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NATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT TRUST INC: Form 990, tax year 2025

View the entire original 990 at ProPublica ↗

Organization
NATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT TRUST INC (EIN 27-3586050)
Tax period
2025-01-01 to 2025-12-31
Filed
2026-05-13
IRS object ID
202621339349303212
Schema version
2025v4.1
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2026-05-13T10:10:27-05:00ReturnTs
Tax Period End2025-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN420714325PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1RSM US LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1919 EAST MAIN STREET SUITE 1800AddressLine1Txt
CityRICHMONDCityNm
State AbbreviationVAStateAbbreviationCd
ZIP23219ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2025-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN273586050EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1NATIONAL ASSOCIATION OF REAL ESTATEBusinessNameLine1Txt
Business Name Line2INVESTMENT TRUSTS (NAREIT)BusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlNATIBusinessNameControlTxt
Phone2027399400PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11875 I STREET NW 500AddressLine1Txt
CityWASHINGTONCityNm
State AbbreviationDCStateAbbreviationCd
ZIP200065413ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonSTEVEN WECHSLERPersonNm
Person TitleEVP, FINANCE & FISCAL MGMTPersonTitleTxt
Phone2027399400PhoneNum
Signature2026-05-12SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMEREDITH BELLPreparerPersonNm
PTINP01696827PTIN
Phone8042822121PhoneNum
Preparation2026-05-12PreparationDt
FieldValueIRS element (for citing)
Tax2025TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

Doing Business As Name DoingBusinessAsName

FieldValueIRS element (for citing)
Business Name Line1NAREITBusinessNameLine1Txt
FieldValueIRS element (for citing)
Principal OfficerSTEVEN WECHSLERPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line11875 I STREET NW 500AddressLine1Txt
CityWASHINGTONCityNm
State AbbreviationDCStateAbbreviationCd
ZIP200065413ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$47,206,282GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressWWW.REIT.COMWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2010FormationYr
Legal Domicile StateDCLegalDomicileStateCd
Activity Or MissionFURTHER THE INTERESTS OF REITS AND OTHERS THAT OWN, OPERATE, & FINANCE INCOME-PRODUCING R.E.ActivityOrMissionDesc
Voting Members Governing Body17VotingMembersGoverningBodyCnt
Voting Members Independent17VotingMembersIndependentCnt
Total Employee49TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$145,000TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$11,691NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$26,655,091PYProgramServiceRevenueAmt
CY Program Service Revenue$25,600,224CYProgramServiceRevenueAmt
PY Investment Income$1,412,447PYInvestmentIncomeAmt
CY Investment Income$2,262,653CYInvestmentIncomeAmt
PY Other Revenue$9,234,681PYOtherRevenueAmt
CY Other Revenue$8,549,468CYOtherRevenueAmt
PY Total Revenue$37,302,219PYTotalRevenueAmt
CY Total Revenue$36,412,345CYTotalRevenueAmt
PY Grants And Similar Paid$130,000PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$130,000CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$18,804,190PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$19,758,357CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$14,617,510PYOtherExpensesAmt
CY Other Expenses$15,024,657CYOtherExpensesAmt
PY Total Expenses$33,551,700PYTotalExpensesAmt
CY Total Expenses$34,913,014CYTotalExpensesAmt
PY Revenues Less Expenses$3,750,519PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$1,499,331CYRevenuesLessExpensesAmt
Total Assets BOY$47,548,466TotalAssetsBOYAmt
Total Assets EOY$54,916,140TotalAssetsEOYAmt
Total Liabilities BOY$22,367,749TotalLiabilitiesBOYAmt
Total Liabilities EOY$25,495,339TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$25,180,717NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$29,420,801NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTHE NATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT TRUSTS (NAREIT) IS THE TRADE ASSOCIATION FOR REITS AND PUBLICLY TRADED REAL ESTATE COMPANIES WITH AN INTEREST IN THE U.S. NAREIT'S PURPOSE IS TO FURTHER THE INTERESTS OF ITS MEMBERS WHICH INCLUDE REITS AND OTHER BUSINESSES THAT OWN, OPERATE, AND FINANCE INCOME-PRODUCING REAL ESTATE.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
DescGOVERNMENT RELATIONS ARE INTEGRAL TO KEEPING MEMBERS AND THE PUBLIC INFORMED OF THE LEGISLATIVE ENVIRONMENT SURROUNDING REITS AND THE REAL ESTATE INDUSTRY AS A WHOLE.Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
DescCOMMUNICATIONS AND PUBLICATIONS ARE PRODUCED AND DISSEMINATED TO KEEP MEMBERSHIP, AND THE PUBLIC AT LARGE, INFORMED OF CURRENT INDUSTRY ISSUES. PUBLICATIONS INCLUDE INDUSTRY EDUCATIONAL MATERIALS, AND RESULTS OF INDUSTRY AND EDUCATIONAL RESEARCH.Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

