Classical Music Chicago

Nonprofit profile at a glance

EIN
363311684
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3126706888
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Official website

Reported finances

Revenue
$606,878
Expenses
$614,870
Assets
$2,964,048
Liabilities
$9,385

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • Will McGrath (President)
  • Patricia Heimann (Vice President)
  • Emil Zbella (Vice President)

Highest reported compensation

  • MARK RIGGLEMAN (Executive Dir.): $116,761 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Presenting free high-quality classical music performances and music education experiences in the Chicago metropolitan area for people of all ages and degrees of musical awareness so they can experience how music enriches life.

What it reported doing in 2024

Presenting world-class musicians and dynamic repertoire, Engaging listeners with interactive or short programs in easy-access locations, and Providing admission-free programming.

Operating model

Revenue model
Donor-supported. 80% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 51
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.9%; rating input score 69
  • Program expense ratio: 64.1%; rating input score 64
  • Fundraising efficiency: $3.37 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.3%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 4.82; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 76; 76th percentile among comparable filings
  • Officer compensation ratio: 19%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: -0.2% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 17.9% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 68.9% of revenue deployed · 64.1% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $394K in reported program spending
  • Leadership: top reported pay $117K · 11 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 10/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 16/100.