2022-03-28T15:04:51-05:00 2021-05-31 135565207 KPMG LLP 345 PARK AVENUE NEW YORK NY 10154 990 2020-06-01 131776434 CONSUMER REPORTS INC CONS 9143782000 101 TRUMAN AVENUE YONKERS NY 107031044 ERIC WAYNE SR. VP AND CFO 9143782000 2022-03-23 1 ERIC WAYNE 999009999 EVAN W SEEKAMP P01907071 2127589700 2022-03-15 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z MARTA L TELLADO 101 TRUMAN AVENUE YONKERS NY 10703 282822257 0 X WWW.CONSUMERREPORTS.ORG X 1936 NY WE ARE AN INDEPENDENT, NONPROFIT ORGANIZATION THAT WORKS SIDE BY SIDE WITH CONSUMERS. 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SEESCHEDULE O FOR ADDITIONAL INFORMATION. 206004727 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 0 0 1 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 184 0 1 635 1 1 1 1 CA 0 0 0 1 1 0 0 0 0 0 0 X 16 16 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AL AR CA CT FL GA HI IL KS KY MA MD MI MN MS MO NC NV NH NJ NM NY OK OR PA RI SC TN UT VA WA WI WV X X MR MICHAEL MARTIN CPA 9143782000 101 TRUMAN AVENUE YONKERS NY 107031044 ANNETTE LOVOI CHAIR THRU 10/23/20 2.00 0.00 X 0 0 0 THOMAS C VOICE VICE CHAIR & DIRECTOR THRU 10/21/20 2.00 0.00 X 0 0 0 JOAQUIN ALVARADO CHAIR AS OF 10/23/20 2.00 0.00 X 0 0 0 DEBORAH A COWAN TREASURER AS OF 10/23/20 2.00 0.00 X 0 0 0 A YESIM ORHUN TREASURER AND DIRECTOR THRU 9/22/20 2.00 0.00 X 0 0 0 KATHLEEN ENGEL DIRECTOR 2.00 0.00 X 0 0 0 JOANNE HOVIS DIRECTOR 2.00 0.00 X 0 0 0 WILLIE E MAY DIRECTOR 2.00 0.00 X 0 0 0 EDMUND MIERZWINSKI DIRECTOR 2.00 0.00 X 0 0 0 STEPHEN P HOOVER DIRECTOR AS OF 10/21/20 2.00 0.00 X 0 0 0 JAMESON KELLEHER DIRECTOR AS OF 10/21/20 2.00 0.00 X 0 0 0 RUSSELL G NOLES DIRECTOR 2.00 0.00 X 0 0 0 WILLARD P OGBURN SECRETARY AS OF 10/23/20 2.00 0.00 X 0 0 0 BETSY D SCOLNIK DIRECTOR 2.00 0.00 X 0 0 0 MICAH L SIFRY DIRECTOR AS OF 10/21/20 2.00 0.00 X 0 0 0 TAREN STINEBRICKNER-KAUFFMAN DIRECTOR 2.00 0.00 X 0 0 0 CALVIN SIMS DIRECTOR AS OF 10/21/20 2.00 0.00 X 0 0 0 ELLEN TAUS DIRECTOR 2.00 0.00 X 0 0 0 ASTRID VERMEER DIRECTOR AS OF 10/21/20 2.00 0.00 X 0 0 0 MARTA L TELLADO PRESIDENT & CEO 45.00 0.00 X 762624 0 31517 LEONORA WIENER SR. 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IS EXEMPT WITH THE IRS UNDER SECTION 509(A)(2). HOWEVER, TO SUPPORT THE USE OF SPECIAL 2% RULE FOR REPORTING CONTRIBUTIONS ON SCHEDULE B, THE ORGANIZATION HAS FILLED OUT PART II. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 1 6615 1 102813 1 264939 0 1 230533 1 16903 0 621803 0 PART II-B, LINE 1: LINE 1A - VOLUNTEERS TESTIFY BEFORE CONGRESS AND STATE LEGISLATURES; SPEAK AT PRESS CONFERENCES REGARDING STATE AND FEDERAL LEGISLATION; LOBBY LEGISLATORS. LINE 1B - PAID STAFF OR MANAGEMENT: PLEASE SEE BELOW ACTIVITIES, AS STAFF AND MANAGEMENT ARE INCLUDED IN THOSE ACTIVITIES AND TOTALS. LINE 1C - MEDIA ADVERTISEMENTS: MEDIA SPACE PURCHASED IN PRINT AND RADIO AND SOCIAL MEDIA REGARDING STATE OR FEDERAL LEGISLATION. LINE 1D - MAILING TO MEMBERS, LEGISLATORS, OR THE PUBLIC: LETTERS AND EMAILS TO STATE OR FEDERAL LEGISLATORS AND STAFF REGARDING LEGISLATION; EMAIL ACTION ALERTS REGARDING STATE OR FEDERAL LEGISLATION TO OUR MEMBERS OR ACTIVISTS. LINE 1E - PUBLICATIONS, OR PUBLISHED OR BROADCAST STATEMENTS: LOBBYING MESSAGES REGARDING LEGISLATION THAT APPEAR IN CONSUMER REPORTS AND ITS OTHER PUBLICATIONS. LINE 1G - DIRECT CONTACT WITH LEGISLATORS, THEIR STAFFS, GOVERNMENT OFFICIALS, OR LEGISLATIVE BODY: FACE-TO-FACE MEETINGS OR; TELEPHONE CALLS WITH STATE OR FEDERAL LEGISLATORS, INCLUDING TRAVEL TIME. LINE 1H - RALLIES, DEMONSTRATIONS, SEMINARS, CONVENTIONS, SPEECHES, LECTURES, OR ANY SIMILAR MEANS: SPEECHES; RALLIES; CONFERENCES WHERE CR STAFF SUPPORTS OR OPPOSES STATE OR FEDERAL LEGISLATION PUBLICLY. 