2025-03-14T16:04:09-05:00 2024-05-31 135565207 KPMG LLP 345 PARK AVENUE NEW YORK NY 101540102 990 2023-06-01 131776434 CONSUMER REPORTS INC CONS 9143782000 101 TRUMAN AVENUE YONKERS NY 107031044 ERIC WAYNE SR. VP AND CFO 9143782000 2025-03-12 1 0 EVAN W SEEKAMP P01907071 2127589700 2025-03-12 2023 2025-03-06 01:10:19Z MARTA L TELLADO 101 TRUMAN AVENUE YONKERS NY 107031044 308825874 0 X WWW.CONSUMERREPORTS.ORG X 1936 NY WE ARE AN INDEPENDENT, NONPROFIT ORGANIZATION THAT WORKS SIDE BY SIDE WITH CONSUMERS. SEE SCHEDULE O.WE ARE AN INDEPENDENT, NONPROFIT ORGANIZATION THAT WORKS SIDE BY SIDE WITH CONSUMERS FOR TRUTH, TRANSPARENCY, AND FAIRNESS IN THE MARKETPLACE. 17 16 657 0 10904972 3116862 32905583 32092864 213019967 209381249 3239803 24183632 510602 485360 249675955 266143105 29000 10000 0 0 110838046 120002560 205752 154822 10793336 142866776 144255812 253939574 264423194 -4263619 1719911 462111873 473542307 182171946 176473387 279939927 297068920 X WE ARE AN INDEPENDENT, NONPROFIT ORGANIZATION THAT WORKS SIDE BY SIDE WITH CONSUMERS FOR TRUTH, TRANSPARENCY, AND FAIRNESS IN THE MARKETPLACE. 0 0 205802782 10000 209381249 CONSUMER INFORMATION, PRODUCT INFORMATION: SEE SCHEDULE O FORADDITIONAL INFORMATION. 16231466 EDUCATION PROGRAMS, HEALTH INFORMATION AND SAFETY: SEESCHEDULE O FOR ADDITIONAL INFORMATION. 222034248 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 0 0 1 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 193 0 1 657 1 1 1 1 CA 0 0 0 1 1 0 0 0 0 0 0 X 17 16 0 0 0 0 1 1 0 1 1 0 1 1 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 MARTA L TELLADO PRESIDENT & CEO 45.00 0.00 X X 930195 0 36022 ELLEN TAUS CHAIR 2.00 0.00 X 0 0 0 RUSSELL G NOLES VICE CHAIR 2.00 0.00 X 0 0 0 JOAQUIN ALVARADO DIRECTOR 2.00 0.00 X 0 0 0 NIKITRA BAILEY DIRECTOR (THRU 5/31/24) 2.00 0.00 X 0 0 0 MILLIE CHU BAIRD DIRECTOR 2.00 0.00 X 0 0 0 DEBORAH A COWAN DIRECTOR 2.00 0.00 X 0 0 0 KATHLEEN ENGEL DIRECTOR (THRU 7/3/23) 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 2.00 0.00 X 0 0 0 IVAN ROSALES DIRECTOR (AS OF 10/18/23) 2.00 0.00 X 0 0 0 BETSY D SCOLNIK DIRECTOR (THRU 10/18/23) 2.00 0.00 X 0 0 0 SONAL SHAH 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 (AS OF 10/18/23) 2.00 0.00 X 0 0 0 ERIC WAYNE SR. VP & CFO 45.00 0.00 X 482702 0 76794 MICHAEL HUBNER VP, GENERAL COUNSEL 45.00 0.00 X 483781 0 35932 LAUREN STANICH SVP, CHIEF GROWTH OFFICER 45.00 0.00 X 478807 0 73317 JESSICA FREIREICH SVP, CHIEF STRATEGY OFFICE 45.00 0.00 X 434922 0 73744 ESTHER HAN VP CHIEF VENTURES OFFICER 45.00 0.00 X 404677 0 60916 GENEA BELL VP, CHIEF PEOPLE OFFICER 45.00 0.00 X 358936 0 46021 SHAREE MCKENZIE VP CHIEF SOCIAL IMPACT OFFICER 45.00 0.00 X 361550 0 36764 HEATH GRAYSON CHIEF PRIVACY OFFICER & DE 45.00 0.00 X 341000 0 64270 PETER DIRENZO CHIEF TECHNOLOGY OFFICER 45.00 0.00 X 339646 0 73637 CORINNE OSBORN SR DIR LABOR & EMPL RELS 45.00 0.00 X 329285 0 65293 BENJAMIN MOSKOWITZ VP, INNOVATION LAB 45.00 0.00 X 331974 0 32502 JENNIFER SHECTER VP CHIEF CONTENT OFFICER 45.00 0.00 X 326880 0 31068 LIAM MCCORMACK VP, RESEARCH, TESTING & IN 0.00 0.00 X 116000 0 0 5720355 0 706280 448 1 1 0 GOOGLE INC 1600 AMPHITHEATRE PARKWAY MOUNTAIN VIEW CA 94043 SEARCH ENGINE MARKETING 15503154 META PLATFORMS INC (FACEBOOK) 1601 WILLOW RD MENLO PARK CA 94025 MARKETING 6218412 DIAMOND COMMUNICATIONS 1209 31ST AVENUE COUNCIL BLUFFS IA 51501 FULFILLMENT SERVICES 4805625 QUAD GRAPHICS N61 W23044 HARRYS WAY SUSSEX WI 53089 PRINTING 4731434 ACXIOM CORPORATION 601 E THIRD STREET LITTLE ROCK AR 72201 INFORMATION TECHNOLOGY SERVICE 2936070 109 569619 31523245 89235 32092864 ONLINE