Commercial Club Of Chicago
- Assets
- $2.5m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 15
- Location
- Chicago, IL
- Founding
- 02/1929
- Data as of
- 06/2023
- EIN
- 36-2197847
Organization Overview
Commercial Club Of Chicago is located in Chicago, IL. The organization was established in 1929. According to its NTEE Classification (S21) the organization is classified as: Community Coalitions, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Commercial Club Of Chicago employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Commercial Club Of Chicago is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2023, Commercial Club Of Chicago generated $4.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $5.0m during the year ending 06/2023. While expenses have increased by 8.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
SEE SCHEDULE OTHE PURPOSE OF THE COMMERCIAL CLUB OF CHICAGO IS TO PROMOTE THE SOCIAL AND ECONOMIC VITALITY OF THE METROPOLITAN AREA OF CHICAGO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
POLICY INITIATIVES - THE CIVIC COMMITTEE ESTABLISHES TASK FORCES AND COMMITTEES TO UNDERTAKE STUDIES AND DEVELOPS RECOMMENDATIONS TO ADDRESS KEY POLICY ISSUES CONFRONTING THE CHICAGO REGION. IN FISCAL 2023, KEY INITIATIVES INCLUDED: PUBLIC SAFETY TASK FORCE, STATE FINANCE AND TAX POLICY TASK FORCE, TRANSPORTATION TASK FORCE, BUSINESS DIVERSITY TASK FORCE, EDUCATIONAL REFORM, VETERANS WORKING GROUP, AND OTHER INITIATIVES.
THE CLUB HOLDS MEETINGS AND EVENTS THROUGHOUT THE YEAR TO DISCUSS ITS PROGRAMS AND TO HEAR SPEAKERS DISCUSS KEY POLICY ISSUES THAT IMPACT THE CHICAGO REGION AND THE NATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly R Welsh President (thru 07/22) | OfficerTrustee | 38 | $327,009 |
Derek R B Douglas President (as Of 08/22) | OfficerTrustee | 36 | $516,626 |
Michael O'grady Chairman | OfficerTrustee | 1 | $0 |
Jennifer Scanlon Director/vice Chairman | OfficerTrustee | 1 | $0 |
Scott Swanson Director/treasurer | OfficerTrustee | 1 | $0 |
Jay L Henderson Director/secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sdi Presence Llc It Consulting | 6/29/23 | $242,128 |
Russell Reynolds Associates Consulting | 6/29/23 | $306,500 |
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 | $3,995,973 |
| Investment income | $77,862 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $62,842 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,163,527 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $1,559,361 |
| Compensation of current officers, directors, key employees. | $86,396 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,276,204 |
| Pension plan accruals and contributions | $56,955 |
| Other employee benefits | $166,340 |
| Payroll taxes | $137,527 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $52,484 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $549,643 |
| Advertising and promotion | $0 |
| Office expenses | $86,554 |
| Information technology | $399,822 |
| Royalties | $0 |
| Occupancy | $205,800 |
| Travel | $11,916 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $311,584 |
| Interest | $67 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $106,160 |
| Insurance | $25,984 |
| All other expenses | $39,970 |
| Total functional expenses | $5,030,848 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $692,553 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,264 |
| 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 | $2,311 |
| Net Land, buildings, and equipment | $71,725 |
| Investments—publicly traded securities | $1,482,130 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $206,798 |
| Total assets | $2,465,781 |
| Accounts payable and accrued expenses | $544,567 |
| Grants payable | $0 |
| Deferred revenue | $5,525 |
| 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 | $78,994 |
| Total liabilities | $629,086 |
| Net assets without donor restrictions | $1,836,695 |
| 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 | $2,465,781 |