2014-05-08T10:23:29-05:00 2013-12-31 341862269 CBIZ MHM LLC 3 BETHESDA METRO CENTER SUITE 600 BETHESDA MD 20814 990 2013-01-01 131623973 COMMITTEE FOR ECONOMIC DEVELOPMENT COMM 2022965860 2000 L STREET NO 700 WASHINGTON DC 20036 STEVE FORREY CHIEF FINANCIAL OFFICER 2024697813 2014-04-24 1 J SCOTT DENLINGER P00740770 3019513636 2013 2015-11-30 17:44:51Z STEVE ODLAND 2000 L STREET WASHINGTON DC 20036 5095018 0 X WWW.CED.ORG X 1942 DC TO CONDUCT RESEARCH AND PROMOTE PUBLIC AWARENESS ON MATTERS OF DOMESTIC AND INTERNATIONAL POLICY. 26 25 24 0 0 0 3527010 4915582 0 0 38180 99436 -106678 -107942 3458512 4907076 0 0 0 0 2133376 2506547 0 0 544711 2026678 2124868 4160054 4631415 -701542 275661 3234764 3843375 877911 937972 2356853 2905403 X TO CONDUCT RESEARCH AND PROMOTE PUBLIC AWARENESS ON MATTERS OF DOMESTIC AND INTERNATIONAL POLICY. 0 0 1524019 EDUCATION & HUMAN RESOURCES:1)IN NOVEMBER OF 2013, IN COLLABORATION WITH CALIFORNIA LIEUTENANT GOVERNOR GAVIN NEWSOM, CED RELEASED BOOSTING CALIFORNIA'S POSTSECONDARY EDUCATION PERFORMANCE, A REPORT PROVIDING THE BLUEPRINT NEEDED FOR CALIFORNIA TO REGAIN ITS STATUS AS THE NATION'S PREEMINENT STATE IN HIGHER EDUCATION. CED WAS GIVEN THIS OPPORTUNITY AS A RESULT OF THE LIEUTENANT GOVERNOR'S INTEREST IN OUR 2012 NATIONAL REPORT ON POSTSECONDARY EDUCATION. CED RECEIVED A FIRST-TIME GRANT AWARD LAST FALL FROM THE LUMINA FOUNDATION FOR AN 18-MONTH RESEARCH PROJECT THAT WILL IDENTIFY PROMISING BUSINESS PRACTICES FOR EMPLOYEE POSTSECONDARY DEGREE ATTAINMENT AND CERTIFICATION. CED WILL ASSESS BOTH INCENTIVES AND IMPEDIMENTS, AND LOOK AT FACTORS THAT DETERMINE SUCCESS. THE RESEARCH WILL BE TARGETED IN FOUR KEY CITIES IN NEW YORK, FLORIDA, MICHIGAN, AND TENNESSEE. LOCAL PARTNERS HAVE BEEN SELECTED AND TRUSTEE ENGAGEMENT IS UNDERWAY.IN ADDITION, CED JOINED TWO CONSORTIA OF THE GATES RADD (REIMAGINING AID DESIGN AND DELIVERY) 2.0 FINANCIAL AID REFORM INITIATIVE (GRANTS AND WORK STUDY, AND INCOME-BASED REPAYMENT FOR STUDENT LOANS), TO DEVELOP RESEARCH-BASED PROPOSALS FOR IMPROVING THE FEDERAL STUDENT FINANCIAL AID SYSTEM AND TO PROVIDE A MUCH-NEEDED BUSINESS PERSPECTIVE ON THESE POLICY ISSUES. THE POLICY PAPERS WILL BE RELEASED IN SUMMER 2014.2)IN PARTNERSHIP WITH THE BILL & MELINDA GATES FOUNDATION, CED ANNOUNCED A NEW TWO-YEAR INITIATIVE TO SUPPORT BOTH HIGH STANDARDS AND A HIGH-QUALITY EDUCATION SYSTEM THAT PREPARES ALL STUDENTS FOR COLLEGE AND THE WORKPLACE (THE COMMON CORE STATE STANDARDS). A NEW