FieldValueIRS element (for citing)
DescCONFERENCES AND SEMINARS BRING MEMBERS AND EXPERTS IN THE BUSINESS OF REAL ESTATE INVESTMENT TRUSTS TOGETHER TO CONFER, CONSULT, AND COOPERATE TO ADDRESS INDUSTRY ISSUES.Desc
FieldValueIRS element (for citing)
Described In Section501c30DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign ActyYes (1)PoliticalCampaignActyInd
Subject To Proxy TaxYes (1)SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other AssetsYes (1)ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (1)ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign ActivitiesYes (1)ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To OrganizationsYes (1)GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl EntYes (1)RelatedOrganizationCtrlEntInd
Transaction With Control EntYes (1)TransactionWithControlEntInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document46IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee49EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitYes (1)UnrelatedBusIncmOverLimitInd
Form990 T FiledYes (1)Form990TFiledInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible ContributionsYes (1)NondeductibleContributionsInd
Nondeductible Contri DisclYes (1)NondeductibleContriDisclInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtYes (1)SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members17GoverningBodyVotingMembersCnt
Independent Voting Member17IndependentVotingMemberCnt
Family Or Business RlnYes (1)FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local ChaptersYes (1)LocalChaptersInd
Policies Reference ChaptersYes (1)PoliciesReferenceChaptersInd
Form990 Provided To Gvrn Body0Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn0AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc0RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ROBERTO DIAZ EVP FINANCE & FISCAL MANAGEMENTBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2027399400PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11875 I STREET NW 500AddressLine1Txt
CityWASHINGTONCityNm
State AbbreviationDCStateAbbreviationCd
ZIP200065413ZIPCd
FieldValueIRS element (for citing)
Info In Schedule O Part VIIYes (X)InfoInScheduleOPartVIIInd

Form990 Part VII Section A Form990PartVIISectionAGrp (45 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtKey EmployeeKeyEmployeeIndHighest Compensated EmployeeHighestCompensatedEmployeeInd
CONOR C FLYNN
CHAIR1.000.00Yes (X)Yes (X)$0$0$0
SUMIT ROY
FIRST VICE CHAIR1.000.00Yes (X)Yes (X)$0$0$0
MARK J PARRELL
SECOND VICE CHAIR1.000.00Yes (X)Yes (X)$0$0$0
LESLIE D HALE
TREASURER1.000.00Yes (X)Yes (X)$0$0$0
PETER E BACCILE
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
H ERIC BOLTON JR
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
SCOTT M BRINKER
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
W MATTHEW KELLY
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
THEODORE J KLINCK
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
MARSHALL A LOEB
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
LISA PALMER
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
EDWARD B PITONIAK
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
ANDREW P POWER
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
JOSEPH D RUSSELL JR
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
BENJAMIN W SCHALL
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
JAMES M TAYLOR JR
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
STEVEN VONDRAN
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
SUMIT ROY
CHAIR1.000.00Yes (X)Yes (X)$0$0$0
MARK J PARRELL
FIRST VICE CHAIR1.000.00Yes (X)Yes (X)$0$0$0
LESLIE D HALE
SECOND VICE CHAIR1.000.00Yes (X)Yes (X)$0$0$0
BENJAMIN W SCHALL
TREASURER1.000.00Yes (X)Yes (X)$0$0$0
ANGELA M AMAN
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
PETER E BACCILE
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
SCOTT M BRINKER
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
CONOR C FLYNN
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
W MATTHEW KELLY
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
THEODORE J KLINCK
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
DANIEL S LETTER
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
MARSHALL A LOEB
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
EDWARD B PITONIAK
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
ANDREW P POWER
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
JOSEPH D RUSSELL JR
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
JAMES M TAYLOR JR
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
STEVEN VONDRAN
EXECUTIVE BOARD MEMBER1.000.00Yes (X)$0$0$0
STEVEN WECHSLER
PRESIDENT & CEO40.000.00Yes (X)$2,902,886$0$71,812
CATHERINE BARRE
EVP, POLICY & PUBLIC AFFAIRS & GC39.001.00Yes (X)$882,405$0$88,375
ROBERTO DIAZ
EVP, FINANCE & FISCAL MANAGEMENT39.001.00Yes (X)$454,826$0$68,451
JOHN WORTH
EVP, RESEARCH & INVESTOR OUTREACH40.000.00$691,053$0$86,908Yes (X)
MATTHEW BECHARD
EVP, COMMS. & INDUSTRY AFFAIRS40.000.00$488,661$0$82,947Yes (X)
VICTOR DRISTAS
EVP, OPERATIONS40.000.00$429,083$0$80,876Yes (X)
ROBERT DIBBLEE
SVP, GOVERNMENT RELATIONS37.003.00$600,388$0$72,274Yes (X)
JOHN JONES
SVP, GOVERNMENT RELATIONS36.004.00$527,874$0$49,362Yes (X)
VICTORIA ROSTOW
SVP, REG. AFFAIRS & DEPUTY GC40.000.00$526,139$0$50,916Yes (X)
KURT WALTEN
SVP, INVESTMENT AFFAIRS40.000.00$522,439$0$70,480Yes (X)
CHRISTOPHER DRULA
SVP, FINANCIAL STANDARDS40.000.00$514,067$0$78,423Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$8,539,821TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$800,824TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K38IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
FREEMAN DECORATING CO
PO BOX 734596DALLASTX753734596AUDIO VISUAL & SET PRODUCTION SERVICES$1,758,722
MILLER STRATEGIES LLC
PO BOX 625BUDATX78610STRATEGIC ADVISORY CONSULTANT$336,000
ERNST & YOUNG US LLP
200 PLAZA DRIVESECAUCUSNJ07094STRATEGIC ADVISORY CONSULTANT$331,300
ANTHOLOGY MARKETING GROUP INC
1003 BISHOP STREET 9TH FLOORHONOLULUHI96813HAWAII STRATEGIC ADVISORY CONSULTANT$314,327
AKIN GUMP STRAUSS HAUER & FELD LLP
2001 K STREET NWWASHINGTONDC200065413STRATEGIC ADVISORY CONSULTANT$250,000
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K22CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (4 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmtUnrelated Business RevenueUnrelatedBusinessRevenueAmt
DUES900099$19,503,627$19,503,627
CONFERENCES900099$5,874,487$5,874,487
PUBLICATIONS541800$145,000$145,000
PUBLICATIONS900099$77,110$77,110
FieldValueIRS element (for citing)
Total Program Service Revenue$25,600,224TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$1,417,664TotalRevenueColumnAmt
Exclusion$1,417,664ExclusionAmt

