Civic Intelligence

The Solti Foundation Us Co Fiona Queen Music Institute of Chgo

990 • Fiscal year 2018 • EIN 30-0004328

Jan 01, 2018 to Dec 31, 2018 • Filed on May 17, 2019

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

27th percentile

0.00x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

27th percentile

0.00x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

4th percentile

-73%

Higher net margin than 4% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

18th percentile

-9.3%

Faster asset growth than 18% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

4th percentile

-55%

Faster revenue growth than 4% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets27th percentile

Assets

Down

$814,005

Down $83,415 (-9.3%) from 2017

Net Assets

Down

$814,005

Down $72,883 (-8.2%) from 2017

Liabilities

Down

$0

Down $10,532 (-100%) from 2017

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin4th percentile

Revenue

Down

$99,308

Down $123,479 (-55%) from 2017

Expenses

Up

$172,191

Up $8,593 (+5.3%) from 2017

Net Income

Down

-$72,883

Down $132,072 (-223%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth18th 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

2018

Assets$814,005
Liabilities$0
Net Assets$814,005
Open 2018 Filing

Operations Trend

Revenue Growth4th 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

2018

Revenue$99,308
Expenses$172,191
Net Income-$72,883
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 17, 2019
Return Version
2018v3.1
Gross Receipts
$205,152
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$886,888$814,005▼ $72,883
Investments in Publicly Traded Securities$888,725$790,155▼ $98,570
Pledges and Grants Receivable$8,500$23,850▲ $15,350
Cash and Non-Interest-Bearing Accounts$195$0▼ $195
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-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$897,420$814,005▼ $83,415
Other Assets Total-$0-
Liabilities
Other Liabilities$10,532--
Total Liabilities$10,532$0▼ $10,532
Net Assets / Fund Balance
Total Net Assets Fund Balance$886,888$814,005▼ $72,883
Total Liabilities and Net Assets / Fund Balance$897,420$814,005▼ $83,415
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
See attached listDirectors
See attached listOfficers
Revenue and Support

Revenue Composition

Contributions and Grants
$140,456
Program Service Revenue
$0
Investment Income
$30,341
Other Revenue
$-71,489
Change in Net Assets
$-72,883
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$100,500
Other Expenses$52,314
Salaries, Compensation, and Employee Benefits$19,377
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$100,500--$100,500
Other Salaries and Wages-$18,000-$18,000
Travel-$9,313-$9,313
Advertising-$8,248-$8,248
Fees for Services Accounting-$4,376-$4,376
Fees for Service Investment Mgmnt Fees-$4,114-$4,114
Fees for Services Other-$1,965-$1,965
All Other Expenses-$1,789-$1,789
Information Technology-$1,381-$1,381
Payroll Taxes-$1,377-$1,377
Other Expenses$9,000$1,200-$1,200
Total Functional Expenses$119,076$53,115$0$172,191
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$30,844
Fundraising Gross Income$30,844
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Solti Night 18$171,300$30,844-$30,844
Total Events$171,300$30,844$30,844-
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
2019-05-17
Discuss with paid preparer
Yes

Organization Details

Formed
2000
Legal Domicile
Il
Voting Board Members
20
Independent Board Members
20
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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IRS990/Desc0Sir Georg Solti 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. Penny Van Horn, Board Chair of The Solti Foundation U.S. and Elizabeth Buccheri, Artistic and Awards Committee Chair, announced the names of the eight recipients of the 2018 Solti Foundation Career Assistance Awards. The young conductors hold positions throughout the United States, with posts in Arkansas, California, Florida, Georgia, Idaho, Illinois, New Jersey, and New York."Supporting and encouraging young conductors at the beginning of their careers is the mission of The Solti Foundation U.S.," said Ms. Van Horn. "As I have stated in the past, the young musicians we recognize are part of the fabric of our future musical landscape. From what we have seen and heard, it is going to be a glorious, immense vista, full of creativity, energy and passion! We congratulate each of our 2018 awardees."Ms. Van Horn revealed Daniel Black, Assistant Conductor, Florida Orchestra (commencing fall 2018); Roger Kalia, Assistant Conductor of Pacific Symphony and Music Director of Pacific Symphony Youth Orchestra, and Co-Founder and Music Director of the Lake George Music Festival (NY); Stilian Kirov, Music Director of the Illinois Philharmonic, Bakersfield Symphony (CA), and New Jersey's Symphony in C; Farkhad Khudyev, Music Director of Calilfornia's Hidden Valley Orchestra Institute and Youth Music Monterey County; Stephen Mulligan, Assistant Conductor of the Atlanta Symphony Orchestra and Music Director of the Atlanta Symphony Youth Orchestra; Sameer Patel, Associate Conductor of the San Diego Symphony Orchestra and of Idaho's Sun Valley Summer Symphony; Stefano Sarzani, who returns to the Lyric Opera of Chicago this season as an Assistant Conductor and member of the Music Staff; and Lidiya Yankovskaya, Music Director with Chicago Opera Theater, a resident artist at National Sawdust in NYC, and Artistic Director of Refugee Orchestra Project as the 2018 Award recipients.Now in its 14th year of assisting outstanding young U.S. conductors to further develop their talent and careers, The Solti Foundation U.S. is the foremost organization in the United States dedicated exclusively to helping young conductors. Established in 2000 to honor the memory of Sir Georg Solti by lending significant support to career-ready young American musicians, in 2004, the Foundation concentrated the focus of its award program to exclusively assist talented young American conductors early in their professional careers (its original mission was of a more general arts nature). Since then, it has awarded over $500,000 in grants to American conductors.In the words of Lady Valerie Solti, "We are committed to realizing Solti's passion for excellence in music by extending assistance to further the early careers of those with exceptional talent." The Foundation endeavors to seek out those musicians who have chosen to follow a path similar to that followed by Sir Georg himself. In keeping with the spirit of Sir Georg's active approach to his career, young conductors must apply to be considered for the awards.While dedicated to identifying and assisting young conductors early on, the Foundation is also concerned with the long-term development of its award recipients, continuing to offer support and maintaining a constant interest in their growth and achievements. The Foundation currently awards the following grants annually:The Sir Georg Solti Conducting Award. The largest grant currently given to American conductors in the formative years of their careers, the prestigious $30,000 grant is given annually to a single promising American conductor 38 years of age or younger. The Award, also kno
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IRS990ScheduleA/InvestmentIncomePYPct00.20990
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0100500
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Educational
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0None
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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/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01555 Sherman Avenue 310
IRS990/USAddress/CityNm0Evanston
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060201
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IRS990/WebsiteAddressTxt0http://www.soltifoundation.us/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GRETCHEN ZOOK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER/Dir
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-17
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
ReturnHeader/Filer/USAddress/ZIPCd060201
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0454370453
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Van Acker & Associates Ltd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06S251 New Castle Road

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$814,005
Liabilities
$0
Net assets
$814,005
Revenue
$99,308
Expenses
$172,191
Net income
-$72,883
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