2021-11-15T09:32:29-06:00 2020-12-31 420714325 RSM US LLP 19026 RIDGEWOOD PKWY STE 400 SAN ANTONIO TX 78259 990 2020-01-01 800718545 TREC COMMUNITY INVESTORS FKA THE REAL ESTATE COUNCIL COMM FUND TREC 2146923603 3100 MCKINNON STREET NO 1150 DALLAS TX 752011104 LINDA MCMAHON CEO/PRESIDENT 2146923603 2021-11-12 1 LINDA MCMAHON 999009999 JOSEPHINE BEHREND P00715390 2108286281 2021-11-12 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z X LINDA MCMAHON 3100 MCKINNON STREET NO 1150 DALLAS TX 752011104 2622902 0 X WWW.RECOUNCIL.COM X 2011 TX TO PROMOTE ECONOMIC JUSTICE BY PROVIDING LOANS AND TECHNICAL ASSISTANCE TO NONPROFIT ORGANIZATIONS AND FOR-PROFIT DEVELOPERS THAT SERVE LOW AND VERY LOW INCOME INDIVIDUALS. 27 27 4 265 0 0 6361343 2504914 104607 117988 0 0 0 0 6465950 2622902 1604000 0 0 0 217763 334478 0 0 15014 527814 233593 2349577 568071 4116373 2054831 7760664 11220097 1964269 3368871 5796395 7851226 X TO PROMOTE ECONOMIC JUSTICE BY PROVIDING LOANS AND TECHNICAL ASSISTANCE TO NONPROFIT ORGANIZATIONS AND FOR PROFIT DEVELOPERS THAT SERVE LOW AND VERY LOW INCOME INDIVIDUALS, SPECIFICALLY IN THOSE AREAS WITH A POVERTY RATE OF AT LEAST 20%, AN UNEMPLOYMENT RATE 1.5 TIMES HIGHER THAN THE NATIONAL AVERAGE OR A MEDIAN FAMILY INCOME (MFI) AT OR BELOW 80% OF THE METROPOLITAN OR NATIONAL METROPOLITAN MFI. THE FUND AGGREGATES CAPITAL FROM INDIVIDUALS AND INSTITUTIONAL SOCIAL INVESTORS AND LENDS TO NONPROFITS AND FOR-PROFITS FOR HOUSING, COMMUNITY FACILITIES, COMMERCIAL PROPERTIES, LAND ACQUISITION, PRE-DEVELOPMENT AND OTHER COMMUNITY DEVELOPMENT COMMERCIAL PROJECTS. 0 0 248850 PRO NEIGHBORHOODS INITIATIVE: THIS PROGRAM PROVIDES COMMUNITIES WITH THE CAPITAL AND TOOLS THEY NEED TO SUPPORT LOCALLY-DRIVEN SOLUTIONS AND ADDRESS KEY DRIVERS OF INEQUALITY IN THE DALLAS AREA. EQUITABLE INFASTRUCTURE IS DEVELOPED TO EXPEDITE AND EXPAND EXISITING EFFORTS IN HOUSING AFFORDABILITY, SMALL BUSINESS AND WORKFORCE TRAINING, AND BUILDING THE CAPACITY OF COMMUNITY BASED ORGANIZATIONS. THE PROGRAM IMPLEMENTS THE FOLLOWING STRATEGIES:1. INCREASING JOB AND WEALTH CREATION OPPORTUNITIES2. CREATING AND PROTECTING HOUSING AND COMMERCIAL REAL ESTATE3. DEVELOPING COMMUNITY LEADERSHIP 271675 117988 TO PROMOTE ECONOMIC JUSTICE BY PROVIDING LOANS AND TECHNICAL ASSISTANCE TO NONPROFIT ORGANIZATIONS AND FOR-PROFIT DEVELOPERS THAT SERVE LOW AND VERY LOW INCOME INDIVIDUALS. 520525 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 2 0 1 4 1 0 0 0 0 0 0 0 0 0 0 0 0 X 27 27 0 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X NEBIAT WODERE 2146923603 3100 MCKINNON STREET NO 1150 DALLAS TX 752011104 SUZAN KEDRON SECRETARY 1.00 0.00 X X 0 0 0 BRICE HAFNER PROFESSIONAL SERVICES VICE CHAIR 1.00 0.00 X 0 0 0 DARCY BARNES TREASURER 1.00 0.00 X X 0 0 0 DENISE MASON VICE CHAIRMAN 1.00 0.00 X X 0 0 0 JEFF KOCHER CHAIRMAN 1.00 1.00 X X 0 0 0 MARIJKE LANTZ FLOWERS BOARD MEMBER 0.50 0.00 X 0 0 0 JJ PONCE BOARD MEMBER 0.50 0.00 X 0 0 0 KATIE MORROW BOARD MEMBER 0.50 0.00 X 0 0 0 KEN SMITH BOARD MEMBER 0.50 0.00 X 0 0 0 TAYLOR TOYNES BOARD MEMBER 0.50 0.00 X 0 0 0 MATT WILSON BOARD MEMBER 0.50 0.00 X 0 0 0 PATRICK RAMSIER BOARD MEMBER 0.50 0.00 X 0 0 0 ROY LOPEZ BOARD MEMBER 0.50 0.00 X 0 0 0 TILLIE BORCHERS BOARD MEMBER 0.50 0.00 X 0 0 0 JASON HAUN BOARD MEMBER 0.50 0.00 X 0 0 0 DIANE CHAVEZ BOARD MEMBER 0.50 0.00 X 0 0 0 FROSWA' BOOKER-DREW BOARD MEMBER 0.50 0.00 X 0 0 0 GREG KRAUS BOARD MEMBER 0.50 0.00 X 0 0 0 TROY DANIEL BOARD MEMBER 0.50 0.00 X 0 0 0 DUSTIN DULIN BOARD MEMBER 0.50 0.00 X 0 0 0 DERRIC HICKS BOARD MEMBER 0.50 0.00 X 0 0 0 DAVID LYNCH BOARD MEMBER 0.50 0.00 X 0 0 0 DAVID ESEKE BOARD MEMBER 0.50 0.00 X 0 0 0 ELIZABETH SOLENDER BOARD MEMBER 0.50 0.00 X 0 0 0 CHASE A STONE BOARD MEMBER 0.50 0.00 X 0 0 0 CHAD CROZIER BOARD MEMBER 0.50 0.00 X 0 0 0 BRIAN DRIESSE