11935255 11935255 71248439 49927651 21320788 795261 572329 222932 26033042 23312772 2720270 117818721 96655308 21163413 57362658 290000 PENSION LIABILITY 17114930 CHARITABLE GIFT ANNUITY 8559214 LIABILITY DERIVATIVE INSTRUMENT 5040966 457(B) LIABILITY 4511000 ASC 712 LIABILITY 1883356 OPERATING LEASE LIABILITY 1236000 LIFETIME SUBSCRIBER LIABILITY 1191000 OTHER DEFERRED 789604 40616070 X 350713000 61793325 13537634 75330959 275382041 374115 -203595 170520 275552561 238903000 0 238903000 374115 -204867 169248 239072248 PART X, LINE 2: FIN 48 UNCERTAINTY IN TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, CONSUMER REPORTS [CR] IS EXEMPT FROM TAXES ON INCOME, EXCEPT FOR UNRELATED BUSINESS INCOME. FOR THE YEARS ENDED MAY 31, 2021 AND 2020, PROVISIONS FOR INCOME TAXES WERE $1,362,000 AND $993,000, RESPECTIVELY. IN ACCORDANCE WITH ASC TOPIC 740, INCOME TAXES, CR EVALUATED ITS TAX POSITIONS AND DETERMINED THAT ALL ARE MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION. ACCORDINGLY, CR BELIEVES THAT THERE ARE NO UNRECOGNIZED BENEFITS OR APPLICABLE INTEREST AND PENALTIES THAT SHOULD BE RECORDED. CR'S TAX RETURNS FOR THE FISCAL YEARS ENDED MAY 31, 2018, 2019 AND 2020 ARE SUBJECT TO EXAMINATION BY FEDERAL, STATE AND LOCAL AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: PENSION RELATED CHARGES 11,103,200. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 402,000. UNREALIZED LOSS ON INTEREST RATE SWAP 2,032,434. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -204,782. OTHER ROUNDING 1,187. PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -204,782. OTHER ROUNDING -85. 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X X X X 1 GIFT STRATEGIES LLC 1539 FALL RIVER AVE SUITE 3 SEEKONK MA 02771 PLANNED GIVING AND BEQUEST PROGRAM DEVELOPMENT AND LEADERSHI 0 0 43721 -43721 JULIA LEIBEE 1839 NORTH KINGSLEY DRIVE 5 LOS ANGELES CA 90027 STRATEGIC AND CREATIVE CONSULTING ON GRANT PROPOSALS. 0 0 20275 -20275 PARISE MARKETING GROUP INC 2487 ROUTE 55 SUITE E HOPEWELL JUNCTION NY 12533 STRATEGIC AND CREATIVE CONSULTING ON DIRECT MAIL FUNDRAISING 0 0 54000 -54000 SAGE COMMUNICATIONS 28 JOHN H FINLEY III WAY STE 202 FRAMINGHAM MA 017014193 STRATEGIC AND CREATIVE CONSULTING ON DIRECT MAIL FUNDRAISING 0 0 13500 -13500 EIDOLON COMMUNICATIONS 15 MAIDEN LN STE 1401 NEW YORK NY 100385113 STRATEGIC AND CREATIVE CONSULTING ON DIRECT MAIL FUNDRAISING 0 0 36000 -36000 TOM GAFFNY CONSULTING 71 CLIFF ROAD WELLESLEY MA 02481 STRATEGIC AND CREATIVE CONSULTING ON DIRECT MAIL FUNDRAISING 0 0 21550 -21550 189046 -189046 AL AK AR CA CO CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI 1 DUKE UNIVERSITY 324 BLACKWELL ST DURHAM NC 22701 560532129 501(C)(3) 80000 ARCHIVES PROJECT NEW YORK UNIVERSITY 25 WEST 4TH STREET 4TH FLOOR NEW YORK NY 100121119 135562308 501(C)(3) 50000 NYC MEDIA LAB CENTER FOR AUTO SAFETY 4400 JENIFER ST NW SUITE 331 WASHINGTON DC 200152113 520902868 501(C)(3) 10000 AUTO SAFETY ADVOCACY 3 0 CRITERIA FOR SELECTING PROJECTS FOR FUNDING THE CRITERIA FOR SELECTING PROJECTS FOR FUNDING INCLUDES THE FOLLOWING: -THE PROJECTS ARE CONSISTENT WITH CR'S MISSION TO PROVIDE INFORMATION AND ADVICE TO CONSUMERS ON GOODS, SERVICES, HEALTH AND PERSONAL FINANCE; AND TO INITIATE AND COOPERATE WITH INDIVIDUAL AND GROUP EFFORTS TO MAINTAIN AND ENHANCE THE QUALITY OF LIFE FOR CONSUMERS. -THE PROJECTS ARE HIGH IMPACT PROJECTS THAT PROVIDE A SIGNIFICANT RETURN FOR THE AMOUNT OF MONEY INVESTED. THEY ARE RESULT-ORIENTED, AND HAVE TANGIBLE GOALS AND OBJECTIVES. -IF POSSIBLE, THE PROJECTS ARE REPLICABLE, AND PROVIDE A MODEL FOR ORGANIZING AND ADVOCACY ON OTHER CONSUMER AND PUBLIC INTEREST ISSUES, OR IN OTHER LOCATIONS. -THE PROJECTS MUST MAKE SENSE IN THE CONTEXT OF THE NEEDS AND SUSTAINABILITY OPPORTUNITIES OF THE OVERALL CONSUMER MOVEMENT. -BECAUSE OUR FUNDS ARE LIMITED, OUR OPERATING STRATEGY IS TO IDENTIFY PROSPECTIVE GRANTEES AND INVITE THEM TO APPLY. MOST GRANTS ARE AWARDED TO PRE-SELECTED ORGANIZATIONS. MONITORING GRANT FUNDS GRANTEES ARE REQUIRED TO SUBMIT PROGRAM AND FINANCIAL REPORTS AT THE CONCLUSION OF THE PROJECT, INCLUDING A LIST OF GRANT-RELATED EXPENDITURES, AND A SUMMARY OF DELIVERABLES AND PROJECT RESULTS. THE TIMING OF THE REPORTS IS DETERMINED ACCORDING TO A SCHEDULE CONTAINED IN AN