2011-03-29T13:51:49-05:00 2010-08-31 RSM MCGLADREYINC ONE SOUTH WACKER DRIVE SUITE 800 CHICAGO IL 60606 990 2009-09-01 360756300 Audit Bureau of Circulations AUDI 2243666939 48 West Seegers Road Arlington Heights IL 60005 Paul Fajnor 2243666939 2011-03-28 1 Paul Blakey 3126343400 2009 2016-02-24 21:20:13Z Michael J Lavery 48 West Seegers Road Arlington Heights IL 60005 22145845 0 X www.accessabc.com X 1914 IL Audit Bureau of Circulations is dedicated to being the world preeminent self-regulatory auditing organization, responsible to advertisers, advertising agencies and the media they use, for the independent verification and dissemination of our members' circulation, readership and audience information. 32 32 226 0 39911 0 0 23687303 21710788 -1791963 -125763 59314 12854 21954654 21597879 0 0 18464486 16754563 0 0 7249989 5166120 25714475 21920683 -3759821 -322804 33297939 35872308 33719779 36238524 -421840 -366216 Audit Bureau of Circulations (ABC) is dedicated to being the World's pre-eminent self-regulatory auditing organization, responsible to advertisers, advertising agencies, and the media they use, for the independent verification and dissemination of our members' circulation, readership, and audience information. 0 0 0 0 0 Audit services revenue reflects charges for audit and verification services to publisher and media members which enable ABC to audit a publication or media members and, therefore, fulfill its exempt purpose. 0 0 0 Report Service revenue is the revenue ABC receives for providing reports and information to members and non-members. This activity is substantially related to ABC's exempt purpose. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 1 24 0 1 226 1 1 1 1 CA 0 0 0 32 32 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 CA X X Paul Fajnor 2243666939 48 West Seegers Road Arlington Heights IL 600053913 Christopher L Black 2.00 X 0 0 0 Sunni Boot 2.00 X 597 0 0 Lorelei Calvert 2.00 X 0 0 0 Ed Cicale 2.00 X 0 0 0 Merle K Davidson 2.00 X X 0 0 0 Kirk A Davis 2.00 X 0 0 0 Brett Dennis 2.00 X 0 0 0 Rob Fisher 2.00 X X 0 0 0 Irene Grieco 2.00 X 0 0 0 Jack Griffin 2.00 X 0 0 0 John Q Griffin 2.00 X 0 0 0 Caroline D Harrison 2.00 X 1049 0 0 Scott H Heekin-Canedy 2.00 X 0 0 0 Mark A Kaline 2.00 X 0 0 0 David W Leckey 2.00 X X 0 0 0 James H McGraw IV 2.00 X 0 0 0 Christina Meringolo 2.00 X 0 0 0 Steven B Rossi 2.00 X 0 0 0 Charles B Rutman 2.00 X 0 0 0 Vikki Schwartzman 2.00 X X 0 0 0 Brian Segal 2.00 X X 1684 0 0 Suzanne Silber 2.00 X 0 0 0 Dennis Skulsky 2.00 X 1622 0 0 Leonard Stabile 2.00 X 0 0 0 Robin Steinberg 2.00 X 0 0 0 Howard G Sutton 2.00 X 1053 0 0 Robert Troutbeck 2.00 X 848 0 0 Lindsay Valk 2.00 X 0 0 0 Judy Vogel 2.00 X 0 0 0 Gary Vorpahl 2.00 X 0 0 0 David S Walker 2.00 X X 0 0 0 Brenda White 2.00 X 0 0 0 Frank R J Whittaker 2.00 X 0 0 0 Lisa Haynes 2.00 X 0 0 0 Lorraine Hughes 2.00 X 0 0 0 Todd H Larsen 2.00 X 0 0 0 Chris Schembri 2.00 X 0 0 0 Shelagh Stoneham 2.00 X 0 0 0 Evan A Ray 2.00 X 0 0 0 Michael J Lavery 40.00 X 608955 0 141802 Paul Fajnor 40.00 X 151035 0 36412 Neal Lulofs 40.00 X 149787 0 36412 Michael K Moran 40.00 X 255365 0 48338 Mark A Wachowicz 40.00 X 198014 0 41352 Scott J Hanson 40.00 X 165010 0 38150 Teresa Perry 40.00 X 159817 0 40095 Kaydene Stachelski 40.00 X 153951 0 36765 Robert White 40.00 X 268396 0 7360 George Bartman 40.00 X 172987 0 18251 2140383 0 408525 10 0 1 0 Wildman Harrold Allan and Dixon 225 West Wacker Drive Chicago IL 60606 Legal Services 232743 1 Audit Services 541900 16664234 16664234 Report Services 541900 3349040 3330687 18353 Membership Dues 541900 1697514 1697514 21710788 416183 416183 6020 510651 37315 -510651 -31295 -541946 -541946 Administrative Service 561000 21558 21558 Other Investment Incom 900099 -8704 -8704 12854 21597879 21692435 39911 -134467 2998977 9976548 1612912 1233774 932352 67893 77500 114685 124354 188476 276425 844287 1514770 382131 66739 568525 Equipment Rental & Main 481792 Relocation Expense 182772 Telecom Expense 140375 Product Development 30584 Dues and Subscriptions 23572 81240 21920683 2500687 2967986 12136834 11483593 340158 331636 13294469 5597834 6251893 7696635 6956711 10909674 5111656 2482784 33297939 35872308 