Civic Intelligence

Illinois Symphony Orchestra Endowment Fund Inc.

990 • Fiscal year 2019 • EIN 30-0216505

Jul 01, 2018 to Jun 30, 2019 • Filed on Dec 23, 2019

3 W Old State Capitol PlazaSpringfield, IL 62701

(217) 522-2838

Siviq Scores

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

Liabilities / Assets

23rd percentile

0.00x

Higher debt load relative to assets than 23% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

56th percentile

0.12x

Higher debt load relative to revenue than 56% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

77th percentile

20%

Higher net margin than 77% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

50th percentile

2.9%

Faster asset growth than 50% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-94%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$1,063,951

Up $29,951 (+2.9%) from 2018

Net Assets

Up

$1,059,662

Up $30,324 (+2.9%) from 2018

Liabilities

Down

$4,289

Down $373 (-8.0%) from 2018

Revenue

Down

$35,907

Down $530,370 (-94%) from 2018

Expenses

Up

$28,829

Up $2,712 (+10%) from 2018

Net Income

Down

$7,078

Down $533,082 (-99%) from 2018

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2015: $479,274Liabilities 2015: $5,500Net Assets 2015: $473,7742015Assets 2016: $451,864Liabilities 2016: $5,625Net Assets 2016: $446,2392016Assets 2017: $499,172Liabilities 2017: $5,625Net Assets 2017: $493,5472017Assets 2018: $1,034,000Liabilities 2018: $4,662Net Assets 2018: $1,029,3382018Assets 2019: $1,063,951Liabilities 2019: $4,289Net Assets 2019: $1,059,6622019Assets 2020: $1,054,816Liabilities 2020: $5,200Net Assets 2020: $1,049,6162020Assets 2021: $1,334,822Liabilities 2021: $2,625Net Assets 2021: $1,332,1972021Assets 2022: $1,133,504Liabilities 2022: $0Net Assets 2022: $1,133,5042022Assets 2023: $1,155,432Liabilities 2023: $4,600Net Assets 2023: $1,150,8322023Assets 2024: $1,332,596Liabilities 2024: $215,737Net Assets 2024: $1,116,8592024

Highlighted filing

2019

Assets$1,063,951
Liabilities$4,289
Net Assets$1,059,662

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2015: $47,105Expenses 2015: $22,000Net Income 2015: $25,1052015Revenue 2016: $20,736Expenses 2016: $30,500Net Income 2016: -$9,7642016Revenue 2017: $18,495Expenses 2017: $22,500Net Income 2017: -$4,0052017Revenue 2018: $566,277Expenses 2018: $26,117Net Income 2018: $540,1602018Revenue 2019: $35,907Expenses 2019: $28,829Net Income 2019: $7,0782019Revenue 2020: $134,128Expenses 2020: $32,570Net Income 2020: $101,5582020Revenue 2021: $73,122Expenses 2021: $44,545Net Income 2021: $28,5772021Revenue 2022: $130,402Expenses 2022: $45,922Net Income 2022: $84,4802022Revenue 2023: $12,303Expenses 2023: $55,729Net Income 2023: -$43,4262023Revenue 2024: $33,617Expenses 2024: $52,893Net Income 2024: -$19,2762024

Highlighted filing

2019

Revenue$35,907
Expenses$28,829
Net Income$7,078
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Dec 23, 2019
Return Version
2018v3.1
Gross Receipts
$278,300
Mission and Program Overview

Mission

To provide support to Illinois Symphony Orchestra, Inc. in order to further its exempt purpose

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,033,776$1,063,951▲ $30,175
Savings and Temporary Cash Investments$224$0▼ $224
Cash and Non-Interest-Bearing Accounts-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$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$1,034,000$1,063,951▲ $29,951
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$4,662$4,289▼ $373
Total Liabilities$4,662$4,289▼ $373
Net Assets / Fund Balance
Unrestricted Net Assets$519,781$542,543▲ $22,762
Permanently Rstr Net Assets$496,364$496,364→ $0
Temporarily Rstr Net Assets$13,193$20,755▲ $7,562
Total Net Assets Fund Balance$1,029,338$1,059,662▲ $30,324
Total Liabilities and Net Assets / Fund Balance$1,034,000$1,063,951▲ $29,951

