2025-10-15T19:34:23-05:00 2024-06-30 946214841 ARMANINO ADVISORY LLC 2121 AVENUE OF THE STARS 15TH FLOOR LOS ANGELES CA 90067 990 2023-07-01 940399260 THE COMMONWEALTH CLUB - WORLD AFFAIRS OF CALIFORNIA COMM 4155976700 110 THE EMBARCADERO SAN FRANCISCO CA 94105 NICHOLAS LEON VP FINANCE & CFO 4155976700 2025-10-15 1 1 KATY BROWN P00650274 3104784148 2025-10-15 2023 2025-03-06 01:10:19Z GLORIA C DUFFY 110 THE EMBARCADERO SAN FRANCISCO CA 94105 24691209 0 X WWW.COMMONWEALTHCLUB.ORG X 1903 CA TO BE THE LEADING NATIONAL FORUM OPEN TO ALL FOR THE IMPARTIAL DISCUSSION (CONTINUED ON SCH. O)OF IMPORTANT PUBLIC ISSUES THAT AFFECT MEMBERSHIP, COMMUNITY, AND THE NATION. 81 79 67 104 1570657 49843 4607861 21685278 471749 955107 165026 418204 1402261 1430572 6646897 24489161 39000 458937 0 0 4809336 4960798 0 0 1183627 3382650 3406412 8230986 8826147 -1584089 15663014 31331311 44329729 5619483 2152041 25711828 42177688 TO BE THE LEADING NATIONAL FORUM OPEN TO ALL FOR THE IMPARTIAL DISCUSSION OF PUBLIC ISSUES IMPORTANT TO THE MEMBERSHIP, COMMUNITY, AND NATION. 0 0 4979606 458937 955107 GENERAL PROGRAMS - THE CLUB PROVIDES A FORUM WHERE THE NATION'S AND THE WORLD'S "THOUGHT LEADERS" ADDRESS CLUB MEMBERS AND THE GENERAL PUBLIC. THE TOPICS INCLUDE POLITICS, CULTURE, ECONOMICS, BUSINESS AND FOOD TO NAME A FEW. 4979606 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 80 0 1 67 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 81 79 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X NICHOLAS LEON 4155976700 110 THE EMBARCADERO SAN FRANCISCO CA 94105 DR GLORIA C DUFFY CO-PRESIDENT/CO-CEO 40.00 X X 65341 0 13339 PHILIP W YUN CO-PRESIDENT/CO-CEO (AS OF 11/23) 40.00 X X 50833 0 0 MARTHA RYAN BOARD CHAIR 2.00 X X 0 0 0 JOHN BOLAND VICE CHAIR 2.00 X X 0 0 0 JOHN FARMER TREASURER (THRU 11/23); DIRECTOR 2.00 X X 0 0 0 EVELYN DILSAVER TREASURER (AS OF 11/23) 2.00 X X 0 0 0 MICHAEL BAKER CHAIR, CHAPTER & AFFILIATES 2.00 X X 0 0 0 DR CAROL A FLEMING CHAIR, MEMBER-LED FORUMS 2.00 X X 0 0 0 ANNA WM MOK DIRECTOR - CCC 2.00 X 0 0 0 DON WEN DIRECTOR - CCC 2.00 X 0 0 0 DR MARY G F BITTERMAN DIRECTOR - CCC 2.00 X 0 0 0 JOSEPH I EPSTEIN DIRECTOR - CCC 2.00 X 0 0 0 SKIP RHODES DIRECTOR - CCC 2.00 X 0 0 0 SUSIE CRANSTON DIRECTOR - CCC 2.00 X 0 0 0 ROBERT ADAMS DIRECTOR - CCC 2.00 X 0 0 0 AVANISH SAHAI DIRECTOR - WA 2.00 X 0 0 0 BEN HOLZEMER DIRECTOR - WA 2.00 X 0 0 0 BRYAN WEISBARD DIRECTOR - WA 2.00 X 0 0 0 DEAN FEALK DIRECTOR - WA 2.00 X 0 0 0 FRANCESCA STERLING DIRECTOR - WA 2.00 X 0 0 0 JONATHAN VISBAL