2019-10-18T17:05:48-05:00 2018-12-31 GRANT THORNTON LLP 100 EAST WISCONSIN AVENUE STE 2100 MILWAUKEE WI 53202 990 2018-01-01 800718545 The Real Estate Council Community Fund % CARLA BRANDT REAL 2146923603 3100 McKinnon Street Suite 1150 Dallas TX 75201 LINDA MCMAHON CEO/President 2146923603 2019-10-16 true MICHELLE WEBER P00556798 4142898200 209.220.136.124 48105820192915000001 2019-10-18 P D8144EF21AC2D52864937695A2503175270E7152 03CBAE45BD8E2F188EB28F31E827C7F4869431D2 2018 2019-02-21 02:37:17Z Linda McMahon 3100 McKinnon Street Suite 1150 Dallas TX 75201 1301347 false X www.recouncil.com X 2010 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. 15 15 4 98 0 0 229400 1198790 79637 102557 0 0 155117 0 464154 1301347 0 0 0 0 103238 215150 0 0 63468 267022 277710 370260 492860 93894 808487 1582609 2376282 739145 717747 843464 1658535 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. false false 408989 102557 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. 408989 true true false false false false false false true false true false false false true true true false false false false false false false false false false false false true false false false false false false false false false false false false false true false false false true 2 0 true 4 true false false false false false false false false false false false false X 15 15 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 Aaron Echols Treasurer 3.0 0.0 X X 0 0 0 Ces Escamilla Board Member 3.0 0.0 X 0 0 0 Chad Schieber Board Member 3.0 0.0 X 0 0 0 Darcy Barnes Board Member 3.0 0.0 X 0 0 0 David Lynch Board Member 3.0 0.0 X 0 0 0 Denise Mason Board Member 3.0 0.0 X 0 0 0 Diane Chavez Board Member 3.0 0.0 X 0 0 0 Dustin Dulin Board Member 3.0 0.0 X 0 0 0 Jeff Kocher Board Member 3.0 0.0 X 0 0 0 Joel S Schubert Secretary 3.0 0.0 X X 0 0 0 Karyn Martin Board Member 3.0 0.0 X 0 0 0 Kate A Cavanaugh Vice Chairman 3.0 0.0 X X 0 0 0 Rod Washington Board Member 3.0 0.0 X 0 0 0 Shery R Layne Board Member 3.0 0.0 X 0 0 0 Troy Daniel Chairman 3.0 2.5 X X 0 0 0 LINDA MCMAHON CEO/PRESIDENT 2.0 38.0 X 0 330000 22033 Carla Brandt CFO 7.0 33.0 X 0 130000 10223 0 460000 32256 0 false true false NONE 0 1198790 1198790 LOAN REVENUE 522291 102557 102557 0 0 102557 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1301347 102557 0 0 0 0 0 0 181580 145264 12711 23605 0 0 0 19448 15558 1361 2529 14122 11298 989 1835 0 0 8701 6961 609 1131 0 0 0 86924 86856 24 44 6500 5200 455 845 5731 4631 402 698 5696 4557 399 740 0 5742 4593 402 747 4811 3878 327 606 0 1560 1248 109 203 15339 15339 0 3391 2713 237 441 1480 1184 104 192 BAD DEBTS 99328 73703 0 25625 CATERING/HOTEL/FACILITY 10263 8210 718 1335 PRODUCTION/AUDIO/VISUAL 1685 1348 118 219 MISCELLANEOUS EXPENSES 20559 16448 1438 2673 492860 408989 20403 63468 131248 465390 0 0 0 0 57000 486875 0 0 0 0 1388466 1415117 0 0 1475 7870 20513 19483 4420 1030 0 0 0 0 0 0 0 0 0 0 1582609 2376282 122889 19 0 0 0 0 0 0 34980 34980 0 0 422475 0 0 247828 158801 434920 739145 717747 X 349307 510175 38157 292360 456000 856000 843464 1658535 1582609 2376282 X 808487 6584 X false true X true false X 0 218000 261500 229400 1198790 1907690 0 0 0 218000 261500 229400 1198790 1907690 965533 942157 0 0 0 0 0 155117 0 155117 2062807 282328 0.45674 0.55733 X false true X 20513 19483 1030 1030 0 DUE TO RELATED PARTIES 434920 434920 X 1363288 61941 61941 1301347 1301347 548217 61941 -6584 55357 492860 492860 ESCROW SCHEDULE D, PART IV, LINE 2A AN ESCROW BANK ACCOUNT WAS ESTABLISHED IN 2016 AS COLLATERAL FOR A LOAN RECEIVABLE. THE ACCOUNT WILL BE REFUNDED ONCE THE LOAN HAS MATURED AND IS PAID. 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 FUND 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 FUNDS APPLICATION FOR 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 BENEFITS. FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017, THERE WAS NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. Other Expenses Not Included on Form 990 Schedule D, Part XII, line 2d Provision for loan gains $6,584 false false false false false false false false false LINDA MCMAHON CEO/PRESIDENT 0 250000 0 80000 0 0 0 9900 0 12133 0 352033 0 0 CONTINGENT COMPENSATION SCHEDULE J, PART I, QUESTIONS 6A & 6B 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. VOLUNTEERS FORM 990, PART I, LINE 6 THE REAL ESTATE COUNCIL COMMUNITY FUND (TRECCF) UTILIZES VOLUNTEERS TO SERVE ON THE BOARD OF DIRECTORS, TO OVERSEE COMMITTEES, AND TO ASSIST WITH ALL OPERATIONS. VOLUNTEERS ASSIST WITH ALL PROGRAMS AND EVENTS. 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 CEO FOR REVIEW AND APPROVAL. CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 12C TRECCF 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. 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. Other Changes in Net Assets or Fund Balances Form 990, Part XI, line 9 Provision for loan gains $6,584 FORM 990 PART IX LINE 11G DESCRIPTION:PROJECT MANAGEMENT FEES TOTAL FEES:19495 FORM 990 PART IX LINE 11G DESCRIPTION:DESIGNER FOR COMMUNITY ENGAGEM TOTAL FEES:18501 FORM 990 PART IX LINE 11G DESCRIPTION:SURVEYOR TOTAL FEES:8849 FORM 990 PART IX LINE 11G DESCRIPTION:PEO SERVICES TOTAL FEES:3280 FORM 990 PART IX LINE 11G DESCRIPTION:PUBLIC RELATIONS TOTAL FEES:2104 FORM 990 PART IX LINE 11G DESCRIPTION:TRAINING MATERIAL PREPARATION TOTAL FEES:1444 FORM 990 PART IX LINE 11G DESCRIPTION:TRANSLATOR TOTAL FEES:490 FORM 990 PART IX LINE 11G DESCRIPTION:OTHER TOTAL FEES:32761 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 Foundation 3100 McKinnon Street Ste 1150 Dallas TX 75201 752510813 Comm Outreach TX 501(C)(3) 07 TREC false The Real Estate Council PAC 3100 McKinnon Street Ste 1150 Dallas TX 75201 043590401 Campaign Supp TX 527 N/A TREC false TREC SPECIAL EVENTS INC 3100 McKinnon Street Ste 1150 Dallas TX 75201 464671936 SPECIAL EVENT TX 501(C)(3) 12 TREC FNDTN false false false false false true false false false false false false false false true true true true false false