2026-03-19T11:31:50-05:00 2025-05-31 135565207 KPMG LLP TWO MANHATTAN WEST 375 9TH AVENUE NEW YORK NY 10001 990 2024-06-01 131776434 CONSUMER REPORTS INC CONS 9143782000 101 TRUMAN AVENUE YONKERS NY 107031044 JOHN LOUGHREN CONTROLLER 9143782000 2026-03-18 1 0 EVAN W SEEKAMP P01907071 2127589700 2026-03-17 2024 2025-03-06 01:10:19Z PHIL RADFORD 101 TRUMAN AVENUE YONKERS NY 107031044 274555438 0 X WWW.CONSUMERREPORTS.ORG X 1936 NY WE ARE AN INDEPENDENT, NONPROFIT MEMBER ORGANIZATION THAT WORKS SIDE BY SIDE WITH CONSUMERS. SEE SCHEDULE O.WE ARE AN INDEPENDENT, NONPROFIT MEMBER ORGANIZATION THAT WORKS SIDE BY SIDE WITH CONSUMERS FOR TRUTH, TRANSPARENCY, AND FAIRNESS IN THE MARKETPLACE. 11 11 579 16 13758979 2649001 32092864 38838385 209381249 208122826 24183632 19975624 485360 297585 266143105 267234420 10000 11500 0 0 120002560 110486674 154822 141889 10637717 144255812 134017129 264423194 244657192 1719911 22577228 473542307 474492695 176473387 143126533 297068920 331366162 X WE ARE AN INDEPENDENT, NONPROFIT MEMBER ORGANIZATION THAT WORKS SIDE BY SIDE WITH CONSUMERS FOR TRUTH, TRANSPARENCY, AND FAIRNESS IN THE MARKETPLACE. 0 0 197517446 11500 208122826 CONSUMER INFORMATION, PRODUCT INFORMATION: SEE SCHEDULE O FORADDITIONAL INFORMATION. 12220833 EDUCATION PROGRAMS, HEALTH INFORMATION AND SAFETY: SEESCHEDULE O FOR ADDITIONAL INFORMATION. 209738279 1 1 0 1 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 1 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 194 0 1 579 1 1 1 1 CA 0 0 0 1 1 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AR CA CT FL GA HI IL KS KY MA MD MI MN MS NC ND NH NJ NM NY OK OR PA RI SC TN VA WA WI WV X X JOHN LOUGHREN CPA 9143782000 101 TRUMAN AVENUE YONKERS NY 107031044 SONAL SHAH CHAIR 2.00 0.00 X 0 0 0 ELLEN TAUS CHAIR (THRU 12/18/24) 2.00 0.00 X 0 0 0 RUSSELL G NOLES VICE CHAIR (THRU 12/9/24) 2.00 0.00 X 0 0 0 JOAQUIN ALVARADO DIRECTOR (THRU 12/31/24) 2.00 0.00 X 0 0 0 MILLIE CHU BAIRD DIRECTOR 2.00 0.00 X 0 0 0 DEBORAH A COWAN DIRECTOR (THRU 10/16/24) 2.00 0.00 X 0 0 0 STEPHEN P HOOVER DIRECTOR 2.00 0.00 X 0 0 0 JOANNE HOVIS DIRECTOR 2.00 0.00 X 0 0 0 JAMESON KELLEHER DIRECTOR 2.00 0.00 X 0 0 0 KATHERINE MAHER DIRECTOR 2.00 0.00 X 0 0 0 WILLIE E MAY DIRECTOR (THRU 1/1/25) 2.00 0.00 X 0 0 0 IVAN ROSALES DIRECTOR 2.00 0.00 X 0 0 0 CALVIN SIMS DIRECTOR 2.00 0.00 X 0 0 0 TAREN STINEBRICKNER-KAUFFMAN DIRECTOR 2.00 0.00 X 0 0 0 ASTRID VERMEER DIRECTOR 2.00 0.00 X 0 0 0 DAVID WAN DIRECTOR 2.00 0.00 X 0 0 0 MARTA L TELLADO PRESIDENT & CEO (THRU 12/31/24) 45.00 0.00 X 887044 0 37432 ERIC WAYNE SVP, CFO 45.00 0.00 X 483340 0 79486 PHIL RADFORD PRESIDENT & CEO (AS OF 2/3/25) 45.00 0.00 X 0 0 0 LAUREN STANICH SVP, CHIEF GROWTH OFFICER 45.00 0.00 X 495044 0 76747 MICHAEL HUBNER VP, GENERAL COUNSEL 45.00 0.00 X 489852 0 37433 JESSICA FREIREICH SVP, CHIEF STRATEGY OFFICER 45.00 0.00 X 416578 0 77565 ESTHER HAN VP, CHIEF VENTURES OFFICER 45.00 0.00 X 409601 0 64535 SHAREE MCKENZIE VP, CHIEF SOCIAL IMPACT OFC. (THRU 8/16/24) 45.00 0.00 X 406884 0 26369 YANA BULA VP, CHIEF EXPERIENCE OFFICER 45.00 0.00 X 385459 0 42707 GENEA BELL VP, CHIEF PEOPLE OFFICER 45.00 0.00 X 367132 0 48114 RIPA RASHID CHIEF D&I OFC. (THRU 11/1/24) 45.00 0.00 X 247023 0 36883 HEATH GRAYSON CHIEF PRIVACY OFFICER & DEPUTY GENERAL COUNSEL 45.00 0.00 X 357480 0 65349 LILIAN KAYIZZI VP, TESTING, RESEARCH & INSIGHTS 45.00 0.00 X 347544 0 36850 