2016-09-15T15:18:10-05:00 2015-12-31 GRANT THORNTON LLP 8300 THORN DRIVE SUITE 300 WICHITA KS 672262708 990 2015-01-01 752510813 The Real Estate Council Foundation % CARLA BRANDT REAL 2146923603 3100 McKinnon Street Suite 1150 Dallas TX 75201 LINDA MCMAHON CEO/President 2146923603 2016-09-15 true Rebecca Zecha P00648970 3162653231 2015 2017-02-10 21:41:12Z LINDA MCMAHON 3100 McKinnon Street Suite Dallas TX 75201 2255550 false X www.recouncil.com X 1994 TX To improve the quality of life in Dallas by utilizing the talent and resources of The Real Estate Council's members and other public support. 20 20 2 155 0 1580362 1411372 153390 62011 28603 38239 -395672 -233146 1366683 1278476 442702 460300 0 0 197507 206713 0 301676 301676 651820 493107 1292029 1461796 74654 -183320 2585072 2571117 631204 846157 1953868 1724960 TO IMPROVE THE QUALITY OF LIFE IN DALLAS BY UTILIZING THE TALENT AND RESOURCES OF THE REAL ESTATE COUNCIL'S MEMBERS AND OTHER PUBLIC SUPPORT. false false 247779 The Real Estate Council Foundation leverages the technical expertise of The Real Estate Council's membership to provide Pro Bono professional services to help nonprofits in the North Texas Region. 879272 460300 62011 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. 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. 1127051 true true false false false false false false false false true 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 true true false true false true 24 0 true 2 true false false false false false true true false false false false X 20 20 false false false false false false false true true false false false true true true false true true false false X CARLA BRANDT 2146923600 3100 MCKINNON STREET SUITE 1150 Dallas TX 75201 Sue Ansel Chairman 1.5 3.0 X X 0 0 0 Robert Bennett Director 1.5 0.0 X 0 0 0 Kent Howard Director 1.5 0.0 X 0 0 0 Greg Kraus Director 1.5 0.0 X 0 0 0 Shery Layne Director 1.5 0.0 X 0 0 0 Terrence Maiden Director 1.5 0.0 X 0 0 0 Courtney Naudo Director 1.5 0.0 X 0 0 0 Deborah Newman Director 1.5 0.0 X 0 0 0 Jud L Pankey Director 1.5 0.0 X 0 0 0 Chad Schieber Director 1.5 0.0 X 0 0 0 Katy Slade Director 1.5 0.0 X 0 0 0 Tucker Thomas Director 1.5 0.0 X 0 0 0 Jill Ibison-Vessels Director 1.5 0.0 X 0 0 0 Jason Mattox Director 1.5 1.5 X 0 0 0 Jonathan Wood Director 1.5 0.0 X 0 0 0 Natalie Anderson Director 1.5 0.0 X 0 0 0 Susan Cox Secretary 1.5 0.0 X X 0 0 0 Troy Butts Treasurer 1.5 3.0 X X 0 0 0 Vicky Gunning Director 1.5 0.0 X 0 0 0 Diane Butler Vice Chairman 1.5 3.5 X X 0 0 0 Linda McMahon CEO/President 1.5 38.5 X 0 289670 30780 Robin Minick Foundation Director 36.5 3.5 X 105481 0 12511 105481 289670 43291 1 false true false None 0 1288204 123168 1411372 PROGRAM INCOME 611710 62011 62011 62011 42861 42861 0 0 0 0 0 3369 361 8352 3369 -7991 -4622 -4622 735576 1288204 968722 -233146 -233146 0 0 0 1278476 62011 -194907 460300 460300 0 0 0 0 0 174917 166171 8746 5248 4986 262 10651 10118 533 15897 15102 795 0 0 28862 27419 1443 0 301676 301676 0 46721 44385 2336 6750 6413 337 35464 33691 1773 36768 34930 1838 0 76982 73133 3849 4548 4321 227 0 22822 21681 1141 0 0 34473 32749 1724 7633 7251 382 PROJECT EXPENSES 74815 71822 2993 PRINTING 27718 26609 1109 TAXES & LICENSES 7902 7586 316 MOVING RELOCATION 6134 5889 245 75515 72495 3020 1461796 1127051 33069 301676 0 0 1351494 778373 0 0 15575 31825 0 0 0 0 0 0 0 0 35276 36825 241679 92040 115672 149639 1067055 1574455 0 0 0 0 0 0 0 0 2585072 2571117 200754 187493 362450 500281 68000 10000 0 0 0 0 0 0 0 0 0 0 0 148383 631204 846157 X 1921341 1715031 32527 9929 0 0 1953868 1724960 2585072 2571117 -183320 -45588 X false true X true false X 457483 1063894 1166237 1580362 1411372 5679348 0 0 457483 1063894 1166237 1580362 1411372 5679348 70655 5608693 30886 16424 38841 31319 42861 160331 0 1047062 210075 697807 437074 735576 3127594 8967273 3845873 0.62546 0.61698 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 99461 12494 86967 142218 79546 62672 149639 0 RELATED PARTY RECEIVABLES 148383 148383 X 2616409 -45588 406808 361220 2255189 -976713 -976713 1278476 2845317 406808 976713 1383521 1461796 1461796 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, 2015 and 2014, there were no interest or penalties recorded or included in the financial statements. SCHEDULE D, PART XI, LINE 2D SCHEDULE D, PART XI, LINE 4B Reconciliation of Revenue AMOUNT ON FORM 990, NOT ON LINE 1 Special Event Expenses Reported in Part VIII ($968,722) Loss on asset disposal recorded in Part VIII ($ 7,991) ---------- TOTAL ($976,713) ---------- SCHEDULE D, PART XII, LINE 2D RECONCILIATION OF EXPENSES AMOUNT ON FORM 990, NOT ON LINE 1 Special Event Expenses Recorded in Part VIII ($968,722) Loss on asset disposal Recorded in Part VIII ($ 