2012-08-09T09:07:55-05:00 2011-09-30 PRICEWATERHOUSECOOPERS LLP 1301 K STREET NW SUITE 800W WASHINGTON DC 200053333 990 2010-10-01 135266605 INVESTMENT COMPANY INSTITUTE INVE 2023265800 1401 H STREET NW WASHINGTON DC 20005 MARK DELCOCO 2012-08-09 true 2024141000 2010 2016-02-24 21:20:13Z PAUL STEVENS 1401 H STREET NW WASHINGTON DC 20005 66993871 false X WWW.ICI.ORG X 1941 DE ENCOURAGE ADHERENCE TO HIGH ETHICAL STANDARDS; ADVANCE THE INTEREST OF FUNDS, THEIR SHAREHOLDERS, DIRECTORS & INVESTMENT ADVISERS; PROMOTE PUBLIC UNDERSTANDING OF MUTUAL FUNDS AND OTHER INVESTMENT COMPANIES. 45 45 166 0 254805 117500 44012095 49706941 5485345 5656919 1031931 789689 914707 887130 51444078 57040679 50000 50000 0 0 30809978 31950107 0 0 0 21415441 22282061 52275419 54282168 -831341 2758511 49012465 56014529 24023653 34720675 24988812 21293854 ICI ENGAGES IN THREE CORE MISSIONS: ENCOURAGING ADHERENCE TO HIGH ETHICAL STANDARDS BY ALL INDUSTRY PARTICIPANTS; ADVANCING THE INTERESTS OF FUNDS, THEIR SHAREHOLDERS, DIRECTORS, AND INVESTMENT ADVISORS; AND PROMOTING PUBLIC UNDERSTANDING OF MUTUAL FUNDS AND OTHER INVESTMENT COMPANIES. false false PUBLIC POLICY ISSUES - ICI ADVANCES THE INTERESTS OF INVESTMENT COMPANIES, THEIR SHAREHOLDERS, DIRECTORS, AND INVESTMENT ADVISERS BY SUPPORTING EFFECTIVE LEGISLATION AND REGULATION. TO SECURE PUBLIC POLICY OBJECTIVES, ICI REPRESENTS THE FUND INDUSTRY AND ITS SHAREHOLDERS BEFORE CONGRESS, THE SECURITIES AND EXCHANGE COMMISSION, AND OTHER REGULATORY AGENCIES, AS WELL AS STATE AND FOREIGN REGULATORS. RESEARCH - ICI IS THE PRIMARY SOURCE FOR STATISTICAL DATA AND RESEARCH ON INVESTORS AND RETIREMENT PLANS IN THE INVESTMENT COMPANY INDUSTRY. ICI RESEARCH EXAMINES SUCH TOPICS AS THE RETIREMENT MARKET, SHAREHOLDER DEMOGRAPHICS, TRENDS IN SHAREHOLDER OWNERSHIP, FUND FEES AND EXPENSES, AND THE INDUSTRY'S ROLE IN FOREIGN MARKETS. PUBLIC COMMUNICATIONS - ICI OFFERS A WIDE RANGE OF RESOURCES TO THE MEDIA, INCLUDING NEWS RELEASES, BACKGROUND INFORMATION ON THE FUND INDUSTRY, TESTIMONY BEFORE LEGISLATORS AND REGULATORS, SPEECHES AT CONFERENCES AND COMMENT LETTERS EXPRESSING INDUSTRY OPINIONS ON REGULATORY PROPOSALS. ICI ALSO PROVIDES REGULAR STATISTICAL RELEASES AND RESEARCH CONCERNING THE INDUSTRY AND ITS SHAREHOLDERS. false false false true false false false false false true false false false true true false true false true true false false false false false false true false true false false false false false false false false false false false true true true false true 68 0 166 true true true true UK false false true true false X 45 45 true false true false true true true true true false false true true true true true true true true false DC VA X MARK DELCOCO 2023265800 1401 H STREET NW WASHINGTON DC 20005 X EDWARD C BERNARD 1.0 X 0 0 0 MARTIN L FLANAGAN 1.0 X 0 0 0 ASHOK N BAKHRU 1.0 X 0 0 0 JONATHAN R BAUM 1.0 X 0 0 0 DOROTHY A BERRY 1.0 X 0 0 0 MARY K BUSH 1.0 X 0 0 