2015-11-13T15:25:57-06:00 2014-12-31 362938874 OSTROW REISIN BERK & ABRAMS LTD 455 N CITYFRONT PLAZA DR SUITE 1500 CHICAGO IL 60611 990 2014-01-01 364313685 WORLD BUSINESS CHICAGO WORL 3125530500 177 NORTH STATE STREET NO 500 CHICAGO IL 60601 JEFF MALEHORN PRESIDENT & CEO 3125530500 2015-11-12 1 LARRY SOPHIAN P00079652 3126707444 2015-11-12 2014 2016-04-25 22:37:26Z JEFF MALEHORN 177 NORTH STATE STREET NO 500 CHICAGO IL 60601 8115312 0 X WWW.WORLDBUSINESSCHICAGO.COM X 1999 IL WORLD BUSINESS CHICAGO (WBC) IS AN ECONOMIC DEVELOPMENT OFFICE, COORDINATING BUSINESS RETENTION, ATTRACTION AND EXPANSION EFFORTS IN ORDER TO SPUR AND ACCELERATE ECONOMIC GROWTH. WBC RAISES CHICAGO'S PROFILE AS A PREMIER BUSINESS DESTINATION AND SERVES AS A RESOURCE FOR COMPANIES. 76 75 43 76 0 0 4343521 7535601 0 300000 362 182 211468 186079 4555351 8021862 8904769 700000 0 0 2650292 3559130 0 0 462419 2617382 4010378 14172443 8269508 -9617092 -247646 8894801 8969936 357953 680734 8536848 8289202 X WORLD BUSINESS CHICAGO (WBC) DRIVES REGIONAL ECONOMIC GROWTH. WBC COLLABORATES TO CREATE JOBS, CULTIVATE TALENT, AND PUT CHICAGO AT THE FOREFRONT OF THE GLOBAL ECONOMY. A UNIQUE PUBLIC-PRIVATE PARTNERSHIP, WBC ENGAGES BUSINESS AND COMMUNITY LEADERS TO ADVANCE CHICAGO'S PLAN FOR ECONOMIC GROWTH AND JOBS. 0 0 6206144 300000 WORLD BUSINESS CHICAGO (WBC) DRIVES REGIONAL ECONOMIC GROWTH. WBC COLLABORATES TO CREATE JOBS, CULTIVATE TALENT, AND PUT CHICAGO AT THE FOREFRONT OF THE GLOBAL ECONOMY. A UNIQUE PUBLIC-PRIVATE PARTNERSHIP, WBC ENGAGES BUSINESS AND COMMUNITY LEADERS TO ADVANCE CHICAGO'S PLAN FOR ECONOMIC GROWTH AND JOBS. 700000 700000 NORTH ATLANTIC TRADE ORGANIZATION EVENT - WBC WAS RESPONSIBLE FOR THE ORGANIZATION AND PRODUCTION OF CERTAIN EVENTS IN CONNECTION WITH MEETINGS CONDUCTED BY THE NORTH ATLANTIC TREATY ORGANIZATION HELD IN CHICAGO IN MAY 2012. THE CONFERENCE WAS A ONE-TIME EVENT FOR WBC AND ALL SUBSTANTIAL PROGRAM SERVICES WERE COMPLETED DURING 2012. THERE ARE REMAINING UNUSED FUNDS THAT ARE TO BE DONATED TO VARIOUS LOCAL ENTITIES UNDER WBC'S PROGRAM CALLED "THE NATO LEGACY". THERE WERE SUCH DONATIONS MADE DURING 2013. 6906144 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 1 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 13 0 43 1 0 0 0 0 0 1 1 0 0 0 0 X 76 75 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 IL X CARRIE SIMMONS 3125530500 177 N STATE ST - 500 CHICAGO IL 60601 RAHM EMANUEL CHAIRMAN 1.00 X 0 0 0 MICHAEL SACKS VICE CHAIRMAN 1.00 X 0 0 0 JIM ABRAMS DIRECTOR 1.00 X 0 0 0 ANTHONY K ANDERSON DIRECTOR 1.00 X 0 0 0 JEFF ARONIN DIRECTOR 1.00 X 0 0 0 TONY BOUCHARD DIRECTOR 1.00 X 0 0 0 MARSHALL BOUTON DIRECTOR 1.00 X 0 0 0 BILL BRODSKY DIRECTOR 1.00 X 0 0 0 GREG BROWN DIRECTOR 1.00 X 0 0 0 JOHN BUCK DIRECTOR 1.00 X 0 0 0 DEBRA CAFARO DIRECTOR 1.00 X 0 0 0 PATRICK CANNING DIRECTOR 1.00 X 0 0 0 GREG CASE DIRECTOR 1.00 X 0 0 0 CHRISTOPHER