CORINNE OSBORN SR DIR LABOR & EMPL RELS 45.00 0.00 X 347099 0 68349 JENNIFER SHECTER VP, CHIEF CONTENT OFFICER 45.00 0.00 X 340288 0 73665 BENJAMIN MOSKOWITZ VP, INNOVATION LAB 45.00 0.00 X 336550 0 48640 6316918 0 820124 462 0 1 0 GOOGLE INC 1600 AMPHITHEATRE PARKWAY MOUNTAIN VIEW CA 94043 SEARCH ENGINE MARKETING 15713784 DIAMOND COMMUNICATIONS 1209 31ST AVENUE COUNCIL BLUFFS IA 51501 FULFILLMENT SERVICES 4789775 HCL AMERICA INC SUITE NO 101 401 2600 GREAT AMERICA WAY SAN CA 95054 MARKETING 2968010 ACXIOM CORPORATION 601 E THIRD STREET LITTLE ROCK AR 72201 INFORMATION TECHNOLOGY SERVICE 2784788 META PLATFORMS INC (FACEBOOK) 1601 WILLOW RD MENLO PARK CA 94025 MARKETING 2480311 107 217273 38621112 41562 38838385 ONLINE SUBSCRIP. SALES 900099 121740581 109966464 11774117 SUBSCRIP., NEWSSTAND 513110 81259884 81259884 DATA INTELLIGENCE 519190 5032361 3047499 1984862 TESTING REVENUE 541380 90000 90000 208122826 4615661 4615661 297585 297585 22680981 7321018 15359963 15359963 15359963 267234420 194363847 13758979 20273209 11500 11500 4770709 2155495 2615214 79750400 69333558 8325806 2091036 7468740 6599823 664583 204334 12212687 10683774 1202072 326841 6284138 5463316 656053 164769 2938004 2923943 14061 443500 443500 141889 141889 566003 566003 13489864 11736153 1735792 17919 33666598 33242540 41679 382379 702708 605143 89828 7737 8037079 6379089 1591008 66982 2839089 2376328 456522 6239 974413 842098 119720 12595 360062 240405 100181 19476 95419 95419 12973929 12590763 359059 24107 1414938 1414938 POSTAGE AND SHIPPING 19301385 15610375 2721 3688289 ORDER PROCESSING 10976081 9555492 39447 1381142 PRINTING & PUBLICATION 10614251 8762627 305 1851319 PRODUCT TESTING 4057736 4057736 10566070 9492064 837403 236603 244657192 209738279 24281196 10637717 826486 1410060 38873223 28575035 1693213 2536215 10858879 8474171 4509194 3571640 8743111 7626027 274925511 224608197 47714737 50317314 319850847 329865253 32429944 33871815 8042673 8245165 473542307 474492695 24439716 24369912 104063249 100015065 28905000 0 19065422 18741556 176473387 143126533 X 294220679 325592141 2848241 5774021 297068920 331366162 473542307 474492695 X 22577228 12456689 -736675 X 0 1 X 1 0 X 36061646 40666041 32905583 32092864 38838385 180564519 36061646 40666041 32905583 32092864 38838385 180564519 6698368 173866151 2100633 2675234 3583021 4206164 4913246 17478298 4771700 3417919 3083323 3116862 2649001 17038805 215081622 1078731274 0.80840 0.83260 X PART I, LINE 7 ACCORDING TO THE BUSINESS MASTER FILE, CONSUMER REPORTS, INC. IS EXEMPT WITH THE IRS UNDER SECTION 509(A)(2). HOWEVER, TO SUPPORT THE USE OF SPECIAL 2% RULE FOR REPORTING CONTRIBUTIONS ON SCHEDULE B, THE ORGANIZATION HAS FILLED OUT PART II. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 1 146269 1 27597 1 143443 0 1 81809 0 0 399118 0 PART II-B, LINE 1: LINE 1A - VOLUNTEERS TESTIFY BEFORE CONGRESS AND STATE LEGISLATURES; SPEAK AT PRESS CONFERENCES REGARDING STATE AND FEDERAL LEGISLATION; LOBBY LEGISLATORS. LINE 1B - PAID STAFF OR MANAGEMENT: PLEASE SEE BELOW ACTIVITIES, AS STAFF AND MANAGEMENT ARE INCLUDED IN THOSE ACTIVITIES AND TOTALS. LINE 1C - SOCIAL MEDIA PROMOTION RELATED TO FOOD, HEALTH, SAFETY AND SUSTAINABLE INITIATIVES. LINE 1D - MAILING TO MEMBERS, LEGISLATORS, OR THE PUBLIC: LETTERS AND EMAILS TO STATE OR FEDERAL LEGISLATORS AND STAFF REGARDING LEGISLATION; EMAIL ACTION ALERTS REGARDING STATE OR