2012-11-01T15:12:44-05:00 2011-12-31 420714325 MCGLADREY LLP 8000 TOWERS CRESCENT DR STE 500 VIENNA VA 221826205 990 2011-01-01 520887806 INTERNATIONAL ECONOMIC DEVELOPMENT COUNCIL INTE 2022234735 734 15TH STREET NW NO 900 WASHINGTON DC 20005 SHARON COY 2022234735 2012-10-31 1 YONG ZHANG CPA P01249785 7033366400 2011 2016-02-24 21:20:13Z JEFFREY A FINKLE 734 15TH STREET NW NO 900 WASHINGTON DC 20005 5725854 0 X WWW.IEDCONLINE.ORG X 2001 WI THE PURPOSE OF THE COUNCIL IS TO DEVELOP POLICIES AN ADVANCE THE PROFESSION OF ECONOMIC DEVELOPMENT AND SERVE AS A CLEARINGHOUSE FOR INFORMATION ON LOCAL ECONOMIC PROBLEMS AND SITUATIONS. 48 48 46 10 112459 0 1089258 1399852 4387906 3297341 9705 28661 0 0 5486869 4725854 0 0 0 0 2873890 2498145 0 0 0 2265474 2184613 5139364 4682758 347505 43096 4085100 3963408 1679510 1519032 2405590 2444376 X IEDC IS A MEMBERSHIP ORGANIZATION DEDICATED TO HELPING ECONOMIC DEVELOPERS DO THEIR JOB MORE EFFECTIVELY AND RAISING THE PROFILE OF THE PROFESSION. THE ORGANIZATION'S MISSION IS TO PROVIDE LEADERSHIP AND EXCELLENCE IN ECONOMIC DEVELOPMENT FOR OUR COMMUNITIES, MEMBERS, AND PARTNERS. 0 0 2312162 3593487 THE IEDC ADVISORY SERVICES AND RESEARCH (ASR) DEPARTMENT WORKED TO IMPROVE ECONOMIC OPPORTUNITIES FOR COMMUNITIES AND REGIONS; PROVIDED TECHNICAL ASSISTANCE AND CUSTOMIZED ANALYSIS THAT HELPED CREATE SUSTAINABLE ECONOMIC DEVELOPMENT SOLUTIONS. WE KEPT ECONOMIC DEVELOPMENT PROFESSIONALS INFORMED ON ISSUES AND TRENDS IN THE FIELD THROUGH RESEARCH, PUBLICATIONS, AND INFORMATION DISSEMINATION. 2312162 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 20 0 1 46 1 1 1 0 0 0 0 0 0 0 X 48 48 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 0 1 1 1 0 X JEFFREY FINKLE 2022234735 734 15TH STREET NW NO 900 WASHINGTON DC 20005 DENNIS COLEMAN CECD FM 10.00 X X 0 0 0 JAY MOON CECD FM 10.00 X X 0 0 0 PAUL KRUTKO FM 10.00 X X 0 0 0 WILLIAM SPROULL FM 10.00 X X 0 0 0 LYNN MARTIN HASKINS PHD 10.00 X X 0 0 0 BARRY MATHERLY CECD 10.00 X X 0 0 0 WILLIAM BEST FM 10.00 X X 0 0 0 DYAN BRASINGTON CECD FM 10.00 X X 0 0 0 JOANN CRARY CECD 10.00 X X 0 0 0 DIANE LUPKE CECD FM 10.00 X X 0 0 0 SCOTT ADAMS CECD 5.00 X 0 0 0 WILLIAM ALLAN 5.00 X 0 0 0 CHARLES ALVEY CECD 5.00 X 0 0 0 RITA ATHAS 5.00 X 0 0 0 IVAN BAKER CECD 5.00 X 0 0 0 MARK BARBASH FM 5.00 X 0 0 0 HOWARD BENSON 5.00 X 0 0 0 DAVID BERZINA CECD 5.00 X 0 0 0 TIM CHASE CECD FM 5.00 X 0 0 0 TEDRA CHEATHAM CECD 5.00 X 0 0 0 J VANN CUNNINGHAM 5.00 X 0 0 0 KENNETH DOBSON FM 5.00 X 0 0 0 MAURICE EWING CECD 5.00 X 0 0 0 NEIL EVERSON CECD 5.00 X 0 0 0 JACQUES EVRARD 5.00 X 0 0 0 ROBERT FINE 5.00 X 0 0 0 KRISTEN FISH CECD 5.00 X 0 0 0 THOMAS FLYNN CECD 5.00 X 0 0 0 RAYMOND GILLEY 5.00 X 0 0 0 GERALD GORDON PHD FM HLM 5.00 X 0 0 0 TODD GREENE CECD 5.00 X 0 0 0 DANIEL GUNDERSON 5.00 X 0 0 0 DON HOLBROOK CECD FM 5.00 X 0 0 0 DONALD JAKEWAY 5.00 X 0 0 0 BARBARA JOHNSON 5.00 X 0 0 0 JAMES KINNETT II CECD FM 5.00 X 0 0 0 THOMAS KURCHARSKI CECD 5.00 X 0 0 0 ANDREW LEVINE 5.00 X 0 0 0 GAIL LEWIS 5.00 X 0 0 0 JUDY