2020-11-11T12:50:36-06:00 2019-12-31 KPMG LLP 8350 BROAD STREET SUITE 900 MCLEAN VA 22102 990 2019-01-01 237268394 INTERNATIONAL CITY MANAGEMENT ASSOCIATION RETIREMENT CORPORATION % RICHARD WHITTY INTE 2029624600 777 N CAPITOL ST NE Suite 600-TA WASHINGTON DC 200024240 GEORGE SUZICH ASSISTANT TREASURER 2029624600 2020-11-10 true MARGARET A BRADSHAW P00501222 7032868000 2020-11-10 199.206.0.5 73017020203165000002 2020-11-11 P AC54748FFC50D967AA2BBEAEB8F4489B300F6EE8 2528B0E7EE2F9A48FABAB2F0A6764916086A196D 2019 2021-01-29 14:40:06Z LYNNE FORD 777 N CAPITOL ST NE WASHINGTON DC 200024240 481586326 false X WWW.ICMARC.ORG X 1972 DE TO LESSEN THE BURDENS OF STATE AND LOCAL GOVERNMENTS AND THEIR AGENCIES... (CON'T ON SCHEDULE O, GENERAL STATEMENT 1). 10 8 995 0 17883255 -21857597 0 0 224446174 223864427 15003614 19472301 188973 188693 239638761 243525421 1267575 1203093 0 0 152795842 157472921 0 0 0 93648704 95122095 247712121 253798109 -8073360 -10272688 497452269 530010241 75931932 78485803 421520337 451524438 THE CORPORATION SERVES TO LESSEN THE BURDENS OF STATE AND LOCAL GOVERNMENTS AND THEIR AGENCIES AND INSTRUMENTALITIES BY ADMINISTERING QUALIFIED AND DEFERRED COMPENSATION RETIREMENT PLANS, THEREBY HELPING PUBLIC SECTOR EMPLOYEES BUILD RETIREMENT SECURITY. false false 216907167 1203093 223864427 THE CORPORATION PROVIDED PLAN ADMINISTRATION, ASSET MANAGEMENT, AND RETIREMENT EDUCATION AND PLANNING SERVICES TO 4,744 STATE AND LOCAL GOVERNMENT EMPLOYERS OFFERING 9,882 RETIREMENT PLANS WITH 1,483,556 PUBLIC SECTOR EMPLOYEE RETIREMENT ACCOUNTS. 216907167 true false false true false false false false false false true true false false true true false true false false true false false false false false false true false true false false false false false false false false false false false false true true false false false true 187 0 true 995 true true true false false false false false false false false false true false X 10 8 true false false false false true true true true false false true true true true true true true true false CA DE GA IN NH NM NC OK X RICHARD WHITTY 2029624600 777 N CAPITOL ST NE STE 600-TAX WASHINGTON DC 200024240 X ROBERT SCHULTZE PRES./CEO/DIR. UNTIL 11/4/19 40.0 0.0 X X 3025980 0 99371 WAYNE WICKER SENIOR VICE PRESIDENT 40.0 0.0 X 2047750 0 66142 KAREN CHONG-WULFF MANAGING VICE PRESIDENT 40.0 0.0 X 1238810 0 54618 MICHAEL GUARASCI TREASURER 40.0 0.0 X 1007832 0 111595 DAVID BRAVERMAN MANAGING VICE PRESIDENT 40.0 0.0 X 975951 0 56521 ELIZABETH GLISTA CHIEF RISK OFFICER (FMR TREAS) 40.0 0.0 X 922391 0 94466 FLORA HEDRICK MANAGING VICE PRESIDENT 40.0 0.0 X 827751 0 31054 KARLA GILL SENIOR VICE PRESIDENT 40.0 0.0 X 713230 0 107950 ANGELA MONTEZ SECRETARY 40.0 0.0 X 732723 0 75630 CATHERINE LEGGETT SENIOR VICE PRESIDENT 40.0 0.0 X 623105 0 47958 DAVID TANGUAY CHIEF CLIENT SERVICES OFFICER 40.0 0.0 X 580882 0 83629 LYNNE FORD PRES./CEO/DIR. AS OF 11/4/19 40.0 0.0 X X 100409 0 543663 MARC OTT DIRECTOR 2.0 37.5 X 1093 523621 59001 THOMAS MCANDREWS ASSISTANT SECRETARY 40.0 0.0 X 513719 0 52944 ROSS GRAHAM MANAGING VICE PRESIDENT 40.0 0.0 X 486711 0 47446 GEORGE SUZICH ASSISTANT TREASURER 40.0 0.0 X 470482 0 43776 RICHARD WHITTY ASSISTANT TREASURER 40.0 0.0 X 343967 0 65634 ERICA MCFARQUHAR ASSISTANT SECRETARY 40.0 0.0 X 355484 0 45043 PATRICIA VAUSE ASSISTANT TREASURER 40.0 0.0 X 240555 0 30402 BARBARA STOTLER ASSISTANT TREASURER 40.0 0.0 X 191553 0 58269 NATACHA LAFLEUR ASSISTANT TREASURER 40.0 0.0 X 214746 0 34550 DEANNA SANTANA DIRECTOR 2.0 0.0 X 13919 0 0 TANISHA BRILEY DIRECTOR 2.0 0.0 X 9752 0 0 ROBERT JONES DIRECTOR 2.0 0.0 X 4099 0 0 LEE FELDMAN DIRECTOR 2.0 0.0 X 2494 0 0 TINA BYLES WILLIAMS DIRECTOR 2.0 0.0 X 1642 0 0 Brian Clarke DIRECTOR 2.0 0.0 