2021-11-15T09:30:38-06:00 2020-12-31 420714325 RSM US LLP 19026 RIDGEWOOD PKWY STE 400 SAN ANTONIO TX 78259 990 2020-01-01 752510813 THE REAL ESTATE COUNCIL FOUNDATION REAL 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 1209279 0 X WWW.RECOUNCIL.COM X 1994 TX IGNITES POSITIVE COMMUNITY CHANGE AND PROVIDES SOLUTIONS TO SUPPORT LOCAL COMMUNITIES BY UTILIZING THE PROFESSIONAL SKILLS OF ITS PARENT ORGANIZATION'S MEMBERS. X 27 27 1 92 0 0 1178649 184806 0 0 15675 286770 0 10620 1194324 482196 948511 30191 0 0 294691 247721 0 0 0 375750 302384 1618952 580296 -424628 -98100 3146987 0 1031356 0 2115631 0 X THE REAL ESTATE COUNCIL FOUNDATION IGNITES POSITIVE COMMUNITY CHANGE AND PROVIDES INNOVATIVE SOLUTIONS THAT HELP SUPPORT LOCAL COMMUNITIES THROUGH ITS UNIQUE APPROACH WHICH UTILIZES THE PROFESSIONAL SKILLS OF THE MEMBERS OF THE PARENT ORGANIZATION. 0 1 456118 30191 10620 THE REAL ESTATE COUNCIL FOUNDATION INVESTS THE FUNDS OF OUR FINANCIAL PARTNERS AND OUR OWN FUNDS TO NONPROFIT ORGANIZATIONS IN NORTH TEXAS ON INITIATIVES IN FOUR KEY AREAS: EDUCATION, HOUSING, JOBS AND THE ENVIRONMENT. 102651 THE REAL ESTATE COUNCIL FOUNDATION LEVERAGED THE TECHNICAL EXPERTISE OF THE REAL ESTATE COUNCIL'S MEMBERSHIP TO PROVIDE PRO BONO PROFESSIONAL SERVICES VALUED AT $414,594 IN 2020 TO HELP NON-PROFITS IN THE NORTH TEXAS REGION. 558769 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 0 1 1 0 1 1 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 27 27 0 0 0 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 ALLISON HUBBARD PROFESSIONAL SERVICE CHAIR 1.00 0.00 X 0 0 0 BLAIR ODEN METRICS CHAIR 1.00 0.00 X 0 0 0 BRIAN HEFLIN TREASURER 1.00 0.00 X X 0 0 0 BRIAN NEITZEL BOARD MEMBER 0.50 0.00 X 0 0 0 CAMPBELL ROCHE FUNDRAISING CHAIR 1.00 0.00 X 0 0 0 CATHY JANKE GRANT CHAIR 1.00 0.00 X 0 0 0 CRAIG WILSON BOARD MEMBER 0.50 0.00 X 0 0 0 EDWARD SPOONER BOARD MEMBER 0.50 0.00 X 0 0 0 JASON WEEKS BOARD MEMBER 0.50 0.00 X 0 0 0 KEENAN KOLENDO BOARD MEMBER 0.50 0.00 X 0 0 0 KIMBERLY BYRUM BOARD MEMBER 0.50 0.00 X 0 0 0 LINDSAY S MEGEE BOARD MEMBER 0.50 0.00 X 0 0 0 LIZ C TROCCHIO SMITH BOARD MEMBER 0.50 0.00 X 0 0 0 MARSHALL HESS BOARD MEMBER 0.50 0.00 X 0 0 0 MATT BALLARD ALC CLASS CHAIR 2020 1.00 1.00 X 0 0 0 MATTHEW R SHEM BOARD MEMBER 0.50 0.00 X 0 0 0 MICHAEL B ABLON CHAIRMAN 1.00 1.00 X X 0 0 0 MICHAEL BLACKWELL BOARD MEMBER 0.50 0.00 X 0 0 0 MICHELLE GREENSTREET BOARD MEMBER 0.50 0.00 X 0 0 0 ROBERT ACUNA-PILGRIM BOARD MEMBER 0.50 0.00 X 0 0 0 SARAH HINKLEY KENNINGTON BOARD MEMBER 1.00 1.00 X 0 0 0 SCOTT RODGERS BOARD MEMBER 0.50 0.00 X 0 0 0 SHANE M BOWEN BOARD MEMBER 0.50 0.00 X 0 0 0 STEPHANIE LAUGHLIN