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 453617415 ILLINOIS IS BROKE % MS CORDELIA C MEYER ILLI 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 36941220173535000003 2017-12-19 P 2424C58F8124CD092F2AF1325797E03264D96820 41914840F4E15E9E9B073D3B501193633E1CC56C 2016 2018-03-14 21:41:22Z KELLY R WELSH 21 S CLARK STREET SUITE 4301 CHICAGO IL 60603 1001376 false X WWW.LOLILLINOIS.COM X 2011 IL ILLINOIS IS BROKE (IIB), WORKS TO EDUCATE THE PUBLIC ABOUT IL'S TROUBLED JOBS CLIMATE AND FINANCIAL CONDITION, THE NEED FOR BUDGET AND TAX REFORM, AND TO SUPPORT LEGISLATION. 3 2 4 4 0 0 0 176199 1001376 0 0 0 0 176199 1001376 0 0 0 0 612 242832 0 0 0 175587 758544 176199 1001376 0 119 732 119 732 0 0 X SEE NOTE O true false 810774 0 829100 LOL Illinois - Over the last year, IIB has focused on Illinois troubled fiscal situation and the fact that the State did not have a budget for over two years. Through the "LOL Illinois: It is Not a Laughing Matter" campaign, IIB drew attention to the lack of a State budget, its impact on individuals and communities, and encouraged residents to contact the States leaders and their legislators to pass a budget. The project garnered significant press coverage. In the end, a budget was passed on July 7th 2017. 103076 0 103076 State Financial Framework - In May of this year, IIB released a report entitled, "Bringing Illinois Back: A Framework for Our Future." This document, the result of the deliberations of the Civic Committees Tax Policy Task Force, provided a comprehensive plan to drive economic growth for the State and economic opportunity for its people. 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. 69200 0 69200 Legislative Program - IIB supports legislative efforts to improve the jobs and fiscal climate of the State of Illinois. 983050 false false false true false false false false false false false false true false 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 false false true 0 0 true 4 true false false false false true true false X 3 2 false false false false true true false true false false true true true true true true true true false false false X MS CORDELIA C MEYER 3128531200 21 S CLARK STREET SUITE 4301 CHICAGO IL 60603 Tyrone C Fahner Director/President (Thru 3/17) 12.0 28.0 X X 136366 318187 34375 Kelly R Welsh Director/President (From 4/17) 4.0 36.0 X X 0 0 0 E Scott Santi Director/Chairman 1.0 3.0 X X 0 0 0 Frederick H Wadell Director/Vice Chairman 1.0 3.0 X 0 0 0 Scott Swanson Treasurer 1.0 3.0 X 0 0 0 James Reynolds Jr Secretary 1.0 3.0 X 0 0 0 Cordelia C Meyer Executive Vice President 8.0 32.0 X 66415 265659 31059 KIRSTEN CARROLL VP, PUBLIC POLICY 4.0 36.0 X 21653 194877 37675 224434 778723 103109 1 false true false Res Publica Group LLC 444 North Michigan Ave Suite 3600 CHICAGO IL 60611 Public Relations 751159 1 0 AFFILIATE PROGRAM SUPPORT 900099 1001376 1001376 1001376 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1001376 1001376 0 0 0 0 193427 193427 0 34170 34170 1065 1065 4325 4325 9845 9845 0 0 15343 15343 69200 69200 0 0 666844 666844 0 0 0 0 0 0 0 0 0 0 0 1407 1407 . 0 . 0 . 0 . 0 5750 4174 1576 1001376 983050 18326 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 119 117 0 0 0 0 0 0 0 0 0 0 0 615 119 732 0 732 0 0 0 0 0 0 0 0 0 0 0 0 0 0 119 0 119 732 X 0 0 0 0 0 0 0 0 119 732 0 X false true X true false true true false DUE FROM AFFILIATE: CIVIC COM. 615 615 0 0 X 1111917 110541 110541 1001376 1001376 1111917 110541 110541 1001376 1001376 SCHEDULE D PART X, LINE 2 FIN 48 (ASC 740) FOOTNOTE IIB WAS ORGANIZED AND INCORPORATED IN ILLINOIS AS A NOT-FOR-PROFIT ORGANIZATION IN OCTOBER 2011. IIB HAS NOT YET FILED FOR A FAVORABLE DETERMINATION FROM THE INTERNAL REVENUE SERVICE STATING THAT IT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE (IRC) OF 1986, AS AMENDED, EXCEPT FOR INCOME TAXES PERTAINING TO UNRELATED BUSINESS INCOME. HOWEVER, IIB AS A 501(C)(4) ORGANIZATION, AND ORGANIZED PRIOR TO JANUARY 4, 2013, IS NOT REQUIRED TO APPLY FOR A FORMAL DETERMINATION LETTER. PURSUANT TO THESE REGULATIONS, IIB MAY CONDUCT ITSELF AS A TAX-EXEMPT ORGANIZATION PURSUANT TO THE PROVISIONS OF SECTION 501(C)(4) OF THE IRC OF 1986, AS AMENDED. IIB, HOWEVER, INTENDS TO SEEK A FORMAL DETERMINATION. 