The Chicago Symphony Orchestra Association Announces 4th Consecutive Year of Record Fundraising and Ticket Sales

The Chicago Symphony Orchestra Association (CSOA) released its fiscal year 2014 results at its Annual Meeting today at Symphony Center. The 2013/14 season marked the CSOA's fourth consecutive year of record-breaking ticket sales and contributions, according to Jay Henderson, Chairman of the Board of Trustees of the CSOA, who presented the artistic and financial highlights of the season.

CSOA Chairman Jay Henderson said, "Under the artistic guidance of Music Director Riccardo Muti, the Chicago Symphony Orchestra has had an exceptional year of music making at the highest possible artistic level. Complementing that work, CSOA community engagement initiatives continue to serve audiences of all ages and walks of life, a critical part of our mission. The CSOA Board of Trustees is committed to preserving the CSO's legacy of artistic excellence and supporting the vision of our music director, Riccardo Muti, while maintaining the financial strength of this great institution. Thanks to the dedicated work of our music director, musicians, patrons, staff, donors, volunteers and Board members and their ongoing commitment to the CSO, we experienced record ticket sales and record fundraising results."

Two commitments to the CSOA's endowment, received in June 2014, from the Zell Family Foundation and the Negaunee Foundation, of $17 million and $15 million, respectively, helped to secure the long-term future of the CSOA by providing support in perpetuity for both the naming of the position of CSO music director and the naming of the Negaunee Music Institute at the CSO. In addition, a pledge of $2 million from Randy and Melvin Berlin to create the Berlin Family Fund for the Canon, will support the performance of music by Bach, Beethoven, Mozart, Schubert and other great composers of the Classical era.

At the close of the 2013/14 season, more than 13,000 individuals participated in supporting the CSO through philanthropy compared with 10,400 in the previous year.

Ticket Sales and Earned Revenue for Fiscal Year Ending June 30, 2014

Ticket sales totaled $22.4 million for 240 CSOA-presented events, a slight increase over last year's amount of $22.3 million, marking the fourth consecutive year of record-setting sales.

In addition to ticket revenue, other earned revenue of $7.3 million was taken in from tour fees, merchandise sales, space rentals, royalties, recording fees and miscellaneous activities.

Nearly 386,000 tickets were sold for 240 ticketed concerts*.

Approximately 454,000 people attended CSOA performances and presentations at Symphony Center and in other venues in greater Chicago last season, including 185 free events such as Civic Orchestra of Chicago concerts, the CSO's All-Access chamber music programs, education programs and open rehearsals for students and community groups, as well as the CSO's free performance in Cicero.

Subscription renewal rate for CSO series in the 2014/15 season is over 90%.

* Figures exclude concerts at Ravinia or on tour anywhere outside the Chicago area.

Contributed Revenues for Fiscal Year Ending June 30, 2014

During the 2013/14 season, overall contributed revenue totaled $57 million.

General operating support to the CSO totaled $30.2 million-an increase over last year's record-setting total of $29.8 million. Individual philanthropy totaled $20.6 million, corporate sponsorships and partnerships totaled $5.9 million, and contributions from foundations and government agencies totaled $3.7 million.

Financial Information for Fiscal Year Ending June 30, 2014

Operating revenues totaled $76.6 million, a 4% increase over FY13's $73.6 million.

Operating expenses totaled $78.1 million, resulting in an operating deficit of $1.4 million.

Endowment

Total assets increased by $56 million to $529 million, and net assets increased by $57 million to $323 million, due to an increase in contributions and investment returns.

Endowment investments were $288 million.

Under the oversight of the Investment Committee, the CSOA's long-term endowment returns continue to rank among the highest of comparable funds with a one-year return rate of 18% and a 15-year return rate in the top 7% of comparable funds.

Artistic Highlights for Fiscal Year Ending June 30, 2014

In his remarks reviewing the artistic highlights of the 2013/14 season, Henderson referenced the fourth annual free season-opening community concert by Muti and the CSO, which took place at Morton East High School in Cicero, Illinois, for a capacity audience of 2,500. A three-week celebration of Giuseppe Verdi's bicentennial was the focus of the CSO's fall 2013 programming, culminating in capacity audiences and rave reviews for concert performances ofMacbeth and the CSO's first-ever live webcast and subsequent on-demand streaming of Verdi's Requiem, which has garnered more than 175,000 views to date.

On tour in January, Muti led the Orchestra in its debut performances in two cities on the Canary Islands-Gran Canaria and Tenerife-as well as return engagements in Luxembourg and Essen, Germany. Muti also led the premiere of a CSO-commissioned work for two cellos and orchestra by Italian composer and cellist Giovanni Sollima, who, along with

Yo-Yo Ma, the CSO's Judson and Joyce Green Creative Consultant, performed the solo cello parts. Guest conductor Charles Dutoit led another world premiere-Pour sortie au jour for flute and orchestra -commissioned by the CSO from Guillaume Connesson.

Two new critically acclaimed recordings were released on the CSO Resound label during the 2013/14 season. Verdi'sOtello, recorded live in performances in 2011, with Muti leading the CSO and Chorus, won an International Opera Award. Also released was Muti leading CSO-commissioned works by CSO Mead Composers-in-Residence Mason Bates and Anna Clyne: Alternative Energy and Night Ferry.