EXECUTED AGREEMENT BETWEEN CR AND THE GRANTEE. X X X X X 1 0 0 0 0 0 0 0 0 MARTA L TELLADO PRESIDENT & CEO 715500 0 0 0 47124 0 28500 0 3017 0 794141 0 0 0 LEONORA WIENER SR. VP & COO 481150 0 0 0 23234 0 28500 0 15080 0 547964 0 0 0 JASON FOX VP, CHIEF DIGITAL OFFICER 398623 0 0 0 15571 0 28500 0 39078 0 481772 0 0 0 MICHAEL HUBNER VP, GENERAL COUNSEL 415846 0 0 0 17493 0 28500 0 1226 0 463065 0 0 0 LIAM MCCORMACK VP, RESEARCH, TEST & INSIGHTS 388590 0 0 0 13775 0 28500 0 27101 0 457966 0 0 0 ERIC WAYNE SR. VP & CFO 372478 0 0 0 13328 0 28500 0 41828 0 456134 0 0 0 LAUREN STANICH VP, CHIEF MARKETING OFFICER 380325 0 0 0 3612 0 20604 0 37371 0 441912 0 0 0 GWENDOLYN BOUNDS VP, CHIEF CONTENT OFFICER 389550 0 0 0 13793 0 28500 0 2932 0 434775 0 0 0 ESTHER HAN VP, NEW PRODUCTS & SERVICE 325443 0 0 0 19083 0 28463 0 30898 0 403887 0 0 0 SHAR TAYLOR VP, CHIEF SOCIAL IMPACT OFFICER 332943 0 0 0 6694 0 25350 0 15320 0 380307 0 0 0 PETER DIRENZO CHIEF TECHNOLOGY OFFICER 305004 0 0 0 5056 0 28500 0 38822 0 377382 0 0 0 HEATH GRAYSON CHIEF PRIVACY OFFICER & DEPUTY GC 303426 0 0 0 5949 0 28500 0 39371 0 377246 0 0 0 RAFAEL PEREZ VP, CHIEF HR OFFICER 301157 0 0 0 2682 0 19731 0 34124 0 357694 0 0 0 MATTHEW ANCHIN VP CHIEF COMM OFCR THRU 04/03/20 93150 0 0 0 244768 0 9324 0 2086 0 349328 0 0 0 PART I, LINE 4A SEVERANCE PAYMENT - MATTHEW ANCHIN - $220,405 A CYIDA MULTI-MOD CIV FAC REV BONDS S 2005 521294255 986083BN2 2005-12-22 47300000 REFINANCE & RENOS OR HQ FACILITY 0 0 0 A 13300000 47300000 560305 1066734 9980132 35692829 2007 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 1 MORGAN STANLEY 30.500000000000 0 0 0 0 0 A 0 PART II, LINE 11 - OTHER SPENT PROCEEDS $35,045,813 OF BOND PROCEEDS WERE USED TO REFUND BONDS ISSUED IN 1989, 1991, AND 1995. ISSUER FEE, TITLE INSURANCE, STATE BOND ISSUANCE CHARGE, SURVEY AND RECORDING FEES: $647,016 PART III, LINE 9 - ESTABLISHMENT OF WRITTEN PROCEDURES ON MAY 31, 2015, CR IMPLEMENTED A PROCESS TO MONITOR PRIVATE BUSINESS USE OF THE FACILITY. IN ADDITION, CR CONDUCTED A REVIEW OF THE PAST 5 YEARS OF THE FACILITY USE AND DETERMINED THAT NO PRIVATE USE OF THE FACILITY HAD OCCURRED THAT WAS NOT IN COMPLIANCE WITH THE NEW POLICY. X 19 55382 FAIR MARKET VALUE 0 1 0 SCHEDULE M, PART I, COLUMN (B) THE NUMBER 19 REPRESENTS THE NUMBER OF GIFT ITEMS OR CONTRIBUTORS THAT DONATED OF PUBLICLY TRADED SECURITIES RECEIVED BY CONSUMER REPORTS, INC. IN FISCAL YEAR 2021. EACH GIFT ITEM OR CONTRIBUTOR HAS EITHER ONE OR MULTIPLE SHARES OF PUBLICLY TRADED SECURITIES THAT WERE DONATED TO THE ORGANIZATION. THESE SECURITIES ARE SOLD FOR CASH PROMPTLY AFTER CR TAKES POSSESSION. FORM 990, PART III, LINE 4A CONSUMER INFORMATION: CONSUMER REPORTS PUBLISHES AND DISSEMINATES INFORMATION AND ADVICE TO CONSUMERS REGARDING TOPICS SUCH AS CONSUMER GOODS, SERVICES, HEALTH AND PERSONAL FINANCE IN ORDER TO EFFECT IT'S EDUCATIONAL PURPOSE. THE NUMBER OF PAID SUBSCRIBERS FOR EACH AS OF 5/31/21 INCLUDE CONSUMER REPORTS MAGAZINE 3,074,597; CONSUMER REPORTS ON HEALTH 565,157; AND CR ONLINE 2,930,279. CONSUMER REPORTS DOES NOT ACCEPT OUTSIDE ADVERTISING IN ANY OF ITS PUBLICATIONS. IN ADDITION, CONSUMER REPORTS DISSEMINATES CONSUMER INFORMATION THROUGH OTHER PRINT, RADIO, TELEVISION, ELECTRONIC PUBLISHING AND INTERACTIVE MEDIA. PRODUCT INFORMATION: CONSUMER REPORTS CONDUCTS INDEPENDENT AND IMPARTIAL TESTS AND ANALYSES ON A WIDE RANGE OF CONSUMER PRODUCTS AND SERVICES, SUCH AS ELECTRONICS, APPLIANCES, HOUSEHOLD PRODUCTS, INSURANCE, RECREATIONAL GOODS, AND CARS. THE TESTS AND SURVEYS EVALUATE HOW THE PRODUCTS AND SERVICES PERFORM AND EDUCATE CONSUMERS ON THE EXTENT TO WHICH THEY ARE CONVENIENT, SAFE, AND ECONOMICAL. DURING THE FISCAL YEAR ENDED 5/31/21, CONSUMER REPORTS CONDUCTED TESTS AND EVALUATIONS ON MORE THAN 2,100 MODELS OF VARIOUS CONSUMER PRODUCTS, MAKING USE OF ABOUT 60 LABORATORIES AND ITS AUTO TRACK. THE INFORMATION GATHERED AS RESULT OF THESE TESTS IS DISSEMINATED TO THE GENERAL PUBLIC AS DESCRIBED ABOVE. FORM 