BOARD MEMBER 0.50 0.00 X 0 0 0 STEVE DILLON BOARD MEMBER 0.50 0.00 X 0 0 0 TOMMY MANN SECRETARY 1.00 0.00 X X 0 0 0 TYLER BERNS BOARD MEMBER 0.50 0.00 X 0 0 0 LINDA MCMAHON CEO/PRESIDENT 4.00 36.00 X 29359 264231 16233 CARLA BRANDT CFO 10.00 30.00 X 11526 34578 5078 FELICIA PIERSON SR DIRECTOR 20.00 20.00 X 65029 65029 10652 105914 363838 31963 0 0 1 0 0 57773 127033 45513 184806 15702 15702 998151 727083 271068 271068 271068 OTHER INCOME 900099 10620 10620 10620 482196 10620 0 286770 30191 30191 43777 41588 2189 173016 164365 8651 5149 4892 257 9556 9078 478 16223 15412 811 43038 40886 2152 1256 1193 63 18220 17309 911 9424 8953 471 26251 24938 1313 45040 42788 2252 250 238 12 6264 5951 313 25677 24393 1284 6758 6420 338 VOLUNTEER PROJECTS 57773 57773 COMMUNITY IMPROVEMENTS 45513 45513 STRATEGIC INITIATIVES 14811 14811 CATALYST PROGRAM EXPENS 1465 1465 644 612 32 580296 558769 21527 0 503727 0 361816 0 0 0 0 0 0 0 21230 0 0 0 95543 0 1918963 0 0 0 0 245708 0 3146987 0 24698 0 1006658 0 1031356 0 X 2115631 0 2115631 0 3146987 0 X -98100 221644 -2239175 X 0 1 X 1 0 X 992220 1048410 792514 1178649 184806 4196599 992220 1048410 792514 1178649 184806 4196599 197188 3999411 44011 71010 24125 16647 15702 171495 36026 3114 117294 10620 167054 4535148 0.88190 0.81820 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2016 AMOUNT: $ 36,026. 2017 AMOUNT: $ 3,114. RESCINDED GRANTS - 2018 AMOUNT: $ 117,294. 2020 AMOUNT: $ 10,620. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 1118434 221644 414594 636238 482196 0 482196 994890 414594 414594 580296 0 580296 PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE AND HAS BEEN DETERMINED TO BE AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR INCOME TAX HAS BEEN MADE. HOWEVER, SHOULD THE FOUNDATION ENGAGE IN ACTIVITIES UNRELATED TO THE PURPOSE FOR WHICH IT WAS CREATED, TAXABLE INCOME COULD RESULT. THE FOUNDATION HAS NOT INCURRED ANY FEDERAL INCOME TAX FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019. 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 LIABILITY IN THE CURRENT YEAR. MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN INCOME TAX POSITIONS. 1 SCHOLARSHOT 511 N AKARD STREET STE 202 DALLAS TX 75201 270232250 501(C)(3) 25000 SCHOLARSHIP MONEY TO UNDERPRIVILEDGED KIDS CITYSQUARE 511 N AKARD STREET STE 302 DALLAS TX 75201 752332948 501(C)(3) 5191 RENOVATION OF FOREST THEATER FACADE 2 0 PART I, LINE 2: OUR GRANTS ARE AWARDED BASED ON: 1) FORMAL GRANT APPLICATIONS THAT ARE SUBMITTED WITH PROJECT BUDGETS AND DETAILED FINANCIAL BACKGROUNDS FOR EACH QUALIFIED ORGANIZATION. 2) GRANT APPLICATIONS ARE REVIEWED BY VOLUNTEERS AND GRADED BASED ON KEY MISSION STANDARDS. 