2022-11-15T14:09:53-06:00 2021-12-31 420714325 RSM US LLP 19026 RIDGEWOOD PKWY STE 400 SAN ANTONIO TX 78259 990 2021-01-01 800718545 TREC COMMUNITY INVESTORS TREC 2146923603 3100 MCKINNON STREET 1150 DALLAS TX 752011104 LINDA MCMAHON CEO/PRESIDENT 2146923603 2022-11-15 1 LINDA MCMAHON 999009999 REBECCA A RODRIGUEZ P01073764 2108286281 2022-11-15 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z LINDA MCMAHON 3100 MCKINNON STREET 1150 DALLAS TX 752011104 2221268 0 X HTTPS://TRECCOMMUNITYINVESTORS.ORG/ X 2011 TX TREC COMMUNITY INVESTORS JOINS FORCES WITH UNDERSERVED COMMUNITIES TO INVEST IN THE DISINVESTED, ENERGIZE NEIGHBORHOODS, AND CHANGE LIVES. THROUGH ACCESS TO FLEXIBLE CAPITAL AND REAL ESTATE EXPERTISE, WE MAKE AN UNWAVERING COMMITMENT TO BUILD A LASTING IMPACT IN THE COMMUNITIES WE SERVE. 52 52 6 163 0 0 2504914 1880598 117988 126412 0 182429 0 31717 2622902 2221156 0 147456 0 0 334478 882591 0 0 78612 233593 618392 568071 1648439 2054831 572717 11220097 12217217 3368871 3316328 7851226 8900889 X TREC COMMUNITY INVESTORS JOINS FORCES WITH UNDERSERVED COMMUNITIES TO INVEST IN THE DISINVESTED, ENERGIZE NEIGHBORHOODS, AND CHANGE LIVES. THROUGH ACCESS TO FLEXIBLE CAPITAL AND REAL ESTATE EXPERTISE, WE MAKE AN UNWAVERING COMMITMENT TO BUILD A LASTING IMPACT IN THE COMMUNITIES WE SERVE. 0 0 1179697 70000 126412 NEIGHBORHOOD REVITALIZATION: TREC CI PARTNERS WITH OTHER COMMUNITY ORGANIZATIONS TO FOCUS ON JOB AND WEALTH CREATION AND COMMUNITY OWNERSHIP AND LEADERSHIP OPPORTUNITIES IN NEIGHBORHOODS THAT ARE MOST VULNERABLE TO RAPID ECONOMIC TRANSITION. 145900 52456 HOUSING: TREC CI HAS A SIGNIFICANT ROLE IN THE CREATION OF AN AFFORDABLE HOUSING FUND TO PROVIDE FOR LAND ACQUISITION AND HOUSING CONSTRUCTION/REHABILITATION FOR VULNERABLE NEIGHBORHOODS; PROVIDES FUNDING FOR HOME IMPROVEMENT PROJECTS; PROVIDES PROFESSIONAL SERVICES AND VOLUNTEER SUPPORT AS WELL AS GRANTS FOR REHABILITATION PROJECTS, AND PLAYS A ROLE IN THE ESTABLISHMENT OF A COMMUNITY LAND TRUST. 118450 25000 EDUCATION: TREC CI OFFERS TARGETED LEARNING OPPORTUNITIES FOR THOSE IN THE COMMUNITY WHO WANT TO EXPAND THEIR KNOWLEDGE OF REAL ESTATE. PARTICIPANTS ARE SELECTED THROUGH AN APPLICATION PROCESS. 1444047 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 16 0 1 6 1 0 0 0 0 0 0 0 0 0 0 0 0 X 52 52 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X SUMMER LOVELAND 2146923603 3100 MCKINNON STREET 1150 DALLAS TX 752011104 DENISE MASON CHAIRMAN 1.00 0.50 X X 0 0 0 CHASE STONE VICE CHAIRMAN 1.00 0.00 X X 0 0 0 KEENAN KOLANDO SECRETARY 1.00 0.00 X X 0 0 0 DUSTY SCHULTZ TREASURER 1.00 0.00 X X 0 0 0 AARON