| Return Reference | Explanation |
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| FORM 990, PART III, LINE 1: | ORGANIZATION'S MISSION THE COMMERCIAL CLUB OF CHICAGO (CLUB) WAS FOUNDED IN 1877 TO PROMOTE THE SOCIAL AND ECONOMIC VITALITY OF THE METROPOLITAN AREA OF CHICAGO. ORIGINALLY FOUNDED BY A GROUP OF 17 BUSINESS LEADERS WHO BELIEVED CHICAGO NEEDED A STRONG AND COHESIVE CIVIC FORCE TO HELP SHAPE THE COURSE OF THE CITY'S DEVELOPMENT, TODAY THE CLUB IS AN ORGANIZATION COMPRISED OF APPROXIMATELY 480 ACTIVE AND LIFE SENIOR BUSINESS, EDUCATIONAL, CIVIC, AND CULTURAL LEADERS WHO SEEK TO ADDRESS SOCIAL AND ECONOMIC ISSUES OF IMPORTANCE TO THE CHICAGO REGION. THE CLUB HOLDS AT LEAST 10 MEETINGS DURING THE YEAR TO HEAR SPEAKERS DISCUSS KEY ISSUES THAT IMPACT THE CHICAGO REGION. IN 1983, THE CLUB COMMISSIONED A STUDY OF THE ECONOMIC WELL-BEING OF THE CHICAGO METROPOLITAN AREA. THE STUDY CONCLUDED THAT CHICAGO WAS EXPERIENCING A GRADUAL EROSION OF ITS ECONOMIC VITALITY. IN RESPONSE, THE CLUB FORMED ITS CIVIC COMMITTEE TO UNDERTAKE PROJECTS TO BOLSTER CORE INDUSTRIES AND PURSUE NEW ECONOMIC OPPORTUNITIES FOR THE REGION. THE CIVIC COMMITTEE IS COMPRISED OF APPROXIMATELY 100 SENIOR EXECUTIVES OF THE CHICAGO REGION'S LEADING PRIVATE EMPLOYERS. ITS MISSION IS TO MAKE THE CHICAGO REGION THE BEST PLACE FOR EVERYONE TO LIVE, WORK, AND DO BUSINESS. THE CIVIC COMMITTEE ESTABLISHES TASK FORCES AND COMMITTEES TO UNDERTAKE STUDIES AND DEVELOPS RECOMMENDATIONS TO ADDRESS KEY POLICY ISSUES CONFRONTING THE CHICAGO REGION; AND HOLDS MEETINGS AND EVENTS THROUGHOUT THE YEAR TO DISCUSS ITS PROGRAMS AND TO HEAR FROM SPEAKERS ON KEY POLICY ISSUES. IN ADDITION, THE CLUB AND CIVIC COMMITTEE SUPPORT AFFILIATED ORGANIZATIONS TO DEVELOP AND IMPLEMENT IMPROVEMENTS IN POLICY AND OPERATIONS OF THE CITY OF CHICAGO, THE SURROUNDING REGION, AND THE STATE OF ILLINOIS. AT THE PRESENT TIME, THESE ORGANIZATIONS INCLUDE CIVIC COMMITTEE ACTION, CIVIC CONSULTING ALLIANCE, KIDS FIRST CHICAGO FOR EDUCATION (K1C), AND P33. THE CLUB'S FINANCIAL STATEMENTS INCLUDE THE ACTIVITIES OF THE COMMERCIAL CLUB OF CHICAGO AND CIVIC COMMITTEE, WHICH COMPRISE ONE LEGAL ENTITY. |
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERS THE COMMERCIAL CLUB OF CHICAGO IS A MEMBERSHIP ORGANIZATION. ACTIVE MEMBERS ARE RESPONSIBLE FOR THE VARIED UNDERTAKINGS OF THE CLUB AND WILL ACCEPT AND PERFORM, WITHIN REASONABLE LIMITATIONS, THE ASSIGNMENT OF WORK BY THE OVERSIGHT BODY TO ADVANCE THE CLUB'S INTERESTS. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS WHO MAY ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY THE COMMERCIAL CLUB OF CHICAGO IS A MEMBERSHIP ORGANIZATION. ACTIVE MEMBERS AND LIFE MEMBERS SHALL HAVE THE RIGHT TO ELECT THE CHAIR, THE VICE CHAIR, THE TREASURER AND THE SECRETARY AS OFFICERS OF THE CLUB (WITH SUCH OFFICERS SERVING IN THESE SAME ROLES FOR THE CIVIC COMMITTEE) AND ANY OTHER MEMBER-ELECTED DIRECTORS, AS APPLICABLE. |
| FORM 990, PART VI, SECTION A, LINE 7B | ANY AMENDMENTS OR CHANGES TO THE BYLAWS MUST BE APPROVED (I) BY THE MAJORITY OF THE DIRECTORS THEN IN OFFICE AND (II) BY A MAJORITY VOTE OF THE MEMBERS PRESENT AT ANY MEETING; PROVIDED, HOWEVER, THAT ANY MINISTERIAL CHANGES TO THE BYLAWS OR CHANGES TO THE BYLAWS REQUIRED BY LAW MAY BE ADOPTED BY A MAJORITY OF THE DIRECTORS THEN IN OFFICE. |
