2018-11-15T15:54:07-06:00 2017-12-31 541062809 CAMERON MOBERLY & HAMRICK PC 8500 EXECUTIVE PARK AVE SUITE 412 FAIRFAX VA 22031 990 2017-01-01 221500498 CONSUMERS' RESEARCH INC CONS 2028980542 1801 F STREET NW NO 304 WASHINGTON DC 20006 RUSSELL OUTHOUSE OFFICER OF THE BOARD OF DIRECTORS 2028980542 2018-11-15 1 ALIDA A HAMRICK CPA P00682753 7032079200 2018-11-15 98.191.215.168 2018-11-15 16:01:18 ES P 86F677786DCC963B21D67F730396BD3FE3764744 86F677786DCC963B21D67F730396BD3FE3764744 2017 2019-02-21 02:37:17Z RUSSELL OUTHOUSE 1801 F STREET NW SUITE 304 WASHINGTON DC 20006 871874 0 X WWW.CONSUMERSRESEARCH.ORG X 1937 NJ CONSUMERS' RESEARCH IS AN INDEPENDENT EDUCATIONAL ORGANIZATION WHOSE MISSION IS TO INCREASE THE KNOWLEDGE AND UNDERSTANDING OF ISSUES, POLICIES, PRODUCTS, AND SERVICES OF CONCERN TO CONSUMERS AND TO PROMOTE THE FREEDOM TO ACT ON THAT KNOWLEDGE AND UNDERSTANDING. 3 2 13 0 0 0 1355005 720402 27650 27250 205 280 1025 123942 1383885 871874 0 0 0 0 512269 513581 0 0 0 630981 301696 1143250 815277 240635 56597 1109599 1163171 51803 34341 1057796 1128830 CONSUMERS' RESEARCH IS AN INDEPENDENT EDUCATIONAL ORGANIZATION WHOSE MISSION IS TO INCREASE THE KNOWLEDGE AND UNDERSTANDING OF ISSUES, POLICIES, PRODUCTS, AND SERVICES OF CONCERN TO CONSUMERS AND TO PROMOTE THE FREEDOM TO ACT ON THAT KNOWLEDGE AND UNDERSTANDING. 0 0 137357 ORGANIZATION PERFORMS RESEARCH, MAINTAINS A NEWS WEBSITE, AND SPEAKS ON THE RADIO TO INCREASE KNOWLEDGE AND UNDERSTANDING OF ISSUES, POLICIES, PRODUCTS, AND SERVICES OF CONCERN TO CONSUMERS AND TO PROMOTE THE FREEDOM TO ACT ON THAT KNOWLEDGE AND UNDERSTANDING. 189957 27250 ORGANIZATION HOSTS CONFERENCE BRINGING TOGETHER POLICY AND LEGAL EXPERTS AS WELL AS MEMBERS OF INDUSTRY TO DISCUSS PRESENT AND FUTURE STATE OF DIGITAL CURRENCY INNOVATION AND REGULATION WITH A FOCUS ON PROTECTING CONSUMERS THAT ARE END USERS OF THESE PRODUCTS. 323585 1115 ORGANIZATION PUBLISHES A MAGAZINE TO INCREASE KNOWLEDGE AND UNDERSTANDING OF ISSUES, POLICIES, PRODUCTS, AND SERVICES OF CONCERN TO CONSUMERS AND TO PROMOTE THE FREEDOM TO ACT ON THAT KNOWLEDGE AND UNDERSTANDING. 650899 1 1 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 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4 0 1 13 1 0 0 0 0 0 0 0 0 0 0 0 0 X 3 2 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X CONSUMERS' RESEARCH 2028980542 1801 F ST NW WASHINGTON DC 20006 COLIN SHEA BOARD MEMBER, SECRETARY 2.00 X X 0 0 0 JOHN BOSWICK BOARD MEMBER, TREASURER 2.00 X X 0 0 0 RUSSELL