2017-05-15T12:56:03-05:00 2016-06-30 410746749 CLIFTONLARSONALLEN LLP 901 N GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2015-07-01 521469926 THE ECONOMIC CLUB OF WASHINGTON DC ECON 2024813260 1156 15TH STREET NW NO 601 WASHINGTON DC 20005 MARY BRADY EXECUTIVE DIRECTOR 2024813260 2017-05-01 1 DAVID TRIMNER CPA P00444482 5712279500 2015 2021-01-29 14:40:06Z MARY BRADY 1156 15TH STREET NW NO 601 WASHINGTON DC 20005 3448463 0 X WWW.ECONOMICCLUB.ORG X 1986 DC TO PROVIDE A FORUM FOR THE STUDY AND DISCUSSION OF TIMELY ECONOMIC, BUSINESS, AND PUBLIC POLICY ISSUES; TO INCREASE REGIONAL UNDERSTANDING OF NATIONAL AND INTERNATIONAL ECONOMIC ISSUES; TO PROMOTE A SENSE OF COMMUNITY AND AN EXCHANGE OF IDEAS AMONG THE NATIONAL CAPITAL REGION'S BUSINESS, PROFESSIONAL,GOVERNMENTAL, AND INTERNATIONAL LEADERSHIP; TO MAKE NONPARTISAN ANALYSES AND DISCUSSIONS OF TIMELY ECONOMIC, BUSINESS, AND POLITICAL ISSUES AVAILABLE TO MEMBERS, GOVERNMENT OFFICIALS, AND THE GENERAL PUBLIC; AND TO SUPPORT EDUCATION INITIATIVES THROUGH ANNUAL DOCTORAL-CANDIDATE FELLOWSHIPS AND SCHOLARSHIP PROGRAM FOR GRADUATING HIGH SCHOOL SENIORS PLANNING TO ATTEND COLLEGE. 43 42 13 42 0 0 2653196 3086711 291896 298710 53074 29649 0 0 2998166 3415070 614020 596820 0 0 764428 893615 0 0 0 1551814 1581990 2930262 3072425 67904 342645 3119445 3782974 1169432 1515044 1950013 2267930 X TO PROVIDE A FORUM FOR THE STUDY AND DISCUSSION OF TIMELY ECONOMIC, BUSINESS, AND POLITICAL ISSUES. TO INCREASE REGIONAL UNDERSTANDING OF NATIONAL AND INTERNATIONAL ECONOMIC ISSUES AMONGST THE REGION'S BUSINESS, PROFESSIONAL, GOVERNMENTAL, AND INTERNATIONAL LEADERSHIP. 0 0 1276851 142150 PROGRAM EVENTS - MONTHLY BREAKFAST, LUNCH, OR DINNER EVENTS PROVIDING REGIONAL BUSINESS LEADERS AND THEIR GUESTS THE OPPORTUNITY TO HEAR FEATURED SPEAKERS AND GAIN A BETTER UNDERSTANDING OF ECONOMIC ISSUES. THESE SIGNATURE EVENTS PROMOTE A GREATER SENSE OF COMMUNITY AMONG THE AREA'S TOP EXECUTIVES, REGIONAL AND NATIONAL GOVERNMENT OFFICIALS, AND THE DIPLOMATIC COMMUNITY. ADDITIONAL EVENTS PROVIDE MEMBERS REGULAR OPPORTUNITY FOR SMALL-GROUP PEER INTERACTION. SEMI-ANNUAL MEMBER-HOSTED DINNERS FOSTER COMMUNITY THROUGH INFORMAL DISCUSSION IN A SOCIAL SETTING, AND REGULAR EXECUTIVE CONVERSATIONS ALLOW SELECT MEMBERS TO GAIN IN-DEPTH KNOWLEDGE ABOUT UPCOMING TRENDS, AND UNIQUE BUSINESS ISSUES AND SOLUTIONS. 