Chamber’s Failure to Report Salary for Top Officials, Including Whitman Ally and Chamber CEO Allan Zaremberg, Represents Clear Violation of U.S. Tax Code
Over $2.9 Million in Potential Salary and Compensation Information Not Properly Disclosed
Sacramento – The California Democratic Party today reported filing a complaint with the Internal Revenue Service (IRS) against the California Chamber of Commerce for failing to disclose the salaries of their top officials including CEO Allan Zaremberg. The Chamber of Commerce has recently stepped up its advocacy efforts on behalf of Republican candidates across the nation and in California where they endorsed Meg Whitman for governor.
“The California Chamber of Commerce’s lack of disclosure in this case constitutes a critical failure of transparency and accountability,” said Hilary Crosby CPA, Controller of the California Democratic Party. “We would hope that the Chamber spend more time minding their books and ledger sheets instead of engaging in smear campaigns against Democratic candidates here in California.”
“If the Chamber is getting a tax break people have a right to know how much their CEO and other top officials are taking home,” she continued.
The copy of the Chamber's Form 990 for the tax year ending September 30, 2009 provided for public review, as required by law, fails to disclose the amount of compensation for CEO Allan Zaremberg and other officers and key officials as required by law. Instead of listing the salaries for top officials, the Chamber listed a total of $2,256,014 (plus $678,057 in “other”) in reportable compensation – effectively hiding the salaries of top officials.
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