Chicago Orchestral Academy
- Assets
- $9.9k
- Revenue
- $112.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Chicago, IL
- Founding
- 05/1980
- Data as of
- 08/2018
- EIN
- 36-3071191
Organization Overview
Chicago Orchestral Academy is located in Chicago, IL. The organization was established in 1980. According to its NTEE Classification (A69) the organization is classified as: Symphony Orchestras, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 08/2018, Chicago Orchestral Academy employed 2 individuals. Chicago Orchestral Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2018, Chicago Orchestral Academy generated $112.7k in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $147.9k during the year ending 08/2018. While expenses have increased by 4.3% per year over the past 2 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2018
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY PURPOSE OF THE ORGANIZATION IS TO PROVIDE ORCHESTRAL TRAINING OPPORTUNITIES FOR TALENTED YOUNG MUSICIANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SYMPHONY CONCERTS: NUMEROUS CONCERTS WERE PERFORMED DURING THE YEAR. THE MAJORITY ARE FREE AND OPEN TO THE PUBLIC. OVER 250 MUSICIANS PARTICIPATED AND BENEFITTED. WEEKLY REHEARSAL: INTENSE GROUP REHEARSALS WERE PROVIDED TO OVER 250 MUSICIANS WEEKLY. SECTIONAL REHEARSAL ARE COACHED BY SEASONED PROFESSIONALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Szklarski Secretary | OfficerTrustee | 1 | $0 |
Saru Govind Director | Trustee | 1 | $0 |
Catherine Tannen Director | Trustee | 1 | $0 |
Rita Diaz Director | OfficerTrustee | 5 | $0 |
Kumar Govind Director | OfficerTrustee | 5 | $0 |
Heather Neaveill-Kramer Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $56,800 |
| Fundraising events | $15,729 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $23,046 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $95,575 |
| Total Program Service Revenue | $17,093 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $112,668 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,552 |
| Compensation of current officers, directors, key employees. | $4,552 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,509 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $675 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,059 |
| Advertising and promotion | $5,478 |
| Office expenses | $2,038 |
| Information technology | $2,932 |
| Royalties | $0 |
| Occupancy | $77,835 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,511 |
| All other expenses | $12,262 |
| Total functional expenses | $147,864 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,839 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,060 |
| Total assets | $9,899 |
| Accounts payable and accrued expenses | $3,750 |
| Grants payable | $0 |
| Deferred revenue | $14,767 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $74,125 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $92,642 |
| Unrestricted restricted net Assets | -$82,743 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | -$82,743 |