7,991) ---------- TOTAL ($976,713) ----------- FightNight 1281505 817777 463728 1271 219158 335343 51926 Giving Gala 639150 421225 217925 4201 130986 143849 37106 3 103125 49202 53923 3887 15559 17431 8005 2023780 1288204 735576 9359 365703 496623 97037 968722 -233146 true Congress for the New Urbanism 140 S Dearborn Street STE 404 Chicago IL 60603 650483737 501(C)(3) 10000 Sustaninable Community Partner volunteer event Commit 3963 Maple Avenue Ste 290 Dallas TX 75219 800790222 501(C)(3) 20000 Donation Austin Street Center 2016 2929 Hickory St Dallas TX 75226 751881365 501(C)(3) 45000 Re-design and renovation of entryway space Care Center Ministries 2016 7912 Antoinette St Dallas TX 75217 752306428 501(C)(3) 25000 Construction of playground/community gathering spa Circuit Trail Conservancy 2016 2001 Bryant St Ste 3275 Dallas TX 75201 475680271 501(C)(3) 100000 Citizens Development Center 20 8800 Ambassador Row Dallas TX 75247 751008422 501(C)(3) 70000 ALC Project- outdoor garden space renovation Girl Scouts of Northeast Texas 6001 Summerside Dr Dallas TX 75252 751101571 501(C)(3) 50000 Re-design and renovation of camping pod Jubilee Park and Community Cen 917 Bank St Dallas TX 75223 752726296 501(C)(3) 30000 Affordable housing initiative support St Phillips School and Commun 1600 Pennsylvania Ave Dallas TX 75215 751097360 501(C)(3) 30000 Athletic field house remodel Trinity Environmental Academy 3837 Simpson Stuart Rd Dallas TX 75214 455584496 501(C)(3) 20000 Design and construction of outdoor play space Youth with Faces 2016 6333 E Mockingbird Lane Suite 147 Dallas TX 75214 300018778 501(C)(3) 50000 Construction of greenhouse for youth clients ScholarShot Inc 2904 Swiss Avenue Dallas TX 75204 270232250 501(C)(3) 25000 25th Anniversary Scholarship 13 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. 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. RECIPIENTS, EXCLUDING THE VARIOUS OTHER PROJECTS. X X false false false false false false false false false Linda McMahon CEO/President 0 194670 0 95000 0 0 0 26107 0 5545 0 321322 0 45000 CONTINGENT COMPENSATION SCHEDULE J, PART I, QUESTIONS 6A & 6B Linda McMahon, president, receives a bonus contingent on the overall performance of the Real Estate Council foundation, the Real Estate Council and the Real Estate Council Community Fund. 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. Delegation of Authority Form 990, Part VI, Section A, line 1B the executive committee reviewed and approved the financial statements. Form 990 Review Process Form 990, Part VI, Section B, 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 CHAIRMAN OF THE BOARD FOR REVIEW AND APPROVAL. Conflict of Interest Policy Form 990, Part VI, Section B, Line 12c TRECF follows a conflict of interest policy. The purpose of this conflict of interest policy is to protect the corporation's interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or director 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 with governing board delegated powers 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 governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board 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 governing board or committee meeting, but after the presentation, that 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 governing 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 governing board or committee shall determine whether the corporation 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 governing board or committee shall determine by a majority vote of the disinterested directors 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 it shall make its decision as to whether to enter into the transaction or arrangement. Executive Compensation Form 990, Part VI, Section B, Line 15a THE CEO AND OTHER OFFICERS OR KEY EMPLOYEES' COMPENSATION IS DETERMINED BY A COMPENSATION COMMITTEE THAT DETERMINES THE SALARY AND BONUS STRUCTURE. THIS IS REVIEWED ANNUALLY BY THE COMPENSATION COMMITTEE. Governing Documents Form 990, Part VI, Section C, Line 19 The Financial Statements, Conflict of Interest Policy, 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 Political Action 3100 McKinnon St Ste 1150 Dallas TX 75201 043590401 Campaign Supp TX N/A N/A NA false The Real Estate Council Community Fund 3100 McKinnon St Ste 1150 Dallas TX 75201 800718545 Econ Dev TX 501(C)(3) 07 NA false TREC SPECIAL EVENTS INC 3100 McKinnon St Ste 1150 DALLAS TX 75201 464671936 SPECIAL EVENT TX 501(C)(3) 07 NA false The Real Estate Council Community Fund 3100 McKinnon St Ste 1150 Dallas TX 75201 800818545 Loan Fund TX false false false false true false false false false false false false false true true true true true true The Real Estate Council Inc n 371875 FMV