SUBSCRIP. SALES 900099 120831080 109926108 10904972 SUBSCRIP., NEWSSTAND 513110 84318669 84318669 DATA INTELLIGENCE 519190 4170954 4170954 TESTING REVENUE 541380 60546 60546 209381249 3720804 3720804 485360 485360 63145597 42682769 20462828 20462828 20462828 266143105 198476277 10904972 24668992 10000 10000 4102911 1849493 2253418 86573824 69287470 15353233 1933121 8551341 6930784 1423453 197104 14134214 11329953 2484675 319586 6640270 5314395 1177603 148272 269700 256341 13359 428875 428875 154822 154822 470642 470642 14418570 12931110 1467324 20136 32021204 31572904 40930 407370 528783 443948 80846 3989 7989204 6378580 1545858 64766 3217503 2486134 724799 6570 906535 787224 116398 2913 299101 238718 59725 658 14595 14595 17161403 16676339 456317 28747 1432052 1432052 POSTAGE AND SHIPPING 23004120 19391435 4430 3608255 PRINTING & PUBLICATION 13548071 11351989 706 2195376 ORDER PROCESSING 11984215 10454412 28877 1500926 PRODUCT TESTING 4231761 4231761 12329478 10367599 1774513 187366 264423194 222034248 31595610 10793336 1036601 826486 17391744 38873223 2499378 1693213 6850437 10858879 4607972 4509194 8323739 8743111 259514751 211800014 53426063 47714737 361329959 352280791 6645980 8042673 462111873 473542307 23580399 24439716 104736696 104063249 30615000 28905000 23239851 19065422 182171946 176473387 X 272554032 294220679 7385895 2848241 279939927 297068920 462111873 473542307 X 1719911 19831116 -4422034 X 0 1 X 1 0 X 31958978 36061646 40666041 32905583 32092864 173685112 31958978 36061646 40666041 32905583 32092864 173685112 1872883 171812229 2426959 2100633 2675234 3583021 4206164 14992011 3287901 4771700 3417919 3083323 3117862 17678705 206355828 1052197993 0.83260 0.81660 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 0 1 43189 1 181869 0 1 71112 1 4464 0 300634 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 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. LINE 1H - RALLIES, DEMONSTRATIONS, SEMINARS, CONVENTIONS, SPEECHES,LECTURES, OR ANY SIMILAR MEANS: SPEECHES; RALLIES; CONFERENCES WHERE CR STAFF SUPPORTS OR OPPOSES STATE OR FEDERAL LEGISLATION PUBLICLY. 11935255 11935255 75166598 56690093 18476505 795261 795261 0 28344822 26108465 2236357 143272815 128206195 15066620 47714737 CHARITABLE GIFT ANNUITY AND CRUT LIABILITY 8982410 457(B) LIABILITY 5606696 LIFETIME SUBSCRIBER LIABILITY 1347000 RIGHT OF USE LIABILITIES 939000 OTHER LIABILITY 2190316 19065422 X 281196000 19831116 -4422027 15409089 265786911 356194 356194 266143105 264067000 0 264067000 356194 356194 264423194 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, 2024 AND 2023, PROVISIONS FOR INCOME TAXES WERE $907 AND $999, 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. CR'S TAX RETURNS FOR THE FISCAL YEARS ENDED MAY 31, 2023, 2022, AND 2021 ARE SUBJECT TO EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: PENSION RELATED CHARGES -5,127,394. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -207,072. UNREALIZED GAIN ON INTEREST RATE SWAP 912,439. EUROPE 0 0 PROGRAM SERVICES PUBLICATION INFO. 983475 NORTH AMERICA 0 0 PROGRAM SERVICES PUBLICATION INFO. 686451 0 0 0 0 0 0 1669926 0 1669926 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 AVE SEEKONK MA 02771 PLANNED GIVING & BEQUEST PROG. DEV. AND LEADERSHIP CONS. 0 0 24250 -24250 FREEWILL CO PO BOX 501051 INDIANAPOLIS IN 46250 PLANNED GIVING SOFTWARE SUBSCRIPTION 0 0 61875 -61875 PARISE MARKETING GROUP INC 2487 ROUTE 55 SUITE E HOPEWELL JUNCTION NY 12533 STRATEGIC AND CREATIVE CONSULTING ON DIRECT MAIL FUNDRAISING 0 0 44697 -44697 EIDOLON COMMUNICATIONS 15 MAIDEN LN STE 1401 NEW YORK NY 100385113 