2023-02-21T15:00:08+00:00 2022-06-30 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2021-07-01 300748997 The Economic Club of Chicago ECON 3127261628 33 N Dearborn St 1700 CHICAGO IL 60602 David Snyder PRESIDENT/CEO 2023-02-21 true David Snyder 999009999 Mallory Fairless P10321579 3128997000 2021 2023-03-07 01:45:13Z David Snyder 33 N Dearborn St 1700 CHICAGO IL 60602 4272269 false X WWW.ECONCLUBCHI.ORG X 2012 IL The Economic Club of Chicago fosters meaningful connections among Chicago leaders to encourage dialogue on important economic and social issues and to cultivate the next generation of civic leadership. 48 47 19 272 0 0 0 0 3274503 3580134 127241 173299 0 0 3401744 3753433 0 0 0 2130919 2420106 0 0 0 945090 1798100 3076009 4218206 325735 -464773 8511691 6862322 2086047 1887367 6425644 4974955 The Economic Club of Chicago fosters meaningful connections among Chicago leaders to encourage dialogue on important economic and social issues and to cultivate the next generation of civic leadership. false false 3713961 3580134 THE ECONOMIC CLUB OF CHICAGO HELD 174 EDUCATIONAL PROGRAMS DURING THE 2021-2022 PROGRAM YEAR. TOTAL ATTENDANCE AT THESE PROGRAMS WAS 8,572 MEMBERS AND GUESTS, AND VIDEOS OF THESE PROGRAMS ARE POSTED ON THE CLUB'S YOUTUBE CHANNEL FOR VIEWING BY THE GENERAL PUBLIC. THESE EDUCATIONAL PROGRAMS INCLUDED CONVERSATIONS WITH ACCLAIMED AUTHORS, ENTREPRENEURS, GOVERNMENT OFFICIALS, AND CEOS OF PUBLIC AND PRIVATE COMPANIES. SELECT SPEAKERS FROM THE 2021-2022 FISCAL YEAR INCLUDED THE REID HOFFMAN, KEN GRIFFIN, CHIP BERGH, THE HONORABLE GINA RAIMONDO, JORGEN VIG KNUDSTORP, ROZ BREWER, PEDRO MARTINEZ, LISA SU, ZANNY MINTON BEDDOES, AND ARI EMANUEL. 3713961 true false false false false false false false false true false false false true 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 false false false false true 5 0 true 19 true false false false false false false false false false false false false X 48 47 true false false false false false false true true false false true true true true true true false false false IL X David Snyder 3127261628 33 N Dearborn St Suite 1700 CHICAGO IL 60602 DAVID SNYDER PRESIDENT AND CEO 40.0 X X 465400 0 15899 ERIC SMITH TREASURER & EXECUTIVE COMMITTEE MEMBER 2.0 X X 0 0 0 KOULA BERLIN SECRETARY & EXECUTIVE COMMITTEE MEMBER 1.0 X X 0 0 0 LISA M MADIGAN FIRST VICE CHAIR , PROGRAMS & EXECUTIVE COMMITTEE MEMBER 1.0 X X 0 0 0 MARY DILLON CHAIR & EXECUTIVE COMMITTEE MEMBER 2.0 X X 0 0 0 Ryan Ruskin SECOND VICE CHAIR, FORUMS & EXECUTIVE COMMITTEE MEMBER 1.0 X X 0 0 0 ANDREA ZOPP BOARD MEMBER 0.2 X 0 0 0 BRIDGET C COUGHLIN BOARD MEMBER 0.2 X 0 0 0 BRIDGET O'KEEFE BOARD & FINANCE COMMITTEE MEMBER 1.0 X 0 0 0 CHARLES L EVANS BOARD MEMBER 0.2 X 0 0 0 Charles R Matthews BOARD & EXECUTIVE COMMITTEE MEMBER 1.0 X 0 0 0 CHRISTINE LEAHY BOARD MEMBER 0.2 X 0 0 0 Christopher T Bertschy BOARD MEMBER 0.2 X 0 0 0 DEBRA CAFARO EX OFFICIO & EXECUTIVE COMMITTEE MEMBER 1.0 X 0 0 0 DORRI MCWHORTER BOARD MEMBER 0.2 X 0 0 0 E SCOTT SANTI BOARD MEMBER 0.2 X 0 0 0 EILEEN MITCHELL BOARD MEMBER 0.2 X 0 0 0 GAVIN HATTERSLEY BOARD MEMBER 0.2 X 0 0 0 GREGORY D WASSON BOARD MEMBER 0.2 X 0 0 0 Helene D Gayle BOARD MEMBER 0.2 X 0 0 0 JAMES KOLAR BOARD & FINANCE COMMITTEE MEMBER 1.0 X 0 0 0 JEANNE GANG BOARD MEMBER 0.2 X 0 0 0 Jennifer Scanlon BOARD MEMBER 0.2 X 0 0 0 John A Challenger BOARD MEMBER 0.2 X 0 0 0 John Holmes BOARD & EXECUTIVE COMMITTEE MEMBER 1.0 X 0 0 0 JUAN R LUCIANO BOARD MEMBER 0.2 X 0 0 0 KEITH CARDOZA BOARD & FINANCE COMMITTEE MEMBER 1.0 X 0 0 0 KUNAL KAPOOR BOARD MEMBER 0.2 X 0 0 0 LISA WARDELL BOARD MEMBER 0.2 X 0 0 0 MARY LOUISE GORNO BOARD MEMBER 0.2 X 0 0 0 MAURICE SMITH BOARD MEMBER 0.2 X 0 0 0 Michael O'Grady BOARD MEMBER 0.2 X 0 0 0 MICHAEL REINSDORF BOARD MEMBER 0.2 