2013-05-13T13:23:17-05:00 2012-06-30 990 2011-07-01 362167823 Chicago Symphony Orchestra CHIC 3122943333 220 S Michigan Avenue Chicago IL 606042559 Deborah F Rutter 3122943210 2013-05-13 2011 2016-02-25 16:41:14Z Deborah F Rutter 220 S Michigan Avenue Chicago IL 606042559 114197842 0 X www.cso.org X 1890 IL To present classical music to Chicago, national and international audiences. 148 137 1134 930 -190780 -259494 25179692 34854034 26668722 32058324 10476634 11093253 395709 346012 62720757 78351623 644120 604506 0 0 40620403 45248355 449250 603652 3965225 29461146 33599159 71174919 80055672 -8454162 -1704049 454550299 436051982 192356024 220777276 262194275 215274706 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 52105498 25350579 Chicago Symphony Orchestra Concerts -- During the 2011/12 season, the CSO presented more than 300 performances for audiences of more than 435,000. Over 113 lectures were offered to more than 23,000 to enhance audience engagement in classical music and the orchestra. Four world premieres, one national premiere, and two original commissions were included in the repertoire. The CSO had an aggressive touring schedule: 10 concerts in Europe, 5 concerts in California, and 7 concerts in Russia and Italy. The CSO also performed in Ann Arbor, MI, Naperville, IL, and at Carnegie Hall in NY. The free Concert for Chicago was held at Chicago's Apostolic Church of God, to an audience of about 5,000. The CSO is contracted by the Ravinia Festival Association for an annual summer residency at Ravinia Park to an audience of about 94,000. 4801711 4003993 Symphony Center Presents Concerts -- Symphony Center Presents is the CSO's guest artist series, welcoming a selection of well-known classical artists, as well as musicians from outside the classical genre, to Symphony Center. A total of 52 concerts were presented during the fiscal year to an estimated audience of 94,000. These concerts featured both established artistic leaders and up-and-coming musicians, and welcomed diverse audiences to Orchestra Hall to hear a wide variety of styles of music. 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. 2825821 439352 Education Concerts and Activities -- The CSO's Institute for Learning, Access and Training conducts more than 20 annual programs that share the transformative power of music with youth, schools, teachers, fmailies, seniors, and underserved populations. More than 126,000 people attended education concerts and youth events at Symphony Center during the 2011/12 season. The Institute conducted over 450 in-school programs, including events in Chicago Public Schools and juvenile detention center school facilities. Free tickets and transportation were offered Chicago residents in traditionally underserved neighborhoods through partnerships with community groups. Free concerts in schools, park district sites and community venues helped demonstrate the importance of music as a part of everyday life. 1775754 604506 88378 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. In 2011/12, more than 20,400 people attended free Civic Orchestra concerts. To date, more than 700 Civic alumni have earned professional positions with some of the top orchestras across the globe. During the 2011/12 season, five Civic musicians and recent alumni earned positions with professional ensembles. 123759 Retail Sales - Music-related merchandise is available for purchase at The Symphony Store. 146152 0 Rentals and Commissions - A Club is available to donors for dining prior to CSO concerts. 