STRATEGIC AND CREATIVE CONSULTING ON DIRECT MAIL FUNDRAISING 0 0 24000 -24000 154822 -154822 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 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 801784 0 75000 0 53411 0 33000 0 3022 0 966217 0 0 0 ERIC WAYNE SR. VP & CFO 450385 0 14000 0 18317 0 33000 0 43794 0 559496 0 0 0 LAUREN STANICH SVP, CHIEF GROWTH OFFICER 449820 0 12000 0 16987 0 31073 0 42244 0 552124 0 0 0 MICHAEL HUBNER VP, GENERAL COUNSEL 458784 0 10000 0 14997 0 33000 0 2932 0 519713 0 0 0 JESSICA FREIREICH SVP, CHIEF STRATEGY OFFICE 419981 0 12000 0 2941 0 33000 0 40744 0 508666 0 0 0 ESTHER HAN VP CHIEF VENTURES OFFICER 373918 0 10000 0 20759 0 31030 0 29886 0 465593 0 0 0 PETER DIRENZO CHIEF TECHNOLOGY OFFICER 330762 0 4000 0 4884 0 33000 0 40637 0 413283 0 0 0 HEATH GRAYSON CHIEF PRIVACY OFFICER & DE 329640 0 4500 0 6860 0 33000 0 31270 0 405270 0 0 0 GENEA BELL VP, CHIEF PEOPLE OFFICER 346936 0 12000 0 0 0 32413 0 13608 0 404957 0 0 0 SHAREE MCKENZIE VP CHIEF SOCIAL IMPACT OFFICER 347150 0 10000 0 4400 0 31725 0 5039 0 398314 0 0 0 CORINNE OSBORN SR DIR LABOR & EMPL RELS 317673 0 5500 0 6112 0 32835 0 32458 0 394578 0 0 0 JENNIFER SHECTER VP CHIEF CONTENT OFFICER 316968 0 4000 0 5912 0 40316 0 0 0 367196 0 0 0 BENJAMIN MOSKOWITZ VP, INNOVATION LAB 323678 0 6000 0 2296 0 14590 0 0 0 346564 0 0 0 LIAM MCCORMACK VP, RESEARCH, TESTING & IN 116000 0 0 0 0 0 0 0 0 0 116000 0 0 0 PART I, LINE 4A DURING THE YEAR, LIAM MCCORMACK RECEIVED SEVERANCE PAYMENTS TOTALING $116,000. PART I, LINE 7 MARTA TELLADO, ERIC WAYNE, MICHAEL HUBNER, LAUREN STANICH, JESSICA FREIREICH, ESTHER HAN, HEATH GRAYSON, GENEA BELL, PETER DIRENZO, CORINNE OSBORN, SHAREE MCKENZIE, JENNIFER SHECTER, AND BENJAMIN MOSKOWITZ RECEIVED DISCRETIONARY BONUS COMPENSATION IN CALENDAR YEAR 2023. THIS AMOUNT IS REPORTED IN SCHEDULE J, PART II, COLUMN B (III). A CYIDA MULTI-MOD CIV FAC REV BONDS S 2005 521294255 986083BN2 2005-12-22 47300000 REFINANCE & RENOS OR HQ FACILITY 0 0 0 A 18300000 47300000 560305 1066734 9980132 35692829 2007 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 1 0 1 1 MORGAN STANLEY 30.500000000000 0 0 0 0 0 A 0 PART I, LINE A A. SUBSEQUENT TO THE END OF THE FISCAL YEAR, ON JULY 1, 2024 THE 2005 REVENUE BONDS WERE FULLY PAID OFF USING AVAILABLE CASH FUNDS. PART II, LINE 11 - OTHER SPENT PROCEEDS $35,045,813 OF BOND PROCEEDS WERE USED TO REFUND BONDS ISSUED IN 1989, 1991, AND 1995. ISSUER FEE, TITLE INSURANCE, STATE BOND ISSUANCE CHARGE, SURVEY AND RECORDING FEES: $647,016 PART III, LINE 9 - ESTABLISHMENT OF WRITTEN PROCEDURES ON MAY 31, 2015, CR IMPLEMENTED A PROCESS TO MONITOR PRIVATE BUSINESS USE OF THE FACILITY. IN ADDITION, CR CONDUCTED A REVIEW OF THE PAST 5 YEARS OF THE FACILITY USE AND DETERMINED THAT NO PRIVATE USE OF THE FACILITY HAD OCCURRED THAT WAS NOT IN COMPLIANCE WITH THE NEW POLICY. X 16 89235 FAIR MARKET VALUE 0 1 0 SCHEDULE M, PART I, COLUMN (B) THE NUMBER 16 REPRESENTS THE NUMBER OF GIFT ITEMS OR CONTRIBUTORS THAT DONATED OF PUBLICLY TRADED SECURITIES RECEIVED BY CONSUMER REPORTS, INC. IN FISCAL YEAR 2024. EACH GIFT ITEM OR CONTRIBUTOR HAS 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 IT'S EDUCATIONAL PURPOSE. THE NUMBER OF PAID SUBSCRIBERS FOR EACH AS OF 5/31/24 INCLUDE CONSUMER REPORTS MAGAZINE 2,565,499; CONSUMER REPORTS ON HEALTH 354,739; AND CR ONLINE 2,772,522. 