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VP AND CFO 9143782000 2020-04-13 true CHRISTINA ROSSETTI P01491094 2127589700 2020-04-13 167.68.102.5 13407320201055000139 2020-04-14 P 3334E7B7F03F731422ECC73C4D529CE40FFEDC8C 2EFB9A2273A280871CB6E2783C42C633A2C5F4AB 2018 2021-01-29 14:40:06Z MARTA L TELLADO 101 TRUMAN AVENUE YONKERS NY 107031057 265418986 false X WWW.CONSUMERREPORTS.ORG X 1936 NY WE ARE AN INDEPENDENT, NONPROFIT ORGANIZATION THAT WORKS SIDE BY SIDE WITH CONSUMERS TO CREATE A FAIRER, SAFER, AND HEALTHIER WORLD. 15 15 690 20 7115389 2117392 28650376 35065192 205372594 210164958 13444352 8369180 982717 947250 248450039 254546580 220703 160000 0 0 102919040 97906755 432058 356065 12017267 149442325 146905756 253014126 245328576 -4564087 9218004 417239171 387779531 248933023 219831245 168306148 167948286 X WE ARE AN INDEPENDENT, NONPROFIT ORGANIZATION THAT WORKS SIDE BY SIDE WITH CONSUMERS TO CREATE A FAIRER, SAFER, AND HEALTHIER WORLD. false false 195407405 210164958 CONSUMER INFORMATION, PRODUCT INFORMATION. SEE SCHEDULE O FOR ADDITIONAL INFORMATION. 15427519 EDUCATION AND ADVOCACY PROGRAMS FOR HEALTH AND SAFETY. SEE SCHEDULE O FOR ADDITIONAL INFORMATION. 210834924 true true false true false false false false false false true false false false true true false true false false true true false true false false false true false true true false false false false false false false false false false true false false false false true true true false false true 251 0 true 690 true true true true CA false false false true true false false false false false false X 15 15 false false false false true true false true true false true true true true true true true true true true false AL AK CA CT FL GA HI IL KS KY ME MD MA MI MN MS NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WV WI X X MR MICHAEL MARTIN CPA 9143782000 101 TRUMAN AVENUE YONKERS NY 107031044 X ANNETTE LOVOI CHAIR 2.0 0.0 X 0 0 0 THOMAS C VOICE VICE CHAIR 2.0 0.0 X 0 0 0 JOAQUIN ALVARADO SECRETARY 2.0 0.0 X 0 0 0 MARTIN SCHNEIDER TREASURER THRU 3/19/19 2.0 0.0 X 0 0 0 DEBORAH A COWAN TREASURER AS OF 5/17/19 2.0 0.0 X 0 0 0 MARCIA S ARONOFF DIRECTOR 2.0 0.0 X 0 0 0 ROBERT E BAENSCH DIRECTOR THRU 10/10/18 2.0 0.0 X 0 0 0 BARAK BERKOWITZ DIRECTOR AS OF 10/10/18 2.0 0.0 X 0 0 0 KATHLEEN ENGEL DIRECTOR AS OF 10/10/18 2.0 0.0 X 0 0 0 JOANNE HOVIS DIRECTOR AS OF 10/10/18 2.0 0.0 X 0 0 0 EDMUND MIERZWINSKI DIRECTOR 2.0 0.0 X 0 0 0 WILLARD P OGBURN DIRECTOR 2.0 0.0 X 0 0 0 A YESIM ORHUN DIRECTOR 2.0 0.0 X 0 0 0 BETSY D SCOLNIK DIRECTOR 2.0 0.0 X 0 0 0 ANDREW SHARPLESS DIRECTOR THRU 5/28/19 2.0 0.0 X 0 0 0 MICAH L SIFRY DIRECTOR 2.0 0.0 X 0 0 0 CALVIN SIMS DIRECTOR 2.0 0.0 X 0 0 0 LATANYA SWEENEY DIRECTOR THRU 6/7/18 2.0 0.0 X 0 0 0 ELLEN TAUS DIRECTOR 2.0 0.0 X 0 0 0 THOMAS A WATHEN DIRECTOR THRU 10/10/18 2.0 0.0 X 0 0 0 MARTA L TELLADO PRESIDENT & CEO 45.0 0.2 X 651475 0 49066 ERIC WAYNE VP & CFO 45.0 0.2 X 362597 0 61697 LEONORA WIENER SR. 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IS EXEMPT WITH THE IRS UNDER SECTION 509(A)(2). HOWEVER, TO SUPPORT THE USE OF SPECIAL 2% RULE FOR REPORTING CONTRIBUTIONS ON SCHEDULE B, THE ORGANIZATION HAS FILLED OUT PART II. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED true true true 6128 true 120337 true 602400 false true 418835 true 57527 false 1205227 false SCHEDULE C, PART II-B LINE 1A: VOLUNTEERS TESTIFY BEFORE CONGRESS AND STATE LEGISLATURES; SPEAK AT PRESS CONFERENCES REGARDING STATE AND FEDERAL LEGISLATION; LOBBY LEGISLATORS. LINE 1B - PAID STAFF OR MANAGEMENT: PLEASE SEE BELOW ACTIVITIES, AS STAFF AND MANAGEMENT ARE INCLUDED IN THOSE ACTIVITIES AND TOTALS. LINE 1C - MEDIA ADVERTISEMENTS: MEDIA SPACE PURCHASED IN PRINT AND RADIO. LINE 1D - MAILING TO MEMBERS, LEGISLATORS, OR THE PUBLIC: ACTION ALERTS TO THE PUBLIC. LINE 1E - PUBLICATIONS, OR PUBLISHED OR BROADCAST STATEMENTS: LOBBYING MESSAGES REGARDING LEGISLATION THAT APPEAR IN CONSUMER REPORTS AND ITS OTHER PUBLICATIONS. LINE 1G - DIRECT CONTACT WITH LEGISLATORS, THEIR STAFFS, GOVERNMENT OFFICIALS, OR LEGISLATIVE BODY: LETTERS; FACE-TO-FACE COMMUNICATIONS, EMAILS; TELEPHONE CALLS WITH STATE AND FEDERAL LEGISLATORS, INCLUDING PREPARATION; TRAVEL TIME, LEGISLATIVE TESTIMONY. LINE 1H - RALLIES, DEMONSTRATIONS, SEMINARS, CONVENTIONS, SPEECHES, LECTURES, OR ANY SIMILAR MEANS: SPEECHES; RALLIES; CONFERENCES WHERE CR STAFF SUPPORTS OR OPPOSES STATE AND FEDERAL LEGISLATION OR RULEMAKING PUBLICLY. 