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Music Institute of Chicago
Music Institute of Chicago reported $10.3 million in revenue and $7.6 million in expenses for the fiscal year ending August 31, 2025. Of every $100 it spent, $78.13 went to program services, $14.36 to management and general costs and $7.51 to fundraising. Its largest source of revenue was contributions and grants: 50.7% of the total. The highest compensation it reported for one person was $217,419 (PRESIDENT & CEO - THRU 1/31/2025). 4 people received more than $100,000 in reportable compensation. Revenue rose 12% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending August 31, 2025 · Form 990, Part IX, line 25 · total expenses $7.6MFor context, the median across 876 covered arts, culture & humanities charities: $79.98 programs, $13.89 management, $6.13 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending August 31, 2025 · Form 990, Part VIII · total revenue $10MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 78.1% | 78.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 14.4% | 13.6% |
| Fundraising Part IX 25(D) ÷ 25(A) | 7.5% | 6.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.11 | $0.10 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 50.7% | 57.5% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.7% |
| Program service revenue share Part VIII 2g ÷ 12 | 46.5% | 20.8% |
| Highest reported compensation Part VII-A, columns D–F | $217,419 | $385,706 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 2.86% | 2.03% |
| People paid over $100,000 Part VII, line 2 | 4 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 17.4 | 36.6 |
| Independent voting board members Part VI 1a–1b | 22 of 22 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseThe Music Institute offers quality music instruction for nearly 2,000 students of all ages, instruments, and levels of experience, through private instruction -- traditional and suzuki method -- group classes, and ensembles, utilizing classical, jazz, and american roots music genres, including the academy program, an elite training center for pre-college musicians who have professional aspirations. Nichols concert hall is a premier performance venue which presents professional and non-professional concerts and offers ample recital opportunities for Music Institute students. The Music…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO - THRU 1/31/2025 Officer, 40.0 hrs/week | $194,563 | $0 | $22,856 | $217,419 |
| VP & CDO Officer, 40.0 hrs/week | $165,000 | $0 | $306 | $165,306 |
| VP & CFO Officer, 40.0 hrs/week | $125,441 | $0 | $2,162 | $127,603 |
| VP & COO Officer, 40.0 hrs/week | $106,822 | $0 | $10,033 | $116,855 |
| VP & CMO Officer, 40.0 hrs/week | $97,551 | $0 | $14,990 | $112,541 |
| VP ACADEMIC AFFAIRS Officer, 40.0 hrs/week | $90,414 | $0 | $16,932 | $107,346 |
4 people received more than $100,000 in reportable compensation from Music Institute of Chicago (Part VII, line 2). Compensation of current officers, directors and key employees totaled $847K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b22 · 22 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18Yes
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 5201
- Volunteers Part I, line 670
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| NTIVA It support services | $115,811 |
Individuals listed as contractors are left out. 1 contractors were paid more than $100,000 in all.
Private foundation grants it received
27 private foundations reported grants to Music Institute of Chicago totaling $562K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Music Institute of Chicago's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Music Institute of Chicago, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Music Institute of Chicago spent in FY2025, $78.13 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
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- Rhode Island Philharmonic Orchestra & Music SchoolEast Providence, RI · revenue $10M · programs 75.7% · FY2025
- National Archives FoundationWashington, DC · revenue $10M · programs 68.2% · FY2025
- Iowa Public RadioDes Moines, IA · revenue $10M · programs 71.7% · FY2025
All arts, culture & humanities charities · Largest charities in Illinois
Questions people ask
How much of Music Institute of Chicago's spending goes to programs?
In the fiscal year ending August 31, 2025, Music Institute of Chicago reported that 78.1% of its $7.6 million in expenses went to program services, 14.4% to management and general and 7.5% to fundraising (Form 990, Part IX).
How much does Music Institute of Chicago pay its top executive?
The largest total compensation Music Institute of Chicago reported for one person in the fiscal year ending August 31, 2025 was $217,419, for the role of PRESIDENT & CEO - THRU 1/31/2025 (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Music Institute of Chicago get its money?
Of $10.3 million in revenue in the fiscal year ending August 31, 2025, 50.7% came from contributions and grants and 46.5% from program service revenue (Form 990, Part VIII).
Is Music Institute of Chicago a registered charity?
The IRS lists EIN 36-2374224 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending August 31, 2025, object 202601959349301190 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending August 31, 2024, object 202541969349302169 · read the filing
- FY2023: Form 990 for the fiscal year ending August 31, 2023, object 202411939349301931 · read the filing
- FY2022: Form 990 for the fiscal year ending August 31, 2022, object 202301949349301805 · read the filing
- FY2021: Form 990 for the fiscal year ending August 31, 2021, object 202241969349300009 · read the filing
- FY2020: Form 990 for the fiscal year ending August 31, 2020, object 202101969349302155 · read the filing
All filings for EIN 36-2374224: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.