2018-05-15T08:46:48-05:00 2017-12-31 410746749 CliftonLarsonAllen LLP 220 South Sixth Street Suite 300 Minneapolis MN 55402 990 2017-01-01 760677933 Network of Executive Women Inc NETW 3124140229 PO Box 64417 Chicago IL 60664 Sarah Alter President and CEO 3124140229 2018-05-11 1 John J Tauer P00294068 6123764500 67.137.57.251 2018-05-11 17:22:45 CD P 92465E57DADAD6C24A7EB17F4905229B30516652 FD302F4D5CE3C660ABAF9933EAAEEC9F457F14F9 2017 2021-01-29 14:40:06Z Sarah Alter PO Box 64417 Chicago IL 60664 8650401 0 X www.newonline.org X 2001 MD Advance women, grow business & transform our industry's workplace through the power of community. 25 25 27 1000 0 0 2759313 3041338 5396514 5602729 3389 5871 -3164 463 8156052 8650401 14217 15157 0 0 2925184 2735318 0 0 567253 4526945 5635743 7466346 8386218 689706 264183 4346030 4033793 2835531 2259111 1510499 1774682 X To advance women, grow business and transform our industry's workplace through the power of community. 0 0 3225921 0 2482751 In 2001 a small group of industry leaders formed the Network of Executive Women. Their goal: Increasing leadership opportunities for women in the retail and consumer goods industry. By the end of 2017, the Network had grown into a powerful community of 10,685 members, 831 organizations, 103 partner companies and 21 regions across North America. NEW's community of nearly 11,000 members and more than 100 corporate partners is the start of our influence, not the end. Our drive for gender equality and inclusion begins with a core community of dedicated volunteer leaders, is amplified by our partners and allies, and expands through our members and supporters, spreading our mission throughout the industries we serve. NEW works from the C-suite down and from the grassroots up, providing support for senior leadership, career development for employees and managers, insights for organizations and inclusion best practices for retail, consumer goods, financial services and technology. NEW career development - based on the NEW Career Accelerator Model - helps build better leaders, increase job satisfaction and retention, and create more productive work teams and a better bottom line. Our growing menu of learning programs includes NEW Executive Institute for upward bound executives, NEW Rising Stars for mi-career leaders and onsite Career Accelerator workshops. The NEW Executive Forum is a unique retreat for senior level women, while the NEW Leadership Summit and 130 regional events support leaders and programs - online or in person - build confidence, expand connections, foster mentor relationships and close the feedback loop, advancing women every stop of their careers. NEW collaborates with our corporate partners - and an increasing number of allied diversity organizations - to advance women leaders, drive gender equality and increase inclusion in the companies and industries we serve. Executives from our partner companies serve on our Board and direct our strategy, partner contributions underwrite all our programs and services; and corporate members designated by our corporate partners comprise nearly 85 percent of our membership. NEW welcomed 14 NEW corporate partners in 2017 (a record total of 105), and we launched new alliances with organizations like CEO Action for Diversity & Inclusion, Enactus and many others. The workplace is being transformed and NEW is transforming it. The Network of Executive Women's $5 million Future Fund campaign, launched in 2016, is powering new research and insights, increased technology, and expanded advocacy on behalf of NEW partners and members. Investments include new infrastructure, a new website, consolidated database system, an online Member Community and new proprietary research to support NEW's members, partners and regional groups. In the coming months, NEW will expand its services further by growing in the financial services and tech sectors, adding new learning, increasing membership, and alliances, and delivering a Blueprint for Action on gender equality. NEW relies on its financial good health - and healthy fundraising- to advance gender equality, support our members and help transform the industries and companies we serve. Thanks to our NEW Future Fund capital campaign, the contributions of our partners and the support of our members, NEW has expanded its scope, solutions and services beyond the horizons first imagined by our founders 17 years ago. 926794 1454680 The NEW Leadership Summit is the Network's largest annual event and the retail and consumer goods industry's largest conference on women's leadership, attracting more than 1,000 Network members