International Council Of Shopping Centers Inc
- Assets
- $178.9m
- Revenue
- $58.4m
- Investments
- $10.9m
- Employees
- 118
- Location
- New York, NY
- Founding
- 01/1960
- Data as of
- 12/2023
- EIN
- 13-1854667
Organization Overview
International Council Of Shopping Centers Inc, operating under the name Icsc, is located in New York, NY. The organization was established in 1960. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Icsc employed 118 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Icsc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Icsc generated $58.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.0%) each year. All expenses for the organization totaled $57.1m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE AND IMPROVE THE CONDITIONS OF THE MARKETPLACES INDUSTRY THROUGH PROFESSIONAL EDUCATION, CONFERENCES, PUBLICATIONS, RESEARCH AND LEGISLATIVE ACTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TWO BIGGEST ANNUAL CONVENTIONS ARE HELD IN LAS VEGAS, NEVADA IN MAY, AND NEW YORK CITY, NEW YORK IN DECEMBER. THESE CONVENTIONS PROVIDE A FORUM FOR INDUSTRY MEMBERS TO NETWORK, MAKE LEASING DEALS AND LEARN ABOUT INDUSTRY RELATED TOPICS. THERE ARE ALSO INDUSTRY RELATED EXHIBITIONS AT THESE CONVENTIONS. THERE WERE 24,130 ATTENDEES AT THE EVENT IN LAS VEGAS AND 7,424 ATTENDEES AT THE NEW YORK EVENT.
WEBINAR TOPICS RELATE TO SHOPPING CENTER SITE LOCATIONS AND SELECTION, MANAGEMENT AND OPERATION, AND PROMOTION AND ADVERTISING. THERE WERE 7,453 ATTENDEES AT OUR VARIOUS WEBINARS.
IN ADDITION TO THE TWO BIGGEST ANNUAL CONVENTIONS, THERE WERE ALSO OTHER NATIONAL EVENTS HELD THROUGHOUT THE U.S. PARTICIPANTS TO THESE EVENTS ALSO GET THE OPPORTUNITY TO ATTEND INDUSTRY RELATED EXHIBITIONS AND INSTRUCTIONAL SESSIONS, ATTEND PANEL DISCUSSIONS, AS WELL AS EXCHANGE IDEAS AND EXPERIENCES WITH OTHER PARTICIPANTS. THERE WERE 2,516 ATTENDEES TO THESE OTHER NATIONAL EVENTS HELD DURING 2023.
REGIONAL MEETINGS AND CONFERENCES AND LOCAL PROGRAMS PROVIDE AN OPPORTUNITY FOR LOCAL PARTICIPANTS TO ATTEND INSTRUCTIONAL LECTURES AND EXCHANGE IDEAS ON VARIOUS INDUSTRY RELATED TOPICS. THESE MEETINGS ALSO PROVIDE OPPORTUNITIES TO DISCUSS AND NEGOTIATE NEW LEASE OPPORTUNITIES. THERE WERE 30,160 ATTENDEES TO THE REGIONAL MEETINGS AND CONFERENCES AND LOCAL PROGRAM EVENTS HELD DURING 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Glenn Rufrano Chairman | OfficerTrustee | 1 | $0 |
James Taylor Vice Chair | OfficerTrustee | 1 | $0 |
John Morrison Past Chairman | OfficerTrustee | 1 | $0 |
Alex Nyhan Board Member | Trustee | 1 | $0 |
Alison Hallberg Board Member | Trustee | 1 | $0 |
Andrea Drasites Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
1251 Americas Associates Ii Lp Real Estate Services | 12/30/23 | $3,553,534 |
Marxpro Ltd Event & Production | 12/30/23 | $1,374,355 |
Realtors Property Resource Software Subscription | 12/30/23 | $1,200,703 |
Marriott International Dba Jw Marriott Event & Production | 12/30/23 | $1,187,713 |
Las Vegas Convention And Visitors Author Event & Production | 12/30/23 | $1,066,222 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $55,887,973 |
| Investment income | $2,944,132 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $23,000 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$543,339 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $58,353,418 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $113,471 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,573,862 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,796,291 |
| Pension plan accruals and contributions | $1,020,089 |
| Other employee benefits | $1,839,898 |
| Payroll taxes | $1,182,258 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $160,032 |
| Fees for services: Accounting | $355,125 |
| Fees for services: Lobbying | $1,228,600 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $301,343 |
| Fees for services: Other | $4,983,457 |
| Advertising and promotion | $910,590 |
| Office expenses | $427,341 |
| Information technology | $933,285 |
| Royalties | $3,086 |
| Occupancy | $3,947,843 |
| Travel | $882,606 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,952,301 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,195,397 |
| Insurance | $821,585 |
| All other expenses | $1,394,769 |
| Total functional expenses | $57,135,497 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,469,720 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,362,569 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,689,522 |
| Net Land, buildings, and equipment | $9,726,135 |
| Investments—publicly traded securities | $108,835,938 |
| Investments—other securities | $10,927,874 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,857,314 |
| Total assets | $178,869,072 |
| Accounts payable and accrued expenses | $6,296,819 |
| Grants payable | $0 |
| Deferred revenue | $6,458,788 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $64,717,722 |
| Total liabilities | $77,473,329 |
| Net assets without donor restrictions | $101,395,743 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $178,869,072 |
Grants Awarded
Over the last fiscal year, International Council Of Shopping Centers Inc has awarded $110,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
TAX FOUNDATION PURPOSE: Event sponsorship | $10,000 |
INT'L COUNCIL OF SHOPPING CENTERS FOUNDATION PURPOSE: Diversity Initiative | $50,000 |
MARCH OF DIMES PURPOSE: Event sponsorship | $15,000 |
CALIFORNIA BUSINESS PROPERTIES ASSOCIATION PURPOSE: PROGRAM SUPPORT | $20,000 |
CONGRESSIONAL SPORTS FOR CHARITY PURPOSE: Event sponsorship | $15,000 |