2016-09-15T15:17:09-05:00 2015-12-31 GRANT THORNTON LLP 8300 THORN DRIVE SUITE 300 WICHITA KS 672262708 990 2015-01-01 752342376 The Real Estate Council Inc % 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 1490341 false X www.recouncil.com X 1990 TX The organization represents the commercial real estate industry in north Texas (primarily Dallas), focusing on long-term job growth and enhancing quality of life. 53 53 13 197 0 785880 864732 534165 625061 719 -8069 15 0 1320779 1481724 0 0 0 0 773106 895821 0 0 0 573128 810753 1346234 1706574 -25455 -224850 819945 593192 613377 611474 206568 -18282 THE REAL ESTATE COUNCIL, Inc. IS A COMMERCIAL REAL ESTATE TRADE ORGANIZATION FOUNDED IN 1990 TO BE THE UNITED VOICE OF THE INDUSTRY WITH THE GOAL OF IMPROVING THE QUALITY OF LIFE IN OUR COMMUNITY. false false WE ADD VALUE THROUGH EDUCATIONAL PROGRAMMING, LEADERSHIP TRAINING, MENTORING, AND HIGH LEVEL NETWORKING EVENTS. WE PAVE THE WAY FOR ECONOMIC DEVELOPMENT INITIATIVES THAT MAKE OUR REGION AN ATTRACTIVE PLACE TO DO BUSINESS. WE ADVOCATE ON BEHALF OF THE INDUSTRY THROUGH OUR GOVERNMENT AFFAIRS ACTIVITIES ON A LOCAL AND STATEWIDE BASIS. THESE EFFORTS PROTECT OUR MEMBER COMPANIES FROM BURDENSOME REGULATIONS AND LEGISLATION. false false false true 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 false false false false false false false false false false true false false true 11 0 true 13 true false false false false true true false X 53 53 false false false false false false false true true false false false true true true false true true true false X CARLA BRANDT 2146923603 3100 MCKINNON STREET SUITE 1150 Dallas TX 75201 Sue Ansel Chair 1.5 3.0 X X 0 0 0 Jim Berry Director 1.5 0.0 X 0 0 0 Diane Butler Vice Chairman 1.5 3.5 X X 0 0 0 Troy Butts Treasurer 1.5 3.0 X X 0 0 0 Kate Cavanaugh Director 1.5 0.0 X 0 0 0 Clint Corn Director 1.5 0.0 X 0 0 0 Andy Dow Director 1.5 0.0 X 0 0 0 Melissa Eastman Director 1.5 0.0 X 0 0 0 Clifford Fischer Director 1.5 0.0 X 0 0 0 William Flaherty Director 1.5 0.0 X 0 0 0 Jamie Fox Director 1.5 0.0 X 0 0 0 Nathan Golik Director 1.5 0.0 X 0 0 0 Ran Holman Director 1.5 0.0 X 0 0 0 William L Jackson Director 1.5 0.0 X 0 0 0 Suzan Kedron Director 1.5 1.5 X 0 0 0 Jim Knight Director 1.5 1.5 X 0 0 0 Eric Krueger Director 1.5 0.0 X 0 0 0 Michael A Krywucki Director 1.5 1.5 X 0 0 0 Thomas Kuhlmann Director 1.5 0.0 X 0 0 0 Frank Mihalopoulos Director 1.5 1.5 X 0 0 0 Andrew Richardson Director 1.5 0.0 X 0 0 0 Paul E Rowsey Past Chairman 1.5 0.0 X X 0 0 0 Tom Lawyer Director 1.5 0.0 X 0 0 0 Tanya Little Director 1.5 0.0 X 0 0 0 Frank McCafferty Director 1.5 0.0 X 0 0 0 Dennis Noebel Director 1.5 0.0 X 0 0 0 Bruno Pasquinelli Director 1.5 0.0 X 0 0 0 Jeffrey Price Director 1.5 0.0 X 0 0 0 Patrick Ramsier Director 1.5 0.0 X 0 0 0 Joe Samford Director 1.5 0.0 X 0 0 0 Alan Shor Director 1.5 0.0 X 0 0 0 Sabine Stener Director 1.5 0.0 X 0 0 0 John Turner Director 1.5 0.0 X 0 0 0 Bill Vanderstraaten Director 1.5 0.0 X 0 0 0 Barry Olson Director 1.5 0.0 X 0 0 0 Christina Bailey Director 1.5 0.0 X 0 0 0 Christopher Hipps Director 1.5 0.0 X 0 0 0 Clark pulliam Director 1.5 0.0 X 0 0 0 Dodge Carter Director 1.5 0.0 X 0 0 0 Duncan Fulton Director 1.5 0.0 X 0 0 0 Eric Beichler Director 1.5 0.0 X 0 0 0 Gerry Hedgcock Director 1.5 0.0 X 0 0 0 James Curtin Director 1.5 0.0 X 0 0 0 John Cullins Director 1.5 1.5 X 0 0 0 John Reichenbach Director 1.5 0.0 X 0 0 0 Kevin Kelley Director 1.5 0.0 X 0 0 0 Kim Bonfield Director 1.5 0.0 X 0 0 0 Kim Butler Director 1.5 0.0 X 0 0 0 Michael Geisler Director 1.5 0.0 X 0 