ECHOLS BOARD MEMBER 0.50 0.00 X 0 0 0 ACE ROMAN BOARD MEMBER 0.50 0.00 X 0 0 0 ALLISON HUBBARD BOARD MEMBER 0.50 0.00 X 0 0 0 ANDREW BOTTS BOARD MEMBER 0.50 0.00 X 0 0 0 BRIAN DRIESSE BOARD MEMBER 0.50 0.00 X 0 0 0 BRIAN NEITZEL BOARD MEMBER 0.50 0.00 X 0 0 0 BRICE HAFNER BOARD MEMBER 0.50 0.00 X 0 0 0 CAMPBELL ROCHE BOARD MEMBER 0.50 0.00 X 0 0 0 CATHY JANKE BOARD MEMBER 0.50 0.00 X 0 0 0 CHAD CROZIER BOARD MEMBER 0.50 0.00 X 0 0 0 CHASE EVANS BOARD MEMBER 0.50 0.00 X 0 0 0 CRAIG WILSON BOARD MEMBER 0.50 0.00 X 0 0 0 DAVID ESEKE BOARD MEMBER 0.50 0.00 X 0 0 0 DAVID FAZIO BOARD MEMBER 0.50 0.00 X 0 0 0 EDWARD SPOONER BOARD MEMBER 0.50 0.00 X 0 0 0 ELIAS BAHAR BOARD MEMBER 0.50 0.00 X 0 0 0 ELIZABETH SOLENDER BOARD MEMBER 0.50 0.00 X 0 0 0 GREG KRAUS BOARD MEMBER 0.50 0.00 X 0 0 0 IAN FAIRCHILD BOARD MEMBER 0.50 0.00 X 0 0 0 J SCOTT RODGERS BOARD MEMBER 0.50 0.00 X 0 0 0 J SCOTT SARGENT BOARD MEMBER 0.50 0.00 X 0 0 0 JASON HAUN BOARD MEMBER 0.50 0.00 X 0 0 0 JASON WEEKS BOARD MEMBER 0.50 0.00 X 0 0 0 JEFF CARTER BOARD MEMBER 0.50 0.00 X 0 0 0 JOEL SCHUBERT BOARD MEMBER 0.50 0.00 X 0 0 0 JOHN ADOLPH BOARD MEMBER 0.50 0.00 X 0 0 0 JOHN RIGGINS BOARD MEMBER 0.50 0.00 X 0 0 0 JOSH WHITE BOARD MEMBER 0.50 0.00 X 0 0 0 KATIE MORROW BOARD MEMBER 0.50 0.00 X 0 0 0 KIM BUTLER BOARD MEMBER 0.50 0.00 X 0 0 0 KIMBERLY BRYUM BOARD MEMBER 0.50 0.00 X 0 0 0 LESLEY MCCASLIN BOARD MEMBER 0.50 0.00 X 0 0 0 LINDSAY MEGEE BOARD MEMBER 0.50 0.00 X 0 0 0 MARIJKE LANTZ FLOWERS BOARD MEMBER 0.50 0.00 X 0 0 0 MARSHALL HESS BOARD MEMBER 0.50 0.00 X 0 0 0 MATT BRYARLY BOARD MEMBER 0.50 0.00 X 0 0 0 MATT WILSON BOARD MEMBER 0.50 0.00 X 0 0 0 MATTHEW SHEM BOARD MEMBER 0.50 0.00 X 0 0 0 MICHAEL BLACKWELL BOARD MEMBER 0.50 0.00 X 0 0 0 MIKE GEISLER BOARD MEMBER 0.50 0.00 X 0 0 0 PATRICK RAMSIER BOARD MEMBER 0.50 0.00 X 0 0 0 ROBERT ACUNA-PILGRIM BOARD MEMBER 0.50 0.00 X 0 0 0 SAM PECK BOARD MEMBER 0.50 0.00 X 0 0 0 SHANE BOWEN BOARD MEMBER 0.50 0.00 X 0 0 0 STEPHANIE LAUGHLIN BOARD MEMBER 0.50 0.00 X 0 0 0 SUZAN KEDRON BOARD MEMBER 0.50 0.00 X 0 0 0 TAYLOR DICKERSON BOARD MEMBER 0.50 0.00 X 0 0 0 TRIPP RUSS BOARD MEMBER 0.50 0.00 X 0 0 0 CARLA BRANDT CFO (THRU 6/30/21) 10.00 30.00 X 19354 45161 2473 SUMMER LOVELAND CFO 14.00 26.00 X 32456 75733 6401 LINDA MCMAHON CEO/PRESIDENT 10.00 30.00 X 78597 314385 19633 FELICIA PIERSON SR. DIRECTOR 36.00 4.00 X 102386 5389 10474 232793 440668 38981 1 0 1 0 0 452956 51187 1376455 11887 1880598 LOAN REVENUE 522291 126412 126412 126412 7540 7540 175001 0 112 175001 -112 174889 174889 OTHER INCOME 990009 31717 31717 31717 2221156 126412 0 214146 147456 147456 