CED TRUSTEE TASK FORCE WAS FORMED TO GUIDE THE CREATION OF A POLICY PAPER AND ACTION PLAN. 1408424 DEMOCRATIC INSTITUTION:1)AMERICAN ECONOMIC GROWTH AND COMPETIVENESS HAVE BEEN STRENGTHENED BY BUSINESS' ABILITY TO GAIN VALUE FROM AN INCREASINGLY DIVERSE LABOR FORCE. WOMEN TODAY CONTRIBUTE AT ALL LEVELS AND HAVE EXCELLED IN EDUCATIONAL ATTAINMENT, YET THAT PROGRESS IS UNDERMINED WHEN WOMEN CANNOT ACHIEVE EQUAL STATUS ON CORPORATE BOARDS. THE SITUATION FOR THE UNITED STATES IS URGENT, AS OTHER COUNTRIES MOVE AHEAD WITH NUMEROUS EFFORTS TO PROVIDE WOMEN WITH GREATER ACCESS TO BOARD MEMBERSHIP AND OTHER OPPORTUNITIES FOR ADVANCEMENT. DESPITE A PROFESSED DESIRE BY MANY COMPANIES FOR GREATER DIVERSITY AND FEMALE REPRESENTATION, THERE HAS BEEN VIRTUALLY NO IMPROVEMENT IN THE NUMBER OF WOMEN ON CORPORATE BOARDS IN RECENT YEARS. THIS PROBLEM WILL NOT FIX ITSELF. AMERICA'S BUSINESS LEADERS SHOULD UNDERSTAND THAT THEY NEED TO USE ALL AVAILABLE TALENT TO SUCCEED IN TODAY'S GLOBAL COMPETITIVE MARKETS, AND SUCH TALENT INCREASINGLY WILL COME FROM WOMEN.CED'S PAPER MAKES A COMPELLING ARGUMENT, PARTICULARLY IN TERMS OF GLOBAL COMPETITIVENESS, FOR BUSINESS TO PLACE A HIGH PRIORITY ON DEVELOPING THE TALENTS AND ADVANCING THE CAREERS OF FEMALE STAFF IDENTIFIED AS POTENTIAL LEADERS. CED BELIEVES THERE IS A SEVERE SHORTAGE OF WOMEN ON U.S. CORPORATE BOARDS AND THAT A CALL TO ACTION NOW SERVES AN IMPORTANT PURPOSE.CED RELEASED FULFILLING THE PROMISE: HOW MORE WOMEN ON CORPORATE BOARDS WOULD MAKE AMERICA AND AMERICAN COMPANIES MORE COMPETITIVE IN JUNE 2012 IN NEW YORK CITY. A NATIONAL OUTREACH CAMPAIGN IS UNDERWAY TO ENGAGE BUSINESS LEADERS ON GENDER DIVERSITY IN CORPORATE BOARDS AND INCLUDES A FORMAL ENDORSEMENT CAMPAIGN, RAISING AWARENESS THROUGH LOCAL POLICY FORUMS, PARTNERING WITH LIKE-MINDED ORGANIZATIONS, PLACING OPINION PIECES IN NATIONAL MEDIA, ONE-ON-ONE MEETINGS WITH POTENTIAL MEMBERS, AND CREATION OF DATABASES OF QUALIFIED WOMEN FOR THE BOARDS AND RECRUITERS.2)OVER THE PAST DECADE, CED HAS LED A ROBUST PROGRAM ON CORPORATE GOVERNANCE ISSUES. DURING THAT TIME, THE SUBCOMMITTEE WAS CHAIRED BY RODERICK M. HILLS, FORMER CHAIRMAN OF THE SEC; WILLIAM H. DONALDSON, ALSO FORMER CHAIRMAN OF THE SEC; AND BEN HEINEMAN, FORMER EXECUTIVE VICE PRESIDENT FOR LAW AND PUBLIC POLICY AT GE.A WORKING PAPER ON BUSINESS STATESMANSHIP WAS POSTED TO CED'S WEBSITE IN MAY 2013 TO GENERATE DISCUSSION OF ACTIONS BUSINESS LEADERS COULD TAKE TO HELP NURTURE SOCIETAL