2012-08-27T10:06:40-05:00 2011-12-31 362938874 OSTROW REISIN BERK & ABRAMS LTD 455 N CITYFRONT PLAZA DRIVE SUITE 1 CHICAGO IL 606115313 990 2011-01-01 364313685 WORLD BUSINESS CHICAGO WORL 3125530500 177 NORTH STATE STREET NO 500 CHICAGO IL 60601 RITA ATHAS 3125530500 2012-08-13 1 LARRY SOPHIAN P00079652 3126707444 2011 2016-02-24 21:20:13Z RITA ATHAS 177 NORTH STATE STREET NO 500 CHICAGO IL 60601 27283370 0 X WWW.WORLDBUSINESSCHICAGO.COM X 1999 IL WORLD BUSINESS CHICAGO (WBC) IS AN ECONOMIC DEVELOPMENT OFFICE, COORDINATING BUSINESS RETENTION, ATTRACTION AND EXPANSION EFFORTS IN ORDER TO SPUR AND ACCELERATE ECONOMIC GROWTH. WBC RAISES CHICAGO'S PROFILE AS A PREMIER BUSINESS DESTINATION AND SERVES AS A RESOURCE FOR COMPANIES. 48 48 27 0 0 0 11024197 27176924 0 0 2122 2196 63760 104250 11090079 27283370 0 3067627 0 0 1562269 1489302 0 0 142764 4967378 2783418 6529647 7340347 4560432 19943023 7557843 24080319 173441 122166 7384402 23958153 X WORLD BUSINESS CHICAGO (WBC) IS AN ECONOMIC DEVELOPMENT OFFICE, COORDINATING BUSINESS RETENTION, ATTRACTION AND EXPANSION EFFORTS IN ORDER TO SPUR AND ACCELERATE ECONOMIC GROWTH. WBC RAISES CHICAGO'S PROFILE AS A PREMIER BUSINESS DESTINATION AND SERVES AS A RESOURCE FOR COMPANIES. 1 1 4322140 3067627 CHICAGO CAREER TECH IS AN INNOVATIVE JOB-RETRAINING INITIATIVE THAT CLOSES THE WORKFORCE SKILLS GAP BY PROVIDING BUSINESSES WITH TALENTED, RETRAINED PROFESSIONALS TO FILL NEEDED POSITIONS. CHICAGO CAREER TECH PROVIDES UNEMPLOYED EMERGING- AND MIDDLE-INCOME CHICAGO RESIDENTS WITH THE NEW SKILLS NECESSARY TO OBTAIN AND SUCCEED IN HIGH DEMAND TECHNOLOGY-BASED CAREERS. 2298930 PROMOTING CHICAGO AS A BUSINESS LOCATION. LEADING AND COORDINATING THE ECONOMIC DEVELOPMENT OF CHICAGO. 100317 GROUP OF EIGHT AND NORTH ATLANTIC TRADE ORGANIZATION EVENT - WBC IS RESPONSIBLE FOR THE ORGANIZATION AND PRODUCTION OF CERTAIN EVENTS IN CONNECTION WITH MEETINGS BEING CONDUCTED BY THE GROUP OF EIGHT FORUM AND THE NORTH ATLANTIC TREATY ORGANIZATION TO BE HELD IN CHICAGO IN MAY, 2012. 6721387 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 290 0 27 1 0 0 0 0 0 0 0 0 0 0 X 48 48 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 IL X CARRIE SIMMONS 3125530500 177 NORTH STATE STREET NO 500 CHICAGO IL 60601 RAHM EMANUEL 1.00 X 0 0 0 MICHAEL SACKS 1.00 X 0 0 0 ANTHONY ANDERSON 1.00 X 0 0 0 JEFF ARONIN 1.00 X 0 0 0 JAMES BELL 1.00 X 0 0 0 NORMAN BOBINS 1.00 X 0 0 0 MARSHALL BOUTON 1.00 X 0 0 0 BILL BRODSKY 1.00 X 0 0 0 GREGORY BROWN 1.00 X 0 