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 5/31/24, CONSUMER REPORTS CONDUCTED TESTS AND EVALUATIONS ON MORE THAN 2200 MODELS OF VARIOUS CONSUMER PRODUCTS, MAKING USE OF ABOUT 60 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 6 MILLION MEMBERS ACROSS THE U.S. CR SEEKS TO EMPOWER CONSUMERS WITH INFORMATION TO MAKE INFORMED DECISIONS ABOUT THE PRODUCTS THEY BUY, AS WELL AS INFORMATION TO ADVOCATE FOR CONSUMER RIGHTS. IN THE 87 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 TO ENSHRINE THE RIGHTS AND INTERESTS OF CONSUMERS IN LAWS AND REGULATIONS. WE PROVIDE 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, WEBINARS, PARTNERSHIPS WITH 170 ENGLISH AND SPANISH LOCAL TV STATIONS, AND MEDIA COVERAGE. THESE COMBINED EFFORTS LEVERAGE CONSUMER DEMAND TO SHAPE A PRO-CONSUMER MARKETPLACE, AND WE ENGAGE DIRECTLY WITH INDUSTRY TO SET STANDARDS AND PROMOTE SAFETY, DIGITAL RIGHTS, FINANCIAL FAIRNESS AND SUSTAINABILITY 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 FY24 (JUNE 1, 2023 THROUGH MAY 31, 2024) ACCOMPLISHMENTS AND MILESTONES, SOME OF WHICH INCLUDE: SAFER WATER - CR CHAMPIONS NEW RULE TO LIMIT PFAS IN DRINKING WATER CR HAS LONG BEEN ONE OF THE NATION'S LEADING VOICES ON THE HEALTH RISKS OF PFAS, OR PER- AND POLYFLUOROALKYL SUBSTANCES. PFAS ARE OFTEN CALLED "FOREVER CHEMICALS" BECAUSE THEY ARE EXTREMELY PERSISTENT IN THE ENVIRONMENT AND THE HUMAN BODY. IN 2024 THE EPA PLACED NEW LEGALLY ENFORCEABLE LIMITS ON SEVERAL PFAS COMPOUNDS IN DRINKING WATER. THESE INCLUDE TWO COMPOUNDS - PFOA AND PFOS THAT HAVE BEEN LINKED TO ADVERSE HEALTH IMPACTS INCLUDING CERTAIN CANCERS AND LOWERED IMMUNE RESPONSE. PREVIOUS EPA GUIDELINES SUGGESTED THAT THE TOTAL LEVELS OF THESE TWO LEGACY COMPOUNDS SHOULD NOT EXCEED 70 PARTS PER TRILLION (PPT). THE NEW RULING LIMITS THEM TO 4 PPT EACH. CR HAS CALLED FOR STRICTER LIMITS FOR YEARS. WE WORKED WITH THOUSANDS OF CONSUMERS TO TEST DRINKING WATER ACROSS THE UNITED STATES, AND WE ALSO DID A DEEP INVESTIGATION INTO DRINKING WATER IN MISSISSIPPI, WHICH HAS A HISTORY OF PROBLEMS PROVIDING SAFE AND RELIABLE WATER SERVICE. OUR TESTS REVEALED TROUBLING LEVELS OF PFAS AND OTHER CONTAMINANTS, AND WE SHARED OUR FINDINGS WITH EPA AND CONGRESS IN ADVANCE OF THIS HISTORIC RULE. PLUS, WE PROVIDE CONSUMERS WITH FREE INFORMATION ABOUT HOW TO TEST TAP WATER AND HOW TO GET AN ANNUAL WATER QUALITY REPORT, AS WELL AS INFORMATION ABOUT THE EPA'S SAFE DRINKING WATER HOTLINE, PRICING FOR CR'S RECOMMENDED TEST KITS, AND HOW TO PURCHASE WATER FILTRATION SYSTEMS THAT MEET NEW EPA REQUIREMENTS. FOOD SAFETY - IN CR-BACKED LAW, CALIFORNIA BANS HARMFUL FOOD ADDITIVES CR CELEBRATED A VICTORY IN THE PASSING OF THE CALIFORNIA FOOD SAFETY ACT ON OCTOBER 7, 2023. THIS LANDMARK CALIFORNIA LAW PREVENTS THE USE OF HARMFUL FOOD ADDITIVES, SUCH AS RED DYE NO. 3, POTASSIUM BROMATE, PROPYL PARABEN. AND BROMINATED VEGETABLE OIL (BVO). THESE CHEMICALS HAVE BEEN LINKED TO A VARIETY OF CHRONIC HEALTH CONDITIONS INCLUDING AN INCREASED RISK OF CANCER, HEART AND LIVER PROBLEMS, AND BEHAVIORAL, DEVELOPMENTAL AND REPRODUCTIVE ISSUES. WHILE THE FDA HAS PREVIOUSLY EVALUATED AND APPROVED THESE ADDITIVES FOR USE, RESEARCHERS AND CALIFORNIA LEGISLATORS NOTED THAT IN LIGHT OF NEW EVIDENCE, THE NOW DECADES-OLD APPROVALS NEED REEVALUATION. BACKERS OF THE LAW ALSO NOTE THAT THE NOW-BANNED SUBSTANCES HAVE BEEN REPLACED WITH ALTERNATIVES IN OTHER COUNTRIES AT LITTLE OR NO EXPENSE TO CONSUMERS. WHILE THE FOOD SAFETY ACT DOES NOT GO INTO EFFECT UNTIL 2027, SOME FOOD MANUFACTURING COMPANIES HAVE ALREADY STARTED TO COMPLY. MOST NOTABLY: JUST BORN (MADE POPULAR FOR THEIR "PEEPS" BRAND OF CANDIES). AFTER OUR COLLECTION OF NEARLY 30,000 PETITION SIGNATURES, JUST BORN INFORMED CR THAT NONE OF ITS PRODUCTS WOULD BE PRODUCED USING RED NO. 3. AFTER EASTER OF 2024. CR AND THE ENVIRONMENTAL WORKING GROUP (EWG) CO-SPONSORED