2020-07-15T09:33:36-05:00 2019-06-30 946214841 ARMANINO LLP 12657 ALCOSTA BLVD STE 500 SAN RAMON CA 945834600 990 2018-07-01 940399260 THE COMMONWEALTH CLUB OF CALIFORNIA COMM 4155976700 110 THE EMBARCADERO SAN FRANCISCO CA 94105 NICHOLAS C LEON VICE PRESIDENT 4155976700 2020-07-14 1 KATY BROWN P00650274 9257902600 2020-07-13 34.104.1.97 2020-07-14 13:50:12 PD P 32CDE991C152F389A30DE5702E9B7F379660D813 3DEC03AD850C6FD952F9D7BE3536A1E31300727C 2018 2021-01-29 14:40:06Z NICHOLAS C LEON 110 THE EMBARCADERO SAN FRANCISCO CA 94105 12335584 0 X WWW.COMMONWEALTHCLUB.ORG X 1903 CA TO BE THE LEADING NATIONAL FORUM OPEN TO ALL FOR THE IMPARTIAL DISCUSSION OF IMPORTANT PUBLIC ISSUES THAT AFFECT MEMBERSHIP, COMMUNITY, AND THE NATION. 54 54 43 91 552701 -33668 6418484 7941046 1691014 1932633 155695 248200 713864 932504 8979057 11054383 0 0 0 0 3645105 4562002 0 0 1678934 4609446 5342461 8254551 9904463 724506 1149920 36095231 34343588 11575968 8946560 24519263 25397028 TO BE THE LEADING NATIONAL FORUM OPEN TO ALL FOR THE IMPARTIAL DISCUSSION OF PUBLIC ISSUES IMPORTANT TO THE MEMBERSHIP, COMMUNITY, AND NATION. 0 0 7435830 1932633 GENERAL PROGRAMS - THE CLUB PROVIDES A FORUM WHERE THE NATION'S AND THE WORLD'S "THOUGHT LEADERS" ADDRESS CLUB MEMBERS AND THE GENERAL PUBLIC. THE TOPICS INCLUDE POLITICS, CULTURE, ECONOMICS, BUSINESS AND FOOD TO NAME A FEW. 7435830 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 59 0 1 43 1 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 X 54 54 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X NICHOLAS LEON 4155976700 110 THE EMBARCADERO SAN FRANCISCO CA 94105 EVELYN DILSAVER BOARD CHAIR 5.00 X X 0 0 0 JAMES STROTHER VICE CHAIR 5.00 X X 0 0 0 DR JALEH DAIE SECRETARY 5.00 X X 0 0 0 JOHN FARMER TREASURER 5.00 X X 0 0 0 ROBERT ADAMS DIRECTOR 5.00 X 0 0 0 JOHN ALLEN DIRECTOR 5.00 X 0 0 0 COURTLAND ALVES DIRECTOR (LEFT 12/18) 5.00 X 0 0 0 SCOTT ANDERSON DIRECTOR 5.00 X 0 0 0 DAN ASHLEY DIRECTOR 5.00 X 0 0 0 MASSEY BAMBARA DIRECTOR 5.00 X 0 0 0 MARY BITTERMAN DIRECTOR 5.00 X 0 0 0 HARRY BLOUNT DIRECTOR 5.00 X 0 0 0 JOHN BOLAND DIRECTOR 5.00 X 0 0 0 MICHAEL BRACCO DIRECTOR (LEFT 12/18) 5.00 X 0 0 0 MARYLES CASTO DIRECTOR 5.00 X 0 0 0 CHARLES COLLINS DIRECTOR 5.00 X 0 0 0 DENNIS COLLINS DIRECTOR 5.00 X 0 0 0 KEVIN COLLINS DIRECTOR 5.00 X 0 0 0 MARY CRANSTON DIRECTOR 5.00 X 0 0 0 SUSIE CRANSTON DIRECTOR 5.00 X 0 0 0 KERRY CURTIS DIRECTOR 5.00 X 0 0 0 DORIAN DALEY DIRECTOR 5.00 X 0 0 0 LEE DUTRA DIRECTOR 5.00 X 0 0 0 JOSEPH EPSTEIN DIRECTOR 5.00 X 0 0 0 JEFFREY FARBER DIRECTOR 5.00 X 0 0 0 PAUL FITZGERALD DIRECTOR (LEFT 12/18) 5.00 X 0 0 0 CAROL FLEMING DIRECTOR 5.00 X 0 0 0 