990, PART III, LINE 4B EDUCATION AND ADVOCACY PROGRAMS: CONSUMER REPORTS IS DEDICATED TO IMPROVING THE LIVES OF CONSUMERS AND CREATING A FAIR AND JUST MARKETPLACE FOR ALL OF US. WE ARE AN INDEPENDENT, NONPROFIT ORGANIZATION WITH 6 MILLION MEMBERS ACROSS THE U.S. CR SEEKS TO INFORM AND EMPOWER CONSUMERS TO ESTABLISH A NEW ERA OF CONSUMER RIGHTS. IN THE 85 YEARS SINCE CR WAS FOUNDED, WE HAVE BUILT A LEGACY OF TRUST AMONG CONSUMERS BY CONDUCTING EXPERT RIGOROUS SCIENCE-BASED TESTING OF PRODUCTS AND SERVICES, INCENTIVIZING CORPORATIONS TO PRIORITIZE SAFETY AND TRANSPARENCY, AND HELPING POLICYMAKERS ENSHRINE THE RIGHTS AND INTERESTS OF CONSUMERS IN LAWS AND REGULATIONS. WE PROVIDE TRUSTED INFORMATION THROUGH TESTING, RATINGS, AND REVIEWS; SURVEYS, REPORTS AND ANALYSES; AND INVESTIGATIVE AND SERVICE JOURNALISM - ALL OF WHICH IS DISSEMINATED THROUGH MULTIPLE DIGITAL AND PRINT PLATFORMS THAT REACH MORE THAN 15 MILLION PEOPLE EACH MONTH. THE PUBLIC CAN ACCESS SUBSTANTIAL FREE CONSUMER EDUCATION INFORMATION AS A PUBLIC SERVICE THROUGH CR.ORG, CR SOCIAL MEDIA CHANNELS, WEBINARS, PARTNERSHIPS WITH 170 ENGLISH AND SPANISH LOCAL TV STATIONS, AND MEDIA COVERAGE. THESE COMBINED EFFORTS LEVERAGE CONSUMER DEMAND TO SHAPE A PRO-CONSUMER MARKETPLACE, AND WE ENGAGE DIRECTLY WITH INDUSTRY TO SET STANDARDS AND PROMOTE SAFETY, DIGITAL RIGHTS, FINANCIAL FAIRNESS AND SUSTAINABILITY PRINCIPLES IN THE DESIGN AND DELIVERY OF PRODUCTS AND SERVICES. CONSUMER REPORTS' LONGSTANDING COMMITMENT TO EDUCATING CONSUMERS AND ADVOCATING FOR LAWS, POLICIES AND PRACTICES THAT BENEFIT CONSUMERS IS EXEMPLIFIED BY OUR FY 21 (JUNE 1, 2020 THROUGH MAY 31, 2021) ACCOMPLISHMENTS, SOME OF WHICH INCLUDE: SAFETY: - MAJOR NEW SAFETY STANDARD APPROVED FOR INFANT SLEEP PRODUCTS THE U.S. CONSUMER PRODUCT SAFETY COMMISSION (CPSC) APPROVED A NEW FEDERAL RULE THAT WILL ENSURE THAT PRODUCTS MARKETED OR INTENDED FOR INFANT SLEEP WILL PROVIDE A SAFE SLEEP ENVIRONMENT FOR BABIES UNDER 5 MONTHS OLD. BEGINNING IN MID-2022, ANY PRODUCT INTENDED OR MARKETED FOR INFANT SLEEP MUST MEET A FEDERAL SAFETY STANDARDS REQUIREMENT THAT DOES NOT EXIST TODAY. THE RULE WAS DRAFTED IN FY21, AND FINALIZED IN THE FIRST DAYS OF FY22. THIS LANDMARK RULE COMES AFTER YEARS OF WORK BY CR, PEDIATRICIANS, AND OTHER SAFETY ADVOCATES TO SHINE A LIGHT ON THE DANGERS OF INFANT SLEEP PRODUCTS THAT WERE MANUFACTURED WITHOUT SAFETY REQUIREMENTS. MORE THAN 100 INFANT DEATHS ARE ASSOCIATED WITH INCLINED SLEEPERS, AND AT LEAST 23 DEATHS ARE LINKED TO UNREGULATED FLAT SLEEP PRODUCTS, INCLUDING IN-BED SLEEPERS, ACCORDING TO A CR ANALYSIS AND DATA FROM THE CPSC. THE PUSH FOR A SAFETY RULE WAS ACCELERATED BY CR'S INVESTIGATION OF DANGEROUS BABY PRODUCTS, WHICH LED TO THE RECALL OF 5.6 MILLION INCLINED SLEEPERS IN FY19 AND FY20. CR SHARED FINDINGS WITH RETAILERS SUCH AS AMAZON, BUY BUY BABY, EBAY, AND WALMART, WHICH EVENTUALLY AGREED TO HALT SALES OF INCLINED SLEEP PRODUCTS IN FY21. THOUSANDS OF CR MEMBERS WROTE THE CPSC AND CONGRESS IN SUPPORT OF SAFETY STANDARDS, AND CR ADVOCATES WORKED WITH THE CPSC TO HELP SHAPE AND ADVANCE THIS HISTORIC RULE. CR PROVIDES CONSUMERS WITH FREE INFORMATION ON OUR WEBSITE AND SOCIAL MEDIA CHANNELS ABOUT THE DANGERS OF THESE INFANT SLEEP PRODUCTS, AS WELL AS THE EXPERT ADVICE PROVIDED BY THE AMERICAN ACADEMY OF PEDIATRICS ABOUT THE STEPS THAT PARENTS AND CAREGIVERS CAN TAKE TO HELP ENSURE SAFE SLEEP FOR THEIR BABIES. - CR EXPOSES PFAS CHEMICALS IN TAP WATER, WORKS TO REMOVE PFAS FROM WATER, FOOD, AND AIR 97.5% OF TAP WATER SAMPLES TESTED BY CR HAD MEASURABLE LEVELS OF PFAS, A GROUP OF COMPOUNDS KNOWN AS "FOREVER CHEMICALS" BECAUSE THEY DON'T NATURALLY BREAK DOWN. PFAS ARE LINKED TO LEARNING DELAYS IN CHILDREN, CANCER, AND OTHER HEALTH PROBLEMS. THESE FINDINGS WERE PART OF A YEAR-LONG EXAMINATION OF THE NATION'S WATER CONDUCTED BY CR AND THE GUARDIAN US. WE SELECTED 120 PEOPLE AROUND THE NATION, OUT OF A POOL OF MORE THAN 6,000 VOLUNTEERS, TO TEST THEIR TAP WATER FOR PFAS, ARSENIC, LEAD, AND