HEALTH AND TO STRENGTHEN THE FABRIC INTO WHICH BUSINESS AND SOCIETY ARE INTERWOVEN.3)A NEW SUBCOMMITTEE WAS INITIATED TO COINCIDE WITH PREPARATIONS FOR CED'S 75TH ANNIVERSARY IN 2017. THIS SUBCOMMITTEE SEEKS TO RENEW CED'S FOUNDING PRINCIPLES THROUGH A MULTI-YEAR PROGRAM THAT WILL TEST THE VIABILITY OF "SUSTAINABLE CAPITALISM" - AN ENDURING ECONOMIC SYSTEM BASED ON PRIVATE PROPERTY; COMPETITIVE MARKETS; THE RULE OF LAW; SOCIAL AWARENESS; SOUND CORPORATE GOVERNANCE; EFFICIENT PUBLIC POLICY; BUSINESS STATESMANSHIP; AND STEADY SUPPORT FROM, AND CONSTRUCTIVE BALANCE AMONG, SOCIETY'S CONSTITUENTS. 107468 ECONOMIC POLICY & GROWTH:1)SOUND NATIONAL FISCAL POLICY HAS BEEN A PRIMARY OBJECTIVE OF CED FROM ITS FOUNDING. CHALLENGES TO FISCAL POLICYMAKING HAVE NEVER BEEN AS INTENSE AS THEY ARE TODAY. FEDERAL BUDGET DEFICITS ARE AT THEIR HIGHEST LEVEL SINCE WORLD WAR II, AND THE ACCUMULATED PUBLIC DEBT IS RISING RAPIDLY TOWARD THE LEVEL REACHED AT THE END OF THE WAR. COST DRIVERS WITHIN THE BUDGET, PRIMARILY HEALTH CARE AND RETIREMENT PROGRAMS, THREATEN TO KEEP DEFICITS HIGH EVEN WITH A FULL RECOVERY FROM THE RECENT RECESSION. THE COSTS OF SERVICING THE ACCUMULATED DEBT WILL AGGRAVATE THE PROBLEM.CED IS WORKING WITH ITS TRUSTEES TO MAKE THE CASE FOR SOUND POLICY TO A BROAD NATIONAL AUDIENCE - THROUGH PUBLIC OUTREACH EVENTS; MEETINGS WITH ELECTED OFFICIALS AND BUSINESS LEADERS; PRESENTATIONS THROUGH VARIOUS MEDIA OUTLETS; COMMUNITY FORUMS AND NATIONAL ECONOMIC SUMMITS; AND THE AUTHORING AND DISSEMINATION OF OP-EDS, ISSUE BRIEFS, AND OTHER ARTICLES.CED HAS ESTABLISHED A "RAPID-RESPONSE TEAM," SIMILAR TO THE ONE CREATED IN THE CRUCIAL STAGES OF THE HEALTHCARE PROCESS IN LATE 2009 AND 2010. THIS SMALL AND FULLY ENGAGED GROUP WOULD INCLUDE FISCAL HEALTH SUBCOMMITTEE MEMBERS, BUT ALSO MEMBERS OF CED GOVERNANCE COMMITTEES, TO FACILITATE QUICK PUBLIC COMMUNICATION IN CED'S NAME. THIS GROUP WILL BE NEEDED WHEN ACTIONS ARE TAKEN IN WASHINGTON TO DEAL WITH SUCH AS THE DEBT LIMIT AND THE ANNUAL BUDGET APPROPRIATIONS.IN SPRING 2012, CED LAUNCHED A FISCAL HEALTH BLOG WITH POSTS WRITTEN BY CED SENIOR VICE PRESIDENT AND DIRECTOR OF RESEARCH AND FORMER CHIEF ECONOMIST FOR THE U.S. OFFICE OF MANAGEMENT AND BUDGET, JOE MINARIK, AND A ROTATING GROUP OF GUEST BLOGGERS INCLUDING TRUSTEES AND VARIOUS ACADEMIC, POLITICAL, AND CORPORATE EXECUTIVE FEDERAL BUDGET EXPERTS (E.G. ERSKINE BOWLES).2)THE NEWLY RECONVENED HEALTHCARE REFORM SUBCOMMITTEE WILL EXPAND ON