2019-11-15T09:05:18-06:00 2018-12-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 205 N MICHIGAN AVE 2800 CHICAGO IL 606015927 990 2018-01-01 364313685 WORLD BUSINESS CHICAGO WORL 3125530500 177 NORTH STATE STREET NO 500 CHICAGO IL 60601 ANDREA ZOPP PRESIDENT & CEO 3125530500 2019-11-14 1 MARK HEROUX P00959793 3127298000 2019-11-14 38.88.202.179 2019-11-14 14:30:43 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 0882A3BD3791635C134A938B8FF3C2B174769BAB 2018 2020-04-17 16:48:07Z ANDREA ZOPP 177 N STATE ST STE 500 CHICAGO IL 60601 9504367 0 X WWW.WORLDBUSINESSCHICAGO.COM X 1999 IL WORLD BUSINESS CHICAGO IS THE CITY OF CHICAGO'S PUBLIC-PRIVATE ECONOMIC DEVELOPMENT AGENCY. OUR MISSION IS TO DRIVE INCLUSIVE ECONOMIC GROWTH AND JOB CREATION, SUPPORT BUSINESS, AND PROMOTE CHICAGO AS A LEADING GLOBAL CITY. OUR VISION IS TO ENSURE THAT ALL CHICAGOANS PROSPER. WE DRIVE GROWTH THROUGH BUSINESS RECRUITMENT, EXPANSION, AND RETENTION ASSISTANCE AND CONNECTING BUSINESSES TO RESOURCES AND OPPORTUNITIES. WE CHAMPION CHICAGO AS A WORLD-CLASS CITY THROUGH BUILDING STRATEGIC INDUSTRY PARTNERSHIPS, CONVENING POLICY MAKERS AND LEADERS, AND ADVANCING OPPORTUNITIES FOR MULTICULTURAL ENGAGEMENT. WE UNITE LEADERS TO ADVANCE GROWTH IN CHICAGO'S NEIGHBORHOODS THROUGH TALENT DEVELOPMENT, PROCUREMENT, AND INVESTMENT. 89 88 81 890 0 23891 10631225 9266571 0 0 4923 30867 -73922 -88772 10562226 9208666 1215008 1881987 0 0 6188207 5022667 0 0 659836 4602965 3130612 12006180 10035266 -1443954 -826600 12077345 10793677 1964507 1507439 10112838 9286238 WORLD BUSINESS CHICAGO IS THE CITY OF CHICAGO'S PUBLIC-PRIVATE ECONOMIC DEVELOPMENT AGENCY. OUR MISSION IS TO DRIVE INCLUSIVE ECONOMIC GROWTH AND JOB CREATION, SUPPORT BUSINESS, AND PROMOTE CHICAGO AS A LEADING GLOBAL CITY. 0 0 7756327 1881987 WORLD BUSINESS CHICAGO (WBC) DRIVES ECONOMIC GROWTH THROUGH THREE MAIN AREAS: BUSINESS ATTRACTION AND RETENTION, INCLUSIVE ECONOMIC GROWTH AND JOBS, INTERNATIONAL STRATEGIC INITIATIVES AND CULTURAL EXCHANGE THROUGH THE CHICAGO SISTER CITIES PROGRAM. 