KIRSTEN GAREN DIRECTOR (LEFT 12/18) 5.00 X 0 0 0 LESLIE GARVIN DIRECTOR 5.00 X 0 0 0 JOHN GESCHKE DIRECTOR (LEFT 12/18) 5.00 X 0 0 0 PAUL GINSBURG DIRECTOR 5.00 X 0 0 0 JAMES HORMEL DIRECTOR 5.00 X 0 0 0 MARY HUSS DIRECTOR 5.00 X 0 0 0 JULIE KANE DIRECTOR 5.00 X 0 0 0 LATA KRISHNAN DIRECTOR 5.00 X 0 0 0 JOHN LECKRONE DIRECTOR 5.00 X 0 0 0 MARY MARCY DIRECTOR 5.00 X 0 0 0 FRANK MEERKAMP DIRECTOR (LEFT 12/18) 5.00 X 0 0 0 LENNY MENDONCA DIRECTOR 5.00 X 0 0 0 ANNA MOK DIRECTOR 5.00 X 0 0 0 MAUREE PERRY DIRECTOR 5.00 X 0 0 0 DONALD PIERCE DIRECTOR 5.00 X 0 0 0 BRUCE RAABE DIRECTOR 5.00 X 0 0 0 SKIP RHODES DIRECTOR 5.00 X 0 0 0 KAUSIK RAJGOPAL DIRECTOR 5.00 X 0 0 0 BILL RING DIRECTOR 5.00 X 0 0 0 RICHARD RUBIN DIRECTOR 5.00 X 0 0 0 MARTHA RYAN DIRECTOR 5.00 X 0 0 0 GEORGE SCALISE DIRECTOR 5.00 X 0 0 0 GEORGE SMITH DIRECTOR 5.00 X 0 0 0 CHARLOTTE SHULTZ DIRECTOR 5.00 X 0 0 0 MARC SPENCER DIRECTOR 5.00 X 0 0 0 TAD TAUBE DIRECTOR 5.00 X 0 0 0 ELLEN TAUSCHER DIRECTOR (LEFT 12/18) 5.00 X 0 0 0 CHARLES TRAVERS DIRECTOR 5.00 X 0 0 0 KIMBERLY WU DIRECTOR 5.00 X 0 0 0 DON WEN DIRECTOR 5.00 X 0 0 0 COLLEEN WILCOX DIRECTOR 5.00 X 0 0 0 BRENDA WRIGHT DIRECTOR 5.00 X 0 0 0 JED YORK DIRECTOR 5.00 X 0 0 0 MARK ZITTER DIRECTOR 5.00 X 0 0 0 GLORIA C DUFFY PRESIDENT & CEO 40.00 X 212722 0 28300 NICHOLAS C LEON VICE PRESIDENT 40.00 X 180916 0 8575 MICHELLE WOOD VICE PRESIDENT 40.00 X 105225 0 25629 GEORGE DOBBINS VICE PRESIDENT 40.00 X 99349 0 6658 KIMBERLY A MAAS VICE PRESIDENT 40.00 X 97365 0 9849 695577 0 79011 3 0 1 0 GABRIEL GROUP 3190 RIDER TRAIL SOUTH EARTH CITY MO 93045 MEMBERSHIP CORRESPONDENCE 278552 PAULA LEDUC FINE CATERING 1350 PARK AVENUE EMERYVILLE CA 94608 CATERING 151786 HIGHCOM SECURITY SERVICES INC 1900 WEBSTER STREET SUITE B OAKLAND CA 94612 EVENT & BUILDING SECURITY 140496 3 988934 1260063 5692049 22992 7941046 CLUB PROGRAMS 900004 1932633 1932633 1932633 133997 133997 979320 0 979320 979320 552701 426619 1080185 965982 114203 114203 114203 111041 1260063 278247 -167206 -167206 87588 36972 50616 50616 OTHER INCOME 900099 69774 69774 69774 11054383 1932633 552701 628003 771736 246789 314494 210453 2932451 2405176 35891 491384 115356 77358 14088 23910 455323 314839 67644 72840 287136 209751 23946 53439 20641 20641 860470 628728 111053 120689 34452 34452 515784 424894 36142 54748 128014 70408 47008 10598 499933 441682 31834 26417 371727 361030 1362 9335 10701 6472 1777 2452 525276 476517 22390 26369 965398 870788 43444 51166 67235 63133 663 3439 MEMBERSHIP 432527 2266 226 430035 TAXES AND LICENSES 315070 284192 14180 16698 BOOK EXPENSES 167662 163809 0 3853 OFFSITE VENUE EXPENSES 140193 137787 53 2353 287378 