OUTHOUSE OFFICER OF THE BOARD 2.00 X 2000 0 0 JOHN MEYER SENIOR RESEARCHER 40.00 X 130000 0 0 KYLE BURGESS EXECUTIVE DIRECTOR 40.00 X 141500 0 0 JOSEPH COLANGELO FORMER BOARD PRESIDENT & EXECUTIVE DIRECTOR 40.00 X 30000 0 0 303500 0 0 2 1 0 0 0 720402 720402 BRETTON WOODS SUMMITT 900099 27250 27250 27250 280 280 1115 1115 122827 122827 122827 871874 0 0 151472 2000 2000 463600 394188 69412 16274 12206 4068 31707 23780 7927 33150 356 32794 1558 500 1058 11750 11750 133159 132409 750 16540 12189 4351 9109 9094 15 36760 36760 14985 14985 37409 37409 1118 1118 FEES (BANK, COMMISSION, 3973 3973 MEALS & ENTERTAINMENT 2033 2033 TAXES & LICENSES 78 78 WIKIMEDIA FOUNDATION DO 60 60 14 14 815277 650899 164378 0 17672 33771 100126 551868 859333 1269 350000 1218 80576 129937 144374 1313 1313 1109599 1163171 51803 34341 51803 34341 X 0 0 0 0 1057796 1128830 1057796 1128830 1109599 1163171 56597 14437 0 X 0 0 0 X 420000 935000 1885000 1355005 720402 5315407 27650 27250 54900 420000 935000 1885000 1382655 747652 5370307 0 0 0 5370307 459 319 58 1230 124222 126288 459 319 58 1230 124222 126288 420459 935319 1885058 1383885 871874 5496595 0.97700 0.99980 0.02300 0.00020 X SCHEDULE A PART III SECTION A LINE 1(A) & SECTION B LINE 9(A CONSUMERS' RESEARCH DID NOT RAISE FUNDS OR HAVE EXPENDITURES IN 2012, WHICH EXPLAINS WHY IT HAS 0% PUBLIC FUNDS FOR THAT YEAR. X X X 0 0 0 0 0 0 0 0 0 JOSEPH COLANGELO FORMER BOARD PRESIDENT & EXECUTIVE D 30000 0 0 0 0 0 0 0 0 0 30000 0 0 0 PART I, LINE 3 PROCESS FOR DETERMINING COMPENSATION (NAMELY THE EXECUTIVE DIRECTOR AND KEY EMPLOYEES) REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION MARKET SURVEY (GEOGRAPHY) AND SALARY HISTORY WITHIN THAT REGION. (1) AN EXECUTIVE COMMITTEE (COMPRISED OF MEMBERS OF THE BOARD OF DIRECTORS NOT EMPLOYED BY THE NON-PROFIT) RECOMMEND THE PROPOSED SALARY OF THE EXECUTIVE DIRECTOR (OR KEY EMPLOYEE) AND THE FULL BOARD OF DIRECTORS INDEPENDENTLY REVIEWS AND APPROVES THE SALARY. (2) THE EXECUTIVE COMMITTEE USES COMPARABILITY DATA, SUCH AS SALARY SURVEYS FROM SIMILAR NONPROFITS (I.E. SIMILAR MISSION FOCUS, BUDGET SIZE, AND GEOGRAPHIC REGION). (3) THE BOARD OF DIRECTORS DOCUMENTS ITS CONSIDERATION AND APPROVAL OF THE COMPENSATION IN THE MINUTES OF THE BOARD MEETING. JOSEPH COLANGELO FORMER BOARD PRESIDENT & EXECUTIVE DIRECTOR EXCESS BENEFIT TRANSACTION 1 0 0 JOSEPH COLANGELO FORMER BOARD PRESIDENT & EXECUTIVE DIRECTOR SECURE REPAYMENT OF EXCESS BENEFIT TRANSACTION X 350000 350000 0 1 1 350000 SCHEDULE