2017-12-19T11:13:51-06:00 2017-06-30 GRANT THORNTON LLP 171 N CLARK ST SUITE 200 CHICAGO IL 60601 990 2016-07-01 362197847 The Commercial Club of Chicago % MS CORDELIA C MEYER COMM 3128531200 21 S Clark Street Suite 4301 CHICAGO IL 60603 KELLY R WELSH President 3128531200 2017-12-15 true DANIEL ROMANO P00504182 3128560200 38.69.39.117 36941220173535000004 2017-12-19 P 22D7406747876A322039924BC13534D309B72991 41914840F4E15E9E9B073D3B501193633E1CC56C 2016 2018-03-14 21:41:22Z KELLY R WELSH 21 S Clark Street Suite 4301 CHICAGO IL 60603 7989351 false X www.commercialclubchicago.org X 1877 IL THE PURPOSE OF THE COMMERCIAL CLUB OF CHICAGO IS TO PROMOTE THE SOCIAL AND ECONOMIC VITALITY OF THE METROPOLITAN AREA OF CHICAGO. 11 10 14 150 0 0 0 2848844 2461211 16314 24849 86806 86414 2951964 2572474 0 0 0 0 1697596 1601798 0 0 0 1229381 1350380 2926977 2952178 24987 -379704 3567306 3278991 441383 454936 3125923 2824055 X SEE NOTE O false false 821294 791550 The Club holds 10 monthly meetings to hear prominent speakers discuss key issues which impact the social and economic well-being of the Chicago region. 315403 315403 State Finance - This program, which began in 2006 as part of the State Finance Task Force, analyzes the status of the State of Illinois finance system, including its revenue structure, pension and health care obligations, school funding, Medicaid and other. 223347 223347 Tax Policy Task Force - Building on the work of the State Finance initiative, the Tax Policy Task Force was formed in 2015 to examine the financial challenges facing Illinois, especially focused on tax and budgetary policies and practices that require improvement or significant change. The task force developed a framework with IIB which included recommendations for the States leaders to address the fiscal situation as well as the states regulatory and governance structure that make Illinois an outlier in comparison to other states. These recommendations were included in IIB's report entitled, "Bringing Illinois Back: A Framework for Our Future." The plan included long-term solutions to restore State governments fiscal integrity and its reputation among employers and investors, while ensuring the provision of critical public services to its communities and residents. 352981 1130911 1713025 false false false true false false false false false true false false true true true true false false false false false false false false false false false false true false false false false false false false false false false false false false true true true false true 8 0 true 14 true false false false false true true false X 11 10 false false false false true true true true false false true true true true true true true true true true false X MS CORDELIA C MEYER 3128531200 21 S CLARK STREET SUITE 4301 Chicago IL 60603 Tyrone C Fahner Director/President (THRU 3/17) 23.0 17.0 X X 272732 181821 34375 Frederick H Waddell Vice Chairman 1.0 3.0 X X 0 0 0 E SCOTT SANTI Director/Chairman 1.0 3.0 X X 0 0 0 Scott Swanson DIRECTOR/Treasurer 1.0 3.0 X X 0 0 0 James Reynolds Jr DIRECTOR/Secretary 1.0 3.0 X X 0 0 0 Charles K Bobrinskoy DIRECTOR 1.0 0.0 X 0 0 0 A Stephen Crown DIRECTOR 1.0 0.0 X 0 0 0 Janet P Froetcher DIRECTOR 1.0 0.0 X 0 0 0 Larry J Goodman MD DIRECTOR 1.0 0.0 X 0 0 0 Brett J Hart DIRECTOR 1.0 0.0 X 0 0 0 Sophia Shaw DIRECTOR 1.0 0.0 X 0 0 0 Kelly R Welsh DIRECTOR/PRESIDENT (FROM 4/17) 24.0 16.0 X X 0 0 0 Cordelia C Meyer EXECUTIVE Vice President 30.0 10.0 X 249055 83019 31059 Kirsten Carroll VP, Public Policy 36.0 4.0 X 194877 21653 37675 Suzanne Fisher VP, Finance & Admin 31.0 1.0 X 117322 4889 32228 833986 291382 135337 4 false true false Nancy Prosko 450 VOLTZ ROAD NORTHBROOK