each year. The Summit offers inspiration, team building and career development for emerging leaders, mid-level managers, senior executives and men who lead women. It features nationally known inspirational keynote speakers, workshops led by workforce, diversity and career experts, and special events like our Celebrating Excellence Awards recognizing diversity achievements in the industry. The Network also recognizes outstanding achievement in support of its mission with the "William J. Grize Hall of Fame Award and presents regional service awards to its regions and volunteers. Many companies send delegations of 50, 100 or more to learn, bond with their teams and engage with other organizations. 672101 0 809523 NEW's 21 volunteer-run regions are the backbone of NEW and the strong grassroots from which we grow. NEW regional groups are a proving ground for new ideas and a training ground for the industry's next generation of leaders (more than nine in 10 NEW members are affiliated with one of our regions). NEW regions hosted 130 learning events and mixers in 2017. They enlisted new members, engaged regional sponsors, fostered mentoring and conducted college and community outreach. NEW's regional groups deliver our mission to the local communities where our members live and work. Over 1,000 regional leaders and volunteers do it all, from booking speakers and renting venues to promoting events and recruiting new members and sponsors. In 2017, NEW launched its 21st regional group - NEW Idaho. Two NEW regions - NEW Northern California and NEW Chicago - celebrated their 10th anniversaries, proving the staying power of our robust regional communities 576369 855775 Executive Leaders ForumThe prestigious NEW Executive Leaders Forum is a yearly retreat designed to support women's executive leadership in the retail and consumer products industry. At the Forum, senior-level leaders learn how to advance to the "C-suite and develop diverse, inclusive and successful organizations from subject matter experts and from top industry leaders and prominent women's leadership advocates. 16175 15157 0 Scholarship ProgramThe Network awards scholarships each year to qualified female students enrolled in industry-related studies in the United States. In addition, NEW regional groups reach out to colleges and universities in their area to mentor students and offer free admission to regional Network events. 592544 15157 855775 5417360 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 75 0 27 1 0 1 CA 0 0 1 1 1 1 0 0 0 0 X 25 25 0 0 1 0 1 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AR CA CO FL GA IL MA MI MN NY NC OH OR PA WA TX VA AZ ID MD TN X Carol Jones VP of Finance and Admi 6123994261 161 N Clark Street c/o Accenture Chicago IL 60601 Karen Stuckey Chair 5.00 X X 0 0 0 Lisa Walsh Vice Chair 5.00 X X 0 0 0 Betsy Hosick Immediate Past Chair 5.00 X X 0 0 0 Regenia Stein Secretary 5.00 X X 0 0 0 Erby Foster Jr Treasurer 5.00 X X 0 0 0 Trish Adams Director 1.50 X 0 0 0 Dorria Ball Director 1.50 X 0 0 0 Carmen Bauza Director 1.50 X 0 0 0 Dagmar Boggs Director 1.50 X 0 0 0 Ken Charles Director 3.00 X 0 0 0 Tammy DeBoer Director 1.50 X 0 0 0 Vicki Felker Director 1.50 X 0 0 0 Amy Hahn Director 3.00 X 0 0 0 Meg Ham Director 1.50 X 0 0 0 Nicola Johnson Director 1.50 X 0 0 0 Suzan Kereere Director 1.50 X 0 0 0 Dawn Kirk Director 1.50 X 0 0 0 Beth Marrion Director 1.50 X 0 0 0 Karen Mooney Director 1.50 X 0 0 0 Valerie Oswalt Director 1.50 X 0 0 0 Ginnie Roeglin Director 1.50 X 0 0 0 Margarita Rossi Director 3.00 X 0 0 0 Sue Sears Director 3.00 X 0 0 0 Marla Thompson Director 3.00 X 0 0 0 Monica Turner Director 1.50 X 0 0 0 Bobbie O'Hare Director Emeritus 3.00 X 0 0 0 Sarah Lindstrom Alter President and CEO 40.00 X 183750 0 23628 Carol Jones VP, Finance & Admin 40.00 X 174374 0 20665 Nancy Krawczyk-Priory VP, Partner and Member Engagement 40.00 X 242770 0 27109 Kathleen Bayert VP, Learning & Advisory 40.00 X 227242 0 31556 Stephanie L McFee VP, Member & Region Servic 40.00 X 159752 0 35650 Robert Solomon Director of Talent Develop 40.00 X 146530 0 17289 Robert Wray Director of Communications & Engagement 40.00 X 131500 0 13373 Julie Janckila Director of Corporate Partnerships 40.00 X 108918 0 13048 Joan Toth Former President & CEO 0.00 X 306739 0 21296 1681575 0 203614 9 1 1 0 Marriot Marquis 901 Massachusetts Avenue NW Washington DC 20001 Conferences 461170 Sutton Place HR Consulting Group 25 Sutton Pl South 7G New York NY 10022 CEO Transition 375846 Creative Mill Productions 512 Mowbray Arch Norfolk VA 23507 Audio Visual 248902 MADLAN Specialists Inc 20 Hadley Road Merrimack NH 03054 