MCKINNEY-CHERRY CECD 5.00 X 0 0 0 JANET MILLER CECD FM 5.00 X 0 0 0 FRED MORLEY 5.00 X 0 0 0 PHILLIP PHILLIPS PHD CECD 5.00 X 0 0 0 JOY POOLER CECD FM 5.00 X 0 0 0 CRAIG RICHARD CECD 5.00 X 0 0 0 WAYNE SCHELL FM 5.00 X 0 0 0 MIKE SCHWENK 5.00 X 0 0 0 WALTER SPROUSE JR CECD CCE FM 5.00 X 0 0 0 KLAUS THIESSEN 5.00 X 0 0 0 ALLISON THOMPSON CECD EDFP 5.00 X 0 0 0 ANAEALIO UBALDE FM 5.00 X 0 0 0 STEVE WEATHERS CECD 5.00 X 0 0 0 HOLLY WIEDMAN 5.00 X 0 0 0 JOY WILKINS CECD 5.00 X 0 0 0 ROY WILLIAMS 5.00 X 0 0 0 JEFF FINKLE 40.00 X 281822 0 56715 SHARON COY 40.00 X 115076 0 21084 396898 0 77799 2 0 1 0 THE CHOICE INC PO BOX 62408 BALTIMORE MD 21264 TEMPORARY STAFFING AGENCY 242003 AMERICAN EXPRESS PO BOX 1270 NEWARK NJ 07101 CORPORATE CREDIT CARD 198144 CHARLOTTE CONVENTION CENTER 501 SOUTH COLLEGE STREET CHARLOTTE NC 28202 CONFERENCE 121180 NIMBLE USER 656 KREAG ROAD PITTSFORD NY 14534 IT SERVICE 101215 4 1103706 286144 10002 1399852 CONFERENCE 900099 2120584 2120584 EDUCATION/CERTIFICATIO 900099 696610 696610 ADVISORY SERVICES AND 900099 367688 367688 EMPLOYMENT SERVICES 561300 112459 112459 3297341 28661 28661 1000000 1000000 0 0 4725854 3184882 112459 28661 474697 286540 188157 1430583 863540 567043 110507 66705 43802 346285 209028 137257 136073 82137 53936 13469 13469 62349 62349 536984 282194 254790 6877 4782 2095 484323 258415 225908 65177 1310 63867 235713 235713 92219 55993 36226 555217 508427 46790 18685 18685 17196 17196 DUES & SUBSCRIPTIONS 42961 29678 13283 BAD DEBT EXPENSE 27219 27219 OTHER EXPENSES 26224 68244 -42020 OVERHEAD ALLOCATION 0 -404831 404831 4682758 2312162 2370596 0 774343 1569559 469852 653530 560832 321247 9363 8825 168212 213627 797368 696129 22066 101239 2065794 1080743 14638 14638 4085100 3963408 379474 300751 1182309 1086857 117727 131424 1679510 1519032 X 2243059 2349828 162531 94548 2405590 2444376 4085100 3963408 X 43096 -4310 X X 0 1 1 X 0 X 1174657 1192321 1730939 1089258 1399852 6587027 1174657 1192321 1730939 1089258 1399852 6587027 6587027 36061 25441 11717 9705 28661 111585 6698612 18068472 0.98330 0.95650 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 797368 696129 101239 101239 OBLIGATION UNDER NONQUALIFIED EMPLOYEE BENEFIT PLAN 131424 131424 4725854 4682758 43096 -4310 -4310 38786 4721544 -4310 -4310 4725854 0 4725854 4682758 0 4682758 0 4682758 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COUNCIL HAS ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS POLICY, THE COUNCIL MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WOULD BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT HAS EVALUATED THE COUNCIL'S TAX POSITIONS AND HAS CONCLUDED THAT THE COUNCIL HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THIS GUIDELINE. THE COUNCIL WOULD BE LIABLE FOR INCOME TAXES IN THE U.S. FEDERAL JURISDICTION. GENERALLY, THE COUNCIL IS NO LONGER SUBJECT TO U.S. FEDERAL TAX EXAMINATIONS BY TAX AUTHORITIES BEFORE 2008. X 1 1 X X X X 0 1 0 0 0 0 0 0 0 JEFF FINKLE 235495 0 46327 0 0 0 39741 0 16974 0 338537 0 0 