2011-05-05T16:07:55-05:00 2010-06-30 RSM MCGLADREY INC 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2009-07-01 362167823 Chicago Symphony Orchestra CHIC 3122943333 220 S Michigan Avenue Chicago IL 606042559 Deborah R Card 3122943210 2011-05-05 1 3126343400 2009 2016-02-24 21:20:13Z Deborah R Card 220 S Michigan Avenue Chicago IL 606042559 125045311 0 X www.cso.org X 1890 IL To present classical music to Chicago, national and international audiences. 146 137 1163 850 -205581 -284758 26094618 32552630 30215364 27953888 -1307543 8789873 932332 328662 55934771 69625053 612722 615288 0 39259562 38394807 536902 498691 3437476 30900811 29872511 71309997 69381297 -15375226 243756 396194804 422420740 189209628 203840344 206985176 218580396 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 41917615 22151548 Chicago Symphony Orchestra Concerts -- A total of 169 concerts were presented during the fiscal year to an estimated audience of 412,000. In addition, nearly 113 pre- and post-concert lectures were presented to an estimated audience of 29,600.Highlights include a monthlong Pierre Boulez @ 85 celebrations and a three-week Beethoven Festival.Performances outside of Symphony Center include a five-city, nine-concert European tour, two concerts at Carnegie Hall in New York City and one concert in Ann Arbor, MI and Lake Geneva, WI. 4570792 3609255 Symphony Center Presents Concerts -- A total of 50 concerts were presented during the fiscal year to an estimated audience of 86,800.Highlights include the Bank of America Great Performers Series of visiting orchestras, the Jazz at Symphony Center series and other special and holiday performances by internationally renowned artists and ensembles. 1905107 488432 Education Concerts and Activities -- A total of 22 education concerts were presented to an estimated audience of 43,700.In addition to the education concerts offered at Symphony Center for school groups and families, other ongoing programs include teacher workshops, preparatory docent visits, in-class instrument demonstrations, community performances, free tickets and transportation, classroom materials and curricula, and open rehearsals. The Institute for Learning, Access and Training offered many diverse programs that touched the lives of more than 200,000 individuals in the 2009/10 season. 1647930 615288 61210 Civic Orchestra Concerts -- A total of 7 concerts were presented to an estimated audience of 25,100. In additon, 7 pre-concert lectures were presented to an estimated audience of 1,200. 151238 Retail Sales - Music-related merchandise is available for purchase at The Symphony Store. 143391 31215 Rentals and Commissions - A Club is available to donors for dining prior to CSO concerts. 907430 623020 Rentals and Commissions - Performance space provided to Chicagoland arts organizations. 310495 210125 Rentals and Commissions - Restaurant provided to donors for dining prior to or after concerts. 298349 475002 Rentals and Commissions - Parking lot provided for audiences convenience to attend concerts. 174214 91840 Rentals and Commissions - Concessions are provided for audiences attending concerts. 1552130 176197 Media and Royalty - Radio Broadcast series, In-house recording label, audio recordings in compact disc and digital download formats. 139617 36044 Other Program Services - Includes CSO Chamber concerts. 