2024-02-27T08:44:25+00:00 2023-06-30 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2022-07-01 300748997 The Economic Club of Chicago ECON 3127261628 33 N Dearborn St 1700 CHICAGO IL 60602 David Snyder PRESIDENT/CEO 2024-02-27 true David Snyder 999009999 Mallory Fairless P10321579 3128997000 2022 2023-04-26 12:10:37Z David Snyder 33 N Dearborn St 1700 CHICAGO IL 60602 5744061 false X WWW.ECONCLUBCHI.ORG X 2012 IL The Economic Club of Chicago fosters meaningful connections among Chicago leaders to encourage dialogue on important economic and social issues and to cultivate the next generation of civic leadership. 47 46 21 229 0 0 0 0 3580134 4825677 173299 152280 0 750755 3753433 5728712 0 0 0 2420106 2769639 0 0 0 1798100 2260097 4218206 5029736 -464773 698976 6862322 7653231 1887367 1582897 4974955 6070334 The Economic Club of Chicago fosters meaningful connections among Chicago leaders to encourage dialogue on important economic and social issues and to cultivate the next generation of civic leadership. false false 4515358 5576432 THE ECONOMIC CLUB OF CHICAGO HELD 138 EDUCATIONAL PROGRAMS DURING THE 2022-2023 PROGRAM YEAR. TOTAL ATTENDANCE AT THESE PROGRAMS WAS 11,378 MEMBERS AND GUESTS, AND VIDEOS OF THESE PROGRAMS ARE POSTED ON THE CLUB'S YOUTUBE CHANNEL FOR VIEWING BY THE GENERAL PUBLIC. THESE EDUCATIONAL PROGRAMS INCLUDED CONVERSATIONS WITH ACCLAIMED AUTHORS, ENTREPRENEURS, GOVERNMENT OFFICIALS, AND CEOS OF PUBLIC AND PRIVATE COMPANIES. SELECT SPEAKERS FROM THE 2022-2023 FISCAL YEAR INCLUDED CHRIS KEMPCZINSKI, MARTIN SCORSESE, GWYNNE SHOTWELL, DARA KHOSROWSHAHI, DR. ALBERT BOURLA, JOSE ANDRES, AUSTAN GOOSLBEE, EBOO PATEL, AND BRETT HART. 4515358 true false false false false false false false false true false false true true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false true 4 0 true 21 true false false false false false false false false false false false false X 47 46 true false false false false false false true true false false true true true true true true true true false IL X David Snyder 3127261628 33 N Dearborn St Suite 1700 CHICAGO IL 60602 DAVID SNYDER PRESIDENT AND CEO 40.0 X X 448628 0 41778 ERIC SMITH TREASURER & EXECUTIVE COMMITTEE MEMBER 2.0 X X 0 0 0 ERIC WEINHEIMER SECRETARY & EXECUTIVE COMMITTEE MEMBER 1.0 X X 0 0 0 LISA M MADIGAN FIRST VICE CHAIR , PROGRAMS & EXECUTIVE COMMITTEE MEMBER 1.0 X X 0 0 0 MARY DILLON CHAIR & EXECUTIVE COMMITTEE MEMBER 2.0 X X 0 0 0 SUZANNE YOON SECOND VICE CHAIR, FORUMS & EXECUTIVE COMMITTEE MEMBER 1.0 X X 0 0 0 AAMER BAIG BOARD MEMBER 0.2 X 0 0 0 ANDREA ZOPP BOARD MEMBER 0.2 X 0 0 0 BRETT HART BOARD MEMBER 0.2 X 0 0 0 BRIDGET C COUGHLIN BOARD MEMBER 0.2 X 0 0 0 BRIDGET O'KEEFE BOARD & FINANCE COMMITTEE MEMBER 1.0 X 0 0 0 Charles R Matthews BOARD MEMBER 0.2 X 0 0 0 CHRISTINE LEAHY BOARD & EXECUTIVE COMMITTEE MEMBER 1.0 X 0 0 0 Christopher T Bertschy BOARD MEMBER 0.2 X 0 0 0 DEBRA CAFARO EX OFFICIO & EXECUTIVE COMMITTEE MEMBER 1.0 X 0 0 0 DORRI MCWHORTER BOARD MEMBER 0.2 X 0 0 0 E SCOTT SANTI BOARD MEMBER 0.2 X 0 0 0 EILEEN MITCHELL BOARD MEMBER 0.2 X 0 0 0 GAVIN HATTERSLEY BOARD MEMBER 0.2 X 0 0 0 Helene D Gayle BOARD MEMBER 0.2 X 0 0 0 JAMES KOLAR BOARD MEMBER 0.2 X 0 0 0 Jennifer Scanlon BOARD MEMBER 0.2 X 0 0 0 JESSE RUIZ BOARD MEMBER 0.2 X 0 0 0 John A Challenger BOARD MEMBER 0.2 X 0 0 0 John Holmes BOARD & EXECUTIVE COMMITTEE MEMBER 1.0 X 0 0 0 KAREN SAUDER BOARD MEMBER 0.2 X 0 0 0 KOULA BERLIN BOARD & FINANCE COMMITTEE MEMBER 1.0 X 0 0 0 KUNAL KAPOOR BOARD & EXECUTIVE COMMITTEE MEMBER 1.0 X 0 0 0 LISA WARDELL BOARD MEMBER 0.2 X 0 0 0 MARY LOUISE GORNO BOARD MEMBER 0.2 X 0 0 0 MAURICE SMITH BOARD MEMBER 0.2 X 0 0 0 Michael O'Grady