7756327 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 1 1 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 40 0 1 81 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 89 88 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X X ANDREA ZOPP 3125530500 177 N STATE ST SUITE 500 CHICAGO IL 60601 RAHM EMANUEL CHAIR 1.00 0.00 X X 0 0 0 MICHAEL J SACKS VICE CHAIR 1.00 0.00 X X 0 0 0 JAMES KOLAR TREASURER 1.00 0.00 X X 0 0 0 MICHAEL MORKIN SECRETARY 1.00 0.00 X X 0 0 0 CARL A ALLEGRETTI DIRECTOR 1.00 0.00 X 0 0 0 ANTHONY K ANDERSON DIRECTOR 1.00 0.00 X 0 0 0 ANDREW APPEL DIRECTOR 1.00 0.00 X 0 0 0 JEFF S ARONIN DIRECTOR 1.00 0.00 X 0 0 0 RITA ATHAS DIRECTOR 1.00 0.00 X 0 0 0 JOHN ATKINSON DIRECTOR 1.00 0.00 X 0 0 0 MARC BAUMANN DIRECTOR 1.00 0.00 X 0 0 0 MELISSA L BEAN DIRECTOR 1.00 0.00 X 0 0 0 JIM BRADY DIRECTOR 1.00 0.00 X 0 0 0 GREG BROWN DIRECTOR 1.00 0.00 X 0 0 0 JOHN BUCK DIRECTOR 1.00 0.00 X 0 0 0 MARTIN CABRERA DIRECTOR 1.00 0.00 X 0 0 0 DEBRA A CAFARO DIRECTOR 1.00 0.00 X 0 0 0 PAT CANNING DIRECTOR 1.00 0.00 X 0 0 0 DAVID J CARLINS DIRECTOR 1.00 0.00 X 0 0 0 GREGORY C CASE DIRECTOR 1.00 0.00 X 0 0 0 DAVID R CASPER DIRECTOR 1.00 0.00 X 0 0 0 JAMES B COLEMAN DIRECTOR 1.00 0.00 X 0 0 0 SEAN CONNOLLY DIRECTOR 1.00 0.00 X 0 0 0 CHRISTOPHER CRANE DIRECTOR 1.00 0.00 X 0 0 0 JAMES S CROWN DIRECTOR 1.00 0.00 X 0 0 0 WENDY DAVIDSON DIRECTOR 1.00 0.00 X 0 0 0 DEBORAH DEHAAS DIRECTOR 1.00 0.00 X 0 0 0 MARY DILLON DIRECTOR 1.00 0.00 X 0 0 0 STEVE EASTERBROOK DIRECTOR 1.00 0.00 X 0 0 0 DONALD EDWARDS DIRECTOR 1.00 0.00 X 0 0 0 JOHN R ETTELSON DIRECTOR 1.00 0.00 X 0 0 0 MIKE ENGLEHART DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL FASSNACHT DIRECTOR 1.00 0.00 X 0 0 0 STEPHEN FORT DIRECTOR 1.00 0.00 X 0 0 0 MATT GIBSON DIRECTOR 1.00 0.00 X 0 0 0 ILENE GORDON DIRECTOR 1.00 0.00 X 0 0 0 ALEX GOURLAY DIRECTOR 1.00 0.00 X 0 0 0 ANTONIO GRACIAS DIRECTOR 1.00 0.00 X 0 0 0 RAJ GUPTA DIRECTOR 1.00 0.00 X 0 0 0 DEAN HARRISON DIRECTOR 1.00 0.00 X 0 0 0 LORI HEALEY DIRECTOR 1.00 0.00 X 0 0 0 MELLODY HOBSON DIRECTOR 1.00 0.00 X 0 0 0 JOHN HOLMES DIRECTOR 1.00 0.00 X 0 0 0 MARK S HOPLAMAZIAN DIRECTOR 1.00 0.00 X 0 0 0 H FISK JOHNSON DIRECTOR 1.00 0.00 X 0 0 0 LAMAR JOHNSON DIRECTOR 1.00 0.00 X 0 0 0 CHRISTIE KELLY DIRECTOR 1.00 0.00 X 0 0 0 STEVE KERSTEN DIRECTOR 1.00 0.00 X 0 0 0 ERIC LEFKOFSKY DIRECTOR 1.00 0.00 X 0 0 0 JIM LECINSKI DIRECTOR 1.00 0.00 X 0 0 0 NILA R LEISEROWITZ DIRECTOR 1.00 0.00 X 0 0 0 JEFFREY MALEHORN DIRECTOR 1.00 0.00 X 0 0 0 CHARLES MATTHEWS DIRECTOR 1.00 0.00 X 0 0 0 ROBERT MCCULLEN DIRECTOR 1.00 0.00 X 0 0 0 TOM MCGUINNESS DIRECTOR 1.00 0.00 X 0 0 0 SAMUEL M MENCOFF DIRECTOR 1.00 0.00 X 0 0 0 SHAWN MOBLEY DIRECTOR 1.00 0.00 X 0 0 0 DAVID E MOORE DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL H MOSKOW DIRECTOR 1.00 0.00 X 0 0 0 OSCAR MUNOZ DIRECTOR 1.00 0.00 X 0 0 0 PIN NI DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL O'BRIEN DIRECTOR 1.00 0.00 X 0 0 0 WILLIAM A OSBORN DIRECTOR 1.00 0.00 X 0 0 0 HENRY M PAULSON JR DIRECTOR 1.00 0.00 X 0 0 0 JOSE LUIS PRADO DIRECTOR 1.00 0.00 X 0 0 0 RICHARD S PRICE DIRECTOR 1.00 0.00 X 0 0 0 JB PRITZKER DIRECTOR 1.00 0.00 X 0 0 0 FRANK PTAK DIRECTOR 1.00 0.00 X 0 0 0 ALISON RANNEY DIRECTOR 1.00 0.00 X 0 0 0 PAUL C REILLY DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL REINSDORF DIRECTOR 1.00 0.00 X 0 0 0 JIM REYNOLDS DIRECTOR 1.00 0.00 X 0 0 0 LARRY RICHMAN DIRECTOR 1.00 0.00 X 0 0 0 JOHN C ROBAK DIRECTOR 1.00 0.00 X 0 0 0 ROBBIE ROBINSON DIRECTOR 1.00 0.00 X 0 0 0 DINO ROBUSTO DIRECTOR 1.00 0.00 X 0 0 0 DESIREE ROGERS DIRECTOR 1.00 0.00 X 0 0 0 KRISTEN ROSSI DIRECTOR 1.00 0.00 X 0 0 0 DAN RYAN DIRECTOR 1.00 0.00 X 0 0 0 PAT RYAN JR DIRECTOR 1.00 0.00 X 0 0 0 DIANA SANDS DIRECTOR 1.00 0.00 X 0 0 0 MUNEER A SATTER DIRECTOR 1.00 0.00 X 0 0 0 KAREN SAUDER DIRECTOR 1.00 0.00 X 0 0 0 SAM SCOTT DIRECTOR 1.00 0.00 X 0 0 0 DAVID SIMAS DIRECTOR 1.00 0.00 X 0 0 0 KIMBERLY SIMIOS DIRECTOR 1.00 0.00 X 0 0 0 JAMES SKOGSBERGH DIRECTOR 1.00 0.00 X 0 0 0 VIK SOHONI DIRECTOR 1.00 0.00 X 0 0 0 J DOUGLAS SPARKMAN DIRECTOR 1.00 0.00 X 0 0 0 PAULA STEINER DIRECTOR 1.00 0.00 X 0 0 0 ROBERT SULLIVAN DIRECTOR 1.00 0.00 X 0 0 0 SCOTT SWANSON DIRECTOR 1.00 0.00 X 0 0 0 DONALD THOMPSON DIRECTOR 1.00 0.00 X 0 0 0 PETER THOMPSON DIRECTOR 1.00 0.00 X 0 0 0 ED TILLY DIRECTOR 1.00 0.00 X 0 0 0 GLENN F TILTON DIRECTOR 1.00 0.00 X 0 0 0 STACY TRACKEY MEAGHER DIRECTOR 1.00 0.00 X 0 0 0 GLEN TULLMAN DIRECTOR 1.00 0.00 X 0 0 0 TIMOTHY WALBERT DIRECTOR 1.00 0.00 X 0 0 0 KEITH E WILLIAMS DIRECTOR 1.00 0.00 X 0 0 0 DON WILSON DIRECTOR 1.00 0.00 X 0 0 0 JAMES P ZALLIE DIRECTOR 1.00 0.00 X 0 0 0 NIKKI M ZOLLAR DIRECTOR 1.00 0.00 X 0 0 0 MALEHORN JEFFREY BOARD MEMBER 1.00 0.00 X 311635 0 21221 ANDREA ZOPP PRESIDENT & CEO 60.00 0.00 X 374728 0 12327 TIFFANY HAMEL-JOHNSON EXEC VP STRATEGY & ADMIN 40.00 0.00 X 180031 0 23334 STINSON CHRISTAL CHIEF DEVELOPMENT OFFICER 40.00 0.00 X 144482 0 23680 BUSH LORI VP ECONOMIC DEVELOPMENT 40.00 0.00 X 146871 0 20108 VICCHIARELLI DENNIS EXECUTIVE VP 40.00 0.00 X 148252 0 15504 MONAHAN JOY GENERAL COUNSEL 40.00 0.00 X 128495 0 31988 SIMMONS CARRIE