2025-12-18T10:38:10-06:00 2025-06-30 991856619 GRANT THORNTON ADVISORS LLC 171 N CLARK ST STE 200 CHICAGO IL 60601 990 2024-07-01 362197847 THE COMMERCIAL CLUB OF CHICAGO COMM 3128531200 190 SOUTH LASALLE STREET 39TH FLOO CHICAGO IL 60603 CORDELIA C MEYER EXECUTIVE VICE PRESIDENT 3128531200 2025-12-18 1 0 DANIEL ROMANO P00504182 3128560200 2024 2025-03-06 01:10:19Z CORDELIA C MEYER 190 SOUTH LASALLE STREET 39TH FLOOR CHICAGO IL 60603 9392408 0 X WWW.COMMERCIALCLUBCHICAGO.ORG X 1877 IL SEE SCHEDULE OTHE PURPOSE OF THE COMMERCIAL CLUB OF CHICAGO IS TO PROMOTE THE SOCIAL AND ECONOMIC VITALITY OF THE METROPOLITAN AREA OF CHICAGO. 24 23 27 168 0 0 0 0 5988110 8555803 80270 109165 28841 45079 6097221 8710047 0 0 0 0 3909155 5600597 0 0 0 1964273 3220729 5873428 8821326 223793 -111279 5406491 18338033 3301938 4160121 2104553 14177912 X SEE SCHEDULE O 0 0 4996164 100 7433903 POLICY INITIATIVES - THE CIVIC COMMITTEE ESTABLISHES TASK FORCES AND COMMITTEES ADDRESSING KEY POLICY ISSUES CONFRONTING THE CHICAGO REGION. IN FISCAL 2025, KEY INITIATIVES INCLUDED: CHICAGO BUSINESS OPPORTUNITY INITIATIVE TASK FORCE, PUBLIC SAFETY TASK FORCE, STATE FINANCE TASK FORCE, CITY FINANCE WORKING GROUP, STRATEGIC PLANNING WORKING GROUP, TRANSPORTATION TASK FORCE, EDUCATIONAL REFORM, AND OTHER INITIATIVES. 1097142 1121900 THE CLUB HOLDS MEETINGS AND EVENTS THROUGHOUT THE YEAR TO DISCUSS ITS PROGRAMS AND TO HEAR SPEAKERS DISCUSS KEY POLICY ISSUES THAT IMPACT THE CHICAGO REGION. 6093306 0 0 0 1 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 20 0 1 27 1 0 0 0 0 0 0 0 0 1 0 X 24 23 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 1 0 X MS CORDELIA C MEYER 3128531200 190 SOUTH LASALLE STREET 39TH FLOOR CHICAGO IL 60603 DEREK R B DOUGLAS PRESIDENT 33.00 7.00 X X 883004 155824 68233 JENNIFER SCANLON DIRECTOR/CHAIRMAN 2.00 3.00 X X 0 0 0 MICHAEL O'GRADY DIRECTOR/VICE CHAIRMAN 2.00 3.00 X X 0 0 0 SCOTT SWANSON DIRECTOR/TREASURER 1.00 3.00 X X 0 0 0 STEVE KOCH DIRECTOR/SECRETARY 1.00 3.00 X 0 0 0 DEBRA CAFARO DIRECTOR 1.00 0.00 X 0 0 0 DEBORAH DEHAAS DIRECTOR 1.00 0.00 X 0 0 0 RICARDO ESTRADA DIRECTOR 1.00 0.00 X 0 0 0 ROBERT FORD DIRECTOR 1.00 0.00 X 0 0 0 JAY L HENDERSON DIRECTOR 1.00 0.00 X X 0 0 0 JOHN HOLMES DIRECTOR 1.00 0.00 X 0 0 0 MARK HOPLAMAZIAN DIRECTOR 1.00 0.00 X 0 0 0 CHEVY HUMPHREY DIRECTOR 1.00 0.00 X 0 0 0 LESTER KNIGHT DIRECTOR 1.00 0.00 X 0 0 0 WALTER E MASSEY DIRECTOR 1.00 0.00 X 0 0 0 DORRI MCWHORTER DIRECTOR 1.00 0.00 X 0 0 0 PENNY PRITZKER DIRECTOR 1.00 0.00 X 0 0 0 JOHN ROGERS DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL SACKS DIRECTOR 1.00 0.00 X 0 0 0 E SCOTT SANTI DIRECTOR 1.00 0.00 X 0 0 0 ERIC SMITH DIRECTOR 1.00 0.00 X 0 0 0 JENNIFER W STEANS DIRECTOR 1.00 0.00 X 0 0 0 LAURA THONN DIRECTOR 1.00 0.00 