Civic Intelligence

The Solti Foundation Us Co Fiona Queen Music Institute of Chgo

990 • Fiscal year 2016 • EIN 30-0004328

Jan 01, 2016 to Dec 31, 2016 • Filed on May 30, 2017

Organization Profilewww.soltifoundation.us
1555 Sherman AvenueEvanston, IL 60201

(847) 448-8329

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

26th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

26th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

74th percentile

16%

Higher net margin than 74% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

55th percentile

3.3%

Faster asset growth than 55% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

31st percentile

-6.0%

Faster revenue growth than 31% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets26th percentile

Assets

Up

$827,699

Up $26,460 (+3.3%) from 2015

Net Assets

Up

$827,699

Up $26,460 (+3.3%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin74th percentile

Revenue

Down

$170,576

Down $10,809 (-6.0%) from 2015

Expenses

Down

$144,116

Down $25,697 (-15%) from 2015

Net Income

Up

$26,460

Up $14,888 (+129%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2014: $789,667Liabilities 2014: $0Net Assets 2014: $789,6672014Assets 2015: $801,239Liabilities 2015: $0Net Assets 2015: $801,2392015Assets 2016: $827,699Liabilities 2016: $0Net Assets 2016: $827,6992016Assets 2017: $897,420Liabilities 2017: $10,532Net Assets 2017: $886,8882017Assets 2018: $814,005Liabilities 2018: $0Net Assets 2018: $814,0052018Assets 2019: $922,138Liabilities 2019: $9,000Net Assets 2019: $913,1382019Assets 2020: $920,155Liabilities 2020: $0Net Assets 2020: $920,1552020Assets 2021: $1,039,096Liabilities 2021: $1,233Net Assets 2021: $1,037,8632021Assets 2022: $834,814Liabilities 2022: $6,302Net Assets 2022: $828,5122022Assets 2023: $817,475Liabilities 2023: $12,637Net Assets 2023: $804,8382023Assets 2024: $794,477Liabilities 2024: $4,611Net Assets 2024: $789,8662024

Highlighted filing

2016

Assets$827,699
Liabilities$0
Net Assets$827,699
Open 2016 Filing

Operations Trend

Revenue Growth31st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$200K$0-$200K-$400KRevenue 2014: $221,032Expenses 2014: $136,313Net Income 2014: $84,7192014Revenue 2015: $181,385Expenses 2015: $169,813Net Income 2015: $11,5722015Revenue 2016: $170,576Expenses 2016: $144,116Net Income 2016: $26,4602016Revenue 2017: $222,787Expenses 2017: $163,598Net Income 2017: $59,1892017Revenue 2018: $99,308Expenses 2018: $172,191Net Income 2018: -$72,8832018Revenue 2019: $273,034Expenses 2019: $173,901Net Income 2019: $99,1332019Revenue 2020: $220,260Expenses 2020: $213,243Net Income 2020: $7,0172020Revenue 2021: $322,849Expenses 2021: $205,141Net Income 2021: $117,7082021Revenue 2022: $31,915Expenses 2022: $241,266Net Income 2022: -$209,3512022Revenue 2023: $288,305Expenses 2023: $261,633Net Income 2023: $26,6722023Revenue 2024: $268,811Expenses 2024: $257,687Net Income 2024: $11,1242024

Highlighted filing

2016

Revenue$170,576
Expenses$144,116
Net Income$26,460
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 30, 2017
Return Version
2016v3.0
Gross Receipts
$347,262
Mission and Program Overview

Mission

The Solti Foundation U.S. was established after the 1997 death of Sir Georg Solti. Its mission is to assist talented young American musicians at the start of their professional careers. It has made annual grants to awardees since 2003.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$801,239$827,699▲ $26,460
Investments in Publicly Traded Securities$801,160$814,254▲ $13,094
Pledges and Grants Receivable-$13,200-
Cash and Non-Interest-Bearing Accounts-$244-
Prepaid Expenses and Deferred Charges$79$0▼ $79
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$801,239$827,699▲ $26,460
Other Assets Total-$1-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$801,239$827,699▲ $26,460
Total Liabilities and Net Assets / Fund Balance$801,239$827,699▲ $26,460
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
See attached listDirectors
See attached listOfficers
Revenue and Support