0 0 DEBRA CAFARO 1.00 X 0 0 0 JAMES CROWN 1.00 X 0 0 0 DEBORAH DEHAAS 1.00 X 0 0 0 CRAIG J DUCHOSSOIS 1.00 X 0 0 0 TERRENCE DUFFY 1.00 X 0 0 0 DONALD EDWARDS 1.00 X 0 0 0 GEORGE FARR 1.00 X 0 0 0 JAMES GLERUM 1.00 X 0 0 0 ANTONIO GRACIAS 1.00 X 0 0 0 DANIEL HAMBURGER 1.00 X 0 0 0 MELLODY HOBSON 1.00 X 0 0 0 MARK HOPLAMAZIAN 1.00 X 0 0 0 STEVE KOCH 1.00 X 0 0 0 PAUL LAUDICINA 1.00 X 0 0 0 ERIC LEFKOFSKY 1.00 X 0 0 0 SAM MENCOFF 1.00 X 0 0 0 MICHAEL H MOSKOW 1.00 X 0 0 0 THOMAS MOTAMED 1.00 X 0 0 0 MICHAEL D O'HALLERAN 1.00 X 0 0 0 WILLIAM OSBORN 1.00 X 0 0 0 HANK PAULSON 1.00 X 0 0 0 JB PRITZKER 1.00 X 0 0 0 BRUCE RAUNER 1.00 X 0 0 0 JIM REYNOLDS 1.00 X 0 0 0 DESIREE ROGERS 1.00 X 0 0 0 JOHN W ROWE 1.00 X 0 0 0 PAT RYAN JR 1.00 X 0 0 0 MUNEER SATTER 1.00 X 0 0 0 SAMUEL SCOTT 1.00 X 0 0 0 JAMES SKOGSBERGH 1.00 X 0 0 0 JEFFERY SMISEK 1.00 X 0 0 0 DAVID SPEER 1.00 X 0 0 0 DAVID STORCH 1.00 X 0 0 0 GLENN F TILTON 1.00 X 0 0 0 CHARLES TRIBETT III 1.00 X 0 0 0 BYRON TROTT 1.00 X 0 0 0 GLEN TULLMAN 1.00 X 0 0 0 GREGORY WASSON 1.00 X 0 0 0 THOMAS WILSON 1.00 X 0 0 0 MAYOR RICHARD M DALEY 1.00 X 0 0 0 WILLIAM M DALEY 1.00 X 0 0 0 WILLIAM WRIGLEY JR 1.00 X 0 0 0 RITA ATHAS 45.00 X 182411 0 11250 DENNIS VICCHIARELLI 45.00 X 115607 0 8577 CARRIE SIMMONS 40.00 X 87343 0 13136 EVANS LYNE 40.00 X 101902 0 15142 CAROLYN PHILLIPS 40.00 X 147595 0 9761 634858 0 57866 4 0 1 0 0 9622741 17554183 27176924 2196 2196 SUBLEASE INCOME 900099 98250 98250 OTHER INCOME 900099 6000 6000 104250 27283370 0 0 106446 3067627 3067627 418324 303982 83213 31129 865408 667025 191212 7171 10292 9129 1163 109505 94420 13242 1843 85773 69476 13724 2573 23228 12978 10250 79980 70582 8583 815 71053 70950 103 59096 38765 19106 1225 17067 12060 4592 415 275409 222841 44332 8236 12270 11905 356 9 45944 37215 7351 1378 14891 12061 2383 447 CHICAGO CAREER TECH 1338866 1254513 51633 32720 TARGETED INITIATIVE 409017 408770 247 CHICAGO G8/NATO HOST 171737 100317 16617 54803 BAD DEBT 100000 100000 164860 156771 8089 7340347 6721387 476196 142764 6209396 11307871 1228065 12590115 4386 27434 13843 14425 1471085 1330611 101153 140474 1000 0 7557843 24080319 170612 57617 2829 64549 173441 122166 X 7038085 3539775 346317 20418378 7384402 23958153 7557843 24080319 X 19943023 -3369272 X 0 1 1 X 0 X 1951250 2140000 2045000 10996848 27176924 44310022 1951250 2140000 2045000 10996848 27176924 44310022 8221248 36088774 29940 17527 6708 2122 2196 58493 57992 72949 72137 63760 104250 371088 44739603 0.80660 0.96070 