0 MARIE A CHANDOHA 1.0 X 0 0 0 JOHN F COGAN JR 1.0 X 0 0 0 MICHAEL J COSGROVE 1.0 X 0 0 0 PATRICK P COYNE 1.0 X 0 0 0 RICHARD S DAVIS 1.0 X 0 0 0 ANTHONY W DEERING 1.0 X 0 0 0 KENNETH C EICH 1.0 X 0 0 0 THOMAS E FAUST JR 1.0 X 0 0 0 MARK R FETTING 1.0 X 0 0 0 GEORGE C W GATCH 1.0 X 0 0 0 C GARY GERST 1.0 X 0 0 0 WILLIAM F GLAVIN JR 1.0 X 0 0 0 JOHN T HALLER 1.0 X 0 0 0 BRENT R HARRIS 1.0 X 0 0 0 DIANA P HERRMANN 1.0 X 0 0 0 MELLODY HOBSON 1.0 X 0 0 0 GREGORY E JOHNSON 1.0 X 0 0 0 ROBERT M KEITH 1.0 X 0 0 0 SUSAN B KERLEY 1.0 X 0 0 0 JOHN Y KIM 1.0 X 0 0 0 ROBERT J MANNING 1.0 X 0 0 0 SUSAN B MCGEE 1.0 X 0 0 0 JOHN W MCGONIGLE 1.0 X 0 0 0 F WILLIAM MCNABB III 1.0 X 0 0 0 JAMES A MCNAMARA 1.0 X 0 0 0 JACQUES P PEROLD 1.0 X 0 0 0 DONALD H PRATT 1.0 X 0 0 0 KARLA M RABUSCH 1.0 X 0 0 0 ROBERT L REYNOLDS 1.0 X 0 0 0 JUDY RICE 1.0 X 0 0 0 JAMES E ROSS 1.0 X 0 0 0 THOMAS S SCHREIER JR 1.0 X 0 0 0 MICHAEL S SCOFIELD 1.0 X 0 0 0 MICHAEL D STROHM 1.0 X 0 0 0 JONATHAN S THOMAS 1.0 X 0 0 0 GARRETT THORNBURG 1.0 X 0 0 0 WILLIAM F TRUSCOTT 1.0 X 0 0 0 ROBERT W UEK 1.0 X 0 0 0 LLOYD A WENNLUND 1.0 X 0 0 0 PAUL SCHOTT STEVENS 40.0 X 1797798 0 247360 PETER H GALLARY 40.0 X 829325 0 64360 KAREN H MCMILLAN 40.0 X 863341 0 58936 FRANCES M STADLER 40.0 X 332983 0 65160 MARK A DELCOCO 40.0 X 174045 0 54705 BRIAN K REID 40.0 X 454020 0 53071 DONALD C AUERBACH 40.0 X 514897 0 53071 DEAN R SACKETT III 40.0 X 511658 0 68260 F GREGORY AHERN 40.0 X 507883 0 66359 MARY S PODESTA 40.0 X 393490 0 62953 KEITH D LAWSON 40.0 X 380092 0 65859 6759532 0 860094 63 false true false BAIN COMPANY INC THREE TIMES SQUARE 25TH FL NEW YORK NY 10036 CONSULTING SERVICES 1612500 PRICEWATERHOUSECOOPERS LLP 2001 MARKET STREET PHILADELPHIA PA 19103 AUDIT/CONSULTNG SVCS 561760 FOX ARCHITECTS 8444 WESTPARK DRIVE SUITE 120 MCLEAN VA 22102 ARCHITECTURAL SVCS 345344 COVINGTON BURLING LLP 1201 PENNSYLVANIA AVE NW WASHINGTON DC 20004 LEGAL SERVICES 328115 SARD VERBINNEN CO LLC 630 THIRD AVENUE NEW YORK NY 10017 CONSULTING SERVICES 268974 17 49706941 49706941 CONFERENCE & WORKSHOPS 900099 2335725 2335725 GENERAL MEMBERSHIP MEETING 900099 1818625 1818625 SUBSCRIPTION SERVICES 900099 953298 953298 SERVICE DIRECTORY 541800 254805 254805 FEE BASED BUSINESS INCOME 900099 294466 294466 5656919 752370 752370 0 887130 887130 9990511 9953192 37319 37319 37319 0 0 0 0 57040679 5402114 254805 1676819 50000 0 0 0 4349400 0 19986367 3766621 2639721 1207998 0 1844474 212057 1694823 0 0 0 0 1279677 994810 0 4063954 500105 0 5061790 0 0 1242960 210739 RESEARCH INFORMATION SERVICES 1311235 LOBBY PROXY TAX 1704465 PUBLIC COMMUNICATIONS 796402 UNRELATED BUSINESS INC TAX 47431 ICI GLOBAL 240312 1076827 54282168 897549 635641 540541 1069382 1852735 1304950 14353928 8553789 2978104 5800139 42044319 46420527 699217 783890 49012465 56014529 21124546 27546589 239353 507022 2659754 6667064 24023653 34720675 X 24988812 21293854 24988812 21293854 49012465 