2021-05-17T18:06:46-05:00 2020-06-30 946214841 ARMANINO LLP 12657 ALCOSTA BLVD STE 500 SAN RAMON CA 945834600 990 2019-07-01 940399260 THE COMMONWEALTH CLUB OF CALIFORNIA COMM 4155976700 110 THE EMBARCADERO SAN FRANCISCO CA 94105 NICHOLAS C LEON VP OF FINANCE/CFO 4155976700 2021-05-17 1 KATY BROWN P00650274 9257902600 2021-05-14 2019 2022-09-23 18:48:47Z NICHOLAS C LEON 110 THE EMBARCADERO SAN FRANCISCO CA 94105 11541961 0 X WWW.COMMONWEALTHCLUB.ORG X 1903 CA TO BE THE LEADING NATIONAL FORUM OPEN TO ALL FOR THE IMPARTIAL DISCUSSION OF IMPORTANT PUBLIC ISSUES THAT AFFECT MEMBERSHIP, COMMUNITY, AND THE NATION. 48 48 69 54 861814 14212 7941046 6525695 1932633 1316636 248200 112838 932504 1271365 11054383 9226534 0 0 0 0 4562002 4593544 0 0 1727895 5342461 4010908 9904463 8604452 1149920 622082 34343588 34005907 8946560 8354059 25397028 25651848 TO BE THE LEADING NATIONAL FORUM OPEN TO ALL FOR THE IMPARTIAL DISCUSSION OF PUBLIC ISSUES IMPORTANT TO THE MEMBERSHIP, COMMUNITY, AND NATION. 0 0 6190442 1366404 GENERAL PROGRAMS - THE CLUB PROVIDES A FORUM WHERE THE NATION'S AND THE WORLD'S "THOUGHT LEADERS" ADDRESS CLUB MEMBERS AND THE GENERAL PUBLIC. THE TOPICS INCLUDE POLITICS, CULTURE, ECONOMICS, BUSINESS AND FOOD TO NAME A FEW. 6190442 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 57 0 1 69 1 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 X 48 48 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X NICHOLAS LEON 4155976700 110 THE EMBARCADERO SAN FRANCISCO CA 94105 EVELYN DILSAVER BOARD CHAIR 5.00 X X 0 0 0 JAMES STROTHER VICE CHAIR 5.00 X X 0 0 0 DR JALEH DAIE SECRETARY 5.00 X X 0 0 0 JOHN FARMER TREASURER 5.00 X X 0 0 0 ROBERT ADAMS DIRECTOR 5.00 X 0 0 0 JOHN ALLEN DIRECTOR 5.00 X 0 0 0 SCOTT ANDERSON DIRECTOR 5.00 X 0 0 0 DAN ASHLEY DIRECTOR 5.00 X 0 0 0 MASSEY BAMBARA DIRECTOR (THRU 12/19) 5.00 X 0 0 0 MARY BITTERMAN DIRECTOR 5.00 X 0 0 0 HARRY BLOUNT DIRECTOR 5.00 X 0 0 0 JOHN BOLAND DIRECTOR 5.00 X 0 0 0 MARYLES CASTO DIRECTOR 5.00 X 0 0 0 CHARLES COLLINS DIRECTOR 5.00 X 0 0 0 DENNIS COLLINS DIRECTOR 5.00 X 0 0 0 KEVIN COLLINS DIRECTOR (THRU 02/20) 5.00 X 0 0 0 MARY CRANSTON DIRECTOR 5.00 X 0 0 0 SUSIE CRANSTON DIRECTOR 5.00 X 0 0 0 KERRY CURTIS DIRECTOR 5.00 X 0 0 0 DORIAN DALEY DIRECTOR 5.00 X 0 0 0 LEE DUTRA DIRECTOR (THRU 12/19) 5.00 X 0 0 0 JOSEPH EPSTEIN DIRECTOR 5.00 X 0 0 0 JEFFREY FARBER DIRECTOR 5.00 X 0 0 0 CAROL FLEMING DIRECTOR 5.00 X 0 0 0 LESLIE GARVIN DIRECTOR 5.00 X 0 0 0 PAUL GINSBURG DIRECTOR 5.00 X 0 0 0 JAMES HORMEL DIRECTOR 5.00 X 0 0 0 MARY HUSS DIRECTOR 5.00 X 0 0 0 JULIE KANE DIRECTOR (THRU 12/19) 5.00 X 0 0 0 LATA KRISHNAN DIRECTOR 5.00 X 0 0 0 JOHN LECKRONE DIRECTOR 5.00 X 0 0 0 MARY MARCY DIRECTOR 5.00 X 0 0 0 LENNY MENDONCA DIRECTOR 5.00 X 0 0 0 ANNA MOK DIRECTOR 5.00 X 0 0 0 MAUREE PERRY DIRECTOR (THRU 12/19) 5.00 X 0 0 0 DONALD PIERCE DIRECTOR 5.00 X 0 0 0 BRUCE RAABE DIRECTOR 5.00 X 0 0 0 SKIP RHODES DIRECTOR 5.00 X 0 0 0 KAUSIL RAJGOPAL DIRECTOR 5.00 X 0 0 0 BILL RING DIRECTOR 5.00 X 0 0 0 RICHARD RUBIN DIRECTOR 5.00 X 0 0 0 MARTHA RYAN DIRECTOR 5.00 X 0 0 0 GEORGE SCALISE DIRECTOR 5.00 X 0 0 0 GEORGE SMITH DIRECTOR 5.00 X 0 0 0 CHARLOTTE SHULTZ DIRECTOR 5.00 X 0 0 0 MARC SPENCER DIRECTOR (THRU 01/20) 5.00 X 0 0 0 TAD TAUBE DIRECTOR 5.00 X 0 0 0 CHARLES TRAVERS DIRECTOR 5.00 X 0 0 0 KIMBERLY WU DIRECTOR 