Revenue Composition

Contributions and Grants
$120,916
Program Service Revenue
$0
Investment Income
$19,274
Other Revenue
$30,386
All Other Contributions
$11,080
Change in Net Assets
$26,460
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$73,500
Other Expenses$51,239
Salaries, Compensation, and Employee Benefits$19,377
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$73,500--$73,500
Other Salaries and Wages-$18,000-$18,000
Advertising-$9,939-$9,939
Fees for Services Accounting-$8,406-$8,406
Travel-$4,154-$4,154
Fees for Service Investment Mgmnt Fees-$3,290-$3,290
Office Expenses-$2,102-$2,102
Other Expenses$5,000$1,545-$1,545
Payroll Taxes-$1,377-$1,377
Information Technology-$1,275-$1,275
All Other Expenses-$997-$997
Total Functional Expenses$93,031$51,085$0$144,116
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$35,514
Fundraising Gross Income$35,514
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
9/21/2016$145,350$35,514$35,514$0
Total Events$145,350$35,514$35,514-
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Valerie solti & gabrielle solti are directors”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 is reviewed by the Treasurer of the organization.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Disclosure is made via filings with IRS and Illinois Attorney General”

Filing and Contact Details

Filer

Filer Name
The Solti Foundation US
EIN
30-0004328
Phone
8474488329
Address
1555 Sherman Avenue, Evanston, IL 60201

Signing Officer

Name
Gretchen Zook
Title
TREASURER/Director
Signed
2017-05-30
Discuss with paid preparer
Yes

Organization Details

Formed
2000
Legal Domicile
Il
Voting Board Members
27
Independent Board Members
27
Employees
1
Volunteers
30