OTHER CONTAMINANTS. THEIR SAMPLES CAME FROM WATER SYSTEMS THAT TOGETHER SERVE MORE THAN 19 MILLION PEOPLE. CR IS NOW PROVIDING FREE INFORMATION FOR CONSUMERS ON HOW TO CHECK, TEST, AND FILTER THEIR WATER FOR PFAS, AND WE ARE WORKING WITH MEMBERS OF CONGRESS TO PASS THE BIPARTISAN "PFAS ACTION ACT." THIS BILL WOULD HELP MINIMIZE HARMFUL EXPOSURE TO THESE CHEMICALS BY REQUIRING STRICT STANDARDS TO KEEP PFAS OUT OF OUR AIR AND WATER, AND IT WOULD FACILITATE THE CLEANUP OF CONTAMINATED SITES THAT POLLUTE COMMUNITIES AND ENDANGER PUBLIC HEALTH. CALIFORNIA RECENTLY BECAME THE SEVENTH STATE IN THE NATION TO BAN PFAS IN FOOD PACKAGING. CR MOBILIZED CALIFORNIA CONSUMERS TO CONTACT THEIR STATE LEGISLATORS AND URGE THEM TO VOTE "YES" ON THE BAN. - CR PUSHES TO RAISE THE STANDARDS FOR FURNITURE SAFETY 11,300 CHILDREN WERE TREATED IN HOSPITAL EMERGENCY ROOMS FOR INJURIES RELATED TO FURNITURE TIP-OVERS EACH YEAR, ON AVERAGE, BETWEEN 2017 AND 2019, ACCORDING TO THE CPSC. CR HAS TESTED DRESSERS FOR STABILITY SINCE 2018. OUR TESTS SHOW THAT SOME DRESSERS POSE A SERIOUS TIP-OVER RISK, WHILE THERE ARE STABLE CHOICES AVAILABLE AT A VARIETY OF PRICE POINTS. MANUFACTURERS HAVE ONLY A VOLUNTARY STABILITY STANDARD, WHICH CR HAS ASSESSED AS TOO WEAK, AND A SHOPPER CANNOT JUDGE WHETHER A DRESSER IS LIKELY TO TIP OVER BY SIGHT OR PRICE. CR IS WORKING WITH PARENTS OF CHILDREN WHO WERE KILLED IN TRAGIC TIP-OVER INCIDENTS TO URGE THE FEDERAL GOVERNMENT TO RAISE THE STANDARDS FOR FURNITURE SAFETY. WE CELEBRATED A WIN IN FY21 WHEN THE U.S. HOUSE OF REPRESENTATIVES PASSED THE STURDY ACT, A BILL TO CREATE A MANDATORY NATIONAL RULE FOR FURNITURE STABILITY. CR CONTACTED COMPANIES TO URGE THEM TO ENDORSE THE STURDY ACT, AND RETAILERS SUCH AS HOME DEPOT, IKEA, AND AMAZON CAME OUT IN SUPPORT OF THE BILL. WE'RE NOW FOCUSED ON GETTING THE STURDY ACT APPROVED IN THE SENATE AND SIGNED INTO LAW BY THE PRESIDENT. FORM 990, PART III, LINE 4B (CONTINUED) DIGITAL RIGHTS: - STATES APPROVE LAWS TO SAFEGUARD CONSUMERS' DIGITAL PRIVACY THREE U.S. STATES HAVE NOW PASSED DATA PRIVACY LAWS, AND CR HELPED GET THESE MEASURES TO THE GOVERNORS' DESKS. COLORADO AND VIRGINIA APPROVED LAWS IN 2021, FOLLOWING THE CALIFORNIA CONSUMER PRIVACY ACT SIGNED IN 2018. THESE LAWS PROVIDE LOCAL RESIDENTS WITH THE RIGHT TO ACCESS, DELETE, AND STOP THE SALE OF THEIR PERSONAL INFORMATION, AND THEY REQUIRE CONSENT FOR PROCESSING SENSITIVE INFORMATION. CR ADVOCATES TESTIFIED BEFORE THE LEGISLATURES TO RECOMMEND WAYS TO GIVE CONSUMERS MORE CONTROL OVER THEIR PRIVACY. CR MEMBERS IN THESE STATES CONTACTED THEIR LOCAL LEGISLATORS IN SUPPORT OF PRIVACY PROTECTIONS. THE COLORADO AND VIRGINIA LAWS ARE NOT AS STRONG AS CALIFORNIA'S, AND CR IS ADVOCATING FOR IMPROVEMENTS BEFORE THE TWO LAWS TAKE EFFECT IN 2023. CR ALSO HELPED PASS CALIFORNIA'S PROPOSITION 24 TO CLOSE LOOPHOLES IN ITS LAW. THE CALIFORNIA ATTORNEY GENERAL'S OFFICE CITED A CR REPORT ON HOW SOME COMPANIES WERE MAKING IT HARD FOR CONSUMERS TO EXERCISE THEIR PRIVACY RIGHTS, AS THE STATE TOOK ACTIONS TO BETTER ENFORCE THE LAW. ULTIMATELY, CR WOULD LIKE TO SEE A NATIONAL PRIVACY LAW THAT PROTECTS THE DATA OF ALL CONSUMERS. - CR AIMS TO HELP REIN IN "BIG TECH" SO CONSUMERS HAVE MORE CHOICE, POWER IN A NATIONALLY-REPRESENTATIVE SURVEY CONDUCTED BY CR IN 2020, 61 PERCENT OF U.S. CONSUMERS FAVORED STRONGER GOVERNMENT ACTION INCLUDING NEW LAWS, REGULATIONS, AND ENFORCEMENT TO DISCIPLINE THE BIGGEST TECH PLATFORMS AND REDUCE HARMFUL CONDUCT. THIS CR SURVEY WAS HIGHLIGHTED BY THE U.S. HOUSE ANTITRUST SUBCOMMITTEE IN A MAJOR REPORT THAT LAID OUT HOW LARGE ONLINE PLATFORMS HAVE ENGAGED IN ANTICOMPETITIVE PRACTICES. THE REPORT DETAILED HOW FOUR FIRMS -- APPLE, AMAZON, FACEBOOK AND GOOGLE -- HAVE, IN THE REPORT'S WORDS, "DELIVERED CLEAR BENEFITS TO SOCIETY" BUT THEIR "DOMINANCE HAS COME AT A PRICE." THE REPORT STATED THAT THESE FIRMS "WIELD THEIR DOMINANCE IN WAYS THAT ERODE ENTREPRENEURSHIP, DEGRADE AMERICANS' PRIVACY ONLINE, AND UNDERMINE