DIRECTOR - WA 2.00 X 0 0 0 KENNETH GUERNSEY DIRECTOR - WA 2.00 X 0 0 0 RAVI POTHARLANKA DIRECTOR - WA 2.00 X 0 0 0 ROBERT SIMS DIRECTOR - WA 2.00 X 0 0 0 STEVE KRAUSZ DIRECTOR - WA 2.00 X 0 0 0 YUMI SERA DIRECTOR - WA 2.00 X 0 0 0 ALEXIS KRIVKOVICH DIRECTOR 2.00 X 0 0 0 ANDREW POWELL DIRECTOR 2.00 X 0 0 0 BRENDA WRIGHT DIRECTOR 2.00 X 0 0 0 CAROL POSSIN DIRECTOR 2.00 X 0 0 0 CLAUDE B HUTCHISON JR DIRECTOR 2.00 X 0 0 0 CLAUDINE CHENG DIRECTOR 2.00 X 0 0 0 CONNIE SHAPIRO DIRECTOR 2.00 X 0 0 0 DAN ASHLEY DIRECTOR 2.00 X 0 0 0 DAVE MCMURTRY DIRECTOR 2.00 X 0 0 0 DAVID CHUN DIRECTOR 2.00 X 0 0 0 DAVID LEIMSIEDER DIRECTOR 2.00 X 0 0 0 DAVID SPENCER DIRECTOR 2.00 X 0 0 0 DENNIS WU DIRECTOR 2.00 X 0 0 0 DJ PATIL DIRECTOR 2.00 X 0 0 0 DORIAN DALEY DIRECTOR 2.00 X 0 0 0 DR COLLEEN B WILCOX DIRECTOR 2.00 X 0 0 0 DR KERRY P CURTIS DIRECTOR 2.00 X 0 0 0 DR ROBERT LEE KILPATRICK DIRECTOR 2.00 X 0 0 0 GEORGE D SMITH JR DIRECTOR 2.00 X 0 0 0 GERALD HARRIS DIRECTOR 2.00 X 0 0 0 HOLLY KERNAN DIRECTOR 2.00 X 0 0 0 HON TAD TAUBE DIRECTOR 2.00 X 0 0 0 J DENNIS BONNEY DIRECTOR 2.00 X 0 0 0 JAMES A MOORE DIRECTOR 2.00 X 0 0 0 JAMES STROTHER DIRECTOR 2.00 X 0 0 0 JAMIE WONG DIRECTOR 2.00 X 0 0 0 JASON PHILLIPS DIRECTOR 2.00 X 0 0 0 JEFFREY A FARBER DIRECTOR 2.00 X 0 0 0 JEFFREY BLEICH DIRECTOR 2.00 X 0 0 0 JENNY TORRES DIRECTOR 2.00 X 0 0 0 JOSEPH PERRELLI DIRECTOR 2.00 X 0 0 0 JOYCE SALVADOR DIRECTOR 2.00 X 0 0 0 JUDITH WILBUR DIRECTOR 2.00 X 0 0 0 KATIE ZOGLIN DIRECTOR 2.00 X 0 0 0 KEN PETRILLA DIRECTOR 2.00 X 0 0 0 LAVERN LIPINSKI DIRECTOR 2.00 X 0 0 0 LENNY MENDONCA DIRECTOR 2.00 X 0 0 0 LESLIE SAUL GARVIN DIRECTOR 2.00 X 0 0 0 MARY CRANSTON DIRECTOR 2.00 X 0 0 0 MARY HUSS DIRECTOR 2.00 X 0 0 0 MARYLES CASTO DIRECTOR 2.00 X 0 0 0 MICHAEL ISIP DIRECTOR 2.00 X 0 0 0 MICHELLE MEOW DIRECTOR 2.00 X 0 0 0 NANCY TRAVERS LUCAS DIRECTOR 2.00 X 0 0 0 NELSON WELLER DIRECTOR 2.00 X 0 0 0 NORA JAMES DIRECTOR 2.00 X 0 0 0 PETER HILL DIRECTOR 2.00 X 0 0 0 ROSE GUILBAULT DIRECTOR 2.00 X 0 0 0 SCOTT ANDERSON DIRECTOR 2.00 X 0 0 0 SIGURD ANDERSON DIRECTOR 2.00 X 0 0 0 STANLEY KNIGHT DIRECTOR 2.00 X 0 0 0 TERRY VOGT DIRECTOR 2.00 X 0 0 0 TONI REMBE DIRECTOR 2.00 X 0 0 0 VICTOR REVENKO DIRECTOR 2.00 X 0 0 0 WILLIAM ADAMS DIRECTOR 2.00 X 0 0 0 NICHOLAS C LEON VP FINANCE & CFO 40.00 X 174241 0 2703 MICHELLE D'ALO VP DEVELOPMENT & PROGRAMS 40.00 X 182268 0 2734 ALEJANDRO HERNANDEZ VP GUEST, EVENT & FACILITY SVCS 40.00 X 162890 0 11322 LAUREN SILVER VP EDUCATION 40.00 X 150673 0 19223 JENNY TIEU MANAGING DIRECTOR CLIMATE ONE 40.00 