CRANE DIRECTOR 1.00 X 0 0 0 JAMES CROWN DIRECTOR 1.00 X 0 0 0 DEBORAH DEHAAS DIRECTOR 1.00 X 0 0 0 MARY DILLON DIRECTOR 1.00 X 0 0 0 CRAIG J DUCHOSSOIS DIRECTOR 1.00 X 0 0 0 DONALD EDWARDS DIRECTOR 1.00 X 0 0 0 MARK FURLONG DIRECTOR 1.00 X 0 0 0 MATTHEW GIBSON DIRECTOR 1.00 X 0 0 0 ILENE GORDON DIRECTOR 1.00 X 0 0 0 ANTONIO GRACIAS DIRECTOR 1.00 X 0 0 0 DANIEL M HAMBURGER DIRECTOR 1.00 X 0 0 0 DEAN HARRISON DIRECTOR 1.00 X 0 0 0 LORI HEALEY DIRECTOR 1.00 X 0 0 0 PATRICIA HEMINGWAY HALL DIRECTOR 1.00 X 0 0 0 MELLODY HOBSON DIRECTOR 1.00 X 0 0 0 MARK S HOPLAMAZIAN DIRECTOR 1.00 X 0 0 0 MITCH KREBS DIRECTOR 1.00 X 0 0 0 ERIC LEFKOFSKY DIRECTOR 1.00 X 0 0 0 AYLWIN LEWIS DIRECTOR 1.00 X 0 0 0 SAM MENCOFF DIRECTOR 1.00 X 0 0 0 MICHAEL H MOSKOW DIRECTOR 1.00 X 0 0 0 THOMAS F MOTAMED DIRECTOR 1.00 X 0 0 0 WILLIAM A OSBORN DIRECTOR 1.00 X 0 0 0 TONY PARASIDA DIRECTOR 1.00 X 0 0 0 HANK PAULSON DIRECTOR 1.00 X 0 0 0 JOSE LUIS PRADO DIRECTOR 1.00 X 0 0 0 JOHN PRATT DIRECTOR 1.00 X 0 0 0 RICHARD PRICE DIRECTOR 1.00 X 0 0 0 JB PRITZKER DIRECTOR 1.00 X 0 0 0 JOHN RAU DIRECTOR 1.00 X 0 0 0 JIM REYNOLDS DIRECTOR 1.00 X 0 0 0 LARRY RICHMAN DIRECTOR 1.00 X 0 0 0 DESIREE ROGERS DIRECTOR 1.00 X 0 0 0 PAT RYAN JR DIRECTOR 1.00 X 0 0 0 MUNEER A SATTER DIRECTOR 1.00 X 0 0 0 SAMUEL SCOTT DIRECTOR 1.00 X 0 0 0 JAMES SKOGSBERGH DIRECTOR 1.00 X 0 0 0 JEFFERY SMISEK DIRECTOR 1.00 X 0 0 0 RUSSELL STOKES DIRECTOR 1.00 X 0 0 0 RICHARD SYKES DIRECTOR 1.00 X 0 0 0 DON THOMPSON DIRECTOR 1.00 X 0 0 0 GLENN TILTON DIRECTOR 1.00 X 0 0 0 CHARLES A TRIBETT III DIRECTOR 1.00 X 0 0 0 BYRON TROTT DIRECTOR 1.00 X 0 0 0 GREGORY D WASSON DIRECTOR 1.00 X 0 0 0 KEITH WILLIAMS DIRECTOR 1.00 X 0 0 0 THOMAS J WILSON DIRECTOR 1.00 X 0 0 0 RITA ATHAS DIRECTOR 1.00 X 60000 0 0 ANDREW APPEL DIRECTOR 1.00 X 0 0 0 MELISSA BEAN DIRECTOR 1.00 X 0 0 0 SANDRA BRUCE DIRECTOR 1.00 X 0 0 0 MARTIN CABRERA DIRECTOR 1.00 X 0 0 0 MARGO GEORGIADIS DIRECTOR 1.00 X 0 0 0 LAMAR JOHNSON DIRECTOR 1.00 X 0 0 0 STEVE KERSTEN DIRECTOR 1.00 X 0 0 0 DAN LEWIN DIRECTOR 1.00 X 0 0 0 PIN NI DIRECTOR 1.00 X 0 0 0 FRANK PTAK DIRECTOR 1.00 X 0 0 0 KIMBERLY SIMIOS DIRECTOR 1.00 X 0 0 0 J DOUGLAS SPARKMAN DIRECTOR 1.00 X 0 0 0 BYRON SPRUELL DIRECTOR 1.00 X 0 0 0 ROBERT SULLIVAN DIRECTOR 1.00 X 0 0 0 PATRICIA WOERTZ DIRECTOR 1.00 X 0 0 0 JEFF MALEHORN PRESIDENT & CEO 45.00 X 420460 0 25482 DENNIS VICCHIARELLI TREASURER/MANAGING DIR 45.00 X 130374 0 9604 CARRIE SIMMONS SECRETARY/DIR OF OPERATIONS 40.00 X 113904 0 18297 CAROLYN PHILLIPS DIR OF STRATEGIC INITIATIVES 40.00 X 147595 0 9689 LORI BUSH DIR OF ECONOMIC DEV 40.00 X 128252 0 8408 LEROY ALLALA EX DIR CSCI 40.00 X 108780 0 6138 PHILLIP NEVELS EX DIR CHICAGONEXT 40.00 X 111086 0 14232 WENDI TAYLOR NATION CHIEF MARKETING OFFICER 40.00 X 144424 0 7464 1364875 0 99314 8 0 1 0 NEXT STREET FINANCIAL 184 DUDLEY STREET SUITE 200 ROXBURY MA 02119 SUPPLIER DEVELOPMENT 390000 MCKINSEY & CO INC 300 EAST RANDOLPH STREET SUITE 310 CHICAGO IL 60601 STRATEGIC MANAGEMENT 205100 DAVID BOUL 845 W WOLFRAM STREET CHICAGO IL 60657 STRATEGY CONSULTANT 182000 3 790450 1528643 5216508 7535601 CASE REVENUE 541900 300000 300000 300000 182 182 93450 790450 93450 0 MISCELLANEOUS REVENUE 900099 186079 186079 186079 8021862 300000 0 186261 X 700000 700000 718121 566476 120745 30900 2192661 1723936 374315 94410 31583 24912 5308 1363 415654 327867 69870 17917 201111 164365 28193 8553 42000 35042 6118 840 1106560 1003418 52020 51122 256276 244386 11890 69279 46412 20243 2624 6673 117 6556 333772 278168 41641 13963 50601 31438 19163 979688 933172 46516 66367 52169 10804 3394 62333 8249 53705 379 BAD DEBT 325000 325000 OTHER FUNDRAISING 236954 236954 CHICAGO SISTER CITIES 221398 221398 CHICAGO CHINA OFFICE 89037 87670 1367 164440 131949 32491 8269508 6906144 900945 462419 6027455 5122631 1286427 836599 1400000 2605829 22230 15192 46522 47698 1300847 958860 112167 341987 8894801 8969936 269879 587609 88074 93125 357953 680734 X 4060539 3723078 4476309 4566124 8536848 8289202 8894801 8969936 -247646 0 X 0 1 X 1 0 X 10996848 27176924 22533196 4343521 7535601 72586090 10996848 27176924 22533196 4343521 7535601 72586090 7343872 65242218 2122 2196 2715 362 182 7577 63760 104250 99084 211468 186079 664641 73258308 300000 0.89060 0.88460 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE - 2010 AMOUNT: $ 63,760. 2011 AMOUNT: $ 104,250. 2012 AMOUNT: $ 99,084. 2013 AMOUNT: $ 211,468. 2014 AMOUNT: $ 186,079. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 58667 11837 46830 453342 351296 102046 788838 595727 193111 341987 DEFERRED RENT 93125 93125 X 9401861 1379999 1379999 8021862 0 8021862 9649507 1379999 1379999 8269508 0 8269508 PART X, LINE 2: WBC IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. IN ADDITION, THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT WBC IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE CODE. HOWEVER, EXEMPT ORGANIZATIONS MAY BE SUBJECT TO INCOME TAX ON ANY UNRELATED BUSINESS INCOME. DURING 2014 AND 2013, WBC DID NOT HAVE ANY UNRELATED BUSINESS INCOME. WBC HAS ADOPTED THE REQUIREMENTS FOR ACCOUNTING FOR UNCERTAIN TAX POSITIONS AND MANAGEMENT HAS DETERMINED THAT WBC WAS NOT REQUIRED TO RECORD A LIABILITY RELATED TO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2014 AND 2013. FEDERAL AND STATE TAX AND/OR INFORMATION RETURNS OF WBC ARE SUBJECT TO EXAMINATIONS BY THE INTERNAL REVENUE SERVICE AND STATE TAXING AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THE RETURNS WERE FILED. MANAGEMENT BELIEVES THAT WBC IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY TAXING AUTHORITIES FOR YEARS ENDED PRIOR TO DECEMBER 31, 2011. CHICAGO CONSULAR CORPS GALA 883900 790450 93450 93450 883900 790450 93450 93450 93450 0 1 BOARD OF EDUCATION - CITY OF CHICAGO 42 WEST MADISON 2ND FLOOR CHICAGO IL 60602 366005821 115 GOV'T UNIT 700000 THESE FUNDS WERE DISBURSED TO SUPPORT THE INSTALLATION OF A TURF FIELD AT FRAZIER ELEMENTARY. THESE FUNDS WERE DIRECTED AS A PART OF THE NATO LEGACY PROGRAM. 