11935255 11935255 70400739 45477167 24923572 795261 351155 444106 24884000 21186761 3697239 95803848 74345594 21458254 62458426 0 PENSION LIABILITY 24886000 CHARITABLE GIFT ANNUITY 9714929 LIABILITY DERVIATIVE INSTRUMENT 5029385 ASC 712 LIABILITY 2084590 LIFETIME SUBSCRIBER LIABILITY 1420000 CRUT LIABILITY 907656 OTHER DEFERRED 323295 44365855 X 244705000 -6495260 -3079112 -9574372 254279372 319461 -52253 267208 254546580 245205000 5865 5865 245199135 319461 -190020 129441 245328576 RECONCILIATION OF REVENUE SCHEDULE D, PART XI, LINE 2D UNREALIZED LOSS ON INTEREST RATE SWAP $ (913,000) PENSION RELATED CHARGES $ (2,299,000) CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS $ 132,888 -------------- $ (3,079,112) SCHEDULE D, PART XI, LINE 4B CUAF CONTRIBUTION TO CONSUMER REPORTS $ 137,138 RENTAL EXPENSES $ (190,074) OTHER ROUNDING $ 683 -------------- $ (52,253) RECONCILIATION OF EXPENSES SCHEDULE D, PART XII, LINE 2D CONSUMERS UNION ACTION FUND EXPENSES $ 5,865 SCHEDULE D, PART XII, LINE 4B RENTAL EXPENSES $ (190,074) OTHER ROUNDING $ 54 ------------- $ (190,020) SCHEDULE D, PART X, LINE 2 FIN 48 UNCERTAINTY IN TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, CONSUMER REPORTS [CR] IS EXEMPT FROM TAXES ON INCOME, EXCEPT FOR UNRELATED BUSINESS INCOME. FOR THE YEARS ENDED MAY 31, 2019 AND 2018, PROVISIONS FOR INCOME TAXES WERE $639,000 AND $889,000, RESPECTIVELY. IN ACCORDANCE WITH ASC TOPIC 740, INCOME TAXES, CR EVALUATED ITS TAX POSITIONS AND DETERMINED THAT ALL ARE MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION. ACCORDINGLY, CR BELIEVES THAT THERE ARE NO UNRECOGNIZED BENEFITS OR APPLICABLE INTEREST AND PENALTIES THAT SHOULD BE RECORDED. CR'S TAX RETURNS FOR THE FISCAL YEARS ENDED MAY 31, 2016, 2017 AND 2018 ARE SUBJECT TO EXAMINATION BY FEDERAL, STATE AND LOCAL AUTHORITIES. true Europe (Including Iceland and Greenland) Program Services PUBLICATION INFO. 964952 North America Program Services PUBLICATION INFO. 557472 Europe (Including Iceland and Greenland) Grantmaking 30000 1552424 1552424 Europe (Including Iceland and Greenland) SPONSORSHIP SUPPORT OF CONSUMERS INTERNATIONAL 30000 WIRE TRANS. 1 false false false false false false PART I, LINE 3, COLUMN (F) AND PART II, LINE 1 THE ACCRUAL METHOD OF ACCOUNTING WAS USED IN PART I, LINE 3, COLUMN (F) AND PART II, LINE 1. PART II - GRANTS AND OTHER ASSISTANCE TO ORGANIZATIONS OUTSIDE OF THE US GRANTEES ARE REQUIRED TO SUBMIT PROGRAM AND FINANCIAL REPORTS AT THE CONCLUSION OF THE PROJECT, INCLUDING A LIST OF GRANT-RELATED EXPENDITURES, AND A SUMMARY OF DELIVERABLES AND PROJECT RESULTS. THE TIMING OF THE REPORTS IS DETERMINED ACCORDING TO A SCHEDULE CONTAINED IN AN EXECUTED SUB-GRANT AGREEMENT BETWEEN CR AND THE GRANTEE. 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ACTIVITY: MONITOR SOCIAL NETWORKS FOR DEVELOPMENT ACTIVITY FUNDRAISER: ASKWITH&CO ACTIVITY: CONSULTING SERVICES IN DEVELOPING A CROWDFUNDING CAMPAIGN FUNDRAISER: TOM GAFFNY CONSULTING ACTIVITY: STRATEGIC AND CREATIVE CONSULTING ON DIRECT MAIL FUNDRAISING FUNDRAISER: IMPACT COMMUNICATIONS INC ACTIVITY: DONOR STEWARDSHIP STRATEGY CONSULTING true CONSUMER FEDERATION OF AMERICA 1620 I STREET NW - SUITE 200 WASHINGTON DC 20006 520880625 501(C)(3) 80000 STATE AND LOCAL GRANT SUPPORT CONSUMER FEDERATION OF AMERICA 1620 I STREET NW - SUITE 200 WASHINGTON DC 20006 520880625 501(C)(3) 25000 SUPPORT FOR STATE & LOCAL MEETINGS US PIRG EDUCATION FUND 600 PENNSYLVANIA AVE SE 4TH FL WASHINGTON DC 20003 521384240 501(C)(3) 25000 SUPPORT FOR ADVOCACY AND PUBLIC EDUCATION WORK ON STATE AND FEDERAL CONSUMER PROTECTION ISSUES. 