Coming down the homestretch to the October selection of an Olympic host city, Chicago's 2016 bid team is postponing the disclosure of detailed financial information, even as it is coming under increasing pressure to answer questions over how Chicago would pay for a Summer Games.
The private, not-for-profit organization has requested its second three-month extension for its 2008 filing with the IRS, originally due May 15. The team earlier asked for an extension until Aug. 15, and now it will have until Nov. 15 to file the so-called Form 990. The new deadline is a month and a half after the International Olympic Committee votes for a host city Oct. 2, choosing among Chicago, Madrid, Rio de Janeiro and Tokyo.
Such filings provide the public with a glimpse into the financial workings of tax-exempt organizations. They detail revenues, expenses, compensation for highest-paid employees and for the top-paid contractors. Chicago Tribune report

