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Chicago 2016
Publicizes Tax Filing Information
Beijing
London Chicago
Association (Chicago, IL): Now we know. Chicago 2016 paid out, slightly,
over $9 million, thru June of last year, in its official duty to win
Chicago the right to host the 2016 Olympic Summer Games.
The tax filing information, revealing the expenses, which was publicized on May 16, 2008, also indicated Chicago 2016 raised,
approximately,
$32 million, total, during the same period. This means
Chicago 2016
had almost 72%, or $23 million, of the funds raised between July 2006
and June 2007 left over when that period ended.
Unfortunately, we will probably wait until May 2009 to find
out what Chicago 2016 has raised and what it has spent since June of
last year because, although he did say, "our fundraising for the last
year has continued to be robust ...", Chicago 2016 spokesman Patrick
Sandusky was, apparently, not prepared to release that information.
Here is what we do know
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The March 1st 2007 "You Can Make It Happen" fund
raiser
dinner secured $9.4 million dollars for Chicago's 2016 Summer Olympic
Games bid, while costing Chicago 2016 $439, 228. So, the dinner raised
about 21 times the amount of money that it cost to carry out.
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According to the filing information, there were no
employees
on the Chicago 2016 payroll during the filing period. Work was carried
out by independent consultants and various other entities who, from an
accounting standpoint, were not employees of Chicago 2016. Some work,
as we first reported,
here, was, presumptively, also provided to Chicago 2016,
a non-profit, without charge, during the filing period.
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Hill & Knowlton, a public relations firm, was paid
$924,134. So, this firm accounted for about 10% of Chicago 2016's
expenses, thru June 2007.
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Douglas Smith was paid $251,389. So, this individual
consultant accounted for about 2.8% of Chicago 2016's expenses, thru
June 2007.
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Mark Mitten was paid $220,000. This individual consultant
accounted for about 2.4% of Chicago 2016's expenses, thru June 2007.
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Gordon Kane was paid $220,000. So, this individual
consultant accounted for about 2.4% of Chicago 2016's expenses, thru
June 2007, as well.
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Skidmore Owings & Merrill, an architect firm, was paid
$208,242. So, this firm accounted for about 2.3% of Chicago
2016's expenses, thru June 2007.
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About $5 million was paid to the United States Olympic
Committee (USOC). This accounted for over 50% of Chicago 2016's
expenses.
 The International Olympic Committee(IOC) will, reportedly, gather in Athens, Greece, in mid 2008, to reduce the international
candidate cities competing to host the 2016 Olympic Summer Games to
less than the current number of seven. The current seven international
candidate cities are Prague(Czech Republic), Doha(Qatar), Tokyo(Japan),
Baku(Azerbaijan), Madrid(Spain), Rio de Janeiro(Brazil), and, of
course, Chicago (U.S. - United States of America).
1943 Wartime Shortage Steel Pennies (author's collection)
This
news story is: Chicago
2016 Publicizes Tax Filing H8RC4
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