X 981 0 0 PEGGY MERRISS DIRECTOR 2.0 0.0 X 966 0 0 CYNTHIA STEER DIRECTOR 2.0 0.0 X 0 0 0 15645388 523621 1809662 457 true true false SEE SCHEDULE O GENERAL STATEMENT 9 9668782 42 0 RETIREMENT PLANS/TRUST 524292 206169865 206169865 RETIREMENT ACCOUNTS 524292 15951405 15951405 INVESTMENT ACCOUNTS 524292 1743157 1743157 223864427 11905630 11905630 0 0 0 0 0 245627576 238060905 7566671 7566671 7566671 0 0 0 0 0 0 0 0 0 ACCOUNTING SERVICES 525990 185196 185196 ALL OTHER REVENUE 524292 3497 3497 188693 243525421 206169865 17883255 19472301 1203093 1203093 0 0 0 11705832 7456516 4249316 1448142 1242627 205515 109969874 92580651 17389223 10391805 8681172 1710633 16366065 13279299 3086766 7591203 6341844 1249359 0 2166608 1677730 488878 1118966 995990 122976 0 0 104342 104342 0 1588905 1588905 3740766 3329656 411110 17014572 14867116 2147456 2479616 2479616 7760170 6850955 909215 4929624 4656342 273282 0 1615650 1283713 331937 74658 74658 0 6832860 6081929 750931 1627369 871782 755587 DATA PROCESSING 16867925 16867925 PLAN PRINTING/PUBLISHING 4235007 4235007 PLAN MAILING/POSTAGE 4132418 4132418 TEMPORARY SERVICES 2672067 2378407 293660 16160572 13645474 2515098 253798109 216907167 36890942 0 4605298 10172985 19236954 22657827 0 0 34295172 32245615 0 0 0 0 0 0 0 0 7335369 5572249 104203877 87153073 17088337 17050804 288196494 314573276 120369532 117274927 0 0 0 0 6325113 10462558 497452269 530010241 65860727 64906187 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10071205 13579616 75931932 78485803 X 421520337 451524438 0 0 421520337 451524438 497452269 530010241 X -10272688 40720494 -443705 X false true X true false X 0 0 0 0 0 0 197831535 191055855 202936916 207011363 206169865 1005005534 0 0 0 197831535 191055855 202936916 207011363 206169865 1005005534 0 5845390 5096845 6713182 8809579 10317235 36782231 5845390 5096845 6713182 8809579 10317235 36782231 968223303 11919630 13523691 12793397 12511783 11905630 62654131 0 11919630 13523691 12793397 12511783 11905630 62654131 0 0 209751165 204579546 215730313 219523146 218075495 1067659665 0.90687 0.91073 0.05868 0.05985 X false true false false true 7401 false true 189404 true 65131 false 261936 false PART II-B: DESCRIPTION OF LOBBYING ACTIVITIES Lobbying expenses were incurred to advocate at both federal and state levels for legislation and administrative rulemaking that would be beneficial to municipal retirement plan systems, and otherwise enhance the ability of state and local government employees to build retirement security. 0 13265455 8067082 5198373 0 36866530 30004224 6862306 0 54071892 49081767 4990125 17050804 VANGUARD VINIX (115,838 SH) 33619678 F VOYA MORTGAGE FUND 18155269 F CERBERUS INSTITUTIONAL PTNRS 14718633 F BLACKSTONE PROPERTY PARTNERS 10817415 F PIMCO DISCO 8845991 F INSIGHT VENTURE PARTNERS X 7104026 F ALPINVEST SECONDARIES FUND VI 5773032 F SEE PART XIII 18240883 F 117274927 0 RETIREMENT BENEFITS-NONCURRENT 4007779 OBLIGATIONS UNDER CAPITAL LEAS 404132 OTHER LIABILITIES 9167705 13579616 X PART VII, LINE 3: INVESTMENTS - OTHER SECURITIES (CONTINUED) DESCRIPTION BOOK VALUE COST OR FMV ----------- ---------- ----------- STRATEGIC PARTNERS REAL ASSETS II 4,414,911 FMV OAKTREE REAL ESTATE DEBT FD II 3,851,272 FMV STRATEGIC PARTNERS VIII 2,846,446 FMV FORTRESS CREDIT OPPORTUNITIES V 2,648,929 FMV APOLLO INVESTMENT FUND IX 1,941,703 FMV BLACKSTONE REAL ESTATE PARTNER IX 1,518,770 FMV Carlyle Realty Partners VIII 1,163,509 FMV Insight Partners XI (36,693) FMV American Securities Partners VIII (107,964) FMV ------------------------------------------------- TOTAL OTHER SECURITIES 18,240,883 PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE TO THE CORPORATION'S AUDITED FINANCIAL STATEMENTS PROVIDES THE