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 546608 538229 8379 320413 257681 62732 604064 534701 69363 140474 DEFERRED RENT 64549 64549 27283370 7340347 19943023 -3369272 -3369272 16573751 30481623 3198253 3198253 27283370 0 27283370 10538600 3198253 3198253 7340347 0 7340347 PART XI, LINE 8 - OTHER ADJUSTMENTS: TRANSFER OF ASSETS TO CHICAGO CAREER TECH -3,369,272. EAST ASIA 0 0 PROGRAM SERVICES DELEGATION TO HONG KONG AND CHINA TO PROMOTE BUSINESS RELATIONS BETWEEN CHICAGO AND ASIA 95999 0 0 0 0 0 0 95999 0 95999 0 0 0 0 0 0 1 CHICAGO CAREER TECH 177 N STATE ST SUITE 500 CHICAGO IL 60601 451287418 501(C)(3) 3067627 CCT PROVIDES UNEMPLOYED EMERGING- AND MIDDLE-INCOME CHICAGO RESIDENTS WITH THE NEW SKILLS NECESSARY TO OBTAIN AND SUCCEED IN HIGH DEMAND TECHNOLOGY-BASED CAREERS. 1 0 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: WORLD BUSINESS CHICAGO MONITORS CHCAGO CAREER TECH'S GRANT BY REVIEWING THE BUDGET PROPOSAL PROVIDED FOR THE GRANT FUNDS WITH THEIR ACTUALS. THE REPORTS ARE MAINLY DONE ON A QUARTERLY BASIS OR WHEN FUNDS ARE NEEDED FOR REIMBURSEMENT PER THE GRANT AGREEMENT. X X 0 0 0 0 0 0 0 0 0 RITA ATHAS 182411 0 0 0 0 0 5194 0 6056 0 193661 0 0 0 CAROLYN PHILLIPS 147595 0 0 0 0 0 4464 0 5297 0 157356 0 0 0 NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 GROUP OF EIGHT AND NORTH ATLANTIC TRADE ORGANIZATION EVENT - WBC IS RESPONSIBLE FOR THE ORGANIZATION AND PRODUCTION OF CERTAIN EVENTS IN CONNECTION WITH MEETINGS BEING CONDUCTED BY THE GROUP OF EIGHT FORUM AND THE NORTH ATLANTIC TREATY ORGANIZATION TO BE HELD IN CHICAGO IN MAY, 2012. CHANGES IN PROGRAM SERVICES FORM 990, PART III, LINE 3 ON MARCH 30, 2011, THE CHICAGO CAREER TECH PROGRAM WAS SPUN OFF INTO ITS OWN LEGAL ENTITY SEPARATE FROM WORLD BUSINESS CHICAGO. ONLY CHICAGO CAREER TECH ACTIVITY THROUGH MARCH 30, 2011 HAS BEEN INCLUDED IN THIS RETURN. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION AMENDED AND RESTATED ITS BY-LAWS DURING THE YEAR. CHANGES INCLUDE: 1. STATED THE PURPOSE OF WORLD BUSINESS CHICAGO (WBC) SUCH THAT IT IS CONSISTENT WITH THE ARTICLES OF INCORPORATION AND WBC'S MISSION. 2. INCREASED THE SIZE OF THE BOARD TO 45-50 MEMBERS. 3. CONSISTENT WITH BEST PRACTICES, RESTRICTED EMPLOYEES OF WBC FROM SERVING ON THE BOARD. 4. TO INCREASE THE EFFECTIVENESS OF THE BOARD GIVEN ITS LARGE SIZE, ONLY 1/3 OF THE BOARD (RATHER THAN A MAJORITY) IS REQUIRED TO CONSTITUTE A QUORUM AND THAT THE ACT OF A MAJORITY OF THE DIRECTORS PRESENT AT A MEETING AT WHICH A QUORUM IS PRESENT CONSTITUTES AN ACT OF THE BOARD OF DIRECTORS. 