WORLD BUSINESS CHICAGO

EIN: 364313685 501(c)(3) Community Improvement

CHICAGO, IL

Total Revenue
$9,847,802
Total Expenses
$9,289,730
Total Assets
$12,113,893
Net Assets
$8,446,999
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1999
Legal Domicile
IL
Principal Officer
PHILIP CLEMENT
Phone
3125530500
Tax Period
2024-01-01 to 2024-12-31

WORLD BUSINESS CHICAGO, founded in 1999, is a community nonprofit in the Community Improvement sector that reported $9.8M in total revenue in fiscal year 2024. Revenue fell 25% from the prior year — a significant decline worth monitoring. Expenses of $9.3M left a modest 6% surplus.

Mission

WORLD BUSINESS CHICAGO IS THE CITY OF CHICAGO'S PUBLIC-PRIVATE ECONOMIC DEVELOPMENT AGENCY. OUR MISSION IS TO DRIVE INCLUSIVE ECONOMIC GROWTH AND JOB CREATION, SUPPORT BUSINESS, AND PROMOTE CHICAGO AS A LEADING GLOBAL CITY.

Program Service Accomplishments

Program 1
Expenses: $7,175,437 Revenue: $1,268,974

WORLD BUSINESS CHICAGO (WBC) DRIVES ECONOMIC GROWTH THROUGH THREE MAIN AREAS: BUSINESS ATTRACTION AND RETENTION, INCLUSIVE ECONOMIC GROWTH AND JOBS, INTERNATIONAL STRATEGIC INITIATIVES AND CULTURAL...

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WORLD BUSINESS CHICAGO (WBC) DRIVES ECONOMIC GROWTH THROUGH THREE MAIN AREAS: BUSINESS ATTRACTION AND RETENTION, INCLUSIVE ECONOMIC GROWTH AND JOBS, INTERNATIONAL STRATEGIC INITIATIVES AND CULTURAL EXCHANGE THROUGH THE CHICAGO SISTER CITIES PROGRAM.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $8,588,768
Program Service Revenue $1,268,974
Investment Income $106,806
Other Revenue $-116,746
TOTAL REVENUE $9,847,802

Expense Breakdown

Grants Paid $27,585
Salaries & Benefits $5,526,668
Fundraising Expenses $470,023
Program Expenses $7,175,437
Other Expenses $3,670,477
TOTAL EXPENSES $9,289,730

Year-over-Year Comparison

2024 2023 Change
Revenue $9,847,802 $13,132,683 -0.3%
Expenses $9,289,730 $13,484,230 -0.3%
Net Income $558,072 $-351,547 -2.6%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
99
Independent Members
99
Employees
62
Volunteers
710

