Chicago Theatre Group Inc.

“The chairman of the board of trustees may appoint from among the trustees an executive committee of two or more members, one of who shall be the president, who will chair the executive committee meetings. The executive committee shall have and may exercise all of the authority of the board of trustees in the management of the corporation, except that such committee shall have no authority in reference to amending the articles of incorporation, adopting a plan of merger or consolidation, adopting a plan of sale, lease, exchange, mortgage or other disposition of substantially all of the property and assets of the corporation other than in the usual course of business, affecting the voluntary dissolution of the corporation, amending, altering or repealing any provision of these bylaws, electing or removing trustees or officers of the corporation, or members of the executive committee, fixing the compensation of any member of the exective committee, or amending, altering or repealing any resolution of the board of trustees which, by its terms, provides that it shall not be amended, altered or repealed by the executive committee. The chairman shall have power at any time to fill vacancies in, to change the size or membership of, and to discharge any such committee. Any such executive committee shall keep a written record of its proceedings and shall submit such record to the entire board at each regular meeting thereof and at such other times as may be requested by the board.”

“The organization retains the services of an independent cpa firm to prepare the organization's form 990. Management reviews the form 990 and provides a copy to the chair of the audit committee for review prior to filing.”

“Officers and trustees are required to annually complete a form disclosing any conflicts of interest. The coi forms are reviewed annually by the managing director. Any significant conflicts are reviewed with the trustee officers. Throughout the year all services and purchased contracts are reviewed by management to ensure no coi. If there is a potential coi, the trustee in question will not be permitted to vote or approve the transaction in question.”

“The organization considers the chairman of the board to be its top management official. The chairman is not compensated and accordingly, this question has been answered "no". The organization's other officers and its key employee are compensated according to an agreed upon contract which is reviewed every 7 years. When the contracts are reviewed, a board committee considers compensation of similarly situated individuals at similar organizations compensation is not reviewed on an annual basis and was not reviewed for the reporting year.”

“The organization's documents, conflict of interest policy, and financial statements are available to the public upon request.”

“In response to the pandemic declaration, on march 13, 2020 the theatre closed its facilities to the public to comply with state and local health and safety standards. Additionally, the annual gala, which was to be held in may 2020, was transitioned into a virtual format. Continued restrictions on public gathering size make in person engagement activities financially unfeasible during this pandemic. Before fiscal year end, management evaluated operating structures and made the strategic decision to fulfill its mission to connect people to theatre arts with virtual performances, including a radio broadcast of the annual production of "a christmas carol". Admissions revenue from the date of closure through august 31, 2020 were approximately $5,264,000 lower than the comparable period the prior fiscal year. This revenue loss was offset by the ppp loan and unrestricted contributions totaling $3,038,000 more than the comparable prior year period. In addition, operating expenses in the last quarter of fiscal year 2020 were approximately $4,860,000 lower than the prior year due to the elimination or reduction of expenditures where possible.”