FOLLOWING DISCLOSURE: THE FASB ASC 740, INCOME TAXES, ESTABLISHES GUIDELINES FOR RECOGNIZING, MEASURING, AND DISCLOSING TAX RETURN POSITIONS IN FINANCIAL STATEMENTS. MANAGEMENT HAS EVALUATED THE TAX POSITIONS OF ICMA-RC AND DETERMINED THAT THE APPLICATION OF ASC 740 HAD NO MATERIAL IMPACT ON ITS CONSOLIDATED FINANCIAL STATEMENTS. ACCORDINGLY, NO ADJUSTMENTS FOR UNRECOGNIZED TAX BENEFITS OR RELATED INTEREST OR PENALTIES WERE REQUIRED AS OF DECEMBER 31, 2019. IF APPLICABLE, ICMA-RC WOULD RECOGNIZE ACCRUED INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN "OTHER EXPENSES" IN THE CONSOLIDATED STATEMENTS OF REVENUE, EXPENSES AND CHANGES IN NET ASSETS. MANAGEMENT IS NOT AWARE OF ANY TAX POSITIONS FOR WHICH IT IS REASONABLY POSSIBLE THAT THE TOTAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS WOULD SIGNIFICANTLY INCREASE OR DECREASE DURING THE NEXT TWELVE MONTHS. EACH OF THE TAX YEARS IN THE FOUR-YEAR PERIOD ENDING DECEMBER 31, 2019, REMAINS SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES, ALTHOUGH CERTAIN STATE TAXING AUTHORITIES MAY LENGTHEN THIS PERIOD TO FIVE YEARS. Central America and the Caribbean 0 0 Investments 51722010 Europe (Including Iceland and Greenland) 0 0 Investments 18155269 North America 0 0 Investments 911276 Sub-Saharan Africa 0 0 Investments 200500 East Asia and the Pacific 0 0 Investments 73406 0 0 0 0 71062461 71062461 true false true true true false PART I, LINE 3: The maximum aggregate value of investment in Central America and the Caribbean was $51,783,709, with a year-end value of $51,722,010. The maximum aggregate value of investment in Europe was $19,186,780, with a year-end value of $18,155,269. The maximum aggregate value of investment in North America was $1,327,441, with a year-end value of $911,276. The maximum aggregate value of investment in Sub-Saharan Africa was $593,884, with a year-end value of $200,500. The maximum aggregate value of investment in East Asia and the Pacific was $1,275,320, with a year-end value of $73,406. The corporation has engaged JPMorgan Chase Bank to serve as a third-party custodian of the above-noted investments and did not have an interest in, or signature or other authority over, any reportable foreign financial accounts. true CENTER FOR STATE & LOCAL GOV'T EXCELLENCE INC 777 N CAPITOL ST NE WASHINGTON DC 20002 262661207 501(C)(3) 1141713 SEE PART IV ICMA-RC Public Employee Memorial Scholarship Fund 777 N CAPITOL ST NE WASHINGTON DC 20002 522281478 501(c)(3) 43880 SEE PART IV Habitat for Humanity Metro Maryland Inc 8380 Colesville Road Silver Spring MD 20910 521299516 501(c)(3) 10000 SEE PART IV American Heart Association Inc 7272 Greenville Avenue DALLAS TX 75231 135613797 501(c)(3) 7500 SEE PART IV 4 0 PART I, LINE 2: SUPPLEMENTAL INFORMATION ON GRANTS MADE BY THE CORPORATION: TO ADVANCE ITS MISSION, THE CORPORATION SUPPORTS RESEARCH INTO RETIREMENT COMPENSATION AND BENEFIT ISSUES FACING STATE AND LOCAL GOVERNMENT EMPLOYERS. IN PROVIDING SUCH SUPPORT, THE CORPORATION MADE GRANT PAYMENTS TO THE CENTER FOR STATE AND LOCAL GOVERNMENT EXCELLENCE, INC., A SECTION 501(C)(3) PUBLIC CHARITY. THE CORPORATION MONITORS THE ACTIVITIES OF THIS ORGANIZATION BY ATTENDING PRESENTATIONS AND REVIEWING PUBLICATIONS THROUGH WHICH RESEARCH FINDINGS ON STATE AND LOCAL GOVERNMENT EMPLOYER AND EMPLOYEE RETIREMENT TOPICS ARE BEING DISSEMINATED. IN ADDITION, THE CORPORATION MAINTAINS REPRESENTATION ON THE BOARD OF DIRECTORS OF THIS ORGANIZATION. PART II, LINE 1, COLUMN H: THE PURPOSE OF THE GRANT TO THE CENTER FOR STATE AND LOCAL GOVERNMENT EXCELLENCE, INC. IS TO SUPPORT PUBLIC RESEARCH INTO STATE AND LOCAL GOVERNMENT RETIREMENT COMPENSATION AND BENEFITS. PART II, LINE 2, COLUMN H: THE CORPORATION ALSO MADE