PAST CED RESEARCH TO PROVIDE A DEEPER AND MORE DETAILED VISION OF THE FEASIBILITY OF A HEALTH INSURANCE SYSTEM WITH MARKET-BASED COMPETITION AMONG PRIVATE INSURANCE PLANS. THE RESEARCH WOULD EDUCATE THE PUBLIC ON WHY AND HOW SUCH A SYSTEM WOULD PROVIDE QUALITY, AFFORDABLE CARE. IN SO DOING, IT WOULD DISPEL PRECONCEPTIONS THAT NOW APPARENTLY DISSUADE SOME PEOPLE FROM EVEN CONSIDERING SUCH AN ALTERNATIVE TO OUR CURRENT COSTLY, HIT-OR-MISS-QUALITY SYSTEM.THIS RESEARCH WOULD APPLY EQUALLY TO THE CARE OF THE WORKING-AGE POPULATION AND THEIR DEPENDENTS (AS MODIFIED BY THE 2010 PATIENT PROTECTION AND AFFORDABLE CARE ACT) AND TO THE CARE OF THE ELDERLY POPULATION UNDER MEDICARE.THIS PROJECT OFFERS CED AN OPPORTUNITY TO EDUCATE THE PUBLIC ON ITS VISION OF HEALTH CARE - BOTH AFFIRMATIVELY STATING THE CASE AND DESCRIBING THE PLAN, AND ANSWERING TYPICAL CONCERNS AND OBJECTIONS REGARDING A GREATER ROLE FOR MARKET FORCES. IT IS HARD TO IMAGINE SIGNIFICANT PROGRESS ON HEALTH CARE COST AND QUALITY WITHOUT THIS KIND OF STRUCTURAL REFORM, AND THE EDUCATION PROCESS THAT WE CONTEMPLATE WOULD BE A NECESSARY FIRST STEP TOWARD THAT GOAL. 196735 GLOBALISM AND TRADE AND CED RELATED PROGRAMS: BRINGS THE RESULTS OF CED RESEARCH TO THE PUBLIC AND STIMULATES THOUGHT AND DISCUSSION REGARDING CED EFFORTS. 196735 3236646 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 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 29 0 24 1 0 0 0 0 0 0 0 0 X 26 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 DC IL NJ NY NC OH SC X STEVE FORREY 2022965860 2000 L STREET WASHINGTON DC 200364915 WBOWMAN CUTTER TRUSTEE 3.00 X 0 0 0 JOSEPH GANTZ CO-CHAIR A & C COMMITTEE 3.00 X 0 0 0 PATRICK W GROSS TRUSTEE 3.00 X 0 0 0 MARTIN COHEN TRUSTEE 3.00 X 0 0 0 WILLIAM T ESRY TRUSTEE 3.00 X 0 0 0 HOLLIS W HART TRUSTEE 3.00 X 0 0 0 DONALD K PETERSON TRUSTEE 3.00 X 0 0 0 HENRIETTA H FORE TRUSTEE 3.00 X 0 0 0 JOSEPH E KASPUTYS TRUSTEE 3.00 X 0 0 0 BETH A BROOKE TRUSTEE 3.00 X 0 0 0 JACOB J WORENKLEIN TRUSTEE 3.00 X 0 0 0 CARL T CAMDEN CED CO-CHAIR 3.00 X 0 0 0 MICHAEL CHESSER TRUSTEE 3.00 X 0 0 0 ROBERT H COLSON CO-CHAIR A & C COMMITTEE 3.00 X 0 0 0 ROGER W FERGUSON JR CED CO-CHAIR 3.00 X 0 0 0 LENNY MEDONCA TRUSTEE 3.00 X 0 0 0 JACK A HOCKEMA TRUSTEE 3.00 X 0 0 0 DEBORAH HICKS MIDANEK TRUSTEE 3.00 X 0 0 0 DEBRA PERRY TRUSTEE 3.00 X 0 0 0 D BRYAN JORDAN TRUSTEE 3.00 X 0 0 0 ROBERT J KUEPPERS TRUSTEE 3.00 X 0 0 0 RONALD P O'HANLEY TRUSTEE 3.00 X 0 0 0 JAMES E ROHR TRUSTEE 