THIS LAW, AND WE ARE NOW WORKING IN STATES LIKE NEW YORK, WHERE OFFICIALS ARE CONSIDERING SIMILAR LEGISLATION. - CR BACKS USDA POLICY CHANGE TO PREVENT SALMONELLA EXPOSURE IN ANOTHER WIN FOR SAFER FOOD, THE U.S. DEPARTMENT OF AGRICULTURE NOW CLASSIFIES SALMONELLA AS AN "ADULTERANT" IN BREADED POULTRY PRODUCTS. THE USDA'S FOOD SAFETY AND INSPECTION SERVICE (FSIS) HAS ESTABLISHED A THRESHOLD FOR SALMONELLA CONTAMINATION, DIRECTED SPECIFICALLY AT ANY RAW BREADED STUFFED CHICKEN PRODUCTS. FSIS NOTES THAT A POSITIVE SALMONELLA TEST AT 1 CFU PER GRAM OR HIGHER FALLS OUTSIDE OF A SAFE RANGE, AND CAN POTENTIALLY MAKE CONSUMERS SICK. MORE THAN 160,000 AMERICANS ARE SICKENED BY SALMONELLA IN POULTRY EVERY YEAR, AND CR HAS LONG ADVOCATED FOR THIS TYPE OF ACTION, CITING EVIDENCE FROM OUR YEARS OF POULTRY INVESTIGATIONS. THE FINALIZED POLICY WILL ALLOW THE USDA TO STOP THE SALE OF PRODUCTS THAT DO NOT MEET THE NEW FOOD SAFETY STANDARDS, AND MITIGATE CONSUMER ILLNESS RISK. PRODUCT SAFETY -MAJOR RETAILERS REMOVE HAZARDOUS CHILD PRODUCTS FROM THE MARKET AMAZON, TARGET, AND WALMART ANNOUNCED THEY WILL PROHIBIT THE SALE OF WATER BEADS MARKETED TO CHILDREN. INITIAL ANNOUNCEMENTS OCCURRED ON DECEMBER 2023 AFTER MOUNTING PRESSURE FROM CR, PARENTS, DOCTORS, AND FEDERAL OFFICIALS. OTHER RETAILERS EVENTUALLY TOLD CR THEY WOULD DO THE SAME. WATER BEADS ARE OFTEN MARKETED AS SENSORY PLAY-TOYS OR ART SUPPLIES, THE BEADS CAN START SMALL AND EXPAND WHEN PUT IN WATER. THEY OFTEN COME IN BRIGHT CANDY COLORS, AND A SINGLE PACKAGE CAN CONTAIN THOUSANDS OF WATER BEADSTHUS INCREASING THE RISK OF ACCIDENTAL INGESTION BY INFANTS AND TODDLERS. ACCORDING TO THE CONSUMER PRODUCT SAFETY COMMISSION, AROUND 7,800 EMERGENCY ROOM VISITS WERE RECORDED FROM 2016 TO 2022 AS A RESULT OF WATER BEAD-RELATED INCIDENTS (THOUGH IT SAYS THIS NUMBER MAY BE MUCH HIGHER). IN JULY 2023, A 10 MONTH-OLD GIRL DIED IN WISCONSIN AFTER INGESTING WATER BEADSTRIGGERING A RECALL OF THE 'CHUCKLE & ROAR' WATER BEAD KIT MADE BY BUFFALO GAMES AND SOLD AT TARGET. THE THREE MAJOR RETAILERS HAVE ADDRESSED RISING SAFETY CONCERNS BY CHANGING THEIR POLICIES ON THE SALE OF WATER BEADS. THE SHIFT OCCURRED AFTER THE PUBLICATION OF CR STORY "NOBODY SHOULD LOSE THEIR CHILD OVER A TOY AND MONTHS OF ADVOCACY BY CR AND THOUSANDS OF OUR MEMBERS. CR CREATED A "SAFE AND SOUND" GUIDE TO SERVE AS A DETAILED COMPILATION OF TESTS, RATINGS, AND REVIEWS OF 1,000 + BABY PRODUCTS TO GIVE PARENTS PEACE OF MIND. THE GUIDE INCLUDES A CAR SEAT FINDER, AS WELL AS A LIST OF TESTED AND RECOMMENDED TOYS, STROLLERS, SLEEP AND NURSERY ITEMS, WE CONTINUE TO PRIORITIZE OUR COMMITMENT TO CHILDREN'S SAFETY BY SUPPORTING A NEW CONGRESSIONAL BILL THAT WOULD BAN WEIGHTED SLEEP PRODUCTS FOR INFANTS CATEGORIZING THEM AS "BANNED HAZARDOUS PRODUCTS" UNDER THE CONSUMER PRODUCT SAFETY ACT. BOTH TARGET AND BABYLIST TOLD CR THEY HAVE DECIDED TO STOP SELLING WEIGHTED SLEEP PRODUCTS FOR INFANTS. - CR TESTS UNCOVER SAFETY HAZARD IN PORTABLE BLENDERS 4.8 MILLION BLENDJET2 PERSONAL BLENDERS WERE RECALLED AFTER NUMEROUS CONSUMER CLAIMS OF OVERHEATING AND CATCHING FIRE, AS WELL AS BLADES BREAKING DURING USE. CR ADVOCATED FOR A RECALL IN THE MONTHS LEADING UP TO THE ANNOUNCEMENT. WE SAW THE CONSUMER COMPLAINTS ABOUT THE BLENDJET2 ON DATABASES LIKE THE CONSUMER PRODUCT SAFETY COMMISSION'S SAFERPRODUCTS.GOV SITE. WE CONDUCTED LABORATORY TESTING TO EVALUATE THE SAFETY OF THE BLENDJET2. WE USED A DURABILITY TEST TO STRESS A BLENDER'S MOTOR, DRIVETRAIN, AND BLADE ASSEMBLY. IN THE MIDDLE OF OUR DURABILITY TEST OF THE BLENDJET, THE BLADE ASSEMBLY BROKE OFF COMPLETELY. CR