DIRECTOR OF OPERATIONS & HR 40.00 0.00 X 127674 0 20219 BARTKOSKI THOMAS DIRECTOR, INTERNATIONAL BUSINESS DEV 40.00 0.00 X 121904 0 15619 WOODS ALYA EXECUTIVE DIRECTOR, CHICAGONEXT 40.00 0.00 X 108288 0 25530 COADY GENEVIEVE EXECUTIVE VP, CHICAGOMADE 40.00 0.00 X 106020 0 28988 ALLALA LEROY EXECUTIVE DIRECTOR, CSCI 40.00 0.00 X 121357 0 12474 JOHNSON-GABRIEL BERNITA EXECUTIVE VP, NEIGHBORHOOD & STRATEGIC INITIATIVES 40.00 0.00 X 118659 0 7498 2138396 0 258490 13 0 1 0 TANDEM 2035 W WABANSIA AVE CHICAGO IL 60647 WEBSITE DEVELOPMENT 263872 HUBBARD GALBRAITH LLC 211 EAST OHIO STREET SUITE 2623 CHICAGO IL 60611 ACCOUNTING & FINANCE 147494 2 795760 2340789 6130022 9266571 30867 30867 77640 795760 295701 -218061 -218061 OTHER INCOME 900099 129289 129289 129289 9208666 0 0 -57905 1881987 1881987 2283053 1278164 613303 391586 1873555 1501744 328357 43454 97009 69590 16832 10587 465213 318639 102983 43591 303837 206859 70596 26382 950 950 179300 53790 98615 26895 509075 440934 62101 6040 129584 99056 24245 6283 92133 33778 52293 6062 560923 385313 120617 54993 32057 18754 10315 2988 32098 32098 863546 854428 9118 114876 78912 24702 11262 87669 60222 18852 8595 LICENSES, FEES, DUES AN 288174 211444 58098 18632 CHICAGO SISTER CITIES C 207791 207791 PROFESSIONAL DEVELOPMEN 32436 22824 7126 2486 10035266 7756327 1619103 659836 4037964 4658601 3492170 2999089 3997302 2495050 20000 2554 134688 88286 1527175 977078 395221 550097 12077345 10793677 1181322 430051 677079 993750 106106 83638 1964507 1507439 X 6310177 6838620 3802661 2447618 10112838 9286238 12077345 10793677 -826600 0 X X 0 1 X 1 0 X 7535601 9849684 12986237 10631225 9344211 50346958 7535601 9849684 12986237 10631225 9344211 50346958 814868 49532090 182 301 1329 4923 30867 37602 50384560 764705 0.98310 0.97880 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 78496 65292 13204 909029 466932 442097 539650 444854 94796 550097 DEFERRED RENT - LT 83638 83638 X 11819036 2610370 2610370 9208666 0 9208666 12645636 2610370 2610370 10035266 0 10035266 PART X, LINE 2: WBC HAS ADOPTED THE REQUIREMENTS FOR ACCOUNTING FOR UNCERTAIN TAX POSITIONS AND MANAGEMENT HAS DETERMINED THAT WBC WAS NOT REQUIRED TO RECORD A LIABILITY RELATED TO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2018 AND 2017. FEDERAL AND STATE TAX AND/OR INFORMATION RETURNS OF WBC ARE SUBJECT TO EXAMINATIONS BY THE INTERNAL REVENUE