Civic Intelligence

The Solti Foundation Us Co Fiona Queen Music Institute of Chgo

990 • Fiscal year 2020 • EIN 30-0004328

Jan 01, 2020 to Dec 31, 2020 • Filed on Aug 04, 2021

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.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

27th percentile

0.00x

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

44th percentile

3.2%

Higher net margin than 44% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

33rd percentile

-0.2%

Faster asset growth than 33% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

28th percentile

-19%

Faster revenue growth than 28% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets27th percentile

Assets

Down

$920,155

Down $1,983 (-0.2%) from 2019

Net Assets

Up

$920,155

Up $7,017 (+0.8%) from 2019

Liabilities

Down

$0

Down $9,000 (-100%) from 2019

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin44th percentile

Revenue

Down

$220,260

Down $52,774 (-19%) from 2019

Expenses

Up

$213,243

Up $39,342 (+23%) from 2019

Net Income

Down

$7,017

Down $92,116 (-93%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth33rd 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

2020

Assets$920,155
Liabilities$0
Net Assets$920,155
Open 2020 Filing

Operations Trend

Revenue Growth28th 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

2020

Revenue$220,260
Expenses$213,243
Net Income$7,017
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Aug 4, 2021
Return Version
2020v4.0
Gross Receipts
$220,260
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$913,138$920,155▲ $7,017
Investments in Publicly Traded Securities$906,938$869,757▼ $37,181
Pledges and Grants Receivable$15,200$50,300▲ $35,100
Cash and Non-Interest-Bearing Accounts-$98-
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$922,138$920,155▼ $1,983
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$9,000--
Total Liabilities$9,000$0▼ $9,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$913,138$920,155▲ $7,017
Total Liabilities and Net Assets / Fund Balance$922,138$920,155▼ $1,983
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
See attached listDirectors
See attached listOfficers
Revenue and Support

Revenue Composition

Contributions and Grants
$119,014
Program Service Revenue
$0
Investment Income
$21,155
Other Revenue
$80,091
Change in Net Assets
$7,017
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$164,000
Other Expenses$26,098
Salaries, Compensation, and Employee Benefits$23,145
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$164,000--$164,000
Other Salaries and Wages-$21,500-$21,500
Advertising-$9,192-$9,192
Fees for Services Accounting-$4,458-$4,458
Fees for Service Investment Mgmnt Fees-$4,260-$4,260
Fees for Services Other-$2,212-$2,212
Payroll Taxes-$1,645-$1,645
Office Expenses-$1,037-$1,037
Other Expenses-$282-$282
Total Functional Expenses$164,000$49,243$0$213,243
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Remote 2020$119,014---
Total Events$119,014---
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
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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 11B: Form 990 Review Process

“The books of the organization are complied by Thulin & Associates, Inc. Form 990 is reviewed by the officers 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
2021-08-04
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
Raw XML Appendix398 raw XML fields

