Chicago Symphony Orchestra

Analysis

Chicago Symphony Orchestra is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in February 1927, 99 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Chicago Symphony Orchestra reported income of $80.8m and spending of $85.6m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $72.1m to $80.8m (+12%), an average of +2.9% a year. The sharpest change came in the year to June 2021, when income rose by 49%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Chicago Symphony Orchestra sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IL. Charities of a similar size with the same main cause include New Jersey Performing Arts Center Corporation ($80.4m), Los Angeles County Museum of Natural History Foundation ($81.6m) and World Trade Center Performing Arts Center Inc ($79.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 30% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $2.1m (2.4% of expenses). Other salaries and wages came to $39.8m. It paid $285k in professional fundraising fees. At year end it held assets of $515.2m against liabilities of $172.4m, net assets of $342.8m. It reported 1,140 employees.