2014-05-08T11:31:15-05:00 2013-06-30 420714325 McGladrey LLP 1 S Wacker Drive Ste 800 Chicago IL 60606 990 2012-07-01 362167823 Chicago Symphony Orchestra CHIC 3122943333 220 S Michigan Avenue Chicago IL 606042559 Deborah F Rutter 3122943210 2014-05-08 Zack Fortsch P00052725 3126343400 2012 2015-11-30 17:44:51Z Deborah F Rutter 220 S Michigan Avenue Chicago IL 606042559 138516731 0 X www.cso.org X 1890 IL To present classical music to Chicago, national and international audiences. 145 133 1150 862 -221630 -295990 34854034 51315546 32058324 31623089 11093253 19458581 346012 88780 78351623 102485996 604506 670924 0 0 45248355 47181438 603652 629380 4354765 33599159 32224165 80055672 80705907 -1704049 21780089 436051982 473483741 220777276 207424758 215274706 266058983 X The central mission of the Chicago Symphony Orchestra Association is to present classical music through the Chicago Symphony Orchestra to Chicago, national and international audiences.The mission is supported by four mutually reinforcing elements:Artistic excellence: continued international preeminence in the field of orchestral excellenceAudience development: leading audience development initiativesEducation: superior education and community programsFinancial stability: fiscal responsibility for long-term stability 0 0 50242797 25285365 Chicago Symphony Orchestra Concerts -- During the 2012/13 season, the CSO presented 175 performances for more than 474,000 patrons. Three world premieres and four commissions were included in the repertoire. The CSO touring schedule included two concerts in Mexico, nine concerts across Asia, three concerts at Carnegie Hall in NY, and one concert each in Ann Arbor, MI, and Champaign, IL. The free Concert for Chicago led by Maestro Muti was held at Chicago's downtown Millennium Park for an audience of 7,000. The CSO piloted activities in DuPage County, selling more than 11,000 tickets for a four-day residency including concerts and family programs. Contracted by the Ravinia Festival Association for an annual summer residency at Ravinia Park, the CSO performed 22 concerts for more than 67,000 patrons. 5251862 3835818 Symphony Center Presents Concerts -- Symphony Center Presents is the CSO's guest artist series featuring well-known classical artists, as well as musicians from outside the classical genre, at Symphony Center. Approximately 50 concerts were presented during the fiscal year, selling more than 81,000 tickets to jazz, chamber music, orchestra, piano, and new music events. These concerts featured both established artistic leaders and up-and-coming musicians, and welcomed diverse audiences to hear a wide variety of musical styles. SCP programs include an Orchestra series, Chamber series, Piano series, and Jazz at Symphony Center. SCP Jazz is one of the most comprehensive and widely-heralded jazz series in the country, spotlighting some of the world's most famous jazz artists. 3855943 540385 Education Concerts and Activities -- The CSO's Institute for Learning, Access and Training conducts more than 20 annual programs sharing music's transformative power with youth, schools, teachers, families, seniors, and underserved populations. More than 100,000 children experienced music education and concert activities in 2012/13, and more than 600 teachers, musicians, teaching artists, and volunteers were trained to share music with students and communities. The Institute conducted over 450 in-school programs, including events in Chicago Public Schools and juvenile detention facilities. Free tickets and transportation was offered to traditionally underserved communities, and free concerts in schools, parks and community venues demonstrate the importance of music as a part of everyday life. 1927645 670924 59815 Civic Orchestra Concerts -- The Civic Orchestra of Chicago is the only