Royalties Revenue RoyaltiesRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$8,467,223TotalRevenueColumnAmt
Exclusion$8,467,223ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$11,638,926SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$10,793,937SecuritiesAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$844,989SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$844,989TotalRevenueColumnAmt
Exclusion$844,989ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescMISCELLANEOUSDesc
Business900099BusinessCd
Total Revenue Column$82,245TotalRevenueColumnAmt
Exclusion$82,245ExclusionAmt
FieldValueIRS element (for citing)
Other Revenue Total$82,245OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$36,412,345TotalRevenueColumnAmt
Related Or Exempt Func Income$25,455,224RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$145,000UnrelatedBusinessRevenueAmt
Exclusion$10,812,121ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$130,000TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$6,862,466TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$10,295,429TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$555,152TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$1,247,421TotalAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$797,889TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$350,182TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$78,151TotalAmt

Fees For Services Lobbying FeesForServicesLobbyingGrp

FieldValueIRS element (for citing)
Total$2,866,501TotalAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$120,767TotalAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$1,657,371TotalAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$167,098TotalAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$123,643TotalAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$179,444TotalAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$1,037,038TotalAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$456,568TotalAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$4,337,593TotalAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$205,361TotalAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$127,426TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmt
DUES AND SUBSCRIPTIONS$800,695
INTERNET SERVICES$519,896
SPONSORSHIPS$507,681
TAXES$507,539

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$981,703TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$34,913,014TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$54,780BOYAmt
EOY$96,988EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$3,345,655BOYAmt
EOY$3,457,995EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$2,011,088BOYAmt
EOY$1,658,549EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$718,492BOYAmt
EOY$727,580EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$1,908,237LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$1,589,236LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$463,357BOYAmt
EOY$319,001EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$35,054,623BOYAmt
EOY$43,708,113EOYAmt

Intangible Assets IntangibleAssetsGrp

FieldValueIRS element (for citing)
BOY$569,794BOYAmt
EOY$569,794EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$5,330,677BOYAmt
EOY$4,378,120EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$47,548,466BOYAmt
EOY$54,916,140EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$8,833,614BOYAmt
EOY$10,234,446EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$7,425,577BOYAmt
EOY$10,156,097EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$6,108,558BOYAmt
EOY$5,104,796EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$22,367,749BOYAmt
EOY$25,495,339EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$25,180,717BOYAmt
EOY$29,420,801EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$25,180,717BOYAmt
EOY$29,420,801EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$47,548,466BOYAmt
EOY$54,916,140EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$1,499,331ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$2,740,753NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule C IRS990ScheduleC

FieldValueIRS element (for citing)
Political Expenditures$47,350PoliticalExpendituresAmt
Volunteer Hours0VolunteerHoursCnt
Expended527 Activities$47,350Expended527ActivitiesAmt
Total Exempt Function Expend$47,350TotalExemptFunctionExpendAmt
Form1120 POL FiledYes (1)Form1120POLFiledInd

