Classical Music Chicago

EIN: 363311684 501(c)(3) Arts, Culture & Humanities

Chicago, IL

Total Revenue
$606,878
Total Expenses
$614,870
Total Assets
$2,964,048
Net Assets
$2,954,663
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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
1979
Legal Domicile
IL
Principal Officer
MARK RIGGLEMAN
Phone
3126706888
Tax Period
2024-07-01 to 2025-06-30

Classical Music Chicago, founded in 1979, is a small nonprofit in the Arts, Culture & Humanities sector that reported $607K in total revenue in fiscal year 2024. Revenue surged 36% from the prior year, signaling strong growth momentum. Net assets of $3.0M represent 58 months of operating reserves.

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.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $526,775
Program Service Revenue $0
Investment Income $68,478
Other Revenue $11,625
TOTAL REVENUE $606,878

Expense Breakdown

Grants Paid $0
Salaries & Benefits $352,324
Fundraising Expenses $156,487
Program Expenses $394,155
Other Expenses $262,546
TOTAL EXPENSES $614,870

Year-over-Year Comparison

2024 2023 Change
Revenue $606,878 $446,103 +0.4%
Expenses $614,870 $639,342 0.0%
Net Income $-7,992 $-193,239 -1.0%
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

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Governance

Voting Members
10
Independent Members
10
Employees
4
Volunteers
13

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
6
$116,761
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARK RIGGLEMAN Executive Dir. 40.00
Officer
$98,359 $18,402 $116,761
Will McGrath President 5.00
Officer Director
$0 $0 $0
Patricia Heimann Vice President 5.00
Officer Director
$0 $0 $0
Emil Zbella Vice President 5.00
Officer Director
$0 $0 $0
Marlon Rucker Treasurer 5.00
Officer Director
$0 $0 $0
William Fulbrook Hanna Secretary 5.00
Officer Director
$0 $0 $0
Jacob Babcock Sopel Director 1.00
Director
$0 $0 $0
John Covell Director 1.00
Director
$0 $0 $0
Joseph Iacopelli Director 1.00
Director
$0 $0 $0
Nicole Pavlick Director 1.00
Director
$0 $0 $0
Michael Rose 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 $606,878 $614,870 $2,964,048 $-7,992
2024 $446,103 $639,342 $2,782,825 $-193,239
2023 $803,456 $653,322 $2,785,983 $150,134
2022 $762,810 $621,661 $2,492,593 $141,149
2021 $734,258 $536,638 $2,661,394 $197,620
2020 $542,622 $597,241 $1,999,911 $-54,619
2019 $2,278,198 $740,424 $1,982,848 $1,537,774
2018 $810,108 $810,009 $377,883 $99
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