pre-professional orchestra of its type associated with a major American orchestra. Preparing young musicians for success in today's diverse professional music landscape, the Civic offers world-class training in performance protocol under the guidance of some of the most prominent artistic leaders in the world, including CSO musicians, Yo-Yo Ma, and conductors and guest artists featured in the CSO season. During the 2012/13 season, the Civic Orchestra of Chicago reached a total of approximately 23,000 audience members through concerts at Symphony Center, community venues, neighborhood and school engagement events, and special public performances. The 2012/13 season marked the pilot of the Artistic Challenge, a season-long curricular enhancement issued by Yo-Yo Ma, challenging musicians to gain more meaningful ownership over repertoire and communication with audiences. To date, more than 700 Civic alumni have earned professional positions with some of the top orchestras across the globe. During the 2012/13 season, four Civic musicians and recent alumni earned positions with professional ensembles. 133714 Retail Sales - Music-related merchandise is available for purchase at The Symphony Store. 301149 Rentals and Commissions - A Club is available to donors for dining prior to CSO concerts. 930298 813955 Rentals and Commissions - Performance space provided to Chicagoland arts organizations. 192846 226281 Rentals and Commissions - Restaurant provided to donors for dining prior to or after concerts. 114399 513226 Rentals and Commissions - Parking lot provided for audiences' convenience to attend concerts. 196449 90934 Rentals and Commissions - Concessions are provided for audiences attending concerts. 1327902 257310 Media and Royalty - Radio Broadcast series, In-house recording label, audio recordings in compact disc and digital download formats. 147560 Other Program Services - Includes new program initiatives. 5271962 670924 1961521 64622564 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 239 1 1 1150 1 1 1 0 0 0 0 1 1 0 0 0 0 X 145 133 1 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 IL WA X Isabelle C Goossen VP and CFO 3122943301 220 S Michigan Avenue Chicago IL 606042559 Deborah F Rutter 40.00 X X 550481 0 32945 Jay L Henderson 2.10 X X 0 0 0 Frank M Clark 1.00 X X 0 0 0 Joyce T Green 0.70 X X 0 0 0 Robert A Kohl 1.30 X X 0 0 0 Jane DiRenzo Pigott 1.10 X X 0 0 0 Frederick H Waddell 1.10 X X 0 0 0 Scott C Smith 1.00 X X 0 0 0 James L Alexander 0.10 X 0 0 0 Mrs Robert A Beatty 0.30 X 0 0 0 Marshall Bennett 0.10 X 0 0 0 Melvyn Bergstein 0.10 X 0 0 0 Arnold M Berlin 0.30 X 0 0 0 William G Brown 0.10 X 0 0 0 Matthew Bucksbaum 0.10 X 0 0 0 Dean L Buntrock 0.10 X 0 0 0 Robert N Burt 0.10 X 0 0 0 Richard H Cooper 0.10 X 0 0 0 James S Crown 0.10 X 0 0 0 Mrs Robert Crown 0.10 X 0 0 0 Anthony T Dean 0.10 X 0 0 0 John A Edwardson 0.10 X 0 0 0 Sidney Epstein 0.10 X 0 0 0 Thomas J Eyerman 0.10 X 0 0 0 James B Fadim 0.10 X 0 0 0 David W Fox Sr 0.10 X 0 0 0 Richard J Franke 0.10 X 0 0 0 Cyrus F Freidheim Jr 0.20 X 0 0 0 H Laurance Fuller 0.10 X 0 0 0 Mrs Robert W Galvin 0.10 X 0 0 0 Paul C Gignilliat 0.30 X 0 0 0 William A Goldstein 0.30 X 0 0 0 Howard L Gottlieb 0.10 X 0 0 0 Mrs Richard H Gottlieb 0.30 X 0 0 0 Chester A Gougis 0.50 X 0 0 0 Richard Gray 0.40 X 0 0 0 Joan W Harris 0.20 X 0 0 0 Thomas C Heagy 0.10 X 0 0 0 Ben W Heineman 0.10 X 0 0 0 Debora de Hoyos 0.30 X 0 0 0 Mrs Roger B Hull 0.10 X 0 0 0 Judith W Istock 0.30 X 0 0 0 William R Jentes 0.30 X 0 0 0 Paul R Judy 0.10 X 0 0 0 Richard B Kapnick 0.10 X 0 0 0 Donald G Kempf Jr 0.10 X 0 0 0 George D Kennedy 0.10 X 0 0 0 Mrs John C Kern 0.30 X 0 0 0 John A Koten 0.10 X 0 0 0 Fred A Krehbiel 0.10 X 0 0 0 Charles Ashby Lewis 0.30 X 0 0 0 Eva F Lichtenberg 0.20 X 0 0 0 John S Lillard 0.10 X 0 0 0 Donald G Lubin 0.10 X 0 0 