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      <CompensationFromOtherSrcsInd>false</CompensationFromOtherSrcsInd>
      <ProgramServiceRevenueGrp>
        <Desc>COURSE REVENUE</Desc>
        <BusinessCd>900099</BusinessCd>
        <TotalRevenueColumnAmt>53086</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>53086</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <ProgramServiceRevenueGrp>
        <Desc>LICENSE PLATE REVENUE</Desc>
        <BusinessCd>900099</BusinessCd>
        <TotalRevenueColumnAmt>29976</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>29976</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>83062</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>3964</TotalRevenueColumnAmt>
        <ExclusionAmt>3964</ExclusionAmt>
      </InvestmentIncomeGrp>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>87026</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>83062</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>0</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>3964</ExclusionAmt>
      </TotalRevenueGrp>
      <InfoInScheduleOPartIXInd>X</InfoInScheduleOPartIXInd>
      <CompCurrentOfcrDirectorsGrp>
        <TotalAmt>3500</TotalAmt>
        <ProgramServicesAmt>3500</ProgramServicesAmt>
      </CompCurrentOfcrDirectorsGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>4727</TotalAmt>
        <ManagementAndGeneralAmt>4727</ManagementAndGeneralAmt>
      </FeesForServicesAccountingGrp>
      <FeesForServicesOtherGrp>
        <TotalAmt>20989</TotalAmt>
        <ProgramServicesAmt>20989</ProgramServicesAmt>
      </FeesForServicesOtherGrp>
      <OfficeExpensesGrp>
        <TotalAmt>25762</TotalAmt>
        <ProgramServicesAmt>25286</ProgramServicesAmt>
        <ManagementAndGeneralAmt>476</ManagementAndGeneralAmt>
      </OfficeExpensesGrp>
      <ConferencesMeetingsGrp>
        <TotalAmt>1656</TotalAmt>
        <ManagementAndGeneralAmt>1656</ManagementAndGeneralAmt>
      </ConferencesMeetingsGrp>
      <OtherExpensesGrp>
        <Desc>LICENSING FEES</Desc>
        <TotalAmt>1495</TotalAmt>
        <ProgramServicesAmt>1495</ProgramServicesAmt>
      </OtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>58129</TotalAmt>
        <ProgramServicesAmt>51270</ProgramServicesAmt>
        <ManagementAndGeneralAmt>6859</ManagementAndGeneralAmt>
        <FundraisingAmt>0</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <CashNonInterestBearingGrp>
        <BOYAmt>393634</BOYAmt>
        <EOYAmt>420499</EOYAmt>
      </CashNonInterestBearingGrp>
      <SavingsAndTempCashInvstGrp>
        <BOYAmt>171878</BOYAmt>
        <EOYAmt>173910</EOYAmt>
      </SavingsAndTempCashInvstGrp>
      <LandBldgEquipCostOrOtherBssAmt>31076</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>31076</LandBldgEquipAccumDeprecAmt>
      <TotalAssetsGrp>
        <BOYAmt>565512</BOYAmt>
        <EOYAmt>594409</EOYAmt>
      </TotalAssetsGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>0</BOYAmt>
        <EOYAmt>0</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>350021</BOYAmt>
        <EOYAmt>372602</EOYAmt>
      </NoDonorRestrictionNetAssetsGrp>
      <DonorRestrictionNetAssetsGrp>
        <BOYAmt>215491</BOYAmt>
        <EOYAmt>221807</EOYAmt>
      </DonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>565512</BOYAmt>
        <EOYAmt>594409</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>565512</BOYAmt>
        <EOYAmt>594409</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>28897</ReconcilationRevenueExpnssAmt>
      <OtherChangesInNetAssetsAmt>0</OtherChangesInNetAssetsAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>true</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>true</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>false</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="990A">
      <PubliclySupportedOrg509a2Ind>X</PubliclySupportedOrg509a2Ind>
      <GiftsGrantsContrisRcvd509Grp>
