Chicago Symphony Orchestra

“Business Relationship 1: John W. Rogers, Jr., William A. Von Hoene, Jr. Business Relationship 2: James S. Crown, William A. Osborn Business Relationship 3: Susan Crown (relative of James S. Crown), E. Scott Santi, Pamela B. Strobel (spouse of Russ M. Strobel) Business Relationship 4: Timothy A. Duffy, Richard C. Godfrey Business Relationship 5: Debora de Hoyos, John R. Schmidt Business Relationship 6: John W. Rogers, Jr., Roger W. Stone Business Relationship 7: Frederick A. Krehbiel, Donald G. Lubin Business Relationship 8: Susan Crown (relative of James S. Crown), Susan C. Levy, Jose Luis Prado, Charles A. Tribbett, Frederick H. Waddell Business Relationship 9: Walter Carlson (spouse of Debora de Hoyos) Charles W. Douglas, R. Eden Martin, Newton N. Minow Business Relationship 10: Susan Kiphart, James W. Mabie Business Relationship 11: Frank M. Clark, W. Robert Reum Business Relationship 12: Wayne D. Boberg, Liisa M. Thomas”

“The members of the Chicago Symphony Orchestra (the "Corporation") are designated as Governing Members. Governing Members are elected from among persons who have demonstrated a significant interest in the CSO and who meet such additional criteria as the Board of Trustees may from time to time determine.”

“Governing Members ratify the election of Governing Members and, at each Annual Meeting, the fully ratified Governing Members elect Regular and Life Trustees.”

“CSO staff prepares Form 990, and it is reviewed by our tax advisor. Staff and the tax advisor discuss and review the entire Form 990 and Form 990-T with members of the CSO Audit Committee, who review and accept it before it is filed as set forth in the Committee Authority and Responsibility section of the Audit Committee charter. At its Spring meeting, the Board of Trustees was reminded of the Audit Committee's responsibility to review and approve the annual tax returns. The 2014 Form 990 and Form 990-T were reviewed and approved at the May 9, 2016 meeting of the Audit Committee.”

“The CSO maintains a Conflict of Interest Policy that applies to all trustees, the Executive Committees of certain auxiliary operations operating under the CSO's bylaws, senior management and other designated staff members, and non-trustee members of Trustee committees. The Policy requires each person to whom the policy applies to complete an annual disclosure questionnaire that discloses any business or financial interest, which might reasonably be expected to give rise to a possible conflict between the interest of the CSO and the interest of such person. The Policy forbids such individuals from voting on or using their personal influence in connection with such business or financial issues. In the event the CSO does conduct business with a related party, the financial terms of those relationships are reported annually to the Audit Committee, whose members are independent per the terms of its charter. The CSO requires each non-union employee to conduct themselves in accordance with the code of Business Conduct and Ethics, approved by the Board of Trustees, and to sign an annual statement acknowledging their understanding of and compliance with the Code.”

“The Association established a search committee, chaired by the Chair of the Board of Trustees and comprised of 15 additional independent trustees, 3 musicians, and 2 staff. It retained one of the world's leading executive search consulting firms to conduct an international search for the position of President of the Association. Through this process the compensation arrangements were determined based on the consulting firm's extensive data sources as well as direct peer benchmarks based size of budget and scope of management responsibility. The deliberations of the search committee were documented in notes of the meetings. The selection of the incumbent and the compensation package were reviewed and approved in executive sessions of the Executive Committee and Board meetings. The process for determining the compensation of other officers or key employees included a meeting on August 25, 2014, of the Human Resources Committee, which was comprised of eight independent trustees and three non-trustees. The Committee reviewed the compensation arrangements and peer benchmark data based on size of budget and scope of management responsibility. Published compensation surveys for non-profit organizations were also reviewed. Recommendations were made to the Committee and accepted, and the deliberations of the Committee were documented in the minutes of the meeting.”

“Financial statements, governing documents and conflict of interest policy are available to the public upon request pursuant to the guidelines of section 6104(d).”

“Guest Conductors, Artists and Composers: Program service expenses 6,849,499. Management and general expenses 1,779. Fundraising expenses 2,641. Total expenses 6,853,919. Other Contracted Services: Program service expenses 1,327,118. Management and general expenses 538,997. Fundraising expenses 18,871. Total expenses 1,884,986.”

“Interest rate swap fair value adjustments -2,462,352. Changes in pension plan assets and benefit obligations -8,350,787.”