IL 60062 IT CONSULTANT 139676 Harry Walker Agency Inc 355 Lexington Avenue NEW YORK NY 10017 SPEAKERS BUREAU 105975 2 0 AFFILIATE PROGRAM SUPPORT 900099 1669661 1669661 NONDEDUCTIBLE DUES 900099 737000 737000 GUEST FEES 900099 54550 54550 2461211 59800 59800 0 0 156741 72084 84657 0 84657 84657 5309842 5344793 -34951 -34951 -34951 0 0 0 0 0 0 0 0 0 MISCELLANEOUS REVENUE 900099 1757 1757 1757 2572474 2461211 111263 X 0 0 0 0 589433 589433 0 816286 397815 418471 22655 11812 10843 94996 51326 43670 78428 50542 27886 0 0 38803 38803 0 0 0 476934 259825 217109 0 71854 12330 59524 76084 11953 64131 0 286141 32681 253460 21463 6673 14790 0 282163 261465 20698 173 173 0 46002 5633 40369 21645 21645 MEMBERSHIP DIRECTORY 17862 17862 0 0 MEMBERSHIP DUES 3891 2890 1001 0 . 0 . 0 7365 785 6580 2952178 1713025 1239153 0 44465 50396 1619631 630980 0 0 16497 13029 0 0 0 0 0 0 0 0 7290 7526 379580 217163 192211 162417 1503390 2075400 0 0 0 0 0 0 183822 339243 3567306 3278991 126505 230689 0 0 4000 2000 0 0 0 0 0 0 0 0 0 0 310878 222247 441383 454936 X 3125923 2824055 0 0 0 0 3125923 2824055 3567306 3278991 -379704 77836 X false true X true false false true false 222953 122259 100694 156627 94904 61723 162417 DUE FROM AFFILIATES 339243 339243 0 DUE TO AFFILIATES 13071 DEFERRED RENT 209176 222247 X 2713089 77836 62779 140615 2572474 2572474 3014957 62779 62779 2952178 2952178 SCHEDULE D, PART X, LINE 2 FIN 48 (ASC 740) FOOTNOTE THE CLUB WAS ORGANIZED AND INCORPORATED IN ILLINOIS AS A NOT-FOR-PROFIT ORGANIZATION IN 1877. THE CLUB HAS RECEIVED A FAVORABLE DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE (IRS) STATING THAT IT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, EXCEPT FOR INCOME TAXES PERTAINING TO UNRELATED BUSINESS INCOME. THE FINANCIAL ACCOUNTING STANDARDS BOARD ISSUED GUIDANCE THAT REQUIRES TAX EFFECTS FROM UNCERTAIN TAX POSITIONS TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE TAX POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. ADDITIONALLY, NO PROVISION FOR INCOME TAXES IS REFLECTED IN THESE FINANCIAL STATEMENTS, AND THERE IS NO INTEREST OR PENALTIES RECOGNIZED IN THE STATEMENTS OF FINANCIAL POSITION OR STATEMENTS OF ACTIVITIES. X X X X X false false false false false false false false false Tyrone C Fahner Director/President (THRU 3/17) 268134 178756 0 0 4598 3065 8382 5587 12244 8162 293358 195570 0 0 Cordelia C Meyer EXECUTIVE Vice President 244781 81594 0 0 4274 1425 9938 3313 13356 4452 272349 90784 0 0 Kirsten Carroll VP, Public Policy 193906 21545 0 0 971 108 9917 1102 23990 2666 228784 25421 0 0 Suzanne Fisher VP, Finance & Admin 115702 4821 0 0 1620 68 6199 258 24740 1031 148261 6178 0 0 FORM 990, PART III, LINE 1 ORGANIZATION'S MISSION The Commercial Club of Chicago (the Club) was founded in 1877 to promote the social and economic vitality of the metropolitan area of Chicago. Originally founded by a group of 17 businessmen who believed Chicago needed a strong and cohesive civic force to help shape the course of the citys development, today the Club is an organization comprised of 500 senior business, professional, educational and cultural leaders who seek to address social and economic issues of importance to the Chicago region. The Club holds 10 monthly meetings to hear prominent speakers discuss key issues which impact the social and economic well-being of the Chicago region. In 1983, the Club commissioned a study of the economic well-being of the Chicago metropolitan area. The study concluded that Chicago was experiencing a gradual erosion of its economic vitality. In response, the Club formed its Civic Committee to examine various issues that were affecting the economic well-being of the metropolitan area