REAL ESTATE COUNCIL INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- REAL ESTATE COUNCIL INC (EIN 75-2342376)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-10-29
- IRS object ID
- 202433039349301908
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-10-29T11:25:56-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 420714325 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RSM US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 19026 RIDGEWOOD PKWY STE 400 | AddressLine1Txt |
| City | SAN ANTONIO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78259 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 752342376 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE REAL ESTATE COUNCIL INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | REAL | BusinessNameControlTxt |
| Phone | 2146923603 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3100 MCKINNON STREET 1150 | AddressLine1Txt |
| City | DALLAS | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 752011104 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SUMMER LOVELAND | PersonNm |
| Person Title | CFO/COO | PersonTitleTxt |
| Phone | 2146923603 | PhoneNum |
| Signature | 2024-10-29 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | REBECCA A RODRIGUEZ | PreparerPersonNm |
| PTIN | P01073764 | PTIN |
| Phone | 2108286281 | PhoneNum |
| Preparation | 2024-10-29 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | SUMMER LOVELAND | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3100 MCKINNON STREET 1150 | AddressLine1Txt |
| City | DALLAS | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 752011104 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $1,704,598 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.RECOUNCIL.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1990 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | CULTIVATE RELATIONSHIPS IN THE COMMERCIAL REAL ESTATE INDUSTRY TO CATALYZE COMMUNITY INVESTMENT, INFLUENCE POLICY, PROPEL CAREERS AND DEVELOP THE LEADERS OF TOMORROW. | ActivityOrMissionDesc |
| Voting Members Governing Body | 51 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 51 | VotingMembersIndependentCnt |
| Total Employee | 12 | TotalEmployeeCnt |
| Total Volunteers | 187 | TotalVolunteersCnt |
| Total Gross UBI | $1,000 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $16,430 | PYContributionsGrantsAmt |
| CY Contributions Grants | $463 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $1,498,487 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $1,661,247 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,609 | PYInvestmentIncomeAmt |
| CY Investment Income | $39,754 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,185 | PYOtherRevenueAmt |
| CY Other Revenue | $1,000 | CYOtherRevenueAmt |
| PY Total Revenue | $1,517,711 | PYTotalRevenueAmt |
| CY Total Revenue | $1,702,464 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $809,759 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $902,056 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $769,215 | PYOtherExpensesAmt |
| CY Other Expenses | $828,340 | CYOtherExpensesAmt |
| PY Total Expenses | $1,578,974 | PYTotalExpensesAmt |
| CY Total Expenses | $1,730,396 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$61,263 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$27,932 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,467,361 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,346,957 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $658,596 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $566,125 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $808,765 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $780,832 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TREC'S MISSION IS TO CULTIVATE RELATIONSHIPS IN THE COMMERCIAL REAL ESTATE INDUSTRY TO CATALYZE COMMUNITY INVESTMENT, INFLUENCE POLICY, PROPEL CAREERS AND DEVELOP THE LEADERS OF TOMORROW.WE BELIEVE RELATIONSHIPS ARE THE LIFEBLOOD OF CAREER SUCCESS, CIVIC RESPONSIBILITY AND COMMUNITY INVESTMENT. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | TREC FOCUSES ON LEADERSHIP DEVELOPMENT OF THE NEXT GENERATION OF LEADERS AND EDUCATION OF OUR MEMBERS THROUGH EDUCATIONAL PROGRAMMING AS WELL AS NETWORKING OPPORTUNITIES. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | TREC ADVOCATES FOR PUBLIC POLICIES WHICH PROMOTE LONG-TERM ECONOMIC GROWTH AND VITALITY AS WELL AS QUALITY OF LIFE ACROSS THE REGION. WE ENGAGE IN POLICY ISSUES WHICH IMPACT THE COMMERCIAL REAL ESTATE INDUSTRY AND THE PUBLIC GOOD IN A SIGNIFICANT WAY TO BUILD THE CITY WE'VE IMAGINED. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | Yes (1) | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 2 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 12 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | Yes (1) | NondeductibleContributionsInd |