3) FOR APPROVED GRANTS, A FORMAL CONTRACT IS DRAFTED TO PROVIDE GUIDELINES OF HOW FUNDS WILL BE DISBURSED. 4) A TECHNICAL ASSISTANCE LIAISON IS ASSIGNED TO EACH PROJECT AND MUST APPROVE THE GRANT DISBURSEMENTS BASED ON THE CONTRACT TERMS (ESPECIALLY FOR REAL ESTATE DEVELOPMENT PROJECTS). 5) A FORMAL SUMMARY OF THE PROJECT IS REQUESTED FOR GRANT AWARDS THAT EXCEED $50K TO ENSURE THAT THE FUNDS WERE UTILIZED BASED ON THE ORIGINAL INTENT AS STATED IN THE GRANT APPLICATION. IN 2018 - THE REAL ESTATE COUNCIL FOUNDATION INITIATED THE DALLAS CATALYST PROJECT WHICH IS A COLLABORATION BETWEEN TREC FOUNDATION, CORNERSTONE BAPTIST CHURCH, CITYSQUARE AND ST. PHILIP'S SCHOOL AND COMMUNITY CENTER. THE RELATIONSHIP IS GOVERNED BY A MEMORANDUM OF UNDERSTANDING (MOU) WHICH OUTLINES ALL DUTIES OF TREC FOUNDATION AND FUNDING OF THE COMMITTED GRANTS UNDER THE MOU. ALL DISBURSEMENTS UNDER THE APPROVED GRANT FOR EACH ORGANIZATION HAS TO BE A REIMBURSEMENT OF EXPENSES INCURRED WHICH INCLUDES A DRAW REQUEST, RECEIPTS AND THE SIGNATURE APPROVAL OF A TREC MEMBER WHO HAS BEEN DESIGNATED AS A PROJECT MANAGER FOR THE PROJECT. ONCE IT IS APPROVED BY THE PROJECT MANAGER, THE TREC FOUNDATION PRESIDENT OR THE SENIOR DIRECTOR OF COMMUNITY INVESTMENT MUST ALSO APPROVE. FORM 990, SCHEDULE I, PART II: SIGNIFICANT HOURS OF PRO-BONO PROFESSIONAL SERVICES WERE AWARDED TO THESE PROJECTS BY THE MEMBERS OF OUR SISTER ORGANIZATION - THE REAL ESTATE COUNCIL, INC. THE VALUE OF THESE LEVERAGED SERVICES IS SUBSTANTIAL WITH REGARD TO REAL ESTATE DEVELOPMENT, TITLE WORK, LEGAL, ACCOUNTING, ARCHITECTURE, MENTORING, AND CURRICULUM DEVELOPMENT, AMONG OTHER SERVICES. THE PRO-BONO SERVICES WERE PROVIDED TO ALL ORGANIZATIONS NAMED AS GRANT RECIPIENTS, EXCLUDING THE VARIOUS OTHER PROJECTS. 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 X COMMERCIAL KITCHEN EQUIPMENT 1 16875 FMV X ALUMINUM STOREFRONT/GLASS AND GLAZING 1 9800 FMV X ROOFTOP UNITS 1 6500 FMV X METAL STUDS 1 4000 FMV X POLISHED CONCRETE 1 4000 FMV X EXHAUST FAN AND AIR CURTAIN 1 2338 FMV X PLUMBING FIXTURES 1 2000 FMV 0 0 0 0 PART I, COLUMN (B): REPORTING THE NUMBER OF CONTRIBUTIONS INVESTMENTS 2020-12-31 2426703 BOOK VALUE 800718545 TREC COMMUNITY INVESTORS 3100 MCKINNON STREET SUITE 1150 DALLAS TX 75201 501C3 INTERCOMPANY RECEIVABLES 2020-12-31 617721 BOOK VALUE 800718545 TREC COMMUNITY INVESTORS 3100 MCKINNON STREET SUITE 1150 DALLAS TX 75201 501C3 FIXED ASSETS 2020-12-31 76182 BOOK VALUE 800718545 TREC COMMUNITY INVESTORS 3100 MCKINNON STREET SUITE 1150 DALLAS TX 75201 501C3 PREPAIDS AND ACCRUALS 2020-12-31 24441 BOOK VALUE 800718545 TREC