THE VIBRANCY OF A FREE AND DIVERSE PRESS. THE RESULT IS LESS INNOVATION, FEWER CHOICES FOR CONSUMERS, AND A WEAKENED DEMOCRACY." IN ADDITION TO SPOTLIGHTING CR'S SURVEY, THE REPORT CITED COMMENTS FROM CR ON THE SCOPE AND IMPACT OF THESE PROBLEMS. CR IS NOW WORKING WITH MEMBERS OF CONGRESS TO ADVANCE BIPARTISAN BILLS THAT AIM TO REIN IN BIG TECH COMPANIES SO CONSUMERS HAVE MORE CHOICE AND POWER ONLINE. - WORKING FOR BETTER BROADBAND AT A FAIR PRICE FOR ALL CONSUMERS 76 PERCENT OF AMERICANS AGREED THAT INTERNET SERVICE IS AS IMPORTANT AS RUNNING WATER AND ELECTRICITY, ACCORDING TO A 2021 CR SURVEY. BUT UNLIKE WATER AND ELECTRICITY, INTERNET ACCESS ISN'T TREATED LIKE AN ESSENTIAL SERVICE IN THE UNITED STATES. CONSUMER DATA SHOW HOW THE PRICE OF INTERNET SERVICE CONTINUES TO RISE, WHILE INTERNET PROVIDERS ARE LARGELY UNREGULATED, AND MANY AMERICANS ARE STRUGGLING TO GET ONLINE BECAUSE THERE'S NO AFFORDABLE OR RELIABLE BROADBAND WHERE THEY LIVE. THIS PROBLEM IS ESPECIALLY SERIOUS GIVEN HOW THE ONGOING IMPACT OF THE PANDEMIC HAS FORCED MILLIONS OF PEOPLE TO WORK, LEARN AND STAY IN TOUCH WITH OTHERS ONLINE. THAT'S WHY CR LAUNCHED "LET'S BROADBAND TOGETHER," A NATIONWIDE INITIATIVE TO UNCOVER WHAT PEOPLE ARE REALLY PAYING AND GETTING FOR THEIR INTERNET SERVICE, SO WE CAN FIND SOLUTIONS FOR BETTER, MORE AFFORDABLE BROADBAND FOR ALL OF US. THIS EFFORT WAS ORGANIZED WITH A BROAD COALITION OF PARTNERS IN FY21 AND OFFICIALLY LAUNCHED IN FY22. SO FAR, MORE THAN 50,000 CONSUMERS HAVE PARTICIPATED IN "LETS BROADBAND TOGETHER," WHICH INCLUDES AN ONLINE TOOL FOR PEOPLE TO TEST THEIR INTERNET SPEEDS AND SHARE THEIR PERSONAL EXPERIENCES WITH THEIR INTERNET PROVIDERS. CR IS GATHERING TENS OF THOUSANDS OF CONSUMER BILLS TO ANALYZE THE FACTORS THAT MAY IMPACT THE PRICE AND AVAILABILITY OF BROADBAND. CR WILL RELEASE ITS FINDINGS IN FY22, AND WE WILL SHARE THE DATA WITH COMPANIES AND POLICYMAKERS AS WE ADVOCATE FOR POLICIES THAT PUT CONSUMERS FIRST. FINANCIAL FAIRNESS: - NEW, NATIONAL LAW WILL PROVIDE CONSUMER PROTECTIONS AGAINST SURPRISE MEDICAL BILLS HUGE, UNEXPECTED MEDICAL BILLS CAN HAVE A DEVASTATING FINANCIAL IMPACT ON PATIENTS AND THEIR FAMILIES WHEN THEY'RE MOST VULNERABLE. FOR DECADES, CR AND OTHER GROUPS HAVE CALLED FOR LAWS TO STOP SURPRISE MEDICAL BILLS, LIKE WHEN A PERSON GOES TO A HOSPITAL THAT'S IN-NETWORK BUT IS SEEN BY AN ER DOCTOR WHO'S OUT OF NETWORK, AND THEN GETS HIT WITH AN ENORMOUS BILL. THE PERSONAL STORIES OF CR MEMBERS WERE ESSENTIAL IN ELEVATING THIS ISSUE WITH POLICYMAKERS AND GETTING CONGRESS TO HOLD HEARINGS ON THE PROBLEM. IN DECEMBER 2020, CONGRESS PASSED AND THE PRESIDENT SIGNED THE "NO SURPRISES ACT," A LANDMARK LAW THAT WILL PROHIBIT MANY OF THE WORST BILLING PRACTICES. THE CR-ENDORSED LAW GOES INTO EFFECT AT THE START OF 2022. CR CONTINUES TO PROVIDE FREE ONLINE INFORMATION TO HELP PATIENTS FIGHT BACK AGAINST SURPRISE CHARGES UNTIL THE LAW TAKES EFFECT. - CRACKING DOWN ON STUDENT LOAN SERVICER ABUSES, CREATING A NEW FINANCIAL WATCHDOG IN CALIFORNIA FOR TOO MANY FAMILIES, PAYING FOR COLLEGE MEANS GOING INTO DEBT THAT HAUNTS THEM FOR YEARS BEFORE IT'S PAID OFF. BORROWERS FACE A COMPLEX, CONFUSING LOAN REPAYMENT SYSTEM PLAGUED BY A LACK OF CONSUMER PROTECTIONS AND SHODDY TREATMENT THAT CAN ADD TIME AND MONEY TO THEIR LOANS. STUDENT LOAN DEBT IN THE U.S. TOTALS $1.73 TRILLION AND GROWS SIX TIMES FASTER THAN THE NATION'S ECONOMY. CR HELPED PASS TWO MAJOR INITIATIVES IN CALIFORNIA TO ADDRESS THE STUDENT DEBT CRISIS AND OTHER FINANCIAL CHALLENGES. FIRST, THE STATE CREATED A NEW CONSUMER WATCHDOG CALLED THE DEPARTMENT OF FINANCIAL PROTECTION AND INNOVATION (DFPI). CR HELPED DESIGN AND LAUNCH THIS AGENCY WITH A MISSION TO STOP FINANCIAL SCAMS AND ABUSES, AND PROVIDE RELIEF FOR IMPACTED CONSUMERS. ONE OF DFPI'S AIMS IS TO HELP PROTECT THE 3.7 MILLION BORROWERS IN CALIFORNIA WHO OWE ALMOST $125 BILLION IN STUDENT LOAN DEBT. CR ALSO CO-SPONSORED THE STATE'S NEW STUDENT BORROWER BILL OF RIGHTS, WHICH PROVIDES THE