2 CRITERIA FOR SELECTING PROJECTS FOR FUNDING THE CRITERIA FOR SELECTING PROJECTS FOR FUNDING THROUGH THE COLSTON E. WARNE SMALL GRANTS PROGRAM INCLUDES THE FOLLOWING: - THE PROJECTS SHOULD BE CONSISTENT WITH CR'S MISSION TO PROVIDE INFORMATION AND ADVICE TO CONSUMERS ON GOODS, SERVICES, HEALTH AND PERSONAL FINANCE; AND TO INITIATE AND COOPERATE WITH INDIVIDUAL AND GROUP EFFORTS TO MAINTAIN AND ENHANCE THE QUALITY OF LIFE FOR CONSUMERS. - THE PROJECTS SHOULD BE HIGH IMPACT PROJECTS THAT PROVIDE A SIGNIFICANT RETURN FOR THE AMOUNT OF MONEY INVESTED. THEY SHOULD BE RESULT-ORIENTED, AND HAVE TANGIBLE GOALS AND OBJECTIVES. - THE ORGANIZATION SPONSORING THE PROJECT SHOULD HAVE A CLEAR PLAN FOR DEVELOPING ALTERNATE SOURCES OF FUNDING, SO THAT THE PROJECT CAN BECOME SELF-SUPPORTING AND CONTINUE WHEN THE GRANT PERIOD ENDS. - IF POSSIBLE, THE PROJECTS SHOULD BE REPLICABLE, AND PROVIDE A MODEL FOR ORGANIZING AND ADVOCACY ON OTHER CONSUMER AND PUBLIC INTEREST ISSUES, OR IN OTHER LOCATIONS. - WE ARE ESPECIALLY INTERESTED IN PROJECTS THAT PROVIDE DIRECT BENEFITS TO LOW-INCOME AND MINORITY CONSUMERS. - WHERE POSSIBLE, PROJECTS SHOULD OBTAIN MATCHING FUNDS AND /OR LEVERAGE IN-KIND RESOURCES FROM OTHER SOURCES. - THE PROJECTS SHOULD MAKE SENSE IN THE CONTEXT OF THE NEEDS AND OPPORTUNITIES OF THE OVERALL CONSUMER MOVEMENT. THEY SHOULD CONTRIBUTE TO CAPACITY-BUILDING OF ORGANIZATIONS, AND HELP SUSTAIN THE CONSUMER MOVEMENT. - CR'S PURPOSES MUST BE MEASURED IN TERMS OF THE BENEFITS INDIRECTLY REALIZED BY THOUSANDS OF CONSUMERS WHO ARE BETTER INFORMED OR BETTER SERVED AS A CONSEQUENCE OF THE WORK WHICH THE MONEY SUPPORTS. "(CONSUMER REPORTS, MARCH, 1958, P. 163)". - BECAUSE OUR FUNDS ARE LIMITED, OUR OPERATING STRATEGY IS TO IDENTIFY PROSPECTIVE GRANTEES AND INVITE THEM TO APPLY. MOST GRANTS ARE AWARDED TO PRE-SELECTED ORGANIZATIONS. MONITORING GRANT FUNDS GRANTEES ARE REQUIRED TO SUBMIT PROGRAM AND FINANCIAL REPORTS AT THE CONCLUSION OF THE PROJECT, INCLUDING A LIST OF GRANT-RELATED EXPENDITURES, AND A SUMMARY OF DELIVERABLES AND PROJECT RESULTS. THE TIMING OF THE REPORTS IS DETERMINED ACCORDING TO A SCHEDULE CONTAINED IN AN EXECUTED SUB-GRANT AGREEMENT BETWEEN CR AND THE GRANTEE. X X X X X true false false false false false false true false MARTA L TELLADO PRESIDENT & CEO 632563 0 0 0 18912 0 45886 0 3180 0 700541 0 ERIC WAYNE VP & CFO 331499 0 15000 0 16098 0 32159 0 29538 0 424294 0 LEONORA WIENER SR. VP & COO 440049 0 15000 0 13841 0 44049 0 11451 0 524390 0 LISA CRIBARI VP, CHIEF HUMAN RESOURCES OFCR 303074 0 15000 0 12953 0 30832 0 18700 0 380559 0 BRENT DIAMOND VP,CON DATA MKT OP THRU 1/4/19 340770 0 0 0 32702 0 35189 0 29589 0 438250 0 JASON FOX VP, CHIEF DIGITAL OFFICER 381573 0 15000 0 3707 0 38301 0 29647 0 468228 0 MICHAEL HUBNER VP, GEN COUNSEL AS OF 6/4/18 230769 0 0 0 1495 0 0 0 1590 0 233854 0 LIAM MCCORMACK VP, RES, TESTING & INSIGHTS 371633 0 10000 0 9217 0 37268 0 23030 0 451148 0 KIMBERLY STEHLE VP, CHIEF MKT OFCR THRU 5/3/19 363485 0 15000 0 2814 0 35592 0 4300 0 421191 0 SHAR TAYLOR VP, CHF SOC IMPACT OFCR 7/9/18 290048 0 7500 0 1932 0 25444 0 10983 0 335907 0 MARK CONNELLY SR. DIR, PROD TEST THRU 9/7/18 176646 0 2000 0 246942 0 18223 0 21889 0 465700 0 GWENDOLYN BOUNDS VP, CHIEF CONTENT OFFICER 364182 0 15000 0 11458 0 35592 0 3180 0 429412 0 ESTHER HAN VP, CHIEF INTELLIGENCE OFCR 312875 0 25000 0 12653 0 16492 0 22584 0 389604 0 MATTHEW ANCHIN VP, CHIEF COMMUNICATIONS OFCR 333081 0 12000 0 4975 0 27586 0 18981 0 396623 0 HEATH GRAYSON DEPUTY GENERAL COUNSEL 303707 0 5000 0 9202 0 27392 0 29335 0 374636 0 AL RIZZOTTI FORMER DIR, FACILITIES MGMT 0 0 0 0 126353 0 0 0 0 0 126353 0 PART I, LINE 4A - SEVERANCE PAYMENTS AL RIZZOTTI - $126,353 PART I, LINE 7 COLUMN B (II) BONUS & INCENTIVE CONTRACTUAL DISCRETIONARY COMPENSATION BONUS (MERIT) ERIC WAYNE $15,000 $15,000 LEONORA WIENER $15,000 $15,000 LISA CRIBARI $15,000 $15,000 JASON FOX $15,000 $15,000 LIAM MCCORMACK $10,000 $10,000 KIMBERLY STEHLE $15,000 $15,000 SHAR TAYLOR $7,500 $7,500 MARK CONNELLY $2,000 $2,000 GWENDOLYN BOUNDS $15,000 $15,000 ESTHER HAN $25,000 $20,000 $5,000 MATTHEW ANCHIN $12,000 $12,000 HEATH GRAYSON $5,000 $5,000 Part II, Column (B)(iii) - Other Reportable Compensation Mark Connelly received a payout in the amount of $242,891 for accrued and unused vacation primarily earned under a previous vacation policy of Consumer Reports, Inc. A CITY OF YONKERS INDUSTRIAL DEVELOPMENT AGENCY 521294255 986083BN2 2005-12-22 47300000 MULTI-MODAL CIVAL FACILITY REVENUE false false false A 10250000 0 47300000 0 0 0 560305 1066734 0 9980132 35692829 0 true false true true A false false true false false 0.00068 0.03369 0.03437 false false false true A false false true false true true MORGAN STANLEY 30.5 false false false 0 false false A false PART II, LINE 11 - OTHER SPENT PROCEEDS $35,045,813 