786255 596820 SCHOLARSHIP PROGRAMS - COLLEGE SCHOLARSHIPS IN THE AMOUNT OF $10,000 EACH ARE AWARDED TO UP TO 44 WASHINGTON, DC, PUBLIC AND CHARTER HIGH SCHOOL SENIORS BASED ON ACADEMIC ACHIEVEMENT AND OTHER FACTORS. THROUGH A VIGOROUS APPLICATION PROCESS, FELLOWSHIPS IN THE AMOUNT OF $10,000 EACH ARE AWARDED TO UP TO 3 DESERVING AND QUALIFIED DOCTORAL CANDIDATE STUDENTS STUDYING AREAS OF INTEREST TO THE ECONOMIC CLUB OF WASHINGTON, DC, AND WHO ARE CURRENTLY ENROLLED AT COLLEGES AND UNIVERSITIES WITHIN THE CONSORTIUM OF UNIVERSITIES IN THE WASHINGTON METROPOLITAN AREA. 300741 156560 MEMBERSHIP - A PROGRAM DEVISED TO ATTRACT AND RETAIN POTENTIAL MEMBERS WHO CAN CONTRIBUTE TO THE DISCUSSION OF ECONOMIC AND PUBLIC POLICY ISSUES OF IMPORTANCE TO OUR MEMBERS, OUR COMMUNITY, AND THE NATION, AND WHO REFLECT AND EXPAND THE DIVERSITY OF ECONOMIC KNOWLEDGE AND EXPERIENCE REPRESENTED BY THE ORGANIZATION, AND SUPPORT OUR POSITION AS THE PREMIER FORUM FOR LEADERS. 6743 EDUCATION - THE ORGANIZATION DISSEMINATES EDUCATIONAL MATERIAL TO THEGENERAL PUBLIC AND TO EDUCATIONAL INSTITUTIONS ACROSS THE U.S. THROUGHTHE INTERNET AND USPS MAIL. 6743 2370590 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 13 0 13 1 0 0 0 0 0 1 1 0 0 0 0 X 43 42 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 DC X CRAIG LEJEUNE 2024813260 1156 15TH STREET NW SUITE 601 WASHINGTON DC 20005 RUBENSTEIN DAVID M PRESIDENT 2.00 X X 0 0 0 MARY BRADY EXECUTIVE DIRECTOR 48.00 X X 305000 0 49716 WENDELIN WHITE GENERAL COUNSEL 0.50 X X 0 0 0 STU SOLOMON SECRETARY 0.50 X X 0 0 0 CAROL MELTON VICE PRESIDENT 0.50 X X 0 0 0 DAVID GEANACOPOULOS CO-VICE PRESIDENT OF MEMBERSHIP 0.50 X X 0 0 0 DAVID POLLIN CO-VICE PRESIDENT OF NOMINATIONS 0.50 X X 0 0 0 CHRISTOPHER G CAINE CO-VICE PRESIDENT OF MEMBERSHIP 0.50 X X 0 0 0 GARY TABACH VICE PRESIDENT OF AUDIT 0.50 X X 0 0 0 JEFFREY EISENACH VICE PRESIDENT OF EDUCATION 0.50 X X 0 0 0 JOHN LEE VICE PRESIDENT OF FINANCE 0.50 X X 0 0 0 BRIAN KELLY CO-VICE PRESIDENT OF PROGRAMS 0.50 X X 0 0 0 ERIC SPIEGEL CO-VICE PRESIDENT OF PROGRAMS 0.50 X X 0 0 0 DAVE MCCURDY RESOURCE DEVELOPMENT 0.30 X X 0 0 0 GINA ADAMS BOARD MEMBER 0.50 X 0 0 0 MEREDITH BAKER BOARD MEMBER 0.30 X 0 0 0 BRIAN BERRY BOARD MEMBER 0.30 X 0 0 0 KATHERINE BRADLEY BOARD MEMBER 0.30 X 0 0 0 TONI COOK BUSH BOARD MEMBER 0.30 X 0 0 0 TERESA CARLSON BOARD MEMBER 0.30 X 0 0 0 TIMOTHY COUGHLIN BOARD MEMBER 0.30 X 0 0 0 CHRISTOPHER M CRANE BOARD MEMBER 0.30 X 0 0 0 JACK DAVIES BOARD MEMBER 0.30 X 0 0 0 MARGARET DUNNING BOARD MEMBER 0.30 X 0 0 0 JORDAN