Information Technology Consulting 213635 Protech Associates 5457 Twin Knolls Road Suite 400 Columbia MD 21045 Database Implementation 202648 5 13807 3027531 3041338 Educational/Networking 900099 2939091 2939091 Membership Dues 900099 1946478 1946478 Program Related Sales 900099 712712 712712 Marketing Income 900099 4448 4448 5602729 5871 5871 0 13807 0 0 Miscellaneous 900099 463 463 463 8650401 5602729 0 6334 X 15157 15157 1294149 269443 800301 224405 1162369 386387 632192 143790 24941 7348 13699 3894 77714 27799 38128 11787 176145 47559 102164 26422 120759 92984 26567 1208 85489 85489 2015427 1529006 459288 27133 216866 145819 39882 31165 148134 39996 85918 22220 239258 117438 62958 58862 2689362 2689362 11647 2912 5241 3494 6948 1876 4030 1042 Bad Debt Expense 59300 16011 34394 8895 Gifts and Awards 22977 22977 Staff Development 8022 2166 4653 1203 11554 3120 6701 1733 8386218 5417360 2401605 567253 2839650 2908282 1344001 949530 137899 162071 126691 123556 13338 3135 11142 10775 4346030 4033793 787549 659518 2047982 1599593 2835531 2259111 X 565272 682935 945227 1091747 1510499 1774682 4346030 4033793 264183 0 X 0 1 X 1 0 X 1413026 1336850 1379625 2759313 3041338 9930152 1413026 1336850 1379625 2759313 3041338 9930152 1146744 8783408 8241 6271 5599 3389 5871 29371 9959523 20843675 0.88190 0.89240 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 126691 123556 3135 3135 X 7642680 423914 423914 7218766 1431635 1431635 8650401 6886731 423914 423914 6462817 1923401 1923401 8386218 Part X, Line 2: The organization is exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code (the Code), as a charitable organization whereby only unrelated business income, as defined by section 509(a)(1) of the Code, is subject to federal income tax. The organization currently has no unrelated business income, accordingly, the accompanying financial statements contain no provision for income taxes. Management has concluded that the organization has maintained its exempt status. Additionally, management has concluded that there are no uncertain tax positions as of December 31, 2017 and 2016. Part XI, Line 4b - Other Adjustments: Interest Income 6,185. NEW Future Fund 1,425,450. Part XII, Line 4b - Other Adjustments: Leadership Transition 659,626. Future Fund Expenses 1,263,775. North America - Canada and Mexico, but but not the United States 0 0 Program Services Regional group activities including learning events and other activities to build leadership skills and create lasting relationships. 14027 0 0 0 0 0 0 14027 0 14027 0 0 0 0 0 0 Part I, line 3: Actual expenses including direct and allocated indirect. 1 Scholarships 6 15156 N/A N/A Part I, Line 2: The Network's Scholarship Committee, a standing committee of the Board reviews applications annually. They compare the applications to the published scholarship criteria and then make selections. Any awarded funds are sent directly to the school bursar's office on behalf of the student. X X 0 0 0 0 0 0 0 0 0 Sarah Lindstrom Alter President and CEO 183750 0 0 0 0 0 1575 0 22053 0 207378 0 0 0 Carol Jones VP, Finance & Admin 152187 0 22187 0 0 0 3044 0 17621 0 195039 0 0 0 Nancy Krawczyk-Priory VP, Partner and Member Engagement 204385 0 38385 0 0 0 4088 0 23021 0 269879 0 0 0 Kathleen Bayert VP, Learning & Advisory 191171 0 36071 0 0 0 3823 0 27733 0 258798 0 0 0 Stephanie L McFee VP, Member & Region Servic 144876 0 14876 0 0 0 2897 0 32753 0 195402 0 0 0 Robert Solomon Director of Talent Develop 141530 0 5000 0 0 0 2831 0 14458 0 163819 0 0 0 Joan Toth Former President & CEO 306739 0 0 0 0 0 0 0 21296 0 328035 0 280000 0 Reginia Stein Officer 157859 Interim CEO services provided by Regenia Stein through Ingenuity Consuting, LLC which is owned by Reginia 0 Form 990, Part VI, Section A, line 1 The officers and the Committee Chairs shall constitute the Executive Committee. No more than two members of the Executive Committee shall be represented by any one company. The Executive Committee shall have full power and authority to direct the day-to-day operations of the Network and shall have all of the powers of the Board of Directors, except those reserved to the Board of Directors by law, by the Articles of Incorporation, or the bylaws. Form 990, Part VI, Section A, line 4 Voting rights changed from having members elect or remove directors and vote on other corporate actions to provide the board of directors the power to elect directors through a governance committee and to vote on other corporate actions. Form 990, Part VI, Section A, line 6 The Network of Executive Women has approximately 11,000 individual members who are able to participate in the educational and leadership development activities of the organization. Form 990, Part VI, Section B, line 11b The return is reviewed by management. Prior to filing the Form 990, the Network of Executive Women, Inc.'s governing board received a copy of the filing. Form 990, Part VI, Section B, line 12c Procedures for Addressing the Conflict of Interest. 