Section527 Political Org Section527PoliticalOrgGrp (70 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINContributions Rcvd DlvrContributionsRcvdDlvrAmtPaid Internal FundsPaidInternalFundsAmt
NAREIT POLITICAL ACTION COMMITTEE
1875 I STREET NW SUITE 500WASHINGTONDC200065413521930172$647,636
MARYLAND DEMOCRATIC PARTY
275 WEST STREET SUITE 70ANNAPOLISMD21401520908106$5,000
CITIZENS FOR ADRIENNE JONES
PO BOX 118RANDALLSTOWNMD21133522065770$1,500
CITIZENS FOR BILL FERGUSON
27 S ANN STBALTIMOREMD21231272423021$1,500
COMMITTEE TO ELECT CT WILSON
PO BOX 618BRYANS RDMD20616823030072$1,500
FRIENDS OF GUY GUZZONE
PO BOX 278SIMPSONVILLEMD21150522054786$1,500
FRIENDS OF SYLVIA LUKE
PO BOX 2804HONOLULUHI96803990335285$1,500
WILL SMITH FOR MARYLAND
PO BOX 8801SILVER SPRINGMD20907462577519$1,500
CITIZENS FOR BRIAN FELDMAN
1200 LIGHT ST UNIT BBALTIMOREMD21230522344445$1,000
FRIENDS FOR DONOVAN DELA CRUZ
PO BOX 860340WAHIAWAHI96786431970346$1,000
FRIENDS OF CHRIS TOSHIRO TODD
96 KELELA STHILOHI96720815382287$1,000
FRIENDS OF DRU MAMO KANUHA
PO BOX 4709KAILUAKONAHI96745455447325$1,000
FRIENDS OF GLENN WAKAI
3054 ALA POHA PLACE 2009HONOLULUHI96818851685404$1,000
FRIENDS OF JARRETT KEOHOKALOLE
PO BOX 6603KANEOHEHI96744465194917$1,000
FRIENDS OF LINDA ICHIYAMA
PO BOX 1707AIEAHI96701271143118$1,000
FRIENDS OF LYNN DECOITE
PO BOX 1032KAUNAKAKAIHI96748473634001$1,000
FRIENDS OF MICHELLE KIDANI
415 S BERETANIA STHONOLULUHI96813461295463$1,000
FRIENDS OF NADINE
PO BOX 1005LIHUEHI96766271945967$1,000
FRIENDS OF SEAN QUINLAN
66-496 PAALAA RDHALEIWAHI96712812460936$1,000
FRIENDS OF TROY HASHIMOTO
PO BOX 3028WAILUKUHI96793824951840$1,000
JOSH GREEN FOR HAWAII
PO BOX 88HONOLULUHI96810834262493$1,000
KOUCHI FOR SENATE
PO BOX 983LAWAIHI96765651284600$1,000
NAIOP HAWAII CRE INDUSTRY PAC
PO BOX 1601HONOLULUHI96806881726147$1,000
VOTE FOR ILAGAN
HC3 BOX 14048KEAAUHI96749851250051$1,000
FRIENDS OF SCOT MATAYOSHI
PO BOX 6163KANEOHEHI96744822696197$750
THE HOLT HUI
1461 NORTH SCHOOL STHONOLULUHI96817812654960$750
BROOKE LIERMAN FOR MARYLAND
PO BOX 891BALTIMOREMD21203462720745$500
FRIENDS OF BRANDON ELEFANTE
PO BOX 1805AIEAHI96701463392976$500
FRIENDS OF CAROL FUKUNAGA
PO BOX 61503HONOLULUHI96839460942232$500
FRIENDS OF CHRIS LEE
111 HEKILI ST BOX 392KAILUAHI96734352338532$500
FRIENDS OF CORY CHUN
94-1035 KAAMEA STWAIPAHUHI96797272631676$500
FRIENDS OF D MORIKAWA
PO BOX 92LIHUEHI96766272759003$500
FRIENDS OF DONNA MERCADO KIM
1745 ALA AMOAMO STHONOLULUHI96819990268749$500
FRIENDS OF JACKSON SAYAMA
PO BOX 283173HONOLULUHI96828384133889$500
FRIENDS OF JENNA TAKENOUCHI
PO BOX 3013HONOLULUHI96802874679521$500
FRIENDS OF JIM ROSAPEPE
8209 WATER LILY WAYLAURELMD20724814924137$500
FRIENDS OF JOY SAN BUENAVENTURA
PO BOX 1675KEAAUHI96749464692296$500
FRIENDS OF KIRSTIN KAHALOA
PO BOX 655KEALAKEKUAHI96750882142896$500
FRIENDS OF LISA KITAGAWA
PO BOX 6309KANEOHEHI96744822704893$500
FRIENDS OF LORRAINE INOUYE
215 PAUKAA DRHILOHI96720990347305$500
FRIENDS OF LUKE EVSLIN
PO BOX 662074LIHUEHI96766823294873$500
FRIENDS OF STANLEY CHANG
415 SOUTH BERETANIA STHONOLULUHI96813461629335$500
FRIENDS OF TIM RICHARDS
PO BOX 6741KAMUELAHI96743812446341$500
FRIENDS OF TRISH LA CHICA
94-081 PUANANE LOOPMILILANIHI96789932230602$500
GOOD FRIENDS OF KYLE YAMASHITA
PO BOX 880989PUKALANIHI96788460700227$500
FRIENDS OF JUSTIN H WOODSON
PO BOX 1609KAHULUIHI96733462090762$300
FRIENDS OF MARK HASHEM
PO BOX 240965HONOLULUHI96824272681333$300
CITIZENS FOR WILLIAM FOLDEN
PO BOX 266MYERSVILLEMD21773465379873$250
COMMITTEE TO ELECT BRIAN M CROSBY
PO BOX 655LEXINGTON PARKMD20653821728327$250
FRIENDS FOR SAM KONG
98-818 KAONOHI ST APT FAIEAHI96701272870693$250
FRIENDS OF ANDREW GARRETT
PO BOX 283144HONOLULUHI96828823428306$250
FRIENDS OF CRAIG ZUCKER
PO BOX 1037OLNEYMD20830473973801$250
FRIENDS OF DARIUS KILA
87-860 FARRINGTON HWY APT BWAIANAEHI96792881412480$250
FRIENDS OF DAVID MOON
30 RITCHIE AVESILVER SPRINGMD20910455362756$250
FRIENDS OF GREGG TAKAYAMA
PO BOX 1196HONOLULUHI96807$250
FRIENDS OF IKAIKA OLDS
500 UNIVERSITY AVE 137HONOLULUHI96826874448235$250
FRIENDS OF JESSE PIPPY
PO BOX 2047FREDERICKMD21702464555725$250
FRIENDS OF JHEANELLE WILKINS
PO BOX 7601SILVER SPRINGMD20907465041298$250
FRIENDS OF JUSTIN READY
PO BOX 402WESTMINSTERMD21158$250
FRIENDS OF LILY QI
9710 TRAVILLE GATEWAY DR 148ROCKVILLEMD20850822823924$250
FRIENDS OF MARC KORMAN
7104 EXETER RDBETHESDAMD20814271895665$250
FRIENDS OF MIKE LEE
PO BOX 1822KAILUAHI96734882162273$250
FRIENDS OF PAUL CORDERMAN
1312 HAMILTON BLVDHAGERSTOWNMD21742823795528$250
FRIENDS OF RACHELE LAMOSAO
PO BOX 971021WAIPAHUHI96797881174289$250
FRIENDS OF STEVE HERSHEY
104 WYE VIEW DRQUEENSTOWNMD21658272986910$250
FRIENDS OF TYSON MIYAKE
PO BOX 3136WAILUKUHI96793934957798$250
JASON BUCKEL FOR DELEGATE
206 WASHINGTON STCUMBERLANDMD21502464971240$250
TARNAS FOR STATE HOUSE
PO BOX 6882KAMUELAHI96743474796689$250
VOTE LEE LOY
PO BOX 6177HILOHI96720810694606$250
VOTEKUSCH
PO BOX 10001HILOHI96721880547906$250
FieldValueIRS element (for citing)
Substantially All Dues Nonded0SubstantiallyAllDuesNondedInd
Only In House Lobbying0OnlyInHouseLobbyingInd
Agree Carryover Prior YearYes (1)AgreeCarryoverPriorYearInd
Dues Assessments$19,503,627DuesAssessmentsAmt
Non Deductible Lbbyng Pltcl CY$6,181,735NonDeductibleLbbyngPltclCYAmt
Non Ded Lbbyng Pltcl Cyov-$4,080,996NonDedLbbyngPltclCyovAmt
Non Deductible Lbbyng Pltcl Tot$2,100,739NonDeductibleLbbyngPltclTotAmt
Aggregate Reported Dues Ntc$4,875,907AggregateReportedDuesNtcAmt
Carried Over-$2,775,168CarriedOverAmt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I-A, LINE 1:FormAndLineReferenceDesc
ExplanationPOLITICAL EXPENDITURES FOR STATE LEVEL LEGISLATORS IN HAWAII AND MARYLAND.ExplanationTxt