5324794 615288 1704653 53718308 1 1 0 1 0 0 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 1 209 12 1 1163 1 1 1 0 0 0 0 1 1 0 0 0 146 137 1 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 IL X VP for Finance and Administration 3122943301 220 S Michigan Avenue Chicago IL 606042559 Deborah R Card 40.00 X X 453148 0 29412 William A Osborn 2.40 X X 0 0 0 Paul C Gignilliat 0.60 X X 0 0 0 Chester A Gougis 0.80 X X 0 0 0 Judith W McCue 1.10 X X 0 0 0 Jane DiRenzo Pigott 0.90 X X 0 0 0 David B Speer 0.70 X X 0 0 0 Jay L Henderson 1.00 X X 0 0 0 Mrs A Watson Armour III 0.10 X 0 0 0 Mrs Robert A Beatty 0.50 X 0 0 0 Marshall Bennett 0.10 X 0 0 0 Arnold M Berlin 0.30 X 0 0 0 Mrs William A Boone 0.10 X 0 0 0 Mrs Robert Borwell 0.30 X 0 0 0 William G Brown 0.20 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 0.30 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 David W Fox Sr 0.50 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 Howard L Gottlieb 0.30 X 0 0 0 Mrs Richard H Gottlieb 0.20 X 0 0 0 Richard Gray 0.20 X 0 0 0 J Parker Hall III 0.10 X 0 0 0 Joan W Harris 0.20 X 0 0 0 Thomas C Heagy 0.40 X 0 0 0 Ben W Heineman 0.10 X 0 0 0 Debora de Hoyos 0.40 X 0 0 0 Mrs Roger B Hull 0.20 X 0 0 0 Judith A Istock 0.50 X 0 0 0 William R Jentes 0.60 X 0 0 0 Paul R Judy 0.10 X 0 0 0 Morris A Kaplan 0.40 X 0 0 0 Richard B Kapnick 0.30 X 0 0 0 Donald G Kempf Jr 0.40 X 0 0 0 George D Kennedy 0.10 X 0 0 0 Mrs John C Kern 0.40 X 0 0 0 John A Koten 0.20 X 0 0 0 Fred A Krehbiel 0.10 X 0 0 0 Charles A Lewis 0.30 X 0 0 0 Eva F Lichtenberg 0.30 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 Lester H McKeever 0.10 X 0 0 0 William W McKittrick 0.10 X 0 0 0 Newton N Minow 0.10 X 0 0 0 John D Nichols 0.20 X 0 0 0 James J O'Connor 0.10 X 0 0 0 Mrs Albert Pawlick 0.40 X 0 0 0 Richard Pigott 0.60 X 0 0 0 Robert A Pritzker 0.10 X 0 0 0 Mrs Neil K Quinn 0.40 X 0 0 0 John M Richman 0.30 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 0.40 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 0.20 X 0 0 0 Robert C Spoerri 0.10 X 0 0 0 William C Steinmetz 0.40 X 0 0 0 Carl W Stern 0.40 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 0.60 X 0 0 0 Louis C Sudler Jr 0.10 X 0 0 0 Richard L Thomas 0.40 X 0 0 0 Richard P Toft 0.20 X 0 0 0 Mrs Howard J Trienens 0.10 X 0 0 0 James Weiss 0.20 X 0 0 0 William Adams IV 0.80 X 0 0 0 James L Alexander 0.30 X 0 0 0 Anthony K Anderson 0.30 X 0 0 0 Douglas J Bade 0.30 X 0 0 0 Melvyn Bergstein 0.10 X 0 0 0 Wayne D Boberg 0.10 X 0 0 0 Laurence O Booth 0.20 X 0 0 0 Matthew Bucksbaum 0.20 X 0 0 0 Gregory C Case 0.10 X 0 0 0 Frank M Clark 0.40 X 0 0 0 Bruce E Clinton 0.40 X 0 0 0 Richard Colburn 0.20 X 0 0 0 Michelle L Collins 0.60 X 0 0 0 Ellen M Costello 0.10 X 0 0 0 Charles Douglas 0.10 X 0 0 0 James B Fadim 0.40 X 0 0 0 David W Fox Jr 0.30 X 0 0 0 Joseph B Glossberg 0.70 X 0 0 0 Richard C Godfrey 0.40 X 0 0 0 Thomas M Goldstein 0.30 X 0 0 0 William A Goldstein 0.60 X 0 0 0 Karen Goodyear 0.30 X 0 0 0 Mary Louise Gorno 0.70 X 0 0 0 Joyce T Green 0.40 X 0 0 0 Mary Winton Green 0.30 X 0 0 0 Joseph A Gregoire 0.50 X 0 0 0 Anne Dias Griffin 0.40 X 0 0 0 Dietrich Gross 0.40 X 0 0 0 David P Hackett 0.20 X 0 0 0 John H Hart 0.40 X 0 0 0 Cheryl Istvan 0.40 X 0 0 0 Cheryle R Jackson 0.10 X 0 0 0 David A Kipper 0.20 X 0 0 0 Robert Kohl 1.00 X 0 0 0 Joseph Konen 0.70 X 0 0 0 Josef Lakonishok 0.30 X 0 0 0 John Livingston 0.60 X 0 0 0 CH Randolph Lyon 0.60 X 0 0 0 John F