1. If the Board determines that a particular relationship or transaction represents an actual, potential or apparent conflict of interest, it shall resolve such actual, potential or apparent conflict in one of the following manners: a. Waive the actual, potential or apparent conflict as unlikely to affect the Director's ability to act in the best interests of NEW. b. Determine that the Director should be recused from all deliberations and decision-making related to the particular transaction which gives rise to the actual, potential or apparent conflict. c. Determine that the Director must resign from his/her service to NEW because the actual, potential or apparent conflict is so pervasive that the Director would seldom, if ever, likely be able to act in the best interests of NEW. 2. The following procedure is applicable to all instances in which a Director (or the Director's company, organization or another entity for which the Director serves in a leadership, employment or ownership capacity, or a member of the Director's family) seeks to provide goods or services to NEW as a paid vendor, or seeks to receive a significant grant or contract for one of the three organizations. a. The Director must disclose to the Board in advance of any related action to be taken by the Board his/her intent to seek to provide goods or services as a paid vendor to NEW, or receive a grant or contract from NEW; b. After disclosure, the Director may make a presentation to the Board regarding the proposed transaction or arrangement, but after such presentation, the Director must recuse himself/herself from all deliberations and voting related to the contemplated action; c. If the value of the transaction exceeds $5,000, NEW must, through a request for proposal process, have solicited proposals broadly from other qualified vendors/ prospective grant or contract recipients and received (or attempted to receive) written bids from at least three such individuals/ entities (including the Director); d. After exercising due diligence, the Board shall exercise its best efforts to determine whether NEW can obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest; e. The Board must determine (without the presence or participation of the Director), upon advice of its counsel and by a majority vote of the disinterested members of the Board, that the transaction or arrangement is fair and reasonable and in NEW's best interest based on all of the facts and circumstances, and such determination (including the fact that is was made in the absence of the Director) shall be documented as part of the relevant meeting minutes (all competing bids received should be retained as well); and f. If selected, the Director may not participate in any process by which his/her performance as a vendor/grant or contract recipient is evaluated. Form 990, Part VI, Section B, line 15 The President & Chief Executive Officer's compensation is reviewed annually working with a compensation consulting group and a Compensation Committee which is established by the Board of Directors. The Board of Directors are independent. External data is received from the American Society of Association Executives and PRM to substantiate and support the compensation level. The Compensation Committee Chair makes change recommendations to the five Officers of the Board. The approved increases/changes are presented to the Board. Compensation changes for other employees is based on their level. For the top three Executives reported on the Form 990 below the CEO/President, the Compensation Committee Chair with input from the CEO/President makes change recommendations to the five Officers of the Board. The approved increases are presented to the Board. For other Vice Presidents and above the CEO/President with the five Officers of the Board approve any changes. Form 990, Part VI, Section C, line 19 The Network of Executive Women, Inc. makes its governing documents and its Conflict of Interest Policy available to the public on their website. The financial statements are not available for public inspection. Form 990, Part IX, line 11g Other Professional Fees: Program service expenses 1,529,006. Management and general expenses 459,288. Fundraising expenses 27,133. Total expenses 2,015,427.