and to devise a long-term strategic plan for addressing these problems. Today, the Civic Committee which is comprised of 90 senior executives of the Chicago regions leading employers, is dedicated to improving Chicagoland as a place to live, work, and conduct business. The Club and the Civic Committee have created and supported affiliated and related organizations to specific areas of focus in achievement of the Club and Civic Committees mission. At the present time, these organizations currently include the Civic Consulting Alliance (CCA), Illinois Is Broke (IIB) and New Schools for Chicago (NSC). FORM 990, PART III, LINE 4 OTHER PROGRAM SERVICES Education - This program focuses on developing policies to improve the Chicago Public Schools (CPS) and the State of Illinois Pre-school - 12 educational system, including educational choice, standards, assessment and accountability, finance and other related topics. Transportation In 2016, the Civic Committee formed its Transportation Task Force. The purpose of the task force is to review the current status of the Chicago regions transportation system and make policy recommendations and work to implement a long-term strategy to maintain and improve Chicagos role as the transportation hub of our nation. Other Programs The Civic Committee created and supports Civic Consulting Alliance (CCA) and New Schools for Chicago (NSC). As a result, senior management of the Civic Committee allocate portions of their time to this work. Veterans Working Group This program focuses on engaging major Chicago-area employees to hire, support and retain returning veterans. The Civic Committee holds meetings and events from time-to-time to hear from experts and address issues affecting our region. FORM 990, PART VI, LINE 6 MEMBERS OR STOCKHOLDERS THE COMMERCIAL CLUB OF CHICAGO IS A MEMBERSHIP ORGANIZATION. MEMBERS NOMINATE AND VOTE ON THE ELECTION OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE EMPLOYS A PRESIDENT WHO THEN MANAGES THE DAY TO DAY OPERATIONS OF THE CLUB. FORM 990, PART VI, LINE 7A MEMBERS WHO MAY ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY THE COMMERCIAL CLUB OF CHICAGO IS A MEMBERSHIP ORGANIZATION. MEMBERS NOMINATE AND VOTE ON THE ELECTION OF GOVERNING BOARD MEMBERS. FORM 990, PART VI, LINE 7B GOVERNANCE DECISIONS BY PERSONS OTHER THAN THE GOVERNING BODY THE BYLAWS MAY BE ALTERED OR AMENDED AT ANY COMMERCIAL CLUB MEETING BY A MAJORITY VOTE OF THE ACTIVE AND LIFE MEMBERS PRESENT AT THE MEETING. FORM 990, PART VI, LINE 8B COMMITTEES THERE WERE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY DURING THE YEAR. FORM 990, PART VI, LINE 11B REVIEW OF FORM 990 THE FORM 990 WAS PREPARED BY A NATIONAL PUBLIC ACCOUNTING FIRM IN CONJUNCTION WITH MANAGEMENT AND STAFF OF THE ORGANIZATION. A DRAFT WAS THEN PROVIDED TO MANAGEMENT. MANAGEMENT AND THE TREASURER REVIEWED A DRAFT VERSION OF THE FORM 990. SUBSEQUENT TO THEIR REVIEW, MANAGEMENT AND THE TREASURER, ALONG WITH THE ORGANIZATION'S VP, FINANCE & ADMIN DISCUSSED THE DRAFT VERSIONS WITH THE TAX PREPARERS INCLUDING ANY QUESTIONS OR NECESSARY REVISIONS. BASED ON FEEDBACK FROM THAT MEETING, THE FORM 990 WAS REVISED AS NECESSARY. THE BOARD OF DIRECTORS RECEIVED A COPY OF THE FORM 990 PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, LINE 12B DIRECTOR CONFLICT OF INTEREST POLICY NO DIRECTOR OR MEMBER OF ANY COMMITTEE SHALL DERIVE ANY PERSONAL PROFIT OR GAIN, DIRECTLY OR INDIRECTLY, BY REASON OF HIS OR HER MEMBERSHIP ON THE BOARD OF DIRECTORS OR A COMMITTEE. IF A DIRECTOR OR COMMITTEE MEMBER IS DIRECTLY OR INDIRECTLY A PARTY TO ANY TRANSACTION CONSIDERED BY THE BOARD OF DIRECTORS OR A COMMITTEE, THE DIRECTOR OR COMMITTEE MEMBER SHALL DISCLOSE THE