Chicago 2016 Publicizes Tax Filing Information

 Beijing London Chicago Association  (Chicago, IL): So 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, which was publicized on May 16, 2008, revealing the expenses 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.

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Here is what we do know

• 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.

• 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.

• 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.

• Douglas Smith was paid $251, 389. So this individual consultant accounted for about 2.8% of Chicago 2016's expenses thru June 2007.

• Mark Mitten was paid $220, 000. This individual consultant accounted for about 2.4% of Chicago 2016's expenses thru June 2007.

• 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.

• 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.

• 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).

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