2022-02-02T09:30:22-06:00 2021-06-30 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2020-07-01 300748997 The Economic Club of Chicago ECON 3127261628 33 N Dearborn St 1700 CHICAGO IL 60602 David Snyder PRESIDENT/CEO 2022-02-02 true David Snyder 999009999 Mallory Fairless P10321579 3128997000 2020 2022-09-23 18:48:47Z David Snyder 33 N Dearborn St 1700 CHICAGO IL 60602 3418100 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 18 273 0 0 0 0 3830604 3274503 131437 127241 0 0 3962041 3401744 0 0 0 0 2056371 2130919 0 0 0 1868565 945090 3924936 3076009 37105 325735 6918499 8511691 2244289 2086047 4674210 6425644 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 2603746 3274503 THE ECONOMIC CLUB OF CHICAGO HELD 156 EDUCATIONAL PROGRAMS DURING THE 2020-2021 PROGRAM YEAR. TOTAL ATTENDANCE AT THESE PROGRAMS WAS 13,149 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 2020-2021 FISCAL YEAR INCLUDED THE HONORABLE PRESIDENT BARACK OBAMA, DR. ANTHONY FAUCI, DR. KENNETH FRAZIER, ARNE DUNCAN, JOHN ROGERS, JOHN DONAHOE, STEPHEN SCHWARZMAN, BILL GATES, SAL KHAN, BRIAN CORNELL, SCOTT KIRBY, JANE FRASER AND TRACEE ELLIS ROSS. 2603746 true false false false false false false false false true false false false 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 8 0 true 18 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 Christopher T Bertschy SECRETARY & EXECUTIVE COMMITTEE MEMBER 1.0 X X 0 0 0 DAVID SNYDER PRESIDENT AND CEO (Beg. Aug 2020) 40.0 X X 159653 0 3340 DEBRA CAFARO CHAIR & EXECUTIVE COMMITTEE MEMBER 2.0 X X 0 0 0 DONNA F ZARCONE PRESIDENT AND CEO (thru Aug 2020) 40.0 X X 377082 0 13337 Mohan Rao TREASURER & EXECUTIVE COMMITTEE MEMBER 2.0 X X 0 0 0 Ryan Ruskin SECOND VICE CHAIR OF FORUMS & EXECUTIVE COMMITTEE MEMBER 1.0 X X 0 0 0 TED SOUDER FIRST VICE CHAIR OF PROGRAMS & EXECUTIVE COMMITTEE MEMBER 1.0 X X 0 0 0 ANDREA ZOPP BOARD MEMBER 0.2 X 0 0 0 ANIL KUMAR BOARD MEMBER 0.2 X 0 0 0 BRIDGET O'KEEFE BOARD MEMBER 0.2 X 0 0 0 CHARLES L EVANS BOARD MEMBER 0.2 X 0 0 0 Charles R Matthews BOARD & EXECUTIVE COMMITTEE MEMBER 0.2 X 0 0 0 CHRISTINE LEAHY BOARD MEMBER 0.2 X 0 0 0 EILEEN MITCHELL BOARD MEMBER 0.2 X 0 0 0 ERIC SMITH BOARD & FINANCE COMMITTEE MEMBER 0.2 X 0 0 0 GAVIN HATTERSLEY BOARD MEMBER 0.2 X 0 0 0 GREGORY D WASSON 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 JEANNE GANG BOARD MEMBER 0.2 X 0 0 0 Jennifer Scanlon 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 0.2 X 0 0 0 JUAN R LUCIANO BOARD MEMBER 0.2 X 0 0 0 KEITH CARDOZA BOARD MEMBER 0.2 X 0 0 0 KUNAL KAPOOR BOARD MEMBER 0.2 X 0 0 0 KYM M HUBBARD BOARD MEMBER 0.2 X 0 0 0 MARY DILLON 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 MELLODY HOBSON EX OFFICIO & EXECUTIVE COMMITTEE MEMBER 0.2 X 0 0 0 MICHAEL C KRAUSS BOARD MEMBER 0.2 X 0 0 0 MICHAEL J WALKER BOARD MEMBER 0.2 X 0 0 0 Michael O'Grady BOARD MEMBER 0.2 X 0 0 0 MICHAEL REINSDORF BOARD MEMBER 0.2 X 0 0 0 Michelle Collins BOARD & EXECUTIVE COMMITTEE MEMBER 0.2 X 0 0 0 OSCAR MUNOZ BOARD MEMBER 0.2 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 REEVE B WAUD BOARD & EXECUTIVE COMMITTEE MEMBER 0.2 X 0 0 0 ROXANNE MARTINO BOARD MEMBER 0.2 X 0 0 0 Sally Blount BOARD MEMBER 0.2 X 0 0 0 Sally Grimes BOARD MEMBER 0.2 X 0 0 0 Scott Swanson BOARD MEMBER 0.2 X 0 0 0 SEAN M CONNOLLY BOARD & EXECUTIVE