Manley 0.10 X 0 0 0 Ling Z Markovitz 0.60 X 0 0 0 Peter D McDonald 0.80 X 0 0 0 Alfred L McDougal 0.60 X 0 0 0 David E McNeel 0.40 X 0 0 0 John M Pratt 0.30 X 0 0 0 Dr Irwin Press 0.20 X 0 0 0 James Reynolds Jr 0.30 X 0 0 0 Norbert G Riedel 0.40 X 0 0 0 Alexander I Rorke 0.20 X 0 0 0 Jerry Rose 0.30 X 0 0 0 Earl J Rusnak Jr 1.10 X 0 0 0 Gloria Santona 0.10 X 0 0 0 Alejandro Silva 0.60 X 0 0 0 Rita Simo 0.20 X 0 0 0 Raymond Skilling 0.10 X 0 0 0 Scott C Smith 0.50 X 0 0 0 Russ M Strobel 1.00 X 0 0 0 Peggy Y Thomson 0.20 X 0 0 0 Charles A Tribbett 0.50 X 0 0 0 Penny Van Horn 0.90 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 191124 0 13130 Peggy Titterington 40.00 X 168846 0 22196 Nicole Love 40.00 X 53344 0 15670 Kevin Giglinto 40.00 X 155672 0 27298 Martha Gilmer 40.00 X 185123 0 28600 Vanessa Moss 40.00 X 178515 0 28927 Robert Chen 40.00 X 420843 0 31981 John Sharp 40.00 X 250371 0 33820 Christopher Martin 40.00 X 246529 0 11938 Eugene Izotov 40.00 X 236316 0 28333 Jay Friedman 40.00 X 234754 0 23937 2774585 0 295242 129 0 1 0 SD&A Teleservices Inc 5757 W Century Blvd Los Angeles CA 90045 Telemarketing & Telefundraising 953201 Bernard Haitink 220 S Michigan Avenue Chicago IL 60604 Artist Performances 771949 Gemini Graphics Inc 860 West Lake Street Roselle IL 601722891 Printing Services 577837 Allied Barton Security 161 Washington Street Conshohocken PA 19428 Security 527038 KIMCO Corporation 135 S LaSalle Chicago IL 606741607 Janitorial 488309 30 1486260 305734 30760636 2096260 32552630 Ticket Sales 711190 20644493 20644493 Performance Fees 711190 5175475 5175475 Facility Rental Revenu 711190 623020 623020 Other Program Related 711190 491711 491711 Parking Lot Rental Rev 711190 475002 475002 544187 65409 478778 27953888 4692098 4692098 312475 540749 -228274 -228274 -228274 57826309 53727661 873 4098648 -873 4097775 3901 4093874 1278854 1486260 908770 370084 370084 11375 11101 274 274 417682 231104 186578 167786 18792 69625053 27167894 -205581 10110110 615288 615288 1552527 422477 938333 191717 28632888 25372265 1962805 1297818 2906628 2688665 128019 89944 3427902 3069940 176217 181745 1874862 1520040 243330 111492 150272 49332 99586 1354 93680 93680 498691 498691 58209 56467 1742 7227644 6760489 311984 155171 4351770 3800507 361595 189668 775138 526182 115256 133700 221721 76540 105493 39688 2387120 1922580 216722 247818 2098346 1934328 76200 87818 178004 82934 72510 22560 6384836 6384836 3907086 3627935 279151 264360 264360 Equipment Rental & Main 616743 616743 Miscellaneous 558904 118716 254868 185320 Music & Instrument Rent 335825 250494 84101 1230 Music License Fees 262853 262853 69381297 53718308 12225513 3437476 590992 1887000 13346629 13412122 13693905 18841873 687972 823512 202771 166471 2797683 2689768 168719804 57519655 114110362 111200149 172694217 171565529 78070273 101834316 396194804 422420740 4342138 4665865 12107816 12615365 146415000 145515000 26344674 41044114 189209628 203840344 X 112159589 111199042 23073115 34316093 71752472 73065261 206985176 218580396 396194804 422420740 X 0 1 1 X 0 X 26325053 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swap contracts 17591544 41044114 69625053 69381297 243756 24921284 -13569820 11351464 11595220 96780436 24921284 541502 25462786 71317650 -1692597 -1692597 69625053 85185216 541502 13569820 14111322 71073894 -1692597 -1692597 69381297 Part V, Line 4: Description of Intended Use of