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Nonprofiteer
← INTERNATIONAL COUNCIL OF SHOPPING CENTERS INC

Form 990 for tax year 2023

Filed by INTERNATIONAL COUNCIL OF SHOPPING CENTERS INC.

Totals

Total revenue
$58,353,418
Total expenses
$57,135,497
Contributions and grants received
$0
Grants paid
$113,471
Program service revenue
$55,887,973
Investment income
$2,400,793
Other revenue
$64,652
Total assets, end of year
$178,869,072
Total liabilities, end of year
$77,473,329
Net assets or fund balances, end of year
$101,395,743
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: CONVENTIONS

    total $47,928,876 · related or exempt $47,928,876

  • 2b · Program service revenue: MEMBERSHIP DUES

    total $7,771,834 · related or exempt $7,771,834

  • 2c · Program service revenue: ADVERTISING AND PUBLICATIONS

    total $187,263 · related or exempt $54,678 · unrelated business $132,585

  • 3 · Investment income

    total $2,944,132 · excluded $2,944,132

  • 5 · Royalties

    total $23,000 · unrelated business $20,728 · excluded $2,272

  • 7a · Gross sales of assets other than inventory

    securities $8,434,744

  • 7b · Less cost or other basis and sales expenses

    securities $8,978,083

  • 7c · Gain or loss

    securities -$543,339

  • 7d · Net gain or loss

    total -$543,339 · excluded -$543,339

  • 11a · Other revenue: FOREIGN CURRENCY EXCHANGE GAIN/LO

    total $39,718 · excluded $39,718

  • 11d · All other revenue

    total $1,934 · excluded $1,934

  • 11e · Other revenue, total

    $41,652

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $113,471

  • 5 · Compensation of officers, directors and key employees

    total $4,573,862

  • 7 · Other salaries and wages

    total $15,796,291

  • 8 · Pension plan contributions

    total $1,020,089

  • 9 · Other employee benefits

    total $1,839,898

  • 10 · Payroll taxes

    total $1,182,258

  • 11b · Fees: legal

    total $160,032

  • 11c · Fees: accounting

    total $355,125

  • 11d · Fees: lobbying

    total $1,228,600

  • 11f · Fees: investment management

    total $301,343

  • 11g · Fees: other

    total $4,983,457

  • 12 · Advertising and promotion

    total $910,590

  • 13 · Office expenses

    total $427,341

  • 14 · Information technology

    total $933,285

  • 15 · Royalties

    total $3,086

  • 16 · Occupancy

    total $3,947,843

  • 17 · Travel

    total $882,606

  • 19 · Conferences, conventions and meetings

    total $2,952,301

  • 22 · Depreciation, depletion and amortization

    total $2,195,397

  • 23 · Insurance

    total $821,585

  • 24a · Other expenses: FOOD/BEVERAGE

    total $4,927,638

  • 24b · Other expenses: VENUE EXPENSE

    total $2,709,876

  • 24c · Other expenses: ON-SITE PROGRAM EXPENSE

    total $1,955,286

  • 24d · Other expenses: CREDIT CARD FEES

    total $1,519,468

  • 24e · All other expenses

    total $1,394,769

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,834,932 · end of year $13,469,720

  • 4 · Accounts receivable

    beginning of year $2,608,843 · end of year $2,362,569

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,147,003 · end of year $2,689,522

  • 10a · Land, buildings and equipment: cost or other basis

    $23,076,947

  • 10b · Land, buildings and equipment: accumulated depreciation

    $13,350,812

  • 10c · Land, buildings and equipment, net

    beginning of year $11,287,905 · end of year $9,726,135

  • 11 · Investments: publicly traded securities

    beginning of year $93,648,495 · end of year $108,835,938

  • 12 · Investments: other securities

    beginning of year $13,724,327 · end of year $10,927,874

  • 15 · Other assets

    beginning of year $33,645,678 · end of year $30,857,314

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,635,680 · end of year $6,296,819

  • 19 · Deferred revenue

    beginning of year $5,657,339 · end of year $6,458,788

  • 25 · Other liabilities

    beginning of year $64,160,310 · end of year $64,717,722

  • 27 · Net assets without donor restrictions

    beginning of year $90,774,267 · end of year $101,395,743

  • 28 · Net assets with donor restrictions

    beginning of year $669,587 · end of year $0

Mission and programs · 2023

Mission

THE PURPOSE OF ICSC IS TO SERVE ITS MEMBERS BY OFFERING AND DELIVERING PROGRAMS AND SERVICES AND ADVOCATING FOR AND PROMOTING THE MARKETPLACE INDUSTRY WITH THE GENERAL PUBLIC AND RELEVANT GOVERNMENTAL BODIES. ICSC SHALL ALSO HAVE SUCH POWERS TO DO EVERYTHING NECESSARY, SUITABLE OR PROPER, AT ANY TIME OR PLACE, FOR THE ACCOMPLISHMENT OF ANY OF THE PURPOSES ENUMERATED OR EXPEDIENT TO THE INTEREST OR BENEFIT OF ICSC AND ITS MEMBERS.

Activities or mission (Part I)

PROMOTE AND IMPROVE THE CONDITIONS OF THE MARKETPLACES INDUSTRY THROUGH PROFESSIONAL EDUCATION, CONFERENCES, PUBLICATIONS, RESEARCH AND LEGISLATIVE ACTION.