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 TAX POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE 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. false false false false false false false false false Tyrone C Fahner Director/President (Thru 3/17) 134067 312823 0 0 2299 5364 4191 9778 6122 14284 146679 342249 0 0 Cordelia C Meyer Executive Vice President 65275 261100 0 0 1140 4559 2650 10600 3562 14247 72627 290506 0 0 KIRSTEN CARROLL VP, PUBLIC POLICY 21545 193906 0 0 108 971 1102 9917 2666 23990 25421 228784 0 0 SCHEDULE J, PART I, LINE 3 ESTABLISH COMPENSATION IIB EMPLOYEES ARE COMPENSATED THROUGH A COMMON PAYMASTER BY A RELATED ORGANIZATION. IIB REIMBURSES THE RELATED ORGANIZATION FOR ITS ALLOCATED SALARY EXEPENSE. THE RELATED ORGANIZATION USED THE FOLLOWING TO ESTABLISH COMPENSATION FOR ALL EMPLOYEES: A COMPENSATION COMMITTEE, AN INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEYS, AND APPROVAL BY THE BOARD AND COMPENSATION COMMITTEE. FORM 990, PART III, LINE 1 ORGANIZATION'S MISSION ILLINOIS IS BROKE (IIB) WAS ORGANIZED ON OCTOBER 6, 2011, BY THE CIVIC COMMITTEE OF THE COMMERCIAL CLUB OF CHICAGO (THE CIVIC COMMITTEE). IIB IS CHARGED WITH EDUCATING THE GENERAL PUBLIC ABOUT THE TROUBLED JOBS CLIMATE AND FINANCIAL CONDITION OF THE STATE OF ILLINOIS, THE NEED FOR BUDGET AND TAX REFORM AND TO SUPPORT LEGISLATION TO ADDRESS THESE ISSUES. IIBS CAMPAIGNS HAVE GARNERED ATTENTION IN THE PRESS, AND THE STATES FINANCIAL CONDITION HAS BECOME A COMMON TOPIC OF PUBLIC DISCUSSION. IN ADDITION, MEMBERS OF THE CIVIC COMMITTEE AND STAFF HAVE MADE PRESENTATIONS ON THE NEED FOR STATE BUDGET REFORM TO BUSINESS, CIVIC, COMMUNITY AND GOVERNMENTAL GROUPS. Form 990, Part III, Line 2 New Program Service See Form 990, Part III, Line 4a. FORM 990, PART IV, LINE 5 MEMBERSHIP DUES ILLINOIS IS BROKE HAS NOT RECEIVED ANY MEMBERSHIP DUES IN THE CURRENT YEAR. Form 990, Part V, Line 2a Number of Employees on Form W-3 The number of employees reported (4) corresponds to IIB employees that are compensated through a common paymaster by a related organization in who all wage/W-3 reporting is provided through. IIB reimburses the related organization for its allocated salary expense. FORM 990, PART VI, LINE 6 MEMBERS OR STOCKHOLDERS ILLINOIS IS BROKE IS A MEMBERSHIP ORGANIZATION. MEMBERS NOMINATE AND VOTE ON THE ELECTION OF GOVERNING BOARD MEMBERS. THE ELECTED GOVERNING BOARD MEMBERS EMPLOY A PRESIDENT WHO THEN MANAGES THE DAY TO DAY OPERATIONS OF THE ORGANIZATION. FORM 990, PART VI, LINE 7A MEMBERS WHO MAY ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY ILLINOIS IS BROKE IS A MEMBERSHIP ORGANIZATION. MEMBERS NOMINATE AND VOTE ON THE ELECTION OF GOVERNING BOARD MEMBERS. FORM 990, PART VI, 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 COMMERCIAL CLUB'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 IIB EMPLOYEES ARE COMPENSATED THROUGH A COMMON PAYMASTER BY A RELATED ORGANIZATION. IIB REIMBURSES THE RELATED ORGANIZATION FOR ITS ALLOCATED SALARY EXEPENSE. THE RELATED ORGANIZATION USED THE FOLLOWING TO ESTABLISH COMPENSATION FOR ALL EMPLOYEES: A COMPENSATION COMMITTEE, AN INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEYS, 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 IIB PROVIDES DOCUMENTS TO THE PUBLIC UPON REQUEST. FORM 990 PART IX LINE 11G DESCRIPTION:PUBLIC RELATIONS TOTAL FEES:666844 THE COMMERCIAL CLUB FOUNDATION 21 S CLARK STREET SUITE 4301 CHICAGO IL 60603 363406446 FUNDRAISING IL 501(C)(3) 07 COM CLUB CHI false CIVIC CONSULTING ALLIANCE 21 S CLARK STREET SUITE 4301 CHICAGO IL 60603 450467524 PUBLIC POLICY IL 501(C)(3) 07 COM CLUB CHI false THE COMMERCIAL CLUB OF CHICAGO 21 S CLARK STREET SUITE 4301 CHICAGO IL 60603 362197847 MEMBERSHIP IL 501(C)(4) NA false false false true true false false false false false false false false false false true true false false false