Chicago Symphony Orchestra FY2022 filing

Tax-deductible

Chicago, IL501(c)(3)Since 1890Arts & CultureEIN 36-2167823Revenue $102.4M in FY2022

On file with the IRScso.org220 South Michigan Ave, 60604-2596 · Chicago, ILTax-exempt since Feb 1927Publicly supported charity — 170(b)(1)(A)(vi)

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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.

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
$3.4M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $26.1M a year · 25% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$3.4M
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
8
named funders · $72K
Looks good: 8 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$200.5M
38% of total assets
Looks good: liabilities are 38% of assets; 50% or less.
Pt X · Ln 26
Independent board members
126
of 127 voting members
Looks good: 126 of 127 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$102.4M
-7% vs prior year
Spent
$75.1M
To programs
77%
Net assets
$330.4M
By yearFY2020–FY2025
Revenue
$102.4M
FY2022▼ -7%
Tap a bar for its year
Revenue by fiscal year
FY2020$73.8M
FY2021$109.9M
FY2022$102.4M
FY2023$80.8M
FY2024$125.5M
FY2025$125.9M
Expenses
$75.1M
FY2022▲ +59%
Tap a bar for its year
Expenses by fiscal year
FY2020$76.3M
FY2021$47.2M
FY2022$75.1M
FY2023$85.6M
FY2024$88.6M
FY2025$88.9M
Net assets
$330.4M
FY2022▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2020$216.9M
FY2021$348.7M
FY2022$330.4M
FY2023$342.8M
FY2024$420.3M
FY2025$492.0M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1927.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $57.6M Management & general 18% · $13.8M Fundraising 5% · $3.8M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

146 people listed on the 990; $3.4M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Music Director
$952,263Pt VII · Sec A
$529,441Pt VII · Sec A
Concertmaster
$379,024Pt VII · Sec A
VP for Development
$265,794Pt VII · Sec A
Assistant Treasurer
$249,994Pt VII · Sec A
Principal Cello
$234,272Pt VII · Sec A
VP for Operations
$232,843Pt VII · Sec A
Principal Clarinet
$232,425Pt VII · Sec A

Jeff Alexander’s $914K as President is at the 64th percentile of top reported officer pay among 53 $100M+ arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Riccardo Muti—$628,175$942,263$952,263$1,115,293$1,350,014
Jeff Alexander$914,323$898,151$741,177$529,441$513,036$611,532
Robert Chen$554,827$566,546$536,137$379,024$358,007$470,314
Esteban Batallan Cons—$355,107$322,407$217,995——
Mark Almond$343,234—————
William Welter$339,617—————
Stephen Williamson$331,472$332,961$324,361$232,425$226,805$284,214
Dale Hedding$329,404$320,202$327,764$265,794$269,031$24,861

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Enriches lives globally through world-class orchestral performances, community engagement initiatives, and intensive training programs for young professional musicians.

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3 programs · $53.2M · in their own filed words · FY2021
01

Chicago Symphony Orchestra Concerts

During the 2021/22 Season, the Chicago Symphony Orchestra presented 38 weeks of concerts. Zell Music Director Riccardo Muti reunited with the Orchestra in September 2021 and conducted 13 programs at Symphony Center throughout the season, as well as free community concerts at Apostolic Church of God, Morton East High School and Millennium…

$47.7Mprogram expense
02

Symphony Center Presents

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. Twenty-eight concerts were presented during the 2021/22 Season and featured established artistic leaders and rising stars.

$3.4Mprogram expense
03

Civic Orchestra of Chicago

The Civic Orchestra of Chicago, the CSO's prestigious training program for young professional musicians, presented seven full-orchestra concerts, including two at community venues. Led by Principal Conductor Ken-David Masur and guest conductors, Civic programs featured established masterpieces alongside works from historically…

$2.2Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 8 funders →
Grants paid · 1 grant · $6K · 2021–2021
Roosevelt UniversityIL · FY2021$5,950

