Consumer Reports Inc.

“Members, stockholders consumer reports is a new york state not-for-profit membership corporation. The members for new york not-for-profit law purposes are any individual with a paid membership to the consumer reports membership program. Members can elect the board of directors at the annual meeting of members; adopt, amend or repeal the by-laws of the corporation; call a special meeting of the members under certain circumstances; and exercise such other powers as are provided by law.”

“See explanation on line 6 above.”

“Form 990 review process the 990 is prepared utilizing the assistance of an independent accounting firm, kpmg. The related services from kpmg are approved by the audit committee as part of the audit approval process. After the 990 is prepared by cr finance department with coordination with kpmg, it is reviewed by the controller and cfo before it is reviewed and approved by the audit committee. A copy of the 990 is then provided to the board of directors prior to its filing.”

“Conflict of interest compliance process consumer reports' board of directors and staff members are required to fill out and sign a disclosure of interest statement and attestation of compliance each year. Board members' forms are reviewed by a committee of the board; staff members' forms are reviewed by an outside independent reviewer. Any conflicts will be addressed with the applicable board or staff member, with unresolved conflicts addressed by the appropriate conflict of interest committee. Remedies for conflicts of interest include recusal from participation in the matter giving rise to the conflict, disposing of an investment, termination of employment or resignation.”

“The executive committee of the board of directors reviews the compensation provided to cr's president and senior executive staff to ensure that they are consistent with cr's mission, are designed to attract and retain the high levels of leadership talent needed to achieve cr's operating plans, and are compliant with law. To that end, the executive committee (1) recommends to the board of directors compensation plans and pay levels for the president and chief executive officer, taking into account peer group practices and any special considerations, as well as employment agreements; (2) reviews the compensation of the president and senior executive staff to ensure compliance with the irs intermediate sanction requirements; and (3) reviews and approves (a) for executives reporting directly to the president, any proposed compensation increase for current executives and the proposed compensation for any new hire and (b) for executives not reporting directly to the president, (i) any proposed compensation increase that exceeds the annual salary increase guidelines established by people and culture and (ii) the proposed compensation for any new executive hire that exceeds the market median as reported in executive compensation studies conducted by a third party executive compensation consulting firm. The executive committee's recommendation on the president's compensation plans and pay levels is voted on by the full board of directors. Deliberations and decisions regarding the foregoing compensation arrangements are contemporaneously recorded in the organization's minutes. To ensure compliance with the irs intermediate sanctions as required and meet the conditions for the rebuttable presumption under treasury regulation 53.4958-6, the committee that determines compensation of executives are composed of members who are independent with respect to the compensation arrangements. The foregoing process for establishing compensation for the indicated persons was last undertaken in july 2023.”

“Public availability of financial statements and governing documents consumer reports' annual financial statements are made available to the public on its website, www.consumerreports.org. Our governing documents, form 1023, and conflict of interest policy are available to the public upon request.”

“Consumer information: consumer reports publishes and disseminates information and advice to consumers regarding topics such as consumer goods, services, health and personal finance in order to effect it's educational purpose. The number of paid subscribers for each as of 5/31/23 include consumer reports magazine 2,632,673; consumer reports on health 464,376; and cr online 2,785,245. Consumer reports does not accept outside advertising in any of its publications. In addition, consumer reports disseminates consumer information through other print, radio, television, electronic publishing and interactive media. Product information: consumer reports conducts independent and impartial tests and analyses on a wide range of consumer products and services, such as electronics, appliances, household products, insurance, recreational goods, and cars. The tests and surveys evaluate how the products and services perform and educate consumers on the extent to which they are convenient, safe, and economical. During the fiscal year ended 5/31/23, consumer reports conducted tests and evaluations on more than 2200 models of various consumer products, making use of about 60 laboratories and its auto track. The information gathered as result of these tests is disseminated to the general public as described above.”