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$1,029,338-▲ $52,482-$1,063,951
2017$493,547$524,353▲ $37,555-$1,029,338
2016$446,239$7,500▲ $62,308-$493,547
2015$473,774-▲ $2,260-$446,239
2014$449,282-▲ $46,492-$473,774
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dennis SteelePresident
Drew DavisBoard Member
Kathryn RansomBoard Member
Ralph TurnerBoard Member
Richard CheaneyBoard Member
Roger HuntDirector
Carole RingerSec./Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$35,907
Other Revenue
$0
Change in Net Assets
$7,078

Audited Revenue Reconciliation

Revenue per Audited Statements
$35,907
Revenue Not Reported on Form 990
$16,575
Total Revenue per Audited Statements
$52,482
Total Revenue per Form 990
$35,907
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$22,158
Other Expenses$6,671
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$22,158--$22,158
Fees for Service Investment Mgmnt Fees-$6,671-$6,671
Total Functional Expenses$22,158$6,671$0$28,829

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$28,829
Expenses per Audited Statements$22,158
Total Expenses per Audited Statements$22,158
Expenses Not Reported on Financial Statements$6,671
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
IL Symphony Orchestra IncSpringfield, IL--$22,158
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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
Audit committee
No
Backup withholding compliance
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The Form 990 was reviewed by the Treasurer, Audit Committee, and Executive Committee.

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

The Organization makes its annual audited financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Illinois Symphony Orchestra
EIN
30-0216505
Phone
2175222838
Address
3 W Old State Capitol Plaza, Springfield, IL 62701

Signing Officer

Name
Dennis Steele
Title
President
Signed
2019-12-23
Discuss with paid preparer
Yes

Organization Details

Legal Domicile
Il
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Striegel Knobloch & Company LLC CPAs
Address
115 W Jefferson Suite 200, Bloomington, IL 61701-3946
Preparer
Benjamin J Smith
Phone
3098294303
Supplemental Narrative

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

To provide support to Illinois Symphony Orchestra, Inc. in order to further its exempt purpose

Part X : FIN48 Footnote

The Organization has adopted the accounting standards for uncertainty in income taxes. This guidance prescribes a comprehensive model for financial statement recognition, measurement, classification, and disclosures of uncertain tax positions. The implementation of the standards had no net effect on net assets.The Organization has recognized in the financial statements the effect of all tax positions and continually evaluates expiring statutes of limitations, audits, changes in tax law, and new authoritative rulings. The Organization is not aware of any circumstances or events that make it reasonably possible that any unrecognized tax benefits may increase or decrease within 12 months of the statement of financial position date. Penalties and interest assessed by taxing authorities are included in the Organization's expenses, if applicable. The Organization files an exempt organization return in the federal jurisdiction and Illinois state returns. The returns prior to 2016 are closed.

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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Illinois Symphony Orchestra Inc
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0To provide support to Illinois Symphony Orchestra, Inc. in order to further its exempt purpose
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Organization has adopted the accounting standards for uncertainty in income taxes. This guidance prescribes a comprehensive model for financial statement recognition, measurement, classification, and disclosures of uncertain tax positions. The implementation of the standards had no net effect on net assets.The Organization has recognized in the financial statements the effect of all tax positions and continually evaluates expiring statutes of limitations, audits, changes in tax law, and new authoritative rulings. The Organization is not aware of any circumstances or events that make it reasonably possible that any unrecognized tax benefits may increase or decrease within 12 months of the statement of financial position date. Penalties and interest assessed by taxing authorities are included in the Organization's expenses, if applicable. The Organization files an exempt organization return in the federal jurisdiction and Illinois state returns. The returns prior to 2016 are closed.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4: Intended uses of the endowment fund.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X : FIN48 Footnote
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0IL Symphony Orchestra Inc
IRS990ScheduleI/RecipientTable/RecipientEIN0371312674
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt03 W Old State Capitol Plaza 1
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Springfield
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IL
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd062701
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Form 990 was reviewed by the Treasurer, Audit Committee, and Executive Committee.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Organization makes its annual audited financial statements available to the public upon request.
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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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Illinois Symphony Orchestra Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0371312674
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0To encourage the appreciation of music.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0509(a)(2)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0524 1/2 East Capitol Avenue
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Springfield
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0IL
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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt022158
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Illinois Symphony Orchestra Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0b
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