0 James W Mabie 0.70 X 0 0 0 R Eden Martin 0.10 X 0 0 0 Arthur C Martinez 0.10 X 0 0 0 Judith W McCue 0.70 X 0 0 0 Lester H McKeever 0.10 X 0 0 0 Newton N Minow 0.10 X 0 0 0 John D Nichols 0.10 X 0 0 0 James J O'Connor 0.30 X 0 0 0 William A Osborn 0.50 X 0 0 0 Mrs Albert Pawlick 0.20 X 0 0 0 Richard Pigott 0.10 X 0 0 0 Mrs Neil K Quinn 0.10 X 0 0 0 John M Richman 0.10 X 0 0 0 John W Rogers Jr 0.20 X 0 0 0 Mrs Ward C Rogers 0.10 X 0 0 0 Frank A Rossi 0.20 X 0 0 0 Cynthia M Sargent 0.40 X 0 0 0 John R Schmidt 0.10 X 0 0 0 Irving Seaman Jr 0.10 X 0 0 0 Thomas C Sheffield Jr 0.10 X 0 0 0 Rita Simo 0.30 X 0 0 0 Robert C Spoerri 0.10 X 0 0 0 William C Steinmetz 0.70 X 0 0 0 Carl W Stern 0.60 X 0 0 0 Richard J Stern 0.10 X 0 0 0 Roger W Stone 0.10 X 0 0 0 William H Strong 0.10 X 0 0 0 Louis C Sudler Jr 0.10 X 0 0 0 Richard L Thomas 0.20 X 0 0 0 Peggy Y Thomson 0.10 X 0 0 0 Richard P Toft 0.30 X 0 0 0 Charles A Tribbett 0.10 X 0 0 0 James Weiss 0.10 X 0 0 0 R John Aalbregtse 0.30 X 0 0 0 William Adams IV 0.70 X 0 0 0 Anthony K Anderson 0.60 X 0 0 0 Douglas J Bade 0.30 X 0 0 0 Wayne D Boberg 0.10 X 0 0 0 Laurence O Booth 0.40 X 0 0 0 Kay Bucksbaum 0.50 X 0 0 0 Leslie Henner Burns 0.10 X 0 0 0 Gregory C Case 0.10 X 0 0 0 Bruce E Clinton 0.30 X 0 0 0 Richard Colburn 0.20 X 0 0 0 Michelle L Collins 0.60 X 0 0 0 Ellen M Costello 0.30 X 0 0 0 Daniel J Doherty 0.30 X 0 0 0 Charles Douglas 0.50 X 0 0 0 Rick Fezell 0.10 X 0 0 0 Mark D Gerstein 0.30 X 0 0 0 Joseph B Glossberg 0.40 X 0 0 0 Richard C Godfrey 0.10 X 0 0 0 Thomas M Goldstein 0.50 X 0 0 0 Mary Louise Gorno 0.70 X 0 0 0 Mary Winton Green 0.10 X 0 0 0 Joseph A Gregoire 0.20 X 0 0 0 Anne Dias Griffin 0.20 X 0 0 0 Dietrich Gross 0.30 X 0 0 0 David P Hackett 0.20 X 0 0 0 John H Hart 0.30 X 0 0 0 Susan R Kiphart 0.20 X 0 0 0 Joseph A Konen 0.40 X 0 0 0 Josef Lakonishok 0.20 X 0 0 0 Patty Lane 0.30 X 0 0 0 Susan C Levy 0.30 X 0 0 0 John Livingston 0.10 X 0 0 0 John F Manley 0.20 X 0 0 0 Ling Z Markovitz 0.30 X 0 0 0 Alan R May 0.10 X 0 0 0 Peter D McDonald 0.90 X 0 0 0 Alfred L McDougal 0.30 X 0 0 0 Mark G McGrath 0.80 X 0 0 0 David E McNeel 0.40 X 0 0 0 Christopher Melvin 0.10 X 0 0 0 Linda Neuman 0.10 X 0 0 0 Sylvia Niel 0.40 X 0 0 0 Jose Luis Prado 0.10 X 0 0 0 John M Pratt 0.60 X 0 0 0 Dr Irwin Press 0.20 X 0 0 0 W Robert Reum 0.80 X 0 0 0 Norbert G Riedel 0.10 X 0 0 0 Alexander I Rorke 0.30 X 0 0 0 Jerry Rose 0.30 X 0 0 0 Burton X Rosenberg 0.30 X 0 0 0 Earl J Rusnak 0.60 X 0 0 0 Alejandro Silva 0.50 X 0 0 0 Raymond Skilling 0.10 X 0 0 0 Walter Snodell 0.20 X 0 0 0 David B Speer 0.10 X 0 0 0 Russ M Strobel 1.00 X 0 0 0 Hugh D Sullivan 0.10 X 0 0 0 Nasrin Thierer 0.20 X 0 0 0 Penny Van Horn 0.30 X 0 0 0 William A Von Hoene Jr 0.10 X 0 0 0 Eric E Whitaker 0.20 X 0 0 0 Paul Wiggin 0.90 X 0 0 0 Helen Zell 0.30 X 0 0 0 Isabelle Goossen 40.00 X 219338 0 16524 Karen Lewis Alexander 40.00 X 293162 0 32475 Karen Rahn 40.00 X 66393 0 23035 Riccardo Muti 40.00 X 1053333 0 0 Robert Chen 40.00 X 507470 0 46363 John Sharp 40.00 X 312309 0 51630 Mathieu Dufour 40.00 X 288592 0 22538 Stephen R Williamson 40.00 X 269785 0 40243 3560863 0 265753 133 0 1 0 Riccardo Muti 220 S Michigan Avenue Chicago IL 606042559 Artist Performances 1451003 Opus 3 Artists 470 Park Ave South 9th Floor North New York NY 10016 Artist Performances 1010833 SD&A Teleservices Inc 5757 W Century Blvd Los Angeles CA 90045 Telemarketing & Telefundraising 963585 Gemini Graphics Inc 860 West Lake Street Roselle IL 601722891 Printing Services 676601 Sound Postings 11 Water Street Suite 2B Arlington MA 02476 Creative Consultant 610703 38 1287730 201000 49826816 7323557 51315546 Ticket Sales 711190 22307455 22307455 Performance Fees 711190 6842937 6842937 Facility Rental Revenue 711190 813955 813955 Other Program Related Revenue 711190 533752 533752 Parking Lot Rental Revenue 