X 0 0 0 Michelle Collins BOARD & EXECUTIVE COMMITTEE MEMBER 1.0 X 0 0 0 Mohan Rao BOARD & EXECUTIVE COMMITTEE MEMBER 1.0 X 0 0 0 OSCAR MUNOZ BOARD MEMBER 0.2 X 0 0 0 PATRICK M MAGOON BOARD MEMBER 0.2 X 0 0 0 PIETRO SATRIANO BOARD MEMBER 0.2 X 0 0 0 ROXANNE MARTINO BOARD MEMBER 0.2 X 0 0 0 Sally Blount BOARD MEMBER 0.2 X 0 0 0 Sally Grimes BOARD MEMBER 0.2 X 0 0 0 SANDRA CORDOVA MICEK BOARD MEMBER 0.2 X 0 0 0 Scott Swanson BOARD MEMBER 0.2 X 0 0 0 SEAN M CONNOLLY BOARD & EXECUTIVE COMMITTEE MEMBER 1.0 X 0 0 0 SID BALA BOARD MEMBER 0.2 X 0 0 0 TED SOUDER BOARD MEMBER 0.2 X 0 0 0 THEODORE L DYSART BOARD MEMBER 0.2 X 0 0 0 Valerie Jarrett BOARD MEMBER 0.2 X 0 0 0 Andrew M Leasure Vice President & Chief Financial Officer 40.0 X 211000 0 19011 KATIE ESPOSITO VICE PRESIDENT & CHIEF PROGRAMS OFFICER 40.0 X 203561 0 27088 LISA EMERICK VICE PRESIDENT, CHIEF MARKETING & ENGAGEMENT OFFICER 40.0 X 159100 0 16106 ANTHONY VENA DIRECTOR OF TECHNOLOGY 40.0 X 159908 0 21339 Emily Whelchel Director of Membership 40.0 X 132500 0 15589 1331469 0 115032 6 false true false 0 0 0 0 0 0 0 0 0 MEMBERSHIP DUES 900099 2590944 2590944 0 0 PROGRAMS & EVENTS 900099 989190 989190 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3580134 173299 0 0 173299 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 518836 0 518836 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3753433 3580134 0 173299 1064400 944485 119915 905145 803172 101973 164747 55281 109466 157953 140158 17795 127861 113456 14405 30901 30901 18836 18836 104261 93855 10406 0 146673 133722 12951 172549 153110 19439 175460 152650 22810 19086 18271 815 3275 2906 369 131349 114274 17075 20135 17867 2268 PROGRAM MEALS 552609 547788 4821 PROGRAM FACILITY 422966 422966 COMMITTEE FACILITY 0 0 0 0 4218206 3713961 504245 0 451520 275502 0 0 0 0 900 3950 0 0 0 0 0 0 0 0 126271 89520 1191799 885620 414376 306179 7518624 6187171 0 0 0 0 0 0 8511691 6862322 730078 596736 0 0 0 0 0 0 0 0 0 0 0 0 1355969 1290631 2086047 1887367 X 6425644 4974955 0 0 0 0 0 0 0 0 6425644 4974955 8511691 6862322 -464773 -985916 0 X false true X true false X 0 3939359 3827400 3830604 3274503 3580134 18452000 0 0 0 3939359 3827400 3830604 3274503 3580134 18452000 130445 124155 103436 90600 83750 532386 0 0 0 0 0 0 130445 124155 103436 90600 83750 532386 17919614 122756 122427 131437 127241 173299 677160 0 122756 122427 131437 127241 173299 677160 0 0 0 0 0 0 0 4062115 3949827 3962041 3401744 3753433 19129160 0.9368 0.9359 0.04 0.03 X 605774 358416 247358 258649 202278 56371 327376 324926 2450 306179 DEFERRED COMPENSATION LIABILITY 1290631 1290631 X 3118637 -985916 369956 0 -615960 3734597 18836 0 18836 3753433 4569326 369956 0 369956 4199370 18836 0 18836 4218206 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Club files Form 990 in the U.S. federal jurisdiction. Due to its tax-exempt status, the Club is not subject to U.S. federal income tax or state income tax. The Club does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. The Club recognizes interest and penalties related to unrecognized tax benefits in interest and income tax expense, respectively. The Club did not have any amounts accrued for penalties or interest at June 30, 2022 and 2021. X X X X false false false false false false false false false DAVID SNYDER PRESIDENT AND CEO 378468 0 86932 0 0 0 11600 0 4299 0 481299 0 0 0 KATIE ESPOSITO VICE PRESIDENT & CHIEF PROGRAMS OFFICER 152261 0 51300 0 0 0 7898 0 19190 0 230649 0 0 0 Andrew M Leasure Vice President & Chief Financial Officer 162000 0 49000 0 0 0 8440 0 10571 0 230011 0 0 0 LISA EMERICK VICE PRESIDENT, CHIEF MARKETING & ENGAGEMENT OFFICER 143000 0 16100 0 0 0 5444 0 10662 0 175206 0 0 0 ANTHONY VENA DIRECTOR OF TECHNOLOGY 130133 0 29775 0 0 0 6396 0 14943 0 181247 0 0 0 Form 