BOARD MEMBER 0.50 0.00 X 0 0 0 CARLA BRANDT CFO 10.00 30.00 X 11526 34577 5077 LINDA MCMAHON CEO/PRESIDENT 10.00 30.00 X 29359 264231 16233 PATRICIA ADDINGTON CDO 28.00 12.00 X 91711 39305 4726 FELICIA PIERSON SR DIRECTOR 20.00 20.00 X 65029 65029 10652 197625 403142 36688 0 0 1 0 0 2239175 265739 2504914 LOAN REVENUE 522291 117988 117988 117988 2622902 117988 0 0 43777 42960 559 258 243878 239326 3115 1437 6637 5376 863 398 18085 14649 2351 1085 22101 17902 2873 1326 29193 23646 3795 1752 8090 6553 1052 485 19517 15809 2537 1171 11194 9067 1455 672 31483 25501 4093 1889 45029 36473 5854 2702 740 600 96 44 17456 14140 2269 1047 9498 7693 1235 570 1402 1136 182 84 1562 1265 203 94 PROVISION FOR LOAN LOSS 58429 58429 568071 520525 32532 15014 4275965 940168 0 3372306 2522250 2415375 946946 1873508 14542 56236 314341 235835 961 78506 0 2426703 0 57295 7760664 11220097 1405 52110 1604000 2191357 0 378 34980 0 323644 1125026 240 0 1964269 3368871 X 374683 2429514 5421712 5421712 5796395 7851226 7760664 11220097 2054831 0 X 0 1 X 1 0 X 261500 229400 1198790 361343 265739 2316772 261500 229400 1198790 361343 265739 2316772 1075872 1240900 155117 155117 2471889 425286 0.50200 0.48430 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SPECIAL EVENT REVENUE - 2017 AMOUNT: $ 154,736. OTHER REVENUE - 2017 AMOUNT: $ 381. SCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS: DESCRIPTION: UNUSUAL GRANT DATE: 12/31/19 AMOUNT: 6000000. DESCRIPTION: UNUSUAL GRANT DATE: 12/31/20 AMOUNT: 2239175. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 118643 79868 38775 127221 91527 35694 68477 64440 4037 78506 X 528406 144679 144679 383727 2239175 2239175 2622902 712750 144679 144679 568071 0 568071 PART X, LINE 2: THE FUND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME OR EXCISE TAX HAS BEEN MADE. HOWEVER, SHOULD THE FUND ENGAGE IN ACTIVITIES UNRELATED TO THE PURPOSE FOR WHICH IT WAS CREATED, TAXABLE INCOME COULD RESULT. THE FUND HAS NOT INCURRED ANY FEDERAL INCOME TAX FOR THE YEAR ENDED DECEMBER 31, 2020. 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 2020 AND 2019. TAX POSITIONS TAKEN RELATED TO THE FUND'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, THE FUND HAS NOT RECORDED AN INCOME TAX LIABILITY FOR UNCERTAIN TAX POSITIONS. FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019, THERE WERE NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: CONTRIBUTION OF ASSETS FROM THE REAL ESTATE COUNCIL FOUNDATION UPON MERGER 2,239,175. X 0 0 0 0 0 0 0 0 0 LINDA MCMAHON CEO/PRESIDENT 29336 264025 0 0 23 206 855 7695 768 6915 30982 278841 0 0 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 A, LINE 4 ON DECEMBER 31, 2020 THE REAL ESTATE COUNCIL COMMUNITY FUND (TREC CF) MERGED WITH RELATED ENTITY, THE REAL ESTATE COUNCIL FOUNDATION (TRECF). TREC CF WAS THE SURVIVING ENTITY AND SUBSEQUENTLY CHANGED ITS NAME TO TREC COMMUNITY INVESTORS (TREC CI). TREC CI DID NOT CHANGE ITS PROGRAM SERVICES OR EXEMPT PURPOSE DURING THE MERGER, BUT DID RESTATE ITS CERTIFICATE OF FORMATION AND FILED FOR A LEGAL NAME CHANGE. A COPY OF THESE DOCUMENTS WAS PREVIOUSLY FILED WITH THE IRS PRIOR TO THE FILING OF THIS FORM 990. 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 15A 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. 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 - EITHER IN ELECTRONIC FORMAT OR A PRINTED VERSION. 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 FOUNDATION 3100 MCKINNON STREET ST 1150 DALLAS TX 75201 752510813 COMMUNITY OUTREACH TX 501(C)(3) LINE 7 TREC 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 FNDTN 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 1 THE REAL ESTATE COUNCIL INC O 125692 FMV THE REAL ESTATE COUNCIL INC P 74276 FMV THE REAL ESTATE COUNCIL FOUNDATION S 2239175 FMV