X 0 0 0 THOMAS WILSON DIRECTOR 1.00 0.00 X 0 0 0 CORDELIA C MEYER EXECUTIVE VICE PRESIDENT 36.00 6.00 X 391580 55940 46504 ERIKA POETHIG EVP FOR STRATEGY AND PLANNING 40.00 0.00 X 356536 0 26205 TOM KOTARAC SENIOR VP, TRANSPORT/INFRA 40.00 0.00 X 310724 0 53347 SUZANNE FISHER VP, FINANCE & ADMIN 28.00 4.00 X 166347 23764 45613 REGINA HEYWARD SR VP FOR ECONOMIC OPPORTUNITY 40.00 0.00 X 298104 0 13085 ROBERT BOIK SR VP FOR PUBLIC SAFETY 40.00 0.00 X 232047 0 13231 NIKA LEVANDO BIRMAN CHIEF OF STAFF 2.00 38.00 X 161940 8523 12566 2800282 244051 278784 10 0 1 0 THE CHICAGO CLUB 81 E VAN BUREN ST CHICAGO IL 60605 EVENTS & CATERING 203368 SDI PRESENCE LLC 200 E RANDOLPH ST SUITE 3550 CHICAGO IL 60601 IT CONSULTING 142775 DANIEL J EDELMAN INC 200 E RANDOLPH ST SUITE 6300 CHICAGO IL 60601 CONSULTING 124500 VANTAGE AV 1385 101ST STREET STE F LEMONT IL 60439 AUDIO VISUAL CONSULTANT 111265 ADDISON GROUP 125 S WACKER DR 27TH FLOOR CHICAGO IL 60606 CONSULTING 108984 5 RELATED ORG PROG SUPPORT 900099 7433903 7433903 NONDEDUCTIBLE DUES 900099 1121900 1121900 8555803 65449 65449 726077 682361 43716 43716 43716 GUEST FEES 900099 44390 44390 MISCELLANEOUS INCOME 900099 689 689 45079 8710047 8555803 0 154244 X 1879925 1255814 624111 3015247 2073686 941561 81451 64849 16602 364480 211605 152875 259494 180009 79485 15000 15000 78526 1217 77309 1542782 1303087 239695 122494 42050 80444 417732 296626 121106 274274 124917 149357 31108 23203 7905 562635 460547 102088 25 7 18 69512 20423 49089 29182 29182 MEALS & ENTERTAINMENT 32507 6512 25995 MEMBERSHIP DUES 16335 9820 6515 28617 18934 9683 8821326 6093306 2728020 0 1000 1265459 1179318 63313 9082 19396 49917 630711 136964 328344 493747 1580528 1728436 2149451 14876533 5406491 18338033 863384 1572912 32475 35925 2406079 2551284 3301938 4160121 X 2104553 2037248 12140664 2104553 14177912 5406491 18338033 X -111279 43974 12140664 X 0 1 X 1 0 0 1 0 139851 12521 127330 434872 110446 324426 55988 13997 41991 493747 OPERATING RIGHT OF USE ASSET 1925440 DUE FROM RELATED ORGS/AFFILS 810429 BENEFICIAL INTEREST IN ASSETS HELD BY OTHERS 12140664 14876533 OPERATING LEASE LIABILITY 2499596 FINANCE LEASE LIABILITY 51688 2551284 X 11020272 43974 2266251 2310225 8710047 0 8710047 11087577 2266251 2266251 8821326 0 8821326 PART X, LINE 2: FASB ASC 740 FOOTNOTE - LIABILITY FOR UNCERTAIN TAX POSITION 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 0 0 0 0 0 0 0 0 1 1 DEREK R B DOUGLAS PRESIDENT 878332 155000 0 0 4672 824 16734 2953 41264 7282 941002 166059 0 0 CORDELIA C MEYER EXECUTIVE VICE PRESIDENT 381781 54540 0 0 9799 1400 16318 2331 24373 3482 432271 61753 0 0 ERIKA POETHIG EVP FOR STRATEGY AND PLANNING 352953 0 0 0 3583 0 17250 0 8955 0 382741 0 0 0 TOM KOTARAC SENIOR VP, TRANSPORT/INFRA 306602 