Business Council Inc
- Assets
- $21.1m
- Revenue
- $7.0m
- Investments
- $7.6m
- Employees
- 4
- Location
- Washington, DC
- Founding
- 05/1962
- Data as of
- 12/2023
- EIN
- 53-0226281
Organization Overview
Business Council Inc is located in Washington, DC. The organization was established in 1962. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Business Council Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Business Council Inc 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, Business Council Inc generated $7.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $4.1m during the year ending 12/2023. While expenses have increased by 8.9% per year over the past 8 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
THE BUSINESS COUNCIL IS A FORUM FOR THE TOP GLOBAL CEOS TO NETWORK, SHARE BEST PRACTICES AND DISCUSS POLICY IN AN OFF THE RECORD FORUM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERS GATHER IN PERSON AND BY VIDEO SEVERAL TIMES EACH YEAR TO SHARE BEST PRACTICES, NETWORK AND ENGAGE IN INTELLECTUALLY PROVOCATIVE, ENLIGHTENING DISCUSSIONS WITH PEERS AND THOUGHT-LEADERS IN BUSINESS, GOVERNMENT, ACADEMIA, SCIENCE, TECHNOLOGY AND OTHER DISCIPLINES. BUSINESS COUNCIL MEMBERSHIP IS BY INVITATION ONLY AND IS CAPPED AT 250 ACTIVE CEO'S. ALL DISCUSSIONS ARE OFF THE RECORD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gail K Boudreaux Chair | OfficerTrustee | 1 | $0 |
Corie Barry Vice Chair | OfficerTrustee | 1 | $0 |
Brian Cornell Vice Chair | OfficerTrustee | 1 | $0 |
Lisa Su Vice Chair | OfficerTrustee | 1 | $0 |
Carol Tome Vice Chair | OfficerTrustee | 1 | $0 |
Satya Nadella Immediate Past Chair | OfficerTrustee | 1 | $0 |
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 | $6,392,434 |
| Investment income | $597,566 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$32,091 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,957,909 |
| 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. | $615,377 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $332,944 |
| Pension plan accruals and contributions | $52,518 |
| Other employee benefits | $93,168 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,593 |
| Fees for services: Accounting | $26,240 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $50,677 |
| Fees for services: Other | $279,741 |
| Advertising and promotion | $0 |
| Office expenses | $20,105 |
| Information technology | $18,841 |
| Royalties | $0 |
| Occupancy | $148,719 |
| Travel | $38,108 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,217,544 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,158 |
| All other expenses | $1,282 |
| Total functional expenses | $4,075,400 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,174 |
| Savings and temporary cash investments | $6,982,903 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,509,025 |
| Investments—other securities | $7,559,275 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $33,945 |
| Total assets | $21,086,322 |
| Accounts payable and accrued expenses | $119,519 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $41,523 |
| Total liabilities | $161,042 |
| Net assets without donor restrictions | $20,925,280 |
| 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 | $21,086,322 |