COMMUNITY INVESTORS 3100 MCKINNON STREET SUITE 1150 DALLAS TX 75201 501C3 1 0 0 0 1 1 1 1 0 PART I, LINE 2E: PERSON(S) INVOLVED: LINDA MCMAHON AND CARLA BRANDT PART I, LINE 2E: EXPLANATION OF INVOLVEMENT: LINDA MCMAHON AND CARLA BRANDT WERE OFFICERS OF BOTH THE TRANSFEREE AND SUCCESSOR ORGANIZATIONS. THEY CONTINUE TO BE OFFICERS OF THE SUCCESSOR ORGANIZATION AFTER THE MERGER. NEITHER RECEIVED ANY BENEFIT FROM THIS TRANSACTION. FORM 990, PART I, LINE 6, VOLUNTEERS: THE REAL ESTATE COUNCIL FOUNDATION (TRECF) UTILIZES VOLUNTEERS TO SERVE ON THE BOARD OF DIRECTORS AND TO OVERSEE COMMITTEES. VOLUNTEERS ALSO ASSIST WITH PROJECTS AND PROGRAMS AS WELL AS FUNDRAISING ACTIVITIES. IN ADDITION TO DIRECT SERVICE TO TRECF, THE FOUNDATION DEPLOYS VOLUNTEERS TO OTHER NONPROFIT AGENCIES TO LEND THEIR PRO-BONO PROFESSIONAL EXPERTISE. VOLUNTEERS ALSO PROVIDE OVERSIGHT AND GUIDANCE FOR NUMEROUS REAL ESTATE PROJECTS, THROUGHOUT THE CITY OF DALLAS TO SERVICE LOW-INCOME NEIGHBORHOODS AND CITIZENS. FORM 990, PART III, LINE 3 THE ENTITY MERGED INTO, AND TRANSFERRED ITS ASSETS TO, TREC COMMUNITY INVESTORS (FKA THE REAL ESTATE COUNCIL COMMUNITY FUND), A RELATED 501(C)(3) ENTITY. 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 PRESIDENT/CEO FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C TRECF FOLLOWS A CONFLICT OF INTEREST POLICY. THE PURPOSE OF THIS CONFLICT OF INTEREST POLICY (THE "POLICY") IS TO PROTECT THE INTERESTS OF THE FOUNDATION, 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 FOUNDATION 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 FOUNDATION 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 FOUNDATION'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. FORM 990, PART VI, SECTION A, LINE 1B, DELEGATED AUTHORITY: THE EXECUTIVE COMMITTEE REVIEWED AND APPROVED THE FINANCIAL STATEMENTS. FORM 990, PART XI, LINE 9: DISTRIBUTION OF NET ASSETS UPON DISSOLUTION AND MERGER -2,239,175. THE REAL ESTATE COUNCIL INC 3100 MCKINNON STREET STE 1150 DALLAS TX 75201 752342376 REAL ESTATE SUPPORT TX 501(C)(6) N/A N/A 0 TREC SPECIAL EVENTS INC 3100 MCKINNON STREET STE 1150 DALLAS TX 75201 464671936 SPECIAL EVENT TX 501(C)(3) 12 TREC FNDTN 1 THE REAL ESTATE COUNCIL POLITICAL ACTION COMMITTEE 3100 MCKINNON STREET STE 1150 DALLAS TX 75201 043590401 CAMPAIGN SUPPORT TX 527 N/A TREC 0 TREC COMMUNITY INVESTORS 3100 MCKINNON STREET STE 1150 DALLAS TX 75201 800718545 ECONOMIC DEVELOPMENT TX 501(C)(3) LINE 7 TREC 0 0 0 1 1 0 0 0 0 1 0 0 1 0 1 1 1 1 1 0 TREC SPECIAL EVENTS INC C 57773 FMV THE REAL ESTATE COUNCIL INC O 100135 FMV THE REAL ESTATE COUNCIL INC P 88363 FMV TREC COMMUNITY INVESTORS R 2239175 FMV