711190 513226 513226 611764 81554 530210 31623089 4809674 4809674 238624 514377 -275753 -275753 -275753 49088203 2412 34419492 22216 14668711 -19804 14648907 7532 14641375 1048146 1287730 874079 174067 174067 391037 200571 190466 143875 46591 102485996 30723528 -221630 20668552 X 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266058983 436051982 473483741 X 21780089 14432350 14571838 X 0 1 X 1 0 X 26094618 32552630 25179692 34854034 51315546 169996520 26094618 32552630 25179692 34854034 51315546 169996520 18015001 151981519 6054823 4692098 4811919 4794643 4809674 25163157 195159677 159806358 0.77880 0.77430 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 80114642 80114642 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 274 351 31 0 656 250000 250000 250000 250000 1000000 1500000 233705000 13015000 26251000 11288000 21000 261662000 241339000 7111000 -3905000 10840000 233705000 208656000 3964000 39706000 10987000 241339000 190895000 3503000 25481000 11223000 208656000 232001000 8476000 -38454000 11125000 3000 190895000 0.54230 0.10190 0.35580 1 0 25475169 25475169 125038581 56678504 68360077 199537 56370 143167 9626420 7949122 1677298 12373065 4767602 7605463 103261174 Alternative investments - Absolute return 42011685 F Alternative investments - Hedged equities 42039759 F Alternative investments - Private equity 15285444 F Real assets 11303899 F Held in trust 2133953 F Other 15 F 112774755 Pension benefits 22577236 Other long-term liabilities 1185010 Interest rate swap contracts 18966752 42728998 X 133198324 14432350 99310 16180668 30712328 102485996 0 102485996 82414047 99310 1608830 1708140 80705907 0 80705907 Description of Intended Use of Endowment Funds: 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% 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. Description of Uncertain Tax Positions Under FIN 48: Part X, Line 2: Income Taxes The Corporation is exempt from federal and state income taxes under the provisions of Section 501(c)(3) of the Internal Revenue Code unless it has income from unrelated business activities. 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 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, 2013 and 2012, there were no unrecognized tax benefits identified or recorded as liabilities. The Corporation files Form 990 in the U.S. federal jurisdiction and the State of Illinois. The Corporation is generally no longer subject to examination by the Internal Revenue Service for years before the fiscal year ended June 30, 2009. Part XI, Line 2d - Other Adjustments: Interest rate swap fair value adjustment 10,591,045. Changes in pension plan assets and benefit obligations 3,980,793. Rental expenses (Part VIII, Line 6b) 514,377. Gain on sale of other assets (Part VIII, Line 7c(ii)) 19,803. Fundraising event expenses (Part VIII, Line 8b + Line 9b) 874,079. Cost of goods sold (Part VIII, Line 10b) 200,571. Part XII, Line 2d - Other Adjustments: Rental expenses (Part VIII, Line 6b) 514,377. Gain on sale of other assets (Part VIII, Line 7c(ii)) 19,803. Fundraising event expenses (Part VIII, Line 8b + Line 9b) 874,079. Cost of goods sold (Part VIII, Line 10b) 200,571. Central America and the Caribbean - 0 0 Investments 77043813 North America - Canada and Mexico but not the US 0 0 Program Services In Fall 2012, the Chicago Symphony Orchestra conducted a two-city , two-concert tour to Mexico, with stops in Guanajuato and Mexico City. 405099 East Asia and the Pacific 0 1 Program Services In January and February 2013, the Chicago Symphony Orchestra conducted a six-city , nine-concert tour to Asia which included stops in Taipei, Tianjin, Seoul, Hong Kong, Shanghai and Beijing. 