OF BOND PROCEEDS WERE USED TO REFUND BONDS ISSUED IN 1989, 1991, AND 1995. ISSUER FEE, TITLE INSURANCE, STATE BOND ISSUANCE CHARGE, SURVEY AND RECORDING FEES: $647,016 PART III, LINE 9 - ESTABLISHMENT OF WRITTEN PROCEDURES ON MAY 31, 2015, CR IMPLEMENTED A PROCESS TO MONITOR PRIVATE BUSINESS USE OF THE FACILITY. IN ADDITION, CR CONDUCTED A REVIEW OF THE PAST 5 YEARS OF THE FACILITY USE AND DETERMINED THAT NO PRIVATE USE OF THE FACILITY HAD OCCURRED THAT WAS NOT IN COMPLIANCE WITH THE NEW POLICY. X 12 307150 FAIR MARKET VALUE false true false SCHEDULE M, PART I, COLUMN (B) THE NUMBER 12 REPRESENTS THE NUMBER OF GIFT ITEMS OR CONTRIBUTORS THAT DONATED OF PUBLICLY TRADED SECURITIES RECEIVED BY CONSUMER REPORTS, INC. IN 2018. EACH GIFT ITEM OR CONTRIBUTOR HAS EITHER ONE OR MULTIPLE SHARES OF PUBLICLY TRADED SECURITIES THAT WERE DONATED TO THE ORGANIZATION. THESE SECURITES ARE SOLD FOR CASH PROMPTLY AFTER CR TAKES POSSESSION. FORM 990, PART III, LINE 4A CONSUMERS INFORMATION: CONSUMER REPORTS PUBLISHES AND DISSEMINATES INFORMATION AND ADVICE TO CONSUMERS REGARDING TOPICS SUCH AS CONSUMER GOODS, SERVICES, HEALTH AND PERSONAL FINANCE IN ORDER TO EFFECT ITS EDUCATIONAL PURPOSE. THE NUMBER OF PAID SUBSCRIBERS FOR EACH AS OF 5/31/19 INCLUDE CONSUMER REPORTS MAGAZINE 3,425,085; CONSUMER REPORTS ON HEALTH 585,419; AND CR ONLINE 2,828,651. CONSUMER REPORTS DOES NOT ACCEPT OUTSIDE ADVERTISING IN ANY OF ITS PUBLICATIONS. IN ADDITION, CONSUMER REPORTS DISSEMINATES CONSUMER INFORMATION THROUGH OTHER PRINT, RADIO, TELEVISION, ELECTRONIC PUBLISHING AND INTERACTIVE MEDIA. PRODUCT INFORMATION: CONSUMER REPORTS CONDUCTS INDEPENDENT AND IMPARTIAL TESTS AND ANALYSES ON A WIDE RANGE OF CONSUMER PRODUCTS AND SERVICES, SUCH AS ELECTRONICS, APPLIANCES, HOUSEHOLD PRODUCTS, INSURANCE, RECREATIONAL GOODS, AND CARS. THE TESTS AND SURVEYS EVALUATE HOW THE PRODUCTS AND SERVICES PERFORM AND EDUCATE CONSUMERS ON THE EXTENT TO WHICH THEY ARE CONVENIENT, SAFE, AND ECONOMICAL. DURING THE FISCAL YEAR ENDED 5/31/19, CONSUMER REPORTS CONDUCTED TESTS AND EVALUATIONS ON MORE THAN 2,600 MODELS OF VARIOUS CONSUMER PRODUCTS, MAKING USE OF ABOUT 60 LABORATORIES AND ITS AUTO TRACK. THE INFORMATION GATHERED AS A RESULT OF THESE TESTS IS DISSEMINATED TO THE GENERAL PUBLIC AS DESCRIBED ABOVE. FORM 990, PART III, LINE 4B EDUCATION AND ADVOCACY PROGRAMS: CONSUMER REPORTS IS DEDICATED TO IMPROVING THE LIVES OF CONSUMERS AND PROMOTING A FAIR, SAFE AND TRANSPARENT WORLD. WE ARE AN INDEPENDENT NONPROFIT ORGANIZATION THAT SEEKS TO EDUCATE CONSUMERS IN ORDER TO DRIVE A NEW ERA OF CONSUMER POWER AND PROTECTION. FOR MORE THAN 80 YEARS, WE HAVE BUILT A LEGACY OF TRUST AMONG CONSUMERS BY CONDUCTING RIGOROUS SCIENCE-BASED TESTING OF PRODUCTS, CHAMPIONING THE RIGHTS OF CONSUMERS IN THE HALLS OF GOVERNMENT, MOVING CORPORATE ACTORS TO PROVIDE CONSUMERS WITH GREATER TRANSPARENCY AND SAFETY, AND HELPING CONSUMERS TO NAVIGATE AN INCREASINGLY COMPLEX MARKETPLACE. WE PROVIDE OUR MILLIONS OF MEMBERS WITH INFORMATION THROUGH TESTING, RATINGS, AND REVIEW, AND WE HAVE MULTIPLE PLATFORMS FOR THE PUBLIC TO GET OUR INFORMATION AND ADVICE, INCLUDING VARIOUS ONLINE AND PRINT OUTLETS AND THE TELEVISION/VIDEO-ON-DEMAND PROGRAM "CONSUMER 101". ADDITIONALLY, CONSUMER REPORTS PROVIDES SUBSTANTIAL FREE CONSUMER EDUCATION INFORMATION AS A PUBLIC SERVICE THROUGH ONLINE ADVICE, ADVOCACY EFFORTS, SOCIAL MEDIA CAMPAIGNS, AND OTHER EFFORTS. THESE COMBINED EFFORTS LEVERAGE CONSUMER DEMAND TO PUSH THE MARKETPLACE TO PROVIDE SAFE, RELIABLE, AND HIGH-PERFORMING PRODUCTS. CONSUMER REPORTS' LONGSTANDING COMMITMENT TO EDUCATING CONSUMERS AND ADVOCATING FOR LAWS, POLICIES AND PRACTICES THAT BENEFIT CONSUMERS IS EXEMPLIFIED BY OUR FY19 (JUNE 1, 2018 THROUGH MAY 31, 2019) ACCOMPLISHMENTS, SOME OF WHICH INCLUDE: PRODUCT SAFETY CR INVESTIGATION LEADS TO RECALL OF MILLIONS OF INFANT INCLINED SLEEPERS - A CONSUMER REPORTS INVESTIGATION INTO THE SAFETY OF INFANT INCLINED SLEEPERS FOUND THAT THEY WERE TIED TO DOZENS OF INFANT DEATHS. TODAY THE OFFICIAL COUNT STANDS AT 73 DEATHS, ACCORDING TO THE CONSUMER PRODUCT SAFETY COMMISSION. CR'S INVESTIGATION PROMPTED A RECALL OF MORE THAN 5 MILLION PRODUCTS, INCLUDING FISHER-PRICE ROCK 'N PLAY SLEEPERS AND THE KIDS II ROCKING SLEEPERS. CR ALERTED CONSUMERS TO THE DANGERS ASSOCIATED WITH