2023-07-17T22:30:08+00:00 2022-08-31 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2021-09-01 351812636 INDIANAPOLIS SYMPHONY ORCHESTRA FOUNDATION INC INDI 3172621100 32 EAST WASHINGTON STREET 600 INDIANAPOLIS IN 462042919 JENNIFER JANIK CFO 2023-07-17 true JILL MARGETTS 999009999 Jennifer Burke P01342224 3128997000 2021 2023-04-26 12:10:37Z Jill Margetts 32 EAST WASHINGTON STREET 600 INDIANAPOLIS IN 462042919 22777046 false X N/A X 1990 IN THE INDIANAPOLIS SYMPHONY ORCHESTRA FOUNDATION, INC. (THE "ISO FOUNDATION") WAS FORMED IN SEPTEMBER 1990 FOR THE PURPOSE OF EDUCATING THE PUBLIC AND PROVIDING FINANCIAL AND OTHER SUPPORT TO THE INDIANA SYMPHONY SOCIETY, INC. (THE "SOCIETY"), AN INDIANA NOT-FOR-PROFIT CORPORATION THAT OPERATES THE INDIANAPOLIS SYMPHONY ORCHESTRA. IT IS THE GENERAL PRACTICE OF THE SOCIETY TO TRANSFER CONTRIBUTIONS RAISED, OTHER THAN ANNUAL FUND CONTRIBUTIONS, TO THE ISO FOUNDATION UNLESS A DONOR SPECIFICALLY REQUIRES THE CONTRIBUTION TO BE MAINTAINED BY THE SOCIETY. ALL FUNDRAISING EXPENSES ARE RECORDED AND REPORTED IN THE SOCIETY'S ACCOUNTS. 8 8 0 8 440339 0 294518 182277 1250000 1250000 8954275 8142825 36015 27795 10534808 9602897 5737047 5880307 0 0 0 0 2058692 2277147 7795739 8157454 2739069 1445443 120040413 117619288 11299 55324 120029114 117563964 THE INDIANAPOLIS SYMPHONY ORCHESTRA FOUNDATION, INC. (THE "ISO FOUNDATION") WAS FORMED IN SEPTEMBER 1990 FOR THE PURPOSE OF EDUCATING THE PUBLIC AND PROVIDING FINANCIAL AND OTHER SUPPORT TO THE INDIANA SYMPHONY SOCIETY, INC. (THE "SOCIETY"), AN INDIANA NOT-FOR-PROFIT CORPORATION THAT OPERATES THE INDIANAPOLIS SYMPHONY ORCHESTRA. IT IS THE GENERAL PRACTICE OF THE SOCIETY TO TRANSFER CONTRIBUTIONS RAISED, OTHER THAN ANNUAL FUND CONTRIBUTIONS, TO THE ISO FOUNDATION UNLESS A DONOR SPECIFICALLY REQUIRES THE CONTRIBUTION TO BE MAINTAINED BY THE SOCIETY. ALL FUNDRAISING EXPENSES ARE RECORDED AND REPORTED IN THE SOCIETY'S ACCOUNTS. false false 6201932 5880307 1250000 PROVIDE SUPPORT TO INDIANA SYMPHONY SOCIETY, INC. 6201932 true true false false false false false false true true true false false false true true false false false true false false false false false false true false false false false false false false false false false false false false false false true false false false true 3 0 true 0 true true false false false false false false false false false false false X 8 8 false true false false false false false true true false false true true true true true true false false false IN X X Jennifer Janik 3172621100 32 EAST WASHINGTON STREET NO 600 INDIANAPOLIS IN 462042919 X JILL MARGETTS TREASURER 2.0 X X 0 0 0 JOHN R THORNBURGH CHAIR 2.0 X X 0 0 0 ROBERT D RAMSEY SECRETARY 2.0 X X 0 0 0 MARK MUTZ DIRECTOR 2.0 X 0 0 0 MARTHA LAMKIN DIRECTOR 2.0 X 0 0 0 SCOTT DAVIS DIRECTOR 2.0 X 0 0 0 SUSAN RIDLEN DIRECTOR 2.0 X 0 0 0 TOM GREIN DIRECTOR 2.0 X 0 0 0 0 0 0 0 false false false FA Wilhelm Construction 3914 Prospect Street Indianapolis IN 46203 Construction 214370 CAMBRIDGE ASSOCIATES LLC 125 HIGH STREET BOSTON MA 02110 INVESTMENT ADVISOR 168750 2 182277 182277 RENT - HILBERT CIRCLE THEATRE 531000 850000 850000 RENT - SYMPHONY CENTRE 531000 400000 400000 0 0 0 0 1250000 1779195 440339 1338856 0 0 19536642 1137 13173502 647 6363140 490 6363630 6363630 ANNUITIES EARNINGS 900099 27795 27795 0 0 0 0 27795 9602897 1250000 440339 7730281 5880307 5880307 23350 23350 17850 17850 1851055 1851055 50000 0 50000 0 72 72 321625 321625 MISCELLANEOUS 13195 13195 0 0 0 0 8157454 6201932 1955522 0 74040 12084 1531634 2583294 1839648 1941655 0 1000 0 0 0 0 18750 0 10902466 7528235 3476731 3374231 25912820 20516082 86184403 88162461 0 1002387 1028481 120040413 117619288 11299 55324 0 0 0 0 11299 55324 X 74566987 72183062 45462127 45380902 120029114 117563964 120040413 117619288 X 1445443 -3908688 -1905 X false true X true false X X 1 INDIANA SYMPHONY SOCIETY INC 