0 PART I, LINE 1A THE ORGANIZATION PAYS $400 PER MONTH FOR THE PRESIDENT & CEO'S GOLF CLUB DUES, WHICH IS NOT TAXABLE BENEFIT. PART I, LINE 4B THE COUNCIL MAINTAINS A NON-QUALIFIED EMPLOYEE BENEFIT PLAN FOR ITS PRESIDENT, WHICH IS FUNDED THROUGH ANNUITY CONTRACTS. THE AMOUNT CONTRIBUTED SHALL BE 8% OF EMPLOYEE'S BASE SALARY EACH YEAR NOT TO EXCEED LEGAL LAMINATIONS. FORM 990, PART VI, SECTION A, LINE 6 IEDC HAS THE FOLLOWING MEMBERS: -ACTIVE MEMBER: MEMBERSHIP IN THE COUNCIL SHALL BE OPEN TO GOVERNMENTAL AGENCIES, PRIVATE ORGANIZATIONS AND INDIVIDUALS ENGAGED IN OR CONCERNED WITH LOCAL, REGIONAL, STATE AND PROVINCIAL ECONOMIC AND COMMUNITY DEVELOPMENT UPON APPLICATION TO, AND ACCEPTANCE BY, THE PRESIDENT, IN ACCORDANCE WITH SPECIFICATIONS OF THE EXECUTIVE COMMITTEE. ACTIVE MEMBERSHIP EMBRACES ALL MEMBERSHIP PRIVILEGES, INCLUDING BUT NOT LIMITED TO THE POWER TO AMEND THESE BYLAWS AS HEREINAFTER PROVIDED. -MEMBERS IN TRANSITION: DESIGNATION IS AVAILABLE TO FORMER MEMBERS IN GOOD STANDING OR OTHER INDIVIDUALS WHO HAVE BEEN ACTIVE IN THE AFFAIRS OF THE COUNCIL AND WHO CURRENTLY ARE NOT EMPLOYED IN ECONOMIC DEVELOPMENT BUT WHO DESIRE TO MAINTAIN AN ASSOCIATION WITH AND TO FURTHER THE PURPOSE OF THE COUNCIL. AN INACTIVE MEMBER CANNOT VOTE OR HOLD OFFICE AND IS ELIGIBLE FOR MEMBERSHIP PRIVILEGES AS DEFINED BY THE BOARD OF DIRECTORS. -STUDENT MEMBER CRITERIA: DESIGNATION IS AVAILABLE TO INDIVIDUALS WHO ARE FULL-TIME STUDENTS AT THE GRADUATE OR UNDERGRADUATE LEVEL. A STUDENT MEMBER MAY NOT VOTE OR HOLD OFFICE, BUT MAY SERVE ON COMMITTEES, AND IS ELIGIBLE FOR MEMBERSHIP PRIVILEGES AS DEFINED BY THE BOARD OF DIRECTORS. -FELLOW OF THE COUNCIL STATUS: A FELLOW OF THE AMERICAN ECONOMIC DEVELOPMENT COUNCIL SHALL BE ENTITLED TO USE THIS HONORIFIC WITH THE IEDC AS LONG AS MEMBERSHIP IN THE COUNCIL IS MAINTAINED. -HONORARY LIFE MEMBER STATUS: HONORARY LIFE MEMBERS OF THE AMERICAN ECONOMIC DEVELOPMENT COUNCIL SHALL BE ENTITLED TO USE THIS HONORIFIC WITH THE IEDC AS LONG AS MEMBERSHIP IN THE COUNCIL IS MAINTAINED. -EMERITUS MEMBER STATUS: EMERITUS MEMBERS OF THE AMERICAN ECONOMIC DEVELOPMENT COUNCIL SHALL BE ENTITLED TO USE THIS HONORIFIC WITH THE IEDC AS LONG AS MEMBERSHIP IN THE COUNCIL IS MAINTAINED. FORM 990, PART VI, SECTION A, LINE 7A THE NAMES OF THE MEMBERS OF THE NOMINATING COMMITTEE APPOINTED PURSUANT TO ARTICLE VII, PARAGRAPH 2 OF THE BYLAWS SHALL BE MAILED TO THE MEMBERSHIP OF THE COUNCIL AT LEAST 120 DAYS PRIOR TO THE ANNUAL MEETING. MEMBERS SHALL BE INVITED TO SUBMIT RECOMMENDATIONS FOR DIRECTORS TO THE NOMINATING COMMITTEE. RECOMMENDATIONS WILL BE CONSIDERED AS VALIDLY SUBMITTED IF THE NOMINATION, ACCOMPANIED BY A ONE PARAGRAPH BIOGRAPHIC STATEMENT ON THE CANDIDATE AND EITHER A PETITION SIGNED BY TWENTY (20) MEMBERS OR LETTERS OF ENDORSEMENT FROM TWENTY (20) MEMBERS (OR SOME COMBINATION THEREOF), IS RECEIVED WITHIN SIXTY (60) DAYS OF THE DATE OF THE ABOVE REFERENCED MAILING TO MEMBERS. THE NOMINATING COMMITTEE SHALL NOMINATE A SLATE OF DIRECTORS FOR ELECTION AT THE