GRANTS IN SUPPORT OF ICMA-RC PUBLIC EMPLOYEE MEMORIAL SCHOLARSHIP FUND, A SECTION 501(C)(3) PUBLIC CHARITY, WHICH INDEPENDENTLY AWARDS AND MAKES QUALIFYING HIGHER EDUCATION SCHOLARSHIP PAYMENTS TO DEPENDENTS OF PUBLIC SECTOR EMPLOYEES WHO DIE IN THE LINE OF DUTY. THE INDIVIDUAL RECIPIENTS ARE SELECTED BY THAT ORGANIZATION UNDER ITS OWN CHARITABLE PROGRAM GUIDELINES. PART II, LINE 3, COLUMN H: THE PURPOSE OF THE GRANT TO Habitat for Humanity Metro Maryland, Inc. IS TO SUPPORT building affordable housing for low-income residents. PART II, LINE 4, COLUMN H: THE PURPOSE OF THE GRANT TO THE American Heart Association, Inc IS TO SUPPORT building healthier lives, free of cardiovascular diseases and stroke. X X true true X X X X X X false true false false false false false true false ROBERT SCHULTZE PRES./CEO/DIR. UNTIL 11/4/19 616250 0 2250903 0 158827 0 94340 0 5031 0 3125351 0 0 0 MARC OTT DIRECTOR 1093 471421 0 23000 0 29200 0 35198 0 23803 1093 582622 0 0 ELIZABETH GLISTA CHIEF RISK OFFICER (FMR TREAS) 250195 0 240980 0 431216 0 67239 0 27227 0 1016857 0 419189 0 MICHAEL GUARASCI TREASURER 394565 0 591806 0 21461 0 84091 0 27504 0 1119427 0 0 0 GEORGE SUZICH ASSISTANT TREASURER 267525 0 199528 0 3429 0 28000 0 15776 0 514258 0 0 0 PATRICIA VAUSE ASSISTANT TREASURER 82413 0 138275 0 19867 0 24074 0 6328 0 270957 0 0 0 RICHARD WHITTY ASSISTANT TREASURER 205767 0 136619 0 1581 0 28000 0 37634 0 409601 0 0 0 BARBARA STOTLER ASSISTANT TREASURER 147172 0 43704 0 677 0 20053 0 38216 0 249822 0 0 0 ANGELA MONTEZ SECRETARY 325133 0 386456 0 21134 0 70481 0 5149 0 808353 0 0 0 THOMAS MCANDREWS ASSISTANT SECRETARY 287504 0 225490 0 725 0 16800 0 36144 0 566663 0 0 0 ERICA MCFARQUHAR ASSISTANT SECRETARY 212792 0 141308 0 1384 0 28000 0 17043 0 400527 0 0 0 DAVID TANGUAY CHIEF CLIENT SERVICES OFFICER 251344 0 308230 0 21308 0 54793 0 28836 0 664511 0 0 0 ROSS GRAHAM MANAGING VICE PRESIDENT 127794 0 358757 0 160 0 46000 0 1446 0 534157 0 0 0 WAYNE WICKER SENIOR VICE PRESIDENT 489631 0 1388018 0 170101 0 28000 0 38142 0 2113892 0 0 0 DAVID BRAVERMAN MANAGING VICE PRESIDENT 299909 0 653986 0 22056 0 28000 0 28521 0 1032472 0 0 0 KAREN CHONG-WULFF MANAGING VICE PRESIDENT 386343 0 830714 0 21753 0 28000 0 26618 0 1293428 0 0 0 KARLA GILL SENIOR VICE PRESIDENT 312301 0 381083 0 19846 0 69090 0 38860 0 821180 0 0 0 FLORA HEDRICK MANAGING VICE PRESIDENT 265201 0 505584 0 56966 0 28000 0 3054 0 858805 0 0 0 CATHERINE LEGGETT SENIOR VICE PRESIDENT 211992 0 264946 0 146167 0 28000 0 19958 0 671063 0 0 0 LYNNE FORD PRES./CEO/DIR. AS OF 11/4/19 99513 0 0 0 896 0 540582 0 3081 0 644072 0 0 0 NATACHA LAFLEUR ASSISTANT TREASURER 169103 0 45378 0 265 0 21701 0 12849 0 249296 0 0 0 SCHEDULE J, PART I, LINE 1A: FIRST-CLASS TRAVEL: THE CORPORATION'S BOARD APPROVED TRAVEL GUIDELINES PROVIDE DIRECTORS WITH THE OPTION OF FIRST-CLASS TRAVEL WHEN IT INVOLVES EXTENUATING CIRCUMSTANCES, SUCH AS LONG FLIGHTS AND LATE NIGHT ARRIVALS. WHILE ATTENDING BOARD MEETINGS IN 2019, THREE OF TEN DIRECTORS USED THIS OPTION. TRAVEL FOR COMPANIONS: IN CONSIDERATION OF PERSONAL AND FAMILY OBLIGATIONS, THE CORPORATION'S BOARD APPROVED TRAVEL GUIDELINES PROVIDE FOR ASSISTANCE IN DEFRAYING TRAVEL COSTS OF COMPANIONS OR FAMILY MEMBERS WHO MAY ACCOMPANY DIRECTORS TO BOARD MEETINGS. ALTHOUGH NOT PAID DIRECTOR FEES FOR THEIR SERVICES, DIRECTORS RECOGNIZE TAXABLE INCOME IN THE AMOUNT OF ANY SUCH TRAVEL ASSISTANCE. IN 2019, SEVEN OF TEN DIRECTORS RECEIVED PAYMENTS UNDER THIS POLICY. SCHEDULE J, PART I, LINE 4B: SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: IN 2000, THE BOARD OF DIRECTORS ADOPTED A SECTION 457(F) SUPPLEMENTAL RETIREMENT PLAN FOR SENIOR EXECUTIVES (2000 PLAN). A SECOND SUCH PLAN WAS ADOPTED BY THE BOARD OF