0 0 Sam Gillespie Director 1.5 0.0 X 0 0 0 Susan Arledge Director 1.5 0.0 X 0 0 0 Susan Cox Secretary 1.5 0.0 X X 0 0 0 William Adams DIRECTOR 1.5 0.0 X 0 0 0 Linda McMahon CEO/President 33.0 7.0 X 289670 0 30780 Debby Hansen VP Marketing & Events 1.5 2.0 X 114345 0 13289 404015 0 44069 2 false true false NONE 0 848975 15757 864732 PROFESSIONAL DEVELOPMENT & EVENTS 812900 323385 323385 MANAGEMENT FEE 812900 301676 301676 625061 548 548 0 0 0 0 0 8617 -8617 -8617 -8617 0 0 0 0 1481724 625061 -8069 0 0 0 0 289670 0 484116 21147 42925 57963 0 0 28889 92500 0 0 164893 81290 69611 37471 0 83119 20993 0 9583 0 0 31222 9309 PROGRAM & EVENT EXPENSES 169012 ADVOCACY EXPENSES 8826 STAFF DEVELOPMENT 3440 BANK AND CREDIT CARD FEES 571 24 1706574 403 270 719166 200282 0 0 17696 26466 0 0 0 0 0 0 0 0 33291 75532 231252 91332 49389 139920 0 0 0 0 0 0 0 0 0 150722 819945 593192 55793 231200 0 0 557584 380274 0 0 0 0 0 0 0 0 0 0 0 0 613377 611474 X 206568 -18282 0 0 0 0 206568 -18282 819945 593192 -224850 X true X false true false true false false 93461 20769 72692 137791 70563 67228 139920 DUE FROM RELATED 150722 150722 0 0 X 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 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 TRECs 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 has not recorded an income tax liability for uncertain tax benefits. For the year ended December 31, 2015, there was no interest or penalties recorded or included in the financial statements. X X false false false Linda McMahon CEO/President 194670 0 95000 0 0 0 26107 0 5545 0 321322 0 45000 0 VOLUNTEERS Form 990, PART I, QUESTION 6 The Real Estate Council, Inc. (TREC) 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. EXECUTIVE COMMITTEE Form 990, Part VI, Line 1 THE CHAIRMAN, VICE-CHAIRMAN, SECRETARY, TREASURER, AND THE IMMEDIATE PAST-CHAIRMAN, PRESIDENT (NON-VOTING), AND ANY OTHER DIRECTORS SO DESIGNATED BY THE CHAIRMAN SHALL CONSTITUTE THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE MAY HOLD MEETINGS AT SUCH TIME AND PLACE AS THE EXECUTIVE COMMITTEE OR CHAIRMAN SHALL DETERMINE. THE CHAIRMAN SHALL PRESIDE AT ALL MEETINGS OF THE EXECUTIVE COMMITTEE. IN HIS OR HER ABSENCE, THE VICE CHAIRMAN SHALL PRESIDE AT SUCH MEETINGS. THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE ALL OF THE POWERS GRANTED TO THE BOARD OF DIRECTORS OF A TEXAS NON-PROFIT CORPORATION. FOR THE AVOIDANCE OF DOUBT, ANY POWERS TO ACT GRANTED TO THE BOARD UNDER THE TEXAS BUSINESS ORGANIZATIONS CODE (TBOC) AND OTHER APPLICABLE LAW SHALL BE VESTED IN THE EXECUTIVE COMMITTEE UNLESS THE EXECUTIVE COMMITTEE EXPRESSLY DELEGATES SUCH POWERS TO THE BOARD PURSUANT TO A RESOLUTION ADOPTED BY A MAJORITY OF THE EXECUTIVE COMMITTEE. FORM 990 REVIEW Form 990, Part VI, 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, Line 12c 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 ARRANGMENT 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, Line 15A & 15B CEO AND OTHER OFFICERS AND KEY EMPLOYEE'S 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, 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 Foundation 3100 McKinnon St Ste 1150 Dallas TX 75240 752510813 Comm outreach TX 501(c)(3) 09 NA false TREC Community Fund 3100 McKinnon St Ste 1150 Dallas TX 75240 800718545 Econ develop TX 501(c)(3) 07 NA false The Real Estate Council Political Action 3100 McKinnon St Ste 1150 Dallas TX 75240 043590401 Campaign supp TX N/A 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 false false false false false false false false false true true true true false false