Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| Form 990, Part IV Question 12 | Auditing of financial statements The Chamber of Commerce of the USA is the parent organization in the audited consolidated financial statements of the Chamber of Commerce of the USA. Schedule R lists additional related organizations included in these consolidated financial statements. |
| Form 990 Part V Item 1a | Number reported on 1096 Chamber of Commerce of the USA is part of a consolidated treasury function with affiliated organizations. The Chamber of Commerce of the USA handles these consolidated payments. The number in box 1a relates to the 1099s that the Chamber of Commerce of the USA would have issued without participating in a consolidated treasury function. |
| Form 990 Part V Item 2a | Number reported on W-3 The Chamber of Commerce of the USA is part of a consolidated payroll function with affiliated organizations. The Chamber of Commerce of the USA controls the payments of wages as a section 3401(d) statutory employer for the employees of affiliated entities. The number in box 2a is the number of the Chamber of Commerce of the USA's employees reported on Form W-3 by the Chamber of Commerce of the USA. |
| Form 990, Part VI, Section B, line 11b | 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. The 990 is reviewed by an independent accounting firm. |
| 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 of Commerce of the USA'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 of Commerce of the USA's conflicts of interest policies. |
| Form 990, Part VI, Section B, line 15 | Part VI Question 15a The process for determining the total compensation of the President and CEO is as follows: The President and CEO has a written employment agreement with the Chamber of Commerce of the USA. Total compensation is reviewed annually by an independent compensation consultant. The consultant prepares a compensation study primarily utilizing, as available, Forms 990 and surveys of comparable organizations with similar positions. Based on this information, total compensation is determined by the Chamber of Commerce of the USA's Compensation and Succession Committee on an annual basis. Part VI Question 15b The process for determining total compensation for the officers and key employees is as follows: Total compensation for individuals reporting to the President and CEO is reviewed annually by an independent compensation consultant. The consultant prepares a compensation study primarily utilizing, as available, Forms 990 and surveys of comparable organizations with similar positions. Based on this information, total compensation is determined by the Chamber of Commerce of the USA's Compensation and Succession Committee on an annual basis. Compensation for other individuals is determined utilizing market data, and approved by their supervisor and the Senior Vice President, Talent Solutions USCC and USCCF. |
| 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 VII, Section A and Sch J, Part II: | Thomas J. Donohue - The compensation for Mr. Donohue included his bonus payment for 2020 activities and a prorated portion of his bonus payment for 2021 activities, both of which were paid to him in 2021. |
| Form 990, Part IX, line 11g | Policy and business consultants 22431829. Temp Salaries and recruiting costs 1441502. Media consultants 87776. Other 55679. |
| Form 990, Part XI, line 9: | Minimum Pension Reserve Liability Adjustment 17744751. Minimum Post Retirement Reserve Liability Adjustment 762830. USIBC Global Private Ltd Results (Separate foreign corporation) 58768. Other -549. |
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