MATERIAL FACTS OF THE TRANSACTION AND THE DIRECTOR'S INTEREST OR RELATIONSHIP PRIOR TO THE APPROVAL OR RATIFICATION OF THE TRANSACTION BY THE BOARD OF DIRECTORS OR COMMITTEE, AND SHALL NOT VOTE ON THE APPROVAL OR RATIFICATION OF THE TRANSACTION. FORM 990, PART VI, LINE 12C MONITORING CONFLICT OF INTEREST TRANSACTIONS THAT INVOLVE A BOARD MEMBER OR OFFICER ARE ASSESSED TO DETERMINE IF A CONFLICT OF INTEREST EXISTS. THE DECISIONS REGARDING IF A CONFLICT EXISTS IS DETERMINED BY THE GOVERNING COMMITTEE OF THE ORGANIZATION. IF A CONFLICT IS IDENTIFIED, THE MEMBER THAT IT RELATES TO IS ASKED TO ABSTAIN FROM THE CONVERSATION AND ANY RELATED DECISIONS MADE. ALTHOUGH THE ORGANIZATION'S CONFLICT OF INTEREST POLICY DOES NOT REQUIRE AN ANNUAL COMPLETION OF A CONFLICT OF INTEREST STATEMENT, EACH OFFICER, DIRECTOR, AND KEY EMPLOYEE IS REQUIRED TO DISCLOSE, ON A CONTEMPORANEOUS BASIS, WHEN A CONFLICT ARISES. FORM 990, PART VI, LINES 15A AND 15B COMPENSATION APPROVAL THE CLUB USES THE FOLLOWING TO ESTABLISH COMPENSATION FOR ALL EMPLOYEES: A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY, AND APPROVAL BY THE BOARD AND COMPENSATION COMMITTEE. COMPENSATION IS CONTEMPORANEOUSLY DOCUMENTED BY THE COMPENSATION COMMITTEE. FORM 990, PART VI, LINE 19 DOCUMENTS AVAILABLE TO THE PUBLIC THE CLUB PROVIDES DOCUMENTS TO THE PUBLIC UPON REQUEST. FORM 990, PART IX Included in Management and General other salaries, pension plan accrual and contributions, other employee benefits and payroll taxes are services donated to related and affiliated organizations for administrative support in the following amounts: Civic Consulting Alliance $140,458 Commercial Club Foundation 25,891 Illinois is Broke 25,891 New Schools for Chicago 140,458 --------- 332,698 FORM 990 PART IX LINE 11G DESCRIPTION:BENEFITS SERVICE FEE TOTAL FEES:4260 FORM 990 PART IX LINE 11G DESCRIPTION:CONSULTING TOTAL FEES:311715 FORM 990 PART IX LINE 11G DESCRIPTION:HONORARIUM TOTAL FEES:106500 FORM 990 PART IX LINE 11G DESCRIPTION:TEMPORARY HELP TOTAL FEES:27820 FORM 990 PART IX LINE 11G DESCRIPTION:PROFESSIONAL FEES - OTHER TOTAL FEES:26639 The Commercial Club Foundation 21 S Clark Street Suite 4301 Chicago IL 60603 363406446 Fundraising IL 501(c)(3) 7 Com Club Chi true Civic Consulting Alliance 21 S Clark Street Suite 4301 Chicago IL 60603 450467524 Public Policy IL 501(c)(3) 7 Com Club Chi true Illinois is Broke 21 S Clark Street Suite 4301 Chicago IL 60603 453617415 Public Policy IL 501(c)(4) Com Club Chi true NEW SCHOOLS FOR CHICAGO 21 S CLARK STREET SUITE 4301 CHICAGO IL 60603 830399727 PUBLIC POLICY IL 501(C)(3) 7 NA false false false true true true false false false false false false false true true false true false false The commercial club foundation C 1669661 cost The commercial club foundation D 321883 cost The commercial club foundation N 276221 cost The commercial club foundation O 101192 cost The commercial club foundation Q 233511 cost CIVIC CONSULTING ALLIANCE O 190381 cost CIVIC CONSULTING ALLIANCE Q 602735 Cost ILLINOIS IS BROKE O 268723 Cost ILLINOIS IS BROKE Q 1001376 cost NEW SCHOOLS FOR CHICAGO D 4954 COST NEW SCHOOLS FOR CHICAGO O 190381 COST NEW SCHOOLS FOR CHICAGO Q 322554 COST RELATED ORGANIZATIONS PER THE INSTRUCTIONS OF THE FORM 990, NEW SCHOOLS FOR CHICAGO (NSC) IS NOT CONSIDERED A RELATED ORGANIZATION TO THE COMMERCIAL CLUB OF CHICAGO (THE CLUB) AND ITS RELATED ORGANIZATIONS FOR TAX PURPOSES DUE TO INSUFFICIENT BOARD OVERLAP. HOWEVER, NSC DOES HAVE A FINANCIAL RELATIONSHIP AND DOES SHARE BOARD MEMBERS WITH THE CLUB AND ITS RELATED ORGANIZATIONS. THE CLUB INCLUDES NSC IN THIS SCHEDULE IN ORDER TO REFLECT THEIR STRONG AFFILIATION AND REPORT THE TRANSACTIONS BETWEEN THE ORGANIZATIONS.