THE INCLINED SLEEP PRODUCTS, AND URGED ANYONE WITH A PRODUCT OR ACCESSORY TO STOP USING IT IMMEDIATELY. INFANT INCLINED SLEEPERS ARE DESIGNED TO HAVE BABIES SLEEP AT AN INCLINE BETWEEN 10 DEGREES AND 30 DEGREES. THE AMERICAN ACADEMY OF PEDIATRICS SAYS ALL SUCH PRODUCTS INCREASE THE LIKELIHOOD OF AIRWAY COMPRESSION AND SUFFOCATION. MEMBERS OF CONGRESS, SAFETY ADVOCATES, DOCTORS AND OTHER STAKEHOLDERS CREDITED CR FOR ITS WORK TO GET THESE PRODUCTS REMOVED FROM THE MARKETPLACE. CR WORKS TO RAISE THE STANDARDS FOR FURNITURE SAFETY AND PREVENT TIP-OVER DEATHS - THE CONSUMER PRODUCT SAFETY COMMISSION SAYS ONE CHILD IS KILLED EVERY TWO WEEKS WHEN A PIECE OF FURNITURE, TV, OR APPLIANCE TIPS OVER ONTO THEM. CR HAS FOUND THAT DRESSER TIP-OVERS ARE PARTICULARLY DEADLY; THEY ARE ASSOCIATED WITH AT LEAST 206 DEATHS SINCE 2000, AND MOST OF THE VICTIMS WERE CHILDREN UNDER 6. CONSUMER REPORTS' TESTING OF DRESSERS FOUND IT IS FEASIBLE FOR MANUFACTURERS TO MAKE SAFER, MORE STABLE DRESSERS ACROSS A RANGE OF PRICE POINTS. CR ADVISES PEOPLE TO SECURE DRESSERS TO THE WALLS TO AVOID TIP-OVERS, BUT POINTS OUT THAT IT IS NOT ALWAYS POSSIBLE FOR THOSE WHO RENT, OR WHO ARE NOT HANDY WITH TOOLS. CR SAYS THE FURNITURE INDUSTRY HAS A RESPONSIBILITY TO MAKE SAFER AND MORE STABLE PRODUCTS, AND THAT SAFETY SHOULD NOT DEPEND ON A PERSON'S SKILL AT ANCHORING A DRESSER TO THE WALL. IN FY19 CR WORKED WITH NEW YORK STATE LEGISLATORS IN ALBANY TO PASS "HARPER'S LAW," NAMED FOR 3-YEAR-OLD HARPER FRIED, WHO DIED FROM A TIP-OVER INCIDENT. THE BILL REQUIRES NEW YORK RETAILERS TO SELL ONLY DRESSERS AND OTHER CLOTHING STORAGE UNITS THAT MEET MINIMUM STABILITY STANDARDS, IF SUCH STANDARDS EXIST FOR THE TYPE OF FURNITURE BEING SOLD. FOR OTHER CLOTHING STORAGE UNITS, RETAILERS NEED TO ENSURE THE PRODUCTS COME WITH WALL-ANCHORING KITS. THE NY GOVERNOR SIGNED THE BILL IN FY20. CR IS ALSO WORKING ON FURNITURE SAFETY STANDARDS AT THE NATIONAL LEVEL. IN FY19 A U.S. HOUSE COMMITTEE PASSED THE STURDY ACT, A CR-BACKED BILL TO REQUIRE SAFETY STANDARDS FOR DRESSERS AND OTHER CLOTHING STORAGE UNITS TO REDUCE THE RISKS OF TIP-OVERS. THE FULL HOUSE PASSED THE BILL IN FY20, AND CR IS URGING THE SENATE TO TAKE UP THE MEASURE. SELF-DRIVING CARS LEGISLATION STALLS IN CONGRESS - CONSUMER REPORTS SAYS SELF-DRIVING CARS HAVE GREAT POTENTIAL TO DRAMATICALLY REDUCE THE NUMBER OF DEATHS ON THE ROAD, AS WELL AS IMPROVE MOBILITY FOR PEOPLE WHO CANNOT DRIVE TRADITIONAL VEHICLES. HOWEVER, SELF-DRIVING CARS WILL ONLY SUCCEED IF PEOPLE ARE CONFIDENT THAT THESE VEHICLES ARE SAFE, WITH MEANINGFUL STANDARDS TO HOLD MANUFACTURERS ACCOUNTABLE. AUTOMAKERS AND OTHER COMPANIES HAVE URGED CONGRESS TO PASS A BILL CALLED THE AV START ACT. THIS BILL WOULD SET POLICIES FOR THE DEVELOPMENT AND SALE OF SELF-DRIVING CARS, AND ACCELERATE THE DEPLOYMENT OF THESE CARS ON U.S. ROADS. CR SAYS THE AV START ACT IS DEEPLY FLAWED AND INCOMPLETE, BECAUSE IT DOES NOT PROVIDE THE NECESSARY STANDARDS TO ENSURE SELF-DRIVING CARS ARE DEMONSTRATED TO BE SAFE. CR URGED LAWMAKERS TO OVERHAUL THE BILL, OR REJECT IT. IN DECEMBER 2018 SENATORS WHO SUPPORT THE AV START ACT TRIED TO ATTACH IT TO GOVERNMENT SPENDING LEGISLATION AND PASS IT JUST BEFORE CONGRESS ADJOURNED. BUT SENATORS WHO OPPOSE THE AV START ACT PREVAILED, AND THE BILL FAILED TO ADVANCE. WHILE CR WAS PLEASED THAT THE BILL DID NOT BECOME LAW, THE BILL'S SUPPORTERS CONTINUE TO SEEK WAYS TO ADVANCE IT IN FY20, AND CR WILL CONTINUE TO SPEAK OUT FOR CONSUMER SAFETY. CR FINDS HEAVY METALS IN BABY FOOD, ADVISES PARENTS ON ALTERNATIVES - IN AUGUST 2018 CONSUMER REPORTS PUBLISHED TESTS THAT REVEALED TROUBLING LEVELS OF HEAVY METALS, SUCH AS ARSENIC, LEAD, AND CADMIUM, IN MANY POPULAR BABY AND TODDLER FOODS. OVER TIME, EXPOSURE TO HEAVY METALS CAN HARM THE HEALTH OF CHILDREN AND ADULTS. ONE OF THE BIGGEST CONCERNS IS COGNITIVE DEVELOPMENT IN VERY YOUNG CHILDREN. CR CALLED ON THE FOOD AND DRUG ADMINISTRATION TO SET LIMITS FOR HEAVY METALS IN FOOD, ADVISED COMPANIES ON WAYS TO ADDRESS THE PROBLEM, AND RECOMMENDED WAYS FOR PARENTS AND CAREGIVERS TO LIMIT CHILDREN'S EXPOSURE. MCDONALD'S ANNOUNCES PLANS TO REDUCE ANTIBIOTIC USE IN BEEF - IN DECEMBER 2018 MCDONALD'S ANNOUNCED PLANS TO REDUCE THE USE OF ANTIBIOTICS IN ITS GLOBAL BEEF SUPPLY CHAIN. THE GOAL IS TO HELP COMBAT THE GROWING