X 141532 0 9448 LISA MOSCHETTI EVENT SALES & MARKETING MANAGER 40.00 X 117410 0 8379 1045188 0 67148 11 0 1 0 PATRONMANAGER 33 W 60TH ST FL 2 NEW YORK NY 10023 ADVERTISING & MARKETING 209237 HC GLOBAL BUSINESS SOLUTIONS LLC 2121 NORTH CALIFORNIA BLVD WALNUT CREEK CA 94596 ACCOUNTING SERVICES 119190 2 615300 785750 20284228 21685278 CLUB PROGRAMS 900099 955107 955107 955107 1570657 0 1570657 1570657 1570657 418204 0 418204 418204 418204 25000 785750 111582 -86582 -86582 36963 90466 -53503 -53503 24489161 955107 1570657 278119 18400 18400 440537 440537 417378 97922 194906 124550 3693734 2650793 495879 547062 528115 367850 110618 49647 321571 211285 58735 51551 4690 4690 109137 109137 29018 29018 370833 247123 57371 66339 116302 51870 11836 52596 255412 116524 138888 133780 62308 47651 23821 791356 161456 521506 108394 86868 52651 15676 18541 4255 2216 2039 379289 379289 782339 472430 168783 141126 151807 151807 BAD DEBTS 191326 26241 165085 8826147 4979606 2662914 1183627 872281 1812427 1523928 486434 813590 120500 471399 188227 9000 0 0 41853 40632765 7156299 24258317 33476466 3306957 8029632 75839 174190 31331311 44329729 483586 623363 272612 293293 4863285 1095367 0 140018 5619483 2152041 X 21641401 38170851 4070427 4006837 25711828 42177688 31331311 44329729 15663014 866436 -63590 0 X 0 1 X 1 0 X 6525695 5848210 8004466 4607861 21685278 46671510 1316636 347238 397076 471749 955107 3487806 7842331 6195448 8401542 5079610 22640385 50159316 3239556 1325759 3481962 1411486 3187204 12645967 0 3239556 1325759 3481962 1411486 3187204 12645967 37513349 983246 96204 537441 1580402 1570657 4767950 983246 96204 537441 1580402 1570657 4767950 8773 0 8773 489588 15636 36963 542187 9315165 6291652 8938983 6684421 24248005 55478226 0.67620 0.60550 0.08590 0.08980 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2600457 4045989 949506 651757 6944195 2383824 216633 2600457 2709092 -250235 75033 2383824 2367003 342089 2709092 2546701 -36438 143260 2367003 1.00000 0 0 4345266 4345266 33502753 4483525 29019228 1512154 1445560 66594 1272592 1227214 45378 33476466 SECURITY DEPOSITS 140018 140018 X 25822521 866436 350723 1217159 24605362 29018 -145219 -116201 24489161 9293071 350723 145219 495942 8797129 29018 29018 8826147 PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT FUND CONSISTS OF SEVERAL DONOR-RESTRICTED ENDOWMENT FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF GOVERNORS TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE CLUB HAS A POLICY OF TRANSFERRING ANY INVESTMENT