  • 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.

  • 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.

  • 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.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • GLENN RUFRANO

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • JAMES TAYLOR

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JOHN MORRISON

    PAST CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • ALEX NYHAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ALISON HALLBERG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ANDREA DRASITES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ANGELE ROBINSON-GAYLORD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ANTHONY BUONO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BRIAN ROSS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHARLES DIGIOVANNA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHRIS JOHNSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHRIS NOBLE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHRISTOPHER HOFFMANN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CLAUDE SIROIS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CONOR FLYNN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DANA TELSEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DAVID KRUEGER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DAVON BARBOUR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • EVE SEMBLER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • FERNANDO DE PEA IVER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • GEORGE DRUMMEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • HESSAM NADJI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • IVY GREANER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JAAP TONCKENS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JEFFREY EDISON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JENNY CHANG MCMULLEN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JODIE MCLEAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOE BRADY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOHN DOLSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOHN KITE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOHN MULLEADY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOHN JP SUAREZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JONATHAN SIEGEL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JORDAN FRIED

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH TICHAR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOSHUA SIMON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KENTON MCKEEHAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • LACY BEASLEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • LAURIE MAHOWALD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MANUEL MARTIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARK SCHURGIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARK MCDONALD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARK TORO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARTIN MAYER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MATTHEW RYAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MELVIN MANCE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL MIKE SHANAHAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • NICK HODGE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • NICOLE SHIMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • PARHAM PJ JAVAHERI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • PAUL HILLIARD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROBERT BOB WHELAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROBIN ZEIGLER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SALVATORE IACONO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SCOTT EISEN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SCOTT MCPHERSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SHANNON LETTS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN YALOF

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • STEVE COGAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • STEVE ROUMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TABASSUM ZALOTRAWALA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TERRENCE MAIDEN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • THEODORE TED FRUMKIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • THOMAS BOLEN III

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • WENDY SEHER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • WHITNEY LIVINGSTON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • WYNN SPENCER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ZACH MINTEER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • THOMAS MCGEE

    PRESIDENT & CEO

    Total calculated
    $3,605,439
    From this org
    $2,752,979
    From related orgs
    $0
    Other
    $852,460
    Hours/week
    35 + 1 related

    Schedule J breakdown matched by us

    Base
    $1,098,077
    Bonus
    $1,650,000
    Other
    $4,902
    Deferred
    $811,431
    Nontaxable benefits
    $41,029
    Filer's total
    $3,605,439

  • LESLEY CAMPBELL

    SR. VP & GENERAL COUNSEL

    Total calculated
    $451,804
    From this org
    $401,364
    From related orgs
    $0
    Other
    $50,440
    Hours/week
    35 + 1 related

    Schedule J breakdown matched by us

    Base
    $330,224
    Bonus
    $70,000
    Other
    $1,140
    Deferred
    $17,946
    Nontaxable benefits
    $32,494
    Filer's total
    $451,804

  • SEAN KRON

    CFO, TREASURER

    Total calculated
    $516,620
    From this org
    $459,685
    From related orgs
    $0
    Other
    $56,935
    Hours/week
    35 + 1 related

    Schedule J breakdown matched by us

    Base
    $372,063
    Bonus
    $85,000
    Other
    $2,622
    Deferred
    $23,100
    Nontaxable benefits
    $33,835
    Filer's total
    $516,620

  • VALERIE RICHARDSON

    CHIEF OPERATING OFFICER

    Total calculated
    $1,159,950
    From this org
    $1,122,701
    From related orgs
    $0
    Other
    $37,249
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $723,223
    Bonus
    $385,000
    Other
    $14,478
    Deferred
    $23,100
    Nontaxable benefits
    $14,149
    Filer's total
    $1,159,950

  • KRISTIN LOGSDON

    SR. VP, COMM, MARKETING, P

    Total calculated
    $568,393
    From this org
    $499,652
    From related orgs
    $0
    Other
    $68,741
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $402,030
    Bonus
    $95,000
    Other
    $2,622
    Deferred
    $36,300
    Nontaxable benefits
    $32,441
    Filer's total
    $568,393

  • BETSY LAIRD

    SR. VP, GLOBAL PUBLIC POLI

    Total calculated
    $578,648
    From this org
    $494,688
    From related orgs
    $0
    Other
    $83,960
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $401,164
    Bonus
    $86,000
    Other
    $7,524
    Deferred
    $49,500
    Nontaxable benefits
    $34,460
    Filer's total
    $578,648

  • MALACHY KAVANAGH

    EVP, GLOBAL & CORP DEVELOP

    Total calculated
    $590,417
    From this org
    $506,457
    From related orgs
    $0
    Other
    $83,960
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $398,933
    Bonus
    $100,000
    Other
    $7,524
    Deferred
    $49,500
    Nontaxable benefits
    $34,460
    Filer's total
    $590,417

  • BONNIE ARCHAMPONG

    CHIEF INFORMATION OFFICER

    Total calculated
    $464,521
    From this org
    $427,847
    From related orgs
    $0
    Other
    $36,674
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $346,707
    Bonus
    $80,000
    Other
    $1,140
    Deferred
    $23,100
    Nontaxable benefits
    $13,574
    Filer's total
    $464,521

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
26 August 2024
IRS schema version
2023v5.1
Source object
202443119349300844

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