The Chicago Philharmonic Society

Nonprofit profile at a glance

EIN
363616076
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3129570000
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Symphony Orchestras

Official website

Reported finances

Revenue
$3,773,723
Expenses
$3,705,001
Assets
$1,201,627
Liabilities
$427,790

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

Leadership & pay

21 people listed

Executive titles in this filing

  • TERELL JOHNSON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • TERELL JOHNSON (EXECUTIVE DIRECTOR): $141,303 total reported compensation
  • JENNIFER CAPPELLI (BOARD MEMBER): $16,161 total reported compensation
  • ELEANOR BARTSCH (BOARD MEMBER): $15,068 total reported compensation

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

Overview

Mission

To excite, engage, and transform diverse audiences with the beauty and power of music.

What it reported doing in 2024

Promotion and appreciation of orchestral and chamber music among the general public.

Operating model

Revenue model
Earned-program. 82% of the money available for current operations came from fees and other program revenue.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 92
  • Accountability: 75
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86%; rating input score 86
  • Program expense ratio: 86.3%; rating input score 86
  • Fundraising efficiency: $3.28 raised per $1 spent on fundraising; rating input score 9; 9th 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: 65%; rating input score 65; 10th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 1.8%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 0.32; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 47; 47th percentile among comparable filings

Growth

  • Program expense growth: 5.9% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: 5.7% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 17.9% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 86% of revenue deployed · 86.3% of spending went to programs
  • Governance: 13 of 20 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.2M in reported program spending
  • Leadership: top reported pay $141K · 21 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • 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 9/100.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.
  • Moderate — Sustainability: Officer compensation ratio scored 47/100.