COMMITTEE MEMBER 0.2 X 0 0 0 SID BALA BOARD MEMBER 0.2 X 0 0 0 THEODORE L DYSART BOARD MEMBER 0.2 X 0 0 0 Valerie Jarrett BOARD MEMBER 0.2 X 0 0 0 Andrew M Leasure Vice President & Chief Financial Officer 40.0 X 154800 0 16197 KATIE ESPOSITO VICE PRESIDENT & CHIEF PROGRAMS OFFICER 40.0 X 157964 0 24384 Anthony Vena DIRECTOR OF TECHNOLOGY 40.0 X 112550 0 18530 Emily Whelchel Director of Membership 40.0 X 106246 0 13802 1068295 0 89590 6 false true false 0 0 0 0 0 0 0 0 0 MEMBERSHIP DUES 900099 3057147 3057147 0 0 PROGRAMS & EVENTS 900099 217356 217356 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3274503 127241 0 0 127241 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 16356 0 16356 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3401744 3274503 0 127241 0 0 0 0 0 0 0 0 849499 756130 93369 0 0 0 0 0 887719 790149 97570 0 161634 52039 109595 0 113535 101056 12479 0 118532 105504 13028 0 0 0 0 0 0 0 0 0 30796 0 30796 0 0 0 0 0 0 0 16356 0 16356 0 211694 190230 21464 0 0 0 0 0 150454 137712 12742 0 142327 126684 15643 0 0 0 0 0 181336 157762 23574 0 3450 3418 32 0 0 0 0 0 3336 2969 367 0 0 0 0 0 0 0 0 0 125377 109078 16299 0 17490 8585 8905 0 PROGRAM MEALS 1820 1820 0 0 PROGRAM FACILITY 59772 59772 0 0 COMMITTEE FACILITY 882 838 44 0 0 0 0 0 3076009 2603746 472263 0 0 0 0 0 358854 451520 0 0 0 0 3180 900 0 0 0 0 0 0 0 0 55281 126271 1196750 782374 519144 414376 5982040 7518624 0 0 0 0 0 0 6918499 8511691 823704 730078 0 0 0 0 0 0 0 0 0 0 0 0 0 1420585 1355969 2244289 2086047 X 4674210 6425644 0 0 0 0 0 0 0 0 4674210 6425644 6918499 8511691 325735 1425699 0 0 0 0 X false true X true false X 0 3350793 3939359 3827400 3830604 3274503 18222659 0 0 0 3350793 3939359 3827400 3830604 3274503 18222659 107515 130445 124155 103436 90600 556151 0 0 0 0 0 0 107515 130445 124155 103436 90600 556151 17666508 150467 122756 122427 131437 127241 654328 0 150467 122756 122427 131437 127241 654328 0 0 0 0 0 0 0 3501260 4062115 3949827 3962041 3401744 18876987 0.9359 0.9341 0.03 0.04 X 605774 297839 307935 258018 183427 74591 332958 301108 31850 414376 DEFERRED COMPENSATION LIABILITY 1355969 1355969 X 5607780 1425699 796693 0 2222392 3385388 16356 0 16356 3401744 3856346 796693 0 796693 3059653 16356 0 16356 3076009 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, 2021 and 2020. X X X X X false false false false false false false false false DAVID SNYDER PRESIDENT AND CEO (Beg. Aug 2020) 159653 0 0 0 0 0 2533 0 807 0 162993 0 0 0 DONNA F ZARCONE PRESIDENT AND CEO (thru Aug 2020) 274867 0 102215 0 0 0 11400 0 1937 0 390419 0 0 0 KATIE ESPOSITO VICE PRESIDENT & CHIEF PROGRAMS OFFICER 136564 0 21400 0 0 0 6521 0 17863 0 182348 0 0 0 Andrew M Leasure Vice President & Chief Financial Officer 135200 0 19600 0 0 0 6192 0 10005 0 170997 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 2020-2021 PROGRAM YEAR THE CLUB HAD A TOTAL OF 273 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 Dr. Helene Gayle, Michael O'Grady, SCOTT SANTI, AND CHARLES EVANS - Business relationship, MARY DILLON, Michelle Collins, AND SALLY BLOUNT - Business relationship, MARY DILLON AND MELLODY HOBSON - Business relationship, ROXANNE MARTINO AND DEBRA CAFARO - 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 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.