990, Part I, Line 6 Volunteers THE CLUB HAS MEMBER BASED COMMITTEES THAT PROVIDE OVERSIGHT AND GOVERNANCE AND SUPPORT OUR MEMBERSHIP AND PROGRAM SERVICE OFFERINGS. DURING THE 2021-2022 PROGRAM YEAR THE CLUB HAD A TOTAL OF 272 MEMBERS VOLUNTEER TO SERVE ON ONE OR MORE OF THESE COMMITTEES. Form 990, Part VI, Line 15a PROCESS TO ESTABLISH COMPENSATION OF TOP MANAGEMENT OFFICIAL The Finance Committee benchmarks the Club's compensation levels for the President and CEO and for all Club employees annually. The Club utilizes data from local and national businesses, civic organizations, and not-for-profit organizations. The Finance Committee specifically reviews data from organizations with similar revenues, similar scope of operations, and organizations with a high caliber reputation. This process is then documented within the Finance and Executive Committees' meeting minutes. Additionally, every three years the Board of Directors engages an independent compensation consultant to review our compensation philosophy, competitive pay levels for all employees, and reasonableness of executive compensation. THIS INDEPENDENT CONSULTATION WAS LAST UNDERTAKEN DURING THE FISCAL YEAR ENDED JUNE 30, 2021. Form 990, Part VI, Line 15b PROCESS TO ESTABLISH COMPENSATION OF OTHER OFFICERS OR KEY EMPLOYEES SEE RESPONSE TO LINE 15A. Form 990, Part VI, Line 1a Delegate broad authority to a committee The Club's Executive Committee represents the Board of Directors and assists in fulfilling oversight and governance responsibilities surrounding the organization's strategy, programs, membership base, internal committees, and general operations. The Executive Committee consisted of twelve Board Directors. Form 990, Part VI, Line 2 Family/business relationships amongst interested persons Valerie Jarret, John W. Rogers Jr. - Business relationship, MARY DILLON, Michelle Collins, AND SALLY BLOUNT - Business relationship, ROXANNE MARTINO AND DEBRA CAFARO - Business relationship, Michelle Collins & John Rogers Jr. - Business relationship, Helene Gayle, Jennifer Scanlon, Michael O'Grady - Business relationship Form 990, Part VI, Line 11b Review of form 990 by governing body At the end of the fiscal year, the Club engages an outside auditor to review its financials and perform an audit. Once the audit is completed, an outside accountant assists in the preparation of the Form 990. The Club's Finance Committee meets to review and approve the audit report and the Form 990. Subsequent to the Finance Committee's review, a copy of the audit report and Form 990 are sent to the Executive Committee for review and approval. Finally, the Form 990 is distributed to the full Board of Directors before the return is filed. Form 990, Part VI, Line 12c Conflict of interest policy The Economic Club has a conflict of interest policy that is reviewed annually by our Finance Committee, Executive Committee, and Board of Directors. Interested Persons are required to sign an annual disclosure statement which indicates whether or not they are aware of any conflicts or potential conflicts. In accordance with our conflict of interest policy, the Club's Board members, Committee members, Officers, and Key Employees must notify the Club Chair if any conflicts or potential conflicts arise between the Club's annual independence affirmations. Interested persons are required to abstain from any vote on, or consideration of, any matter related to the subject of the conflict of interest. Form 990, Part VI, Line 19 Required documents available to the public Financial Statements, governing documents, and conflict of interest policies are not required disclosures pursuant to Internal Revenue Service Code (IRC) Section 6104. These documents are not available to the public at this time.