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 752510813 The Real Estate Council Foundation % 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 48105820203135000002 2020-11-08 P 03CBAE45BD8E2F188EB28F31E827C7F4869431D2 5C0D44087D09B77E279B1A0A9EDE0D2EC1F2BFBD 2019 2021-01-29 14:40:06Z Linda McMahon SAME AS C ABOVE Dallas TX 75201 1195296 false 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. 32 32 2 85 0 0 792514 1178649 0 0 91752 15675 117294 0 1001560 1194324 478333 948511 0 0 186336 294691 0 0 0 271448 375750 936117 1618952 65443 -424628 2679182 3146987 939133 1031356 1740049 2115631 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. false false 1492779 948511 The Real Estate Council Foundation invests the funds of our financial partners & our own funds to nonprofit organizations in North Texas on initiatives in four key areas: education, housing, jobs and the environment. 101072 The Real Estate Council Foundation leveraged the technical expertise of The Real Estate Councils membership to provide pro bono professional services valued at $198,065 in 2019 to help non-profits in the North Texas Region. A focus of this program is neighborhood revitalization. 2171 The Real Estate Council Foundation facilitated the Real Estate 101 and other interested parties to become more familiar with the complexities of real estate. Course work provided community oranizations with the technical expertise and skills needed to analyze real estate needs. 1596022 true true false false false false false false false false true false false true false true true false false false false false false false false false false true false true false false false false false false false false true false false false false true true true false false true 3 0 true 2 true false false false false false true true false false false false false false X 32 32 false false false false false false false true true false false false true true true true true false false false X CARLA BRANDT 2146923603 3100 MCKINNON STREET SUITE 1150 DALLAS TX 75201 Linda McMahon CEO / President 12.0 28.0 X 102750 239750 13879 Carla Brandt CFO 11.0 29.0 X 35235 95265 9215 Brian Heflin Director 1.5 0.0 X 0 0 0 Kim Hogan Director 11.0 0.0 X 0 0 0 Kris L Lowe Director 1.5 0.0 X 0 0 0 Lauren Goodman Director 2.5 0.0 X 0 0 0 Mark Roppolo Director 4.0 0.0 X 0 0 0 Michelle Greenstreet Director 2.5 0.0 X 0 0 0 Sarah H Hauptman Director 2.0 0.0 X 0 0 0 Steve Dillon Director 1.5 0.0 X 0 0 0 Travis C Ewert Director 3.0 0.0 X 0 0 0 Tyler Berns Director 2.0 0.0 X 0 0 0 Joseph Chu Director 2.5 0.0 X 0 0 0 Michael Blackwell Director 1.5 0.0 X 0 0 0 Shane M Bowen Director 2.5 0.0 X 0 0 0 Mark Bulmash Director 2.5 0.0 X 0 0 0 Marshall A Hess Director 1.5 0.0 X 0 0 0 Allison Hubbard Director 1.5 0.0 X 0 0 0 Cathy Janke Director 2.5 0.0 X 0 0 0 Stephanie Laughlin Director 5.5 0.0 X 0 0 0 Holden Lunsford Director 1.5 0.0 X 0 0 0 Tommy Mann Director 2.5 0.0 X 0 0 0 Steve Rado Treasurer 3.0 0.0 X X 0 0 0 Sergio Reyes Director 1.5 0.0 X 0 0 0 J Scott Rodgers Director 1.5 0.0 X 0 0 0 Matthew R Shem Director 1.5 0.0 X 0 0 0 Liz C Trocchio Smith Director 1.5 0.0 X 0 0 0 Jason Weeks Director 3.0 0.0 X 0 0 0 Craig Wilson Director 3.5 0.0 X 0 0 0 Moody D Younger Director, Ex-officio 2.5 5.0 X 0 0 0 Matt Ballard Director 12.0 12.0 X 0 0 0 Blair Oden Director 3.0 0.0 X 0 0 0 Bill Cawley Chairman 3.0 3.0 X X 0 0 0 Jonathan Vinson Secretary 5.5 0.0 X X 0 0 0 137985 335015 23094 1 false true false None 0 698857 479792 136864 1178649 0 16647 16647 0 0 0 0 0 972 -972 -972 -972 0 0 0 0 0 0 0 0 0 0 1194324 0 15675 948511 948511 0 0 0 144637 137738 6899 0 120522 114496 6026 3360 3013 347 9389 8766 623 16783 15944 839 0 0 28104 26699 1405 0 0 0 3479 3305 174 23932 22799 1133 14676 14108 568 26938 25593 1345 0 32546 30919 1627 1569 1545 24 0 5547 5298 249 0 0 25516 24240 1276 6543 6216 327 COMMUNITY IMPROVEMEMENTS 136864 136864 YOUNG GUNS PROJECT 68803 68803 DUES/FEES/TAXES 1233 1165 68 1618952 1596022 22930 0 313113 503727 61783 361816 0 0 12500 0 0 0 0 0 0 0 0 0 22522 21230 285252 189709 83803 95543 1747541 1918963 0 0 0 0 0 0 