56014529 X 2758511 -6453469 X false true true X false false false false 49706941 4869898 4869898 4869898 5025936 1786931 3239005 9327992 6766858 2561134 5800139 0 RENT CREDIT 4240345 DEFERRED RENT 2426719 6667064 57040679 54282168 2758511 214183 -6667652 -6453469 -3694958 57254862 214183 214183 57040679 57040679 54282168 54282168 54282168 SCHEDULE D, PART X, LINE 2: FIN 48 FOOTNOTE TO FINANCIAL STATEMENTS THE COMPANY REVIEWS ALL UNCERTAIN TAX POSITIONS TO DETERMINE WHETHER A TAX POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTION OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS OF THE POSITION. FOR TAX POSITIONS MEETING THE MORE LIKELY THAN NOT THRESHOLD, THE TAX AMOUNT RECOGNIZED IN THE FINANCIAL STATEMENTS IS REDUCED BY THE LARGEST BENEFIT THAT HAS A GREATER THAN FIFTY PERCENT LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH THE RELEVANT TAXING AUTHORITY. THE COMPANY HAS EVALUATED ITS TAX POSITIONS AND DETERMINED THAT NO LIABILITY EXISTS AS OF SEPTEMBER 30, 2011. SCHEDULE D, PART XI, LINE 8: ACTUARIAL PENSION PLAN LOSS: -$6,667,652 Europe (Including Iceland and Greenland) 1 1 Program Services SEE PART V 240312 1 1 1 1 240312 240312 false false false false false false PART I, LINE 3, COLUMN (E): ICI GLOBAL SEEKS TO ADVANCE THE COMMON INTERESTS AND PROMOTE PUBLIC UNDERSTANDING OF GLOBAL INVESTMENT FUNDS, THEIR MANAGERS, AND INVESTORS. true ICI EDUCATION FOUNDATION 1401 H STREET NW WASHINGTON DC 20005 521659777 501(c)(3) 50000 0 NONE NONE RELATED ORGANIZATION 1 SCHEDULE I, LINE 1: THE ICI EDUCATION FOUNDATION WAS FOUNDED BY THE INVESTMENT COMPANY INSTITUTE IN 1989, AND THE INSTITUTE PREPARES AND MONITORS THE FOUNDATION'S BUDGET. X X true true X X X X X false true false PAUL SCHOTT STEVENS 895112 0 700000 0 202686 0 225478 0 21882 0 2045158 0 180000 0 PETER H GALLARY 621512 0 178617 0 29196 0 45477 0 18883 0 893685 0 0 0 KAREN H MCMILLAN 620704 0 225000 0 17637 0 45477 0 13459 0 922277 0 0 0 FRANCES M STADLER 313918 0 15000 0 4065 0 45477 0 19683 0 398143 0 0 0 MARK A DELCOCO 171813 0 0 0 2232 0 33038 0 21667 0 228750 0 0 0 BRIAN K REID 348071 0 102599 0 3350 0 45477 0 7594 0 507091 0 0 0 DONALD C AUERBACH 355917 0 156173 0 2807 0 45477 0 7594 0 567968 0 0 0 DEAN R SACKETT III 352058 0 156173 0 3427 0 45477 0 22783 0 579918 0 0 0 F GREGORY AHERN 375012 0 112344 0 20527 0 45477 0 20882 0 574242 0 0 0 MARY S PODESTA 326053 0 52602 0 14835 0 45477 0 17476 0 456443 0 0 0 KEITH D LAWSON 327112 0 48904 0 4076 0 45477 0 20382 0 445951 0 0 0 SCHEDULE J, LINE 1A: HEALTH CLUB OR SOCIAL CLUB DUES OR INITIATION FEES: SOCIAL CLUB MEMBERSHIP FOR BUSINESS PURPOSES IS PROVIDED TO CERTAIN INSTITUTE OFFICERS LISTED IN PART VII, SECTION A, LINE 1A. PERSONAL SERVICES: THE ONLY PERSONAL SERVICE PROVIDED IS FINANCIAL PLANNING, WHICH IS PROVIDED TO CERTAIN INSTITUTE EMPLOYEES LISTED IN PART VII, SECTION A, LINE 1. THIS AMOUNT IS INCLUDED IN TAXABLE INCOME. SCHEDULE J, LINE 4B: PRESIDENT PAUL SCHOTT STEVENS DEFERRED $180,000 OF COMPENSATION UNDER A NON-QUALIFIED DEFERRED COMPENSATION PLAN DURING CALENDAR YEAR 2010. THIS AMOUNT HAS BEEN INCLUDED ON SCHEDULE J, PART II, COLUMN (C). ON JUNE 1, 2010, HE RECEIVED A PAYOUT OF $180,000 FOR COMPENSATION DEFERRED SINCE JUNE 2009. THIS AMOUNT IS INCLUDED IN HIS W-2 BOX 5 COMPENSATION, AND IS INCLUDED IN SCHEDULE J, PART II, COLUMNS (B)(III) AND (F). PART VI, LINE 2: THE FOLLOWING BOARD MEMBERS HAVE BUSINESS RELATIONSHIPS BY SERVING TOGETHER ON THE SAME MUTUAL FUND BOARD: DONALD PRATT AND JONATHAN THOMAS; ASHOK BAKHRU AND JAMES MCNAMARA; SUSAN KERLEY AND JOHN KIM; ROBERT MANNING AND ROBERT UEK; MARY BUSH AND JOHN COGAN. THE FOLLOWING BOARD MEMBERS AND OFFICERS HAVE A BUSINESS RELATIONSHIP BY SERVING TOGETHER ON THE ICI MUTUAL BOARD OF DIRECTORS: JOHN COGAN; KENNETH EICH; DIANA HERRMANN; GREGORY JOHNSON; PAUL S. STEVENS; AND MICHAEL STROHM. PART VI, LINE 4: THE INVESTMENT COMPANY INSTITUTE'S ("THE INSTITUTE") BOARD APPROVED THE FOLLOWING AMENDMENT TO THE INSTITUTE'S BY-LAWS: AN INVESTMENT COMPANY WHICH IS WITHIN A GROUP OF INVESTMENT COMPANIES UNDER SUBSTANTIALLY COMMON MANAGEMENT CANNOT BE A MEMBER OF THE INSTITUTE UNLESS ALL INVESTMENT COMPANIES WITHIN THAT GROUP ARE MEMBERS OF THE INSTITUTE. PART VI, LINE 6: THE INVESTMENT COMPANY INSTITUTE ("THE INSTITUTE"), THE TRADE ASSOCIATION FOR THE MUTUAL FUND INDUSTRY, IS ORGANIZED INTO FIVE MEMBERSHIP DIVISIONS: THE OPEN-END INVESTMENT COMPANY DIVISION, THE CLOSED-END INVESTMENT COMPANY DIVISION, THE INVESTMENT ADVISER DIVISION, THE UNDERWRITER DIVISION, AND THE UNIT INVESTMENT TRUST DIVISION. EACH MEMBER OF THE OPEN-END INVESTMENT COMPANY DIVISION, THE CLOSED-END INVESTMENT COMPANY DIVISION AND THE UNIT INVESTMENT TRUST DIVISION IS ENTITLED TO ONE VOTE WITH RESPECT TO MATTERS AFFECTING ITS DIVISION, AND ONE VOTE WITH RESPECT TO MATTERS AFFECTING THE CORPORATION AS A WHOLE. EACH GROUP OF MEMBERS FROM THE INVESTMENT ADVISER DIVISION AND THE UNDERWRITER DIVISION, THE MEMBERS OF WHICH GROUPS ARE UNDER COMMON CONTROL, COLLECTIVELY ARE ENTITLED TO ONE VOTE WITH RESPECT TO MATTERS INVOLVING ITS OWN DIVISION AND ONE VOTE WITH RESPECT TO MATTERS INVOLVING THE CORPORATION AS A WHOLE. PART VI, LINE 7A AND 7B: MEMBERS OF THE INSTITUTE MEET ANNUALLY FOR THE PURPOSE OF ELECTING GOVERNORS TO SERVE ON THE INSTITUTE'S BOARD. THE NOMINATING COMMITTEE OF THE BOARD OF GOVERNORS PROPOSES NOMINEES FOR ELECTION AS GOVERNORS AT THE ANNUAL MEETING. MEMBERS APPROVE THE ELECTION OF THE NOMINEES TO THE BOARD. PART VI, LINE 11B: INSTITUTE MANAGEMENT AND AN EXTERNAL TAX ADVISER, PRICEWATERHOUSECOOPERS, REVIEW THE FORM 990 BEFORE IT IS PRESENTED TO THE AUDIT COMMITTEE AND THE COMPENSATION COMMITTEE OF THE BOARD OF GOVERNORS. BEFORE THE FORM 990 IS FILED, THE AUDIT COMMITTEE REVIEWS THE ENTIRE FORM. THE FORM 990 IS ALSO PROVIDED TO THE COMPENSATION COMMITTEE BEFORE IT IS FILED, AND THE COMPENSATION