2016-09-15T15:17:42-05:00 2015-12-31 GRANT THORNTON LLP 8300 THORN DRIVE SUITE 300 WICHITA KS 672262708 990 2015-01-01 800718545 The Real Estate Council Community Fund % CARLA BRANDT REAL 2146923603 3100 McKinnon Street Suite 1150 Dallas TX 75201 LINDA MCMAHON 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 243690 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. 8 8 1 52 0 0 218000 7018 25690 0 -3450 0 0 7018 240240 0 0 0 0 0 50537 0 0 0 15334 62837 15334 113374 -8316 126866 814782 1123530 300038 481920 514744 641610 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 0 0 25690 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. 0 true true false false false false false false false 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 0 0 1 true false false false false false false false false false false X 8 8 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 Gilbert Gerst Chairman 1.5 0.0 X X 0 0 0 Susan L Fish Director 1.5 0.0 X 0 0 0 Mattye G Jones Director 1.5 0.0 X 0 0 0 Yelda D Tuz Director 1.5 0.0 X 0 0 0 Diane Chavez Director 1.5 0.0 X 0 0 0 Dora ramirez Director 1.5 0.5 X 0 0 0 Joseph Griffith Director 1.5 0.0 X 0 0 0 Matt Siekielski Director 1.5 0.0 X 0 0 0 Linda McMahon President 1.5 38.5 X 0 289670 30780 Robin Minick Secretary 1.5 38.5 X 0 105481 17963 0 395151 48743 0 false true false NONE 0 218000 218000 LOAN REVENUE 522291 25690 25690 25690 0 0 0 0 0 0 3450 -3450 -3450 -3450 0 0 0 0 240240 25690 -3450 X 0 0 0 0 0 0 42413 42413 0 4316 4316 3808 3808 0 0 0 0 0 0 13037 13037 167 167 308 308 5192 5192 0 10 10 2914 2914 0 2394 2394 3097 3097 0 6202 6202 1074 1074 PROVISION FOR LOAN LOSSES 28092 28092 ORGANIZATIONAL DUES 250 250 PARKING 86 86 BANK CHARGES 13 13 1 1 113374 0 113374 0 799076 523760 0 0 0 0 0 50000 0 0 0 0 72 533747 0 0 169 1001 20513 5491 15465 15022 0 0 0 0 0 0 0 0 0 0 814782 1123530 300038 307021 0 0 0 0 0 0 0 0 0 0 0 174269 0 0 0 630 300038 481920 X 108744 185610 0 0 406000 456000 514744 641610 814782 1123530 126866 X false true X true false X 80000 150000 300000 0 218000 748000 0 0 80000 150000 300000 0 218000 748000 315120 432880 0 0 0 748000 40464 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20513 5491 15022 15022 0 DUE TO RELATED PARTIES 630 630 X 243690 243690 -3450 -3450 240240 116824 3450 3450 113374 113374 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, 2015 and 2014, there was no interest or penalties recorded or included in the financial statements. Reconciliation of Revenue Schedule D, Part XI, Line 4b Loss on Asset Disposal reclassed to Part VIII $(3,450) Reconciliation of Expenses Schedule D, Part XII, Line 2d Loss on Asset Disposal reclassed to Part VIII $3,450 X X false false false false false false false false false Linda McMahon President 0 194670 0 95000 0 0 0 26107 0 5545 0 321322 0 45000 Volunteers Form 990, PART I, QUESTION 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 OF THE TRADE ASSOCIATION. VOLUNTEERS ASSIST WITH ALL PROGRAMS AND EVENTS. Form 990 Review Process Form 990, Part VI, Section B, Line 11b A THOROUGH REVIEW IS PERFORMED BY THE FINANCE DIRECTOR. 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 TRECCF 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. 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. FORM 990 PART IX LINE 11G DESCRIPTION:PROFESSIONAL/CONTRACT SERVICE TOTAL FEES:13037 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 NA false The Real Estate Council PAC 3100 McKinnon St Ste 1150 Dallas TX 75201 043590401 Campaign Supp TX 527 N/A NA false TREC SPECIAL EVENTS INC 3100 McKinnon St Ste 1150 DALLAS TX 75201 464671936 SPECIAL EVENT TX 501(C)(3) 07 NA false false false false false true false false false false false false false true true true false false false