0 0 0 4122 0 16144 0 37203 0 364071 0 0 0 REGINA HEYWARD SR VP FOR ECONOMIC OPPORTUNITY 296586 0 0 0 1518 0 0 0 13085 0 311189 0 0 0 ROBERT BOIK SR VP FOR PUBLIC SAFETY 231300 0 0 0 747 0 8042 0 5189 0 245278 0 0 0 SUZANNE FISHER VP, FINANCE & ADMIN 164785 23541 0 0 1562 223 8664 1238 31247 4464 206258 29466 0 0 NIKA LEVANDO BIRMAN CHIEF OF STAFF 161635 8507 0 0 305 16 700 37 11238 591 173878 9151 0 0 PART I, LINE 8 FIXED PAYMENTS ASSOCIATED WITH THE CONTRACT ENTERED INTO WITH THE PRESIDENT ARE SUBJECT TO THE INITIAL CONTRACT EXCEPTION. THE TERMS OF THE CONTRACT WERE NEGOTIATED AT AN ARM'S LENGTH AND THE PRESIDENT WAS NOT A DISQUALIFIED PERSON IMMEDIATELY PRIOR TO ENTERING INTO THE INITIAL CONTRACT. FORM 990, PART III, LINE 1: ORGANIZATION'S MISSION THE COMMERCIAL CLUB OF CHICAGO (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 BUSINESS LEADERS WHO BELIEVED CHICAGO NEEDED A STRONG AND COHESIVE CIVIC FORCE TO HELP SHAPE THE COURSE OF THE CITY'S DEVELOPMENT, TODAY THE CLUB IS AN ORGANIZATION COMPRISED OF APPROXIMATELY 480 ACTIVE AND LIFE SENIOR BUSINESS, EDUCATIONAL, CIVIC, AND CULTURAL LEADERS WHO SEEK TO ADDRESS SOCIAL AND ECONOMIC ISSUES OF IMPORTANCE TO THE CHICAGO REGION. THE CLUB HOLDS AT LEAST 10 MEETINGS DURING THE YEAR TO HEAR SPEAKERS DISCUSS KEY ISSUES THAT IMPACT 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 UNDERTAKE PROJECTS TO BOLSTER CORE INDUSTRIES AND PURSUE NEW ECONOMIC OPPORTUNITIES FOR THE REGION. THE CIVIC COMMITTEE IS COMPRISED OF APPROXIMATELY 100 SENIOR EXECUTIVES OF THE CHICAGO REGION'S LEADING PRIVATE EMPLOYERS. ITS MISSION IS TO MAKE THE CHICAGO REGION THE BEST PLACE FOR EVERYONE TO LIVE, WORK, AND DO BUSINESS. THE CIVIC COMMITTEE ESTABLISHES TASK FORCES AND COMMITTEES TO UNDERTAKE STUDIES AND DEVELOPS RECOMMENDATIONS TO ADDRESS KEY POLICY ISSUES CONFRONTING THE CHICAGO REGION; AND HOLDS MEETINGS AND EVENTS THROUGHOUT THE YEAR TO DISCUSS ITS PROGRAMS AND TO HEAR FROM SPEAKERS ON KEY POLICY ISSUES. IN ADDITION, THE CLUB AND CIVIC COMMITTEE SUPPORT AFFILIATED ORGANIZATIONS TO DEVELOP AND IMPLEMENT IMPROVEMENTS IN POLICY AND OPERATIONS OF THE CITY OF CHICAGO, THE SURROUNDING REGION, AND THE STATE OF ILLINOIS. AT THE PRESENT TIME, THESE ORGANIZATIONS INCLUDE CIVIC COMMITTEE ACTION, CIVIC CONSULTING ALLIANCE, KIDS FIRST CHICAGO FOR EDUCATION (K1C), AND P33. THE CLUB'S FINANCIAL STATEMENTS INCLUDE THE ACTIVITIES OF THE COMMERCIAL CLUB OF CHICAGO AND CIVIC COMMITTEE, WHICH COMPRISE ONE LEGAL ENTITY. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS THE COMMERCIAL CLUB OF CHICAGO IS A MEMBERSHIP ORGANIZATION. ACTIVE MEMBERS ARE RESPONSIBLE FOR THE VARIED UNDERTAKINGS OF THE CLUB AND WILL ACCEPT AND PERFORM, WITHIN REASONABLE LIMITATIONS, THE ASSIGNMENT OF WORK BY THE OVERSIGHT BODY TO ADVANCE THE CLUB'S INTERESTS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS WHO MAY ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY THE COMMERCIAL CLUB OF CHICAGO IS A MEMBERSHIP ORGANIZATION. ACTIVE MEMBERS AND LIFE MEMBERS SHALL HAVE THE RIGHT TO ELECT THE CHAIR, THE VICE CHAIR, THE TREASURER AND THE SECRETARY AS OFFICERS OF THE CLUB (WITH SUCH OFFICERS SERVING IN THESE SAME ROLES FOR THE CIVIC COMMITTEE) AND ANY OTHER MEMBER-ELECTED DIRECTORS, AS APPLICABLE. FORM 990, PART VI, SECTION A, LINE 7B ANY AMENDMENTS OR CHANGES TO THE BYLAWS MUST BE APPROVED (I) BY THE MAJORITY OF THE DIRECTORS THEN IN OFFICE AND (II) BY A MAJORITY VOTE OF THE MEMBERS PRESENT AT ANY MEETING; PROVIDED, HOWEVER, THAT ANY MINISTERIAL CHANGES TO THE BYLAWS OR CHANGES TO THE BYLAWS REQUIRED BY LAW MAY BE ADOPTED BY A MAJORITY OF THE DIRECTORS THEN IN OFFICE. FORM 990, PART VI, SECTION A, 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, SECTION B, 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, SECTION B, 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, SECTION B, 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, SECTION B, LINE 15 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, SECTION C, LINE 19 DOCUMENTS AVAILABLE TO THE PUBLIC THE CLUB PROVIDES DOCUMENTS TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINES 7, 8, 9, AND 10: MANAGEMENT AND GENERAL LINES 7, 8, 9, AND 10 FOR OTHER SALARIES, PENSION PLAN ACCRUAL AND CONTRIBUTIONS, OTHER EMPLOYEE BENEFITS AND PAYROLL TAXES INCLUDE SERVICES DONATED TO RELATED AND AFFILIATED ORGANIZATIONS FOR ADMINISTRATIVE SUPPORT IN THE FOLLOWING AMOUNTS: CIVIC CONSULTING ALLIANCE $144,429 COMMERCIAL CLUB FOUNDATION $11,256 CIVIC COMMITTEE ACTION $6,506 KIC $136,532 P33 $45,372 ----------- TOTAL $344,095 ----------- FORM 990, PART IX, LINE 11G OTHER FEES: PROGRAM SERVICE EXPENSES 1,303,087. MANAGEMENT AND GENERAL EXPENSES 239,695. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,542,782. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN ASSETS HELD BY OTHERS 12,140,664. THE COMMERCIAL CLUB FOUNDATION 190 SOUTH LASALLE STREET 39TH FLOOR CHICAGO IL 60603 363406446 FUNDRAISING IL 501(C)(3) LINE 7 COM CLUB CHI 1 CIVIC CONSULTING ALLIANCE 190 SOUTH LASALLE STREET 39TH FLOOR CHICAGO IL 60603 450467524 PUBLIC POLICY IL 501(C)(3) LINE 7 COM CLUB CHI 1 CIVIC COMMITTEE ACTION 190 SOUTH LASALLE STREET 39TH FLOOR CHICAGO IL 60603 453617415 PUBLIC POLICY IL 501(C)(4) COM CLUB CHI 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 1 0 0 THE COMMERCIAL CLUB FOUNDATION C 7433903 COST THE COMMERCIAL CLUB FOUNDATION N 152336 COST THE COMMERCIAL CLUB FOUNDATION O 412164 COST THE COMMERCIAL CLUB FOUNDATION Q 610921 COST CIVIC CONSULTING ALLIANCE Q 650050 COST