3487823 East Asia and the Pacific 0 0 Fundraising Patrons' Tour 28150 0 1 0 0 0 1 80964885 0 80964885 1 0 1 0 0 0 X X X X X X X 1 SD&A Teleservices Inc 5757 W Century Los Angeles CA 90045 Telefundraising Campaigns 0 1579289 629380 949909 1579289 629380 949909 IL WA Symphony Ball 996561 595483 401078 8703 138889 11875 110793 Corporate Night 1032467 603620 428847 5198 40830 70711 194872 96598 11 306848 88627 218221 9578 97675 12069 76288 2335876 1287730 1048146 5198 59111 307275 218816 283679 874079 174067 1 Civic Orchestra Stipends 147 624911 Civic Orchestra Fellowships 7 46013 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: All regular members of the Civic Orchestra of Chicago receive a stipend. Associate members receive stipends if they perform as a sub or an extra player. Most Regular members receive an annual stipend of $6,700. Five string players who are assigned to principal positions via audition receive an additional $2,120 per season. Stipends offset some of the cost of living, allowing musicians more time to spend on their music studies. While the majority of Civic musicians are post-graduates, stipends may be applied to tuition expenses for students pursuing degrees in music. Seven graduate string players, all of whom are Regular members, receive a fellowship (rather than the stipend) annually that is disbursed on an annual or semester basis directly to the academic institution they are attending. This is part of a cooperative agreement between the Civic Orchestra and area schools (Northwestern University, DePaul University and Chicago College of Performing Arts at Roosevelt University) to provide two years of tuition-free graduate study. The academic institution covers the portion of the tuition that the fellowship from the Civic Orchestra does not cover. Civic Membership: Members of the Civic Orchestra of Chicago are chosen by blind audition in February-March for the following season (September-May). Adjudicators are members of the Chicago Symphony Orchestra. Auditionees play a prepared list of orchestral excerpts and a solo work that has been selected by the CSO member, and are ranked by a number during the audition process. When the auditions are over, the numbers are placed in order and then matched with the name of the auditionee. From the list, Regular and Associate membership rosters are formed. Regular section membership is based on the number of players required in a given section on a regular basis. Subs and extras are drawn from the Associate membership roster as needed throughout the season. All ranking is guided by the artistic quality of the audition as determined by the adjudicator. X 1 1 X X X X X 0 0 0 0 0 0 0 1 0 Deborah F Rutter 464224 0 25000 0 61257 0 14000 0 18945 0 583426 0 0 0 Isabelle Goossen 195480 0 0 0 23858 0 12852 0 3672 0 235862 0 0 0 Karen Lewis Alexander 271650 0 0 0 21512 0 11963 0 20512 0 325637 0 0 0 Riccardo Muti 1053333 0 0 0 0 0 0 0 0 0 1053333 0 0 0 Robert Chen 489398 0 0 0 18072 0 8634 0 37729 0 553833 0 0 0 John Sharp 293581 0 0 0 18728 0 16388 0 35242 0 363939 0 0 0 Mathieu Dufour 287520 0 0 0 1072 0 6972 0 15566 0 311130 0 0 0 Stephen R Williamson 268730 0 0 0 1055 0 5014 0 35229 0 310028 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, in executive session, the Executive Committee reviews and approves any bonus payment for the President. A Illinois Finance Authority 861091967 45200FGY9 2008-05-29 83015000 See Part VI 0 0 0 A 83015000 620000 81364393 722487 308120 1997 1 0 1 1 A 0 1 1 1 1 0 0 0 0 A 0 Schedule K Part IV, Arbitrage, Line 2c Date Rebate Computation Performed Issuer Name: Illinois Finance Authority Date the Rebate Computation was Performed: 05/20/2013 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. Part IV, Line 7 and Part V: On May 5, 2014, the corporation adopted established written procedures. Aon Hewitt Gregory C. Case (President and CEO) 105258 Consulting services 0 Blue Cross Blue Shield of Illinois Michelle L. Collins (Board Member) 