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$429,733
Total Directors
120
$175,436
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRANDON JOHNSON CHAIR 0.25
Officer Director
$0 $0 $0
LORI E LIGHTFOOT FORMER CHAIR 0.25
Officer Director
$0 $0 $0
CHARLES SMITH VICE CHAIR 0.25
Director
$0 $0 $0
MICHAEL MORKIN SECRETARY 0.50
Officer Director
$0 $0 $0
ARLA LACH TREASURER 0.50
Officer Director
$0 $0 $0
DAVID ANDALCIO DIRECTOR 0.25
Director
$0 $0 $0
RITA ATHAS EX OFFICIO DIRECTOR 0.25
Director
$0 $0 $0
CURT R BAILEY DIRECTOR 0.25
Director
$0 $0 $0
GREG BEDALOV EX OFFICIO DIRECTOR 0.25
Director
$0 $0 $0
MARC BAUMANN FORMER DIRECTOR 0.25
Director
$0 $0 $0
HARDIK BHATT DIRECTOR 0.25
Director
$0 $0 $0
KAREN BRENNAN DIRECTOR 0.25
Director
$0 $0 $0
ROZ BREWER FORMER DIRECTOR 0.25
Director
$0 $0 $0
ROBERT BRONSTEIN FORMER DIRECTOR 0.25
Director
$0 $0 $0
GREG BROWN DIRECTOR 0.25
Director
$0 $0 $0
ELIZABETH BUCHANAN DIRECTOR 0.25
Director
$0 $0 $0
JOHN BUCK FORMER DIRECTOR 0.25
Director
$0 $0 $0
MARTIN CABRERA DIRECTOR 0.25
Director
$0 $0 $0
GREGORY C CASE DIRECTOR 0.25
Director
$0 $0 $0
DAVE CASPER FORMER DIRECTOR 0.25
Director
$0 $0 $0
HOWARD CHRISMAN DIRECTOR 0.25
Director
$0 $0 $0
FRANCO CISTERNINO DIRECTOR 0.25
Director
$0 $0 $0
KEVIN COLE DIRECTOR 0.25
Director
$0 $0 $0
KEVIN CONSIDINE EX OFFICIO DIRECTOR 0.25
Director
$0 $0 $0
ALANNA COTTON DIRECTOR 0.25
Director
$0 $0 $0
STEPHANIE CURULEWSKI DIRECTOR 0.25
Director
$0 $0 $0
JAMES S CROWN FORMER DIRECTOR 0.25
Director
$0 $0 $0
WENDELL DALLAS DIRECTOR 0.25
Director
$0 $0 $0
KYLE DEGIULIO DIRECTOR 0.25
Director
$0 $0 $0
DAVE DOHNALEK FORMER DIRECTOR 0.25
Director
$0 $0 $0
DONALD EDWARDS FORMER DIRECTOR 0.25
Director
$0 $0 $0
JOE ERLINGER DIRECTOR 0.25
Director
$0 $0 $0
DR OPELLA ERNEST DIRECTOR 0.25
Director
$0 $0 $0
JOHN ETTELSON FORMER DIRECTOR 0.25
Director
$0 $0 $0
GRAHAM GRADY DIRECTOR 0.25
Director
$0 $0 $0
KELLY GRAVES DIRECTOR 0.25
Director
$0 $0 $0
RAJ GUPTA FORMER DIRECTOR 0.25
Director
$0 $0 $0
DARRELL HACKETT DIRECTOR 0.25
Director
$0 $0 $0
NINA HARDING DIRECTOR 0.25
Director
$0 $0 $0
DEAN HARRISON FORMER DIRECTOR 0.25
Director
$0 $0 $0
BRETT HART DIRECTOR 0.25
Director
$0 $0 $0
LORI E HEALEY DIRECTOR 0.25
Director
$0 $0 $0
TORRENCE HINTON DIRECTOR 0.25
Director
$0 $0 $0
JOHN M HOLMES DIRECTOR 0.25
Director
$0 $0 $0
MARK HOPLAMAZIAN DIRECTOR 0.25
Director
$0 $0 $0
MARK A HOPPE FORMER DIRECTOR 0.25
Director
$0 $0 $0
ZACHERY HOUSE DIRECTOR 0.25
Director
$0 $0 $0
PAUL HSU DIRECTOR 0.25
Director
$0 $0 $0
GREG HUGHES DIRECTOR 0.25
Director
$0 $0 $0
TRAVIS HUNTER JR DIRECTOR 0.25
Director
$0 $0 $0
LINDA IMONTI FORMER DIRECTOR 0.25
Director
$0 $0 $0
JAIME LM JONES DIRECTOR 0.25
Director
$0 $0 $0
STEVEN A KERSTEN DIRECTOR 0.25
Director
$0 $0 $0
DAVE KIMBELL DIRECTOR 0.25
Director
$0 $0 $0
KIP KIRKPATRICK DIRECTOR 0.25
Director
$0 $0 $0
GREG KLAMRZYNSKI DIRECTOR 0.25
Director
$0 $0 $0
JOHN KOUDOUNIS DIRECTOR 0.25
Director
$0 $0 $0
ASHISH LAL DIRECTOR 0.25
Director
$0 $0 $0
RYAN LARISON DIRECTOR 0.25
Director
$0 $0 $0
ERIC LEFKOFSKY DIRECTOR 0.25
Director
$0 $0 $0
FABIANO LIMA DIRECTOR 0.25
Director
$0 $0 $0
TONY MAGGIORE DIRECTOR 0.25
Director
$0 $0 $0
JEFFREY MALEHORN EX OFFICIO DIRECTOR 0.25
Director
$0 $0 $0
JAMES MANTANKY FORMER DIRECTOR 0.25
Director
$0 $0 $0
CRAIG MARTIN DIRECTOR 0.25
Director
$0 $0 $0
CHRISTINA MEITUS DIRECTOR 0.25
Director
$0 $0 $0
MICHAEL H MOSKOW DIRECTOR 0.25
Director
$0 $0 $0