| Nondeductible Contri Discl | 0 | NondeductibleContriDisclInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 51 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 51 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SUMMER LOVELAND | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2146923603 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3100 MCKINNON STREET 1150 | AddressLine1Txt |
| City | DALLAS | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 752011104 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (56 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| TREY MORSBACH | ||||||||
| CHAIR | 3.00 | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| MIKE GEISLER | ||||||||
| CHAIR ELECT | 1.00 | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| MATT BRYARLY | ||||||||
| TREASURER | 0.50 | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JOHN ADOLPH | ||||||||
| SECRETARY | 0.50 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| KIM BUTLER | ||||||||
| PAST CHAIRMAN | 0.50 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| ALEX JOHN | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| ALLISON FRIZZO | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| JUSTIN GOERTZ | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| BEN BREWER | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| HECTOR SANCHEZ | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| BRIAN HEFLIN | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| CHAD COOK | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| CHRIS MCCLUSKEY | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| CRAIG WILSON | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| DANIEL TAYLOR | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| RICK PERDUE | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| ERIC KRUEGER | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| FRANK MIHALOPOULOS | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| HOLDEN LUNSFORD | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| JAMES RAY | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| STAN MULLIKIN | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| JEFF MATTHEWS | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| JEFF MONTGOMERY | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| JOSEPH CAHOON | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| JOSHUA MILLSAP | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| KATHY PERMENTER | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| KATY SLADE | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| JOHN BAILEY | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| LYNN DOWDLE | ||||||||
| BOARD MEMBER | 0.50 | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MARK DRUMM | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| MARSHAL HESS | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| MATT HUDNALL | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| MATTYE JONES | ||||||||
| BOARD MEMBER | 0.25 | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DARCY BARNES | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL ALOST | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL OSWALD | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| DOUG JONES | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| JAIME KELLEY | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| SCOTT ROHRMAN | ||||||||
| BOARD MEMBER | 0.50 | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| STEVE ALDRICH | ||||||||
| BOARD MEMBER | 0.50 | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| STEVE MODORY | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| KENNAN KOLENDO | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| KRIS LOWE | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| TERRY SYLER | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| TOMMY MANN | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| TORREY LITTLEJOHN | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| WILL HENDRICKSON | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| WILLIAM BROKAW | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| WILLIAM CAVANAUGH | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL BLACKWELL | ||||||||