| FORM 990, PART VI, SECTION A, LINE 8B | COMMITTEES THERE WERE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY DURING THE YEAR. |
| FORM 990, PART VI, SECTION B, LINE 11B | REVIEW OF FORM 990 THE FORM 990 WAS PREPARED BY A NATIONAL PUBLIC ACCOUNTING FIRM IN CONJUNCTION WITH MANAGEMENT AND STAFF OF THE ORGANIZATION. A DRAFT WAS THEN PROVIDED TO MANAGEMENT. MANAGEMENT AND THE TREASURER REVIEWED A DRAFT VERSION OF THE FORM 990. SUBSEQUENT TO THEIR REVIEW, MANAGEMENT AND THE TREASURER, ALONG WITH THE ORGANIZATION'S VP, FINANCE & ADMIN DISCUSSED THE DRAFT VERSIONS WITH THE TAX PREPARERS INCLUDING ANY QUESTIONS OR NECESSARY REVISIONS. BASED ON FEEDBACK FROM THAT MEETING, THE FORM 990 WAS REVISED AS NECESSARY. THE BOARD OF DIRECTORS RECEIVED A COPY OF THE FORM 990 PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12B: DIRECTOR CONFLICT OF INTEREST POLICY NO DIRECTOR OR MEMBER OF ANY COMMITTEE SHALL DERIVE ANY PERSONAL PROFIT OR GAIN, DIRECTLY OR INDIRECTLY, BY REASON OF HIS OR HER MEMBERSHIP ON THE BOARD OF DIRECTORS OR A COMMITTEE. IF A DIRECTOR OR COMMITTEE MEMBER IS DIRECTLY OR INDIRECTLY A PARTY TO ANY TRANSACTION CONSIDERED BY THE BOARD OF DIRECTORS OR A COMMITTEE, THE DIRECTOR OR COMMITTEE MEMBER SHALL DISCLOSE THE MATERIAL FACTS OF THE TRANSACTION AND THE DIRECTOR'S INTEREST OR RELATIONSHIP PRIOR TO THE APPROVAL OR RATIFICATION OF THE TRANSACTION BY THE BOARD OF DIRECTORS OR COMMITTEE, AND SHALL NOT VOTE ON THE APPROVAL OR RATIFICATION OF THE TRANSACTION. |
| FORM 990, PART VI, SECTION B, LINE 12C | MONITORING CONFLICT OF INTEREST TRANSACTIONS THAT INVOLVE A BOARD MEMBER OR OFFICER ARE ASSESSED TO DETERMINE IF A CONFLICT OF INTEREST EXISTS. THE DECISIONS REGARDING IF A CONFLICT EXISTS IS DETERMINED BY THE GOVERNING COMMITTEE OF THE ORGANIZATION. IF A CONFLICT IS IDENTIFIED, THE MEMBER THAT IT RELATES TO IS ASKED TO ABSTAIN FROM THE CONVERSATION AND ANY RELATED DECISIONS MADE. ALTHOUGH THE ORGANIZATION'S CONFLICT OF INTEREST POLICY DOES NOT REQUIRE AN ANNUAL COMPLETION OF A CONFLICT OF INTEREST STATEMENT, EACH OFFICER, DIRECTOR, AND KEY EMPLOYEE IS REQUIRED TO DISCLOSE, ON A CONTEMPORANEOUS BASIS, WHEN A CONFLICT ARISES. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION APPROVAL THE CLUB USES THE FOLLOWING TO ESTABLISH COMPENSATION FOR ALL EMPLOYEES: A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY, AND APPROVAL BY THE BOARD AND COMPENSATION COMMITTEE. COMPENSATION IS CONTEMPORANEOUSLY DOCUMENTED BY THE COMPENSATION COMMITTEE. |
| FORM 990, PART VI, SECTION C, LINE 19 | DOCUMENTS AVAILABLE TO THE PUBLIC THE CLUB PROVIDES DOCUMENTS TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINES 7, 8, 9, AND 10: MANAGEMENT AND GENERAL LINES 7, 8, 9, AND 10 FOR OTHER SALARIES, PENSION PLAN ACCRUAL AND CONTRIBUTIONS, OTHER EMPLOYEE BENEFITS AND PAYROLL TAXES INCLUDE SERVICES DONATED TO RELATED AND AFFILIATED ORGANIZATIONS FOR ADMINISTRATIVE SUPPORT IN THE FOLLOWING AMOUNTS: CIVIC CONSULTING ALLIANCE $144,429 COMMERCIAL CLUB FOUNDATION $11,256 CIVIC COMMITTEE ACTION $6,506 KIC $136,532 P33 $45,372 ----------- TOTAL $344,095 ----------- |
| FORM 990, PART IX, LINE 11G | OTHER FEES: PROGRAM SERVICE EXPENSES 1,303,087. MANAGEMENT AND GENERAL EXPENSES 239,695. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,542,782. |
| FORM 990, PART XI, LINE 9: | CHANGE IN BENEFICIAL INTEREST IN ASSETS HELD BY OTHERS 12,140,664. |
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