Chicago Symphony Orchestra FY2023 filing

Tax-deductible

Chicago, IL501(c)(3)Since 1890Arts & CultureEIN 36-2167823Revenue $80.8M in FY2023

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.
$4.2M 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

FY2023 · 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
$4.2M
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
1 mo
of spending, in cash
Fine: 1.2 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
$172.4M
33% of total assets
Looks good: liabilities are 33% of assets; 50% or less.
Pt X · Ln 26
Independent board members
129
of 130 voting members
Looks good: 129 of 130 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$80.8M
-21% vs prior year
Spent
$85.6M
To programs
77%
Net assets
$342.8M
By yearFY2020–FY2025
Revenue
$80.8M
FY2023▼ -21%
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
$85.6M
FY2023▲ +14%
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
$342.8M
FY2023▲ +4%
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 FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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% · $65.8M Management & general 18% · $15.4M Fundraising 5% · $4.4M

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

142 people listed on the 990; $4.2M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Music Director
$942,263Pt VII · Sec A
$741,177Pt VII · Sec A
Concertmaster
$536,137Pt VII · Sec A
Principal Horn
$329,091Pt VII · Sec A
VP for Development
$327,764Pt VII · Sec A
Principal Clarinet
$324,361Pt VII · Sec A
Principal Trumpet
$322,407Pt VII · Sec A
VP, CFO, & Assistant Treasurer
$317,423Pt 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 · $60.2M · in their own filed words · FY2022
01

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.

$53.2Mprogram expense
02

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…

$4.7Mprogram expense
03

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.

$2.4Mprogram 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 FY2023 990, line by line.

1The main four
Money inPt VIII
$80.8M
Ln 12
Fees for servicesLn 2g$29.3M
Investment incomeLn 3$27.1M
Gifts and grantsLn 1h$24.3M
Money outPt IX
$85.6M
Ln 25
Programscol B$65.8M
Managementcol C$15.4M
Fundraisingcol D$4.4M
Owns and owesPt X
$342.8M
net assets · Ln 32
Cash and savingsLn 1–2$8.7M
Total assetsLn 16$515.2M
LiabilitiesLn 26$172.4M
PeoplePt VI, VII
142
listed · VII A
PaidVII A10
Voting boardVI 1a130
IndependentVI 1b129
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$24.3M
Government grantsLn 1e$468K
Noncash giftsLn 1g$2.5M
Fundraising eventsLn 1c$790K
Fees for servicesLn 2g$29.3M
Investment incomeLn 3$27.1M
Other incomeLn 4–11$158K
Gains on assetsLn 7$20.4M
Total revenueLn 12$80.8M
Assets in detailPt X, end of year
CashLn 1$1.3M
SavingsLn 2$7.5M
Cash and savings togetherLn 1–2$8.7M
InvestmentsLn 11–13$401.4M
Land, buildings, equipmentLn 10c$73.0M
Other assetsLn 15$342K
Total assetsLn 16$515.2M
LiabilitiesLn 26$172.4M
Net assetsLn 32$342.8M
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 FY23End FY23
Cash and savingsLn 1–2$13.3M$8.7M
InvestmentsLn 11–13$405.2M$401.4M
Land, buildings, equipmentLn 10c$74.9M$73.0M
Total assetsLn 16$530.9M$515.2M
LiabilitiesLn 26$200.5M$172.4M
Net assetsLn 32$330.4M$342.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$2.1M$331K$1.4M$354K
Other salaries and wagesLn 7$39.8M$34.6M$3.2M$2.0M
Pension plan contributionsLn 8$2.3M$2.1M$108K$67K
Other employee benefitsLn 9$6.0M$4.8M$776K$421K
Payroll taxesLn 10$2.6M$2.1M$315K$162K
Legal feesLn 11b$608K$510K$98K−$126
Accounting feesLn 11c$173K$173K
Professional fundraising feesLn 11e$285K$285K
Investment management feesLn 11f$902K$902K
Other fees for servicesLn 11g$8.3M$7.1M$1.1M$23K
Advertising and promotionLn 12$3.9M$3.5M$211K$187K
Office expensesLn 13$794K$469K$206K$118K
Information technologyLn 14$511K$302K$133K$76K
OccupancyLn 16$2.7M$2.2M$244K$274K
TravelLn 17$2.2M$2.0M$102K$68K
Conferences, conventions and meetingsLn 19$48K$16K$651$31K
InterestLn 20$5.6M$5.6M
Depreciation, depletion and amortizationLn 22$3.8M$3.5M$260K
InsuranceLn 23$351K$351K
Other expenses (24a–d)Ln 24$2.3M$1.9M$164K$175K
All other expensesLn 24e$622K$338K$104K$181K
Total functional expensesLn 25$85.6M$65.8M$15.4M$4.4M

