Illinois Philharmonic Orchestra (EIN 363293300) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1954

Legal Domicile

Principal Officer

Karen Hoag

Phone

7084817774

Tax Period

2024-06-01 to 2025-05-31

Illinois Philharmonic Orchestra, founded in 1954, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.2M in total revenue in fiscal year 2024. Revenue surged 30% from the prior year, signaling strong growth momentum. Expenses of $1.1M left a modest 12% surplus.

Mission

Illinois Philharmonic Orchestra's mission as a professional orchestra is to utilize the universal expression of music to create profound, inspiring, and personal connections between the people and communities of Chicagos Southland.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $776,049

Program Service Revenue $250,091

Investment Income $218,806

Other Revenue $-35,423

TOTAL REVENUE $1,209,523

Expense Breakdown

Grants Paid $0

Salaries & Benefits $706,090

Fundraising Expenses $95,094

Program Expenses $729,395

Other Expenses $354,590

TOTAL EXPENSES $1,060,680

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,209,523	$931,433	+0.3%
Expenses	$1,060,680	$1,122,888	-0.1%
Net Income	$148,843	$-191,455	-1.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

170

Volunteers

100

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$92,837

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTINA SALERNO	Executive Dir.	40.00	Officer	$92,837	$0	$92,837
Karen Hoag	President	6.00	Officer Director	$0	$0	$0
Steve Winger	Vice President	2.00	Officer Director	$0	$0	$0
RICHARD DAVIS	Treasurer	6.00	Officer Director	$0	$0	$0
PAT BARKER	Secretary	2.00	Officer Director	$0	$0	$0
BARBARA STURGES	Past President	2.00	Officer Director	$0	$0	$0
Charles Amenta MD	Director	1.00	Director	$0	$0	$0
JANICE BARRY	Director	1.00	Director	$0	$0	$0
SAM BROWN	Director	1.00	Director	$0	$0	$0
Timothy J Coburn	Director	1.00	Director	$0	$0	$0
Christine Cochrane	Director	1.00	Director	$0	$0	$0
Bill Donne	Director	1.00	Director	$0	$0	$0
Cheri Boublis	Director	1.00	Director	$0	$0	$0
Billie Hauser	Director	1.00	Director	$0	$0	$0
ANDREA HETZEL	Director	1.00	Director	$0	$0	$0
Christie Buralli	Director	1.00	Director	$0	$0	$0
WILLIAM E HOFMANN	Director	1.00	Director	$0	$0	$0
Corinne Hwang	Director	1.00	Director	$0	$0	$0
Kathleen Field Orr	Director	1.00	Director	$0	$0	$0
Sharon Bean	Director	1.00	Director	$0	$0	$0
Don Ransford	Director	1.00	Director	$0	$0	$0
Mike Rogers	Director	1.00	Director	$0	$0	$0
Donnell Schwarz	Director	1.00	Director	$0	$0	$0
MARILYNN TANNEBAUM	Director	1.00	Director	$0	$0	$0
Bruce Werth	Director	1.00	Director	$0	$0	$0
John Westerman	Director	1.00	Director	$0	$0	$0
Terri Winfree PhD	Director	1.00	Director	$0	$0	$0
Steven Murphy	Director	1.00	Director	$0	$0	$0
Joey Buck	Director	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$1,209,523	$1,060,680	$5,032,435	$148,843
2024	$931,433	$1,122,888	$4,636,652	$-191,455
2023	$1,198,396	$1,063,521	$4,434,029	$134,875
2022	$1,420,692	$953,828	$4,568,708	$466,864
2021	$1,136,151	$623,876	$4,696,867	$512,275
2020	$915,591	$900,019	$3,360,680	$15,572
2019	$1,156,288	$888,637	$3,284,086	$267,651

Illinois Philharmonic Orchestra