PUBLIC HEALTH PROBLEM OF ANTIBIOTIC RESISTANCE, WHICH UNDERMINES THE ABILITY OF THESE LIFESAVING DRUGS TO FIGHT DISEASE IN HUMANS. INFECTIONS FROM ANTIBIOTIC-RESISTANT BACTERIA AFFECT AT LEAST 2 MILLION PEOPLE AND CAUSE AT LEAST 23,000 DEATHS A YEAR, ACCORDING TO THE CENTERS FOR DISEASE CONTROL AND PREVENTION. THE NEW POLICY CAME AFTER MCDONALD'S, ALONG WITH 21 OTHER FAST-FOOD BURGER CHAINS, RECEIVED A FAILING GRADE IN OCTOBER 2018 FROM CONSUMER REPORTS AND OTHER GROUPS FOR ITS APPROACH TOWARD ANTIBIOTIC USE IN THE BEEF IT SERVES. THESE GRADES WERE PART OF THE ANNUAL "CHAIN REACTION" REPORT ON THE ANTIBIOTICS POLICIES OF THE NATION'S BIGGEST RESTAURANT CHAINS. CR WILL BE WATCHING CAREFULLY AS MCDONALD'S DEVELOPS TARGETS FOR REDUCTION IN THE COMING YEAR. DIGITAL PRIVACY AND DATA SECURITY CALIFORNIA GOVERNOR SIGNS PRIVACY LAW - IN JUNE 2018 THE CALIFORNIA GOVERNOR SIGNED A LAW TO MANDATE NEW PRIVACY PROTECTIONS FOR STATE RESIDENTS, INCLUDING THE RIGHT TO OPT OUT OF DATA COLLECTION AND DEMAND THAT COMPANIES DELETE DATA THAT HAS ALREADY BEEN COLLECTED. CONSUMER REPORTS' ADVOCATES WORKED WITH STATE LEGISLATORS, PRIVACY GROUPS, LOCAL CONSUMERS, AND OTHERS TO SHAPE AND IMPROVE THE LAW. WHEN SOME COMPANIES LOBBIED TO WEAKEN THE LAW BEFORE IT TAKES EFFECT IN 2020, CR TESTIFIED BEFORE THE LEGISLATURE IN FAVOR OF PRESERVING THE PROTECTIONS. LEGISLATORS AGREED WITH CR'S POSITION AND REJECTED THE INDUSTRY ATTEMPTS TO WATER DOWN THE LAW. CR EXPOSES FACEBOOK PRIVACY PROBLEM - IN MAY 2019 CONSUMER REPORTS PUBLISHED AN INVESTIGATION INTO FACEBOOK'S PRIVACY SETTINGS. CR FOUND THAT SOME FACEBOOK USERS DID NOT HAVE ACCESS TO AN IMPORTANT SETTING TO CONTROL WHETHER FACEBOOK COULD COLLECT FACIAL RECOGNITION DATA. THE SETTING WAS MISSING FOR SOME USERS, DESPITE THE FACT FACEBOOK HAD ANNOUNCED IT AND STARTED ROLLING IT OUT NEARLY 18 MONTHS EARLIER. CR REPORTED THE PROBLEM TO FACEBOOK AND FILED A COMPLAINT WITH THE FEDERAL TRADE COMMISSION, WHICH WAS ALREADY INVESTIGATING FACEBOOK FOR PRIVACY LAPSES. WHEN THE FTC ANNOUNCED A $5 BILLION SETTLEMENT WITH FACEBOOK IN JULY 2019, THE AGENCY CITED CR'S COMPLAINT AS ONE OF THE EXAMPLES OF THE COMPANY'S FAILURE TO PROTECT USERS' PRIVACY. AFTER THE INVESTIGATION WAS PUBLISHED AND THE SETTLEMENT WAS ANNOUNCED, FACEBOOK SAID IT WAS ROLLING OUT THE SETTING TO ALL USERS. FINANCIAL SECURITY AND TRANSPARENCY CR LAUNCHES "WHAT THE FEE?!" CAMPAIGN; ADVANCES BILLS IN CONGRESS TO CURB HIDDEN FEES - HIDDEN FEES COST CONSUMERS BILLIONS OF DOLLARS A YEAR. A RECENT NATIONALLY REPRESENTATIVE CR SURVEY FOUND 85 PERCENT OF RESPONDENTS HAD BEEN HIT WITH AN UNEXPECTED OR HIDDEN FEE IN THE PAST TWO YEARS. IN JUNE 2018 CR LAUNCHED THE "WHAT THE FEE?!" CAMPAIGN TO SHINE A LIGHT ON THE PROBLEM, URGE COMPANIES TO BE MORE TRANSPARENT AND HONEST ABOUT FEES, EDUCATE CONSUMERS ON WAYS TO SPOT AND AVOID FEES, AND ADVOCATE FOR REFORMS. THOUSANDS OF CONSUMERS HAVE COME TO OUR WEBSITE WHATTHEFEE.COM TO SHARE THEIR STORIES AND GET FREE TIPS FOR FIGHTING FEES. A CR COVER STORY PUBLISHED IN MAY 2019 TAKES AN IN-DEPTH LOOK AT CONSUMER FRUSTRATIONS, ADVICE, AND THE MOST COMMON SOURCES OF HIDDEN FEES. CONGRESS IS NOW CONSIDERING TWO BILLS CHAMPIONED BY CR: A BILL TO REQUIRE CABLE, PHONE AND INTERNET COMPANIES TO INCLUDE ALL FEES IN THE ADVERTISED PRICE, AND A BILL THAT PUTS SIMILAR REQUIREMENTS ON HOTELS. CR IS ALSO CALLING ON THE FTC TO INVESTIGATE AND STOP HOTELS THAT CHARGE HIDDEN RESORT FEES, WHILE WORKING WITH OFFICIALS IN MULTIPLE STATES THAT ARE TAKING LEGAL ACTION AGAINST HOTEL RESORT FEES. TECH/TELECOMMUNICATIONS CR HELPS ADVANCE BIPARTISAN BILLS IN CONGRESS TO CRACK DOWN ON ROBOCALLS - IN MARCH 2019 CONSUMER REPORTS PUBLISHED THE COVER STORY "MAD ABOUT ROBOCALLS?" ABOUT THE GROWING PROBLEM OF UNWANTED ROBOCALLS THAT DISRUPT PEOPLE'S DAILY LIVES. TOO OFTEN, THESE ROBOCALLS ARE SCAM CALLS TRYING TO TRICK PEOPLE INTO SHARING VALUABLE PERSONAL INFORMATION OR DEFRAUD THEM OUT OF THEIR MONEY. THE CR STORY INCLUDES TIPS FOR CONSUMERS TO AVOID THESE PREDATORY CALLS, PLUS RECOMMENDATIONS FOR ACTIONS BY INDUSTRY AND GOVERNMENT. CR ADVOCATES WENT TO THE U.S. CAPITOL IN APRIL 2019 TO HOST A ROUNDTABLE DISCUSSION ON ROBOCALLS WITH LAWMAKERS, BUSINESSES, AND OUTRAGED CONSUMERS. AFTER YEARS OF ADVOCACY BY CR AND OTHER GROUPS, THE U.S. HOUSE AND