2020-11-08T19:33:33-06:00 2019-12-31 GRANT THORNTON LLP 100 EAST WISCONSIN AVENUE STE 2100 MILWAUKEE WI 53202 990 2019-01-01 752342376 The Real Estate Council Inc % CARLA BRANDT REAL 2146923603 3100 McKinnon Street Suite 1150 Dallas TX 75201 LINDA MCMAHON CEO/President 2146923603 2020-11-06 true Michelle Weber P00556798 4142898200 68.134.16.150 48105820203135000001 2020-11-08 P 03CBAE45BD8E2F188EB28F31E827C7F4869431D2 5C0D44087D09B77E279B1A0A9EDE0D2EC1F2BFBD 2019 2021-04-22 16:20:28Z Linda McMahon 100 EAST WISCONSIN AVE STE2100 MILWAUKEE WI 53202 1539253 false X www.recouncil.com X 1990 TX Cultivate relationships in the commercial real estate industry to catalyze community investment, influence policy, propel careers and develop the leaders of tomorrow. 54 52 14 452 0 0 0 0 1506530 1538948 319 305 0 0 1506849 1539253 0 0 0 0 895193 822549 0 0 0 626591 590720 1521784 1413269 -14935 125984 917923 930144 761862 648099 156061 282045 X See Schedule O false false TREC focuses on Leadership Development of the next generation of leaders and education of our members through cutting edge educational programming as well as high level networking opportunities for our members. To achieve TREC's vision of a world-class and livable North Texas region for all, 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. false false false true false false false false false true false false false false true false false false false false false false false false false false false false true false false false false false false false false false false false true true true false true 6 0 true 14 true true true false false false true true false false false X 54 52 true false false false false false false true true false false false true true true false true true false false X CARLA BRANDT 2146923603 3100 MCKINNON STREET SUITE 1150 DALLAS TX 75201 Linda McMahon CEO / PRESIDENT 20.0 20.0 X 171250 171250 13880 Carla Brandt CFO 16.0 24.0 X 50895 79605 9213 Beth Lambert DIRECTOR 3.0 3.0 X 0 0 0 Bill Cawley Chair Elect 3.0 3.0 X X 0 0 0 Bill Dahlstrom Director 3.5 0.0 X 0 0 0 Brant Brown DIRECTOR 2.5 0.0 X 0 0 0 Brian Cramer Director 1.5 0.0 X 0 0 0 Chad Schieber DIRECTOR 2.5 0.0 X 0 0 0 Colin Fitzgibbons Director 1.5 0.0 X 0 0 0 Courtney Naudo DIRECTOR THRU 5/14/19 2.5 0.0 X 0 0 0 Dallas Lucas Director 2.5 0.0 X 0 0 0 Danny Hertel Treasurer 2.5 3.0 X X 0 0 0 Doug Nash Director 2.5 0.0 X 0 0 0 Frank Mihalopoulos Director 6.0 6.0 X 0 0 0 Gerald W Dunn DIRECTOR 7.5 7.5 X 0 0 0 Gilbert Gerst Director 2.0 0.0 X 0 0 0 James Dunn Director 4.0 0.0 X 0 0 0 Jason L Signor Director 1.5 0.0 X 0 0 0 Jeff Montgomery Director 2.0 0.0 X 0 0 0 JAMES B KNIGHT Chairman 4.0 8.0 X X 0 0 0 Joel Behrens Director 1.5 1.0 X 0 0 0 John L Riggins DIRECTOR 7.0 0.0 X 0 0 0 JONATHAN C NAPPER Director 5.0 5.0 X 0 0 0 Jon Ruff Director 3.0 0.0 X 0 0 0 Kate A Cavanaugh DIRECTOR 3.5 3.5 X 0 0 0 KATHERINE BLOOM Director 2.5 0.0 X 0 0 0 Katy Slade Director 1.5 0.0 X 0 0 0 Kevin Bryant Director 6.0 6.0 X 0 0 0 Kevin W Murry Director 2.5 0.0 X 0 0 0 King Scovell Director 3.0 0.0 X 0 0 0 Lucy P Burns Director 3.0 0.0 X 0 0 0 Mark Buskuhl Director 3.0 0.0 X 0 0 0 Mary Stoner Yost Director 3.0 0.0 X 0 0 0 Matt Ballard DIRECTOR 12.0 12.0 X 0 0 0 Matt McDonald Director 3.0 0.0 X 0 0 0 Michael A Krywucki Secretary 4.5 0.0 X X 0 0 0 Mike D Bryant Director 1.0 1.0 X 0 0 0 Mike Geisler DIRECTOR 6.0 0.0 X 0 0 0 Moody D Younger DIRECTOR 2.5 5.0 X 0 0 0 Paul Wittorf Director 2.5 0.0 X 0 0 0 Peter Read Director 2.5 0.0 X 0 0 0 Ramsey March Director 3.0 0.0 X 0 0 0 Ran Holman Immediate Past Chairman 4.0 0.0 X X 0 0 0 Rick Perdue Director 1.5 0.0 X 0 0 0 Ron Miller Director 2.5 0.0 X 0 0 0 Sarah Hinkley Kenningt Director 10.5 0.0 X 0 0 0 Scott Rohrman Director 4.0 0.0 X 0 0 0 Stephen T Crosson Director 2.5 0.0 X 0 0 0 Tobin Swope Director 2.5 0.0 X 0 0 0 Todd C Howard Director 2.0 0.0 X 0 0 0 Todd Watson Director 4.5 