2011-11-04T07:55:59-05:00 2010-12-31 RSM MCGLADREY INC 8000 TOWERS CRESCENT DR STE 500 VIENNA VA 221826205 990 2010-01-01 520887806 INTERNATIONAL ECONOMIC DEVELOPMENT COUNCIL INTE 2022234735 734 15TH STREET NW NO 900 WASHINGTON DC 20005 JEFFREY A FINKLE 2022234735 2011-11-02 1 JAMES P SWEENEY CPA 7033366400 2010 2016-03-07 17:11:31Z JEFFREY A FINKLE 734 15TH STREET NW NO 900 WASHINGTON DC 20005 6087555 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 65 496671 -10243 2581 1089258 4631970 4387906 11717 9705 626107 0 5272375 5486869 0 0 0 0 2860664 2873890 0 0 0 2025455 2265474 4886119 5139364 386256 347505 3655763 4085100 1597678 1679510 2058085 2405590 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 2714635 4387906 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. 2714635 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 26 0 1 46 1 1 1 0 0 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 MR SCOTT D ADAMS CECD 5.00 X 0 0 0 MR WILLIAM ALLEN 5.00 X 0 0 0 MR CHARLES S ALVEY CECD 5.00 X 0 0 0 MS RITA ATHAS 5.00 X 0 0 0 MR IVAN BAKER CECD 5.00 X 0 0 0 MR IVAN BAKER CECD 5.00 X 0 0 0 MR HOWARD C BENSON 5.00 X 0 0 0 MR DAVID BERZINA CECD 5.00 X 0 0 0 MS DYAN LINGLE BRASINGTON CECD FM 5.00 X 0 0 0 MR TIM CHASE CECD FM 5.00 X 0 0 0 MS TEDRA CHEATHAM CECD 5.00 X 0 0 0 MS JOANN CRARY CECD 5.00 X 0 0 0 MR J VANN CUNNINGHAM 5.00 X 0 0 0 MR KENNETH E DOBSON FM 5.00 X 0 0 0 MR MAURICE D EWING CECD 5.00 X 0 0 0 MR NEIL EVERSON ECD 5.00 X 0 0 0 MR JACQUES EVRARD 5.00 X 0 0 0 MR ROBERT FINE 5.00 X 0 0 0 MS KRISTEN FISH CECD 5.00 X 0 0 0 MR THOMAS M FLYNN CECD 5.00 X 0 0 0 MR RAYMOND GILLEY 5.00 X 0 0 0 GERALD L GORDON PHD FM HLM 5.00 X 0 0 0 MR TODD GREENE CECD 5.00 X 0 0 0 MR DANIEL C GUNDERSEN 5.00 X 0 0 0 MR DON A HOLBROOK CECD FM 5.00 X 0 0 0 MR DONALD E JAKEWAY 5.00 X 0 0 0 MS BARBARA K JOHNSON 5.00 X 0 0 0 MR JAMES R KINNETT II CECD FM 5.00 X 0 0 0 MR THOMAS A KUCHARSKI CECD 5.00 X 0 0 0 MR ANDREW T LEVINE 5.00 X 0 0 0 MS GAIL LEWIS 5.00 X 0 0 0 MS DIANE C LUPKE CECD FM 5.00 X 0 0 0 MS JUDY MCKINNEY-CHERRY CECD 5.00 X 0 0 0 MS JANET M MILLER CECD FM 5.00 X 0 0 0 MR FRED MORLEY 5.00 X 0 0 0 MR PHILLIP D PHILLIPS PHD CECD 5.00 X 0 0 0 MS JOY M POOLER CECD FM 5.00 X 0 0 0 MR CRAIG J RICHARD CECD 5.00 X 0 0 0 MR WAYNE SCHELL FM 5.00 X 0 0 0 MR MIKE SCHWENK 5.00 X 0 0 0 MR WALTER C SPROUSE JR CECD CCE 5.00 X 0 0 0 MR KLAUS THIESSEN 5.00 X 0 0 0 MS ALLISON JH THOMPSON CECD EDFP 5.00 X 0 0 0 MR ANATALIO UBALDE FM 5.00 X 0 0 0 MR STEVE WEATHERS CECD 5.00 X 0 0 0 MS HOLLY WIEDMAN 5.00 X 0 0 0 MS JOY S WILKINS CECD 5.00 X 0 0 0 MR ROY H WILLIAMS 5.00 X 0 0 0 JEFFREY A FINKLE 40.00 X 264726 0 70482 SHARON COY 40.00 X 113249 0 8287 JILL FRICK ESTAVILLO 40.00 X 114654 0 27502 492629 0 106271 3 0 1 0 THE CHOICE INC PO BOX 62408 BALTIMORE MD 21264 TEMPORARY STAFFING AGENCY 168431 AMERICAN EXPRESS PO BOX 1270 NEWARK NJ 07101 CORPORATE CREDIT CARD 165741 2 1089258 1089258 CONFERENCE 900099 2081064 2081064 ADVISORY SERVICES AND 900099 1119828 1119828 EDUCATION/CERTIFICATIO 900099 690343 690343 GRANT ADMINISTRATION 561000 403534 403534 EMPLOYMENT SERVICES 561300 93137 93137 4387906 9705 9705 600686 600686 0 0 5486869 3891235 496671 9705 472168 291124 181044 1753923 1081414 672509 92773 57201 35572 372772 229839 142933 182254 112372 69882 58858 58858 682271 556549 125722 3838 3838 540392 303761 236631 53641 240 53401 288894 33201 255693 125746 78821 46925 439351 399912 39439 16976 16976 8476 8476 DUES & SUBSCRIPTIONS 26636 15693 10943 OTHER EXPENSES 25839 9731 16108 OVERHEAD ALLOCATION 0 -455223 455223 BAD DEBT EXPENSE -5444 -5444 5139364 2714635 2424729 0 665683 774343 294746 469852 499536 560832 12296 9363 181164 168212 699510 677444 18127 22066 1882846 2065794 101365 14638 3655763 4085100 454256 379474 1056695 1182309 86727 117727 1597678 1679510 X 1883267 2243059 174818 162531 2058085 2405590 3655763 4085100 347505 0 X X 0 1 1 X 0 X 530345 1174657 1192321 1730939 1089258 5717520 530345 1174657 1192321 1730939 1089258 5717520 5717520 177286 36061 25441 11717 9705 260210 5977730 14883590 0.95650 0.97080 X 699510 677444 22066 22066 OBLIGATION UNDER NONQUALIFIED EMPLOYEE BENEFIT PLAN 117727 117727 5486869 5139364 347505 0 347505 5486869 0 5486869 0 5486869 5139364 0 5139364 0 5139364 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 2007. X 1 1 X X X X 0 1 0 0 0 0 0 0 0 JEFFREY A FINKLE 231635 0 33091 0 0 0 70482 0 8750 0 343958 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 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST OF THE ORGANIZATION'S SENIOR DIRECTOR OF FINANCE & ADMINISTRATION. 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.