GOLDSTEIN BOARD MEMBER 0.30 X 0 0 0 BARRY GRANGER BOARD MEMBER 0.30 X 0 0 0 MICHAEL HARRELD BOARD MEMBER 0.30 X 0 0 0 KIM HORN BOARD MEMBER 0.30 X 0 0 0 TIM KEATING BOARD MEMBER 0.30 X 0 0 0 STEVEN KNAPP BOARD MEMBER 0.30 X 0 0 0 DEBRA L LEE BOARD MEMBER 0.30 X 0 0 0 KATHLEEN MATTHEWS BOARD MEMBER 0.30 X 0 0 0 ROBERT MILKOVICH BOARD MEMBER 0.30 X 0 0 0 SUSAN MOLINARI BOARD MEMBER 0.30 X 0 0 0 CHERYL MOORE BOARD MEMBER 0.30 X 0 0 0 GEOFF MORRELL BOARD MEMBER 0.30 X 0 0 0 KURT NEWMAN BOARD MEMBER 0.30 X 0 0 0 LINDA RABBITT BOARD MEMBER 0.30 X 0 0 0 TODD RICH BOARD MEMBER 0.30 X 0 0 0 KENNTH SAMET BOARD MEMBER 0.30 X 0 0 0 JONATHAN WITTER BOARD MEMBER 0.30 X 0 0 0 CANDIDA WOLFF BOARD MEMBER 0.30 X 0 0 0 JEFF WOOD BOARD MEMBER 0.30 X 0 0 0 305000 0 49716 1 0 1 0 PRG PO BOX 5116 NEW YORK NY 10087 AUDIO VISUAL EVENT PRODUCTION 215916 URBAN ALLIANCE 2030 Q STREET NW WASHINGTON DC 20009 INTERNSHIP PROGRAM FACILITATORS 136000 2 1287998 1798713 3086711 MEETINGS REVENUE 900099 156560 156560 MEMBER DUES 900099 142150 142150 298710 17729 17729 45313 33393 11920 11920 11920 3415070 298710 0 29649 596820 596820 345299 258974 86325 415719 310991 104728 26686 19968 6718 61244 45817 15427 44667 33423 11244 77592 77592 7437 7437 86568 18200 68368 47026 40337 6689 139880 44781 95099 51655 2162 49493 132726 132726 874383 857874 16509 7984 7984 5087 5087 SCHOLARSHIP STAFF & MAT 109950 114050 -4100 MEMBERSHIP DUES & SUBSC 22301 10515 11786 STAFF ASSISTANCE 19401 16678 2723 3072425 2370590 701835 0 1938630 2044012 330569 782000 30618 51772 55885 9350 54519 46535 765109 858655 3119445 3782974 167632 381599 1001800 1133445 1169432 1515044 X 1609013 1869430 341000 398500 1950013 2267930 3119445 3782974 342645 -24728 0 X X 0 1 X 1 0 X 2010102 1881602 2405196 2653196 3086711 12036807 2010102 1881602 2405196 2653196 3086711 12036807 1976112 10060695 13485 12074 13262 14224 17729 70774 12107581 1909270 0.83090 0.84840 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 55885 9350 46535 46535 X 3397842 -24728 7500 -17228 3415070 0 3415070 3079925 7500 7500 3072425 0 3072425 PART X, LINE 2: THE CLUB IS EXEMPT, EXCEPT FOR UNRELATED BUSINESS INCOME,FROM TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A)(1) OF THE IRC. AS OF JUNE 30, 2016, THE CLUB DID NOT HAVE ANY REVENUE OR EXPENSES FROM UNRELATED BUSINESS ACTIVITIES AND THEREFORE, DID NOT INCUR ANY RELATED INCOME TAXES. MANAGEMENT BELIEVES THAT IT HAS NO MATERIAL UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION UNDER THE ACCOUNTING CODIFICATION GUIDANCE. 