CALLED ON THE CONSUMER PRODUCT SAFETY COMMISSION TO LAUNCH AN IMMEDIATE INVESTIGATION, AND WE WARNED THE PUBLIC OF THE BLENDER'S SAFETY HAZARDS DURING THE HOLIDAY SHOPPING SEASON, WEEKS BEFORE THE COMPANY TOOK ACTION. A SAFER DIGITAL MARKETPLACE - CR DEVISES AN APP TO HELP CONSUMERS GAIN MORE CONTROL OVER THEIR PERSONAL DATA CR INTRODUCED "PERMISSION SLIP" A NEW APP THAT PROVIDES AN IN-DEPTH LOOK AT WHAT KINDS OF CONSUMER DATA COMPANIES COLLECT ABOUT THEM. CONSUMERS CAN USE THE APP TO DENY PERMISSION FOR THE SALE OF THEIR PERSONAL INFORMATIONOR DELETE IT ENTIRELY. CR PROVIDES THE CONSUMER WITH A LARGE LIST OF COMPANIES AND DATA BROKERS. WITH A FEW CLICKS, CONSUMERS CAN MAKE PRIVACY REQUESTS TO MULTIPLE COMPANIES AT ONCE. FORM 990, PART III, LINE 4B (CONTINUED) CR HAS MADE PERMISSION SLIP ACCESSIBLE BY EITHER A "FREE OR "PLUS" SUBSCRIPTION SERVICE. THE APP HAS GARNERED POSITIVE REVIEWS AND COVERAGE FROM THE WASHINGTON POST, FAST COMPANY, AND CNET AND IT BOASTS AN IMPRESSIVE 2.5 MILLION DATA REQUEST INITIATIONS. - CR BACKS NEW PRIVACY AND AI LAWS TO ENSURE DIGITAL PROTECTIONS FOR MORE THAN 35 MILLION AMERICANS SEVEN STATES - KENTUCKY, MARYLAND, MINNESOTA, NEBRASKA, NEW HAMPSHIRE, NEW JERSEY, AND RHODE ISLANDPASSED COMPREHENSIVE CONSUMER PRIVACY LAWS. PLUS, COLORADO BECAME THE FIRST STATE IN THE NATION TO PASS A LAW FOR HOW COMPANIES CAN USE ARTIFICIAL INTELLIGENCE, OR AI, TO MAKE DECISIONS ABOUT CONSUMERS. CR'S SURVEYS HAVE FOUND THAT MANY AMERICANS ARE CONCERNED ABOUT THE WAYS THAT AI CAN BE USED TO MAKE BIG DECISIONS ABOUT THINGS LIKE THE PRICES THEY PAY, THEIR HEALTHCARE, AND HOW THEY ARE CONSIDERED FOR EMPLOYMENT. CR'S ADVOCATES WERE HEAVILY INVOLVED IN THE EFFORTS TO SHAPE AND IMPROVE THE BILLS, AND WE TESTIFIED AT HEARINGS TO RECOMMEND WAYS TO STRENGTHEN THEM. THOUSANDS OF CR MEMBERS CONTACTED THEIR STATE LEGISLATORS TO TELL THEM TO STAND UP FOR THEIR DIGITAL RIGHTS. SOME OF THESE LAWS ARE MUCH STRONGER THAN OTHERS, AND A FEW HAVE SIGNIFICANT LOOPHOLES SOUGHT BY INDUSTRY, SO WE CONTINUE TO WORK WITH STATE OFFICIALS TO RAISE THE BAR FOR PRIVACY AND AI SAFETY. CR IS ALSO ONE OF THE ORGANIZATIONS THAT DEVELOPED THE GLOBAL PRIVACY CONTROL (GPC) FOR CONSUMERS TO USE IN CONJUNCTION WITH SEVERAL MAJOR WEB BROWSERS. WE PUBLISHED AN INTERACTIVE DIGITAL PRIVACY MAP OF THE UNITED STATES, WHICH HELPS CONSUMERS IDENTIFY STATES BASED ON THE STRENGTH OF THEIR PRIVACY LAWS. HOME SECURITY - CR INVESTIGATES SECURITY FLAWS FOUND IN VIDEO DOORBELLS, LEADING TO FIXES CR INVESTIGATED VIDEO DOORBELLS SOLD ON DIGITAL MARKETPLACES SUCH AS AMAZON, WALMART, TEMU, AND SHEIN. WE FOUND VULNERABILITIES THAT COULD COMPROMISE THE PRIVACY AND SECURITY OF CONSUMERS. A SECURITY BREACH IN A VIDEO DOORBELL COULD ALLOW A POTENTIALLY MALICIOUS INDIVIDUAL TO MONITOR THE DOORBELL CAMERA FEED, OR EVEN CONTROL IT OUTRIGHT. IN OUR INVESTIGATION, AN ENGINEER WAS ABLE TO HACK INTO AN EKEN BRAND DOORBELL CAMERA FROM 2,923 MILES AWAY. FURTHER INVESTIGATION REVEALED ADDITIONAL SECURITY FLAWS IN DOORBELLS SOLD BY THE SAME MANUFACTURER AS EKEN, BUT UNDER DIFFERENT BRAND NAMES. MOST LACKED A VISIBLE ID ISSUED BY THE FEDERAL COMMUNICATIONS COMMISSION (FCC). INITIAL CR QUERIES TO THE MANUFACTURER WENT UNANSWERED, BUT WERE ADDRESSED AFTER THE PUBLICATION OF OUR STORY. EKEN STATED THAT "NEW PACKAGING WITH THE ID WOULD BE AVAILABLE IN ABOUT A MONTH, AND IT FIXED SECURITY ISSUES CITED BY CR, WHICH WE CONFIRMED WITH FURTHER TESTING. WE SHARED OUR FINDINGS WITH THE FCC, WHICH SENT LETTERS SENT TO RETAILERS TO INQUIRE ABOUT WHICH STEPS WOULD BE TAKEN TO ENSURE THAT ALL PRODUCTS SOLD IN THEIR MARKETPLACES