2016 annual report chicago symphony orchestra association riccardo muti zell music director message from the chair dear cso friends and family, Th e 125th anniversary season celebration reminded us that we In an age where we are inundated with content at the push of a are part of the living history of the Chicago Symphony Orchestra. button, I think there is no greater luxury than being in the presence Th e mission to attain the highest standard of artistic excellence, of music. Th e concert experience is intangible by its nature, yet established at the fi rst meeting for the incorporation of Th e the power of these performances stays with you long aft er the fi nal Orchestral Association in 1890, has been the guiding principle bow. I have many meaningful memories from our last season and of this organization for well over a century and has allowed it to appreciate having this report to mark the accomplishments of a become one of the world’s most respected cultural institutions. As remarkable anniversary. As you review it, I hope you will share in we look back to recognize what was achieved during the CSO’s the recent success of the CSOA. 125th season, we honor our past and look ahead to what our legacy will be as we approach the next milestone. I commend the work of Riccardo Muti, our outstanding Zell Music Director, whose leadership continues to elevate the artistic level of the Orchestra and inspire audiences worldwide. Helen Zell Th at inspiration starts with the amazing rapport he has with the Chair, Board of Trustees members of the Orchestra and translates into their performances. Chicago Symphony Orchestra Association To see this in rehearsal as well as in concert during my fi rst year as Board Chair has deepened my appreciation for this special relationship. From the season’s opening weekend that included our fi rst subscription concert, the sixth annual Concert for Chicago, and a particularly festive Symphony Ball, to the internationally acclaimed performances of Verdi’s Falstaff and a tour of Asia that featured sold-out performances night aft er night, Muti and the CSO touched hundreds of thousands of listeners during the 125th season. Th e impact of these musical performances speaks to the relevance of classical music in a modern world and signifi es a bright future for the organization. I would like to thank the many custodians of that future—the CSOA’s Trustees, Governing Members, Women’s Board, the League, and the Overture Council—who steadfastly support the organization and regularly contribute their talents to its success. I am also grateful to the donors, foundations, corporations, sponsors, and patrons who are dedicated to our mission and who are our constant advocates. And to the amazing staff , led by CSOA President Jeff Alexander, who work every day to facilitate all that takes place at Symphony Center and beyond, I extend my heartfelt thanks. All those who support the CSO share a special bond through our mutual appreciation of the unparalleled classical musical experience provided by this Orchestra and enthusiastically make it a priority in our lives. 3 president’s message dear friends, The 125th anniversary season was an outstanding celebration of the artistic excellence that has long been the hallmark of the Chicago Symphony Orchestra. Over 400 concerts, community events, educational activities, and special gatherings, as well as a YouTube video with three million views, radio broadcasts, and recordings experienced by people around the world marked this historic year. Zell Music Director Riccardo Muti’s dedication to the symphonic and operatic repertoire performed at the highest artistic level has served as the cornerstone of the CSO’s artistic mission since his tenure began in 2010. Maestro Muti was a great proponent of honoring the anniversary through performances of works that received their world or U.S. premiere by the CSO—included in twenty-five concert programs over the course of the year. Another unmistakable highlight of the season was the presentation of Falstaff, for which The New York Times hailed Maestro Muti as “the King of Verdi” and described the Orchestra as, “a full symphonic ensemble [that] moved like a chamber group.” Maestro Muti also led a three-city U.S. tour in the fall, including the Orchestra’s debut in Chapel Hill, North Carolina, and a five- city and ten-performance tour of Asia in January, marking the eighth tour to the region since 1977 and the 59th international tour since 1892. In addition, the 2015/16 season saw the release of two CSO Resound recordings: Berlioz’s Symphonie fantastique with its sequel, Lélio, ou le retour à la vie, narrated by actor Gérard Depardieu, and a digital release of Anthology of Fantastic Zoology by former Mead Composer-in-Residence Mason Bates. 