| BOARD MEMBER | 0.50 | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TIM DISMOND | ||||||||
| BOARD MEMBER | 0.25 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| LINDA MCMAHON | ||||||||
| CEO/PRESIDENT | 12.00 | 28.00 | Yes (X) | $144,623 | $337,454 | $16,320 | ||
| SUMMER LOVELAND | ||||||||
| CFO/COO | 12.00 | 28.00 | Yes (X) | $76,265 | $177,954 | $18,989 | ||
| AMY STOVALL | ||||||||
| SENIOR DIRECTOR | 13.00 | 27.00 | $35,114 | $70,229 | $25,776 | Yes (X) | ||
| JENNIFER SCHMIEL | ||||||||
| SENIOR DIRECTOR | 40.00 | 0.00 | $180,138 | $0 | $6,230 | Yes (X) | ||
| NEBIAT WODERE | ||||||||
| CONTROLLER | 18.00 | 22.00 | $47,269 | $57,773 | $9,930 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $483,409 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $643,410 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $77,245 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 2 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $463 | AllOtherContributionsAmt |
| Total Contributions | $463 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| MEMBERSHIP DUES | 812900 | $1,177,900 | $1,177,900 |
| PROFESSIONAL DEVELOPME | 812900 | $477,113 | $477,113 |
| MANAGEMENT FEES | 812900 | $6,234 | $6,234 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $1,661,247 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $41,888 | TotalRevenueColumnAmt |
| Exclusion | $41,888 | ExclusionAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $2,134 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -$2,134 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$2,134 | TotalRevenueColumnAmt |
| Exclusion | -$2,134 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | AD SPONORSHIPS | Desc |
| Business | 990099 | BusinessCd |
| Total Revenue Column | $1,000 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $1,000 | UnrelatedBusinessRevenueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,000 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,702,464 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,661,247 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $1,000 | UnrelatedBusinessRevenueAmt |
| Exclusion | $39,754 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $231,481 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $568,806 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,365 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $34,371 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $56,033 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $265,786 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,903 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,000 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $88,000 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,358 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,456 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,465 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,330 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $317,375 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,667 | TotalAmt |
Other Expenses OtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | STRATEGIC INITIATIVES | Desc |
| Total | $15,000 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,730,396 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $299,919 | BOYAmt |
| EOY | $100,344 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $896,315 | BOYAmt |
| EOY | $1,089,603 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $369 | BOYAmt |
| EOY | $398 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,235 | BOYAmt |
| EOY | $14,964 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $396,630 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $258,028 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $179,403 | BOYAmt |
| EOY | $138,602 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $59,120 | BOYAmt |
| EOY | $3,046 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,467,361 | BOYAmt |
| EOY | $1,346,957 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $118,985 | BOYAmt |
| EOY | $50,003 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $290,025 | BOYAmt |