1037453 875091 Rentals and Commissions - Performance space provided to Chicagoland arts organizations. 187825 226015 Rentals and Commissions - Restaurant provided to donors for dining prior to or after concerts. 117783 444876 Rentals and Commissions - Parking lot provided for audiences convenience to attend concerts. 197785 92057 Rentals and Commissions - Concessions are provided for audiences attending concerts. 1126065 531856 Media and Royalty - Radio Broadcast series, In-house recording label, audio recordings in compact disc and digital download formats. 103682 6127 Other Program Services - Includes new program initiatives. 4816258 604506 2264400 64549288 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 0 1 248 1 1 1134 1 1 1 0 0 0 0 1 1 0 0 0 0 X 148 137 1 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 IL X VP and CFO 3122943301 220 S Michigan Avenue Chicago IL 606042559 Deborah F Rutter 40.00 X X 545768 0 31421 William A Osborn 1.70 X X 0 0 0 Chester A Gougis 0.80 X X 0 0 0 Joyce T Green 0.60 X X 0 0 0 Robert A Kohl 1.10 X X 0 0 0 Jane DiRenzo Pigott 0.80 X X 0 0 0 Jay L Henderson 1.30 X X 0 0 0 Mrs Robert A Beatty 0.20 X 0 0 0 Marshall Bennett 0.10 X 0 0 0 Melvyn Bergstein 0.10 X 0 0 0 Arnold M Berlin 0.20 X 0 0 0 Mrs William A Boone 0.10 X 0 0 0 William G Brown 0.10 X 0 0 0 Matthew Bucksbaum 0.10 X 0 0 0 Dean L Buntrock 0.20 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 0.30 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 0.20 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 0.30 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 0.40 X 0 0 0 Howard L Gottlieb 0.30 X 0 0 0 Mrs Richard H Gottlieb 0.20 X 0 0 0 Richard Gray 0.10 X 0 0 0 J Parker Hall III 0.10 X 0 0 0 Joan W Harris 0.10 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 0.70 X 0 0 0 Mrs Roger B Hull 0.10 X 0 0 0 Judith W Istock 0.40 X 0 0 0 William R Jentes 0.30 X 0 0 0 Paul R Judy 0.10 X 0 0 0 Morris A Kaplan 0.00 X 0 0 0 Richard B Kapnick 0.30 X 0 0 0 Donald G Kempf Jr 0.30 X 0 0 0 George D Kennedy 0.10 X 0 0 0 Mrs John C Kern 0.20 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 0.20 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 CH Randolph Lyon 0.60 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 Mrs Albert Pawlick 0.20 X 0 0 0 Richard Pigott 0.10 X 0 0 0 Robert A Pritzker 0.10 X 0 0 0 Mrs Neil K Quinn 0.10 X 0 0 0 John M Richman 0.20 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 0.30 X 0 0 0 Cynthia M Sargent 0.20 X 0 0 0 John R Schmidt 0.30 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 0.10 X 0 0 0 Scott C Smith 0.80 X 0 0 0 Robert C Spoerri 0.10 X 0 0 0 William C Steinmetz 0.60 X 0 0 0 Carl W Stern 0.50 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 0.30 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 0.40 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 James L Alexander 0.50 X 0 0 0 Anthony K Anderson 0.60 X 0 0 0 Douglas J Bade 0.50 X 0 0 0 Wayne D Boberg 0.10 X 0 0 0 Laurence O Booth 0.30 X 0 0 0 Kay Bucksbaum 0.10 X 0 0 0 Leslie Henner Burns 0.10 X 0 0 0 Gregory C Case 0.10 X 0 0 0 Frank M Clark 0.30 X 0 0 0 Bruce E Clinton 0.30 X 0 0 0 Richard Colburn 0.40 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 0.60 X 0 0 0 Charles Douglas 0.30 X 0 0 0 David W Fox Jr 0.20 X 0 0 0 Mark D Gerstein 0.20 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 0.60 X 0 0 0 Mary Winton Green 0.20 X 0 0 0 Joseph A Gregoire 0.60 X 0 0 0 Anne Dias Griffin 0.40 X 0 