DIRECTORS, EFFECTIVE AS OF 2010 (2010 PLAN). THE BOARD REVIEWED COMPARABILITY DATA PROVIDED BY AN INDEPENDENT COMPENSATION CONSULTANT BEFORE APPROVING THESE PLANS AS PART OF AN OVERALL PROGRAM OF REASONABLE COMPENSATION. THEREAFTER, THE BOARD HAS ALSO PERIODICALLY REVIEWED COMPARABILITY DATA THROUGH 2019 AS THE RIGHTS OF PARTICIPANTS RESPECTIVELY ACCRUED OR VESTED UNDER THESE PLANS. AFTER EACH SUCH REVIEW, THE BOARD DETERMINED THAT THE AMOUNTS ACCRUED OR PAID UNDER THE PLANS WERE REASONABLE AS PART OF EACH INDIVIDUAL PARTICIPANTS' OVERALL COMPENSATION, AND NO PLAN PARTICIPANTS TOOK PART IN THE BOARD'S DELIBERATIONS OR DECISIONS RELATING TO A PLAN IN WHICH THEY WERE PARTICIPATING. ALL ELIGIBLE AND APPROVED PLAN PARTICIPANTS LISTED IN FORM 990, PART VII, SECTION A, EARNED VESTED CREDIT TOWARD RETIREMENT BENEFITS UNDER THIS 2000 PLAN. DURING 2019, THIS GROUP INCLUDED THE FOLLOWING INDIVIDUALS: WAYNE WICKER AND CATHERINE LEGGETT. SENIOR VICE PRESIDENT WAYNE WICKER HAS MET ALL SERVICE AND AGE REQUIREMENTS AND VESTED UNDER THE 2000 PLAN, AND MAY RECEIVE FUTURE PAYMENTS BEGINNING AT RETIREMENT. THE COMPENSATION TOTAL REPORTED IN FORM 990, SCHEDULE J, PART II, COLUMN B(III) INCLUDES $147,000 REPRESENTING A VESTED CREDIT TOWARDS ANY SUCH FUTURE RETIREMENT PAYMENTS UNDER THIS PLAN. THE CORPORATION REPORTED THIS AMOUNT AS TAXABLE INCOME TO THIS PARTICIPANT IN 2019 PURSUANT TO THE REQUIREMENTS OF SECTIONS 61 AND 457(F) OF THE INTERNAL REVENUE CODE. SENIOR VICE PRESIDENT CATHERINE LEGGETT HAS MET ALL SERVICE AND AGE REQUIREMENTS AND VESTED UNDER THE 2000 PLAN, AND MAY RECEIVE FUTURE PAYMENTS BEGINNING AT RETIREMENT. THE COMPENSATION TOTAL REPORTED IN FORM 990, SCHEDULE J, PART II, COLUMN B(III) INCLUDES $124,000 REPRESENTING A VESTED CREDIT TOWARDS ANY SUCH FUTURE RETIREMENT PAYMENTS UNDER THIS PLAN. THE CORPORATION REPORTED THIS AMOUNT AS TAXABLE INCOME TO THIS PARTICIPANT IN 2019 PURSUANT TO THE REQUIREMENTS OF SECTIONS 61 AND 457(F) OF THE INTERNAL REVENUE CODE. CHIEF RISK OFFICER ELIZABETH GLISTA HAS MET ALL SERVICE AND AGE REQUIREMENTS AND VESTED UNDER THE 2010 PLAN, AND MAY RECEIVE FUTURE PAYMENTS BEGINNING AT RETIREMENT. THE COMPENSATION TOTAL REPORTED IN FORM 990, SCHEDULE J, PART II, COLUMN B(III) INCLUDES $419,000 REPRESENTING A VESTED CREDIT TOWARDS ANY SUCH FUTURE RETIREMENT PAYMENTS UNDER THIS PLAN. THE CORPORATION REPORTED THIS AMOUNT AS TAXABLE INCOME TO THIS PARTICIPANT IN 2019 PURSUANT TO THE REQUIREMENTS OF SECTIONS 61 AND 457(F) OF THE INTERNAL REVENUE CODE. THE FORMER PRESIDENT AND CEO, ROBERT SCHULTZE, HAS MET ALL SERVICE AND AGE REQUIREMENTS AND VESTED UNDER THE 2010 PLAN. THE COMPENSATION TOTAL REPORTED IN FORM 990, SCHEDULE J, PART II, COLUMN B(III) INCLUDES $121,000 REPRESENTING A VESTED CREDIT TOWARDS ANY SUCH FUTURE RETIREMENT PAYMENTS. THE CORPORATION REPORTED THIS AMOUNT AS TAXABLE INCOME TO THIS PARTICIPANT IN 2019 PURSUANT TO THE REQUIREMENTS OF SECTIONS 61 AND 457(F) OF THE INTERNAL REVENUE CODE. ALL OTHER ELIGIBLE AND APPROVED PLAN PARTICIPANTS LISTED IN FORM 990, PART VII, SECTION A, EARNED UNVESTED CREDIT TOWARD RETIREMENT BENEFITS UNDER THIS 2010 PLAN. AMOUNTS REPORTED IN FORM 990, SCHEDULE J, PART II, COLUMN C FOR THESE UNVESTED PARTICIPANTS INCLUDED AN ANNUAL CREDIT TOWARDS FUTURE RETIREMENT BENEFITS THAT MAY BECOME PAYABLE UNDER THE PLAN. DURING 2019, THIS GROUP INCLUDED THE FOLLOWING INDIVIDUALS: MICHAEL GUARASCI, ANGELA MONTEZ, DAVID TANGUAY, KARLA GILL AND LYNNE FORD. SCHEDULE J, PART I, LINE 7: NON-FIXED PAYMENTS: SHORT-TERM, FUNCTIONAL, AND LONG-TERM INCENTIVE COMPENSATION PROGRAMS ARE OFFERED FOR CERTAIN EXECUTIVES OF THE CORPORATION. THESE PLANS ARE ESTABLISHED BY THE CORPORATION'S BOARD BASED ON RECOMMENDATIONS OF THE ADMINISTRATION AND