SERVICE AND STATE TAXING AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THE RETURNS WERE FILED. MIDDLE EAST AND NORTH AFRICA 0 0 PRGRAM SERVICES PROGRAM SERVICES FOR EXCHANGE OF INFO TO PROVIDE CULTURAL UNDERSTANDING VIA WEBSITE 11370 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES FOREIGN DIRECT INVESTMENT & DELEGATIONS 161480 0 0 0 0 0 0 172850 0 172850 0 0 0 0 0 0 GALA 873400 795760 77640 118285 65372 112044 873400 795760 77640 118285 65372 112044 295701 -218061 1 BETHEL NEW LIFE INC 4950 W THOMAS ST CHICAGO IL 60651 363013241 501(C)(3) 400000 INCLUSIVE GROWTH GRANT BLUE 1647 NFP 1647 S BLUE ISLAND AVE CHICAGO IL 60608 463527571 501(C)(3) 168750 INCLUSIVE GROWTH GRANT BUNKER LABS NFP INC 222 W MERCHANDISE MART PLAZA STE 1212 CHICAGO IL 60654 471474802 501(C)(3) 450000 INCLUSIVE GROWTH GRANT CHICAGO REGIONAL GROWTH CORPORATION 700 NORTH STATE STREET CHICAGO IL 60601 823570310 501(C)(3) 433237 EXPORT PROGRAMMING FUTURE FOUNDERS FOUNDATION 222 W MERCHANDISE MART PLAZA STE 1212 CHICAGO IL 60654 453340650 501(C)(3) 400000 INCLUSIVE GROWTH GRANT MUNICIPIO D COMERIO CALLE JOSE DE DIEGO COMERIO PR 00782 660433562 501(C)(3) 10000 DISASTER RELIEF MUNICIPIO DE LOIZA PO BOX 508 LOIZA PR 00772 660386962 501(C)(3) 10000 DISASTER RELIEF SOMEBODY HELP US ALGUIEN AYUDENOS INC 35 W WACKER DR CHICAGO IL 60601 823075458 501(C)(3) 10000 DISASTER RELIEF 8 PART I, LINE 2: BOARD OF DIRECTORS AT WORLD BUSINESS CHICAGO. 1 X X X X 1 0 0 0 0 0 0 0 0 MALEHORN JEFFREY BOARD MEMBER 246635 0 65000 0 0 0 0 0 21221 0 332856 0 0 0 ANDREA ZOPP PRESIDENT & CEO 374728 0 0 0 0 0 10601 0 1726 0 387055 0 0 0 TIFFANY HAMEL-JOHNSON EXEC VP STRATEGY & ADMIN 180031 0 0 0 0 0 5230 0 18104 0 203365 0 0 0 STINSON CHRISTAL CHIEF DEVELOPMENT OFFICER 144482 0 0 0 0 0 4194 0 19486 0 168162 0 0 0 BUSH LORI VP ECONOMIC DEVELOPMENT 146871 0 0 0 0 0 5189 0 14919 0 166979 0 0 0 VICCHIARELLI DENNIS EXECUTIVE VP 148252 0 0 0 0 0 5240 0 10264 0 163756 0 0 0 MONAHAN JOY GENERAL COUNSEL 128495 0 0 0 0 0 4671 0 27317 0 160483 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 ON MARCH 6, 2018, THE BOARD APPROVED AN AMENDMENT OF THE BYLAWS TO ELIMINATE THE OFFICE OF THE MANAGING DIRECTOR OF THE CORPORATION AND REMOVE ALL REFERENCES AND DUTIES RELATED TO THE MANAGING DIRECTOR. THE OFFICE OF PRESIDENT, SECRETARY AND TREASURER REMAIN. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN IS PREPARED BY EXTERNAL AND INTERNAL ACCOUNTANTS, REVIEWED BY THE PRESIDENT AND OTHER INTERNAL MANAGEMENT, AND CIRCULATED TO THE BOARD OF DIRECTORS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY AFFECTS BOTH WBC DIRECTORS OR EMPLOYEES. IF ANY DIRECTOR OR EMPLOYEE BECOMES AWARE OF ANY EXISTING OR PROPOSED TRANSACTION WITH AN ENTITY THAT HAS A "SUBSTANTIAL CONNECTION" WITH A IMMEDIATE FAMILY MEMBER OF THE DIRECTOR OR EMPLOYEE OR ONE THAT WOULD REASONABLY CREATE THE PERCEPTION THAT THE INDIVIDUAL HAS A SUBSTANTIAL BIAS IN FAVOR OF THE ENTITY, THEN THE DIRECTOR OR EMPLOYEE SHALL PROMPTLY NOTIFY THE WBC VICE CHAIRMAN OR DESIGNEE ON THE EC IF HE IS CONFLICTED THAT THERE IS A POTENTIAL CONFLICT AND DISCLOSE THE CIRCUMSTANCES. THE WBC VICE CHAIRMAN OR HIS DESIGNEE SHALL DETERMINE WHETHER EXECUTIVE COMMITTEE APPROVAL OF THE ACTION IS REQUIRED BASED ON WHETHER THE CONNECTION BETWEEN THE ENTITY AND THE WBC DIRECTOR OR EMPLOYEE IS SUFFICIENTLY SIGNIFICANT TO CREATE A CONFLICT OF INTEREST OR THE APPEARANCE OF A CONFLICT OF INTEREST. THE VICE CHAIRMAN'S OR HIS DESIGNEE'S DETERMINATION AND REASONS SHALL BE DOCUMENTED. FORM 990, PART VI, SECTION B, LINE 15 IN 2016, THE ORGANIZATION CONDUCTED A COMPENSATION STUDY TO DETERMINE IF CURRENT SALARIES FOR ALL POSITIONS OTHER THAN THE PRESIDENT AND THE PRESIDENT REVIEWED AND MADE ADJUSTMENTS ACCORDINGLY. THE PRESIDENT CONTINUES TO MONITOR ANNUALLY. THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES ANY ADJUSTMENTS TO THE PRESIDENT'S COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 WORLD BUSINESS CHICAGO (WBC) ADOPTED A TRANSPARENCY POLICY WHICH STATES THAT ANNUALLY, WBC WILL MAKE A COPY OF ITS AUDITED GAAP FINANCIAL STATEMENTS AVAILABLE. WBC DOES NOT MAKE ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC BEYOND THE INFORMATION DISCLOSED ON WWW.GUIDESTAR.ORG. THE WBC WEBSITE PROVIDES ACCESS TO WBC'S ETHICS POLICIES (TRANSPARENCY/DISCLOSURE POLICY, CONFLICT OF INTEREST POLICY, POLICY ON ADVOCACY). WBC ALSO PUBLISHES AN ANNUAL REPORT ON ITS WEBSITE WHICH CONTAINS FINANCIAL INFORMATION. FORM 990, PART VI, SECTION B, LINE 13 & 14 - POLICIES: DOCUMENT RETENTION AND DESTRUCTION POLICY. IN 2015, THE ORGANIZATION IMPLEMENTED A WRITTEN WHISTLEBLOWER POLICY AND A DOCUMENT RETENTION AND DESTRUCTION POLICY. FORM 990, PART XII, LINE 2C: THE ORGANIZATION NEITHER CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.