2023-11-13T09:58:47-06:00 2022-12-31 420714325 RSM US LLP 19026 RIDGEWOOD PKWY STE 400 SAN ANTONIO TX 78259 990 2022-01-01 800718545 TREC COMMUNITY INVESTORS TREC 2146923603 3100 MCKINNON STREET 1150 DALLAS TX 752011104 LINDA MCMAHON CEO/PRESIDENT 2146923603 2023-11-05 1 LINDA MCMAHON 999009999 0 REBECCA A RODRIGUEZ P01073764 2108286281 2023-11-05 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z LINDA MCMAHON 3100 MCKINNON STREET 1150 DALLAS TX 752011104 5867682 0 X HTTPS://TRECCOMMUNITYINVESTORS.ORG/ X 2011 TX TREC COMMUNITY INVESTORS JOINS FORCES WITH UNDERSERVED COMMUNITIES TO INVEST IN THE DISINVESTED, ENERGIZE NEIGHBORHOODS, AND CHANGE LIVES. THROUGH ACCESS TO FLEXIBLE CAPITAL AND REAL ESTATE EXPERTISE, WE MAKE AN UNWAVERING COMMITMENT TO BUILD A LASTING IMPACT IN THE COMMUNITIES WE SERVE. 36 36 6 100 0 0 1880598 1638709 126412 235234 182429 273401 31717 96967 2221156 2244311 147456 550175 0 0 882591 1037820 0 0 106250 618392 1063945 1648439 2651940 572717 -407629 12217217 10382604 3316328 3136693 8900889 7245911 X TREC COMMUNITY INVESTORS JOINS FORCES WITH UNDERSERVED COMMUNITIES TO INVEST IN THE DISINVESTED, ENERGIZE NEIGHBORHOODS, AND CHANGE LIVES. THROUGH ACCESS TO FLEXIBLE CAPITAL AND REAL ESTATE EXPERTISE, WE MAKE AN UNWAVERING COMMITMENT TO BUILD A LASTING IMPACT IN THE COMMUNITIES WE SERVE. 0 0 1900417 399996 77500 NEIGHBORHOOD REVITALIZATION: TREC CI PARTNERS WITH OTHER COMMUNITY ORGANIZATIONS TO FOCUS ON JOB AND WEALTH CREATION AND COMMUNITY OWNERSHIP AND LEADERSHIP OPPORTUNITIES IN LOW TO MODERATE INCOME COMMUNITIES. 272643 75179 157734 HOUSING: TREC CI HAS A SIGNIFICANT ROLE IN THE CREATION OF AN AFFORDABLE HOUSING FUND TO PROVIDE FOR LAND ACQUISITION AND HOUSING CONSTRUCTION/REHABILITATION FOR VULNERABLE NEIGHBORHOODS; PROVIDES FUNDING FOR HOME IMPROVEMENT PROJECTS; PROVIDES PROFESSIONAL SERVICES AND VOLUNTEER SUPPORT AS WELL AS GRANTS FOR REHABILITATION PROJECTS, AND PLAYS A ROLE IN THE ESTABLISHMENT OF A COMMUNITY LAND TRUST. 202516 75000 0 EDUCATION: TREC CI OFFERS TARGETED LEARNING OPPORTUNITIES FOR THOSE IN THE COMMUNITY WHO WANT TO EXPAND THEIR KNOWLEDGE OF REAL ESTATE. PARTICIPANTS ARE SELECTED THROUGH AN APPLICATION PROCESS. IN ADDITION, TREC CI INVESTS IN AND MAKES GRANTS TO ORGANIZATIONS WHO ARE IN EDUCATION, SUCH AS SCHOOLS, AS WELL AS INVESTS IN EDUCATIONAL PROJECTS. 2375576 1 1 0 0 0 0 0 0 0 0 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 11 0 1 6 1 0 0 0 0 0 0 0 0 0 0 0 0 X 36 36 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 1 0 1 1 0 X SUMMER LOVELAND 2146923603 3100 MCKINNON STREET 1150 DALLAS TX 752011104 TREY MORSBACH CHAIRMAN 1.00 1.00 X X 0 0 0 CHASE STONE BOARD MEMBER 0.50 0.00 X 0 0 0 JOHN ADOLPH SECRETARY 0.50 0.00 X X 0 0 0 MATT BRYARLY TREASURER 0.50 0.00 X X 0 0 0 AARON ECHOLS BOARD MEMBER 0.50 0.00 X 0 0 0 ACE ROMAN BOARD MEMBER 0.50 0.00 X 0 0 0 ANDREW BOTTS BOARD MEMBER 0.50 0.00 X 0 0 0 CAMPBELL ROCHE BOARD MEMBER 0.50 0.00 X 0 0 0 CHAD CROZIER BOARD MEMBER 0.50 0.00 X 0 0 0 CHASE EVANS BOARD MEMBER 0.50 0.00 X 0 0 0 DAVID FAZIO BOARD MEMBER 0.50 0.00 X 0 0 0 DENISE MASON BOARD MEMBER 0.50 0.00 X 0 0 0 DERRIC HICKS BOARD MEMBER 0.50 0.00 X 0 0 0 EDWARD SPOONER BOARD MEMBER 0.50 0.00 X 0 0 0 ELIZABETH SOLENDER BOARD MEMBER 0.50 0.00 X 0 0 0 FERNANDO CEBALLOS BOARD MEMBER 0.50 0.00 X 0 0 0 FROSWA' BOOKER-DREW BOARD MEMBER 0.50 0.00 X 0 0 0 IAN FAIRCHILD BOARD MEMBER 0.50 0.00 X 0 0 0 JEFF CARTER BOARD MEMBER 0.50 0.00 X 0 0 0 JJ PONCE BOARD MEMBER 0.50 0.00 X 0 0 0 JOEL SCHUBERT BOARD MEMBER 0.50 0.00 X 0 0 0 JOHN RIGGINS BOARD MEMBER 0.50 0.00 X 0 0 0 JOSH WHITE BOARD MEMBER 