L, PART I, LINE 1, IN 2017, CONSUMERS' RESEARCH BECAME AWARE THAT IT ENGAGED IN AN EXCESS BENEFIT TRANSACTION WITH THE DISQUALIFIED PERSON IDENTIFIED IN PART I, SECTION 1, LINE (1), COLUMN (A) OF THIS FORM. UPON BECOMING AWARE OF THE TRANSACTION, CONSUMERS' RESEARCH SOUGHT PROFESSIONAL ADVICE ON HOW TO PROPERLY ACCOUNT FOR THE TRANSACTION, RECOVER THE EXCESS BENEFIT, PREVENT FUTURE INSTANCES OF EXCESS BENEFIT TRANSACTIONS, AND AMEND PRIOR TAX RETURNS AFFECTED BY THE EXCESS BENEFIT TRANSACTION. REGARDING PART I, SECTION 1, LINE (1), COLUMN (D) OF THIS FORM, CONSUMERS' RESEARCH HAS CORRECTED THE TRANSACTION IN THE FOLLOWING WAYS: 1) CONSUMERS' RESEARCH HAS RECOVERED OVER 60% OF THE EXCESS BENEFIT AND HAS ISSUED AN INTEREST BEARING PROMISSORY NOTE TO SECURE THE REPAYMENT OF THE OUTSTANDING BENEFIT TO THE DISQUALIFIED PERSON IDENTIFIED IN PART I, SECTION 1, LINE (1), COLUMN (A) OF THIS FORM; 2) CONSUMERS' RESEARCH HAS RATIFIED FINANCIAL AND PROCEDURAL PROTOCOLS TO PREVENT EXCESS BENEFIT TRANSACTIONS IN THE FUTURE; AND 3) CONSUMERS' RESEARCH HAS WORKED WITH INDEPENDENT PROFESSIONALS TO CORRECT AND AMEND PAST 990 FILINGS AFFECTED BY THE EXCESS BENEFIT TRANSACTION, WHICH THE ORGANIZATION HAS PREPARED AND WILL SUBMIT SUBSEQUENT TO THIS 990 FILING. FORM 990, PART VI, SECTION B, LINE 11B PART VI, 11B 990 REVIEW PROCESS 1. THE ORGANIZATION'S EXECUTIVE DIRECTOR IS RESPONSIBLE FOR THE TIMELY PREPARATION OF THE FORM 990. THE ORGANIZATION'S EXECUTIVE DIRECTOR MAY CONFER WITH ACCOUNTANTS AND LEGAL COUNSEL OF THE ORGANIZATION WITH RESPECT TO DRAFTS OF THE FORM 990. 2. COPIES OF THE COMPLETED DRAFT FORM 990 (INCLUDING REQUIRED SCHEDULES) WILL BE DISTRIBUTED TO THE AUDIT COMMITTEE IN EITHER ELECTRONIC OR PAPER FORM FOR REVIEW AND APPROVAL. ANY QUESTIONS OR CONCERNS WILL BE NOTED AND ADDRESSED, AND MANAGEMENT STAFF WILL ENSURE THAT CHANGES ARE INCORPORATED INTO THE FORM 990 AS APPROPRIATE. 3. COPIES OF THE DRAFT FORM 990 WILL THEN BE DISTRIBUTED TO THE BOARD OF DIRECTORS IN EITHER ELECTRONIC OR PAPER FORM FOR REVIEW AND APPROVAL. ANY QUESTIONS OR CONCERNS WILL BE NOTED AND ADDRESSED, AND MANAGEMENT STAFF WILL ENSURE THAT CHANGES ARE INCORPORATED INTO THE FORM 990 AS APPROPRIATE. 