838273 Health insurance premiums 0 Chicago Tribune William A. Osborn (Board Member), Helen Zell (Family relationship) 707819 Advertising - Print 0 The Northern Trust Company James S. Crown, Robert W. Lane(Family relationship with Board Members) 587785 Letter of Credit and other banking fees 0 The Northern Trust Company J. L. Prado, C. A. Tibbett (Board Members) F. H. Waddell(Chairman and CEO) 0 Mayer Brown LLP Debora de Hoyos, John R. Schmidt(Partners) 141896 Legal fees 0 Peter Ellefson Deborah F. Rutter (Family Relationship) 10665 Substitute musician fees 0 X 79 7009587 FMV - Stock gifts X Instruments 4 1238000 Appraised value X Wine sponsorship 1 21900 Fair market value X Cough drops 1 28123 Fair market value X Software 1 3386 Fair market value X Advertising 1 50000 Fair market value X Airfare miles 1 202100 Fair market value X Instrument usage 1 500 Fair market value X Production equipment 1 2550 Fair market value X Linens 1 532 Fair market value X Event venue 1 4879 Fair market value 0 0 1 Third Party Use: Part I, Line 32b: Publicly traded securites are sold via a stock brokerage account held at the corporation's primary banking relationship. Form 990, Part VI, Section A, line 2 Family Relationship: Matthew and Carolyn (Kay) Bucksbaum Business Relationship 1: Anthony K. Anderson, John W. Rogers, Jr., William A. Von Hoene, Jr. Business Relationship 2: James S. Crown, William A. Osborn Business Relationship 3: Frank M. Clark, Ellen M. Costello Business Relationship 4: Susan Crown (relative of James S. Crown), David B. Speer, Pamela B. Strobel (spouse of Russ M. Strobel) Business Relationship 5: Debora de Hoyos, John R. Schmidt Business Relationship 6: John W. Rogers, Jr., Roger W. Stone Business Relationship 7: Michelle L. Collins, Frederick A. Krehbiel, Donald G. Lubin Business Relationship 8: R. Eden Martin, Russ M. Strobel Business Relationship 9: Susan Crown (relative of James S. Crown), Robert W. Lane (spouse of Patty C. Lane), Jose Luis Prado, Charles A. Tibbett, Frederick H. Waddell Business Relationship 10: Walter Carlson (spouse of Debora de Hoyos) Charles W. Douglas, R. Eden Martin, Richard B. Kapnick, Newton N. Minow Business Relationship 11: William A. Osborn, Helen Zell Business Relationship 12: Susan Kiphart, James W. Mabie Business Relationship 13: Frank M. Clark, W. Robert Reum 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 11 CSO staff prepares Form 990, and it is reviewed by our tax advisor. 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. At its Spring meeting, the Board of Trustees was reminded of the Audit Committee's responsibility to review and approve the annual tax returns. The 2012 Form 990 and Form 990-T were reviewed and approved at the April 28, 2014 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. 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 September 7, 2012, of the Administrative Personnel Committee, which was comprised of three 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 President's compensation is also discussed in executive session at a board meeting. The process for determining the compensation of other officers or key employees included a meeting on September 7, 2012, of the Administrative Personnel Committee, which was comprised of three 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. Other Fees Form 990, Part IX, line 11g Guest Conductors, Artists and Composers: Program service expenses 6,931,714. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,931,714. Other Contracted Services: Program service expenses 1,619,905. Management and general expenses 831,868. Fundraising expenses 64,079. Total expenses 2,515,852. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 9: Interest rate swap fair value adjustments 10,591,045. Changes in pension plan assets and benefit obligations 3,980,793.