COMPENSATION COMMITTEE OF THE BOARD. THE PROGRAMS HAVE SPECIFIC GOALS AND OBJECTIVES THAT ARE APPROVED IN ADVANCE BY THE BOARD, AND IN THE BOARD'S DISCRETION, PARTICIPANTS MAY BE AWARDED COMPENSATORY AMOUNTS BASED ON PERFORMANCE IN ACCORDANCE WITH SUCH GOALS AND OBJECTIVES. THE CORPORATION'S BOARD APPROVES ALL AMOUNTS UNDER THESE PROGRAMS AND RELIES ON MARKET DATA FROM AN INDEPENDENT COMPENSATION CONSULTANT TO DETERMINE THEIR REASONABLENESS AS PART OF THE PARTICIPANTS' OVERALL COMPENSATION. ALL EXECUTIVES OF THE CORPORATION LISTED ON FORM 990, SCHEDULE J, PART II EARNED AND RECEIVED A FORM OF SUCH PAYMENTS DURING 2019. SCHEDULE J, PART II, LINE 3(I), COLUMN E: $1,016,857 REPRESENTS TOTAL COMPENSATION PAID TO ELIZABETH GLISTA IN HER CURRENT CAPACITY AS THE CHIEF RISK OFFICER OF THE CORPORATION. DURING THE YEARS 2009 THROUGH 2015, MS. GLISTA SERVED AS THE CORPORATION'S TREASURER AND CFO, AND AS A FORMER OFFICER, SUCH COMPENSATION IS ALSO SHOWN ON FORM 990, PART VII, SECTION A, LINE 6, AND INCLUDED IN THE AMOUNT ON PART IX, LINE 6. GENERAL STATEMENT 1 FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: TO LESSEN THE BURDENS OF STATE AND LOCAL GOVERNMENTS AND THEIR AGENCIES AND INSTRUMENTALITIES BY ASSISTING THEM TO ESTABLISH AND ADMINISTER QUALIFIED DEFERRED COMPENSATION AND OTHER RETIREMENT PLANS, AND BY PROVIDING THEM WITH EXTENSIVE RETIREMENT PLAN ADMINISTRATION AND ASSET MANAGEMENT SERVICES THAT INCLUDE BROAD-BASED FINANCIAL AND RETIREMENT PLANNING AND RELATED INVESTMENT EDUCATION SUPPORT. THE CORPORATION MAKES ITS SERVICES AVAILABLE TO ALL MUNICIPAL GOVERNMENT EMPLOYERS, INCLUDING MANY THAT HAVE LIMITED OR NO OTHER VIABLE RETIREMENT PLAN ADMINISTRATION OR PUBLIC TRUST INVESTMENT OPTIONS AVAILABLE TO THEM. GENERAL STATEMENT 2 FORM 990, PART VI, SECTION A, LINE 2: DURING 2019, ROBERT SCHULTZE, LYNNE FORD AND MARC OTT ALSO SERVED AS DIRECTORS ON THE BOARD OF THE CENTER FOR PUBLIC ADMINISTRATION AND SERVICE, INC., AN ORGANIZATION THAT OWNS AND MANAGES THE OFFICE BUILDING LOCATION OF THE CORPORATION'S HEADQUARTERS IN WASHINGTON, D.C. ROBERT SCHULTZE, LYNNE FORD, MARC OTT, MICHAEL GUARASCI, AND RICHARD WHITTY ALSO SERVED AS OFFICERS OF THIS ENTITY. GENERAL STATEMENT 3 FORM 990, PART VI, SECTION A, LINE 7A: CERTAIN ACTIONS OF THE CORPORATION'S BOARD OF DIRECTORS MAY BE REVIEWED OR APPROVED BY ANOTHER SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION, INTERNATIONAL CITY/COUNTY MANAGEMENT ASSOCIATION. DIRECTORS WHO HAVE BEEN SELECTED BY THE CORPORATION'S BOARD ARE ALSO SUBJECT TO APPOINTMENT BY THIS SECTION 501(C)(3) ORGANIZATION. IN ADDITION, ANY DECISION BY THE CORPORATION'S BOARD TO REMOVE A DIRECTOR OR AMEND ITS CHARTER WOULD BE SUBJECT TO CONCURRENCE OR APPROVAL BY THIS SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION. HOWEVER, THIS ORGANIZATION DOES NOT HAVE THE POWER TO REMOVE CORPORATION'S DIRECTORS AND DESIGNATE NEW DIRECTORS. GENERAL STATEMENT 4 FORM 990, PART VI, SECTION A, LINE 7B: CERTAIN GOVERNANCE DECISIONS OF THE CORPORATION'S BOARD OF DIRECTORS MAY BE REVIEWED OR APPROVED BY ANOTHER SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION. SEE THE RESPONSE TO THE FORM 990, PART VI, SECTION A, LINE 7A, ABOVE. GENERAL STATEMENT 5 FORM 990, PART VI, SECTION B, LINE 11: THE CORPORATION'S ANNUAL FORM 990 UNDERGOES A NUMBER OF INTERNAL AND EXTERNAL REVIEWS BEFORE IT IS FILED WITH THE IRS. IT IS PREPARED BY AN INDEPENDENT TAX ACCOUNTING FIRM AND REVIEWED BY OUTSIDE TAX COUNSEL. THE FORM IS ALSO EXAMINED BY SENIOR MANAGEMENT AND PROVIDED TO THE CORPORATION'S DIRECTORS BEFORE IT IS FILED. GENERAL STATEMENT 6 FORM 990, PART VI, SECTION B, LINE 12C: THE CORPORATION'S BOARD OF DIRECTORS HAS ADOPTED A WRITTEN CONFLICT OF INTEREST POLICY THAT APPLIES