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$102.4M
Ln 12
Gifts and grantsLn 1h$62.2M
Fees for servicesLn 2g$20.8M
Investment incomeLn 3$19.5M
Money outPt IX
$75.1M
Ln 25
Programscol B$57.6M
Managementcol C$13.8M
Fundraisingcol D$3.8M
Owns and owesPt X
$330.4M
net assets · Ln 32
Cash and savingsLn 1–2$13.3M
Total assetsLn 16$530.9M
LiabilitiesLn 26$200.5M
PeoplePt VI, VII
146
listed · VII A
PaidVII A11
Voting boardVI 1a127
IndependentVI 1b126
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$62.2M
Government grantsLn 1e$10.2M
Noncash giftsLn 1g$10.1M
Fundraising eventsLn 1c$1.7M
Fees for servicesLn 2g$20.8M
Investment incomeLn 3$19.5M
Gains on assetsLn 7$14.7M
Total revenueLn 12$102.4M
Assets in detailPt X, end of year
CashLn 1$387K
SavingsLn 2$12.9M
Cash and savings togetherLn 1–2$13.3M
InvestmentsLn 11–13$405.2M
Land, buildings, equipmentLn 10c$74.9M
Other assetsLn 15$247K
Total assetsLn 16$530.9M
LiabilitiesLn 26$200.5M
Net assetsLn 32$330.4M
OperationsPt I, VI
EmployeesI 51,141
VolunteersI 6819
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$6.5M$13.3M
InvestmentsLn 11–13$462.4M$405.2M
Land, buildings, equipmentLn 10c$78.0M$74.9M
Total assetsLn 16$576.7M$530.9M
LiabilitiesLn 26$228.0M$200.5M
Net assetsLn 32$348.7M$330.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$6K$6K
Pay of current officers, directors and key staffLn 5$1.9M$310K$1.2M$334K
Other salaries and wagesLn 7$35.4M$30.7M$2.9M$1.8M
Pension plan contributionsLn 8$2.6M$2.5M$101K$62K
Other employee benefitsLn 9$5.5M$4.4M$653K$365K
Payroll taxesLn 10$2.6M$2.1M$305K$155K
Legal feesLn 11b$264K$194K$66K$3K
Accounting feesLn 11c$153K$153K
Professional fundraising feesLn 11e$245K$245K
Investment management feesLn 11f$1.0M$1.0M
Other fees for servicesLn 11g$6.8M$5.7M$1.1M$23K
Advertising and promotionLn 12$3.6M$3.2M$171K$155K
Office expensesLn 13$570K$298K$168K$104K
Information technologyLn 14$535K$279K$158K$97K
OccupancyLn 16$2.8M$2.3M$243K$275K
TravelLn 17$265K$209K$46K$10K
Conferences, conventions and meetingsLn 19$45K$9K$167$36K
InterestLn 20$4.6M$4.6M
Depreciation, depletion and amortizationLn 22$3.7M$3.5M$271K
InsuranceLn 23$316K$316K
Other expenses (24a–d)Ln 24$1.7M$1.6M$119K$48K
All other expensesLn 24e$488K$240K$189K$58K
Total functional expensesLn 25$75.1M$57.6M$13.8M$3.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $125.9M$88.9M$37.0M$492.0M 990 PDF
FY2024 $125.5M$88.6M$36.8M$420.3M 990 PDF
FY2023 $80.8M$85.6M−$4.8M$342.8M 990 PDF
FY2022 Viewing $102.4M$75.1M$27.4M$330.4M 990 PDF
FY2021 $109.9M$47.2M$62.7M$348.7M 990 PDF
FY2020 $73.8M$76.3M−$2.4M$216.9M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $102,432,097 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $49,216,933$62,198,360
I-9 Program service revenuePrior year $823,352$20,795,204
I-10 Investment incomePrior year $59,759,121$19,509,067
I-11 Other revenuePrior year $106,129−$70,534
I-12 Total revenuePrior year $109,905,535$102,432,097
I-13 Grants and similar amounts paidPrior year $0$5,950
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $29,500,366$47,910,834
I-16a Professional fundraising feesPrior year $309,783$244,748
I-17 Other expensesPrior year $17,395,293$26,918,718
I-18 Total expensesPrior year $47,205,442$75,080,250
I-19 Revenue less expensesPrior year $62,700,093$27,351,847
Part VI · Governance 126 of 127 board members independent, 1 to look at
VI-1a Voting members of the governing body127
VI-1b Independent voting members126
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $102,432,097 across 11 lines filed
Lines not itemized here account for $329,323 of total revenue; see the IRS return.
VIII-1c Fundraising events$1,655,857
VIII-1e Government grants$10,157,450
VIII-1f All other contributions, gifts and grants$50,385,053
VIII-1g Noncash contributions (included above)$10,110,155
VIII-1h Total contributions, gifts and grants$62,198,360
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $20,309,713 · Excluded from tax $357,500$20,667,213
VIII-3 Investment incomeExcluded from tax $4,774,794$4,774,794
VIII-6 Net rental income or lossUnrelated business −$241,058−$241,058
VIII-7 Net gain or loss on sales of assetsUnrelated business $246,423 · Excluded from tax $14,487,850$14,734,273