COMMITTEE REVIEWS THE COMPENSATION DISCLOSURES (PART VII AND SCHEDULE J). A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD OF GOVERNORS BEFORE IT IS FILED VIA A PASSWORD-PROTECTED WEBSITE. PART VI, LINE 12C: ANNUALLY, EMPLOYEES ARE REQUIRED TO SIGN AN ACKNOWLEDGEMENT FORM INDICATING THAT THEY HAVE READ AND UNDERSTAND THE INSTITUTE'S CONFLICT OF INTEREST POLICY. IN ADDITION, AND IN ORDER TO PROACTIVELY ADDRESS ANY POTENTIAL CONFLICTS OF INTEREST THAT MAY RESULT IN A MATERIALLY FINANCIAL BENEFIT, INSTITUTE BOARD MEMBERS, OFFICERS, KEY EMPLOYEES AND OTHER SELECTED SENIOR STAFF ARE REQUIRED TO ANNUALLY COMPLETE AND SUBMIT A DISCLOSURE FORM INDICATING WHETHER THEY OR THEIR FAMILY MEMBERS HAVE ANY OUTSIDE INTERESTS, ACTIVITIES, TRANSACTIONS, OR RELATIONSHIPS WHICH MAY CONSTITUTE A CONFLICT OF INTEREST. IF IT IS DETERMINED THAT A CONFLICT EXISTS THAT MATERIALLY AND ADVERSELY AFFECTS THE INTERESTS OF THE INSTITUTE, SUBSEQUENT ACTION MAY BE TAKEN SUCH AS RECUSING THE INDIVIDUAL FROM PARTICIPATION IN RELATED DISCUSSIONS OR DECISIONS WITHIN THE INSTITUTE, OR REQUESTING THE INDIVIDUAL'S RESIGNATION. IT MAY ALSO BE DETERMINED THAT NO ACTION IS NECESSARY AS THE CONFLICT IS UNLIKELY TO AFFECT THE INDIVIDUAL'S ABILITY TO ACT IN THE BEST INTERESTS OF THE INSTITUTE. PART VI, LINES 15A AND 15B: COMPENSATION FOR THE PRESIDENT & CEO, OFFICERS AND OTHER SENIOR STAFF IS REVIEWED AND APPROVED ANNUALLY BY THE COMPENSATION COMMITTEE ELECTED BY THE BOARD OF GOVERNORS. PRIOR TO MAKING ANY DECISIONS, COMPENSATION IS BENCHMARKED AGAINST EXTERNAL SURVEY DATA FOR COMPARABLE POSITIONS, INCLUDING DATA FROM NON-PROFIT SURVEYS, IRS FORM 990'S AND INDUSTRY SURVEYS. COMPENSATION IS ALSO DETERMINED IN CONSIDERATION OF INDIVIDUAL AND INSTITUTE PERFORMANCE AGAINST GOALS. THE COMPENSATION COMMITTEE AND THE INSTITUTE MAY ALSO PERIODICALLY RETAIN THE SERVICES OF AN INDEPENDENT COMPENSATION CONSULTANT TO ADDRESS EXECUTIVE COMPENSATION. RECOMMENDATIONS FOR THE PRESIDENT & CEO AND OTHER KEY STAFF ARE ALSO PRESENTED TO, AND APPROVED BY, THE EXECUTIVE COMMITTEE OF THE BOARD OF GOVERNORS. CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATIONS, DECISIONS AND ACTIONS OF THE COMPENSATION COMMITTEE AND THE EXECUTIVE COMMITTEE ARE DOCUMENTED IN THE MINUTES OF EACH COMMITTEE AND IN RECORDS MAINTAINED BY THE HUMAN RESOURCES DEPARTMENT. PART VI, LINE 19: THE INSTITUTE'S FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC VIA THE INSTITUTE'S WEBSITE. THE INSTITUTE'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. PART XI, LINE 5: UNREALIZED GAIN ON INVESTMENTS $214,183; ACTUARIAL PENSION LOSS -$6,667,652 ICI EDUCATION FOUNDATION 1401 H STREET NW WASHINGTON DC 20005 521659777 INV EDUCATION DE 501(C)(3) 11D NA ICI POLITICAL ACTION COMMITTEE 1401 H STREET NW WASHINGTON DC 20005 521539838 PAC DE 527 N/A NA false true false false false false false false false false false false true true true true false false