3731241 3852278 1958067 29988538 30428179 33719779 36238524 X -421840 -366216 -421840 -366216 33297939 35872308 X 0 1 1 X 0 1694285 1694285 7309753 1945895 5363858 25168 25168 0 3244839 2745289 499550 1020424 881482 138942 7696635 PIMCO stocksPLUS 2482784 F 2482784 Member Advance Deposits Net of Audits in Process 14794321 Investment in Subsidiaries 9984253 Accrued Pension Liability 5649605 30428179 21597879 21920683 -322804 -211470 589898 378428 55624 23984529 1585038 823170 2408208 21576321 21558 21558 21597879 22513874 211462 403287 614749 21899125 21558 21558 21920683 Part XII, Line 2d - Other Adjustments: Investment in Subsidiary Part XII, Line 4b - Other Adjustments: Administrative Service Income Part XIII, Line 2d - Other Adjustments: Investment in Subsidiary and increase in allowance for doubtful accounts Part XIII, Line 4b - Other Adjustments: Administrative Service Expense Part XI, Line 8: Investment in Subsidiary, Unrealized Gain (Loss), Foreign Currency Adjustment, GAAP/Tax Difference Relating To Investments, Pension-Related Changes Other Than Net Periodic Pension Costs Part X, Line 2: On September 1, 2009, the Bureau and its subsidiaries adopted, effective for fiscal year 2010, the accounting standard on accounting for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the Bureau and its subsidiaries may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position, Examples of tax positions include tax-exempt status of the Bureau (and ABC LLC), and various positions related to the potential sources of unrelated business taxable income ("UBIT"). There were no unrecognized tax benefits identified or recorded as liabilities by the Bureau for fiscal year 2010. ABVS and ABMS have not recorded a reserve for any tax positions for which the ultimate deductibility is highly certain but there is uncertainty about the timing of such deductibility. North America 1 Program Services Circulation Auditing 1442416 1 0 1442416 X X X 1 1 X X X 1 1 0 Michael J Lavery 383530 0 133126 0 92299 0 126237 0 15565 0 750757 0 0 0 Paul Fajnor 130934 0 20101 0 0 0 16423 0 19989 0 187447 0 0 0 Michael K Moran 205793 0 40601 0 8971 0 26137 0 22201 0 303703 0 0 0 Mark A Wachowicz 173413 0 24601 0 0 0 21363 0 19989 0 239366 0 0 0 Scott J Hanson 142909 0 22101 0 0 0 18161 0 19989 0 203160 0 0 0 Teresa Perry 137581 0 22236 0 0 0 17894 0 22201 0 199912 0 0 0 Kaydene Stachelski 139700 0 14251 0 0 0 16776 0 19989 0 190716 0 0 0 Robert White 268396 0 0 0 0 0 5084 0 2276 0 275756 0 0 0 George Bartman 157586 0 15401 0 0 0 18251 0 0 0 191238 0 0 0 Part I, Line 1a Part I, Line 1a: First Class or Charter - the Audit Bureau of Circulations (ABC) Directors' travel policy allows all ABC Directors to be reimbursed, with proper support documentation, for a first class airline ticket when trip requires more than three hours total flight time. Part I, Line 1a: Travel for Companions - ABC will reimburse, with proper support documentation, travel expense associated with a companion. As such, ABC will include in and issue the appropriate government form (i.e. 1099). Part I, Line 1a: Tax Indemnification and Gross-up Payments - From time to time ABC will reimburse employees for gross-up payments associated with certain expenses (i.e. relocation, automobile). As such, these amounts are included in the appropriate government tax form. Part I, Line 4a Part I, Line 4a: Robert White - Robert White entered into a severance agreement with ABC in the amount of $245,000. This severance agreement included both medical and dental coverage for one month. Part I, Line 4b: Michael J. Lavery - $100,000 Audit Bureau of Circulations (ABC) maintains an executive retirement plan (ERP) and is subject to the provisions of Internal Revenue Code Section 457(f). Amounts attributed to ABC's ERP will vest 1) 50% upon the participant's attainment of age 62 and 50% upon the participant's attainment of age 65 or 2) participant's termination of employment due to death or disability. Benefits will be paid in a single lump sum. Advance Publications ABC Director/Publishing Company Executive 764213 Provide Audit and Report Services 0 American Media Inc ABC Director/Publishing Company Executive 244838 provide