The Economic Club of Washington, D.C.

The Economic Club of Washington, D.C. is a non-profit, non-partisan member-based organization that offers a forum where global leaders can share insights about major issues of the day to the community of the Washington area’s business executives. It is chaired by lawyer and businessman David Rubenstein.

History

20th century

The Economic Club of Washington, D.C. was founded in 1986 as a group that would serve to recognize the role that Washington, D.C. plays in the world economy. Under its first president, Robert Linowes, the Economic Club quickly established itself in its first six years as an eminent forum for the exchange of information about critical public policy issues. Harry McPherson, the Economic Club's second president from 1992 to 1999, continued on the course established by Linowes of measured growth and top-echelon speakers, which included Hillary Clinton and other notable featured guests. In 1999, former U.S. Senator George J. Mitchell succeeded McPherson as president, and served until 2004. Mitchell appointed a planning group composed of several members who were charged with developing a strategic plan. One idea led to the adoption of improved communication methods and streamlined management processes.

21st century

In 2004, following Mitchell's term, Vernon Jordan, became president, serving until 2008. Jordan further enhanced the caliber of speakers. In 2005, under his leadership, the club achieved a major milestone when U.S. president George W. Bush appeared as a speaker.

In 2008, David Rubenstein, a co-founder and co-executive chairman of The Carlyle Group, one of the world’s largest private equity firms, became chairman of the club. Under Rubenstein, the club's membership more than doubled from 425 to over 950 and the number of meetings held each season has grown from an average of four or five to as many as 12 to 14. As of 2019, Rubenstein also contributed nearly $1 million annually to the Economic Club of Washington, D.C. Scholarship Program.

Events and speakers

Signature events

The Economic Club hosts ten to twelve signature speaker events each year, generally organized around a breakfast, lunch, or dinner.  An average of 400 members and guests attend these meetings with some events surpassing 800. This audience is augmented by members of Congress, other U.S. political leaders, and serving Ambassadors from countries all over the world who regularly attend these events. Featured speakers in recent years have included the Presidents of the United States, Colombia, and Panama; the Prime Ministers of Finland, Israel and Singapore; a former Prime Minister of Great Britain; Speakers of the U.S. House of Representatives; heads of the Federal Reserve Board; every Secretary of the Treasury since 1986; other Cabinet members and government officials; and leaders of Fortune Global 100 corporations.

Executive Conversations

These are smaller group gatherings attended by approximately 50-100 Economic Club members. The more intimate setting allows for greater interaction between speakers and Club members in the exploration of subjects of compelling interest to the United States’ business community. These forums typically are closed to the media.

Global Executive Conversations

Similar to Executive Conversations, these smaller group gatherings allow for greater interaction between speakers and Club members on international topics, including foreign relations and intercontinental business. Speakers in recent history have included various ambassadors as well as foreign heads of state.

Global Initiative

The goal of the Global Initiative is to expand interaction between political and business leaders from other nations with the political, diplomatic, and opinion-leading business community in Washington, D.C., and the surrounding area, with an emphasis on economic development.  The Economic Club weaves the Global Initiative into existing programming – notably the Signature Speaker Series and Global Executive Conversation Series.

Member-Hosted Dinners

Seasonally, up to ten Club members host 130+ members for small group dinners. The participating members are dispersed among the hosts’ homes and offices throughout the Washington Metro region. These gatherings, generally 10 to 20 members, provide an informal opportunity to participate in topic-driven discussion.

Member-Led Forums

Throughout the year, the Economic Club hosts member-led forums, which allow members the opportunity to connect in small, virtual settings. The forums are topic-driven, member-only, and off-the-record. Forums feature conversations on a wide range of industry, political, and personal topics relevant to current world events.

Education programs

The Economic Club of Washington, D.C. manages education programs that provide scholarships, internships, mentoring, alumni engagement, academic enrichment opportunities, and graduate-level fellowships to students who reside in DC and graduate from one of the participating Public or Public Charter schools.

The cornerstone of the education initiatives is the David M. Rubenstein/Economic Club of Washington, D.C. Scholarship, which is awarded to college-bound graduates of DC public and public charter high schools. Over 50 scholars each receive $20,000 to cover costs over four years of college, totaling around $1 million in scholarships per year. Now in its fifteenth year, this program, endowed by Rubenstein, has awarded nearly $11 million to 711 scholars.

The Economic Club also awards a one-time $10,000 Vernon E. Jordan, Jr. Fellowship Award to recipients of the David M. Rubenstein Scholarship to pursue a higher education across all academic disciplines. The Fellowship is based on demonstrated leadership, engagement in Economic Club activities, academic merit, history of community service and potential for the student’s graduate education to contribute to the community and to the overall goals of the Scholars to Leaders program.

References

External links

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501(c)(3) organizations
Non-profit organizations based in Washington, D.C.