Endowment Funds: 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. Part X: Description of Uncertain Tax Positions Under FIN 48: Line 2: 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. On July 1, 2009, the Corporation adopted the accounting 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, 2010, there were no unrecognized tax benefits identified or recorded as liabilities. Part XI, Line 8 - Other Adjustments: Changes in pension plan assets and benefit obligations: -8440806. Swap market value adjustment: -5129014. Part XII, Line 4b - Other Adjustments: Rental expenses (Part VIII, Line 6b): -540749. Gain on sale of other assets (Part VIII, Line 7c(ii)): -873. Fundraising event expenses (Part VIII, Line 8b): -919871. Cost of goods sold (Part VIII, Line 10b): -231104. Part XIII, Line 2d - Other Adjustments: Swap market value adjustment: 5129014. Changes in pension plan assets and benefit obligations: 8440806. Part XIII, Line 4b - Other Adjustments: Rental expenses (Part VIII, Line 6b): -540749. Gain on sale of other assets (Part VIII, Line 7c(ii)): -873. Fundraising event expenses (Part VIII, Line 8b): -919871. Cost of goods sold (Part VIII, Line 10b): -231104. Europe (Including Iceland & Greenland) Program Services In September 2009, the Chicago Symphony Orchestra conducted a five-city , nine-concert tour to Europe which included stops in Berlin, Lucerne, Vienna, Paris and London. 3206410 Central America and the Caribbean Investments 0 0 3206410 X X X X X X X 1 SD&A Teleservices Inc Telefundraising Campaigns 0 2019288 498691 1520597 2019288 498691 1520597 IL Corporate Night 1380711 714373 666338 7417 83386 94716 267170 Opening Night Gala 1060168 651160 409008 5872 127999 31457 10475 66230 16 324235 120727 203508 0 27636 27786 52941 19069 86616 2765114 1486260 1278854 40925 155785 167784 124260 420016 908770 370084 1 Civic Orchestra Stipends 133 546958 Civic Orchestra Fellowships 13 68330 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 $6,300. Stipends offset 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. Thirteen 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, Northern Illinois 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. Other Information: Part IV: 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 0 0 0 0 0 0 0 0 0 Deborah R Card 409044 0 0 0 44104 0 12615 0 16797 0 482560 0 0 0 Isabelle Goossen 168381 0 0 0 22743 0 9158 0 3972 0 204254 0 0 0 Peggy Titterington 152121 0 0 0 16725 0 7425 0 14771 0 191042 0 0 0 Kevin Giglinto 141134 0 0 0 14538 0 7063 0 20235 0 182970 0 0 0 Martha Gilmer 164228 0 0 0 20895 0 10363 0 18237 0 213723 0 0 0 Vanessa Moss 162767 0 0 0 15748 0 9489 0 19439 0 207443 0 0 0 Robert Chen 414468 0 0 0 6375 0 4123 0 28581 0 453547 0 0 0 John Sharp 232540 0 0 0 17831 0 9101 0 25220 0 284692 0 0 0 Christopher Martin 245378 0 0 0 1151 0 3226 0 9738 0 259493 0 0 0 Eugene Izotov 224753 0 0 0 11563 0 2672 0 26033 0 265021 0 0 0 Jay Friedman 210339 0 0 0 24415 0 4167 0 21037 0 259958 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 Schedule O 0 0 83015000 81364393 1030607 620000 1997 1 0 1 1 0 1 0 0 0 1 Chicago Tribune William A. Osborn (Board Member), Helen Zell (Family relationship) 473416 Advertising - Print 0 The Northern Trust Company William A. Osborn (Board Chairman), James S. Crown (Family relationship) 810442 Letter of Credit and other banking fees 0 Mayer Brown Debora de Hoyos, John