| EOY | $485,540 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $249,586 | BOYAmt |
| EOY | $30,582 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $658,596 | BOYAmt |
| EOY | $566,125 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $808,765 | BOYAmt |
| EOY | $780,832 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $808,765 | BOYAmt |
| EOY | $780,832 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,467,361 | BOYAmt |
| EOY | $1,346,957 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$27,932 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | Yes (1) | AccountantCompileOrReviewInd |
Acct Compile Or Review Basis AcctCompileOrReviewBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| FS Audited | 0 | FSAuditedInd |
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantially All Dues Nonded | Yes (1) | SubstantiallyAllDuesNondedInd |
| Only In House Lobbying | 0 | OnlyInHouseLobbyingInd |
| Agree Carryover Prior Year | 0 | AgreeCarryoverPriorYearInd |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $99,837 | OtherCostOrOtherBasisAmt |
| Depreciation | $97,699 | DepreciationAmt |
| Book Value | $2,138 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $82,048 | OtherCostOrOtherBasisAmt |
| Depreciation | $66,678 | DepreciationAmt |
| Book Value | $15,370 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $214,745 | OtherCostOrOtherBasisAmt |
| Depreciation | $93,651 | DepreciationAmt |
| Book Value | $121,094 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $138,602 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INTERCOMPANY DUE TO/FROM | Desc |
| Amt | $30,582 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $30,582 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | TREC IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE AND HAS BEEN DETERMINED TO BE AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR INCOME OR EXCISE TAX HAS BEEN MADE. HOWEVER, SHOULD TREC ENGAGE IN ACTIVITIES UNRELATED TO THE PURPOSE FOR WHICH IT WAS CREATED, TAXABLE INCOME COULD RESULT. TREC DID NOT INCUR ANY FEDERAL INCOME TAX FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. TAX POSITIONS TAKEN RELATED TO TREC'S TAX EXEMPT STATUS, UNRELATED BUSINESS ACTIVITIES TAXABLE INCOME AND DEDUCTIBILITY OF EXPENSES AND OTHER MISCELLANEOUS TAX POSITIONS HAVE BEEN REVIEWED, AND MANAGEMENT IS OF THE OPINION THAT MATERIAL POSITIONS TAKEN WOULD MORE LIKELY THAN NOT BE SUSTAINED BY EXAMINATION. ACCORDINGLY, TREC HAS NOT RECORDED AN INCOME TAX LIABILITY FOR UNCERTAIN TAX POSITIONS. FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022, THERE WERE NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (3 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LINDA MCMAHON | ||||||||||||||
| CEO/PRESIDENT | $112,792 | $263,181 | $31,647 | $73,843 | $184 | $430 | $4,380 | $10,219 | $516 | $1,205 | $149,519 | $348,878 | $0 | $0 |
| SUMMER LOVELAND | ||||||||||||||
| CFO/COO | $60,474 | $141,107 | $15,750 | $36,750 | $41 | $97 | $2,054 | $4,794 | $3,642 | $8,499 | $81,961 | $191,247 | $0 | $0 |
| JENNIFER SCHMIEL | ||||||||||||||
| SENIOR DIRECTOR | $170,000 | $0 | $10,000 | $0 | $138 | $0 | $5,104 | $0 | $1,126 | $0 | $186,368 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART I, LINE 6, VOLUNTEERS: | THE REAL ESTATE COUNCIL, INC. (TREC) UTILIZES VOLUNTEERS TO SERVE ON THE BOARD OF DIRECTORS; TO OVERSEE COMMITTEES; AND TO ASSIST WITH ALL OPERATIONS OF THE TRADE ASSOCIATION. VOLUNTEERS ASSIST WITH ALL PROGRAMS AND EVENTS. |
| FORM 990, PART VI, SECTION A, LINE 1A | THE CHAIRPERSON, CHAIRPERSON-ELECT, SECRETARY, TREASURER, AND THE IMMEDIATE PAST-CHAIRPERSON, AND ANY DIRECTORS SO DESIGNATED BY THE CHAIRPERSON SHALL CONSTITUTE THE EXECUTIVE COMMITTEE. THE PRESIDENT SHALL BE A NON-VOTING MEMBER OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE MAY HOLD MEETINGS AT SUCH TIME AND PLACE AS THE CHAIRPERSON OR A MAJORITY OF THE VOTING MEMBERS OF THE EXECUTIVE COMMITTEE SHALL DETERMINE. THE CHAIRPERSON SHALL PRESIDE AT ALL MEETINGS OF THE EXECUTIVE COMMITTEE. IN HIS OR HER ABSENCE, THE CHAIRPERSON-ELECT SHALL PRESIDE AT SUCH MEETINGS. THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE ALL OF THE POWERS GRANTED TO THE BOARD OF DIRECTORS OF A TEXAS NON-PROFIT CORPORATION. FOR THE AVOIDANCE OF DOUBT, ANY POWERS TO ACT GRANTED TO THE BOARD UNDER THE TEXAS BUSINESS ORGANIZATIONS CODE (TBOC) AND OTHER APPLICABLE LAW SHALL BE VESTED IN THE EXECUTIVE COMMITTEE UNLESS THE EXECUTIVE COMMITTEE EXPRESSLY DELEGATES SUCH POWERS TO THE BOARD PURSUANT TO A RESOLUTION ADOPTED BY A MAJORITY OF THE EXECUTIVE COMMITTEE. |