BOARD & EXECUTIVE COMMITTEE MEMBER 1.0 X 0 0 0 MICHAEL REINSDORF BOARD MEMBER 0.2 X 0 0 0 Michelle Collins BOARD & EXECUTIVE COMMITTEE MEMBER 1.0 X 0 0 0 Mohan Rao BOARD & FINANCE COMMITTEE MEMBER 1.0 X 0 0 0 PATRICK M MAGOON BOARD MEMBER 0.2 X 0 0 0 PIETRO SATRIANO BOARD MEMBER 0.2 X 0 0 0 Ryan Ruskin BOARD MEMBER 0.2 X 0 0 0 Sally Blount BOARD MEMBER 0.2 X 0 0 0 SANDRA CORDOVA MICEK BOARD MEMBER 0.2 X 0 0 0 Scott Swanson BOARD MEMBER 0.2 X 0 0 0 SEAN M CONNOLLY BOARD MEMBER 0.2 X 0 0 0 SID BALA BOARD MEMBER 0.2 X 0 0 0 SIDNEY DILLARD BOARD MEMBER 0.2 X 0 0 0 TED SOUDER BOARD MEMBER 0.2 X 0 0 0 Valerie Jarrett BOARD MEMBER 0.2 X 0 0 0 WANJI WALCOTT BOARD MEMBER 0.2 X 0 0 0 Andrew M Leasure Vice President & Chief Financial Officer 40.0 X 224754 0 20851 KATIE ESPOSITO VICE PRESIDENT & CHIEF PROGRAMS OFFICER 40.0 X 203920 0 29952 LISA EMERICK VICE PRESIDENT, CHIEF MARKETING & ENGAGEMENT OFFICER 40.0 X 191396 0 19593 ANTHONY VENA DIRECTOR OF TECHNOLOGY 40.0 X 156640 0 18828 EMILY WHELCHEL VICE PRESIDENT, MEMBERSHIP 40.0 X 143748 0 17328 1369086 0 148330 6 false true false 0 0 MEMBERSHIP DUES 900099 3375359 3375359 PROGRAMS & EVENTS 900099 1450318 1450318 0 0 0 0 4825677 152280 152280 0 0 15349 15349 0 0 Gain From Settlement of Deferred Compensation Liability 900099 750755 750755 0 0 0 0 750755 5728712 5576432 0 152280 0 0 0 0 1151700 1025013 126687 1124548 1000848 123700 167784 66213 101571 186249 165762 20487 139358 124029 15329 33108 33108 15349 15349 155544 147759 7785 0 218298 209597 8701 149366 132936 16430 200410 174357 26053 12575 12434 141 164 146 18 103423 89978 13445 21091 18771 2320 PROGRAM MEALS 1009634 1006380 3254 PROGRAM FACILITY 341135 341135 0 0 0 0 5029736 4515358 514378 0 275502 194004 0 0 3950 13425 0 0 0 0 0 0 89520 98782 1186785 977633 306179 209152 6187171 6720505 0 0 0 0 417363 6862322 7653231 536061 1099887 0 60675 3550 0 0 0 0 0 0 1290631 479460 1887367 1582897 X 4974955 6070334 0 0 0 0 4974955 6070334 6862322 7653231 698976 396403 0 X false true X true false X 0 3827400 3830604 3274503 3580134 4825677 19338318 0 0 0 3827400 3830604 3274503 3580134 4825677 19338318 124155 103436 90600 83750 155903 557844 0 0 0 0 0 0 124155 103436 90600 83750 155903 557844 18780474 122427 131437 127241 173299 152280 706684 0 122427 131437 127241 173299 152280 706684 0 0 0 0 0 0 0 3949827 3962041 3401744 3753433 4977957 20045002 0.9369 0.9368 0.04 0.04 X 605774 418994 186780 253635 231263 22372 327376 327376 0 209152 OPERATING LEASE RIGHT-OF-USE ASSET 417363 417363 DEFERRED COMPENSATION LIABILITY 479460 479460 X 6172473 396403 62707 0 459110 5713363 15349 0 15349 5728712 5077094 62707 0 62707 5014387 15349 0 15349 5029736 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Club files Form 990 in the U.S. federal jurisdiction. Due to its tax-exempt status, the Club is not subject to U.S. federal income tax or state income tax. The Club does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. The Club recognizes interest and penalties related to unrecognized tax benefits in interest and income tax expense, respectively. The Club did not have any amounts accrued for penalties or interest at June 30, 2023 and 2022. X X X X false false false false false false false false false DAVID SNYDER PRESIDENT AND CEO 372628 0 76000 0 0 0 12200 0 29578 0 490406 0 0 0 LISA EMERICK VICE PRESIDENT, CHIEF MARKETING & ENGAGEMENT OFFICER 161796 0 29600 0 0 0 7644 0 11949 0 210989 0 0 0 KATIE ESPOSITO VICE PRESIDENT & CHIEF PROGRAMS OFFICER 168920 0 35000 0 0 0 8394 0 21558 0 233872 0 0 0 Andrew M Leasure Vice President & Chief Financial Officer 187954 0 36800 0 0 0 8992 0 11859 0 245605 0 0 0 EMILY WHELCHEL VICE