        <CurrentTaxYearMinus4YearsAmt>140368</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>112089</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>93683</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>112229</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>83061</CurrentTaxYearAmt>
        <TotalAmt>541430</TotalAmt>
      </GiftsGrantsContrisRcvd509Grp>
      <Total509Grp>
        <CurrentTaxYearMinus4YearsAmt>140368</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>112089</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>93683</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>112229</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>83061</CurrentTaxYearAmt>
        <TotalAmt>541430</TotalAmt>
      </Total509Grp>
      <PublicSupportTotal509Amt>541430</PublicSupportTotal509Amt>
      <GrossInvestmentIncome509Grp>
        <CurrentTaxYearMinus4YearsAmt>11082</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>4258</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>5852</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>8748</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>3965</CurrentTaxYearAmt>
        <TotalAmt>33905</TotalAmt>
      </GrossInvestmentIncome509Grp>
      <InvestmentIncomeAndUBTIGrp>
        <CurrentTaxYearMinus4YearsAmt>11082</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>4258</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>5852</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>8748</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>3965</CurrentTaxYearAmt>
        <TotalAmt>33905</TotalAmt>
      </InvestmentIncomeAndUBTIGrp>
      <TotalSupportCalendarYearGrp>
        <CurrentTaxYearMinus4YearsAmt>151450</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>116347</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>99535</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>120977</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>87026</CurrentTaxYearAmt>
        <TotalAmt>575335</TotalAmt>
      </TotalSupportCalendarYearGrp>
      <PublicSupportCY509Pct>0.94110</PublicSupportCY509Pct>
      <PublicSupportPY509Pct>0.94570</PublicSupportPY509Pct>
      <InvestmentIncomeCYPct>0.06000</InvestmentIncomeCYPct>
      <InvestmentIncomePYPct>0.05000</InvestmentIncomePYPct>
      <ThirtyThrPctSuprtTestsCY509Ind>X</ThirtyThrPctSuprtTestsCY509Ind>
    </IRS990ScheduleA>
    <IRS990ScheduleD documentId="990D">
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>31076</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>31076</DepreciationAmt>
      </EquipmentGrp>
      <FootnoteTextInd>X</FootnoteTextInd>
      <TotalRevEtcAuditedFinclStmtAmt>87026</TotalRevEtcAuditedFinclStmtAmt>
      <RevenueSubtotalAmt>87026</RevenueSubtotalAmt>
      <TotalRevenuePerForm990Amt>87026</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>58129</TotExpnsEtcAuditedFinclStmtAmt>
      <ExpensesSubtotalAmt>58129</ExpensesSubtotalAmt>
      <TotalExpensesPerForm990Amt>58129</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Footnote for uncertain tax position under FIN 48 (Part X)</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FOUNDATION HAS EVALUATED ITS TAX POSITIONS IN ACCORDANCE WITH THE CODIFICATION STANDARD RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE FOUNDATION BELIEVES THAT IT HAS TAKEN NO UNCERTAIN TAX POSITIONS.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleJ documentId="990J">
      <CompBasedOnRevenueOfFlngOrgInd>false</CompBasedOnRevenueOfFlngOrgInd>
      <CompBsdOnRevRelatedOrgsInd>false</CompBsdOnRevRelatedOrgsInd>
      <CompBsdNetEarnsFlngOrgInd>false</CompBsdNetEarnsFlngOrgInd>
      <CompBsdNetEarnsRltdOrgsInd>false</CompBsdNetEarnsRltdOrgsInd>
      <AnyNonFixedPaymentsInd>false</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>false</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>ANGELA SHIELDS</PersonNm>
        <TitleTxt>CEO</TitleTxt>