TO ALL OF ITS DIRECTORS. IN ADDITION, THE BOARD OF DIRECTORS HAS ADOPTED, AND THE SENIOR MANAGEMENT HAS IMPLEMENTED, A SEPARATE WRITTEN CONFLICT OF INTEREST POLICY THAT APPLIES TO OFFICERS AND ALL CLASSES OF EMPLOYEES. THE CORPORATION'S CONFLICT OF INTEREST POLICIES DEFINE "CONFLICTS OF INTERESTESTABLISH REPORTING, REVIEW, AND DISCIPLINARY PROCEDURES. THE CORPORATION MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICIES THROUGH DISCLOSURE, WHISTLEBLOWER, AND OTHER PERIODIC REPORTING PROCESSES DESIGNED TO IDENTIFY INVESTMENT OR BUSINESS TRANSACTIONS AND AFFILIATIONS THAT MAY BE SIGNIFICANT AND GIVE RISE TO CONFLICTS OF INTEREST. ALL DIRECTORS, OFFICERS, AND EMPLOYEES MUST ACKNOWLEDGE RECEIPT AND UNDERSTANDING OF THE RESPECTIVE CONFLICT OF INTEREST POLICIES EACH YEAR. IN ADDITION, DIRECTORS, OFFICERS, AND SENIOR MANAGERS (INCLUDING KEY EMPLOYEES) ARE REQUIRED TO REPORT ANY EMPLOYMENT, INVESTMENT, BUSINESS, OR FAMILY RELATIONSHIPS THAT MAY INVOLVE THE CORPORATION, ITS DIRECTORS, OFFICERS, AND EMPLOYEES, OR CERTAIN THIRD PARTIES THAT MAY HAVE MATERIAL BUSINESS OR FINANCIAL RELATIONSHIPS WITH THE CORPORATION, TO INCLUDE SIGNIFICANT VENDORS AND SERVICE PROVIDERS. THE CORPORATION AND ITS BOARD OF DIRECTORS HAVE ESTABLISHED PROCEDURES FOR REVIEWING AND ENFORCING MATTERS INVOLVING POTENTIAL OR ACTUAL CONFLICTS OF INTEREST IN ORDER TO PRECLUDE DIRECTORS, OFFICERS, OR EMPLOYEES (IN DECISION-MAKING CAPACITIES) FROM PARTICIPATING IN DELIBERATIONS OR DECISIONS IN WHICH CONFLICTS MAY BE FOUND TO EXIST. THE CORPORATION'S CONFLICT OF INTEREST POLICIES ARE ADMINISTERED BY THE COMPLIANCE AND LEGAL DEPARTMENTS, WITH DETERMINATIONS MADE AND EFFECTED BY THE CHIEF COMPLIANCE OFFICER, AND, WHEN APPROPRIATE, THE CHIEF EXECUTIVE OFFICER OR THE AUDIT AND OVERSIGHT COMMITTEE OF THE BOARD OF DIRECTORS. WHEN APPROPRIATE, THESE MATTERS ARE ALSO SUBJECT TO FINAL REVIEW AND DECISION BY THE BOARD OF DIRECTORS, WITH ANY POTENTIALLY CONFLICTED PARTIES BEING RECUSED. GENERAL STATEMENT 7 FORM 990, PART VI, SECTION B, LINE 15: THE 2019 COMPENSATION OF THE CORPORATION'S SENIOR EXECUTIVES WAS REVIEWED AND APPROVED, IN ADVANCE, BY VOTE OF THE INDEPENDENT MEMBERS OF THE CORPORATION'S BOARD OF DIRECTORS. IN EVALUATING SUCH COMPENSATION, THE BOARD HAD THE BENEFIT OF RECOMMENDATIONS FROM ITS ADMINISTRATION AND COMPENSATION COMMITTEE, ALSO COMPRISED OF INDEPENDENT DIRECTORS. NO MEMBER OF THE BOARD OR THE COMMITTEE VOTING ON SUCH COMPENSATION HAD OR HAS A CONFLICT OF INTEREST IN RESPECT THERETO. AS PART OF THE REVIEW AND APPROVAL PROCESS, THE BOARD AND COMMITTEE OBTAINED FROM AN INDEPENDENT COMPENSATION CONSULTANT, AND RELIED ON, DATA ON MARKET COMPARABILITY COMPENSATION FOR COMPARABLE POSITIONS IN COMPARABLE ORGANIZATIONS, INCLUDING DATA OBTAINED FROM FORMS 990 OF OTHER TAX-EXEMPT ORGANIZATIONS, PUBLICLY-AVAILABLE FINANCIAL AND MARKET DATA ON RELEVANT PRIVATE SECTOR ENTITIES, AND COMPENSATION STUDIES COMPILED BY THIRD-PARTY COMPENSATION EXPERTS. BOARD AND COMMITTEE DELIBERATIONS AND DECISIONS ON SUCH COMPENSATION MATTERS WERE FULLY AND CONTEMPORANEOUSLY DOCUMENTED. DURING 2019, THIS REVIEW AND APPROVAL PROCESS WAS UNDERTAKEN FOR EACH OF THE FOLLOWING PERSONS AND POSITIONS: LYNNE FORD (PRESIDENT, CHIEF EXECUTIVE OFFICER); ROBERT SCHULTZE (FORMER PRESIDENT, CHIEF EXECUTIVE OFFICER); ELIZABETH GLISTA (PAST TREASURER, CHIEF RISK OFFICER); MICHAEL GUARASCI (TREASURER, CHIEF FINANCIAL OFFICER); ANGELA MONTEZ (SECRETARY, GENERAL COUNSEL); WAYNE WICKER (SENIOR VICE PRESIDENT); CATHERINE LEGGETT (SENIOR VICE PRESIDENT); KARLA GILL (SENIOR VICE PRESIDENT); DAVID BRAVERMAN (MANAGING VICE PRESIDENT); ROSS GRAHAM (SENIOR VICE PRESIDENT); KAREN CHONG-WULFF (MANAGING VICE PRESIDENT); DAVID TANGUAY (SENIOR VICE