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/Desc0On May 15, 2020 Foundation Board Chair Penny Van Horn and Elizabeth Buccheri, Artistic and Awards Committee Chair, released the names of the young conductors who have been selected as 2020 recipients of The Sir Georg Solti Career Assistance Award.One of Sir Georgs favorite things to do was to work with young musicians, stated Ms. Van Horn. This is the impetus for The Solti Foundation U.S.s focus in assisting young conductors. Sir Georgs wife, Lady Valerie Solti, has said, He was always willing to take time to talk to them, give advice about their careers and often helped them financially. He never ceased to be grateful for the help he received from others during the bleak days before he found work.'Remembering this, the members of the Board and the Artistic and Awards Committee wanted to do something extra special to commemorate the 20th anniversary of The Solti Foundation U.S., said Ms. Buccheri. While we hope to be able to hold a celebratory event in Chicago later this year, with the uncertainty of COVID-19, we thought it more fitting to begin the celebration now, when a ray of sunlight truly warms the spirit.It is therefore, with great pleasure, that we announce a special 20th Anniversary edition of the Solti Foundation Career Assistance Awards, added Ms. Van Horn. In keep with Sir Georgs magnanimous spirit and generosity, the Solti Foundation U.S. happily announces the awarding of 19 Career Assistance Awards, the largest number ever given by the Foundation in a single year! These 19 awards, when added to the Solti Fellow announced earlier this year, total 20 awards to match our 20 years!Ranging in age from 25 to 36, this years recipients hold posts throughout the United States, in Canada, and in Switzerland, and are frequent guest conductors on both the national and international stages.Receiving a 2020 Career Assistance Award (in alphabetical order) are conductors:Tiffany Chang,Visiting Assistant Professor of Conducting, artist faculty, Oberlin Conservatory and Assistant Professor, Berklee College of Music; Holly Choe, Music Director, Orchesterverein Wiedikon, Music Director, University of St. Gallen Alumni Symphony Orchestra; Maurice Cohn, Music Director, New Horizons Orchestra and Assistant Conductor, Eastman School Symphony Orchestra; Conner Gray Covington, Associate Conductor, Utah Symphony and Principal Conductor, Deer Valley Music Festival; Andrew Crust, Associate Conductor, Vancouver Symphony Orchestra; Kevin Fitzgerald, Assistant Conductor, Alabama Symphony Orchestra; Lina Gonzalez-Granados, Solti Conducting Apprentice, Chicago Symphony Orchestra; Keitaro Harada, Music & Artistic Director, Savannah Philharmonic; Jonathon Heyward, Chief Conductor Designate, Nordwestdeutsche Philharmonie; Joshua Hong, Music Director, Campanile Orchestra; Jacob Joyce, Associate Conductor, Indianapolis Symphony; Roger Kalia, Music Director, Evansville Philharmonic, Symphony NH, Orchestra Santa Monica, Pacific Symphony Youth Orchestra, the Lake George Music Festival and Associate Conductor, Pacific Symphony; Matthew Kasper, Resident Conductor, The Phoenix Symphony and Artistic Director, Phoenix Youth Symphony; Lee Mills, Associate Conductor, Seattle Symphony Stephen Mulligan, Associate Conductor, Atlanta Symphony Orchestra and Music Director, Atlanta Symphony Youth Orchestra; Gemma New, Music Director, Hamilton Philharmonic Orchestra, Resident Conductor, St. Louis Symphony Orchestra, Music Director, St. Louis Symphony Youth Orchestra, and Principal Guest Conductor, Dallas Symphony Orchestra; Michael Repper, Music Director, New York Youth Symphony and Northern Neck Orchestra of Virginia; Stefano Sarzani, international guest conductor; Kensho Watanabe, international guest conductor.
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IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt030341
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0102123
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt049660
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IRS990ScheduleA/InvestmentIncomeCYPct00.24570
IRS990ScheduleA/InvestmentIncomePYPct00.22990
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0158824
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0120916
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IRS990ScheduleG/MailSolicitationsInd0X
IRS990ScheduleG/PhoneSolicitationsInd0X
IRS990ScheduleG/SpecialFundraisingEventsInd0X
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0164000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Educational
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0None
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt024
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/ExplanationTxt0The books of the organization are complied by Thulin & Associates, Inc. Form 990 is reviewed by the officers of the organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Disclosure is made via filings with IRS and Illinois Attorney General
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01555 Sherman Avenue 310
IRS990/USAddress/CityNm0Evanston
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IRS990/USAddress/ZIPCd060201
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IRS990/VotingMembersIndependentCnt020
IRS990/WebsiteAddressTxt0http://www.soltifoundation.us/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GRETCHEN ZOOK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER/Dir
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-08-04
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
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Naperville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060540
ReturnHeader/PreparerPersonGrp/PhoneNum06308544535
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Martin Van Acker
ReturnHeader/ReturnTs02021-08-04T11:05:06-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0GRETCHEN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ZOOK
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$920,155
Liabilities
$0
Net assets
$920,155
Revenue
$220,260
Expenses
$213,243
Net income
$7,017
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