0 0 Dietrich Gross 0.30 X 0 0 0 David P Hackett 0.20 X 0 0 0 John H Hart 0.20 X 0 0 0 Susan R Kiphart 0.10 X 0 0 0 Josef Lakonishok 0.10 X 0 0 0 Patty Lane 0.10 X 0 0 0 Susan C Levy 0.60 X 0 0 0 John Livingston 0.30 X 0 0 0 John F Manley 0.30 X 0 0 0 Ling Z Markovitz 0.40 X 0 0 0 Alan R May 0.40 X 0 0 0 Peter D McDonald 1.10 X 0 0 0 Alfred L McDougal 0.30 X 0 0 0 Mark G McGrath 0.50 X 0 0 0 David E McNeel 0.40 X 0 0 0 Linda Neumann 0.10 X 0 0 0 John M Pratt 0.20 X 0 0 0 Dr Irwin Press 0.30 X 0 0 0 W Robert Reum 0.50 X 0 0 0 Norbert G Riedel 0.10 X 0 0 0 Alexander I Rorke 0.40 X 0 0 0 Jerry Rose 0.20 X 0 0 0 Earl J Rusnak Jr 0.70 X 0 0 0 Alejandro Silva 0.50 X 0 0 0 Raymond Skilling 0.10 X 0 0 0 David B Speer 0.20 X 0 0 0 Russ M Strobel 1.10 X 0 0 0 Hugh D Sullivan 0.10 X 0 0 0 Penny Van Horn 0.70 X 0 0 0 Frederick H Waddell 0.40 X 0 0 0 Sona Wang 0.10 X 0 0 0 Eric E Whitaker MD MPH 0.20 X 0 0 0 Paul Wiggin 1.00 X 0 0 0 Helen Zell 0.40 X 0 0 0 Isabelle Goossen 40.00 X 208903 0 14483 Peggy Titterington 40.00 X 126109 0 17480 Karen Lewis Alexander 40.00 X 0 0 0 Karen Rahn 40.00 X 64455 0 20236 Kevin Giglinto 40.00 X 175509 0 31113 Martha Gilmer 40.00 X 208137 0 33624 Vanessa Moss 40.00 X 193271 0 33117 Riccardo Muti 40.00 X 1013333 0 0 Robert Chen 40.00 X 438188 0 43936 John Sharp 40.00 X 277569 0 44665 Mathieu Dufour 40.00 X 291260 0 19748 Christopher Martin 40.00 X 266834 0 25840 3809336 0 315663 135 0 1 0 Riccardo Muti 220 S Michigan Avenue Chicago IL 606042559 Artist Performances 1152127 SD&A Teleservices Inc 5757 W Century Blvd Los Angeles CA 90045 Telemarketing & Telefundraising 846516 Opus 3 Artists 470 Park Ave South 9th Floor North New York NY 10016 Artist Performances 802047 Gemini Graphics Inc 860 West Lake Street Roselle IL 601722891 Printing Services 628826 Allied Barton Security 161 Washington Street Conshohocken PA 19428 Security 583911 31 1429499 235285 33189250 4208502 34854034 Ticket Sales 711190 21353946 21353946 Performance Fees 711190 7929154 7929154 Facility Rental Revenu 711190 875091 875091 Other Program Related 711190 536106 536106 Parking Lot Rental Rev 711190 444876 444876 919151 385030 534121 32058324 4794643 4794643 216399 459849 -243450 -243450 -243450 40621392 2268 34325050 0 6296342 2268 6298610 12692 6285918 1215236 1429499 854920 360316 360316 5860 0 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145515000 31410267 57508655 192356024 220777276 X 146111113 96621388 40423875 37274082 75659287 81379236 262194275 215274706 454550299 436051982 X -1704049 -45215520 X 0 1 1 X 0 X 22408711 26094618 32552630 25179692 34854034 141089685 22408711 26094618 32552630 25179692 34854034 141089685 9520166 131569519 8488363 6054823 4692098 4811919 4794643 28841846 169931531 158395113 0.77430 0.75330 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31 31 80055641 80055672 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 421 274 351 31 1077 250000 250000 250000 250000 1000000 1500000 241339000 7111000 -3905000 10840000 233705000 208656000 3964000 39706000 10987000 241339000 190895000 3503000 25481000 11223000 208656000 232001000 8476000 -38454000 11125000 3000 190895000 0.55120 0.34820 0.10060 1 0 25475169 25475169 124913103 53654942 71258161 301317 137491 163826 9079426 7339795 1739631 10945818 4272645 6673173 105309960 Alternative investments - Absolute return 38614592 F Alternative investments - Hedged equities 47003668 F Alternative investments - Private equity 13416159 F Real assets 18847304 F Held in trust 1966778 F Other 17 