RETURNS, OTHER THAN THOSE WHICH ARE STIPULATED BY THE DONOR TO REMAIN IN PERPETUITY, TO EITHER NET ASSETS WITH DONOR RESTRICTIONS OR NET ASSETS WITHOUT DONOR RESTRICTIONS. THE CLUB'S SPENDING POLICY LIMITS THE WITHDRAWALS TO THE EXPECTED LONG-TERM RATE OF RETURN AT AN AVERAGE OF FIVE PERCENT. THE CLUB UTILIZES A SPENDING RATE OF THREE TO FIVE PERCENT OF A TRAILING TWELVE QUARTER AVERAGE OF THE FAIR VALUE OF THE ENDOWMENT FUNDS FOR THIS PURPOSE. ANY ANNUAL SPENDING AMOUNT REMAINING AT THE END OF THE FISCAL YEAR CONTINUES TO BE AVAILABLE FOR THE SUCCEEDING TWO YEARS. PART X, LINE 2: THE ORGANIZATION IS A QUALIFIED ORGANIZATION EXEMPT FROM FEDERAL INCOME AND CALIFORNIA FRANCHISE TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701(D) OF THE CALIFORNIA REVENUE FRANCHISE TAX CODE, RESPECTIVELY. THE CLUB ONLY RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED AND CHANGES IN RECOGNITION OR MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGMENT OCCURS. THE CLUB HAS EVALUATED ITS CURRENT TAX POSITIONS AND HAS CONCLUDED THAT AS OF JUNE 30, 2024, IT DOES NOT HAVE ANY SIGNIFICANT TAX POSITIONS FOR WHICH A RESERVE WOULD BE NECESSARY. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -90,466. DIRECT FUNDRAISING EXPENSES INCLUDED IN EXPENSES -54,753. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 90,466. DIRECT FUNDRAISING EXPENSES INCLUDED IN EXPENSES 54,753. 0 0 0 0 0 0 0 0 0 0 0 0 CLIMATE ONE EUROPE (INCLUDING ICELAND & GREENLAND) 1 440537 WIRE TRANSFER 0 0 0 0 0 0 ANNUAL GALA 810750 785750 25000 527 87572 2450 21033 810750 785750 25000 527 87572 2450 21033 111582 -86582 0 0 0 THE ORGANIZATION BOOK AWARDS HONOR WRITERS FOR OUTSTANDING CONTRIBUTIONS TO FICTION, NONFICTION, POETRY, JUVENILE LITERATURE, FIRST WORKS OF FICTION, 4 18400 0 PART I, LINE 2: THE ORGANIZATION MAKES AWARDS BASED ON LITERARY MERIT, BUT DOES NOT MONITOR THE USE OF FUNDS AWARDED. PART III: THE AWARD IS AN ANNUAL EVENT. THE ORGANIZATION DOES NOT AWARD TRADITIONAL GRANTS. X 0 0 0 0 0 0 0 0 0 MICHELLE D'ALO VP DEVELOPMENT & PROGRAMS 182268 0 0 0 0 0 2734 0 0 0 185002 0 0 0 NICHOLAS C LEON VP FINANCE & CFO 174241 0 0 0 0 0 2703 0 0 0 176944 0 0 0 ALEJANDRO HERNANDEZ VP GUEST, EVENT & FACILITY SVCS 162890 0 0 0 0 0 1750 0 9572 0 174212 0 0 0 LAUREN SILVER VP EDUCATION 150673 0 0 0 0 0 2352 0 16871 0 169896 0 0 0 JENNY TIEU MANAGING DIRECTOR CLIMATE ONE 141532 0 0 0 0 0 2175 0 7273 0 150980 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 MARY CRANSTON AND SUSIE CRANSTON HAVE A FAMILIAL RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 4 DURING THE FISCAL YEAR ENDING JUNE 30, 2024, THE ORGANIZATION COMPLETED A GOVERNANCE AND LEADERSHIP RESTRUCTURING FOLLOWING THE FORMAL MERGER OF THE COMMONWEALTH CLUB OF CALIFORNIA AND WORLD AFFAIRS. THE MERGER BECAME EFFECTIVE NOVEMBER 1, 2023, FOLLOWING APPROVAL BY THE RESPECTIVE BOARDS OF TRUSTEES AND MEMBERSHIP VOTES. AS PART OF THE INTEGRATION, THE MERGED ENTITY, NOW OPERATING AS COMMONWEALTH CLUB WORLD AFFAIRS OF CALIFORNIA ("CCC-WA"), ADOPTED A CO-CHIEF EXECUTIVE MODEL. DR. GLORIA C. DUFFY AND PHILIP W. YUN WERE APPOINTED CO-PRESIDENTS & CO-CEOS AND, IN THESE CAPACITIES, SHARE JOINT RESPONSIBILITY FOR OVERALL ORGANIZATIONAL STRATEGY, PROGRAM DEVELOPMENT AND DELIVERY, PUBLICATIONS AND BROADCASTS, MEMBERSHIP SERVICES, OUTREACH AND FUNDRAISING ACTIVITIES. THE CO-CHIEF EXECUTIVE STRUCTURE WAS ADOPTED TO COMBINE THE INSTITUTIONAL STRENGTHS AND PROGRAMMATIC REACH OF BOTH LEGACY ORGANIZATIONS AND TO ENSURE CONTINUITY OF PROGRAMS AND SERVICES DURING THE INTEGRATION PERIOD. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE REVIEWS THE FORM 990 IN DETAIL. ONCE THE FORM IS ACCEPTABLE TO THE AUDIT COMMITTEE, IT IS FORWARDED TO THE FULL BOARD BEFORE FILING WITH THE TAXING AUTHORITIES. FORM 990, PART VI, SECTION B, LINE 12C THE CO-PRESIDENTS AND CO-CEOS SEND A LETTER ANNUALLY TO THE OFFICERS AND THE BOARD OF GOVERNORS. THE LETTER INCLUDES A QUESTIONNAIRE REQUESTING DISCLOSURE OF POTENTIAL CONFLICTS. ALL EMPLOYEES ARE COVERED BY THE CONFLICT OF INTEREST POLICY CONTAINED IN THE EMPLOYEE HANDBOOK. IN THE CASE OF A CONFLICT OF INTEREST BEING DISCOVER OR REPORTED, THE CLUB'S AUDIT COMMITTEE (CHARGED WITH RISK MANAGEMENT) IS IMMEDIATELY CALLED UPON TO ASSESS THE LEVEL OF CONFLICT AND ANY ASSOCIATED RISK TO THE CLUB. ITS FINDING/RECOMMENDATION IS THEN PASSED TO THE EXECUTIVE COMMITTEE OF THE BOARD FOR FINAL DISPOSITION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS REVIEWED BY A PERSONNEL COMMITTEE. THE BOARD'S PERSONNEL COMMITTEE IS COMPRISED OF INDEPENDENT PERSONS. THE PERSONNEL COMMITTEE UTILIZES INFORMATION AVAILABLE TO DETERMINE THE APPROPRIATENESS OF THE COMPENSATION PAID. THE INFORMATION USED INCLUDES COMPARABLE STUDIES OF SIMILAR ORGANIZATIONS AND POSITIONS, MARKET FACTORS AND RESPONSIBILITIES UNIQUE TO THE ORGANIZATION. UPON COMPLETION OF ITS REVIEW, THE PERSONNEL COMMITTEE MAKES ITS RECOMMENDATION TO THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE REQUIRED DOCUMENTS ARE AVAILABLE FOR PUBLIC INSPECTION UPON WRITTEN REQUEST.