1 FELLOWSHIP AWARD 2 20000 RUBENSTEIN SCHOLARSHIP 48 422500 COMMUNITY GRANTS/ INTERNSHIPS 20 154320 PART I, LINE 2: FELLOWSHIPS ARE PRESENTED TO INDIVIDUAL WINNERS BASED ON RECOMMENDATIONS PROVIDED BY A THIRD PARTY REVIEWER BASED ON THE GUIDELINES IN THE FELLOWSHIP APPLICATION. FUNDS ARE DISTRIBUTED BY THE CONSORTIUM OF UNIVERSITIES AND RELEASED IN PAYMENTS BASED ON TARGETED ACHIEVEMENTS. THE ORGANIZATION ALSO PRESENTS SCHOLARSHIPS TO STUDENTS PLANNING TO ATTEND COLLEGE. THE SCHOLARSHIP IS DISPERSED DIRECTLY TO THE UNIVERSITY IN THE STUDENT'S NAME ONLY AFTER ADMISSION TO THE UNIVERSITY HAS BEEN CONFIRMED. THE TOTAL SCHOLARSHIP IS RELEASED IN TWO PAYMENTS PAYABLE TO THE UNIVERSITY FOR THE STUDENT'S BENEFIT, IN THE FALL AND WINTER. ECONOMIC CLUB SCHOLARS ATTENDING COLLEGE ARE PROVIDED INTERNSHIP OPPORTUNITIES. THE CLUB PARTNERS WITH URBAN ALLIANCE TO FUND AND PROVIDE JOB TRAINING AND PLACEMENT. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 MARY BRADY EXECUTIVE DIRECTOR 285000 0 20000 0 0 0 34450 0 15266 0 354716 0 0 0 PART I, LINE 1A THE ORGANIZATION PAYS FOR THE EXECUTIVE DIRECTOR'S UNIVERSITY CLUB MEMBERSHIP. IT IS NOT INCLUDED IN MARY'S COMPENSATION AS THE ORGANIZATION BELIEVES IT'S AN ORDINARY AND NECESSARY BUSINESS EXPENSE FOR MEMBERSHIP RECRUITMENT AND ENGAGEMENT. LINDA LARSON FAMILY MEMBER OF OFFICER 48288 LINDA LARSON, SISTER TO MARY BRADY, PERFORMS CONTRACT WORK AS SCHOLARSHIP COORDINATOR FOR THE ORGANIZATION. THE SCHOLARSHIP COORDINATOR'S COMPENSATION IS REVIEWED AND APPROVED BY MEMBERS OF THE BOARD ALSO SERVING ON THE ECONOMIC CLUB'S AUDIT COMMITTEE. 0 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE CONSISTS OF THE PRESIDENT, FIRST VICE PRESIDENT, EXECUTIVE DIRECTOR, SECRETARY, GENERAL COUNSEL, AND THE VICE PRESIDENTS WHO ARE CHAIRS OR CO-CHAIRS OF THE AUDIT AND COMPLIANCE, EDUCATION,TASK FORCES, FINANCE, MEMBERSHIP, NOMINATING AND PROGRAMS STANDING COMMITTEES. THE EXECUTIVE COMMITTEE HAS THE FULL MANAGERIAL AND OPERATIONAL POWER AND AUTHORITY OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 2 DAVID M RUBENSTEIN IS A MEMBER OF THE CARLYLE GROUP. FORM 990, PART VI, SECTION A, LINE 6 THERE IS NO DIFFERENTIATION IN CLASSES OF MEMBERS. HOWEVER, MEMBERS MAY PARTICIPATE IN THE ORGANIZATION'S GOVERNANCE BY SERVING ON A COMMITTEE. EACH COMMITTEE REPORTS TO THE BOARD OF DIRECTORS, THERBY GIVING ALL MEMBERS WHO WISH TO PARTICIPATE THE OPPORTUNITY TO INFLUENCE THE ORGANIZATION'S GOVERNANCE. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY (THE BOARD) MANAGES THE BUSINESS OF THE ECONOMIC CLUB. THE BOARD CONSISTS OF 43 DIRECTORS, 33 OF WHOM ARE ELECTED BY THE MEMBERS OF THE CLUB, 1 OF WHOM IS THE SECRETARY OF THE CLUB, 1 OF WHOM IS THE EXECUTIVE DIRECTOR. THE PRESIDENT IS ENTITLED, BUT NOT OBLIGATED, TO APPOINT ADDITIONAL DIRECTORS TO FILL THE REMAINING 8 SEATS. ALL MEMBERS OF THE ECONOMIC CLUB ARE OF ONE CLASS, AND EACH MEMBER OF THE CLUB IS ENTITLED TO ONE VOTE FOR THE BOARD OF DIRECTORS AT THE ANNUAL MEETING OF MEMBERS. THE ORGANIZATION HAS MEMBERS WHO MAY SERVE ON A NOMINATING COMMITTEE. THE NOMINATING COMMITTEE CO-CHAIRMEN AND THE COMMITTEE MEMBERS PROPOSE CANDIDATES TO SERVE ON THE GOVERNING BOARD OF DIRECTORS. THE BOARD APPROVES THE NOMINEES AND THE MEMBERS AT THE ANNUAL MEETING GIVE FINAL APPROVAL. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY THE AUDITOR, AND REVIEWED BY THE VICE PRESIDENT OF AUDIT AND THE FINANCE COMMITTEE PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH OFFICER, DIRECTOR, AND KEY EMPLOYEE (HENCEFORTH ""OFFICER"") SHALL DISCLOSE TO THE ECONOMIC CLUB ANY PERSONAL INTEREST WHICH HE OR SHE MAY HAVE IN ANY MATTER PENDING BEFORE THE CLUB AND SHALL REFRAIN FROM PARTICIPATION IN ANY DECISION ON SUCH MATTER. UPON OR BEFORE ELECTION, HIRING, OR APPOINTMENT, THE OFFICER WILL MAKE A FULL, WRITTEN DISCLOSURE OF INTERESTS, RELATIONSHIPS, AND HOLDINGS THAT COULD POTENTIALLY RESULT IN A CONFLICT OF INTEREST. THIS WRITTEN DISCLOSURE IS KEPT ON FILE AND THE OFFICER IS REQUIRED TO UPDATE IT AS CHANGES REQUIRE. IN THE COURSE OF MEETINGS OR ACTIVITIES, OFFICERS WILL DISCLOSE ANY INTERESTS IN A TRANSACTION OR DECISION WHERE THEY (INCLUDING THEIR BUSINESS OR OTHER NONPROFIT AFFILIATIONS) SHALL, DIRECTLY OR INDIRECTLY, DERIVE ANY PROFIT OR GAIN. AFTER DISCLOSURE, THE OFFICER IS REQUIRED TO LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT THAT INVOLVES THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION IS APPROVED BY THE VP OF FINANCE AND THEN APPROVED BY THE PRESIDENT AND EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE MADE AVAILABLE UPON REQUEST TO THE ORGANIZATION. FORM 990, PART XII, LINE 2C: THE PROCESS THE COMMITTEE USES FOR OVERSEEING THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF THE INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM PRIOR YEAR.