3.00 X 0 0 0 PATRICIA F RUSSO TRUSTEE 3.00 X 0 0 0 MAGGIE WILDEROTTER TRUSTEE 3.00 X 0 0 0 STEVE ODLAND CEO 40.00 X X 388968 0 42241 MICHAEL PETRO EXECUTIVE VICE PRESIDENT 40.00 X 205577 0 15426 LAURA LEE CFO AND VICE PRESIDENT 40.00 X 163863 0 13238 ELLIOT SCHWARTZ VICE PRESIDENT 40.00 X 173679 0 12418 JOSEPH MINARIK SENIOR VP & RESEARCH DIRECTOR 40.00 X 248248 0 19707 1180335 0 103030 5 0 1 0 0 961650 3953932 4915582 99436 99436 80000 961650 187942 -107942 -107942 4907076 0 0 -8506 829313 586991 177101 65221 1295654 882968 121556 291130 182870 126501 25702 30667 198710 137459 27928 33323 5851 4048 822 981 23284 16107 3272 3905 913 632 128 153 97029 67120 13638 16271 116415 91588 18609 6218 494891 342344 69555 82992 6767 4681 951 1135 1303894 923755 380139 3281 2270 461 550 29988 20744 4215 5029 14007 9689 1969 2349 PRINTING AND PUBLICATIO 16730 11573 2351 2806 BAD DEBT EXPENSE 6733 4658 946 1129 MEMBERSHIP DUES 4098 2835 576 687 OTHER EXPENSES 987 683 139 165 4631415 3236646 850058 544711 X 187942 131559 33830 22553 407289 636480 2094 824665 693524 26386 79778 941428 601376 406831 340052 1541371 2067413 26128 26128 3234764 3843375 245952 368313 631959 569659 877911 937972 X -658073 1367165 2014926 1538238 1000000 0 2356853 2905403 3234764 3843375 275661 272889 0 X 0 1 X 1 0 X 3673001 5936782 4106474 3572760 4915582 22204599 3673001 5936782 4106474 3572760 4915582 22204599 4698178 17506421 54781 41940 31037 38180 99436 265374 65 65 22470038 12634 0.77910 0.73180 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 46094 46094 4773263 4819357 390968 97742 0 0 391588 361530 365627 390968 1509713 2264570 42491 44634 37165 46094 170384 97897 90383 91407 97742 377429 566144 1000000 1000000 1000000 1000000 1000000 1000000 1000000 1000000 1000000 1000000 0 0 477200 155081 322119 464228 446295 17933 340052 MUTUAL FUNDS 2067413 F 2067413 ACCRUED POSTRETIREMENT LIAB. 47517 DEFERRED RENT 200023 LEASE INCENTIVE LIABILITY 322119 569659 5367907 272889 272889 5095018 -187942 -187942 4907076 4819357 187942 187942 4631415 0 4631415 PART XI, LINE 4B - OTHER ADJUSTMENTS: EXPENSES ASSOCIATED WITH FUNDRAISING EVENTS PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES ASSOCIATED WITH FUNDRAISING EVENTS PART X, LINE 2 CED HAS ADOPTED ASC TOPIC 740-10 WHICH PRESCRIBES MEASUREMENT AND DISCLOSURE REQUIREMENTS FOR CURRENT AND DEFERRED INCOME TAX PROVISIONS. THE TOPIC PROVIDES FOR A CONSISTENT APPROACH IN IDENTIFYING AND REPORTING UNCERTAIN TAX