Schmidt (Partners) Judith McCue (Family relationship) 324550 Legal services 0 Blue Cross Blue Shield of Illinois Michelle L. Collins (Affiliate) 415737 Insurance premiums 0 JP Morgan James S. Crown (Board Member), David Fox, Jr. (Vice Chairman) 182460 Letter of Credit and other banking fees 0 Peter E Ellefson Deborah R. Card (Family Relationship) 17374 Substitute musician fees 0 X 82 1960096 FMV of stock X Other Misc 1 7614 Fair Market Value X Event prizes 1 29988 Fair Market Value X Software 1 4175 Fair Market Value X Advertising 1 50904 Fair Market Value X Printing 1 16333 Fair Market Value X Wine Sponsor 1 27150 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: David W. Fox, Sr., David W. Fox, Jr. Business Relationship 1: Gregory C. Case, R. Eden Martin, John W. Rogers, Jr., Gloria Santona Business Relationship 2: Frank M. Clark, Ellen M. Costello Business Relationship 3: Susan Crown (relative of James S. Crown), David B. Speer Business Relationship 4: Debora de Hoyos, Judith W. McCue, John R. Schmidt Business Relationship 5: John W. Rogers, Jr., Gloria Santona, Roger W. Stone Business Relationship 6: James J. O'Connor, John W. Rogers, Jr. Business Relationship 7: Michelle L. Collins, Frederick A. Krehbiel Business Relationship 8: James S. Crown, David W. Fox, Jr. Business Relationship 9: R. Eden Martin, Russ M. Strobel Business Relationship 10: Susan Crown (relative of James S. Crown), William A. Osborn Business Relationship 11: Charles W. Douglas, Debora de Hoyos, R. Eden Martin, Richard B. Kapnick, Newton N. Minow Business Relationship 12: William A. Osborn, Helen Zell Business Relationship 13: James J. O'Connor, Peter D. McDonald Business Relationship 14: 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 2009 Form 990 and Form 990-T were reviewed and approved at the April 25, 2011 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 May 11, 2009, of the Administrative Personnel Committee, which was comprised of three independent trustees and two non-trustees. It was determined that the study of executive compensation be deferred, in light of a wage freeze for all administrative staff including executives as well as the President. It was stated that CSOA executive salaries were in line with past survey data. These items were documented in the minutes of the meeting. The process for determining the compensation of other officers or key employees included a meeting on May 11, 2009, of the Administrative Personnel Committee, which was comprised of three independent trustees and two non-trustees. It was determined that the study of executive compensation be deferred, in light of a wage freeze for all administrative staff including executives as well as the President. It was stated that CSOA executive salaries were in line with past survey data. These items 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. The process of oversight of the financial statements and selection of an independent accountant performed by the Audit Committee has not changed from the prior fiscal year. 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 II, Line 5, Column A: This amount consists of $722,486.67 for costs of issuance and $308,119.95 for costs to provide a qualified guarantee pursuant to Treas. Reg. Section 1.148-4(f). Part II, Line 6, Column A: This amount was used to pay capitalized interest pursuant to Treas. Reg. Section 1.148-6(d)(3)(ii)(A)(3).