Michael Peregrine was quoted in a December 24, 2007 article in Crain’s Chicago Business in an article regarding the undisclosed compensation of Kaarina Koskenalusta, the head of the prosperous non-profit, Executive's Club of Chicago. "The IRS requires disclosure to be sure tax-exempt status doesn't result in excess pay. In this environment, boards have to be super-sensitive. You have to avoid the inference you're hiding excessive compensation," Mr. Peregrine said.