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 Viewing $80.8M$85.6M−$4.8M$342.8M 990 PDF
FY2022 $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 FY2023 990 (6 parts)
Part I · Summary $80,827,722 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $62,198,360$24,278,183
I-9 Program service revenuePrior year $20,795,204$29,251,034
I-10 Investment incomePrior year $19,509,067$27,140,395
I-11 Other revenuePrior year −$70,534$158,110
I-12 Total revenuePrior year $102,432,097$80,827,722
I-13 Grants and similar amounts paidPrior year $5,950$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $47,910,834$52,682,226
I-16a Professional fundraising feesPrior year $244,748$285,301
I-17 Other expensesPrior year $26,918,718$32,633,656
I-18 Total expensesPrior year $75,080,250$85,601,183
I-19 Revenue less expensesPrior year $27,351,847−$4,773,461
Part VI · Governance 129 of 130 board members independent, 1 to look at
VI-1a Voting members of the governing body130
VI-1b Independent voting members129
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 $80,827,722 across 11 lines filed
Lines not itemized here account for −$734,574 of total revenue; see the IRS return.
VIII-1c Fundraising events$789,536
VIII-1e Government grants$467,564
VIII-1f All other contributions, gifts and grants$23,021,083
VIII-1g Noncash contributions (included above)$2,508,346
VIII-1h Total contributions, gifts and grants$24,278,183
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $29,829,021 · Excluded from tax $420,000$30,249,021
VIII-3 Investment incomeExcluded from tax $6,778,186$6,778,186
VIII-6 Net rental income or lossUnrelated business −$160,585−$160,585
VIII-7 Net gain or loss on sales of assetsUnrelated business $802,409 · Excluded from tax $19,559,800$20,362,209
VIII-8 Net income from fundraising eventsExcluded from tax $55,282$55,282
VIII-12 Total revenueRelated to mission $30,142,518 · Unrelated business $912,010 · Excluded from tax $25,495,011$80,827,722
Part IX · Statement of functional expenses $85,601,183 across 21 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $331,179 · Management $1,380,943 · Fundraising $353,774$2,065,896
IX-7 Other salaries and wagesPrograms $34,585,819 · Management $3,206,758 · Fundraising $2,002,346$39,794,923
IX-8 Pension plan contributionsPrograms $2,131,383 · Management $107,876 · Fundraising $66,994$2,306,253
IX-9 Other employee benefitsPrograms $4,766,845 · Management $775,616 · Fundraising $420,686$5,963,147
IX-10 Payroll taxesPrograms $2,074,235 · Management $315,432 · Fundraising $162,340$2,552,007
IX-11b Legal feesPrograms $509,714 · Management $98,451 · Fundraising −$126$608,039
IX-11c Accounting feesManagement $172,963$172,963
IX-11e Professional fundraising feesFundraising $285,301$285,301
IX-11f Investment management feesManagement $901,811$901,811
IX-11g Other fees for servicesPrograms $7,132,386 · Management $1,104,535 · Fundraising $22,800$8,259,721
IX-12 Advertising and promotionPrograms $3,482,502 · Management $210,544 · Fundraising $186,934$3,879,980
IX-13 Office expensesPrograms $469,309 · Management $206,355 · Fundraising $118,426$794,090
IX-14 Information technologyPrograms $302,075 · Management $132,823 · Fundraising $76,226$511,124
IX-16 OccupancyPrograms $2,177,022 · Management $244,123 · Fundraising $274,103$2,695,248
IX-17 TravelPrograms $2,010,929 · Management $102,444 · Fundraising $67,572$2,180,945
IX-19 Conferences, conventions and meetingsPrograms $16,315 · Management $651 · Fundraising $30,545$47,511
IX-20 InterestManagement $5,578,320$5,578,320
IX-22 Depreciation, depletion and amortizationPrograms $3,512,757 · Management $260,181$3,772,938
IX-23 InsuranceManagement $350,631$350,631
IX-24 Other expenses (24a–d)Programs $1,920,044 · Management $163,768 · Fundraising $174,632$2,258,444
IX-24e All other expensesPrograms $337,586 · Management $103,693 · Fundraising $180,612$621,891
IX-25 Total functional expensesPrograms $65,760,100 · Management $15,417,918 · Fundraising $4,423,165$85,601,183
Part X · Balance sheet $515,186,651 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $386,930$1,254,402
X-2 Savings and temporary cash investmentsStart of year $12,925,325$7,452,604
X-3 Pledges and grants receivableStart of year $35,270,692$29,407,854
X-4 Accounts receivableStart of year $628,833$687,668
X-8 Inventories for sale or useStart of year $174,632$158,348
X-9 Prepaid expenses and deferred chargesStart of year $1,169,675$1,479,453
X-10c Land, buildings and equipment, netStart of year $74,868,263$72,968,106
X-11 Publicly traded securitiesStart of year $282,706,781$305,753,015
X-12 Other securitiesStart of year $122,511,913$95,683,693
X-15 Other assetsStart of year $247,112$341,508
X-16 Total assetsStart of year $530,890,156$515,186,651
X-17 Accounts payable and accrued expensesStart of year $8,573,875$6,992,382
X-19 Deferred revenueStart of year $10,667,578$11,250,118
X-20 Tax-exempt bond liabilitiesStart of year $134,133,966$119,373,380
X-25 Other liabilitiesStart of year $47,095,513$34,819,999
X-26 Total liabilitiesStart of year $200,470,932$172,435,879
X-27 Net assets without donor restrictionsStart of year $91,849,204$99,333,690
X-28 Net assets with donor restrictionsStart of year $238,570,020$243,417,082
X-32 Total net assets or fund balancesStart of year $330,419,224$342,750,772
X-33 Total liabilities and net assetsStart of year $530,890,156$515,186,651
Part XI · Reconciliation of net assets $342,750,772 net assets at year end
XI-1 Total revenue$80,827,722
XI-2 Total expenses$85,601,183
XI-3 Revenue less expenses−$4,773,461
XI-4 Net assets at start of year$330,419,224
XI-5 Net unrealized gains (losses) on investments$7,467,544
XI-9 Other changes in net assets$9,637,465
XI-10 Net assets at end of year$342,750,772

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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