F 119848518 Pension benefits 26840149 Other long-term liabilities 1110709 Interest rate swap contracts 29557797 57508655 78351623 80055672 -1704049 -17027850 -28187670 -45215520 -46919569 62929327 -17027850 86652 -16941198 79870525 -1518902 -1518902 78351623 109848896 86652 28187670 28274322 81574574 -1518902 -1518902 80055672 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: 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 taxexempt 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, 2012 and 2011, 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, 2008. Part XI, Line 8 - Other Adjustments: Interest rate swap fair value adjustments -15,491,132. Changes in pension plan assets and benefit obligations -12,696,538. Total to Schedule D, Part XI, Line 8: -28,187,670. Part XII, Line 4b - Other Adjustments: Rental expenses (Part VIII, Line 6b) -459,849. Gain on sale of other assets (Part VIII, Line 7c(ii)) 2,268. Fundraising event expenses (Part VIII, Line 8b + Line 9b) -854,920. Cost of goods sold (Part VIII, Line 10b) -206,401. Part XIII, Line 2d - Other Adjustments: Interest rate swap fair value adjustment 15,491,132. Changes in pension plan assets and benefit obligations 12,696,538. Part XIII, Line 4b - Other Adjustments: Rental expenses (Part VIII, Line 6b) -459,849. Gain on sale of other assets (Part VIII, Line 7c(ii)) 2,268. Fundraising event expenses (Part VIII, Line 8b + Line 9b) -854,920. Cost of goods sold (Part VIII, Line 10b) -206,401. Central America and the Caribbean - 0 0 Investments 75462949 Europe (Including Iceland & Greenland) 0 0 Program Services In Fall 2011, the Chicago Symphony Orchestra conducted a six-city , ten-concert tour to Europe which included stops in Salzburg, Lucerne, Luxembourg, Paris, Dresden and Vienna. 3482485 Russia & the Newly Independent States 0 0 Program Services In April 2012, the Chicago Symphony Orchestra conducted a two-city , three-concert tour to Russia which included stops in Moscow and St. Petersburg. 1392231 Europe (Including Iceland & Greenland) 0 0 Program Services In April 2012, the Chicago Symphony Orchestra conducted a four-city , four-concert tour to Italy which included stops in Rome, Naples, Brescia and Ravenna. 1856308 Europe (Including Iceland & Greenland) - 0 0 Fundraising Patrons' Tour 27633 Russia & the Newly Independent States - 0 0 Fundraising Patrons' Tour 15745 Europe (Including Iceland & Greenland) - 0 0 Fundraising Patrons' Tour 20994 0 0 0 0 0 0 82258345 0 82258345 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 1803622 603562 1199970 1803622 603562 1199970 IL Symphony Ball 1045141 612784 432357 8657 130100 12900 73445 Corporate Night 1147676 688364 459312 4390 37005 64036 180522 73647 12 451918 128351 323567 648 13779 122367 12918 120506 2644735 1429499 1215236 5038 59441 316503 206340 267598 854920 360316 1 Civic Orchestra Stipends 135 553406 Civic Orchestra Fellowships 8 51100 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 $6,500. Five string players who are assigned to principal positions via audition receive an additional $2,060 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. Eight 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 0 0 Deborah F Rutter 440310 0 50000 0 55458 0 12700 0 18721 0 577189 0 0 0 Isabelle Goossen 185636 0 0 0 23267 0 11112 0 3371 0 223386 0 0 0 Kevin Giglinto 158875 0 0 0 16634 0 8388 0 22725 0 206622 0 0 0 Martha Gilmer 176837 0 0 0 31300 0 12990 0 20634 0 241761 0 0 0 Vanessa Moss 176490 0 0 0 16781 0 10810 0 22307 0 