5.00 X 0 0 0 DON WEN DIRECTOR 5.00 X 0 0 0 COLLEEN WILCOX DIRECTOR 5.00 X 0 0 0 BRENDA WRIGHT DIRECTOR 5.00 X 0 0 0 JED YORK DIRECTOR 5.00 X 0 0 0 MARK ZITTER DIRECTOR 5.00 X 0 0 0 GLORIA C DUFFY PRESIDENT & CEO 40.00 X 212442 0 28565 NICHOLAS C LEON VICE PRESIDENT 40.00 X 174027 0 13924 MICHELLE WOOD VICE PRESIDENT 40.00 X 104908 0 23906 GEORGE DOBBINS VICE PRESIDENT 40.00 X 99095 0 17878 KIMBERLY A MAAS VICE PRESIDENT 40.00 X 96987 0 9376 687459 0 93649 3 0 1 0 GABRIEL GROUP 3190 RIDER TRAIL SOUTH EARTH CITY MO 93045 MEMBERSHIP CORRESPONDENCE 323933 PATRONMANAGER 650 SMITHFIELD ST PITTSBURGE PA 15222 SOFTWARE PLATFORM INTEGRATION 160804 2 976764 715542 4833389 12966 6525695 CLUB PROGRAMS 900004 1316636 1316636 1316636 121432 121432 861814 0 861814 861814 861814 2226796 2235390 -8594 -8594 -8594 0 715542 68321 -68321 -68321 54198 11716 42482 42482 REFUND FOR PROP. TAXES 900099 385622 385622 OTHER INCOME 900099 49768 49768 435390 9226534 1366404 861814 472621 785779 555637 61749 168393 2987647 2112615 234777 640255 84675 59875 6654 18146 444251 278620 94235 71396 291192 206273 22467 62452 21328 21328 319825 262270 42141 15414 32390 26318 3308 2764 498477 399326 44813 54338 252187 183399 58057 10731 438328 388784 27194 22350 189115 176989 2032 10094 7897 2883 1218 3796 354202 319490 15939 18773 950134 855329 44518 50287 120740 109274 5265 6201 MEMBERSHIP 456236 456236 PROGRAM EXPENSES 154038 51538 420 102080 BOOK EXPENSES 125272 121083 4189 OFFSITE VENUE EXPENSES 80739 80739 10000 10000 8604452 6190442 686115 1727895 318345 714266 1227544 1972005 1343304 1184324 183973 15264 27433 21251 118990 190387 30492115 3831660 27448554 26660455 3675445 3247955 34343588 34005907 507192 540392 703676 612393 7414844 5813125 320848 1388149 8946560 8354059 X 21583397 21868763 3813631 3783085 25397028 25651848 34343588 34005907 X 622082 -168918 -198344 X X 0 1 X 1 0 X 6145780 10075331 6418484 7941046 6525695 37106336 840702 1616663 1691014 1932633 1316636 7397648 220897 213154 225180 111041 0 770272 7207379 11905148 8334678 9984720 7842331 45274256 645000 1359500 1995000 2607903 3239556 9846959 0 645000 1359500 1995000 2607903 3239556 9846959 35427297 88106 92410 708396 560616 983246 2432774 88106 92410 708396 560616 983246 2432774 0 14122 14122 83082 142443 158185 157362 489588 1030660 7378567 12140001 9201259 10702698 9329287 48751812 0.72670 0.79200 0.04990 0.03220 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2546701 -36438 143260 2367003 2395992 240522 89813 2546701 2368752 27240 2395992 2376224 -7472 2368752 1349420 1035000 -8196 2376224 0.00000 1.00000 0.00000 0 0 2295000 2295000 25661362 1807048 23854314 1345855 1165920 179935 1189898 858692 331206 26660455 INTEREST RATE SWAP AGREEMENT 519192 BANK OF AMERICA/PPP LOAN 868957 1388149 X 9048004 -168918 -168918 9216922 21328 -11716 9612 9226534 8594840 11716 11716 8583124 21328 21328 8604452 PART V, LINE 4: THE CLUB'S ENDOWMENT FUND CONSISTS OF SEVERAL DONOR-RESTRICTED ENDOWMENT FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF GOVERNORS TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE CLUB HAS A POLICY OF TRANSFERRING ANY INVESTMENT RETURNS, OTHER THAN THOSE WHICH ARE STIPULATED BY THE DONOR TO REMAIN IN PERPETUITY, TO EITHER NET ASSETS WITH DONOR RESTRICTIONS OR NET ASSETS WITHOUT DONOR RESTRICTIONS. THE