FEDERAL LEGISLATION TO OUR MEMBERS OR ACTIVISTS. LINE 1E - PUBLICATIONS, OR PUBLISHED OR BROADCAST STATEMENTS: LOBBYING MESSAGES REGARDING LEGISLATION THAT APPEAR IN CONSUMER REPORTS AND ITS OTHER PUBLICATIONS. LINE 1G - DIRECT CONTACT WITH LEGISLATORS, THEIR STAFFS, GOVERNMENT OFFICIALS, OR LEGISLATIVE BODY: FACE-TO-FACE MEETINGS OR TELEPHONE CALLS WITH STATE OR FEDERAL LEGISLATORS, INCLUDING TRAVEL TIME. 11935255 11935255 77566470 59080293 18486177 795261 795261 0 29257525 27159693 2097832 155371000 137572950 17798050 50317314 OTHER SECURITIES 33871815 C 33871815 CHARITABLE GIFT ANNUITY AND CRUT LIABILITY 8905778 457(B) LIABILITY 5933982 LIFETIME SUBSCRIBER LIABILITY 1181000 RIGHT OF USE LIABILITIES 1009131 OTHER LIABILITY 1711665 18741556 X 278507000 12456689 -736675 11720014 266786986 447434 447434 267234420 244210000 0 244210000 447434 -242 447192 244657192 PART X, LINE 2: FIN 48 UNCERTAINTY IN TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE CODE, CR IS EXEMPT FROM TAXES ON INCOME, EXCEPT FOR UNRELATED BUSINESS INCOME RELATED TO REFERRAL FEES DESCRIBED IN NOTE 2(A). FOR THE YEARS ENDED MAY 31, 2025 AND 2024, PROVISIONS FOR INCOME TAXES WERE $823,000 AND $927,000, RESPECTIVELY. IN ACCORDANCE WITH ASC TOPIC 740, INCOME TAXES, CR EVALUATED ITS TAX POSITIONS AND DETERMINED THAT ALL ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION. ACCORDINGLY, CR BELIEVES THAT THERE ARE NO UNRECOGNIZED BENEFITS OR APPLICABLE INTEREST AND PENALTIES THAT SHOULD BE RECORDED. AT MAY 31, 2025, CR'S TAX RETURNS FOR THE FISCAL YEARS ENDED MAY 31, 2024, 2023, AND 2022 ARE SUBJECT TO EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: PENSION RELATED CHARGES -435,675. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -301,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: ROUNDING TO AUDITED FINANCIAL STATEMENTS -242. EUROPE 0 0 PROGRAM SERVICES PUBLICATION INFO. 936570 NORTH AMERICA 0 0 PROGRAM SERVICES PUBLICATION INFO. 677428 0 0 0 0 0 0 1613998 0 1613998 0 0 0 0 0 0 PART I, LINE 3, COLUMN (F) THE ACCRUAL METHOD OF ACCOUNTING WAS USED IN PART I, LINE 3, COLUMN (F). X X X X 1 GIFT STRATEGIES LLC 1539 FALL RIVER AVENUE SEEKONK MA 02771 PLANNED GIV. & BEQUEST PROG. DEV. & LEADERSHIP CONS. 0 0 20250 -20250 FREEWILL CO PO BOX 501051 INDIANAPOLIS IN 46250 PLANNED GIVING SOFTWARE SUBSCRIPTION 0 0 37125 -37125 PARISE MARKETING GROUP INC 2487 ROUTE 55 SUITE E HOPEWELL JUNCTION NY 12533 STRATEGIC AND CREATIVE CONSULTING ON DIRECT MAIL FUNDRAISING 0 0 33977 -33977 EIDOLON COMMUNICATIONS 15 MAIDEN LANE SUITE 1401 NEW YORK NY 100385113 STRATEGIC AND CREATIVE CONSULTING ON DIRECT MAIL FUNDRAISING 0 0 16250 -16250 SAGE COMMUNICATIONS 28 JOHN H FINLEY III WAY SUITE 202 FRAMINGHAM MA 017014193 STRATEGIC AND CREATIVE CONSULTING ON DIRECT MAIL FUNDRAISING 0 0 19000 -19000 MYERBERG PHILANTHROPIC ADVISORS 179 SHORE ROAD OLD GREENWICH CT 06870 CREATION OF TRUST DOCUMENTS 0 0 9363 -9363 ZETA GLOBAL CORPORATION 3 PARK AVENUE 33RD FLOOR NEW YORK NY 10016 PLANNED GIVING PROGRAM DEVELOPMENT 0 0 5924 -5924 141889 -141889 AL AK AR CA CO CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN VA WA WV WI PART I, LINE 2B: CONSUMER REPORTS IS UNABLE TO ACCURATELY TRACE THE FUNDRAISING ACTIVITIES REPORTED TO FUNDS RECEIVED. THEREFORE, NO GROSS RECEIPTS FROM THESE ACTIVITIES HAVE BEEN REPORTED. 