2018-11-14T08:57:55-06:00 2017-12-31 GRANT THORNTON LLP 1000 WILSON BLVD STE 1400 ARLINGTON VA 22209 990 2017-01-01 464671936 TREC SPECIAL EVENTS INC % CARLA BRANDT TREC 2146923603 3100 MCKINNON STREET Suite 1150 DALLAS TX 75201 LINDA MCMAHON CEO/President 2146923603 2018-11-12 true Mary Torretta P00847851 7038477500 209.220.64.52 48105820183185000003 2018-11-14 P EE0445AAFC7BCEACA6A025D08834C35C00D758E8 BA837A66B1344850B3C0F550838EC02A61467D28 2017 2019-02-21 02:37:17Z LINDA MCMAHON 3100 MCKINNON STREET SUITE 1150 DALLAS TX 75201 2140530 false X WWW.RECOUNCIL.COM X 2014 TX TO ORGANIZE, PROMOTE, AND SPONSOR CHARITABLE EVENTS TO RAISE FUNDS EXCLUSIVELY TO SUPPORT AND BENEFIT THE REAL ESTATE COUNCIL FOUNDATION. 5 3 4 166 0 0 1345389 1068816 0 0 0 0 -387315 106564 958074 1175380 668185 847284 0 0 155803 164710 0 0 306766 135250 152439 959238 1164433 -1164 10947 114108 138357 116971 130273 -2863 8084 X TO ORGANIZE, PROMOTE, AND SPONSOR CHARITABLE EVENTS TO RAISE FUNDS EXCLUSIVELY TO SUPPORT AND BENEFIT THE REAL ESTATE COUNCIL FOUNDATION. FOR NEIGHBORHOOD REDEVELOPMENT, JOB CREATION, OTHER ECONOMIC OPPORTUNITIES, AND AFFORDABLE HOUSING. false false 847284 847284 0 ORGANIZE, PROMOTE, AND SPONSOR CHARITABLE EVENTS IN WHICH THE PROCEEDS WILL SUPPORT THE REAL ESTATE COUNCIL FOUNDATION TO INVEST FUNDS IN NONPROFIT ORGANIZATIONS IN NORTH TEXAS ON INITIATIVES IN FOUR KEY AREAS: EDUCATION, HOUSING, JOBS, AND ENVIRONMENT. 847284 true true false false false false false false false false false false false false true true true false false false false false false false true false false true false true false false false false false false false false false false false false false true false true false true 20 0 true 4 true false false false false false false false false false false X 5 3 false false false false false false false true true false false false true true true false true false false false X CARLA BRANDT 2146923603 3100 MCKINNON SUITE 1150 Dallas TX 75201 Barry J Olson Director 1.5 2.5 X 0 0 0 Greg Kraus Director 1.5 5.5 X 0 0 0 Lucy Billingsley Director 1.5 0.0 X 0 0 0 Robin Minick Director 1.5 38.5 X 0 100196 7622 Debby Hanson Director - Term 01/2017 1.5 0.0 X 4687 0 141 Linda McMahon PRESIDENT/CEO 1.5 38.5 X 0 340000 13342 Carla Brandt Secretary/Treasurer 1.5 38.5 X 0 113000 8193 4687 553196 29298 0 false true false 0 1068315 501 1068816 0 0 0 0 0 0 0 0 1071215 1068314 965150 106065 106096 0 0 0 0 0 0 OTHER INCOME 900099 499 499 499 1175380 106595 847284 847284 0 0 0 0 0 155605 155605 140 140 5038 5038 3927 3927 134566 134566 0 10308 10308 0 0 0 1382 1382 0 481 481 0 0 0 993 993 0 65 65 0 0 0 75 75 PROGRAM & EVENT EXPENSES 4569 4569 1164433 847284 10383 306766 104509 102307 0 0 0 0 5130 14725 0 0 0 0 0 0 0 0 4469 21325 0 0 0 0 0 0 0 0 0 0 0 0 114108 138357 548 122 0 0 85765 18500 0 0 0 0 0 0 0 0 0 0 30658 111651 116971 130273 X -2863 8084 0 0 0 0 -2863 8084 114108 138357 10947 X false true X true false X X 1 THE REAL ESTATE COUNCIL FOUNDATION 752510813 7 true 847284 0 1 847284 0 0 0 0 1345389 1068816 2414205 0 0 0 0 0 1345389 1068816 2414205 0 2414205 0 0 568297 1071714 1640011 4054216 X true false false false false false false false false false false false false false false true false 0 DUE TO RELATED PARTIES 111651 111651 X 2459115 318585 965150 1283735 1175380 1175380 2448168 318585 965150 1283735 1164433 1164433 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 SE 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 SES 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 SE HAS NOT RECORDED AN INCOME TAX LIABILITY FOR UNCERTAIN TAX BENEFITS. FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016, THERE WERE NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. RECONCILIATION OF REVENUE PER AFS FUNDRAISING EXPENSES RECLASSED TO REVENUE $965,150 RECONCILIATION OF EXPENSES PER AFS FUNDRAISING EXPENSES RECLASSED TO REVENUE $965,150 FIGHTNIGHT 1419633 734433 685200 2364 245437 333351 41734 GIVING GALA 606112 274762 331350 62 126351 128713 40290 3 113785 59120 54665 5057 18358 22872 561 2139530 1068315 1071215 7483 390146 484936 82585 965150 106065 true The Real Estate Council Foundation 3100 McKinnon St Ste 1150 Dallas TX 75201 752510813 501(C)(3) 847284 GENERAL SUPPORT 1 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 EACHQUALIFIED 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. false false false false false false false false false Linda McMahon PRESIDENT/CEO 0 270000 0 70000 0 0 0 8100 0 5242 0 353342 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, QUESTION 6 TREC SPECIAL EVENTS, INC. (TREC SE) UTILIZES VOLUNTEERS TO SERVE ON THE BOARD OF DIRECTORS; OVERSEE COMMITTEES; AND TO ASSIST WITH ALL OPERATIONS. VOLUNTEERS ASSIST WITH ALL PROGRAMS AND EVENTS. FORM 990 REVIEW 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 TREC SE FOLLOWS A CONFLICT OF INTEREST POLICY. 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. 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, LINES 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 St Ste 1150 Dallas TX 75201 752342376 R E Support TX 501(C)(6) N/A NA false The Real Estate Council Foundation 3100 McKinnon St Ste 1150 Dallas TX 75201 752510813 Comm outreach TX 501(c)(3) 07 TREC false The Real Estate Council Community Fund 3100 McKinnon St Ste 1150 Dallas TX 75201 800718545 Econ develop TX 501(c)(3) 07 TREC false The Real Estate Council Political Action 3100 McKinnon St Ste 1150 Dallas TX 75201 043590401 Campaign supp TX 527 N/A TREC false false true false false false false false false false false false false false true true false true true false THE REAL ESTATE COUNCIL INC N 149670 FMV THE REAL ESTATE COUNCIL INC O 89883 FMV THE REAL ESTATE COUNCIL INC Q 575984 FMV