226388 0 0 0 Riccardo Muti 1013333 0 0 0 0 0 0 0 0 0 1013333 0 0 0 Robert Chen 428596 0 0 0 9592 0 7206 0 36730 0 482124 0 0 0 John Sharp 259758 0 0 0 17811 0 14694 0 29971 0 322234 0 0 0 Mathieu Dufour 290680 0 0 0 580 0 6282 0 13466 0 311008 0 0 0 Christopher Martin 266191 0 0 0 643 0 5097 0 20743 0 292674 0 0 0 Part I, Line 1a Charter travel is provided for all employees during certain foreign and domestic tours when deemed more economical. Illinois Finance Authority 861091967 45200FGY9 2008-05-29 83015000 See Part VI 0 0 0 83015000 620000 81364393 722487 308120 1997 1 0 1 1 0 1 0 0 0 1 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 V: Procedures to Undertake Corrective Action Chicago Tribune William A. Osborn (Board Member), Helen Zell (Family relationship) 613845 Advertising - Print 0 The Northern Trust Company J.S. Crown(Family relationship),D. Fox,Jr.(Key EE),F.H. Waddell(Chairman) 593326 Letter of Credit and other banking fees 0 Blue Cross Blue Shield of Illinois Michelle L. Collins (Board Member), Sona Wang (Director) 672050 Insurance premiums 0 JP Morgan James S. Crown (Board Member), David Fox, Jr. (Vice Chairman) 128556 Letter of Credit and other banking fees 0 Mayer Brown LLP D.de Hoyos(Partner), J.R.Schmidt(Partner), J.W.McCue(Family Relationship) 121477 Legal fees 0 X 81 3517239 FMV-stock gifts X Wine Sponsorship 1 21900 Fair Market Value X Cough Drops 1 28123 Fair Market Value X Software 1 4385 Fair Market Value X Advertising 1 45814 Fair Market Value X Airfare miles 1 200000 Fair Market Value X Instrument usage 1 26874 Fair Market Value X Tour travel 1 364167 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 Family Relationship: David W. Fox, Sr., David W. Fox, Jr. Business Relationship 1: Gregory C. Case, R. Eden Martin, John W. Rogers, Jr. Business Relationship 2: Anthony K. Anderson, John W. Rogers, Jr. Business Relationship 3: James S. Crown, William A. Osborn Business Relationship 4: Frank M. Clark, Ellen M. Costello Business Relationship 5: Michelle L. Collins, Sona Wang Business Relationship 6: Susan Crown (relative of James S. Crown), David B. Speer, Pamela B. Strobel (spouse of Russ M. Strobel) Business Relationship 7: Debora de Hoyos, Scott McCue (spouse of Judith W. McCue), John R. Schmidt Business Relationship 8: John W. Rogers, Jr., Roger W. Stone Business Relationship 9: Michelle L. Collins, Frederick A. Krehbiel, Donald G. Lubin Business Relationship 10: James S. Crown, David W. Fox, Jr. Business Relationship 11: R. Eden Martin, Russ M. Strobel Business Relationship 12: Susan Crown (relative of James S. Crown), David Fox, Jr., Frederick H. Waddell Business Relationship 13: Walter Carlson (spouse of Debora de Hoyos) Charles W. Douglas, R. Eden Martin, Richard B. Kapnick, Newton N. Minow Business Relationship 14: William A. Osborn, Helen Zell Business Relationship 15: Frank M. Clark, Dean L. Buntrock Form 990, Part VI, Section A, line 7a 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 2011 Form 990 and Form 990-T were reviewed and approved at the April 29, 2013 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 August 3, 2011, 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 August 3, 2011, 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. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized losses on investments: -17,027,850. Interest rate swap fair value adjustments -15,491,132. Changes in pension plan assets and benefit obligations -12,696,538. Total to Form 990, Part XI, Line 5: -45,215,520.