1 PART I, LINE 2: ALL FUNDS THAT ARE DISBURSED AS PART OF THE NATO LEGACY PROGRAM ARE DIRECTED BY THE CITY OF CHICAGO AND ARE NOT DETERMINED BY THE STAFF OR BOARD OF DIRECTORS AT WORLD BUSINESS CHICAGO. X 0 1 X X X X 0 0 0 0 0 0 0 0 0 JEFF MALEHORN PRESIDENT & CEO 370460 0 50000 0 0 0 11250 0 14232 0 445942 0 0 0 CAROLYN PHILLIPS DIR OF STRATEGIC INITIATIVES 147595 0 0 0 0 0 4464 0 5225 0 157284 0 0 0 WENDI TAYLOR NATION CHIEF MARKETING OFFICER 144424 0 0 0 0 0 0 0 7464 0 151888 0 0 0 PART I, LINE 1A THE ORGANIZATION'S PRESIDENT FLEW FIRST CLASS ON ONE BUSINESS TRIP DURING 2014. PART I, LINE 1B WHILE NO WRITTEN POLICY WAS IN PLACE IN 2014, THE ORGANIZATION'S PRESIDENT APPROVED ALL TRAVEL AND THE DIRECTOR OF OPERATIONS SET VERBAL GUIDELINES. THE ACCOUNTING CLERK PREPARED A TRAVEL REPORT FOR REVIEW OF THE ORGANIZATION'S TRAVEL TO THE PRESIDENT. BY YEAR END 2015, WORLD BUSINESS CHICAGO WILL HAVE A WRITTEN TRAVEL EXPENSE REIMBURSEMENT POLICY. FORM 990, PART VI, SECTION B, LINE 11 THE WORLD BUSINESS CHICAGO AUDIT COMMITTEE REVIEWS AND RECOMMENDS APPROVAL OF THE FORM 990. THE BOARD VICE CHAIRMAN GIVES THE FINAL APPROVAL AND A COPY IS DISTRIBUTED TO ALL BOARD MEMBERS PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C WORLD BUSINESS CHICAGO HAS A WRITTEN CONFLICT OF INTEREST POLICY. EACH YEAR, BOARD MEMBERS ARE ASKED TO DISCLOSE ANY CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 DURING 2009, A MEMBER OF THE EXECUTIVE COMMITTEE RESEARCHED THE SALARIES AT ORGANIZATIONS WITH SIMILAR SIZE AND SCOPE TO DETERMINE IF CURRENT SALARIES ARE REASONABLE. IN FUTURE COMPENSATION ADJUSTMENTS, THE PRESIDENT WILL REVIEW AND APPROVE THE SALARIES OF ALL STAFF MEMBERS. THE EXECUTIVE COMMITTEE WILL REVIEW AND APPROVE ANY ADJUSTMENTS TO THE PRESIDENT'S SALARY. FORM 990, PART VI, SECTION C, LINE 19 WORLD BUSINESS CHICAGO (WBC) ADOPTED A TRANSPARENCY POLICY WHICH STATES THAT ANNUALLY, WBC WILL MAKE PUBLIC A COPY OF ITS AUDITED GAAP FINANCIAL STATEMENTS. WBC DOES NOT MAKE ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC BEYOND THE INFORMATION DISCLOSED ON WWW.GUIDESTAR.ORG. THE WBC WEBSITE PROVIDES ACCESS TO WBC'S ETHICS POLICIES (TRANSPARENCY / DISCLOSURE POLICY, CONFLICT OF INTEREST, POLICY ON ADVOCACY). WBC ALSO PUBLISHES AN ANNUAL REPORT ON ITS WEBSITE WHICH CONTAINS FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINES 13 & 14 - POLICIES: BY NOVEMBER 1, 2015, THE ORGANIZATION HAS IMPLEMENTED A WRITTEN WHISTLEBLOWER POLICY AND A DOCUMENT RETENTION AND DESTRUCTION POLICY. FORM 990, PART IX, LINE 11G PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 1,003,418. MANAGEMENT AND GENERAL EXPENSES 52,020. FUNDRAISING EXPENSES 51,122. TOTAL EXPENSES 1,106,560.