Preparer

Firm
Van Acker & Associates Ltd
Address
6S251 New Castle Road, Naperville, IL 60540
Preparer
Martin Van Acker
Phone
6308544535
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0Sir Georg was conductor of the Chicago Symphony Orchestra from 1969-1991 and laureate conductor until 1997. The much loved and revered Solti is remembered by his many friends and associates not only in Chicago, but throughout the world. The Solti Foundation U.S. was established to honor the memory of the legendary conductor Sir Georg Solti and his dedication to helping young artists. The Solti Foundation U.S. announced the largest number of recipients to receive a Solti Foundation Career Assistance Award by the organization in one year, surpassing last years nine awards and bringing the number of such grants given by the Foundation in its twelve year history to 46. This years recipients hold positions throughout the United States with orchestra and opera posts in Arizona, California, DC, Iowa, Michigan, New York, Ohio, Philadelphia, Texas, Virginia, and Wisconsin.In making the announcement, Penny Van Horn, Solti Foundation U.S. Board Chair, congratulated the 2016 recipients: Christopher Allen, John L. Magro Resident Conductor, Cincinnati Opera, and Associate Conductor, Los Angeles Opera; Gene Chang, Assistant Conductor, Cincinnati Symphony Orchestra, and Music Director, Cincinnati Symphony Youth Orchestra; Ankush Kumar Bahl, Assistant Conductor, National Symphony Orchestra (four year tenure just completed); Joshua Gersen, Assistant Conductor, New York Philharmonic, and Music Director, New York Youth Symphony; Daniel Black, Assistant Conductor, and Rae and Ed Schollmaier Foundation Chair, Fort Worth Symphony Orchestra, and Music Director of the Oshkosh Symphony Orchestra; Keitaro Harada, Associate Conductor, Cincinnati Symphony Orchestra, Associate Conductor, Arizona Opera, and Associate Conductor, Richmond (VA) Symphony Orchestra; Yaniv Dinur, Assistant Conductor, The Milwaukee Symphony Orchestra; Stefano Sarzani, Assistant Conductor, Des Moines Metro Opera; Stilian Kirov, Music Director, Symphony in C (Philadelphia, PA), and Music Director, Bakersfield Symphony Orchestra; Michelle Merrill, Assistant Conductor and Phillip and Lauren Fisher Community Ambassador, Detroit Symphony Orchestra; and Sameer Patel, Assistant Conductor, The San Diego Symphony Orchestra.She noted that there were several previous awardees amongst the recipients, stating, The mission of the Solti Foundation U.S. is to identify, support and promote emerging young American conductors as they launch their classical careers. The Foundation is always interested in the long term development of our awardees. We nurture relationships with all our recipients, tracking their progress and offering support when it is merited. We also provide continuing support not only in the form of grants but in valuable access to mentors, door opening introductions and opera residencies.Opera Residency ProgramIntroduced in the 2014-15 season, the program places former award recipients with a distinguished opera house for one-on-one mentoring and coaching of an opera during the companys professional season. Conductors cannot apply, but are instead selected by the Artistic and Awards Committee.The Foundation is currently the only American Foundation to grant these kinds of awards each year to young American conductors. Citizens or permanent residents of the United States who are career-ready artists in the field of conducting are eligible to apply.Applicants for all Solti Foundation U.S. awards must be able to demonstrate that he/she is developing a career as a symphonic/operatic conductor. All applications from The Sir Georg Solti Conducting Award are considered for a Solti Foundation U.S. Career Assistance Award. Applications are reviewed by an awards committee comprised of a panel of professionals with broad musical and conducting experience. The Foundation reserves the right to withhold a grant in any given year if the Awards Committee does not find suitable applicants in one or more of the various award categories.Evanston, IL Penny Van Horn, Board Chair of The Solti Foundation
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt07250
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt030349
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt012467
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt06732
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0137000
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt060477
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0563479
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
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IRS990ScheduleA/InvestmentIncomeCYPct00.12000
IRS990ScheduleA/InvestmentIncomePYPct00.06790
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt0860
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt0600
IRS990ScheduleA/OtherIncome509Grp/TotalAmt01460
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/PublicSupportCY509Pct00.87840
IRS990ScheduleA/PublicSupportPY509Pct00.93050
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0184250
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0179980
IRS990ScheduleA/Total509Grp/TotalAmt0779595
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0170576
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0145121
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0188387
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0196717
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0186712
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0887513
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleG/EmailSolicitationsInd0X
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt0109836
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt0109836
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt035514
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm09/21/2016
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0145350
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0145350
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt035514
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt035514
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt035514
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt035514
IRS990ScheduleG/InPersonSolicitationsInd0X
IRS990ScheduleG/MailSolicitationsInd0X
IRS990ScheduleG/PhoneSolicitationsInd0X
IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt073500
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Educational
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0None
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt014
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0N/A
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0ALL AWARDEES ARE REQUIRED TO FURNISH THE FOUNDATION WITH A BRIEF REPORT CONCERNING USE OF GRANT FUNDS
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VALERIE SOLTI & GABRIELLE SOLTI ARE DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 is reviewed by the Treasurer of the organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Disclosure is made via filings with IRS and Illinois Attorney General
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TotalLiabilitiesEOYAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt00
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IRS990/TotalProgramServiceRevenueAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0170576
IRS990/TotalVolunteersCnt030
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0801239
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0827699
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ManagementAndGeneralAmt04154
IRS990/TravelGrp/TotalAmt04154
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt027
IRS990/VotingMembersIndependentCnt027
IRS990/WebsiteAddressTxt0http://www.soltifoundation.us/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GRETCHEN ZOOK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER/Dir
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE SOLTI FOUNDATION US
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CO Fiona Queen Music Institute of Chgo
ReturnHeader/Filer/BusinessNameControlTxt0SOLT
ReturnHeader/Filer/EIN0300004328
ReturnHeader/Filer/PhoneNum08474488329
ReturnHeader/Filer/USAddress/AddressLine1Txt01555 Sherman Avenue
ReturnHeader/Filer/USAddress/CityNm0Evanston
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$827,699
Liabilities
$0
Net assets
$827,699
Revenue
$170,576
Expenses
$144,116
Net income
$26,460
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.79$0.00$0.79$0.27$0.26$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.82$0.01$0.80$0.29$0.26$0.03
2022Detailed filing. Detailed filing data is available for this year.$0.83$0.01$0.83$0.03$0.24$0.21
2021Detailed filing. Detailed filing data is available for this year.$1.04$0.00$1.04$0.32$0.21$0.12
2020Detailed filing. Detailed filing data is available for this year.$0.92$0.00$0.92$0.22$0.21$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.92$0.01$0.91$0.27$0.17$0.10
2018Detailed filing. Detailed filing data is available for this year.$0.81$0.00$0.81$0.10$0.17$0.07
2017Detailed filing. Detailed filing data is available for this year.$0.90$0.01$0.89$0.22$0.16$0.06
2016Detailed filing. Detailed filing data is available for this year.$0.83$0.00$0.83$0.17$0.14$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.80$0.00$0.80$0.18$0.17$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.79$0.00$0.79$0.22$0.14$0.08