Schedule D IRS990ScheduleD

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$501,165OtherCostOrOtherBasisAmt
Depreciation$298,254DepreciationAmt
Book Value$202,911BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,101,268OtherCostOrOtherBasisAmt
Depreciation$985,178DepreciationAmt
Book Value$116,090BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$305,804OtherCostOrOtherBasisAmt
Depreciation$305,804DepreciationAmt
Book Value$0BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$319,001TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (3 entries)

DescDescBook ValueBookValueAmt
INTEREST RECEIVABLE$9,095
OTHER ASSETS$17,500
RIGHT-OF-USE ASSET OPERATING LEASES$4,351,525
FieldValueIRS element (for citing)
Total Book Value Other Assets$4,378,120TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescOPERATING LEASES OBLIGATIONDesc
Amt$5,104,796Amt
FieldValueIRS element (for citing)
Total Liability$5,104,796TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$39,032,331TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst$2,740,753NetUnrealizedGainsInvstAmt
Revenue Not Reported$2,740,753RevenueNotReportedAmt
Revenue Subtotal$36,291,578RevenueSubtotalAmt
Investment Expenses Not Incld$120,767InvestmentExpensesNotIncldAmt
Revenue Not Reported Fincl Stmt$120,767RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$36,412,345TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$34,792,247TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$34,792,247ExpensesSubtotalAmt
Investment Expenses Not Incld2$120,767InvestmentExpensesNotIncld2Amt
Expenses Not Rpt Fincl Stmt$120,767ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$34,913,014TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART X, LINE 2:FormAndLineReferenceDesc
ExplanationMANAGEMENT HAS ANALYZED THE TAX POSITION TAKEN BY THE ASSOCIATION, AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2025 AND 2024, THERE WERE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSETS) OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS.ExplanationTxt

Schedule F IRS990ScheduleF

Account Activities Outside US AccountActivitiesOutsideUSGrp (6 entries)