437920 245708 2679182 3146987 29627 24698 909506 1006658 0 0 0 0 0 0 0 0 0 0 0 0 0 0 939133 1031356 X 1740049 2115631 0 0 1740049 2115631 2679182 3146987 -424628 800210 X false true X true false X 1411372 992220 1048410 792514 1178649 5423165 0 0 1411372 992220 1048410 792514 1178649 5423165 93256 5329909 42861 44011 71010 24125 16647 198654 0 735576 36026 3114 117294 0 892010 6513829 251427 0.81825 0.51045 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 117519 65038 52481 46089 42038 4051 121644 82633 39011 95543 RELATED PARTY RECEIVABLES 245708 245708 0 0 X 2192600 800211 198065 998276 1194324 1194324 1817017 198065 198065 1618952 1618952 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 THE FOUNDATION 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 THE FOUNDATIONS 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 FOUNDATION HAS NOT RECORDED AN INCOME TAX LIABILITY FOR UNCERTAIN TAX BENEFITS. FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018, THERE WERE NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. true Cornerstone Baptist Church 1616 Al Lipscomb Way Dallas TX 75215 752623357 501(C)(3) 78550 0 Renovation of landscaping ScholarShot 511 N Akard Street Suite 202 Dallas TX 75201 270232250 501(C)(3) 25000 0 Scholarship money for underprivileaged kids CitySquare 511 NAkard StreetSte 302 Dallas TX 75201 752332948 501(C)(3) 133334 0 Renovation of Forest Theater Facade Cornerstone Baptist Church 1819 Martin LKing JrBlvd Dallas TX 75215 752623357 501(C)(3) 244167 0 Renovation of retail strip -Additional Grant Dallas Independent School District 9400 N Central ExpBox 21 Dallas TX 75231 756001278 501(C)(3) 15000 0 DISD Tornado Relief donation International Economic Development Coun 734 15th St Ste 900 NW Washington DC 20005 520887806 501(C)(3) 25000 0 IEDC Annual Conference Sponsorship Better Block Foundation 700 West Davis Street Dallas TX 75208 474885164 501(C)(3) 64250 0 Foresd district community event St Philip's Retail Center 1600 Pennyslavnia Ave Dallas TX 75215 751097360 501(C)(3) 361334 0 Renovation of retail strip -Additional Grant 7 MONITORING USE OF GRANTS SCHEDULE I, 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. DESCRIPTION OF NON-CASH ASSISTANCE 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 X false false false false false false false false false Linda McMahon CEO / President 78750 183750 24000 56000 0 2521 5882 1643 3833 106914 249465 CONTINGENT COMPENSATION SCHEDULE J, PART I, LINE 7 LINDA MCMAHON, CEO/PRESIDENT, RECEIVES A BONUS CONTINGENT ON THE OVERALL PERFORMANCE OF THE REAL ESTATE COUNCIL FOUNDATION, THE REAL ESTATE COUNCIL, THE REAL ESTATE COUNCIL COMMUNITY FUND AND TREC SPECIAL EVENTS, INC. X HVAC System 1 136864 FMV false false false VOLUNTEERS PART I, QUESTION 6 TRECF UTILIZES VOLUNTEERS TO SERVE ON THE BOARD OF DIRECTORS, TO OVERSEE COMMITTEES, AND TO ASSIST WITH ALL OPERATIONS OF THE FOUNDATION. VOLUNTEERS 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. DELEGATED AUTHORITY FORM 990, PART VI, LINE 1B THE EXECUTIVE COMMITTEE REVIEWED AND APPROVED THE FINANCIAL STATEMENTS. FORM 990 REVIEW PROCESS FORM 990, PART VI, 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 TREASURER AND CHAIRPERSON OF THE BOARD FOR REVIEW AND APPROVAL. CONFLICT OF INTEREST POLICY FORM 990, PART VI, 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. EXECUTIVE COMPENSATION FORM 990, PART VI, LINE 15A 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. The Real Estate Council Inc 3100 McKinnon Street Ste 1150 Dallas TX 75201 752342376 R E Support TX 501(C)(6) N/A NA false The Real Estate Council Political Action 3100 McKinnon Street Ste 1150 Dallas TX 75201 043590401 Campaign Supp TX 527 N/A TREC false The Real Estate Council Community Fund 3100 McKinnon Street Ste 1150 Dallas TX 75201 800718545 Econ Dev TX 501(C)(3) 07 TREC false TREC SPECIAL EVENTS INC 3100 McKinnon Street Ste 1150 Dallas TX 75201 464671936 SPECIAL EVENT TX 501(C)(3) 12 TREC FNDTN true false false true true false false false false true false false true false true true true true true true TREC Special Events Inc C 698857 Cash