SENATE OVERWHELMINGLY APPROVED SEPARATE BILLS TO CURB ROBOCALLS, INCLUDING TOUGHER PENALTIES AND REQUIREMENTS FOR PHONE COMPANIES TO PROVIDE FREE TOOLS TO SPOT AND BLOCK CALLS. CR IS NOW WORKING WITH MEMBERS OF CONGRESS WHO ARE DRAFTING A FINAL VERSION OF THE BILL. CR ADVOCATES FOR NET NEUTRALITY - CONSUMER REPORTS IS A LONGTIME SUPPORTER OF NET NEUTRALITY, THE PRINCIPLE THAT INTERNET SERVICE PROVIDERS SHOULD ENABLE ACCESS TO ALL ONLINE CONTENT AND APPLICATIONS, AND WITHOUT FAVORING OR BLOCKING PARTICULAR WEBSITES OR PRODUCTS. CR WENT TO SACRAMENTO TO ADVOCATE FOR A CALIFORNIA STATE LAW TO PROVIDE NET NEUTRALITY PROTECTIONS, FOLLOWING THE FCC'S REPEAL OF NATIONAL RULES. THE CALIFORNIA GOVERNOR SIGNED THE LAW, BUT IT WAS IMMEDIATELY CHALLENGED BY THE U.S. JUSTICE DEPARTMENT. MEANWHILE, CR AND OTHER GROUPS HELPED ADVANCE A RESOLUTION IN CONGRESS TO REVERSE THE FCC'S NET NEUTRALITY REPEAL. THE U.S HOUSE APPROVED THE RESOLUTION, BUT SENATE LEADERS HAVE YET TO BRING IT UP FOR A VOTE. CR SAYS T-MOBILE-SPRINT MERGER COULD HARM CONSUMERS - CONSUMER REPORTS HAS URGED STATE AND FEDERAL OFFICIALS TO OPPOSE THE MERGER OF T-MOBILE AND SPRINT, TWO OF THE NATION'S LARGEST WIRELESS COMPANIES. CR SAYS THE DEAL COULD LEAD TO HIGHER PRICES, FEWER CONSUMER CHOICES, AND LESS COMPETITION IN THE WIRELESS MARKET. WHILE FEDERAL REGULATORS HAVE COME OUT IN SUPPORT OF THE PROPOSED MERGER, SEVERAL STATE ATTORNEYS GENERAL HAVE MOUNTED A LEGAL CHALLENGE. CONSUMER REPORTS STRONGLY SUPPORTS THIS LEGAL CHALLENGE. ENERGY CR FINDS FEDERAL ROLLBACK OF AUTO FUEL ECONOMY STANDARDS WOULD INCREASE CONSUMER COSTS - THE EPA AND DEPARTMENT OF TRANSPORTATION ARE MOVING FORWARD ON PLANS TO ROLL BACK THE FEDERAL STANDARDS FOR AUTOMOBILE FUEL ECONOMY AND EMISSIONS. CONSUMER REPORTS UNVEILED A SERIES OF STUDIES ABOUT HOW THIS MOVE WOULD AFFECT CONSUMERS. CR FOUND THAT 73 PERCENT OF AMERICANS AGREE THAT THE FEDERAL GOVERNMENT SHOULD BE SETTING HIGHER STANDARDS FOR VEHICLE EFFICIENCY. CR ANALYSIS SHOWED THAT THE CURRENT STANDARDS HELP CONSUMERS SAVE MONEY, BECAUSE IMPROVED MILEAGE IN NEW CARS MEANS FEWER TRIPS TO THE GAS PUMP, AND LOWER EMISSIONS HELP IMPROVE PUBLIC HEALTH. BY CONTRAST, THE FEDERAL PLANS TO ROLL BACK THE STANDARDS WOULD COST CONSUMERS THOUSANDS OF DOLLARS PER VEHICLE ON AVERAGE. POLICYMAKERS, NEWS MEDIA AND OTHERS HAVE CITED CR'S FINDINGS IN THE DEBATE OVER THE STANDARDS. HEALTHCARE CALIFORNIA APPROVES CR-ENDORSED LAW TO REQUIRE DOCTORS ON PROBATION TO NOTIFY PATIENTS - IN SEPTEMBER 2018 THE CALIFORNIA GOVERNOR SIGNED A LANDMARK LAW TO REQUIRE DOCTORS ON PROBATION FOR CERTAIN SERIOUS OFFENSES TO NOTIFY THEIR PATIENTS. CONSUMER REPORTS FIRST HELPED BRING PUBLIC ATTENTION TO THIS ISSUE WHEN IT PETITIONED THE MEDICAL BOARD OF CALIFORNIA TO ADOPT A PATIENT NOTIFICATION REQUIREMENT IN 2015. WHEN THE BOARD DECLINED THE PETITION, CR WORKED WITH STATE LEGISLATORS TO ADVANCE A BILL. A 2016 CR NATIONAL SURVEY FOUND 82 PERCENT OF AMERICAN CONSUMERS FAVORED THE IDEA OF DOCTORS ON PROBATION HAVING TO TELL TO TELL THEIR PATIENTS, AND WHY. CR CITED DATA IN FY19 THAT SHOWED NEARLY 500 CALIFORNIA DOCTORS WERE ON PROBATION BUT ALLOWED TO CONTINUE PRACTICING. WITH THE PASSAGE OF THIS LAW, CALIFORNIA IS THE FIRST STATE IN THE NATION TO REQUIRE PATIENT NOTIFICATION. MEMBERS, STOCKHOLDERS FORM 990, PART VI, LINE 6 AND 7A CONSUMER REPORTS IS A NEW YORK STATE NOT-FOR-PROFIT MEMBERSHIP CORPORATION. THE MEMBERS FOR NEW YORK NOT-FOR-PROFIT LAW PURPOSES ARE ANY INDIVIDUAL WITH A PAID MEMBERSHIP TO THE CONSUMER REPORTS MEMBERSHIP PROGRAM. MEMBERS CAN ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING OF MEMBERS; ADOPT, AMEND OR REPEAL THE BY-LAWS OF THE CORPORATION; CALL A SPECIAL MEETING OF THE MEMBERS UNDER CERTAIN CIRCUMSTANCES; AND EXERCISE SUCH OTHER POWERS AS ARE PROVIDED BY LAW. FORM 990 REVIEW PROCESS FORM 990, PART VI, LINE 11 THE 990 IS PREPARED UTILIZING THE ASSISTANCE OF AN INDEPENDENT ACCOUNTING FIRM, KPMG. THE RELATED SERVICES FROM KPMG ARE APPROVED BY THE AUDIT COMMITTEE AS PART OF THE AUDIT APPROVAL PROCESS. AFTER THE 990 IS PREPARED BY CR FINANCE DEPARTMENT WITH COORDINATION WITH KPMG, IT IS REVIEWED BY THE CONTROLLER AND CFO BEFORE IT IS REVIEWED AND APPROVED BY THE AUDIT COMMITTEE. A COPY OF THE 990 IS THEN PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO ITS FILING. CONFLICT OF INTEREST COMPLIANCE PROCESS FORM 990, PART VI, LINE 12C CONSUMER REPORTS' BOARD OF DIRECTORS AND STAFF MEMBERS ARE REQUIRED TO FILL OUT AND SIGN A DISCLOSURE OF INTEREST STATEMENT AND ATTESTATION OF COMPLIANCE EACH YEAR. BOARD MEMBERS' FORMS ARE REVIEWED BY A COMMITTEE OF THE BOARD; STAFF MEMBERS' FORMS ARE REVIEWED BY AN OUTSIDE INDEPENDENT REVIEWER. ANY CONFLICTS WILL BE ADDRESSED WITH THE APPLICABLE BOARD OR STAFF MEMBER, WITH UNRESOLVED CONFLICTS ADDRESSED BY THE APPROPRIATE CONFLICT OF INTEREST COMMITTEE. REMEDIES FOR CONFLICTS OF INTEREST INCLUDE RECUSAL FROM PARTICIPATION IN THE MATTER GIVING RISE TO THE CONFLICT, DISPOSING OF AN INVESTMENT, TERMINATION OF EMPLOYMENT OR RESIGNATION. PROCESS FOR DETERMINING EXECUTIVE COMPENSATION FORM 990, PART VI, LINES 15A AND 15B THE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE COMPENSATION PROVIDED TO CR'S PRESIDENT AND SENIOR EXECUTIVE STAFF TO ENSURE THAT THEY ARE CONSISTENT WITH CR'S MISSION, ARE DESIGNED TO ATTRACT AND RETAIN THE HIGH LEVELS OF LEADERSHIP TALENT NEEDED TO ACHIEVE CR'S OPERATING PLANS, AND ARE COMPLIANT WITH LAW. TO THAT END, THE GOVERNANCE COMMITTEE (1) RECOMMENDS TO THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS COMPENSATION PLANS AND PAY LEVELS FOR THE PRESIDENT, TAKING INTO ACCOUNT PEER GROUP PRACTICES AND ANY SPECIAL CONSIDERATIONS, AS WELL AS EMPLOYMENT AGREEMENTS; (2) REVIEWS THE COMPENSATION OF THE PRESIDENT AND SENIOR EXECUTIVE STAFF TO ENSURE COMPLIANCE WITH THE IRS INTERMEDIATE SANCTION REQUIREMENTS; AND (3) REVIEWS AND APPROVES (A) FOR EXECUTIVES REPORTING DIRECTLY TO THE PRESIDENT, ANY PROPOSED COMPENSATION INCREASE FOR THE PROPOSED COMPENSATION FOR ANY NEW HIRE AND (B) FOR EXECUTIVES NOT REPORTING DIRECTLY TO THE PRESIDENT, (I) ANY PROPOSED COMPENSATION INCREASE THAT EXCEEDS THE ANNUAL SALARY INCREASE GUIDELINES ESTABLISHED BY HUMAN RESOURCES AND (II) THE PROPOSED COMPENSATION FOR ANY NEW EXECUTIVE HIRE THAT EXCEEDS THE MARKET MEDIAN AS REPORTED IN EXECUTIVE COMPENSATION STUDIES CONDUCTED BY A THIRD PARTY EXECUTIVE COMPENSATION CONSULTING FIRM. THE EXECUTIVE COMMITTEE'S RECOMMENDATION ON THE PRESIDENT'S COMPENSATION PLANS AND PAY LEVELS IS VOTED ON BY THE FULL BOARD OF DIRECTORS. DELIBERATIONS AND DECISIONS REGARDING THE FOREGOING COMPENSATION ARRANGEMENTS ARE CONTEMPORANEOUSLY RECORDED IN THE ORGANIZATION'S MINUTES. THE FOREGOING PROCESS FOR ESTABLISHING COMPENSATION FOR THE INDICATED PERSONS WAS LAST UNDERTAKEN IN APRIL AND MAY OF 2019. PUBLIC AVAILABILITY OF FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS FORM 990, PART VI, LINE 19 CONSUMER REPORTS' ANNUAL FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC ON ITS WEBSITE, WWW.CONSUMERREPORTS.ORG. OUR GOVERNING DOCUMENTS, FORM 1023, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. NET ASSET CLASSIFICATION FORM 990, PART X, LINES 27-29 THE FASB ISSUED ACCOUNTING STANDARDS UPDATE (ASU) 2016-14 NOT-FOR-PROFIT ENTITIES (TOPIC 958), PRESENTATION OF FINANCIAL STATEMENTS OF NOT-FOR PROFIT ENTITIES, WHICH AMONG OTHER THINGS, CHANGES HOW NOT-FOR-PROFIT ENTITIES REPORT NET ASSET CLASSES. THE SIGNIFICANT REQUIREMENTS OF ASU 2016-14 INCLUDE REDUCTION IN THE NUMBER OF NET ASSET CLASSES FROM THREE TO TWO: WITH DONOR RESTRICTIONS (FORMERLY REPORTED AS TEMPORARILY RESTRICTED NET ASSETS) AND WITHOUT DONOR RESTRICTIONS (FORMERLY REPORTED AS UNRESTRICTED NET ASSETS). THE 2018 FORM 990, PART X WAS NOT UPDATED TO REFLECT THE CHANGE IN NET ASSET CLASS TERMINOLOGY; THEREFORE, CONSUMER REPORTS HAS REPORTED NET ASSETS WITHOUT DONOR RESTRICTION AS UNRESTRICTED NET ASSETS AND NET ASSETS WITH DONOR RESTRICTIONS AS TEMPORARILY RESTRICTED NET ASSETS. OTHER CHANGES IN NET ASSETS OR FUND BALANCES PART XI, LINE 9 UNREALIZED LOSS INTEREST RATE SWAP $ (913,000) PENSION RELATED CHANGES $ (2,299,000) CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT $ 132,888 ROUNDING $ (1,494) ----------------- TOTAL OTHER CHANGES IN NET ASSETS OR FUND BALANCES $ (3,080,606) CONSUMERS UNION ACTION FUND 101 TRUMAN AVENUE YONKERS NY 10703 204780406 LOBBYING DE 501(C) (4) N/A CR true CHARITABLE REMAINDER TRUST (4) Annuity NY NA Trust true false false true false false false false false false false true false true true false false false true CONSUMER UNION ACTION FUND C 137138 FMV