he or she is currently serving as executive Vice Chair. Each shall hold office until a successor is elected and qualified or the officer's earlier death, resignation or removal. Any Officer may resign at any time by giving written notice to the Board of Trustees or to the Chair or the Secretary of the Corporation. Any Officer may be removed by the Board of Trustees at any time, with or without cause, by a majority of the Trustees present at a meeting of the board at which a quorum is present. Any such removal shall be without prejudice to the contract rights, if any, of the person so removed, but election to office shall not of itself create any contract rights. Form 990, Part VI, Section B, line 11b On September 30, 2021 the Board of Trustees of the Harris Theater approved a resolution that, with the Fiscal year ended June 30, 2021, gave the Audit Committee of the Board the authority to review the federal Form 990 and Illinois Form AG990-IL on the Board's behalf. The Audit committee of the Board of Trustees met with representatives of RSM US LLP, who prepared the Form 990 to conduct that review. The extent of that review included covering key issues. The complete Form 990 was then made available to all Board members who had ample time to review, ask question and/or suggest revisions before the Form 990 was filed with the IRS. Form 990, Part VI, Section B, line 12c Music and Dance Theater Chicago, Inc.'s ("MADTC") conflict of interest policy addresses transactions and arrangements involving MADTC's trustees, officers and any other managers or supervisors identified by the Board of Trustees or the President as exercising substantial influence over the operations of MADTC ("Covered Persons"). Each Covered Person upon becoming such shall prepare, sign and submit a Conflict of Interest Questionnaire. In addition, each Covered Person shall promptly and fully disclose all material facts of every actual or potential conflict of interest: (I) That arises while he/she is a Covered Person, at the time such actual or potential conflict arises; and; (II)Annually by preparing, signing and submitting a Conflict of Interest Questionnaire. All disclosures involving a transaction or arrangement being considered at a meeting of the Board of Trustees or of a board committee shall be made to all members present at such meeting. All other disclosures shall be made to the President (who shall disclose his or her conflicts to the Board of Trustees). A Covered Person who is in doubt as to the existence of a conflict of interest is encouraged to disclose all facts pertaining to the transaction or arrangement before undertaking the transaction or arrangement or making any decision in the matter. Each Covered Person shall sign a statement acknowledging that he or she has received a copy of this Policy, has read and understands it, and agrees to comply with it. If the Board of Trustees has reasonable cause to believe that a Covered Person has failed to comply with this Policy, the Board may counsel the Covered Person regarding such failure and, if the issue is not resolved to the Board's satisfaction, may consider additional corrective action as appropriate. Conflict of interest information is collected annually and throughout the year when new trustees come on. Form 990, Part VI, Section B, line 15 With respect to compensation of the CEO/Executive Director on an ongoing basis, post-hiring, the Board of Trustees has delegated overall responsibility for establishing such compensation to the Executive Committee. To carry out this assignment, the Executive Committee utilizes an ad hoc compensation sub-committee ("the compensation sub-committee"), consisting of former and current Board Chairs, along with board members bearing special expertise in the area of compensation, to review and determine the compensation of the CEO/Executive Director. To determine the compensation of the CEO/Executive Director, the compensation sub-committee has successfully employed a number of tools and resources, including without limitation, a review of compensation for similar positions at similar organizations, drawing upon data from Form 990's for such organizations; the compensation committee, as a matter of policy, retains the option of utilizing independent compensation consultants and compensation surveys or studies, when it determines that it is appropriate to supplement data from other resources. Each year, the compensation sub-committee reviews the compensation of the CEO/Executive Director in conjunction with the review of the performance of the CEO/Executive Director, including accomplishments, achievement of goals, and opportunities for improvement. After the completion of such review, the compensation sub-committee reports its findings and recommendations to the Executive Committee, which then determines the compensation of the CEO/Executive Director for the ensuing year. At the beginning of each fiscal year, the Board Chair reports to the Board of Trustees the actions taken by the Executive Committee. Form 990, Part VI, Section C, line 19 The Theater makes its governing documents, conflict of interest policy, and financial statements available to the public upon request for the same period of disclosure as set forth in section 6104(d). The Theater applies for numerous grants from foundations as well as governmental bodies and provides such documents in that application process. Web sites such as GuideStar also have relevant documents of the Theater. Form 990, Part XI, line 9: Change in Unrealized Gain on Swap Agreement 268,141. Gain on Extinguishment of Debt 527,000.