Attach to Form 990 or 990-EZ.
Information about Schedule O (Form 990 or 990-EZ) and its instructions is at| Return Reference | Explanation |
|---|---|
| Form 990, Part VI, Section A, line 2 | David Chavern and Donald J Shepard both served on the Transamerica Board together in 2015. Thomas Bell Jr, Hank Linginfelter, and Suzanne Sitherwood served on the AFL Resources board together in 2015. Thomas Bell Jr and Jim Squires served on the Norfolk Southern board together and James Hixon was an officer of Norfolk Southern in 2015. Edward B Rust Jr, is a director at Caterpillar and Bradley Halverson is the CFO of Caterpillar. Tamara Lundgren and Robert Fatovic served on the Ryder Systems board together. |
| Form 990, Part VI, Section B, line 11 | In accordance with the Audit Committee charter, the draft Form 990 was provided in advance to the Audit Committee members, and reviewed individually with each member prior to filing. The Audit Committee performs this function pursuant to a delegation from the Board of Directors. The board receives the most recently completed tax return at the next regularly scheduled meeting. |
| Form 990, Part VI, Section B, line 12c | We annually notify staff of the Standards of Conduct and Ethics policy, which includes a requirement that any transaction or relationship that is reasonably expected to give rise to an actual or apparent conflict of interest be brought to the attention of a supervisor, a senior manager in the Talent Solutions department or the Office of the General Counsel. In addition, we issue an annual written questionnaire to all members of the board of directors asking for information on potential conflicts of interest, which is gathered by the Chief Financial Officer. All reports of potential conflicts will be evaluated by the Chief Legal Officer and General Counsel, who serves as the Chamber's Ethics Officer, in consultation with other senior management and staff, as appropriate. Any conflicts of interest involving board members or staff are resolved in accordance with the Chamber's conflicts policies. |
| Form 990, Part VI, Section B, line 15 | Part VI Question 15a The process for determining the total compensation of the President/CEO is as follows. The President/CEO has a written employment agreement with the Chamber. Total compensation is reviewed annually by an independent compensation consultant. The consultant prepares a compensation study primarily utilizing, as available, Form 990s and surveys of comparable organizations with similar responsibilities. Based on this information, total compensation is determined by the U.S. Chamber's Employee Compensation and Benefit Arrangements Committee on an annual basis. Part VI Question 15b The process for determining total compensation for the officers, key employees and highly compensated employees is as follows. For seven individuals, who are direct reports of the President/CEO, total compensation is reviewed annually by an independent compensation consultant. The consultant prepares a compensation study primarily utilizing, as available, Form 990s and surveys of comparable organizations with similar responsibilities. For the remaining five individuals, this consultant provides compensation information based on surveys of comparable organizations with similar positions. Based on this information, total compensation is determined by the President/CEO and the U.S. Chamber of Commerce's Employee Compensation and Benefit Arrangements Committee on an annual basis. |
| Form 990, Part VI, Section C, line 19 | The form 990 is made available to any member of the public who requests a copy. Any requestor is forwarded to the Administrative Director of Finance of the Chamber of Commerce of the USA, who will forward a copy of the document to the requestor. The organization's governing documents, conflict of interest policy, and financial statements are not made available to the public. Form 990, Part IV Question 12 Auditing of financial statements The U.S. Chamber of Commerce is the parent organization in the audited consolidated financial statements of the U.S. Chamber of Commerce. Schedule R lists additional related organizations included in these consolidated financial statements. |
| Form 990, Part XI, line 9: | Minimum Pension Reserve Liability Adjustment 9989788. Minimum Post Retirement Reserve Liability Adjustment 1364363. Rounding 2. |
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