Form 990, Part I, Line 1 and 3: Description of Organization's Mission: |
The mission of the Joan W. and Irving B. Harris Theater is to be Chicago's primary residence for music and dance, connecting diverse audiences with outstanding artists from across the city, the nation, and the world. Founded by a dedicated group of civic leaders and community foundations, the Joan W. and Irving B. Harris Theater for Music and Dance opened in November 2003 and was the first multi-use performance venue built in Chicago since 1929. Today, the Harris provides the most robust and diverse arts and cultural offerings of any venue in the Midwest. The Theater's mission is delivered through three intersecting strategies: curating a presenting series designed to offer an engaging array of genres and styles, collaborating with local companies who consider the Harris their Chicago performance home, and providing educational and accessible opportunities for everyone. In the 2020-2021 season, in accordance with federal and state public safety guidelines due to COVID-19, the Harris adapted its performance and community engagement events to be hold virtually. The Theater streamed 45 digital productions and hosted 14 educational events online. The Theater's virtual season reached over 40,000 people in 38 countries. In collaboration with local artists and companies, the Harris provided free rehearsal space, production grants, and access to recording and streaming capabilities. |
Form 990, Part VI, Section A, line 2 |
Joan W. Harris and Louise Frank have a family relationship. |
Form 990, Part VI, Section A, line 4 |
During the 2021 fiscal year, one amendment was made to the Music and Dance Theater, Inc. Board of Trustees Bylaws. During the May 12, 2021 meeting, section 4.2 of the bylaws was amended to read as follows (with the new language shown within parentheses): Section 4.2. Term of Office, Resignation, and Removal. The term of office of each Officer elected at an annual meeting shall commence on July 1 of that year. Each Officer shall hold office until a successor is elected and qualified or until the officer's earlier resignation or removal; provided, however, that no elected Trustee shall serve in the same office, other than the office of Vice Chair, for more than three consecutive one-year term (except that at the 2021 annual meeting the current Treasurer may be re-elected for an additional one-year term in light of the various challenges arising from the COVID-19 pandemic). No person shall serve as Vice Chair for more than six one-year terms unless he or she is currently serving as executive Vice Chair. Each shall hold office until a successor is elected and qualified or the officer's earlier death, resignation or removal. Any Officer may resign at any time by giving written notice to the Board of Trustees or to the Chair or the Secretary of the Corporation. Any Officer may be removed by the Board of Trustees at any time, with or without cause, by a majority of the Trustees present at a meeting of the board at which a quorum is present. Any such removal shall be without prejudice to the contract rights, if any, of the person so removed, but election to office shall not of itself create any contract rights. |
Form 990, Part VI, Section B, line 11b |
On September 30, 2021 the Board of Trustees of the Harris Theater approved a resolution that, with the Fiscal year ended June 30, 2021, gave the Audit Committee of the Board the authority to review the federal Form 990 and Illinois Form AG990-IL on the Board's behalf. The Audit committee of the Board of Trustees met with representatives of RSM US LLP, who prepared the Form 990 to conduct that review. The extent of that review included covering key issues. The complete Form 990 was then made available to all Board members who had ample time to review, ask question and/or suggest revisions before the Form 990 was filed with the IRS. |
Form 990, Part VI, Section B, line 12c |
Music and Dance Theater Chicago, Inc.'s ("MADTC") conflict of interest policy addresses transactions and arrangements involving MADTC's trustees, officers and any other managers or supervisors identified by the Board of Trustees or the President as exercising substantial influence over the operations of MADTC ("Covered Persons"). Each Covered Person upon becoming such shall prepare, sign and submit a Conflict of Interest Questionnaire. In addition, each Covered Person shall promptly and fully disclose all material facts of every actual or potential conflict of interest: (I) That arises while he/she is a Covered Person, at the time such actual or potential conflict arises; and; (II)Annually by preparing, signing and submitting a Conflict of Interest Questionnaire. All disclosures involving a transaction or arrangement being considered at a meeting of the Board of Trustees or of a board committee shall be made to all members present at such meeting. All other disclosures shall be made to the President (who shall disclose his or her conflicts to the Board of Trustees). A Covered Person who is in doubt as to the existence of a conflict of interest is encouraged to disclose all facts pertaining to the transaction or arrangement before undertaking the transaction or arrangement or making any decision in the matter. Each Covered Person shall sign a statement acknowledging that he or she has received a copy of this Policy, has read and understands it, and agrees to comply with it. If the Board of Trustees has reasonable cause to believe that a Covered Person has failed to comply with this Policy, the Board may counsel the Covered Person regarding such failure and, if the issue is not resolved to the Board's satisfaction, may consider additional corrective action as appropriate. Conflict of interest information is collected annually and throughout the year when new trustees come on. |
Form 990, Part VI, Section B, line 15 |
With respect to compensation of the CEO/Executive Director on an ongoing basis, post-hiring, the Board of Trustees has delegated overall responsibility for establishing such compensation to the Executive Committee. To carry out this assignment, the Executive Committee utilizes an ad hoc compensation sub-committee ("the compensation sub-committee"), consisting of former and current Board Chairs, along with board members bearing special expertise in the area of compensation, to review and determine the compensation of the CEO/Executive Director. To determine the compensation of the CEO/Executive Director, the compensation sub-committee has successfully employed a number of tools and resources, including without limitation, a review of compensation for similar positions at similar organizations, drawing upon data from Form 990's for such organizations; the compensation committee, as a matter of policy, retains the option of utilizing independent compensation consultants and compensation surveys or studies, when it determines that it is appropriate to supplement data from other resources. Each year, the compensation sub-committee reviews the compensation of the CEO/Executive Director in conjunction with the review of the performance of the CEO/Executive Director, including accomplishments, achievement of goals, and opportunities for improvement. After the completion of such review, the compensation sub-committee reports its findings and recommendations to the Executive Committee, which then determines the compensation of the CEO/Executive Director for the ensuing year. At the beginning of each fiscal year, the Board Chair reports to the Board of Trustees the actions taken by the Executive Committee. |
Form 990, Part VI, Section C, line 19 |
The Theater makes its governing documents, conflict of interest policy, and financial statements available to the public upon request for the same period of disclosure as set forth in section 6104(d). The Theater applies for numerous grants from foundations as well as governmental bodies and provides such documents in that application process. Web sites such as GuideStar also have relevant documents of the Theater. |
Form 990, Part XI, line 9: |
Change in Unrealized Gain on Swap Agreement 268,141. Gain on Extinguishment of Debt 527,000. |