1 DUKE UNIVERSITY 324 BLACKWELL ST DURHAM NC 22701 560532129 501(C)(3) 10000 0 ARCHIVES PROJECT 1 0 CRITERIA FOR SELECTING PROJECTS FOR FUNDING THE CRITERIA FOR SELECTING PROJECTS FOR FUNDING INCLUDES THE FOLLOWING: -THE PROJECTS ARE CONSISTENT WITH CR'S MISSION TO PROVIDE INFORMATION AND ADVICE TO CONSUMERS ON GOODS, SERVICES, HEALTH AND PERSONAL FINANCE; AND TO INITIATE AND COOPERATE WITH INDIVIDUAL AND GROUP EFFORTS TO MAINTAIN AND ENHANCE THE QUALITY OF LIFE FOR CONSUMERS. -THE PROJECTS ARE HIGH IMPACT PROJECTS THAT PROVIDE A SIGNIFICANT RETURN FOR THE AMOUNT OF MONEY INVESTED. THEY ARE RESULT-ORIENTED, AND HAVE TANGIBLE GOALS AND OBJECTIVES. -IF POSSIBLE, THE PROJECTS ARE REPLICABLE, AND PROVIDE A MODEL FOR ORGANIZING AND ADVOCACY ON OTHER CONSUMER AND PUBLIC INTEREST ISSUES, OR IN OTHER LOCATIONS. -THE PROJECTS MUST MAKE SENSE IN THE CONTEXT OF THE NEEDS AND SUSTAINABILITY OPPORTUNITIES OF THE OVERALL CONSUMER MOVEMENT. -BECAUSE OUR FUNDS ARE LIMITED, OUR OPERATING STRATEGY IS TO IDENTIFY PROSPECTIVE GRANTEES AND INVITE THEM TO APPLY. MOST GRANTS ARE AWARDED TO PRE-SELECTED ORGANIZATIONS. MONITORING GRANT FUNDS GRANTEES ARE REQUIRED TO SUBMIT PROGRAM AND FINANCIAL REPORTS AT THE CONCLUSION OF THE PROJECT, INCLUDING A LIST OF GRANT-RELATED EXPENDITURES, AND A SUMMARY OF DELIVERABLES AND PROJECT RESULTS. THE TIMING OF THE REPORTS IS DETERMINED ACCORDING TO A SCHEDULE CONTAINED IN AN EXECUTED AGREEMENT BETWEEN CR AND THE GRANTEE. X X X X X 1 0 0 0 0 0 0 1 0 MARTA L TELLADO PRESIDENT & CEO (THRU 12/31/24) 825837 0 0 0 61207 0 34500 0 2932 0 924476 0 0 0 LAUREN STANICH SVP, CHIEF GROWTH OFFICER 476444 0 0 0 18600 0 31912 0 44835 0 571791 0 0 0 ERIC WAYNE SVP, CFO 464856 0 0 0 18484 0 34500 0 44986 0 562826 0 0 0 MICHAEL HUBNER VP, GENERAL COUNSEL 473542 0 0 0 16310 0 34500 0 2933 0 527285 0 0 0 JESSICA FREIREICH SVP, CHIEF STRATEGY OFFICER 361935 0 13041 0 41602 0 34500 0 43065 0 494143 0 0 0 ESTHER HAN VP, CHIEF VENTURES OFFICER 383655 0 3500 0 22446 0 31900 0 32635 0 474136 0 0 0 SHAREE MCKENZIE VP, CHIEF SOCIAL IMPACT OFC. (THRU 8 226067 0 0 0 180817 0 23082 0 3287 0 433253 0 0 0 YANA BULA VP, CHIEF EXPERIENCE OFFICER 378527 0 5000 0 1932 0 26443 0 16264 0 428166 0 0 0 HEATH GRAYSON CHIEF PRIVACY OFFICER & DEPUTY GENER 335022 0 16000 0 6458 0 33297 0 32052 0 422829 0 0 0 CORINNE OSBORN SR DIR LABOR & EMPL RELS 322190 0 20000 0 4909 0 34189 0 34160 0 415448 0 0 0 GENEA BELL VP, CHIEF PEOPLE OFFICER 365182 0 0 0 1950 0 33108 0 15006 0 415246 0 0 0 JENNIFER SHECTER VP, CHIEF CONTENT OFFICER 307781 0 6000 0 26507 0 32101 0 41564 0 413953 0 0 0 BENJAMIN MOSKOWITZ VP, INNOVATION LAB 334101 0 0 0 2449 0 33674 0 14966 0 385190 0 0 0 LILIAN KAYIZZI VP, TESTING, RESEARCH & INSIGHTS 333624 0 10000 0 3920 0 31795 0 5055 0 384394 0 0 0 RIPA RASHID CHIEF D&I OFC. (THRU 11/1/24) 237488 0 0 0 9535 0 6832 0 30051 0 283906 0 0 0 PART I, LINE 4A DURING THE YEAR, SHAREE MCKENZIE RECEIVED SEVERANCE PAYMENTS TOTALING $171,585. PART I, LINE 7 JESSICA FREIREICH, ESTHER HAN, HEATH GRAYSON, CORINNE OSBORN, JENNIFER SHECTER, YANA BULVA, AND LILIAN KAYIZZI RECEIVED DISCRETIONARY BONUS COMPENSATION IN CALENDAR YEAR 2024. THIS AMOUNT IS REPORTED IN SCHEDULE J, PART II, COLUMN B (III). X 15 41562 FAIR MARKET VALUE 0 1 0 SCHEDULE M, PART I, COLUMN (B): THE NUMBER 15 REPRESENTS THE NUMBER OF CONTRIBUTIONS OF PUBLICLY TRADED SECURITIES RECEIVED BY CONSUMER REPORTS, INC. IN FISCAL YEAR 2025. EACH CONTRIBUTION REPRESENTS EITHER ONE OR