136997 119187 10960 6850 639013 555941 51121 31951 19183 16689 1535 959 32226 28037 2578 1611 55172 47999 4414 2759 4 3 1 37840 32921 3027 1892 112364 97757 8989 5618 42112 36637 3369 2106 30479 26517 2438 1524 74248 64596 5940 3712 85136 74068 6811 4257 696 606 56 34 42433 36917 3395 2121 32680 28432 2614 1634 26839 23350 2147 1342 9665 8409 773 483 STRATEGIC INITIATIVES 183297 159471 14661 9165 IN KIND EXPENSES 11887 10342 951 594 PROVISION FOR LOAN LOSS -71288 -71288 1648439 1444047 125780 78612 940168 328693 3372306 7030196 2415375 22500 1873508 1341646 56236 76886 293559 238752 78506 54807 2426703 3078730 57295 283759 11220097 12217217 52110 64081 2191357 1557872 378 623472 1125026 323637 0 747266 3368871 3316328 X 2429514 4300768 5421712 4600121 7851226 8900889 11220097 12217217 572717 476946 0 X 0 1 X 1 0 X 229400 1198790 361343 265739 1880598 3935870 229400 1198790 361343 265739 1880598 3935870 1559055 2376815 0 0 0 0 7540 7540 155117 31717 186834 4130244 551698 0.57550 0.50200 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SPECIAL EVENT REVENUE - 2017 AMOUNT: $ 154,736. OTHER REVENUE - 2017 AMOUNT: $ 381. 2021 AMOUNT: $ 31,717. SCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS: DESCRIPTION: UNUSUAL GRANT DATE: 12/31/19 AMOUNT: 6000000. DESCRIPTION: MERGER DATE: 12/31/20 AMOUNT: 2239175. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 118476 94636 23840 40477 35672 4805 134606 108444 26162 54807 LINE OF CREDIT 747266 747266 X 2809744 476946 111642 588588 2221156 0 2221156 1760081 111642 111642 1648439 0 1648439 PART X, LINE 2: TREC CI IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME OR EXCISE TAX HAS BEEN MADE. HOWEVER, SHOULD TREC CI ENGAGE IN ACTIVITIES UNRELATED TO THE PURPOSE FOR WHICH IT WAS CREATED, TAXABLE INCOME COULD RESULT. TREC CI DID NOT INCUR ANY FEDERAL INCOME TAX FOR THE YEAR ENDED DECEMBER 31, 2021. MANAGEMENT EVALUATES TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE-LIKELY-THAN-NOT" OF BEING SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS A TAX BENEFIT OR EXPENSE AND ASSET OR LIABILITY IN THE CURRENT YEAR. MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN INCOME TAX POSITIONS FOR THE YEARS ENDING 2021. TAX POSITIONS TAKEN RELATED TO TREC CI'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 CI HAS NOT RECORDED AN INCOME TAX LIABILITY FOR UNCERTAIN TAX POSITIONS. FOR THE YEARS ENDED DECEMBER 31, 2021, THERE WERE NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. 