RegionRegionTxtOfficesOfficesCntEmployeeEmployeeCntType Of Activities ConductedTypeOfActivitiesConductedTxtSpecific Services ProvidedSpecificServicesProvidedTxtRegion Total ExpendituresRegionTotalExpendituresAmt
EUROPE (INCLUDING ICELAND & GREENLAND)00PROGRAM SERVICES-GLOBAL INVESTOR OUTREACHPROMOTE GREATER AWARENESS, UNDERSTANDING AND ACCEPTANCE OF COMMERCIAL REAL ESTATE INVESTMENT THROUGH STOCK EXCHANGE-LISTED REITS AND PROPERTY COMPANIES AMONG GLOBAL INVESTORS.$61,053
EAST ASIA AND THE PACIFIC00PROGRAM SERVICES-GLOBAL INVESTOR OUTREACHPROMOTE GREATER AWARENESS, UNDERSTANDING AND ACCEPTANCE OF COMMERCIAL REAL ESTATE INVESTMENT THROUGH STOCK EXCHANGE-LISTED REITS AND PROPERTY COMPANIES AMONG GLOBAL INVESTORS.$17,161
SOUTH AMERICA00PROGRAM SERVICES-GLOBAL INVESTOR OUTREACHPROMOTE GREATER AWARENESS, UNDERSTANDING AND ACCEPTANCE OF COMMERCIAL REAL ESTATE INVESTMENT THROUGH STOCK EXCHANGE-LISTED REITS AND PROPERTY COMPANIES AMONG GLOBAL INVESTORS.$15,144
EUROPE (INCLUDING ICELAND & GREENLAND)00ACCOUNTING FINANCIAL STANDARDS ISSUESEVALUATE AND ASSESS THE IMPACT OF THE FASB'S AND IASB'S PROPOSALS ON THE INDUSTRY. COORDINATE FINANCIAL STANDARDS INITIATIVES WITH OTHER REESA MEMBERS.$14,859
NORTH AMERICA00PROGRAM SERVICES-GLOBAL INVESTOR OUTREACHPROMOTE GREATER AWARENESS, UNDERSTANDING AND ACCEPTANCE OF COMMERCIAL REAL ESTATE INVESTMENT THROUGH STOCK EXCHANGE-LISTED REITS AND PROPERTY COMPANIES AMONG GLOBAL INVESTORS.$10,062
MIDDLE EAST AND NORTH AFRICA00PROGRAM SERVICES-GLOBAL INVESTOR OUTREACHPROMOTE GREATER AWARENESS, UNDERSTANDING AND ACCEPTANCE OF COMMERCIAL REAL ESTATE INVESTMENT THROUGH STOCK EXCHANGE-LISTED REITS AND PROPERTY COMPANIES AMONG GLOBAL INVESTORS.$7,284
FieldValueIRS element (for citing)
Subtotal Offices0SubtotalOfficesCnt
Subtotal Employees0SubtotalEmployeesCnt
Continuation Total Office0ContinuationTotalOfficeCnt
Continuation Total Employee0ContinuationTotalEmployeeCnt
Total Office0TotalOfficeCnt
Total Employee0TotalEmployeeCnt
Subtotal Spent$125,563SubtotalSpentAmt
Continuation Spent$0ContinuationSpentAmt
Total Spent$125,563TotalSpentAmt
Transfer To Foreign Corp0TransferToForeignCorpInd
Interest In Foreign Trust0InterestInForeignTrustInd
Foreign Corp Ownership0ForeignCorpOwnershipInd
Passive Foreign Investmest Co0PassiveForeignInvestmestCoInd
Foreign Partnership0ForeignPartnershipInd
Boycott CountriesYes (1)BoycottCountriesInd

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Recipient Table RecipientTable

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1NAREIT FOUNDATIONBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line11875 I STREET NW 500AddressLine1Txt
CityWASHINGTONCityNm
State AbbreviationDCStateAbbreviationCd
ZIP200065413ZIPCd
FieldValueIRS element (for citing)
Recipient EIN200455984RecipientEIN
IRC Section501(C)(3)IRCSectionDesc
Cash Grant$130,000CashGrantAmt
Non Cash Assistance$0NonCashAssistanceAmt
Purpose Of GrantGENERAL OPERATIONS SUPPORTPurposeOfGrantTxt
FieldValueIRS element (for citing)
Total501c3 Org1Total501c3OrgCnt
Total Other Org0TotalOtherOrgCnt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 2:FormAndLineReferenceDesc
ExplanationNAREIT MONITORS THE USE OF FUNDS BY ANALYZING ON A MONTHLY BASIS WHAT EXPENSES THE NAREIT FOUNDATION INCURS.ExplanationTxt

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
First Class Or Charter TravelYes (X)FirstClassOrCharterTravelInd
Idemnification Gross Up PmtsYes (X)IdemnificationGrossUpPmtsInd
Club Dues Or FeesYes (X)ClubDuesOrFeesInd
Written Policy Ref T And E ExpnssYes (1)WrittenPolicyRefTAndEExpnssInd
Substantiation RequiredYes (1)SubstantiationRequiredInd
Compensation CommitteeYes (X)CompensationCommitteeInd
Independent ConsultantYes (X)IndependentConsultantInd
Form990 Of Other OrganizationsYes (X)Form990OfOtherOrganizationsInd
Compensation SurveyYes (X)CompensationSurveyInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr PlanYes (1)SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (11 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
STEVEN WECHSLER
PRESIDENT & CEO$1,610,573$0$1,090,693$0$201,620$0$26,070$0$45,742$0$2,974,698$0$0$0
CATHERINE BARRE
EVP, POLICY & PUBLIC AFFAIRS & GC$595,079$0$282,469$0$4,857$0$26,070$0$62,305$0$970,780$0$0$0
JOHN WORTH
EVP, RESEARCH & INVESTOR OUTREACH$485,876$0$212,494$0-$7,317$0$26,070$0$60,838$0$777,961$0$0$0
ROBERT DIBBLEE
SVP, GOVERNMENT RELATIONS$418,208$0$176,476$0$5,704$0$26,070$0$46,204$0$672,662$0$0$0
KURT WALTEN
SVP, INVESTMENT AFFAIRS$389,565$0$135,961$0-$3,087$0$26,070$0$44,410$0$592,919$0$0$0
CHRISTOPHER DRULA
SVP, FINANCIAL STANDARDS$370,489$0$152,769$0-$9,191$0$26,070$0$52,353$0$592,490$0$0$0
JOHN JONES
SVP, GOVERNMENT RELATIONS$422,436$0$105,013$0$425$0$26,070$0$23,292$0$577,236$0$0$0
VICTORIA ROSTOW
SVP, REG. AFFAIRS & DEPUTY GC$411,621$0$116,710$0-$2,192$0$26,070$0$24,846$0$577,055$0$0$0
MATTHEW BECHARD
EVP, COMMS. & INDUSTRY AFFAIRS$421,710$0$76,417$0-$9,466$0$26,070$0$56,877$0$571,608$0$0$0
ROBERTO DIAZ
EVP, FINANCE & FISCAL MANAGEMENT$364,656$0$98,162$0-$7,992$0$26,070$0$42,381$0$523,277$0$0$0
VICTOR DRISTAS
EVP, OPERATIONS$343,145$0$92,338$0-$6,400$0$26,070$0$54,806$0$509,959$0$0$0