4 We welcomed six new members to the Orchestra in 2015/16, Finally, I would like to thank CSOA Board Chair Helen Zell, including the Erika and Dietrich M. Gross principal fl ute chair who has worked tirelessly in her fi rst year as chair to ensure the Stefán Ragnar Höskuldsson, principal bassoon Keith Buncke, next 125 years are as successful as the fi rst. Her eff orts to ensure violinists Matous Michal and Simon Michal, and violists Sunghee the fi scal health of the CSOA, and her personal attention to the Choi and Youming Chen. Samuel Adams and Elizabeth Ogonek cultivation of new board members and donors is already bringing began their three-year terms as Mead Composers-in-Residence new strength to the organization. by curating four dynamic programs for the MusicNOW series that featured several world premieres and novel uses of digital In closing, please enjoy this look back at a wonderful year of music media. making, celebration, and community engagement that helped to make the Chicago Symphony Orchestra the great musical treasure Th e Negaunee Music Institute arranged more than 125 of our city and the world. performances at community sites across the city and internationally as part of the CSO’s 125th anniversary. Th ese free Sincerely, concerts were a highly visible and meaningful way for the CSO family to bring diverse groups together through the common language of music. Th e Institute and the Civic Orchestra of Chicago continued to benefi t from the guidance of Judson and Joyce Green Creative Consultant Yo-Yo Ma. Jeff Alexander Th e Symphony Center Presents series drew record-setting President audience numbers through its wide-ranging programs performed Chicago Symphony Orchestra Association by visiting soloists and ensembles. Th e SCP Jazz series repeatedly fi lled Symphony Center to capacity, while ten piano concerts reached an unprecedented level of ticket sales. In addition, our CSO Main series single ticket revenue surpassed six million dollars—a new record—and 90% of 2015/16 subsribers renewed for the 2016/17 season. Another important milestone was the growth in ticket-buying households from the Latino community by a factor of three, when compared to four years ago, thanks to the eff orts of our volunteer Latino Alliance. All of our accomplishments are possible because of the inspired dedication, artistry, and skill of our music director, musicians, and staff members, and the support of our Trustees, thousands of loyal donors, sponsors, patrons, and volunteers who are committed to advancing the Orchestra’s mission. We are also grateful to our 2015/16 Global Sponsor, Bank of America, and our Grand Patrons, whose commitment to arts and culture helped make our 125th season one to remember. 5 treasurer’s report operating revenues in fi scal year 2016 increased slightly to Th e Association is dedicated to meeting the fi nancial challenges $71.9 million, refl ecting annual philanthropic support of $26.1 posed by the environment in which we operate. As we build on million and total ticket sales of $22.2 million. Th roughout the year, the enthusiasm of our audiences, the generosity of our patrons, the Association monitored costs carefully, directing resources to and targeted cost containment eff orts, we continue our multi- ensure music making and programs of the highest artistic quality. faceted approach to return to a balanced annual operating budget. Operating expenses increased somewhat to $73.0 million. As a We are especially encouraged by the strong start for ticket sales for result, the Chicago Symphony Orchestra Association ended fi scal the upcoming CSO Main series season. year 2016 with an operating defi cit of $1.1 million. Your continued support and tireless eff orts on behalf of the Total assets approached $489 million, while net assets totaled Association enable us to continue the CSO’s legacy of outstanding $247 million at year end. Th ey continue to provide the foundation artistic excellence. Our collective commitment to sustainable for artistic excellence, audience development, and community fi nancial strength will ensure that this great Chicago institution initiatives. Endowment and other investments, together with continues to prosper. benefi cial interest in trusts, totaled more than $351 million as a result of generous gift s and bequests. Bonds payable remained fl at at $146 million. Th e generosity of our audiences and donors reinforces our ability to present programs of the highest artistic quality, and we are most W. Robert Reum grateful for their support. Th e CSO family—musicians, trustees, Treasurer concertgoers, donors, volunteers, and staff —continues to make Chicago Symphony Orchestra Association the diff erence in achieving our artistic and fi nancial goals. 6 financial highlights [all dollar figures in thousands] for the year ended june 30, 2016 june 30, 2015 Total Operating Revenue and Support $71,926 $71,396 Total Operating Expenses $73,066 $72,705 Operating Deficit $1,140 $1,309 Endowment, Other Investments, Beneficial Interest in Trusts $351,482 $368,081 Total Assets $488,658 $519,504 Bonds Payable $145,515 $145,515 Net Assets $246,961 $303,878 concert highlights Ticket Sales $22,197 $22,669 Number of Tickets Sold by Symphony Center 349,396 369,101 Number of Concerts* Paid 218 233 Free 263 235 *Includes CSO, Symphony Center Presents, and Institute events; does not include CSO performances presented on tour and at Ravinia.