| FORM 990, PART VI, SECTION A, LINE 4 | THE BYLAWS WERE AMENDED AS IT RELATES TO GENERAL BUSINESS LANGUAGE UPDATES, THE MAXIMUM NUMBER OF BOARD MEMBERS, SIGNING AUTHORITY, AND PROXY VOTING IMPACT ON QUORUM. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION HAS MEMBERS, BUT NO STOCKHOLDERS. AS A 501C6, IT IS A MEMBERSHIP ORGANIZATION, FOCUSED ON THE COMMERCIAL REAL ESTATE INDUSTRY WITHIN DALLAS AND COLLIN COUNTIES. |
| FORM 990, PART VI, SECTION A, LINE 8B | THERE ARE NO COMMITTEES WHO ARE AUTHORIZED TO ACT ON BEHALF OF THE BOARD. |
| FORM 990, PART VI, SECTION B, LINE 11B | A THOROUGH REVIEW IS PERFORMED BY THE CFO. AFTER ALL EDITS HAVE BEEN INCORPORATED IN THE RETURN, THE FINAL COPY IS PROVIDED TO THE CEO FOR REVIEW AND APPROVAL. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE PURPOSE OF THE CONFLICT OF INTEREST POLICY (THE "POLICY") IS TO PROTECT THE INTERESTS OF THE CORPORATION, WHEN IT IS CONTEMPLATING ENTERING INTO A TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTEREST OF AN OFFICER, DIRECTOR OR COMMITTEE MEMBER OF THE CORPORATION OR MIGHT RESULT IN A POSSIBLE EXCESS BENEFIT TRANSACTION. THIS POLICY IS INTENDED TO SUPPLEMENT, BUT NOT REPLACE ANY APPLICABLE STATE AND FEDERAL LAWS GOVERNING CONFLICTS OF INTEREST APPLICABLE TO NONPROFIT AND CHARITABLE ORGANIZATIONS. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WHO ARE CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, THE INTERESTED PERSON SHALL LEAVE THE BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING DIRECTORS OR COMMITTEE MEMBERS, AS THE CASE MAY BE, SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. ANY INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, THE INTERESTED PERSON IS ASKED TO LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE CHAIRPERSON OF THE BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE CORPORATION OR RELEVANT COMMITTEE CAN OBTAIN WITH REASONABLE EFFORTS, A MORE ADVANTAGEOUS TRANSACTION OR ARRANGMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS OR COMMITTEE MEMBERS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE CORPORATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION, THE DISINTERESTED DIRECTORS OR COMMITTEE MEMBERS SHALL MAKE THE DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION FOR THE TOP MANAGEMENT OFFICIALS IS APPROVED BY AN INDEPENDENT COMPENSATION COMMITTEE. THE COMPENSATION IS COMPARED TO EXECUTIVE COMPENSATION BY REVIEWING COMPARABILITY DATA OF SIMILAR ORGANIZATIONS. THE APPROVAL OF THE TOP MANAGEMENT OFFICIAL'S COMPENSATION IS DOCUMENTED IN EMAIL CORRESPONDENCE AMONG THE COMPENSATION COMMITTEE. THE COMPENSATION OF ALL OTHER STAFF, INCLUDING OFFICERS WHO ARE EMPLOYEES, IS REVIEWED BY THE COMPENSATION COMMITTEE BASED ON RECOMMENDATION BY THE CEO. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, GOVERNING DOCUMENTS, AND FORM 990 ARE MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Controlled OrganizationControlledOrganizationInd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|---|
| TREC COMMUNITY INVESTORS | ||||||||||
| 3100 MCKINNON STREET 1150 | DALLAS | TX | 75201 | 800718545 | ECONOMIC DEVELOPMENT | TX | 501(C)(3) | LINE 7 | 0 | |
| THE REAL ESTATE COUNCIL POLITICAL ACTION COMMITTEE | ||||||||||
| 3100 MCKINNON STREET 1150 | DALLAS | TX | 75201 | 043590401 | CAMPAIGN SUPPORT | TX | 527 | N/A | 0 | |
| TREC SPECIAL EVENTS INC | ||||||||||
| 3100 MCKINNON STREET 1150 | DALLAS | TX | 75201 | 464671936 | SPECIAL EVENT | TX | 501(C)(3) | LINE 12A, I | Yes (1) | TREC COMMUNITY INVESTORS |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | Yes (1) | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | Yes (1) | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | Yes (1) | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (9 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| TREC COMMUNITY INVESTORS | ||
| O | $784,945 | FMV |
| TREC SPECIAL EVENTS INC | ||
| O | $338,680 | FMV |
| TREC COMMUNITY INVESTORS | ||
| P | $440,168 | FMV |
| TREC COMMUNITY INVESTORS | ||
| Q | $277,094 | FMV |
| TREC SPECIAL EVENTS INC | ||
| Q | $522,028 | FMV |
| TREC COMMUNITY INVESTORS | ||
| R | $633,264 | FMV |
| TREC SPECIAL EVENTS INC | ||
| R | $212,070 | FMV |
| TREC COMMUNITY INVESTORS | ||
| S | $355,240 | FMV |
| TREC SPECIAL EVENTS INC | ||
| S | $1,073,281 | FMV |