4. AFTER ALL INPUT HAS BEEN APPROPRIATELY ADDRESSED, THE FINAL VERSION OF THE FORM 990 (WITH REQUIRED SCHEDULES) WILL BE DISTRIBUTED TO EVERY VOTING MEMBER OF THE ORGANIZATION'S BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. THE FINAL FORM MAY BE DISTRIBUTED EITHER IN PAPER OR ELECTRONIC FORM IN ANY MANNER DEEMED APPROPRIATE BY THE ORGANIZATION'S EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY (ABBREVIATED VERSION, FULL VERSION AVAILABLE UPON REQUEST) WHENEVER A DIRECTOR OR OFFICER HAS A FINANCIAL OR PERSONAL INTEREST IN ANY MATTER COMING BEFORE THE BOARD OF DIRECTORS, THE BOARD SHALL ENSURE THAT: 1. THE INTEREST OF SUCH OFFICER OR DIRECTOR IS FULLY DISCLOSED TO THE BOARD OF DIRECTORS. 2. NO INTERESTED OFFICER OR DIRECTOR MAY VOTE OR LOBBY ON THE MATTER OR BE COUNTED IN DETERMINING THE EXISTENCE OF A QUORUM AT THE MEETING OF THE BOARD OF DIRECTORS AT WHICH SUCH MATTER IS VOTED UPON. 3. ANY TRANSACTION IN WHICH A DIRECTOR OR OFFICER HAS A FINANCIAL OR PERSONAL INTEREST SHALL BE DULY APPROVED BY MEMBERS OF THE BOARD OF DIRECTORS NOT SO INTERESTED OR CONNECTED AS BEING IN THE BEST INTERESTS OF THE ORGANIZATION. 4. PAYMENTS TO THE INTERESTED OFFICER OR DIRECTOR SHALL BE REASONABLE AND SHALL NOT EXCEED FAIR MARKET VALUE. 5. THE MINUTES OF MEETINGS AT WHICH SUCH VOTES ARE TAKEN SHALL RECORD SUCH DISCLOSURE, ABSTENTION, AND RATIONALE FOR APPROVAL. CONSUMERS' RESEARCH ENSURES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY THROUGH PERIODIC INTERNAL MONITORING OF ADHERENCE TO ITS POLICIES AND PROCEDURES AND BY HAVING EMPLOYEES ACKNOWLEDGE AND SIGN THE CONFLICT OF INTEREST POLICY UPON HIRING. VIOLATION OF CONFLICT OF INTEREST POLICY MAY RESULT IN DISCIPLINE, UP TO AND INCLUDING TERMINATION OF EMPLOYMENT. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION (NAMELY THE EXECUTIVE DIRECTOR AND KEY EMPLOYEES) REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION MARKET SURVEY (GEOGRAPHY) AND SALARY HISTORY WITHIN THAT REGION. (1) AN EXECUTIVE COMMITTEE (COMPRISED OF MEMBERS OF THE BOARD OF DIRECTORS NOT EMPLOYED BY THE NON-PROFIT) RECOMMEND THE PROPOSED SALARY OF THE EXECUTIVE DIRECTOR (OR KEY EMPLOYEE) AND THE FULL BOARD OF DIRECTORS INDEPENDENTLY REVIEWS AND APPROVES THE SALARY. (2) THE EXECUTIVE COMMITTEE USES COMPARABILITY DATA, SUCH AS SALARY SURVEYS FROM SIMILAR NONPROFITS (I.E. SIMILAR MISSION FOCUS, BUDGET SIZE, AND GEOGRAPHIC REGION). (3) THE BOARD OF DIRECTORS DOCUMENTS ITS CONSIDERATION AND APPROVAL OF THE COMPENSATION IN THE MINUTES OF THE BOARD MEETING. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF GOVERNING AND FINANCIAL DOCUMENTS TO PUBLIC CONSUMERS' RESEARCH MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. INTERESTED PARTIES MAY SUBMIT A REQUEST THROUGH OUR ONLINE CONTACT FORM LOCATED ON THE "CONTACT US" PAGE OF OUR WEBSITE (WWW.CONSUMERSRESEARCH.COM) OR THEY MAY SUBMIT A REQUEST TO CONSUMERS' RESEARCH VIA EMAIL AT INFO@CONSUMERSRESEARCH.ORG. PART VI, SECTION B, 13 WHISTLEBLOWER POLICY (ABBREVIATED VERSION, FULL VERSION AVAILABLE UPON REQUEST) CONSUMERS' RESEARCH SEEKS TO HAVE AN "OPEN DOOR POLICY AND ENCOURAGES BOARD MEMBERS AND EMPLOYEES TO SHARE THEIR QUESTIONS, CONCERNS, SUGGESTIONS OR COMPLAINTS REGARDING THE ORGANIZATION AND ITS OPERATIONS WITH SOMEONE WHO CAN ADDRESS THEM PROPERLY. IN MOST CASES, A BOARD MEMBER OR COMMITTEE MEMBER SHOULD PRESENT HIS OR HER CONCERNS TO THE CHAIR OF THE BOARD. THE EXECUTIVE DIRECTOR IS GENERALLY IN THE BEST POSITION TO ADDRESS AN EMPLOYEE'S AREA OF CONCERN. HOWEVER, IF A BOARD MEMBER IS NOT COMFORTABLE SPEAKING WITH THE BOARD CHAIR OR IS NOT COMFORTABLE WITH THE BOARD CHAIR'S RESPONSE, OR IF AN EMPLOYEE IS NOT COMFORTABLE SPEAKING WITH THE EXECUTIVE DIRECTOR OR IF THE EMPLOYEE IS NOT SATISFIED WITH THE EXECUTIVE DIRECTOR'S RESPONSE, THE BOARD MEMBER, COMMITTEE MEMBER OR EMPLOYEE IS ENCOURAGED TO SPEAK WITH ANYONE ON THE BOARD WHOM THE EMLOYEE IS COMFORTABLE IN APPROACHING OR TO DIRECTLY CONTACT THE ORGANIZATION'S OUTSIDE LEGAL COUNSEL, WHOSE CONTACT INFORMATION CAN BE OBTAINED FROM THE EXECUTIVE DIRECTOR. PART VI, SECTION B, 14, SECTION C, 19 DOCUMENT RETENTION AND DESTRUCTION POLICY (ABBREVIATED VERSION, FULL VERSION AVAILABLE UPON REQUEST) GENERAL RETENTION IS 7 YEARS, LARGELY WITH THE EXCEPTION OF PERMANENT DOCUMENTS SUCH AS INCORPORATION PAPERS. ACCOUNTS PAYABLE LEDGERS AND SCHEDULES, 7 YEARS; AUDIT REPORTS, PERMANENTLY; CHECKS (FOR IMPORTANT PAYMENTS AND PURCHASES), PERMANENTLY; CONTRACTS, MORTGAGES, NOTES, AND LEASES (EXPIRED) 7 YEARS. CORRESPONDENCE (LEGAL AND IMPORTANT MATTERS) PERMANENTLY. DEEDS, MORTGAGES, AND BILLS OF SALE, PERMANENTLY. DEPRECIATION SCHEDULES, PERMANENTLY. EXPENSE ANALYSES/EXPENSE DISTRIBUTION SCHEDULES, 7 YEARS. YEAR-END FINANCIAL STATEMENTS, PERMANENTLY. INSURANCE RECORDS, CURRENT ACCIDENT REPORTS, CLAIMS, POLICIES, AND SO ON (ACTIVE AND EXPIRED), PERMANENTLY. INVOICES (TO CUSTOMERS, FROM VENDORS), 7 YEARS. MINUTE BOOKS, BYLAWS, AND CHARTER, PERMANENTLY. PATENTS AND RELATED PAPERS, PERMANENTLY. PAYROLL RECORDS AND SUMMARIES, 7 YEARS. PERSONNEL FILES (TERMINATED EMPLOYEES), 7 YEARS. RETIREMENT AND PENSION RECORDS, PERMANENTLY. TAX RETURNS AND WORKSHEETS, PERMANENTLY. TIMESHEETS, PERMANENTLY. TRADEMARK REGISTRATIONS AND COPYRIGHTS, PERMANENTLY. WITHHOLDING TAX STATEMENTS, 7 YEARS.