PROVISIONS. IT IS MANAGEMENT'S BELIEF THAT CED DOES NOT HOLD ANY UNCERTAIN TAX POSITIONS. CED'S RETURNS ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. PART V, LINE 1E IN AUGUST 2013, THE DONOR OF THE ENDOWMENT FUND RELEASED ALL RESTRICTIONS ON CED'S USE OF THE FUNDS. X X X X X X NY NJ NC SC OH IL DC ANNUAL FUNDRAISER 1041650 961650 80000 115000 41235 31707 1041650 961650 80000 115000 41235 31707 187942 -107942 X X X 0 1 0 0 0 0 0 1 0 STEVE ODLAND CEO 388968 0 0 0 0 0 29969 0 12272 0 431209 0 0 0 MICHAEL PETRO EXECUTIVE VICE PRESIDENT 205577 0 0 0 0 0 14017 0 1409 0 221003 0 0 0 LAURA LEE CFO AND VICE PRESIDENT 163863 0 0 0 0 0 12028 0 1210 0 177101 0 0 0 ELLIOT SCHWARTZ VICE PRESIDENT 173679 0 0 0 0 0 11221 0 1197 0 186097 0 0 0 JOSEPH MINARIK SENIOR VP & RESEARCH DIRECTOR 248248 0 0 0 0 0 18066 0 1641 0 267955 0 0 0 PART I, LINE 4B CED MAINTAINS A SUPPLEMENTAL, NONQUALIFIED DEFERRED COMPENSATION PLAN FOR ELIGIBLE EXECUTIVES. PART I, LINE 7 CED STAFF, INCLUDING KEY EMPLOYEES AND OFFICERS, CAN RECEIVE BONUSES BASED UPON PERFORMANCE EVALUATIONS. FORM 990, PART VI, SECTION B, LINE 11 THE CHIEF FINANCIAL OFFICER AND CHIEF EXECUTIVE OFFICER REVIEW A DRAFT OF THE 990. THIS DRAFT IS THEN SENT TO MEMBERS OF THE BUDGET AND AUDIT COMMITTEE FOR REVIEW AND APPROVAL. THE CEO AND CFO CONVENE A MEETING WITH THE COMMITTEE TO REVIEW THE DOCUMENT AND ANSWER QUESTIONS. AFTER THE REVIEW BY THE BUDGET AND AUDIT COMMITTEE, APPROVAL OF THE FORM IS DOCUMENTED AND IS FILED. FORM 990, PART VI, SECTION B, LINE 12C BECAUSE CED IS DEDICATED TO POLICY RESEARCH, CONFLICT OF INTEREST ISSUES GENERALLY ARISE CONCERNING POLICY RECOMMENDATIONS AND PROPOSALS GENERATED BY CED RESEARCH. THERE IS A LONG-STANDING PRACTICE WHEREBY CED ALLOWS BOARD MEMBERS AND THEIR COMPANIES TO EXPRESS THEIR DISSENT OR DISAGREEMENT WITH POLICY POSITIONS AND RESEARCH GENERATED BY CED'S WORK AS AN ADDENDUM TO POSITION PAPERS AND STATEMENTS. FORM 990, PART VI, SECTION B, LINE 15 CED HAS A COMPENSATION COMMITTEE WHICH REVIEWS ANNUALLY THE COMPENSATION OF THE PRESIDENT. RECOMMENDATIONS FOR SALARY LEVEL CHANGES FOR THE PRESIDENT ARE SUBMITTED FOR APPROVAL TO THE EXECUTIVE COMMITTEE. OTHER OFFICERS AND KEY EMPLOYEES RECEIVE AN ANNUAL PERFORMANCE REVIEW. SALARY LEVELS AND BONUSES ARE RECOMMENDED BY THE PRESIDENT, AND ARE APPROVED BY THE COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. ALL POLICY STATEMENTS THAT INCLUDE DISSENTS BY BOARD MEMBERS ARE ALSO PUBLICLY AVAILABLE.