350998627 7 true 5880307 0 1 5880307 0 true false false false false false false false false false false false false false false true true true X true true Schedule A, Part IV, Section D, Line 3 Supp. Org. Have Significant Voice In Investment Policies The Society has a significant voice in the Foundation's investment policies and in directing the use of the Foundation's income and assets. First, according to the Amended and Restated Articles of Incorporation of the Foundation, the incumbent Chairperson of the Society shall be an ex-officio, non-voting Director of the Foundation. Second, the Amended and Restated Code of Bylaws of the Foundation provide that the members of the Board of Directors of the Foundation are to be chosen with the intent that (a) the Officers and Directors of the Foundation will maintain a close and continuous working relationship with the Officers and Directors of the Society; and (b) the Officers and Directors of the Foundation shall consider recommendations of the Officers or Directors of the Society regarding the investment policies of the Foundation, the timing of distributions from the Foundation to the Society, the manner in which such distributions are made, and in otherwise directing the use of the income and assets of the Foundation. Schedule A, Part IV, Section E, Line 2a Org. Activities Directly Further The Exempt Purposes THE INDIANA SYMPHONY SOCIETY, INC. (SOCIETY) IS THE SUPPORTED ORGANIZATION FOR THE FOUNDATION. THE MAIN ACTIVITY OF THE FOUNDATION IS TO MANAGE THE INVESTMENTS, INCLUDING REAL ESTATE, THAT DERIVED FROM CONTRIBUTIONS THAT WERE LONG TERM IN NATURE. THIS ACTIVITY FURTHERS THE EXEMPT PURPOSE OF THE SOCIETY BY ALLOWING THE FOUNDATION TO PROVIDE FUNDING TO THE SOCIETY TO COVER EXPENSES RELATED TO ITS EXEMPT PURPOSE. THE FOUNDATION IS RESPONSIVE TO THE SOCIETY AS IT PROVIDES AN OPERATING GRANT EACH YEAR AND IT IS WILLING TO HEAR REQUESTS FROM THE SOCIETY FOR SPECIAL GRANTS WHEN THE NEEDS ARISE THAT ARE IN ADDITION TO THE YEARLY OPERATING GRANT. THE FOUNDATION WILL DECIDE WHETHER TO APPROVE OR DENY THE REQUEST BY THE SOCIETY ON A CASE BY CASE BASIS. THE FOUNDATION HAS DETERMINED THAT MANAGING THE INVESTMENTS , INCLUDING REAL ESTATE IS SUBSTANTIALLY ALL OF ITS ACTIVITIES BECAUSE IT MAKES UP 95% OF ITS ASSETS. Schedule A, Part IV, Section E, Line 2b Activities That One Or More Supp. Org. Engaged In IF THE FOUNDATION DID NOT EXIST, THE ACTIVITIES DESCRIBED FOR LINE 2A, WOULD STILL HAVE TO BE DONE AS IT WOULD NOT BE PRUDENT TO LEAVE OVER $100 MILLION OF INVESTMENTS AND $3 MILLION OF REAL ESTATE UNMANAGED. THEREFORE, IF THE FOUNDATION DID NOT ENGAGE IN THIS ACTIVITY, THE SOCIETY WOULD NEED TO MANAGE THEM ITSELF. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 41370959 1550 422930 624406 41171033 37571663 55998 3743298 41370959 36728701 501000 848185 506223 37571663 36437597 501000 282415 492311 36728701 35646389 111000 1103191 422983 36437597 0.0 0.819 0.181 false false 600000 600000 10083341 7520931 2562410 219125 7304 211821 3374231 INVESTMENT PARTNERSHIPS AND PRIVATE EQUITY FUNDS 88162461 F 88162461 0 X 3841249 -3908688 -1905 -3910593 7751842 1851055 0 1851055 9602897 6306399 0 0 6306399 1851055 0 1851055 8157454 Schedule D, Part V, Line 4 Intended uses of endowment funds TO SUPPORT THE INDIANA SYMPHONY SOCIETY, INC. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The ISO Foundation is exempt from federal and state income taxes on related income under Section 501(c)(3) of the United States Internal Revenue Code and similar state law. Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the ISO Foundation and recognize a tax liability if the ISO Foundation has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by the ISO Foundation, and has concluded that as of August 31, 2022 and 2021, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying financial statements. The ISO Foundation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. As such, the ISO Foundation is generally exempt from income taxes. However, the ISO Foundation is required to file Federal Form 990 - Return of Organization Exempt from Income Tax and a corresponding state return, both of which are informational returns only. The ISO Foundation has filed its federal and state income tax returns for periods through August 31, 2021. These income tax returns are generally open to examination by the relevant taxing authorities for a period of three years from the later of the date the return was filed or its due date (including approved extensions). Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Change in NPV-Charitable Gift Annuity - -1905 Central America and the Caribbean 0 0 Investments NONE 56941167 Europe (Including Iceland and Greenland) 0 0 Investments None 7937938 0 0 0 0 0 0 64879105 0 64879105 true false true true true false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual true Indiana Symphony Society Inc 32 East Washington Street Suite 600 Indianapolis IN 46204 350998627 501(c)(3) 5880307 To Fund Operating Expenses, Rent, Education and Artistic Endeavors. 1 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. THE FOUNDATION HAS DIRECT ACCESS TO THE BOOKS OF THE INDIANA SYMPHONY SOCIETY, INC. Form 990, Part VI, Line 15a Process to establish compensation of Top management official THE FOUNDATION DOES NOT COMPENSATE ITS TOP MANAGEMENT OFFICIAL. THEREFORE, THIS QUESTION IS NOT APPLICABLE AND SHOULD BE ANSWERED NO PER THE INSTRUCTIONS. Form 990, Part VI, Line 15b Process for Determining Compensation of other officers THE FOUNDATION DOES NOT COMPENSATE ANY OTHER OFFICERS. THEREFORE, THIS QUESTION IS NOT APPLICABLE AND SHOULD BE ANSWERED NO PER THE INSTRUCTIONS. Form 990, Part VI, Line 3 Delegation of management duties BEGINNING IN 1995, THE ORGANIZATION ENTERED INTO A SERVICE AGREEMENT WITH THE INDIANA SYMPHONY SOCIETY, INC. (THE SOCIETY) WHEREBY THE SOCIETY PROVIDES THE ORGANIZATION CERTAIN MANAGEMENT SERVICES, INCLUDING ENDOWMENT FUNDRAISING, ADMINISTRATIVE SERVICES, PROVIDING OFFICE SPACE, AND PREPARING FINANCIAL RECORDS AND REPORTS. Form 990, Part VI, Line 11b Review of form 990 by governing body the foundation has its form 990 prepared by an outside accounting firm. it is then REVIEWED BY THE AUDIT COMMITTEE BEFORE DISTRIBUTION TO THE BOARD. A COPY OF THE 990 IS DISTRIBUTED TO ALL BOARD MEMBERS PRIOR TO FILING. Form 990, Part VI, Line 12c Conflict of interest policy THE FOUNDATION HAS ADOPTED THE CONFLICT OF INTEREST POLICY OF THE INDIANA SYMPHONY SOCIETY, INC. (THE SOCIETY). THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED ANNUALLY TO ALL BOARD MEMBERS AND MANAGEMENT WITH SPENDING AUTHORITY. EACH PERSON IS REQUIRED TO SIGN AND RETURN A FORM INDICATING THEY HAVE READ THE POLICY AND HAVE DISCLOSED ANY CONFLICTS OF INTEREST. THE AUDIT COMMITTEE OF THE SOCIETY HAS ULTIMATE RESPONSIBILITY FOR DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS AND WHETHER OR NOT TO PROCEED WITH DISCIPLINARY ACTION, INCLUDING DISMISSAL. Form 990, Part VI, Line 19 Required documents available to the public THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON VERBAL OR WRITTEN REQUEST. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN NPV - CHARITABLE GIFT ANNUITY - -1905; FORM 990, PART IV, LINES 13-14 WHISTLEBLOWER AND DOCUMENT RETENTION AND DESTRUCTION POLICIES THE FOUNDATION HAS ADOPTED THE WHISTLEBLOWER AND DOCUMENT RETENTION AND DESTRUCTION POLICIES OF THE INDIANA SYMPHONY SOCIETY, INC. (THE SOCIETY). INDIANA SYMPHONY SOCIETY INC 32 EAST WASHINGTON ST NO 600 INDIANAPOLIS IN 462042919 350998627 SYMPHONY OPERATIONS IN 501(c)(3) 7 NA false CHARITABLE REMAINDER TRUSTS (2) INVESTMENTS IN NA Trust false false true false true true false false false false true false false true true true true true true true