215759 2863 68756 9904463 7435830 789699 1678934 132588 318345 2108049 1227544 1741891 1343304 183973 27433 224814 118990 30330080 2881526 28298975 27448554 3675445 3588914 36095231 34343588 351534 507192 600722 703676 10500000 7414844 123712 320848 11575968 8946560 X 22730843 21583397 1450469 1788420 2363162 24519263 25397028 36095231 34343588 X 1149920 48693 -320848 X X 0 1 X 1 0 X 7390513 6145780 10075331 6418484 6690783 36720891 1070888 840702 1616663 1691014 1932633 7151900 243196 220897 213154 225180 1361304 2263731 8704597 7207379 11905148 8334678 9984720 46136522 1330000 645000 1359500 1995000 2607903 7937403 0 1330000 645000 1359500 1995000 2607903 7937403 38199119 101394 88106 92410 708396 560616 1550922 101394 88106 92410 708396 560616 1550922 190 83082 142443 158185 157362 541262 8806181 7378567 12140001 9201259 10702698 48228706 0.79200 0.97500 0.03220 0.00930 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2395992 240522 89813 2546701 2368752 27240 2395992 2376224 -7472 2368752 1349420 1035000 -8196 2376224 1349420 1349420 1.00000 0 0 2295000 2295000 25661362 1149013 24512349 1222985 1014554 208431 1150733 717959 432774 27448554 INTEREST RATE SWAP AGREEMENT 320848 320848 X 11119407 48693 48693 11070714 20641 -36972 -16331 11054383 9920794 36972 36972 9883822 20641 20641 9904463 PART V, LINE 4: THE CLUB'S ENDOWMENT FUND CONSISTS OF SEVERAL DONOR-RESTRICTED ENDOWMENT FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF GOVERNORS TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE CLUB HAS A POLICY OF TRANSFERRING ANY INVESTMENT RETURNS, OTHER THAN THOSE WHICH ARE STIPULATED BY THE DONOR TO REMAIN IN PERPETUITY, TO EITHER NET ASSETS WITH DONOR RESTRICTIONS OR NET ASSETS WITHOUT DONOR RESTRICTIONS. THE CLUB'S SPENDING POLICY LIMITS THE WITHDRAWALS TO THE EXPECTED LONG-TERM RATE OF RETURN AT AN AVERAGE OF FIVE PERCENT. THE CLUB UTILIZES A SPENDING RATE OF THREE TO FIVE PERCENT OF A TRAILING TWELVE QUARTER AVERAGE OF THE FAIR VALUE OF THE ENDOWMENT FUNDS FOR THIS PURPOSE. ANY ANNUAL SPENDING AMOUNT REMAINING AT THE END OF THE FISCAL YEAR CONTINUES TO BE AVAILABLE FOR THE SUCCEEDING TWO YEARS. PART X, LINE 2: THE CLUB IS A QUALIFIED ORGANIZATION EXEMPT FROM FEDERAL INCOME AND CALIFORNIA FRANCHISE TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701(D) OF THE CALIFORNIA REVENUE FRANCHISE TAX CODE, RESPECTIVELY. THE CLUB ONLY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED AND CHANGES IN RECOGNITION OR MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGMENT OCCURS. THE CLUB HAS EVALUATED ITS CURRENT TAX POSITIONS AND HAS CONCLUDED THAT AS OF JUNE 30, 2019, IT DOES NOT HAVE ANY SIGNIFICANT TAX POSITIONS FOR WHICH A RESERVE WOULD BE NECESSARY. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -36,972. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 36,972. ANNUAL DINNER 1297263 1250263 47000 127000 20562 73000 NEW YEAR'S EVE PARTY 52202 52202 23566 3541 19182 1 21639 9800 11839 5208 700 5488 1371104 1260063 111041 155774 24803 97670 278247 -167206 X X X 0 0 0 0 0 0 0 0 0 GLORIA C DUFFY PRESIDENT & CEO 212212 0 0 0 510 0 9004 0 19296 0 241022 0 0 0 NICHOLAS C LEON VICE PRESIDENT 173774 0 0 0 7142 0 6962 0 1613 0 189491 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 MARY CRANSTON, DIRECTOR, HAS A FAMILY RELATIONSHIP WITH SUSIE CRANSTON, DIRECTOR. FORM 990, PART VI, SECTION A, LINE 4 A STATEMENT WAS ADDED TO THE ARTICLES OF INCORPORATION TO REQUIRE THAT UPON DISSOLUTION OF THE CLUB (CA NON-PROFIT CORP), NET ASSETS WOULD BE DISTRIBUTED TO A LIKE NON-PROFIT AND NO INDIVIDUAL OR OTHER ENTITY WOULD BENEFIT FROM SUCH DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE REVIEWS THE FORM 990 IN DETAIL. ONCE THE FORM IS ACCEPTABLE TO THE AUDIT COMMITTEE, IT IS FORWARDED TO THE FULL BOARD BEFORE FILING WITH THE TAXING AUTHORITIES. FORM 990, PART VI, SECTION B, LINE 12C THE PRESIDENT AND CEO SEND A LETTER ANNUALLY TO THE OFFICERS AND THE BOARD OF GOVERNORS. THE LETTER INCLUDES A QUESTIONNAIRE REQUESTING DISCLOSURE OF POTENTIAL CONFLICTS. ALL EMPLOYEES ARE COVERED BY THE CONFLICT OF INTEREST POLICY CONTAINED IN THE EMPLOYEE HANDBOOK. IN THE CASE OF A CONFLICT OF INTEREST BEING DISCOVER OR REPORTED, THE CLUB'S AUDIT COMMITTEE (CHARGED WITH RISK MANAGEMENT) IS IMMEDIATELY CALLED UPON TO ASSESS THE LEVEL OF CONFLICT AND ANY ASSOCIATED RISK TO THE CLUB. ITS FINDING/RECOMMENDATION IS THEN PASSED TO THE EXECUTIVE COMMITTEE OF THE BOARD FOR FINAL DISPOSITION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS REVIEWED BY A PERSONNEL COMMITTEE. THE BOARD'S PERSONNEL COMMITTEE IS COMPRISED OF INDEPENDENT PERSONS. THE PERSONNEL COMMITTEE UTILIZES INFORMATION AVAILABLE TO DETERMINE THE APPROPRIATENESS OF THE COMPENSATION PAID. THE INFORMATION USED INCLUDES COMPARABLE STUDIES OF SIMILAR ORGANIZATIONS AND POSITIONS, MARKET FACTORS AND RESPONSIBILITIES UNIQUE TO THE ORGANIZATION. UPON COMPLETION OF ITS REVIEW, THE PERSONNEL COMMITTEE MAKES ITS RECOMMENDATION TO THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE REQUIRED DOCUMENTS ARE AVAILABLE FOR PUBLIC INSPECTION UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP -222,672. ADJUSTMENT TO RECOGNIZE THE FAIR VALUE OF CLUB'S INTEREST RATE AGREEMENT -98,176. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.