MULTIPLE SHARES OF PUBLICLY TRADED SECURITIES THAT WERE DONATED TO THE ORGANIZATION. THESE SECURITIES ARE SOLD FOR CASH PROMPTLY AFTER CR TAKES POSSESSION. FORM 990, PART III, LINE 4A: CONSUMER INFORMATION: CONSUMER REPORTS PUBLISHES AND DISSEMINATES INFORMATION AND ADVICE TO CONSUMERS REGARDING TOPICS SUCH AS CONSUMER GOODS, SERVICES, HEALTH AND PERSONAL FINANCE IN ORDER TO EFFECT ITS EDUCATIONAL PURPOSE. THE NUMBER OF PAID SUBSCRIBERS FOR EACH AS OF 5/31/25 INCLUDE CONSUMER REPORTS MAGAZINE 2,404,357; CONSUMER REPORTS ON HEALTH 268,244; AND CR ONLINE 2,775,294. CONSUMER REPORTS DOES NOT ACCEPT OUTSIDE ADVERTISING IN ANY OF ITS PUBLICATIONS. IN ADDITION, CONSUMER REPORTS DISSEMINATES CONSUMER INFORMATION THROUGH OTHER PRINT, RADIO, TELEVISION, ELECTRONIC PUBLISHING AND INTERACTIVE MEDIA. PRODUCT INFORMATION: CONSUMER REPORTS CONDUCTS INDEPENDENT AND IMPARTIAL TESTS AND ANALYSES ON A WIDE RANGE OF CONSUMER PRODUCTS AND SERVICES, SUCH AS ELECTRONICS, APPLIANCES, HOUSEHOLD PRODUCTS, INSURANCE, RECREATIONAL GOODS, AND CARS. THE TESTS AND SURVEYS EVALUATE HOW THE PRODUCTS AND SERVICES PERFORM AND EDUCATE CONSUMERS ON THE EXTENT TO WHICH THEY ARE CONVENIENT, SAFE, AND ECONOMICAL. DURING THE FISCAL YEAR ENDED 5/31/25, CONSUMER REPORTS CONDUCTED TESTS AND EVALUATIONS ON MORE THAN 2,362 MODELS OF VARIOUS CONSUMER PRODUCTS, MAKING USE OF ABOUT 63 LABORATORIES AND ITS AUTO TRACK. THE INFORMATION GATHERED AS RESULT OF THESE TESTS IS DISSEMINATED TO THE GENERAL PUBLIC AS DESCRIBED ABOVE. FORM 990, PART III, LINE 4B: CONSUMER REPORTS IS DEDICATED TO IMPROVING THE LIVES OF CONSUMERS AND CREATING A FAIR AND JUST MARKETPLACE FOR ALL OF US. WE ARE AN INDEPENDENT, NONPROFIT ORGANIZATION WITH FIVE MILLION MEMBERS ACROSS THE UNITED STATES. CR SEEKS TO EMPOWER PEOPLE WITH RELIABLE DATA TO MAKE INFORMED DECISIONS ABOUT THE PRODUCTS THEY BUY, AS WELL AS INFORMATION TO ADVOCATE FOR THEIR RIGHTS AS CONSUMERS. IN THE 89 YEARS SINCE CR WAS FOUNDED, WE HAVE BUILT A LEGACY OF TRUST AMONG CONSUMERS BY CONDUCTING EXPERT, RIGOROUS, SCIENCE-BASED TESTING OF PRODUCTS AND SERVICES, INCENTIVIZING CORPORATIONS TO PRIORITIZE SAFETY AND TRANSPARENCY, AND WORKING WITH POLICYMAKERS AND BUSINESS EXECUTIVES TO ADVANCE PRO-CONSUMER POLICIES. WE PROVIDE OUR TRUSTED INFORMATION THROUGH TESTING, RATINGS, AND REVIEWS; SURVEYS, REPORTS AND ANALYSES; AND INVESTIGATIVE AND SERVICE JOURNALISM - ALL OF WHICH IS DISSEMINATED THROUGH MULTIPLE DIGITAL AND PRINT PLATFORMS THAT REACH MORE THAN 15 MILLION PEOPLE EACH MONTH. THE PUBLIC CAN ACCESS SUBSTANTIAL FREE CONSUMER EDUCATION INFORMATION AS A PUBLIC SERVICE THROUGH CONSUMERREPORTS.ORG, CR SOCIAL MEDIA CHANNELS, CR WEBINARS, AND CR PARTNERSHIPS WITH LOCAL TV STATIONS. THESE COMBINED EFFORTS LEVERAGE CONSUMER DEMAND TO SHAPE A PRO-CONSUMER MARKETPLACE, AND WE ENGAGE DIRECTLY WITH INDUSTRY TO SET STANDARDS AND PROMOTE PRINCIPLES IN THE DESIGN AND DELIVERY OF PRODUCTS AND SERVICES. CONSUMER REPORTS' UNWAVERING DEDICATION TO THE HEALTH, SAFETY, AND WELL-BEING OF CONSUMERS IS EXEMPLIFIED BY OUR FY 25 (JUNE 1, 2024 THROUGH MAY 31, 2025) ACCOMPLISHMENTS AND MILESTONES, SOME OF WHICH INCLUDE: SAFER FOOD AND PRODUCTS: CR HELPS DRIVE NATIONAL ACTIONS TO REMOVE TOXINS AND UNSAFE ITEMS FROM THE MARKET - NATIONAL BAN ON RED DYE NO. 3: CR HELPED ACHIEVE A MAJOR PUBLIC HEALTH VICTORY WHEN THE FOOD AND DRUG ADMINISTRATION (FDA) BANNED RED DYE NO. 3 IN