NATION'S STRONGEST CONSUMER PROTECTIONS FOR PEOPLE WITH STUDENT LOANS. THE LAW AIMS TO STOP LOAN SERVICING ABUSES THAT CAN MAKE DEBTS GROW MORE COSTLY AND TRIGGER DEFAULTS. BOTH OF THESE REFORMS PROVIDE POWERFUL MODELS FOR OTHER STATES AND THE NATION TO FOLLOW. - CLEANING UP THE CREDIT REPORT SYSTEM ERRORS ON YOUR CREDIT REPORTS CAN LOWER YOUR CREDIT SCORE, LEAD TO HIGHER INTEREST RATES ON LOANS, AND EVEN PREVENT YOU FROM GETTING A JOB OR RENTING AN APARTMENT. CREDIT ERRORS CAN INCLUDE ACCOUNTS THAT HAVE BEEN PAID OFF BUT APPEAR UNPAID ON YOUR REPORT, INDIVIDUAL LOANS LISTED MULTIPLE TIMES, OR DEBTS THAT ARE INCORRECTLY REPORTED IN COLLECTIONS. NEARLY 6,000 CONSUMERS VOLUNTEERED TO GET THEIR CREDIT REPORTS AND CHECK FOR ERRORS FOR A CR INVESTIGATION IN FY21. MORE THAN A THIRD OF THE VOLUNTEERS TOLD US THEY FOUND AT LEAST ONE ERROR. MANY PEOPLE ALSO REPORTED HAVING DIFFICULTY OBTAINING THEIR FREE CREDIT REPORTS ONLINE, WHILE OTHERS SAID THEY WERE UNFAIRLY CHARGED FOR SERVICES. CR IS NOW PETITIONING THE THREE MAJOR CREDIT BUREAUS -- EQUIFAX, EXPERIAN, AND TRANSUNION -- TO CALL FOR INDUSTRY REFORMS TO ENSURE REPORTS ARE FAIR AND ACCURATE. CR IS ALSO PUSHING FOR LEGISLATION IN CONGRESS THAT WOULD HELP CLEAN UP THE CREDIT REPORTING SYSTEM, AND GIVE CONSUMERS 24-HOUR ACCESS TO THEIR REPORTS AND SCORES AT NO CHARGE. FORM 990, PART III, LINE 4B (CONTINUED) CLIMATE-ENERGY-SUSTAINABILITY: - CR INTRODUCES "GREEN CHOICE" TO HELP CONSUMERS FIND CLEAN CARS AND OTHER ENVIRONMENTALLY-FRIENDLY PRODUCTS CR LAUNCHED A NEW PRODUCT RATING CALLED "GREEN CHOICE" TO HELP SHOPPERS FIND THE CARS, SUVS, AND MINIVANS WITH THE CLEANEST EMISSIONS. WHEN PEOPLE CONSULT CR'S VEHICLE RATINGS, THE "GREEN CHOICE" LEAF ICON TELLS THEM WHICH MODELS HAVE THE LOWEST GREENHOUSE GAS AND SMOG-FORMING EMISSIONS. THE GREEN CHOICE RATING ENCOURAGES AUTOMAKERS TO MAKE CLEANER CARS, JUST AS CR'S AUTO RELIABILITY AND OWNER SATISFACTION INFORMATION HELPS MOVE THE INDUSTRY TOWARD PRODUCING SAFER, HIGHER-QUALITY VEHICLES. CR RECENTLY EXPANDED OUR GREEN CHOICE RATING TO WASHING MACHINES TO HELP PEOPLE IDENTIFY THE MOST ENVIRONMENTALLY-FRIENDLY CHOICES. - CR WORKS FOR CLEAN CAR STANDARDS AT THE STATE AND NATIONAL LEVEL CR IS ADVOCATING FOR STRONG STANDARDS FOR CLEANER CARS WITH BETTER FUEL ECONOMY AND FEWER EMISSIONS, WHICH CAN HELP CONSUMERS SAVE MONEY ON GAS AND MAINTENANCE, WHILE REDUCING CLIMATE POLLUTION. IN FY21 CR PRODUCED A SERIES OF STUDIES THAT SHOWED HOW THE FEDERAL GOVERNMENT'S FUEL ECONOMY AND GREENHOUSE GAS STANDARDS PROVIDED SIGNIFICANT COST SAVINGS FOR CAR BUYERS AND HEALTH BENEFITS FOR THE GENERAL POPULATION. THESE STUDIES SHOWED HOW A 2020 GOVERNMENT DECISION TO ROLL BACK THESE STANDARDS WOULD NEGATIVELY IMPACT CONSUMERS. NOW IN FY22, CR IS PROVIDING TESTIMONY AND ANALYSIS FOR A NEW SET OF GOVERNMENT RECOMMENDATIONS TO UNDO THE ROLLBACK AND PUT STRONGER STANDARDS IN PLACE. AT THE STATE LEVEL, CR WORKED WITH LOCAL RESIDENTS AND GRASSROOTS GROUPS IN VIRGINIA, MINNESOTA, AND NEVADA TO ADVANCE CLEAN CAR PROGRAMS. THESE PROGRAMS ESTABLISH RULES AND STANDARDS THAT MAKE IT EASIER FOR CONSUMERS TO FIND A VARIETY OF LOW-EMISSION AND ZERO-EMISSION VEHICLES AT THEIR LOCAL DEALERSHIPS. CR PERFORMED STATEWIDE SURVEYS THAT SHOWED WIDE CONSUMER INTEREST AND SUPPORT FOR CLEAN CAR INITIATIVES, AND CR REACHED OUT TO STATE OFFICIALS TO MAKE THE CASE FOR THESE PROGRAMS. VIRGINIA AND MINNESOTA OFFICIALS VOTED TO BECOME CLEAN CAR STATES IN FY21, AND WE JUST CELEBRATED ANOTHER WIN AS NEVADA BECAME THE 16TH CLEAN CAR STATE IN FY22. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS, STOCKHOLDERS CONSUMER REPORTS IS A NEW YORK STATE NOT-FOR-PROFIT MEMBERSHIP CORPORATION. THE MEMBERS FOR NEW YORK NOT-FOR-PROFIT LAW PURPOSES ARE ANY INDIVIDUAL WITH A PAID MEMBERSHIP TO THE CONSUMER REPORTS MEMBERSHIP PROGRAM. MEMBERS CAN ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING OF MEMBERS; ADOPT, AMEND OR REPEAL THE BY-LAWS OF THE CORPORATION; CALL A SPECIAL MEETING OF THE MEMBERS UNDER CERTAIN CIRCUMSTANCES; AND EXERCISE SUCH OTHER POWERS AS ARE PROVIDED BY LAW. FORM 990, PART VI, SECTION A, LINE 7A SEE EXPLANATION ON LINE 6 ABOVE. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE 990 IS PREPARED UTILIZING THE ASSISTANCE OF AN INDEPENDENT ACCOUNTING FIRM, KPMG. THE RELATED SERVICES FROM KPMG ARE APPROVED BY THE AUDIT COMMITTEE AS PART OF THE AUDIT APPROVAL PROCESS. AFTER THE 990 IS PREPARED BY CR FINANCE DEPARTMENT WITH COORDINATION WITH KPMG, IT IS REVIEWED BY THE CONTROLLER AND CFO BEFORE IT IS REVIEWED AND APPROVED BY THE AUDIT COMMITTEE. A COPY OF THE 990 IS THEN PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST COMPLIANCE PROCESS CONSUMER REPORTS' BOARD OF DIRECTORS AND STAFF MEMBERS ARE REQUIRED TO FILL OUT AND SIGN A DISCLOSURE OF INTEREST STATEMENT AND ATTESTATION OF COMPLIANCE EACH YEAR. BOARD MEMBERS' FORMS ARE REVIEWED BY A COMMITTEE OF THE BOARD; STAFF MEMBERS' FORMS ARE REVIEWED BY AN OUTSIDE INDEPENDENT REVIEWER. ANY CONFLICTS WILL BE ADDRESSED WITH THE APPLICABLE BOARD OR STAFF MEMBER, WITH UNRESOLVED CONFLICTS ADDRESSED BY THE APPROPRIATE CONFLICT OF INTEREST COMMITTEE. REMEDIES FOR CONFLICTS OF INTEREST INCLUDE RECUSAL FROM PARTICIPATION IN THE MATTER GIVING RISE TO THE CONFLICT, DISPOSING OF AN INVESTMENT, TERMINATION OF EMPLOYMENT OR RESIGNATION. FORM 990, PART VI, SECTION B, LINE 15 THE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE COMPENSATION PROVIDED TO CR'S PRESIDENT AND SENIOR EXECUTIVE STAFF TO ENSURE THAT THEY ARE CONSISTENT WITH CR'S MISSION, ARE DESIGNED TO ATTRACT AND RETAIN THE HIGH LEVELS OF LEADERSHIP TALENT NEEDED TO ACHIEVE CR'S OPERATING PLANS, AND ARE COMPLIANT WITH LAW. TO THAT END, THE GOVERNANCE COMMITTEE (1) RECOMMENDS TO THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS COMPENSATION PLANS AND PAY LEVELS FOR THE PRESIDENT, TAKING INTO ACCOUNT PEER GROUP PRACTICES AND ANY SPECIAL CONSIDERATIONS, AS WELL AS EMPLOYMENT AGREEMENTS; (2) REVIEWS THE COMPENSATION OF THE PRESIDENT AND SENIOR EXECUTIVE STAFF TO ENSURE COMPLIANCE WITH THE IRS INTERMEDIATE SANCTION REQUIREMENTS; AND (3) REVIEWS AND APPROVES (A) FOR EXECUTIVES REPORTING DIRECTLY TO THE PRESIDENT, ANY PROPOSED COMPENSATION INCREASE FOR CURRENT EXECUTIVES AND THE PROPOSED COMPENSATION FOR ANY NEW HIRE AND (B) FOR EXECUTIVES NOT REPORTING DIRECTLY TO THE PRESIDENT, (I) ANY PROPOSED COMPENSATION INCREASE THAT EXCEEDS THE ANNUAL SALARY INCREASE GUIDELINES ESTABLISHED BY HUMAN RESOURCES AND (II) THE PROPOSED COMPENSATION FOR ANY NEW EXECUTIVE HIRE THAT EXCEEDS THE MARKET MEDIAN AS REPORTED IN EXECUTIVE COMPENSATION STUDIES CONDUCTED BY A THIRD PARTY EXECUTIVE COMPENSATION CONSULTING FIRM. THE EXECUTIVE COMMITTEE'S RECOMMENDATION ON THE PRESIDENT'S COMPENSATION PLANS AND PAY LEVELS IS VOTED ON BY THE FULL BOARD OF DIRECTORS. DELIBERATIONS AND DECISIONS REGARDING THE FOREGOING COMPENSATION ARRANGEMENTS ARE CONTEMPORANEOUSLY RECORDED IN THE ORGANIZATION'S MINUTES. TO ENSURE COMPLIANCE WITH THE IRS INTERMEDIATE SANCTIONS AS REQUIRED AND MEET THE CONDITIONS FOR THE REBUTTABLE PRESUMPTION UNDER TREASURY REGULATION 53.4958-6, THE COMMITTEES THAT DETERMINE COMPENSATION OF EXECUTIVES ARE COMPOSED OF MEMBERS WHO ARE INDEPENDENT WITH RESPECT TO THE COMPENSATION ARRANGEMENTS. THE FOREGOING PROCESS FOR ESTABLISHING COMPENSATION FOR THE INDICATED PERSONS WAS LAST UNDERTAKEN IN APRIL AND MAY OF 2021. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC AVAILABILITY OF FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS CONSUMER REPORTS' ANNUAL FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC ON ITS WEBSITE, WWW.CONSUMERREPORTS.ORG. OUR GOVERNING DOCUMENTS, FORM 1023, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED LOSS INTEREST RATE SWAP 2,032,434. PENSION RELATED CHANGES 11,103,200. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 402,000. ROUNDING -1,960. CHARITABLE REMAINDER TRUST (5) ANNUITY NY N/A T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0