The Symphony Center Presents (SCP) Jazz series celebrated its 20th anniversary in 2013/14 and continues to bring the world's greatest jazz artists to the Symphony Center stage. Other SCP series, including Piano Recitals, Chamber Music, Visiting Orchestras and Special Concerts, featured world-renowned performers and important debuts throughout the year as well. Notable was the Ax/Brahms Project, in which pianist Emanuel Ax performed chamber works by Brahms side by side on programs with newly commissioned works by living composers who used Brahms' work as inspiration.

The Citizen Musician Initiative expanded its scope at home in Chicago and beyond during the 2013/14 season. CSO musicians performed free events here at home and on tour, including master classes, free recitals and performances at schools, places of worship and hospitals. Annual programming for at-risk and incarcerated youth continued at the Illinois Youth Center in Warrenville and at the Cook County Juvenile Detention Center. The Civic Orchestra of Chicago celebrated its 95th anniversary and launched the pilot of a new program, the Citizen Musician Fellowship, which involves a selected number of Civic orchestra members and incorporates additional training for engagement and creativity in their experience.

Ending the season, the Truth to Power Festival, conceived and curated by frequent guest conductor Jaap van Zweden, featured works of Prokofiev, Britten and Shostakovich in an exploration of music that uplifted the masses during times of strife throughout history. The festival also featured Looks of a Lot, the world premiere performance of an SCP-commissioned work from world-renowned artists, jazz pianist Jason Moran and visual artist Theaster Gates.

In a continuing effort to reach new audiences, the CSO returned to The Morton Arboretum in DuPage County in June. The three concerts of varied repertoire led by guest conductors Richard Kaufman and Cristian Macelaru were a rousing success. The CSO also broadened its presence in DuPage County during the spring through the work of the Institute, presenting Once Upon a Symphony in April and June at The Community House in Hinsdale, and performing two popular family concerts by the CSO in May at Neuqua Valley High School in Naperville.

CSOA Trustees, Governing Members and Officers Elected

Four new CSOA trustees were elected to three-year terms: John Aalbregtse, JA and Associates, LLC; Robert J. Buford, Planned Realty Group, Inc.; Jennifer N. Pritzker, Colonel (IL), IL ARNG (Retired), and Tawani Enterprises, Inc. and Thomas O'Toole, United Airlines.

Three new CSOA life trustees were also elected: Charles W. Douglas, Sidley Austin, LLP; Dietrich M. Gross, Jupiter Aluminum Corp.; and John H. Hart, Hart Davis Wine Company. In addition, 12 trustees were re-elected to additional three-year terms, and 46 men and women were made new Governing Members.

Finally, the following individuals were elected as officers of the CSOA: Jay L. Henderson, Chairman; Frank M. Clark, Joyce T. Green, W. Robert Reum, Frederick H. Waddell, and Paul Wiggin, Vice Chairs; and Peter D. McDonald, Treasurer.

A moment of silence was observed for those trustees who passed away during the 2013/14 season: Matthew Bucksbaum, John A. Koten, Alfred L. McDougal, Richard J. Stern and James Weiss.

Following the meeting, a special reception was held to unveil the new display honoring the Negaunee Foundation, which, in June, endowed the education, training and engagement programs at the CSO as the Negaunee Music Institute at the CSO. The permanent display in the Symphony Center's Rotunda, honors the foundation for its generosity. The reception also unveiled the new listings on the updated Richard and Helen Thomas Donor Gallery.

About the Chicago Symphony Orchestra (cso.org and csosoundsandstories.org)
Founded in 1891, the Chicago Symphony Orchestra is consistently hailed as one of the greatest orchestras in the world. Its music director since 2010 is Riccardo Muti, one of the preeminent conductors of our day. Pierre Boulez is the CSO's Helen Regenstein Conductor Emeritus, Yo-Yo Ma is the CSO's Judson and Joyce Green Creative Consultant, and Mason Bates and Anna Clyne are the CSO's Mead Composers-in-Residence.

From baroque through contemporary music, the CSO commands a vast classical repertoire. The renowned musicians of the CSO annually perform more than 150 concerts, most at Symphony Center in Chicago and, each summer, at the suburban Ravinia Festival. They regularly tour nationally and internationally; since 1892, the CSO has made 57 international tours, performing in 28 countries on five continents.

Listeners around the globe enjoy weekly radio broadcasts of CSO concerts and recordings on the WFMT network and online at cso.org/Radio. Recordings by the CSO have earned a total of 62 Grammys, including two in 2011 for the first recording Muti released with the Chicago Symphony Orchestra and Chorus, Verdi's Messa da Requiem.

In addition to the CSO, the Chicago Symphony Orchestra Association (CSOA) includes the Chicago Symphony Chorus and the Civic Orchestra of Chicago, a training ensemble. Through its Symphony Center Presents series, the CSOA presents guest artists from a variety of genres-classical, jazz, pop, world, and contemporary.

The Negaunee Music Institute at the Chicago Symphony Orchestra offers a variety of community and education programs that engage more than 200,000 people of diverse ages, incomes and backgrounds. Through the Institute and other activities, including a free annual concert with Riccardo Muti and the CSO, the CSO promotes the concept of Citizen Musicianship™: using the power of music to create connections and to build community.

The CSO is supported by tens of thousands of volunteers, patrons and corporate, foundation, government, and individual donors. The CSO's music director position is endowed in perpetuity by a generous gift from the Zell Family Foundation. The Negaunee Foundation provides generous support in perpetuity for the work of the Negaunee Music Institute at the CSO. Bank of America is the Global Sponsor of the CSO.