ADHERE TO FCC REGULATIONS. CR HAS ALSO ASKED ONLINE RETAILERS TO TAKE STEPS TO GUARANTEE THE QUALITY OF PRODUCTS AVAILABLE ON THEIR PLATFORMS, AND HAS ADVOCATED FOR POLICIES TO HOLD PLATFORMS ACCOUNTABLE FOR SELLING UNSAFE PRODUCTS. VEHICLE SAFETY STANDARDS - CR CHAMPIONS NEW RULE TO MAKE AUTOMATIC EMERGENCY BRAKING (AEB) STANDARD IN ALL NEW PASSENGER VEHICLES AUTOMATIC EMERGENCY BRAKING (AEB) IS A SAFETY TECHNOLOGY THAT CAN DETECT A POTENTIAL CAR CRASH AND AUTOMATICALLY BRAKE TO AVOID A COLLISION OR LESSEN THE SEVERITY OF IMPACT. ON APRIL 29, 2024, THE U.S. DEPARTMENT OF TRANSPORTATION'S NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION (NHTSA) FINALIZED A VERSION OF A RULE THAT WAS PROPOSED IN 2023. STARTING IN SEPTEMBER 2029, ALL U.S. VEHICLE MANUFACTURERS MUST MAKE AEB AND PEDESTRIAN AEB (PAEB) SYSTEMS STANDARD ISSUE IN EVERY CAR AND LIGHT TRUCK. ACCORDING TO NHTSA PROJECTIONS, THE USE OF AEB SYSTEMS COULD SAVE 360 LIVES A YEAR AND PREVENT AT LEAST 24,000 INJURIES ANNUALLY. CR HAS ADVISED NHTSA ON WAYS TO MAKE THE NEW RULE STRONG AND ENSURE IT DELIVERS ALL PROPOSED SAFETY BENEFITS TO CONSUMERS. IN AN FY24 CR PETITION, MORE THAN 24,000 INDIVIDUALS VOICED THEIR SUPPORT OF THE NHTSA'S PLANS. FOR YEARS, CR HAS PROVIDED COMPREHENSIVE VEHICLE RATINGS WITH ITS ANNUAL "TOP PICKS FOR AUTOS." TO INCENTIVIZE AUTOMAKERS TO PRODUCE SAFER VEHICLES, WE REQUIRE ALL "TOP PICKS SELECTIONS TO HAVE STANDARD AEB WITH PEDESTRIAN DETECTION, AS WELL AS STANDARD AEB THAT CAN PROVIDE A CERTAIN DEGREE OF BRAKING AT HIGHWAY SPEEDS. - CR'S COMMITMENT TO REDUCING HARMFUL EMISSIONS FROM VEHICLES A 2024 RULE ISSUED BY THE ENVIRONMENTAL PROTECTION AGENCY WILL REDUCE EMISSIONS FROM NEW CARS AND LIGHT-DUTY TRUCKS FOR MODEL YEARS 2027-2032, BUILDING ON PREVIOUS EPA STANDARDS FOR EARLIER MODEL YEARS. A CR ANALYSIS DETERMINED CONSUMERS COULD SAVE MORE THAN 1 TRILLION DOLLARS AND REDUCE CLIMATE POLLUTION BY OVER 12 BILLION TONS THROUGH 2050 UNDER THIS RULE. THE RULE WILL LEAD TO INCREASED PRODUCTION OF CLEANER, MORE FUEL-EFFICIENT CARS. AND IT GIVES AUTOMAKERS THE FLEXIBILITY TO COMPLY WITH A VARIETY OF VEHICLE OPTIONS, INCLUDING HYBRID VEHICLES, PLUG-IN HYBRIDS, ELECTRIC VEHICLES, AND MORE EFFICIENT GAS-POWERED VEHICLES. THE RULE IS DESIGNED TO ENSURE CONSUMERS WILL CONTINUE TO HAVE A WIDE RANGE OF CHOICES, INCLUDING PICKUP TRUCKS, SUVS, AND MINIVANS. IN FEDERAL HEARINGS AND FORMAL COMMENTS, CR EXPRESSED SUPPORT FOR THE PROPOSED STANDARDS. WE STATED THAT THE STANDARDS ARE ACHIEVABLE, COST EFFECTIVE, AND ALIGNED WITH BOTH MARKET TRENDS AND CONSUMER INTEREST IN CLEANER VEHICLES. WE INVITED CR MEMBERS TO TESTIFY AT THESE HEARINGS AS WELL, AND WE DELIVERED THOUSANDS OF PETITION SIGNATURES TO EPA IN SUPPORT OF A STRONG RULE. - SHINING A LIGHT ON HARMFUL CHEMICALS IN AUTO SEATS IN AN FY24 PEER-REVIEWED STUDY, RESEARCHERS FROM DUKE UNIVERSITY AND THE GREEN SCIENCE POLICY INSTITUTE MADE A TROUBLING DISCOVERY: THE AIR AND SEAT FOAM INSIDE THE VEHICLES THEY TESTED CONTAINED FLAME-RETARDANT MATERIAL LINKED TO CANCERS. COMPANIES ADD THESE FIRE-RETARDANT CHEMICALS TO SEAT FOAM (AS WELL AS CHILD CAR SEATS) TO COMPLY WITH A 1971 FEDERAL MOTOR VEHICLE SAFETY STANDARD. THIS 53-YEAR-OLD STANDARD IS LONG OVERDUE FOR AN UPDATE. WE DELIVERED A PETITION WITH MORE THAN 30,000 SIGNATURES TO NHTSA HEADQUARTERS IN WASHINGTON, D.C. CR IS CALLING ON TRANSPORTATION OFFICIALS TO CONSIDER ALTERNATIVE TESTING METHODS. SAFETY EXPERTS POINT TO CALIFORNIA, WHICH UPDATED ITS RULES FOR FURNITURE FLAMMABILITY. THIS TEST MODEL DOES AWAY WITH OPEN-FLAME STYLE TESTING AND REPLACES IT WITH A "SMOLDER TEST," WHICH