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART I, LINE 1AIN CONNECTION WITH NAREIT'S SUPPLEMENTAL EXECUTIVE DEFERRED COMPENSATION PLAN NAREIT GROSSES UP PAYOUTS (FOR SIXTEEN EMPLOYEES), TO PARTIALLY COVER THE IMPACT OF TAXATION. NAREIT REIMBURSES ROBERT DIBBLEE AND JOHN JONES FOR THE PORTION OF SOCIAL CLUB DUES THAT RELATES TO BUSINESS PURPOSES. THESE PAYMENTS ARE INCLUDED IN TAXABLE COMPENSATION.
PART I, LINE 4BSTEVEN WECHSLER, PRESIDENT & CEO, CATHERINE BARRE, EXECUTIVE VICE PRESIDENT, POLICY & PUBLIC AFFAIRS & GENERAL COUNSEL, AND JOHN WORTH, EXECUTIVE VICE PRESIDENT, RESEARCH & INVESTOR OUTREACH, ARE PARTICIPANTS IN THE ORGANIZATION'S SECTION 457 (F) RETIREMENT PLAN. STEVEN WECHSLER RECEIVED A DISTRIBUTION IN 2025, WHICH WAS REPORTED AS TAXABLE COMPENSATION. NAREIT ALSO SPONSORS A SUPPLEMENTAL EXECUTIVE DEFERRED COMPENSATION PLAN. THE SIXTEEN PARTICIPANTS IN THE PLAN AND THE CASH PAYOUTS DISTRIBUTED TO EACH PARTICIPANT IN 2025 ARE AS FOLLOWS: STEVEN WECHSLER, PRESIDENT & CEO, $253,015.30 CATHERINE BARRE, EXECUTIVE VICE PRESIDENT, POLICY & PUBLIC AFFAIRS & GENERAL COUNSEL, $54,644.66 JOHN WORTH, EXECUTIVE VICE PRESIDENT, RESEARCH & INVESTOR OUTREACH, $35,507.17 ROBERT DIBBLEE, SENIOR VICE PRESIDENT, GOVERNMENT RELATIONS, $25,745.18 VICTORIA ROSTOW, SENIOR VICE PRESIDENT, REGULATORY AFFAIRS & DEPUTY GENERAL COUNSEL, $18,618.87 KURT WALTEN, SENIOR VICE PRESIDENT, INVESTMENT AFFAIRS, $18,294.99 JOHN JONES, SENIOR VICE PRESIDENT, GOVERNMENT RELATIONS, $18,066.02 CHRISTOPHER DRULA, SENIOR VICE PRESIDENT, FINANCIAL STANDARDS, $18,031.67 MATTHEW BECHARD, EXECUTIVE VICE PRESIDENT, COMMUNICATIONS & INDUSTRY AFFAIRS, $14,435.19 DARA BERNSTEIN, SENIOR VICE PRESIDENT & TAX COUNSEL, $11,524.82 ROBERTO DIAZ, EXECUTIVE VICE PRESIDENT, FINANCE & FISCAL MANAGEMENT, $10,446.83 VICTOR DRISTAS, EXECUTIVE VICE PRESIDENT, OPERATIONS, $7,695.14 DAVID SULLIVAN, SENIOR VICE PRESIDENT, INVESTMENT AFFAIRS, $2,980.74 ED PIERZAK, SENIOR VICE PRESIDENT, RESEARCH, $2,094.31 JESSICA LONG, SENIOR VICE PRESIDENT, ENVIRONMENTAL STEWARDSHIP & SUSTAINABILITY, $1,618.38 AYRIS SCALES, SENIOR VICE PRESIDENT, SOCIAL RESPONSIBILITY & GLOBAL INITIATIVES, $835.64