audit and report services 0 Rogers Publishing ABC Director/Publishing Company Executive 309813 Provide Audit and Report Services 0 Gannett Co Inc ABC Director/Publishing Company Executive 1090485 Provide Audit and Report Services 0 Meredith Corporation ABC Director/Publishing Company Executive 372785 Provide Audit and Report Services 0 National Geographic Society ABC Director/Publishing Company Executive 131404 Provide Audit and Report Services 0 Gatehouse Media Inc ABC Director/Publishing Company Executive 113857 Provide Audit and Report Services 0 American City Business Journals ABC Director/Publishing Company Executive 237352 Provide Audit and Report Services 0 California Newspapers Partnership ABC Director/Publishing Company Executive 716505 Provide Audit and Report Services 0 Form 990, Part VI, Section A, line 4 At the Audit Bureau of Circulations (ABC) July, 2010 Board meeting, the ABC Board voted to increase the number of directors from 36 to 38. Form 990, Part VI, Section A, line 6 The Audit Bureau of Circulations is a trade association whose members represent both the advertising and publishing industry. The Audit Bureau of Circulations members participate in the election of Directors to the governing body, as well as serving on various advisory committees for the benefit of the advertising and publishing industry. Form 990, Part VI, Section A, line 7a All member in each of Audit Bureau of Circulations respective membership divisions, who are present in person or by proxy and eligible to vote, are eligible to nominate and vote on the election of all of the directors who will represent their respective membership division. Form 990, Part VI, Section A, line 7b All members in each of Audit Bureau of Circulations (ABC) respective membership divisions are eligible to vote for ABC Directors, membership eligibility requirements, approval of annual meeting minutes and other potential votes by members required by the Illinois Not-For-Profit Corporation Act. All decisions by the ABC Board of Directors are subject to the Bureau's bylaws governing special meetings. Form 990, Part VI, Section B, line 11 As outlined in ABC's Audit Committee Charter, ABC's President, SVP-Finance and Administration and the Tax Partner from ABC's Public Accounting firm, review ABC's U.S. Form 990 with ABC's Audit Committee prior to submission to the IRS. This review is conducted at the ABC's March Board of Directors meeting and consisted of a review of tax accounting principles, practices and judgments. Form 990, Part VI, Section B, line 12c All ABC Board members, as well as all ABC employees are required to sign a conflict of interest policy annually. Within the Conflict of Interest policy is a requirement to divulge any conflict. The signed documents are retained by the ABC. Form 990, Part VI, Section B, line 15a During the annual review of ABC's fiscal budget, the ABC's Operations Committee will review and recommend to ABC's Board of Directors the approval of compensation for all ABC officers. The approval of the fiscal budget is documented in ABC's Board meeting minutes. In determining the President's compensation, ABC's Treasurer will seek and receive input from the Chair's of ABC's Media Committees, plus the Chairman of the Board, plus use Form 990's from other not for profit organizations. ABC used an independent compensation consultant for the President in July 2007. Form 990, Part VI, Section C, line 19 Upon completion of the annual financial audit, Audit Bureau of Circulations posts its consolidated financial statements on its website. In addition, the ABC's bylaws and rules are posited on its website. No other documents are available to the public. ABC Report Services LLC 48 West Seegers Road Arlington Heights IL 60005 061639763 Admin/Production IL 1267828 661049 N/A Audit Bureau of Verification Services Inc 48 West Seegers Road Arlington Heights IL 60005 364051356 Interactive/Web Auditing IL Audit Bureau of Circulations C 822204 109404 1.00000 Audit Bureau of Marketing Services 48 West Seegers Road Arlington Heights IL 60005 364405804 Trade Show Auditing IL Audit Bureau of Circulations C 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0