FOOD, DRINKS, AND INGESTED MEDICATIONS. THE DYE HAS BEEN LINKED TO CANCER, AS WELL AS NEUROBEHAVIORAL PROBLEMS IN CHILDREN, DESPITE THE FACT THAT SAFER ALTERNATIVES ARE READILY AVAILABLE AND USED IN OTHER COUNTRIES. CR PUSHED FOR THIS BAN FOR YEARS, MOBILIZING PUBLIC SUPPORT, TESTIFYING BEFORE GOVERNMENT OFFICIALS, AND DELIVERING A PETITION SIGNED BY 80,000 CONSUMERS. IN 2023 CR CO-SPONSORED A CALIFORNIA LAW BANNING THE DYE IN FOODS, WHICH HELPED GENERATE MOMENTUM FOR THIS HISTORIC NATIONAL ACTION IN 2025. - IMPROVING SCHOOL MEAL SAFETY: CR CO-SPONSORED A NEW CALIFORNIA LAW BANNING SIX SYNTHETIC DYES FROM SCHOOL MEALS DUE TO THEIR LINKS TO LEARNING AND BEHAVIOR PROBLEMS. ADDITIONALLY, AFTER CR'S TESTS FOUND CONCERNING LEVELS OF SODIUM, LEAD, AND CADMIUM IN SOME LUNCHABLES MEAL KITS, CR ORGANIZED PEOPLE ACROSS THE COUNTRY TO TELL THE FEDERAL GOVERNMENT TO PULL LUNCHABLES FROM THE NATIONAL SCHOOL LUNCH PROGRAM, AND THE MANUFACTURER EVENTUALLY REMOVED THEM. - INFANT AND CHILD PRODUCT SAFETY STANDARDS: A NEW MANDATORY SAFETY STANDARD FOR INFANT SUPPORT CUSHIONS, INCLUDING BABY LOUNGERS, TOOK EFFECT IN MAY 2025. THE RULE WAS CHAMPIONED BY CR TO REDUCE THE RISK OF SUFFOCATION, ENTRAPMENT, AND FALLS. THE STANDARD REQUIRES BETTER DESIGN, RIGOROUS TESTING, AND CLEARER WARNING LABELS. - REMOVING UNSAFE PRODUCTS FROM ONLINE SHELVES: CR SPOT-CHECKED 21 BIKE HELMETS FOR SALE ONLINE AND FLAGGED EIGHT THAT LACKED THE REQUIRED SAFETY COMPLIANCE STICKER. WHEN CONTACTED, SHEIN, TEMU, AND WALMART TOOK DOWN THE LISTINGS FOR THESE NONCOMPLIANT HELMETS, MITIGATING CONSUMER RISK. A SAFER DIGITAL MARKETPLACE: CR ADVANCES PROTECTIONS AGAINST AI MISUSE AND DATA HARMS - COMBATING A BAN ON STATE AI LAWS: WHEN CONGRESS PROPOSED A 10-YEAR BAN ON STATE AI LAWS, CR TESTIFIED AT A SENATE HEARING, WARNING THAT SUCH A MOVE WOULD LEAVE CONSUMERS VULNERABLE. CR MOBILIZED MEMBERS TO SEND OVER 80,000 EMAILS TO THEIR SENATORS. THE SENATE OVERWHELMINGLY REJECTED THE PROPOSAL IN A 99-TO-1 VOTE IN A VICTORY FOR CONSUMER PROTECTION. - INVESTIGATING AI HARMS: A CR INVESTIGATION OF SIX WIDELY USED AI VOICE-CLONING TOOLS FOUND THAT FOUR LACKED MEANINGFUL SAFEGUARDS, CREATING A CLEAR PATH FOR IMPERSONATION SCAMS. CR IS USING THESE FINDINGS TO ADVOCATE FOR STRONGER PROTECTIONS AND TOUGHER ENFORCEMENT TO PREVENT AI MISUSE. - ADVOCATING FOR ALGORITHMIC TRANSPARENCY: CR IS WORKING IN SEVERAL STATES ON LEGISLATION TO ADDRESS THE USE OF AI FOR BIG DECISIONS IN CONSUMERS' DAILY LIVES, SUCH AS LOANS, HOUSING, INSURANCE, AND HEALTHCARE, ADVOCATING FOR REFORMS AND TRANSPARENCY TO ENSURE HIDDEN ALGORITHMS DO NOT REJECT QUALIFIED PEOPLE DUE TO INCORRECT OR BIASED INFORMATION. FINANCIAL SECURITY AND MARKET TRANSPARENCY: CR EXPOSES HIDDEN FEES AND OVERCHARGES - JUNK FEES: CR GATHERED THOUSANDS OF STORIES FROM CONSUMERS WHO HAVE BEEN STUNG BY SURPRISE FEES. THESE FEES CAN CONCEAL THE TRUE PRICE OF AN ITEM, MAKE IT DIFFICULT TO COMPARISON-SHOP, AND CHIP AWAY AT FAMILY BUDGETS. WE SHARED THESE STORIES, PLUS OUR NATIONALLY REPRESENTATIVE SURVEYS, WITH THE FEDERAL TRADE COMMISSION. A NEW FTC RULE BACKED BY CR AIMS TO ELIMINATE HIDDEN AND UNFAIR FEES IN LIVE EVENT TICKETS AND SHORT-TERM LODGING. THE RULE REQUIRES BUSINESSES TO DISCLOSE THE TOTAL PRICE UP FRONT. IT IS ESTIMATED TO SAVE CONSUMERS 53 MILLION HOURS OF TIME EACH YEAR IN SEARCHING FOR TICKETS AND LODGING. - MAKE THE PRICE RIGHT CAMPAIGN: CR