ANNUAL MEETING OF THE BOARD, SUCH SLATE TO INCLUDE AS MANY NOMINEES AS THERE ARE VACANCIES TO BE FILLED AS OF THE ANNUAL MEETING. THE NOMINATING COMMITTEE SHALL CONSIDER ANY INDIVIDUAL WITH RESPECT TO WHOM IT HAS RECEIVED A VALID RECOMMENDATION, BUT MAY ALSO DRAW FROM THE MEMBERSHIP AT LARGE (INCLUDING ANY NON-MEMBER WHO HAS AGREED TO BECOME A MEMBER OF THE COUNCIL IF ELECTED TO SERVE AS DIRECTOR). NOMINATIONS SHOULD ASSURE GEOGRAPHIC, ETHNIC, AND GENDER DIVERSITY TO REFLECT THE PROFESSION. WITH RESPECT TO THE PROSPECTIVE NOMINATIONS OF CURRENT DIRECTORS WHO MAY BE UNDER CONSIDERATION TO SERVE EITHER A 3RD OR 4TH CONSECUTIVE TERM, THE NOMINATIONS COMMITTEE SHALL CONSIDER AND EVALUATE THE LEVEL OF PARTICIPATION, PERFORMANCE, AND CONTRIBUTIONS OF ANY SUCH PROSPECTIVE NOMINEES, WHO SHALL REQUIRE THE ENDORSEMENT OF THE EXECUTIVE COMMITTEE. AT LEAST THIRTY (30) DAYS PRIOR TO THE ANNUAL MEETING THE NOMINATING COMMITTEE SHALL MAIL TO THE MEMBERSHIP ITS SLATE OF NOMINEES ALONG WITH A ONE-PARAGRAPH BIOGRAPHICAL STATEMENT SUBMITTED BY EACH NOMINEE. SUCH MAILING SHALL ALSO INCLUDE THE NAMES AND BIOGRAPHICAL STATEMENTS OF ANY INDIVIDUALS, NOT INCLUDED ON THE NOMINATING COMMITTEE'S SLATE, WITH RESPECT TO WHOM A VALID RECOMMENDATION WAS SUBMITTED. THE SLATE OF NOMINEES RECOMMENDED BY THE NOMINATING COMMITTEE MAY BE ELECTED AT THE ANNUAL MEETING OF THE BOARD BY A MAJORITY VOTE OF THOSE BOARD MEMBERS PRESENT AND VOTING. IF A MAJORITY OF MEMBERS PRESENT AND VOTING FAIL TO VOTE AFFIRMATIVELY FOR THE SLATE OF NOMINEES, SUBSEQUENT VOTING SHALL BE BY WRITTEN BALLOT. SUCH BALLOT SHALL INCLUDE THE NAMES OF ALL CANDIDATES ON THE NOMINATING COMMITTEE'S SLATE AS WELL AS ALL OTHER CANDIDATES WHOSE NOMINATION WAS VALIDLY SUBMITTED PURSUANT TO PARAGRAPH 3 TO THE NOMINATING COMMITTEE. VOTING SHALL BE NON-CUMULATIVE, AND THOSE CANDIDATES RECEIVING THE HIGHEST NUMBER OF VOTES SHALL BE ELECTED. IN THE EVENT OF A TIE VOTE, A RUN-OFF ELECTION SHALL BE HELD. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION PROVIDED A COPY OF THE FORM 990 TO ITS BOARD OF DIRECTORS TO REVIEW BEFORE THE FINAL FORM 990 WAS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S BOARD HANDBOOK CONTAINS A "CONFLICT OF INTEREST DISCLOSURE FORM" WHICH IS COMPLETED BY EACH BOARD MEMBER ANNUALLY. POTENTIAL CONFLICTS ARE INVESTIGATED AS NECESSARY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION UTILIZES A COMPENSATION COMMITTEE (MEMBERS OF THE GOVERNANCE COMMITTEE) TO REVIEW THE PRESIDENT/CEO'S EMPLOYMENT AGREEMENT ANNUALLY WITH THE ASSISTANCE OF A THIRD PARTY CONSULTING FIRM. THE COMPENSATION COMMITTEE ESTABLISHES THE ANNUAL GOALS FOR THE PRESIDENT/CEO. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST OF THE ORGANIZATION'S SENIOR DIRECTOR OF FINANCE & ADMINISTRATION. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -4,310. FORM 990, PART XII, LINE 2C THE ORGANIZATION'S AUDIT COMMITTEE IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF THE INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.