5. REVISED THE TITLES OF THE OFFICERS TO CONFORM TO THE TITLES ACTUALLY GIVEN TO WBC OFFICERS. 6. THE PRESIDENT SHALL BE ELECTED UPON THE RECOMMENDATION OF THE CHAIRMAN AND VICE CHAIRMAN, AND APPROVAL BY THE BOARD OF DIRECTORS. THE REMAINING OFFICERS SHALL BE ELECTED BY RESOLUTION OF THE BOARD OR, AT THE BOARD'S DISCRETION, BY APPOINTMENT BY THE PRESIDENT OF WBC. 7. THE CREATION OF AN EXECUTIVE COMMITTEE, CONSISTING OF THE VICE CHAIRMAN AND OTHER DIRECTORS APPOINTED BY THE BOARD, WHICH SHALL BE EMPOWERED TO ACT ON BEHALF OF THE BOARD BETWEEN MEETINGS OF THE FULL BOARD AND SHALL BE RESPONSIBLE FOR (I) REVIEWING WBC'S FISCAL PROCEDURES AND APPROVING THE ANNUAL BUDGET AND (II) OVERSEEING WBC'S GOVERNANCE, COMPLIANCE AND ETHICS PROGRAMS. 8. REQUIRED THAT ANY COMMITTEE HAVE AT LEAST TWO OR MORE DIRECTORS AS MEMBERS, AND THAT THE MAJORITY OF ANY COMMITTEES MEMBERS SHALL BE DIRECTORS. 9. THE VICE CHAIRMAN, IN ADDITION TO THE CHAIRMAN, CAN APPOINT A CHAIRMAN OF EACH COMMITTEE. 10. SHORTENED THE NOTICE REQUIREMENT FOR A MEETING AT WHICH AMENDMENT OF THE BYLAWS WILL BE CONSIDERED TO TEN DAYS FROM FIFTEEN DAYS. FORM 990, PART VI, SECTION B, LINE 11 THE WORLD BUSINESS CHICAGO EXECUTIVE COMMITTEE REVIEWS THE FORM 990 AND VOTES ON WHETHER OR NOT TO APPROVE THE DOCUMENT. THE EXECUTIVE COMMITTEE ALSO DISCUSSES THE CONTENTS WITH THE FULL BOARD OF DIRECTORS. ALL MEMBERS OF THE BOARD OF DIRECTORS RECEIVE A COPY OF FORM 990 PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C WORLD BUSINESS CHICAGO HAS A WRITTEN CONFLICT OF INTEREST POLICY. EACH YEAR, BOARD MEMBERS ARE ASKED TO DISCLOSE ANY CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 DURING 2009, A MEMBER OF THE EXECUTIVE COMMITTEE RESEARCHED THE SALARIES AT ORGANIZATIONS WITH SIMILAR SIZE AND SCOPE TO DETERMINE IF CURRENT SALARIES ARE REASONABLE. IN 2010 AND IN FUTURE COMPENSATION ADJUSTMENTS, THE EXECUTIVE COMMITTEE WILL REVIEW AND APPROVE THE SALARIES OF THE PRESIDENT AND ANY OFFICERS OR HIGHLY COMPENSATED EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 WORLD BUSINESS CHICAGO (WBC) ADOPTED A TRANSPARENCY POLICY WHICH STATES THAT ANNUALLY, WBC WILL MAKE PUBLIC A COPY OF ITS AUDITED GAAP FINANCIAL STATEMENTS. WBC DOES NOT MAKE ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC BEYOND THE INFORMATION DISCLOSED ON WWW.GUIDESTAR.ORG. FORM 990, PART XI, LINE 5: OTHER CHANGES IN NET ASSETS TRANSFER OF ASSETS TO CHICAGO CAREER TECH = -$3,369,272