CONDUCTED TWO MAJOR INVESTIGATIONS INTO THE GROCERY GIANT KROGER. THE FIRST FOUND OVERCHARGES CAUSED BY EXPIRED SALE TAGS, AND KROGER ANNOUNCED THE HIRING OF AN ADDITIONAL 15,000 EMPLOYEES TO IMPROVE SERVICE THE FOLLOWING DAY. THE SECOND INVESTIGATION UNCOVERED HOW KROGER WAS BUILDING DETAILED LOYALTY PROFILES ON CUSTOMERS AND USING THAT DATA TO PERSONALIZE PRICING AND PROMOTIONS, SO ONE CONSUMER MIGHT BE PAYING MORE THAN THEIR NEIGHBORS FOR THE SAME ITEMS. - MARKETPLACE ACCOUNTABILITY: CR PUBLISHED A NEW REPORT CALLING FOR STRONGER CONSUMER PROTECTIONS TO HOLD ONLINE MARKETPLACES ACCOUNTABLE FOR UNSAFE PRODUCTS SOLD BY THIRD-PARTY SELLERS. WE URGED PLATFORMS TO REMOVE RECALLED ITEMS AND QUICKLY NOTIFY CUSTOMERS OF PRODUCT RECALLS. VEHICLE SAFETY AND CLEANER CARS: CR DRIVES ACCOUNTABILITY FOR AUTOMAKERS - CAR SAFETY RATINGS: CR PRAISED THE NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION (NHTSA) FOR MAKING CRITICAL UPDATES TO THE FIVE-STAR SAFETY RATINGS FOR NEW CARS. CR PROVIDED EXTENSIVE COMMENTS AND ADVICE TO THE GOVERNMENT TO INCORPORATE ADVANCED CRASH AVOIDANCE AND CRASHWORTHINESS MEASURES, CALLING IT "THE BIGGEST STEP FORWARD FOR THE FIVE-STAR SAFETY RATINGS SINCE THE PROGRAM WAS CREATED." - ENHANCED SEAT BELT WARNINGS: CR'S EXPERTS HELPED CRAFT AND ADVANCE A NEW FEDERAL RULE REQUIRING SEAT BELT USE WARNINGS FOR REAR SEATS AND ENHANCED WARNINGS FOR DRIVER AND FRONT PASSENGER SEATS, HELPING TO REDUCE CRASH-RELATED INJURIES AND FATALITIES. - CLEAN CAR INNOVATION: CR WAS HONORED BY FAST COMPANY AS ONE OF THE WORLD'S MOST INNOVATIVE COMPANIES OF 2025 FOR OUR WORK HELPING CONSUMERS SHOP FOR CLEANER CARS. CR'S ONLINE CONTENT ON HYBRIDS AND ELECTRIC VEHICLES (EV) SAW 13.5 MILLION VISITS SINCE DECEMBER 2022. THIS RECOGNITION HIGHLIGHTED CR'S DEVELOPMENT OF NEW EV TESTING METHODS, INCLUDING HIGHWAY-SPEED RANGE TESTS, AND OUR EV CHARGING COMMUNITY INITIATIVE TO IMPROVE THE CHARGING EXPERIENCE THROUGH REAL-TIME USER FEEDBACK. HEALTH AND BEAUTY PRODUCT SAFETY: CR REVEALS TOXIC CHEMICALS IN PERSONAL CARE - SYNTHETIC BRAIDING HAIR: CR'S TESTING OF SYNTHETIC BRAIDING HAIR FOUND THAT 100% OF THE SAMPLES HAD TOXIC CHEMICALS LINKED TO CANCER. CR HELPED CRAFT LEGISLATION IN CONGRESS TO DIRECT THE FDA TO REGULATE THESE PRODUCTS, AND IS WORKING TO ADVANCE A BILL IN NEW YORK STATE TO BAN THE SALE OF COSMETICS AND PERSONAL CARE PRODUCTS CONTAINING A VARIETY OF HARMFUL SUBSTANCES, SUCH AS HEAVY METALS, PFAS, AND PHTHALATES. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS, STOCKHOLDERS CONSUMER REPORTS IS A NEW YORK STATE NOT-FOR-PROFIT MEMBERSHIP CORPORATION. THE MEMBERS FOR NEW YORK NOT-FOR-PROFIT LAW PURPOSES ARE ANY INDIVIDUAL WITH A PAID MEMBERSHIP TO THE CONSUMER REPORTS MEMBERSHIP PROGRAM. MEMBERS CAN ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING OF MEMBERS; ADOPT, AMEND OR REPEAL THE BY-LAWS OF THE CORPORATION; CALL A SPECIAL MEETING OF THE MEMBERS UNDER CERTAIN CIRCUMSTANCES; AND EXERCISE SUCH OTHER POWERS AS ARE PROVIDED BY LAW. FORM 990, PART VI, SECTION A, LINE 7A SEE EXPLANATION ON LINE 6 ABOVE. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE 990 IS PREPARED UTILIZING THE ASSISTANCE OF AN INDEPENDENT ACCOUNTING FIRM, KPMG. THE RELATED SERVICES FROM KPMG ARE APPROVED BY THE AUDIT COMMITTEE AS PART OF THE AUDIT APPROVAL PROCESS. AFTER THE 990 IS PREPARED BY CR FINANCE DEPARTMENT WITH COORDINATION WITH KPMG, IT IS REVIEWED BY THE CONTROLLER AND CFO BEFORE IT IS REVIEWED AND APPROVED BY THE AUDIT COMMITTEE. A COPY OF THE 990 IS THEN PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST COMPLIANCE PROCESS CONSUMER REPORTS' BOARD OF DIRECTORS AND STAFF MEMBERS ARE REQUIRED TO FILL OUT AND SIGN A DISCLOSURE OF INTEREST STATEMENT AND ATTESTATION OF COMPLIANCE EACH YEAR. BOARD MEMBERS' FORMS ARE REVIEWED BY A COMMITTEE OF THE BOARD; STAFF MEMBERS' FORMS ARE REVIEWED BY AN OUTSIDE INDEPENDENT REVIEWER. ANY CONFLICTS WILL BE ADDRESSED WITH THE APPLICABLE BOARD OR STAFF MEMBER, WITH UNRESOLVED CONFLICTS ADDRESSED BY THE APPROPRIATE CONFLICT OF INTEREST COMMITTEE. POTENTIAL REMEDIES FOR CONFLICTS OF INTEREST CAN INCLUDE RECUSAL FROM PARTICIPATION IN THE MATTER GIVING RISE TO THE CONFLICT, DISPOSING OF AN INVESTMENT, TERMINATION OF EMPLOYMENT, OR RESIGNATION. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE COMPENSATION PROVIDED TO CR'S PRESIDENT AND SENIOR EXECUTIVE STAFF TO ENSURE THAT THEY ARE CONSISTENT WITH CR'S MISSION, ARE DESIGNED TO ATTRACT AND RETAIN THE HIGH LEVELS OF LEADERSHIP TALENT NEEDED TO ACHIEVE CR'S OPERATING PLANS, AND ARE COMPLIANT WITH LAW. TO THAT END, THE EXECUTIVE COMMITTEE (1) RECOMMENDS TO THE BOARD OF DIRECTORS COMPENSATION PLANS AND PAY LEVELS FOR THE PRESIDENT AND CHIEF EXECUTIVE OFFICER, TAKING INTO ACCOUNT PEER GROUP PRACTICES AND ANY SPECIAL CONSIDERATIONS, AS WELL AS EMPLOYMENT AGREEMENTS; (2) REVIEWS THE COMPENSATION OF THE PRESIDENT AND SENIOR EXECUTIVE STAFF TO ENSURE COMPLIANCE WITH THE IRS INTERMEDIATE SANCTION REQUIREMENTS; AND (3) REVIEWS AND APPROVES (A) FOR EXECUTIVES REPORTING DIRECTLY TO THE PRESIDENT, ANY PROPOSED COMPENSATION INCREASE FOR CURRENT EXECUTIVES AND THE PROPOSED COMPENSATION FOR ANY NEW HIRE AND (B) FOR EXECUTIVES NOT REPORTING DIRECTLY TO THE PRESIDENT, (I) ANY PROPOSED COMPENSATION INCREASE THAT EXCEEDS THE ANNUAL SALARY INCREASE GUIDELINES ESTABLISHED BY PEOPLE AND CULTURE AND (II) THE PROPOSED COMPENSATION FOR ANY NEW EXECUTIVE HIRE THAT EXCEEDS THE MARKET MEDIAN AS REPORTED IN EXECUTIVE COMPENSATION STUDIES CONDUCTED BY A THIRD PARTY EXECUTIVE COMPENSATION CONSULTING FIRM. THE EXECUTIVE COMMITTEE'S RECOMMENDATION ON THE PRESIDENT'S COMPENSATION PLANS AND PAY LEVELS IS VOTED ON BY THE FULL BOARD OF DIRECTORS. DELIBERATIONS AND DECISIONS REGARDING THE FOREGOING COMPENSATION ARRANGEMENTS ARE CONTEMPORANEOUSLY RECORDED IN THE ORGANIZATION'S MINUTES. TO ENSURE COMPLIANCE WITH THE IRS INTERMEDIATE SANCTIONS AS REQUIRED AND MEET THE CONDITIONS FOR THE REBUTTABLE PRESUMPTION UNDER TREASURY REGULATION 53.4958-6, THE COMMITTEE THAT DETERMINES COMPENSATION OF EXECUTIVES ARE COMPOSED OF MEMBERS WHO ARE INDEPENDENT WITH RESPECT TO THE COMPENSATION ARRANGEMENTS. THE FOREGOING PROCESS FOR ESTABLISHING COMPENSATION FOR THE INDICATED PERSONS WAS LAST UNDERTAKEN IN JULY 2024. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC AVAILABILITY OF FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS CONSUMER REPORTS' ANNUAL FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC ON ITS WEBSITE, WWW.CONSUMERREPORTS.ORG. OUR GOVERNING DOCUMENTS, FORM 1023, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: PENSION RELATED CHANGES -435,675. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -301,000. CHARITABLE REMAINDER TRUST (2) ANNUITY NY N/A T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0