PRESIDENT). THE CORPORATION ALSO CONDUCTS PERIODIC INTERNAL STUDIES OF COMPENSATION AMOUNTS PROVIDED TO THE MEMBERS OF ITS BOARD OF DIRECTORS. THIS REVIEW PROCESS WAS UNDERTAKEN IN 2019 USING COMPARABILITY DATA GATHERED FROM RECENT FORMS 990 OF OTHER TAX-EXEMPT ORGANIZATIONS AND FROM PUBLICLY-DISCLOSED FINANCIAL AND MARKET INFORMATION ON RELEVANT PRIVATE SECTOR ENTITIES. (ALTHOUGH THEY ARE NOT PAID DIRECTOR FEES FOR THEIR SERVICES, MEMBERS OF THE BOARD OF DIRECTORS MAY RECOGNIZE TAXABLE INCOME WITH RESPECT TO PAYMENTS INTENDED TO DEFRAY OCCASIONAL, INCIDENTAL TRAVEL COSTS OF COMPANION OR FAMILY MEMBERS ACCOMPANYING THEM TO BOARD MEETINGS, AND, WHEN APPROPRIATE, MAY ALSO INCLUDE OTHER SMALL TAXABLE AMOUNTS). GENERAL STATEMENT 8 FORM 990, PART VI, SECTION C, LINE 19: SENIOR MANAGEMENT OF THE CORPORATION HAS APPROVED AND IMPLEMENTED A PUBLIC DISCLOSURE POLICY WHICH SETS OUT PROCEDURES FOR MAKING ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICIES, FINANCIAL DATA AND TAX DOCUMENTS AVAILABLE FOR INSPECTION UPON REQUEST BY THE GENERAL PUBLIC. GENERAL STATEMENT 9 FORM 990, PART VII: SECTION B. INDEPENDENT CONTRACTORS NAME & BUSINESS ADDRESS DESCRIPTION OF SERVICES COMPENSATION ----------------------- ------------------------ ------------ DELOITTE CONSULTING, LLP STRATEGIC CONSULTING $3,143,647 4022 SELLS DRIVE HERMITAGE, TN 37076 DATA MANAGEMENT GROUP, LLC IT CONSULTING $2,726,857 2119 ELLIOTT AVE MCLEAN, VA 22101 SLALOM CONSULTING IT NETWORK SERVICES $1,723,847 821 2ND AVE., SUITE 100 SEATTLE, WA 98104 CAPITAL RELOCATION SERVICES LLC RELOCATION SERVICES $1,146,018 22884 Relocation Dr. Sterling, VA 20166 SELECTECH SOLUTIONS LLC PERSONNEL SERVICES $928,413 2425 WEST LOOP SOUTH #200 HOUSTON, TX 77027 ------------ TOTAL $9,668,782 GENERAL STATEMENT 10 FORM 990, PART XI, LINE 9: CHANGE IN UNRECOGNIZED NONQUALIFIED RETIREMENT PLAN COSTS <443,705> ----------- TOTAL TO FORM 990, PART XI, LINE 9 <443,705> ICMA-RC SERVICES LLC 777 N CAPITOL ST NE STE 600 WASHINGTON DC 20002 522138303 SEE PART VII DE 6833424 1136478 ICMA-RC VANTAGEPOINT TRANSFER AGENTS LLC 777 N CAPITOL ST NE STE 600 WASHINGTON DC 20002 522138305 SEE PART VII DE 0 0 ICMA-RC VANTAGEPOINT INVESTMENT ADVISERS LLC 777 N CAPITOL ST NE STE 600 WASHINGTON DC 20002 522138307 SEE PART VII DE 41904933 1099615 ICMA-RC VANTAGETRUST COMPANY LLC 777 N CAPITOL ST NE STE 600 WASHINGTON DC 20002 522325093 SEE PART VII NH 164664266 2641591 ICMA-RC INTERNATIONAL CITYCOUNTY MGMT ASSOC 777 N CAPITOL ST NE STE 500 WASHINGTON DC 20002 362167755 SEE PART VII IL 501(C)(3) LINE 10 NA false CENTER FOR PUBLIC ADMIN AND SERVICE INC 777 NORTH CAPITOL ST NE WASHINGTON DC 20002 521655825 SEE PART VII MD NA C CORP 3322769 9387391 0.33330 false false false false false false true false false false false true true false false false true false true false SUPPLEMENTAL INFORMATION ON PRIMARY ACTIVITY OF RELATED ORGANIZATIONS: SCHEDULE R ENTITY PRIMARY ACTIVITY ---------- ------ ---------------- PART I, LINE 1 ICMA-RC SERVICES, LLC SEC/FINRA-REGISTERED BROKER-DEALER DISTRIBUTING RETIREMENT TRUST INVESTMENT INTERESTS. PART I, LINE 2 VANTAGEPOINT TRANSFER TRANSFER AGENT PROVIDING AGENTS, LLC ADMINISTRATIVE SERVICES TO RETIREMENT PLANS AND TRUSTS. PART I, LINE 3 VANTAGEPOINT INVESTMENT SEC-REGISTERED INVESTMENT ADVISERS, LLC ADVISOR PROVIDING SERVICES TO RETIREMENT TRUST. PART I, LINE 4 VANTAGETRUST COMPANY, LLC STATE-REGULATED TRUST COMPANY MANAGING RETIREMENT TRUST INVESTMENT ASSETS. PART II, LINE 1 INTERNATIONAL CITY/COUNTY PROFESSIONAL AND EDUCATIONAL MANAGEMENT ASSOCIATION ORGANIZATION ADVANCING LOCAL GOVERNMENTS. PART IV, LINE 1 CENTER FOR PUBLIC REAL ESTATE INVESTMENT TRUST ADMINISTRATION AND HOLDING AND MANAGING SERVICE, INC. HEADQUARTERS OFFICE SPACE.