“Consumer reports is dedicated to improving the lives of consumers and creating a fair and just marketplace for all of us. We are an independent, nonprofit organization with 6 million members across the u.s. Cr seeks to empower consumers with information to make informed decisions about the products they buy, as well as information to advocate for consumer rights. In the 87 years since cr was founded, we have built a legacy of trust among consumers by conducting expert rigorous science-based testing of products and services, incentivizing corporations to prioritize safety and transparency, and working with policymakers to enshrine the rights and interests of consumers in laws and regulations. We provide trusted information through testing, ratings, and reviews; surveys, reports and analyses; and investigative and service journalism - all of which is disseminated through multiple digital and print platforms that reach more than 15 million people each month. The public can access substantial free consumer education information as a public service through consumerreports.org, cr social media channels, webinars, partnerships with 170 english and spanish local tv stations, and media coverage. These combined efforts leverage consumer demand to shape a pro-consumer marketplace, and we engage directly with industry to set standards and promote safety, digital rights, financial fairness and sustainability principles in the design and delivery of products and services. Consumer reports' longstanding commitment to educating consumers and advocating for laws, policies and practices that benefit consumers is exemplified by our fy 23 (june 1, 2022 through may 31, 2023) accomplishments, some of which include: product safety: - cr champions landmark law to help prevent deadly furniture tip-overs every year, more than 5,000 people go to the er because of dressers and other clothing storage units that tip over and fall onto them. At least 234 people have died over the last two decades, according to the consumer product safety commission. Tragically, the large majority of tip-over victims are young children. Cr has warned consumers, furniture manufacturers, and policymakers about the dangers of tip-overs for years. One of the fundamental problems has been the lack of rules for dresser stability. Manufacturers only had a voluntary standard to guide them. Cr tested dozens of dressers, and we found that companies were capable of making safe, sturdy products across a range of price points, but other dressers were unstable and prone to tipping over. We provided free information for how to secure a dresser to the wall with anchors. Many consumers told us they were unaware of anchors or couldn't find them at retailers. Some people thought anchors were unnecessary or too complicated to use, and some had rental homes with rules for putting holes in walls. It was clear that offering anchors alone was not a solution, and a voluntary safety standard was not sufficient. We needed a law. Cr's experts went to capitol hill to work with members of congress on a bill called the sturdy act. The word "sturdy" stands for "stop tip-overs of unstable, risky dressers on youth." it creates the first mandatory stability standard for dressers and similar furniture, and it also requires them to be sold with wall anchors. We met with parents whose children had been killed in tip-over incidents. They wanted to turn their grief into action, and we helped them organize the group "parents against tipovers." they became powerful advocates for the sturdy act, working with cr and other safety and health groups. We organized more than 20,000 people to sign petitions to congress, and generated more than 25,000 phone calls from consumers to their senators and representatives. We got companies like home depot and ikea to join us in supporting the bill, and lawmakers from both political parties came together to co-sponsor it. In december 2022, congress approved the sturdy act was as par”

“When your smartphone is broken, you often have two choices: get it fixed by the manufacturer's repair service for a premium price, or throw it away and buy a new one, which adds to the tons of electronics in landfills. Many companies have refused to let people take their broken products to independent repair shops that may charge more competitive prices, and many won't let consumers get the parts they need to fix their devices themselves. This industry practice has sparked a grassroots movement for the "right to repair." the issue touches on three of cr's priority areas: digital rights, sustainability and financial fairness. Cr wrote a model right-to-repair bill. It says manufacturers must provide repair tools, manuals, and replacement parts to consumers and independent repair shops. Our model has been used to craft legislation in congress and more than a dozen states. In the new york legislature, officials worked with cr on a bill called the digital fair repair act, which focuses on smartphones, laptops, and tablets. The bill passed overwhelmingly, but companies called on the governor to veto it. Our new york members made hundreds of phone calls and sent thousands of emails to their legislators and the governor. The new york daily news published an op-ed by cr to urge the governor to sign the bill. The governor ultimately did sign it, and new york became the first state with a broad right to repair law. Building on this momentum, cr took the fight to minnesota, where the governor signed an even stronger law that guarantees the right to repair phones, appliances, business computers, and other products. In fy24 the state of california passed a strong right to repair law of its own, and cr continues to push for laws at the state and national level. - a cr investigation leads to "game changer" for data privacy for the first time ever, the federal government punished an online company for sharing its users' sensitive health data with advertisers. Officials credited cr for discovering the problem. It started in 2020, when cr investigated goodrx, an online platform that offers discounts for prescription drugs. We found that goodrx was sharing consumers' personal details with more than 20 other internet-based companies, including google and facebook. The data included the names of medications people were researching, and other details that could let them pinpoint whose phone or laptop was being used. Shortly after our story was published, goodrx announced that it would take steps to address some of the problems raised by cr. In 2023 the federal trade commission announced an unprecedented enforcement action against goodrx. Under a proposed order, the ftc said goodrx agreed to pay a $1.5 million civil penalty for failing to report its unauthorized disclosure of consumer health data to companies, and it agreed to stop the sharing practices. The ftc said it was cr that brought the issue to light. This is the first time the ftc has taken action under a measure called the health breach notification rule. It's a potential game-changer for digital rights. As cr president marta tellado told the associated press: "this is a win for consumers, and it could have a profound effect on how our health information is kept private moving forward." - shining a light on the true cost of internet service with input from cr, the federal communications commission proposed a rule to mandate a "nutrition" label for internet services. The rule would require internet providers to display easy-to-read, nutrition-style labels about the actual costs and terms of service wherever they advertise their plans. It would help consumers compare prices among providers, and be better informed before they get locked into a contract. The fcc announced the proposal on the same day that cr unveiled our massive report on more than 22,000 bills we collected from broadband users across the u.s. We found fresh evidence of confusing bills, hidden fees, and a lack of competition am”

“In fy23 cr took a close look at two huge amazon warehouses in brooklyn's red hook neighborhood. We worked with residents and local businesses to install pollution and traffic sensors. The sensors recorded daily spikes in truck and van traffic on narrow two-lane streets, and logged many days with elevated air pollution. With these findings, cr is now working with residents and officials to find ways to reduce the environmental impact of these warehouses. Many of today's regulations were written decades ago, long before these large, round-the-clock e-commerce facilities existed. In new york, city and state policymakers are citing cr's investigations as they introduce proposals to rein in these big operations in their communities.”

“Unrealized gain interest rate swap 1,113,666. Pension related changes -1,822,822. Change in value of split interest agreement -179,105. Rounding -727.”