CLUB'S SPENDING POLICY LIMITS THE WITHDRAWALS TO THE EXPECTED LONG-TERM RATE OF RETURN AT AN AVERAGE OF FIVE PERCENT. THE CLUB UTILIZES A SPENDING RATE OF THREE TO FIVE PERCENT OF A TRAILING TWELVE QUARTER AVERAGE OF THE FAIR VALUE OF THE ENDOWMENT FUNDS FOR THIS PURPOSE. ANY ANNUAL SPENDING AMOUNT REMAINING AT THE END OF THE FISCAL YEAR CONTINUES TO BE AVAILABLE FOR THE SUCCEEDING TWO YEARS. PART X, LINE 2: THE CLUB IS A QUALIFIED ORGANIZATION EXEMPT FROM FEDERAL INCOME AND CALIFORNIA FRANCHISE TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701(D) OF THE CALIFORNIA REVENUE FRANCHISE TAX CODE, RESPECTIVELY. THE CLUB ONLY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED AND CHANGES IN RECOGNITION OR MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGMENT OCCURS. THE CLUB HAS EVALUATED ITS CURRENT TAX POSITIONS AND HAS CONCLUDED THAT AS OF JUNE 30, 2020, IT DOES NOT HAVE ANY SIGNIFICANT TAX POSITIONS FOR WHICH A RESERVE WOULD BE NECESSARY. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -11,716. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 11,716. ANNUAL DINNER 630371 630371 7281 NEW YEARS EVE PARTY 55952 55952 29579 4754 8930 2 29219 29219 6093 1250 10434 715542 715542 35672 6004 26645 68321 -68321 X X X 0 0 0 0 0 0 0 1 0 GLORIA C DUFFY PRESIDENT & CEO 212212 0 230 0 0 0 8069 0 20496 0 241007 0 0 0 NICHOLAS C LEON VICE PRESIDENT 173774 0 253 0 0 0 6962 0 6962 0 187951 0 0 0 PART I, LINE 7 A SMALL NON-FIXED BONUS MAY BE PAID DURING THE HOLIDAYS TO BE DETERMINED BY THE PRESIDENT AND VP OF FINANCE. IT IS PRORATED BASED ON WHETHER OR NOT THE EMPLOYEE HAS BEEN THERE FOR THE FULL YEAR. FORM 990, PART VI, SECTION A, LINE 2 MARY CRANSTON AND SUSIE CRANSTON HAVE A FAMILIAL RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE REVIEWS THE FORM 990 IN DETAIL. ONCE THE FORM IS ACCEPTABLE TO THE AUDIT COMMITTEE, IT IS FORWARDED TO THE FULL BOARD BEFORE FILING WITH THE TAXING AUTHORITIES. FORM 990, PART VI, SECTION B, LINE 12C THE PRESIDENT AND CEO SEND A LETTER ANNUALLY TO THE OFFICERS AND THE BOARD OF GOVERNORS. THE LETTER INCLUDES A QUESTIONNAIRE REQUESTING DISCLOSURE OF POTENTIAL CONFLICTS. ALL EMPLOYEES ARE COVERED BY THE CONFLICT OF INTEREST POLICY CONTAINED IN THE EMPLOYEE HANDBOOK. IN THE CASE OF A CONFLICT OF INTEREST BEING DISCOVER OR REPORTED, THE CLUB'S AUDIT COMMITTEE (CHARGED WITH RISK MANAGEMENT) IS IMMEDIATELY CALLED UPON TO ASSESS THE LEVEL OF CONFLICT AND ANY ASSOCIATED RISK TO THE CLUB. ITS FINDING/RECOMMENDATION IS THEN PASSED TO THE EXECUTIVE COMMITTEE OF THE BOARD FOR FINAL DISPOSITION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS REVIEWED BY A PERSONNEL COMMITTEE. THE BOARD'S PERSONNEL COMMITTEE IS COMPRISED OF INDEPENDENT PERSONS. THE PERSONNEL COMMITTEE UTILIZES INFORMATION AVAILABLE TO DETERMINE THE APPROPRIATENESS OF THE COMPENSATION PAID. THE INFORMATION USED INCLUDES COMPARABLE STUDIES OF SIMILAR ORGANIZATIONS AND POSITIONS, MARKET FACTORS AND RESPONSIBILITIES UNIQUE TO THE ORGANIZATION. UPON COMPLETION OF ITS REVIEW, THE PERSONNEL COMMITTEE MAKES ITS RECOMMENDATION TO THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE REQUIRED DOCUMENTS ARE AVAILABLE FOR PUBLIC INSPECTION UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP -198,344. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.