        <CompensationBasedOnRltdOrgsAmt>255000</CompensationBasedOnRltdOrgsAmt>
        <TotalCompensationRltdOrgsAmt>255000</TotalCompensationRltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="990O">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Governing body decisions Part VI line 7b</FormAndLineReferenceDesc>
        <ExplanationTxt>THE TENNESSEE ASSOCIATION OF REALTORS VOTES TO APPROVE INDIVIDUALS APPLYING TO BE TRUSTEES OF THE TENNESSEE REAL ESTATE EDUCATIONAL FOUNDATION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990 governing body review Part VI line 11</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FINANCE DIRECTOR OF TENNESSEE ASSOCIATION OF REALTORS WILL REVIEW THE RETURN COMPARING FINANCIAL INFORMATION TO THE BOOKS AND RECORDS AND REVIEWING THE TEXT FOR ERRORS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Governing documents etc available to public Part VI line 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>List of other fees for services expenses Part IX line 11g</FormAndLineReferenceDesc>
        <ExplanationTxt>INSTRUCTOR FEES $20,989</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="990R">
      <IdRelatedTaxExemptOrgGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>TN ASSOCIATION OF REALTORS INC</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>901 19TH AVENUE SOUTH</AddressLine1Txt>
          <CityNm>NASHVILLE</CityNm>
          <StateAbbreviationCd>TN</StateAbbreviationCd>
          <ZIPCd>37212</ZIPCd>
        </USAddress>
        <EIN>620641912</EIN>
        <PrimaryActivitiesTxt>PROFESSIONAL DEVELOPMENT</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>TN</LegalDomicileStateCd>
        <ExemptCodeSectionTxt>6</ExemptCodeSectionTxt>
        <DirectControllingNACd>N/A</DirectControllingNACd>
        <ControlledOrganizationInd>false</ControlledOrganizationInd>
      </IdRelatedTaxExemptOrgGrp>
      <IdRelatedTaxExemptOrgGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>TN REALTORS POLITICAL ACTION COM</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>901 19TH AVENUE SOUTH</AddressLine1Txt>
          <CityNm>NASHVILLE</CityNm>
          <StateAbbreviationCd>TN</StateAbbreviationCd>
          <ZIPCd>37212</ZIPCd>
        </USAddress>
        <EIN>621083699</EIN>
        <PrimaryActivitiesTxt>ADVOCACY</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>TN</LegalDomicileStateCd>
        <ExemptCodeSectionTxt>527</ExemptCodeSectionTxt>
        <DirectControllingNACd>N/A</DirectControllingNACd>
        <ControlledOrganizationInd>false</ControlledOrganizationInd>
      </IdRelatedTaxExemptOrgGrp>
      <ReceiptOfIntAnntsRntsRyltsInd>false</ReceiptOfIntAnntsRntsRyltsInd>
      <GiftGrntOrCapContriToOthOrgInd>false</GiftGrntOrCapContriToOthOrgInd>
      <GiftGrntCapContriFromOthOrgInd>false</GiftGrntCapContriFromOthOrgInd>
      <LoansOrGuaranteesToOtherOrgInd>false</LoansOrGuaranteesToOtherOrgInd>
      <LoansOrGuaranteesFromOthOrgInd>false</LoansOrGuaranteesFromOthOrgInd>
      <DivRelatedOrganizationInd>false</DivRelatedOrganizationInd>
      <AssetSaleToOtherOrgInd>false</AssetSaleToOtherOrgInd>
      <AssetPurchaseFromOtherOrgInd>false</AssetPurchaseFromOtherOrgInd>
      <AssetExchangeInd>false</AssetExchangeInd>
      <RentalOfFacilitiesToOthOrgInd>false</RentalOfFacilitiesToOthOrgInd>
      <RentalOfFcltsFromOthOrgInd>false</RentalOfFcltsFromOthOrgInd>
      <PerformOfServicesForOthOrgInd>false</PerformOfServicesForOthOrgInd>
      <PerformOfServicesByOtherOrgInd>false</PerformOfServicesByOtherOrgInd>
      <SharingOfFacilitiesInd>false</SharingOfFacilitiesInd>
      <PaidEmployeesSharingInd>false</PaidEmployeesSharingInd>
      <ReimbursementPaidToOtherOrgInd>false</ReimbursementPaidToOtherOrgInd>
      <ReimbursementPaidByOtherOrgInd>false</ReimbursementPaidByOtherOrgInd>
      <TransferToOtherOrgInd>false</TransferToOtherOrgInd>
      <TransferFromOtherOrgInd>false</TransferFromOtherOrgInd>
    </IRS990ScheduleR>
  </ReturnData>
</Return>