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 2EXECUTIVE BOARD MEMBER ANGELA M. AMAN HAS A BUSINESS RELATIONSHIP WITH SECOND VICE CHAIR/FIRST VICE CHAIR MARK J. PARRELL. EXECUTIVE BOARD MEMBER/TREASURER BENJAMIN W. SCHALL HAS A BUSINESS RELATIONSHIP WITH CHAIR/EXECUTIVE BOARD MEMBER CONOR C. FLYNN. EXECUTIVE BOARD MEMBER ANDREW P. POWER HAS A BUSINESS RELATIONSHIP WITH FIRST VICE CHAIR/CHAIR SUMIT ROY.
FORM 990, PART VI, SECTION A, LINE 6NAREIT HAS BOTH CORPORATE AND INDIVIDUAL MEMBERS. REAL ESTATE INVESTMENT TRUSTS AND PUBLIC REAL ESTATE COMPANIES CAN APPLY FOR CORPORATE MEMBERSHIP, WHICH IS SUBJECT TO ANNUAL DUES. ANY INDIVIDUAL WHO DOES NOT WORK FOR AN ENTITY ELIGIBLE FOR CORPORATE MEMBERSHIP MAY APPLY FOR ADMISSION AS AN INDIVIDUAL MEMBER OF THE ASSOCIATION, WHICH IS SUBJECT TO ANNUAL DUES. INDIVIDUAL MEMBERS DO NOT HAVE THE RIGHT TO VOTE BUT MAY OTHERWISE PARTICIPATE IN THE AFFAIRS OF THE ASSOCIATION.
FORM 990, PART VI, SECTION A, LINE 7AEACH CORPORATE MEMBER IN GOOD STANDING IS ENTITLED TO ONE VOTE ON ALL MATTERS SUBMITTED TO THE MEMBERS OF THE ASSOCIATION, INCLUDING, WITHOUT LIMITATION, A VOTE FOR EACH OPEN POSITION FOR ELECTED MEMBERS OF THE NAREIT EXECUTIVE BOARD.
FORM 990, PART VI, SECTION B, LINE 11BPRIOR TO FILING NAREIT'S FORM 990, IT WAS PROVIDED TO NAREIT'S CHAIR, FIRST VICE CHAIR, SECOND VICE CHAIR, TREASURER, AND THE MEMBERS OF NAREIT'S AUDIT AND INVESTMENT COMMITTEE, FOR THEIR REVIEW. NAREIT'S EVP, FINANCE & FISCAL MANAGEMENT, AND ITS PRESIDENT & CEO REVIEW THE FORM 990 IN CONJUNCTION WITH NAREIT'S PAID TAX PREPARER PRIOR TO FILING THE FORM 990.
FORM 990, PART VI, SECTION B, LINE 15NAREIT'S COMPENSATION AND BENEFITS COMMITTEE, WHICH IS COMPRISED OF THE CURRENT NAREIT OFFICERS AND IMMEDIATE PAST CHAIR, CONVENE ANNUALLY TO DETERMINE COMPENSATION LEVELS FOR NAREIT NON-ELECTED OFFICERS AND OTHER EMPLOYEES. COMPARABILITY DATA IS USED IN DETERMINING COMPENSATION. THE LAST PAY GOVERNANCE STUDY WAS COMPLETED IN 2025.
FORM 990, PART VI, SECTION C, LINE 19THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE NOT GENERALLY MADE AVAILABLE TO THE GENERAL PUBLIC, BUT IF REQUESTS FOR COPIES OF THE DOCUMENTS WERE TO BE RECEIVED, THE ORGANIZATION WOULD CONSIDER MAKING THEM AVAILABLE TO THE REQUESTOR.
FORM 990, PART VII:* DENOTES EXECUTIVE BOARD MEMBERS WHO SERVED 11/1/2024-10/31/2025. ** DENOTES EXECUTIVE BOARD MEMBERS WHO SERVED 11/1/2025-10/31/2026.
FORM 990, PART XII, LINE 2C:THE AUDIT OVERSIGHT PROCESS HAS REMAINED UNCHANGED FROM THE PRIOR YEAR.

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdExempt Code SectionExemptCodeSectionTxtPublic Charity StatusPublicCharityStatusTxtBusiness Name Line1DirectControllingEntityName/BusinessNameLine1TxtControlled OrganizationControlledOrganizationInd
NAREIT FOUNDATION
1875 I STREET NW 500WASHINGTONDC200065413200455984PROVIDE CONTRIBUTIONS TO CHARITABLE ORGANIZATIONSDC501(C)(3)509(A)(3) TYPE INATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT TRUSTSYes (1)
NAREIT POLITICAL ACTION COMMITTEE
1875 I STREET NW 500WASHINGTONDC200065413521930172CONTRIBUTE TO POLITICAL CAMPAIGNS & LEADERSHIP PACSDC527N/ANATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT TRUSTSYes (1)
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth OrgYes (1)GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth OrgYes (1)PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of FacilitiesYes (1)SharingOfFacilitiesInd
Paid Employees SharingYes (1)PaidEmployeesSharingInd
Reimbursement Paid To Other OrgYes (1)ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other OrgYes (1)ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp

Other Organization Name OtherOrganizationName

FieldValueIRS element (for citing)
Business Name Line1NAREIT FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Transaction TypeBTransactionTypeTxt
Involved$130,000InvolvedAmt
Method Of Amount DeterminationBOOK VALUEMethodOfAmountDeterminationTxt