| Form 990, Part III, Line 4a |
NEW LEADERSHIP AND NEW STRATEGIC PLAN The 2015-16 season marked a significant change in leadership of the SPCO. In January, Jon Limbacher began his tenure as Managing Director and President and SPCO Principal Violinist Kyu-Young Kim became Artistic Director. Kim's appointment represents the culmination of the SPCO's efforts to have its musicians lead the organization artistically and marks the first time a major American orchestra has appointed a current member of the orchestra as Artistic Director. Upon assuming leadership of the SPCO, Limbacher and Kim led the staff, board and musicians through an inclusive and collaborative strategic planning process. With the goal of continuously adding value to the Twin Cities community and enriching lives by sharing transformational performances with the broadest possible audience, the following strategic imperatives will guide the SPCO's work over the next five years: * Present distinctive and transformational performances of chamber orchestra repertoire and chamber music and continuously elevate the artistic quality of the orchestra for the benefit of our community; * Increase the number of people who experience our music in Minnesota, with a primary focus on the Twin Cities metro area, both through live concert attendance and digital audio and video; * Increase the number of audience members who are young, with a particular focus on children, young parents and college students; * Develop an audience and SPCO family that are reflective of our Twin Cities community, with a particular emphasis on racial and ethnic diversity; * Develop financial resources and practices that provide stability through expanded fundraising and responsible stewardship of resources; and * Create an extraordinary internal culture where all members of the organization are engaged and feel valued |
| Form 990, Part VI, Section A, line 1 |
The Board of Directors may designate an Executive Committee with such members and duties as may be specified by the Board of Directors from time to time. All Executive Committee members shall be Directors. The Executive Committee shall at all times be subject to the control and direction of the Board of Directors. One-third (1/3) of the Executive Committee shall constitute a quorum. A majority of the votes cast shall govern in every matter voted upon. |
| Form 990, Part VI, Section A, line 2 |
Paula Patineau and Joe Tashjian have a family relationship. Jenny Lind Nilsson and Charless Ullery have a family relationship. |
| Form 990, Part VI, Section A, line 6 |
The organization's voting members consist of the members of the Board of Directors and the Governing Members of the organization. All persons and organizations that contribute or pledge at least $2,500 during the organization's most recent or current fiscal year may elect to be designated as a Governing Member. |
| Form 990, Part VI, Section A, line 7a |
Each year the Governance Committee of the Board of Directors submits a list of recommended nominees for approval by the voting members at the Annual Meeting. |
| Form 990, Part VI, Section B, line 11 |
The return is reviewed by the Chief Financial Officer and Finance Committee prior to Board review. A copy of the Form 990 is provided to the Board and approved before it is filed. |
| Form 990, Part VI, Section B, line 12c |
All officers, directors, and key employees are required to sign a conflict of interest form annually. The Executive Assistant reviews the forms and forwards any items noted to the Governance Committee for review. The restrictions imposed on a person with a conflict are determined by the Governance Committee and would typically include a restriction from voting on matters related to the conflict. |
| Form 990, Part VI, Section B, line 15 |
For the President & Managing Director position, rebuttable presumptions data is compiled and reviewed and the general parameters of the employment agreement is compared against this data before the employment agreement is finalized. Annually, a review committee of board members undertakes a performance evaluation of the President and addresses the President's compensation. Other officers or key employees follow the regular organization-wide practices where compensation is reviewed periodically with industry salary survey data and is commensurate with the position and experience of the individual. Annual reviews are conducted that are linked with changes in compensation. If appropriate, rebuttable presumption data is reviewed and compared for the other officers or key employees. |
| Form 990, Part VI, Section C, line 19 |
The organization posts its audited financial statements on its website, and these statements are also available upon request. Governing documents and the conflict of interest policy are available to the public upon request and at the organization's discretion. |
| Form 990, Part XI, line 9: |
Change in value of beneficial interest in charitable trust -445,147. Change in discount on pledges receivable 61,745. Change in discount on accrued liability -2,489. Change in value of gift annuities -77,915. |
Attach to Form 990 or 990-EZ.