VIII-8 Net income from fundraising eventsExcluded from tax −$30,808−$30,808
VIII-12 Total revenueRelated to mission $20,549,800 · Unrelated business $221,410 · Excluded from tax $19,462,527$102,432,097
Part IX · Statement of functional expenses $75,080,250 across 22 lines filed
IX-1 Grants to domestic organizationsPrograms $5,950$5,950
IX-5 Pay of current officers, directors and key staffPrograms $310,065 · Management $1,206,947 · Fundraising $333,614$1,850,626
IX-7 Other salaries and wagesPrograms $30,712,860 · Management $2,882,286 · Fundraising $1,787,149$35,382,295
IX-8 Pension plan contributionsPrograms $2,475,363 · Management $100,755 · Fundraising $62,151$2,638,269
IX-9 Other employee benefitsPrograms $4,443,177 · Management $652,677 · Fundraising $365,197$5,461,051
IX-10 Payroll taxesPrograms $2,118,931 · Management $305,160 · Fundraising $154,502$2,578,593
IX-11b Legal feesPrograms $193,976 · Management $66,494 · Fundraising $3,097$263,567
IX-11c Accounting feesManagement $153,188$153,188
IX-11e Professional fundraising feesFundraising $244,748$244,748
IX-11f Investment management feesManagement $1,018,441$1,018,441
IX-11g Other fees for servicesPrograms $5,662,950 · Management $1,072,135 · Fundraising $22,823$6,757,908
IX-12 Advertising and promotionPrograms $3,245,643 · Management $171,174 · Fundraising $155,066$3,571,883
IX-13 Office expensesPrograms $298,234 · Management $168,200 · Fundraising $104,027$570,461
IX-14 Information technologyPrograms $279,451 · Management $157,607 · Fundraising $97,475$534,533
IX-16 OccupancyPrograms $2,294,921 · Management $242,741 · Fundraising $274,533$2,812,195
IX-17 TravelPrograms $209,175 · Management $45,984 · Fundraising $10,301$265,460
IX-19 Conferences, conventions and meetingsPrograms $8,891 · Management $167 · Fundraising $36,142$45,200
IX-20 InterestManagement $4,634,031$4,634,031
IX-22 Depreciation, depletion and amortizationPrograms $3,470,687 · Management $270,618$3,741,305
IX-23 InsuranceManagement $316,396$316,396
IX-24 Other expenses (24a–d)Programs $1,579,624 · Management $118,992 · Fundraising $48,030$1,746,646
IX-24e All other expensesPrograms $240,276 · Management $189,221 · Fundraising $58,007$487,504
IX-25 Total functional expensesPrograms $57,550,174 · Management $13,773,214 · Fundraising $3,756,862$75,080,250
Part X · Balance sheet $530,890,156 assets, 21 lines filed
X-1 Cash, non-interest-bearingStart of year $720,231$386,930
X-2 Savings and temporary cash investmentsStart of year $5,736,354$12,925,325
X-3 Pledges and grants receivableStart of year $27,583,572$35,270,692
X-4 Accounts receivableStart of year $701,138$628,833
X-8 Inventories for sale or useStart of year $214,092$174,632
X-9 Prepaid expenses and deferred chargesStart of year $1,118,139$1,169,675
X-10c Land, buildings and equipment, netStart of year $78,004,138$74,868,263
X-11 Publicly traded securitiesStart of year $337,162,823$282,706,781
X-12 Other securitiesStart of year $125,201,311$122,511,913
X-15 Other assetsStart of year $258,325$247,112
X-16 Total assetsStart of year $576,700,123$530,890,156
X-17 Accounts payable and accrued expensesStart of year $14,187,971$8,573,875
X-19 Deferred revenueStart of year $1,157,560$10,667,578
X-20 Tax-exempt bond liabilitiesStart of year $136,394,553$134,133,966
X-24 Unsecured notes and loans payableStart of year $1,000,000$0
X-25 Other liabilitiesStart of year $75,305,194$47,095,513
X-26 Total liabilitiesStart of year $228,045,278$200,470,932
X-27 Net assets without donor restrictionsStart of year $109,369,054$91,849,204
X-28 Net assets with donor restrictionsStart of year $239,285,791$238,570,020
X-32 Total net assets or fund balancesStart of year $348,654,845$330,419,224
X-33 Total liabilities and net assetsStart of year $576,700,123$530,890,156
Part XI · Reconciliation of net assets $330,419,224 net assets at year end
XI-1 Total revenue$102,432,097
XI-2 Total expenses$75,080,250
XI-3 Revenue less expenses$27,351,847
XI-4 Net assets at start of year$348,654,845
XI-5 Net unrealized gains (losses) on investments−$72,725,291
XI-9 Other changes in net assets$27,137,823
XI-10 Net assets at end of year$330,419,224

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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