0.0 X 0 0 0 Tom Burns Director 2.5 0.0 X 0 0 0 Trey Morsbach Director 2.5 0.0 X 0 0 0 Vicky P Gunning Director 1.5 0.0 X 0 0 0 William Brokaw Director 1.5 0.0 X 0 0 0 Yelda D Tuz Director 3.0 0.0 X 0 0 0 Geoff A Meyer Director 2.5 0.0 X 0 0 0 222145 250855 23093 1 false true false NONE 0 0 MEMBERSHIP DUES 812900 1154300 1154300 SPONSORSHIPS 812900 131700 131700 PROFESSIONAL DEVELOPMENT & EVENTS 812900 230205 230205 PUBLIC POLICY FUNDS 812900 19418 19418 MANAGEMENT FEES 812900 3325 3325 1538948 305 305 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1539253 1538948 305 0 0 0 0 232678 0 489786 13830 36248 50007 0 0 14526 62500 0 0 132643 4669 25568 27776 0 32547 6380 0 15611 0 0 22984 9046 PROGRAM AND EVENT EXPENSES 175572 STRATEGIC INITIATIVES 40671 PUBLIC RELATIONS EXPENSE 15760 ALL OTHER EXPENSES 4467 1413269 593829 531612 202840 203144 0 0 19000 69977 0 0 0 0 0 0 0 0 26485 38993 265899 180201 75769 85698 0 0 0 0 0 0 0 0 0 720 917923 930144 178821 110117 0 0 583041 537982 0 0 0 0 0 0 0 0 0 0 0 0 761862 648099 X 156061 282045 0 0 156061 282045 917923 930144 125984 X true X false true false true false false 98882 59708 39174 136876 90352 46524 30141 30141 85698 0 0 X UNCERTAIN TAX POSITION (ASC 740) SCHEDULE D, PART X, LINE 2 THE CODIFICATION HAS ISSUED GUIDANCE IN ACCOUNTING FOR UNCERTAINTIES IN INCOME TAXES WHICH REQUIRES THAT TREC RECOGNIZE IN ITS FINANCIAL STATEMENTS THE FINANCIAL EFFECTS OF A TAX POSITION, IF THAT POSITION IS MORE LIKELY THAN NOT OF BEING SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTION OF ANY APPEALS OR LITIGATION PROCESSES, BASED UPON THE TECHNICAL MERITS OF THE TAX POSITION. THE REQUIREMENTS ALSO PROVIDE GUIDANCE ON MEASUREMENT, CLASSIFICATION, INTEREST AND PENALTIES AND DISCLOSURE. 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 BENEFITS. FOR THE YEAR ENDED DECEMBER 31, 2019, THERE WAS NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. X X false false false Linda McMahon CEO / PRESIDENT 131250 131250 40000 40000 0 0 4202 4202 2738 2738 178190 178190 CONTINGENT COMPENSATION SCHEDULE J, PART I, QUESTIONS 6A & 6B LINDA MCMAHON, CEO/PRESIDENT, RECEIVES A BONUS CONTINGENT ON MEETING THE BUDGETS, PROGRAMMATIC AND MISSION GOALS ESTABLISHED FOR THE REAL ESTATE COUNCIL FOUNDATION, THE REAL ESTATE COUNCIL, THE REAL ESTATE COUNCIL COMMUNITY FUND AND TREC SPECIAL EVENTS, INC. ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITIES FORM 990, PART I, LINE 1 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. VOLUNTEERS FORM 990, PART I, LINE 6 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. ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 TRECs 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. DELEGATED AUTHORITY FORM 990, PART VI, LINE 1B 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 AND THE DIRECTOR OF THE REAL ESTATE COUNCIL FOUNDATION SHALL BE NON-VOTING MEMBERS 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 ABSENSE, 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. FAMILY RELATIONSHIPS Form 990, Part VI, line 2 Directors Gerald W. Dunn and James Dunn have a family relationship. FORM 990 REVIEW FORM 990, PART VI, LINE 11B A THOROUGH REVIEW IS PERFORMED BY THE FINANCE DIRECTOR. AFTER ALL EDITS HAVE BEEN INCORPORATED IN THE RETURN, THE FINAL COPY IS PROVIDED TO THE CEO FOR REVIEW AND APPROVAL. CONFLICT OF INTEREST POLICY FORM 990, PART VI, 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 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 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. EXECUTIVE COMPENSATION FORM 990, PART VI, LINES 15A & 15B The compensation for Linda McMahon, CEO, is approved by an independent compensation committee. 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. GOVERNING DOCUMENTS FORM 990, PART VI, 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. 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