DOES NOT REQUIRE THESE CHEMICALS. THIS STANDARD FOR FURNITURE WAS EVENTUALLY ADOPTED AT THE FEDERAL LEVEL, AND IT HAS DECREASED THE USE OF TOXIC FLAME RETARDANTS. FINANCIAL SECURITY - CR PRESSES FOR CONSUMER PROTECTIONS FOR "BUY NOW PAY LATER" SERVICES A NEW RULE BY THE CONSUMER FINANCIAL PROTECTION BUREAU (CFPB) REQUIRES "BUY NOW, PAY LATER" (BNPL) PROVIDERS TO ALLOW CONSUMERS TO DISPUTE CHARGES AND OBTAIN REFUNDSSIMILAR TO PROTECTIONS PEOPLE HAVE WHEN USING A CREDIT CARD. CR CHAMPIONED THIS RULE, POINTING TO OUR INVESTIGATIONS. WE FOUND THAT, WHILE BNPL SERVICES CAN BE CONVENIENT, MANY OF THEM LACK PROTECTIONS RELATED TO FRAUD, REFUNDS, RETURNS, AND DATA PRIVACY. OUR NATIONALLY REPRESENTATIVE SURVEY FOUND THAT 4 PERCENT OF PARTICIPANTS WHO HAVE USED BNPL SAID THEY HAD "DIFFICULTY STOPPING PAYMENTS" AFTER RETURNING AN ITEM. 5 PERCENT SAID THEY "HAD DIFFICULTY OBTAINING A REFUND." A CFPB REPORTS SAID MORE THAN 13 PERCENT OF BNPL TRANSACTIONS INVOLVED A RETURN OR DISPUTE. OF FIVE MAJOR FIRMS SURVEYED, CONSUMERS DISPUTED OR RETURNED $1.8 BILLION IN TRANSACTIONS, THE CFPB SAID. BUILDING ON OUR VISION FOR HEIGHTENED DIGITAL STANDARDS, CR ESTABLISHED A "FAIR DIGITAL FINANCE FRAMEWORK," WHICH HELPS US PROVIDE TIMELY AND THOROUGH EVALUATIONS OF DIGITAL FINANCE PRODUCTS AND SERVICES. WE SHARE THESE FINDINGS WITH THE COMPANIES AND RECOMMEND SOLUTIONS. - CREDIT BUREAUS AGREE TO PROVIDE FREE WEEKLY CREDIT REPORTS TO CONSUMERS THE "BIG THREE" CREDIT BUREAUS EQUIFAX, EXPERIAN, AND TRANSUNION AGREED TO PROVIDE CONSUMERS WITH FREE WEEKLY ACCESS TO REPORTS ON A PERMANENT BASIS, INSTEAD OF JUST ONE PER YEAR. FOR YEARS, CR HAS MET WITH CREDIT BUREAUS AND FEDERAL OFFICIALS TO PRESS FOR THIS MUCH-NEEDED CHANGE IN POLICY. CR IS NOW CALLING ON THE LEADING CREDIT BUREAUS TO DO MORE TO ENSURE CONSUMERS HAVE ACCESS TO ACCURATE CREDIT REPORTS. CR AND ITS FELLOW NONPROFIT "WORKMONEY" ASKED CONSUMERS TO CHECK THEIR CREDIT REPORTS AND COMPLETE A SURVEY TO DOCUMENT THEIR EXPERIENCES. OUT OF 4,300 'CREDIT CHECKUP' STUDY PARTICIPANTS, MORE THAN A QUARTER FOUND CRITICAL MISTAKES IN THEIR REPORTS. THE MISTAKES INCLUDED DEBTS THAT COULD HARM THEIR CREDIT SCORES, AND STIFLE THEIR FINANCIAL OPPORTUNITIES. KEY FINDINGS IN OUR STUDY SHOW THAT CONSUMERS HAD DIFFICULTY OBTAINING THEIR REPORTS, FOUND NUMEROUS ERRORS IN THEIR REPORTS, AND ENCOUNTERED AN INEFFECTIVE SYSTEM FOR DISPUTING THE ERRORS. FORM 990, PART III, LINE 4B (CONTINUED) RIGHT TO REPAIR CALIFORNIA, COLORADO, AND OREGON PASSED THREE OF THE NATION'S STRONGEST "RIGHT TO REPAIR" LAWS. THESE LAWS WERE BASED IN PART ON MODEL LEGISLATION WRITTEN BY CR. THESE LAWS REQUIRE MANY MANUFACTURERS TO PROVIDE PARTS, TOOLS, AND MANUALS TO INDEPENDENT REPAIR SHOPS AND DO-IT-YOURSELF CONSUMERS. THIS IS A WIN FOR COMPETITION AND CONSUMER CHOICE: PEOPLE WILL NOT BE FORCED TO TAKE THEIR BROKEN DEVICES TO THE MANUFACTURERS' HAND-PICKED REPAIR SERVICE, WHICH MAY CHARGE A PREMIUM PRICE. IT WILL ALSO HELP REDUCE THE TONS OF ELECTRONICS THAT ARE PILING UP IN LANDFILLS. THE COLORADO AND OREGON LAWS ARE THE FIRST TO OUTLAW A MANUFACTURER'S PRACTICE CALLED "PARTS PAIRING." THIS IS WHEN A MANUFACTURER INSTALLS SOFTWARE TO IDENTIFY AND AUTHENTICATE REPLACEMENT PARTS, WHICH CAN MAKE IT HARDER FOR INDEPENDENT REPAIRERS AND INDIVIDUALS TO MAKE REPAIRS. 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: UNREALIZED GAIN INTEREST RATE SWAP 912,432. PENSION RELATED CHANGES -5,127,394. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -207,072. ROUNDING CHARITABLE REMAINDER TRUST (2) ANNUITY NY N/A T 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0