2018-11-14T08:57:39-06:00 2017-12-31 GRANT THORNTON LLP 1000 WILSON BLVD STE 1400 ARLINGTON VA 22209 990 2017-01-01 800718545 The Real Estate Council Community Fund % CARLA BRANDT REAL 2146923603 3100 McKinnon Street Suite 1150 Dallas TX 75201 LINDA MCMAHON CEO/President 2146923603 2018-11-12 true MARY TORRETTA P00847851 7038477500 209.220.64.52 48105820183185000000 2018-11-14 P EE0445AAFC7BCEACA6A025D08834C35C00D758E8 BA837A66B1344850B3C0F550838EC02A61467D28 2017 2019-02-21 02:37:17Z Linda McMahon 3100 McKinnon Street Suite 1150 Dallas TX 75201 464154 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. 12 12 1 60 0 0 261500 229400 67426 79637 0 0 0 155117 328926 464154 0 0 0 0 100026 103238 0 0 48134 120940 267022 220966 370260 107960 93894 1738406 1582609 988836 739145 749570 843464 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 FOCUSED ON THE FOLLOWING CORE AREAS: HOUSING, EDUCATION, JOBS, AND THE ENVIRONMENT. false false 296208 0 79637 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. 296208 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 4 0 true 1 true false false false false false false false false false false X 12 12 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 STREET SUITE 1150 DALLAS TX 75201 Rod Washington Chairman 3.0 0.0 X X 0 0 0 Chad Schieber Treasurer 3.0 0.0 X X 0 0 0 Aaron Echols Director 3.0 0.0 X 0 0 0 Ces Escamilla Director 3.0 0.0 X 0 0 0 Joel S Schubert Director 3.0 0.0 X 0 0 0 Joseph F Griffith Director 3.0 0.0 X 0 0 0 Kate A Cavanaugh Director 3.0 0.0 X 0 0 0 Matt Siekielski Director 3.0 0.0 X 0 0 0 Ryan Panariso Director 3.0 0.0 X 0 0 0 Shery R Layne Director 3.0 0.0 X 0 0 0 Troy Daniel Director 3.0 0.0 X 0 0 0 Yelda D Tuz Director 3.0 0.0 X 0 0 0 DIANE CHAVEZ DIRECTOR 3.0 0.0 X 0 0 0 CHRIS ROACH DIRECTOR 3.0 0.0 X 0 0 0 DORA RAMIREZ DIRECTOR 3.0 0.0 X 0 0 0 LINDA MCMAHON CEO/PRESIDENT 37.0 3.0 X 0 340000 13342 MAGGIE PARKER SECRETARY 40.0 0.0 X 86868 0 7714 CARLA BRANDT CFO 3.0 37.0 X 0 113000 8193 86868 453000 29249 0 false true false NONE 0 229400 229400 LOAN REVENUE 522291 79637 79637 79637 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 INTERCOMPANY REIMBURSEMENT 900099 154736 154736 OTHER INCOME 900099 381 381 155117 464154 79637 155117 0 0 0 0 94582 75665 6621 12296 0 0 0 1801 1441 126 234 6855 5484 480 891 0 0 8583 6866 601 1116 0 0 0 29529 23623 2067 3839 21776 17421 1524 2831 2650 2120 185 345 10465 8372 733 1360 0 7925 6340 555 1030 3138 2510 220 408 0 5893 4714 413 766 17357 13886 1215 2256 0 4577 3662 320 595 1115 892 78 145 CATERING/HOTEL/FACILITY 52832 42266 3698 6868 PRODUCTION/AUDIO/VISUAL 39823 31858 2788 5177 PROFESSIONAL/CONTRACT SRVS 19951 15961 1396 2594 PROVISION FOR LOAN LOSSES 14453 11562 1012 1879 26955 21565 1886 3504 370260 296208 25918 48134 342456 131248 0 0 0 0 118750 57000 0 0 0 0 1265600 1388466 0 0 2603 1475 20513 16093 8997 4420 0 0 0 0 0 0 0 0 0 0 1738406 1582609 89414 122889 0 0 0 0 0 0 15842 34980 0 0 752411 422475 0 0 131169 158801 988836 739145 X 160570 349307 133000 38157 456000 456000 749570 843464 1738406 1582609 93894 X false true X true false X 300000 0 218000 261500 229400 1008900 0 0 300000 0 218000 261500 229400 1008900 360160 648740 0 0 0 0 0 0 155117 155117 1164017 187527 0.55733 0.70883 X false true X 20513 16093 4420 4420 0 DUE TO RELATED PARTIES 158801 158801 X 583900 119746 119746 464154 464154 490006 119746 119746 370260 370260 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, 2017 AND 2016, THERE WAS NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. false false false false false false false false false LINDA MCMAHON CEO/PRESIDENT 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, 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. 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 PAC 3100 McKinnon St Ste 1150 Dallas TX 75201 043590401 Campaign Supp TX 527 N/A TREC false TREC SPECIAL EVENTS INC 3100 McKinnon St Ste 1150 Dallas TX 75201 464671936 SPECIAL EVENT TX 501(C)(3) 07 TREC false false false false false true false false false false false false false true false true true true false The Real Estate Council Inc q 177872 FMV