PRESIDENT, MEMBERSHIP 129948 0 13800 0 0 0 5752 0 11576 0 161076 0 0 0 ANTHONY VENA DIRECTOR OF TECHNOLOGY 140140 0 16500 0 0 0 6266 0 12562 0 175468 0 0 0 Form 990, Part I, Line 6 Volunteers THE CLUB HAS MEMBER BASED COMMITTEES THAT PROVIDE OVERSIGHT AND GOVERNANCE AND SUPPORT OUR MEMBERSHIP AND PROGRAM SERVICE OFFERINGS. DURING THE 2022-2023 PROGRAM YEAR THE CLUB HAD A TOTAL OF 229 MEMBERS VOLUNTEER TO SERVE ON ONE OR MORE OF THESE COMMITTEES. Form 990, Part VI, Line 1a Delegate broad authority to a committee The Club's Executive Committee represents the Board of Directors and assists in fulfilling oversight and governance responsibilities surrounding the organization's strategy, programs, membership base, internal committees, and general operations. The Executive Committee consisted of twelve Board Directors. Form 990, Part VI, Line 2 Family/business relationships amongst interested persons Jennifer Scanlon, Michael O'Grady - Business relationship, Sally Blount, Michael O'Grady - Business relationship Form 990, Part VI, Line 11b Review of form 990 by governing body At the end of the fiscal year, the Club engages an outside auditor to review its financials and perform an audit. Once the audit is completed, an outside accountant assists in the preparation of the Form 990. The Club's Finance Committee meets to review and approve the audit report and the Form 990. Subsequent to the Finance Committee's review, a copy of the audit report and Form 990 are sent to the Executive Committee for review and approval. Finally, the Form 990 is distributed to the full Board of Directors before the return is filed. Form 990, Part VI, Line 12c Conflict of interest policy The Economic Club has a conflict of interest policy that is reviewed annually by our Finance Committee, Executive Committee, and Board of Directors. Interested Persons are required to sign an annual disclosure statement which indicates whether or not they are aware of any conflicts or potential conflicts. In accordance with our conflict of interest policy, the Club's Board members, Committee members, Officers, and Key Employees must notify the Club Chair if any conflicts or potential conflicts arise between the Club's annual independence affirmations. Interested persons are required to abstain from any vote on, or consideration of, any matter related to the subject of the conflict of interest. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE FINANCE COMMITTEE BENCHMARKS THE CLUB'S COMPENSATION LEVELS FOR THE PRESIDENT AND CEO AND FOR ALL CLUB EMPLOYEES ANNUALLY. THE CLUB UTILIZES DATA FROM LOCAL AND NATIONAL BUSINESSES, CIVIC ORGANIZATIONS, AND NOT-FOR-PROFIT ORGANIZATIONS. THE FINANCE COMMITTEE SPECIFICALLY REVIEWS DATA FROM ORGANIZATIONS WITH SIMILAR REVENUES, SIMILAR SCOPE OF OPERATIONS, AND ORGANIZATIONS WITH A HIGH CALIBER REPUTATION. THIS PROCESS IS THEN DOCUMENTED WITHIN THE FINANCE AND EXECUTIVE COMMITTEES' MEETING MINUTES. ADDITIONALLY, EVERY THREE YEARS THE BOARD OF DIRECTORS ENGAGES AN INDEPENDENT COMPENSATION CONSULTANT TO REVIEW OUR COMPENSATION PHILOSOPHY, COMPETITIVE PAY LEVELS FOR ALL EMPLOYEES, AND REASONABLENESS OF EXECUTIVE COMPENSATION. THIS INDEPENDENT CONSULTATION WAS LAST UNDERTAKEN DURING THE FISCAL YEAR ENDED JUNE 30, 2021. Form 990, Part VI, Line 15b Process to establish compensation of other employees SEE RESPONSE TO LINE 15A. Form 990, Part VI, Line 19 Required documents available to the public Financial Statements, governing documents, and conflict of interest policies are not required disclosures pursuant to Internal Revenue Service Code (IRC) Section 6104. These documents are not available to the public at this time.