1 CORNERSTONE COMMUNITY DEVELOPMENT CORPORATION 1819 MARTIN L KING JR BLVD DALLAS TX 75215 752623357 501(C)(3) 70000 0 GENERAL SUPPORT ST PHILIPS SCHOOL AND COMMUNITY CENTER 1600 PENNSYLVANIA AVE DALLAS TX 75125 751097360 501(C)(3) 52456 0 GENERAL SUPPORT SCHOLARSHOT 2904 SWISS AVE DALLAS TX 75204 270232250 501(C)(3) 25000 0 GENERAL SUPPORT 3 PART I, LINE 2: WE HAVE GRANT REPORTING WHICH IS PROVIDED TO US BY THE GRANTEE, IDENTIFYING USE OF THE FUNDS AND OUTCOME OF THE PROJECT FOR WHICH THE FUNDS WERE USED. THIS INCLUDES IDENTIFYING OTHER SOURCES OF FUNDS THEY HAVE RECEIVED. 0 0 0 0 0 0 0 0 0 LINDA MCMAHON CEO/PRESIDENT 58551 234202 20000 80000 46 183 2401 9605 1525 6102 82523 330092 0 0 PART I, LINE 3 THE COMPENSATION FOR LINDA MCMAHON, CEO, IS APPROVED BY AN INDEPENDENT COMPENSATION COMMITTEE FROM A RELATED ORGANIZATION. HER COMPENSATION IS COMPARED TO EXECUTIVE COMPENSATION BY REVIEWING COMPARABILITY DATA OF SIMILAR ORGANIZATIONS. THE APPROVAL OF LINDA'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 I, LINE 6, VOLUNTEERS: TREC COMMUNITY INVESTORS (TREC CI) UTILIZES VOLUNTEERS TO SERVE ON THE BOARD OF DIRECTORS, TO OVERSEE COMMITTEES. VOLUNTEERS ASSIST WITH ALL PROGRAMS AND EVENTS. 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 TREC CI FOLLOWS A CONFLICT OF INTEREST POLICY. THE PURPOSE OF THE CONFLICT OF INTEREST POLICY (THE "POLICY") IS TO PROTECT THE INTERESTS OF THE FUND, 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 FUND OR MIGHT RESULT IN A POSSIBLE EXCESS BENEFIT TRANSACTION. THE 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. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, THE INTERESTED PERSON SHALL 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 ARRANGEMENT 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 LINDA MCMAHON, CEO, IS APPROVED BY AN INDEPENDENT COMPENSATION COMMITTEE FROM A RELATED ORGANIZATION. HER COMPENSATION IS COMPARED TO EXECUTIVE COMPENSATION BY REVIEWING COMPARABILITY DATA OF SIMILAR ORGANIZATIONS. THE APPROVAL OF LINDA'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. THE REAL ESTATE COUNCIL INC 3100 MCKINNON STREET ST 1150 DALLAS TX 75201 752342376 REAL ESTATE SUPPORT TX 501(C)(6) N/A N/A 0 THE REAL ESTATE COUNCIL POLITICAL ACTION COMMITTEE 3100 MCKINNON STREET ST 1150 DALLAS TX 75201 043590401 CAMPAIGN SUPPORT TX 527 N/A TREC 0 TREC SPECIAL EVENTS INC 3100 MCKINNON STREET ST 1150 DALLAS TX 75201 464671936 SPECIAL EVENT TX 501(C)(3) LINE 12A, I TREC COMMUNITY INVESTORS 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 TREC SPECIAL EVENTS INC C 452956 FMV THE REAL ESTATE COUNCIL INC E 118005 FMV TREC SPECIAL EVENTS INC D 401764 FMV THE REAL ESTATE COUNCIL INC O 498824 FMV THE REAL ESTATE COUNCIL INC P 156413 FMV