KAREN MURPHY DIRECTOR 0.25
Director
$0 $0 $0
MARTIN H NESBITT FORMER DIRECTOR 0.25
Director
$0 $0 $0
PIN NI DIRECTOR 0.25
Director
$0 $0 $0
DIA NICHOLS DIRECTOR 0.25
Director
$0 $0 $0
MICHAEL O'GRADY DIRECTOR 0.25
Director
$0 $0 $0
FRANK PASQUESI DIRECTOR 0.25
Director
$0 $0 $0
LUKE PETHERBRIDGE DIRECTOR 0.25
Director
$0 $0 $0
JOSE LUIS PRADO DIRECTOR 0.25
Director
$0 $0 $0
RICHARD S PRICE DIRECTOR 0.25
Director
$0 $0 $0
GIL C QUINIONES DIRECTOR 0.25
Director
$0 $0 $0
JAIME REDMOND DIRECTOR 0.25
Director
$0 $0 $0
DAVID REIFMAN DIRECTOR 0.25
Director
$0 $0 $0
MICHAEL REINSDORF DIRECTOR 0.25
Director
$0 $0 $0
JIM REYNOLDS DIRECTOR 0.25
Director
$0 $0 $0
ROBBERT RIETBROEK FORMER DIRECTOR 0.25
Director
$0 $0 $0
JOHN C ROBAK DIRECTOR 0.25
Director
$0 $0 $0
DESIREE ROGERS DIRECTOR 0.25
Director
$0 $0 $0
LIOR RON DIRECTOR 0.25
Director
$0 $0 $0
KRISTEN ROSSI DIRECTOR 0.25
Director
$0 $0 $0
DAN RYAN FORMER DIRECTOR 0.25
Director
$0 $0 $0
MICHAEL J SACKS DIRECTOR 0.25
Director
$0 $0 $0
KAREN SAUDER DIRECTOR 0.25
Director
$0 $0 $0
KATHY SCHERER DIRECTOR 0.25
Director
$0 $0 $0
JENNIFER SCANLON FORMER DIRECTOR 0.25
Director
$0 $0 $0
ERIC SEDLER DIRECTOR 0.25
Director
$0 $0 $0
SMITA SHAH DIRECTOR 0.25
Director
$0 $0 $0
JEFF SHAPACK DIRECTOR 0.25
Director
$0 $0 $0
JON SHULKIN DIRECTOR 0.25
Director
$0 $0 $0
RYAN SMITH DIRECTOR 0.25
Director
$0 $0 $0
MARC F SPERBER DIRECTOR 0.25
Director
$0 $0 $0
JAMES SPRAYREGEN DIRECTOR 0.25
Director
$0 $0 $0
JENNIFER STEANS DIRECTOR 0.25
Director
$0 $0 $0
MARK SULLIVAN DIRECTOR 0.25
Director
$0 $0 $0
SCOTT C SWANSON DIRECTOR 0.25
Director
$0 $0 $0
MARK TEBBE DIRECTOR 0.25
Director
$0 $0 $0
DONALD THOMPSON DIRECTOR 0.25
Director
$0 $0 $0
WADE THOMSON DIRECTOR 0.25
Director
$0 $0 $0
EDWARD TILLY FORMER DIRECTOR 0.25
Director
$0 $0 $0
LAURA THONN DIRECTOR 0.25
Director
$0 $0 $0
JUDY TOLAND DIRECTOR 0.25
Director
$0 $0 $0
JEFF TOROSIAN DIRECTOR 0.25
Director
$0 $0 $0
ELIZABETH TULACH DIRECTOR 0.25
Director
$0 $0 $0
GLEN TULLMAN DIRECTOR 0.25
Director
$0 $0 $0
JAMES TURNER DIRECTOR 0.25
Director
$0 $0 $0
GRANT C UHLIR DIRECTOR 0.25
Director
$0 $0 $0
JOHN R WEISS DIRECTOR 0.25
Director
$0 $0 $0
TIM WENTWORTH DIRECTOR 0.25
Director
$0 $0 $0
MELISSA WERNECK DIRECTOR 0.25
Director
$0 $0 $0
DON WILSON DIRECTOR 0.25
Director
$0 $0 $0
JASON WORTENDYKE DIRECTOR 0.25
Director
$0 $0 $0
ANDREA ZOPP EX OFFICIO DIRECTOR 0.25
Director
$0 $0 $0
MICHAEL FASSNACHT EX OFFICIO DIRECTOR 0.25
Officer Director
$161,850 $13,586 $175,436
MELLODY HOBSON DIRECTOR 0.50
Officer Director
$0 $0 $0
PHILIP CLEMENT CEO & PRESIDENT 45.00
Officer
$228,201 $26,096 $254,297
CARRIE SIMMONS VP OF OPERATIONS & HR 45.00
Highest
$150,844 $35,024 $185,868
ABIN KURIAKOSE STRATEGY & INNOVATION CHIE 45.00
Highest
$152,086 $22,008 $174,094
KYLE SCHULZ GROWTH CHIEF OFFICER 45.00
Highest
$154,522 $16,988 $171,510
ADRIENNE TONGATE EVP GLOBAL STRATEGIC INITI 45.00
Highest
$143,844 $37,434 $181,278
ANDREW HAYES SVP, CHIEF OF STAFF 45.00
Highest
$133,867 $26,494 $160,361
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $9,847,802 $9,289,730 $12,113,893 $558,072
2023 $13,132,683 $13,484,230 $11,676,169 $-351,547
2022 $11,317,735 $11,739,073 $12,703,057 $-421,338
2021 $9,942,081 $8,933,544 $9,302,792 $1,008,537
2020 $6,232,116 $7,314,865 $8,111,466 $-1,082,749
2019 $6,631,146 $7,013,028 $9,646,324 $-381,882
2018 $9,208,666 $10,035,266 $10,793,677 $-826,600
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