0.50 0.00 X 0 0 0 KATIE MORROW BOARD MEMBER 0.50 0.00 X 0 0 0 KEN SMITH BOARD MEMBER 0.50 0.00 X 0 0 0 KIMBERLY BRYUM BOARD MEMBER 0.50 0.00 X 0 0 0 LESLEY MCCASLIN BOARD MEMBER 0.50 0.00 X 0 0 0 LINDSAY MEGEE BOARD MEMBER 0.50 0.00 X 0 0 0 MIKE GEISLER BOARD MEMBER 0.50 0.00 X 0 0 0 RAUL REYES BOARD MEMBER 0.50 0.00 X 0 0 0 ROBERT ACUNA-PILGRIM BOARD MEMBER 0.50 0.00 X 0 0 0 SAM PECK BOARD MEMBER 0.50 0.00 X 0 0 0 SUZAN KEDRON BOARD MEMBER 0.50 0.00 X 0 0 0 TAYLOR DICKERSON BOARD MEMBER 0.50 0.00 X 0 0 0 TRIPP RUSS BOARD MEMBER 0.50 0.00 X 0 0 0 TROY DANIEL BOARD MEMBER 0.50 0.00 X 0 0 0 LINDA MCMAHON CEO/PRESIDENT 20.00 20.00 X 222475 222475 15110 SUMMER LOVELAND SR. DIRECTOR 20.00 20.00 X 132546 132546 16142 FELICIA PIERSON SR. DIRECTOR 40.00 0.00 X 134627 0 10758 489648 355021 42010 3 0 1 0 NIMBLEUSER 9620 EXECUTIVE CENTER DR N STE 200 ST PETERSBURG FL 33702 SOFTWARE IMPLEMENTATION AND LICENSES 277668 1 571958 1066751 1638709 LOAN REVENUE 522291 118234 118234 DALLAS HOUSING OPPORTUNITY FUND F 522291 117000 117000 235234 109727 109727 3787045 3623371 163674 163674 163674 OTHER INCOME 990009 96967 96967 96967 2244311 235234 0 370368 550175 550175 370646 322462 29652 18532 547639 476446 43811 27382 12793 11129 1024 640 42226 36736 3378 2112 64516 56129 5161 3226 30718 26725 2457 1536 143916 125207 11513 7196 48396 42104 3872 2420 37019 32112 3065 1842 125163 108892 10013 6258 124920 108680 9994 6246 6031 5247 482 302 25258 21974 2021 1263 14574 12679 1166 729 40228 34997 3219 2012 10740 9344 859 537 IN KIND EXPENSES 336527 292129 27322 17076 STRATEGIC INITIATIVES 138811 120765 11105 6941 PROVISION FOR LOAN LOSS -18356 -18356 2651940 2375576 170114 106250 328693 257148 7030196 1972445 22500 49810 1341646 1270183 76886 72130 459669 274992 54807 184677 801027 1476862 2277703 3462308 283759 1637041 12217217 10382604 64081 36582 1557872 1316783 623472 608067 323637 250833 747266 924428 3316328 3136693 X 4300768 2910699 4600121 4335212 8900889 7245911 12217217 10382604 -407629 -1247349 0 X 0 1 X 1 0 X 1198790 361343 265739 1880598 1638709 5345179 1198790 361343 265739 1880598 1638709 5345179 1222239 4122940 7540 109727 117267 31717 96967 128684 5591130 686798 0.73740 0.57550 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER REVENUE - 2021 AMOUNT: $ 31,717. 2022 AMOUNT: $ 96,967. SCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS: DESCRIPTION: UNUSUAL GRANT DATE: 12/31/19 AMOUNT: 6000000. DESCRIPTION: MERGER DATE: 12/31/20 AMOUNT: 2239175. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 118476 109221 9255 142819 45260 97559 198374 120511 77863 184677 FIDELITY 500 INDEX FUND 2460681 F FIMM TREASURY PORTFOLIO: CL I 1001627 F 3462308 INTERCOMPANY DUE TO/FROM 773163 RIGHT OF USE ASSETS 863878 1637041 LEASE LIABILITIES 924428 924428 X 1164912 -1247349 167950 -1079399 2244311 0 2244311 2819890 167950 167950 2651940 0 2651940 PART X, LINE 2: TREC CI IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME OR EXCISE TAX HAS BEEN MADE. HOWEVER, SHOULD TREC CI ENGAGE IN ACTIVITIES UNRELATED TO THE PURPOSE FOR WHICH IT WAS CREATED, TAXABLE INCOME COULD RESULT. TREC CI DID NOT INCUR ANY FEDERAL INCOME TAX FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021. TAX POSITIONS TAKEN RELATED TO TREC CI'S TAX EXEMPT STATUS, UNRELATED BUSINESS ACTIVITIES TAXABLE INCOME AND DEDUCTIBILITY OF EXPENSES AND OTHER MISCELLANEOUS TAX POSITIONS HAVE BEEN REVIEWD, AND MANAGEMENT IS OF THE OPINION THAT MATERIAL POSITIONS TAKEN WOULD MORE LIKELY THAN NOT BE SUSTAINED BY EXAMINATION. ACCORDINGLY, TREC CI HAS NOT RECORDED AN INCOME TAX LIABILITY FOR UNCERTAIN TAX POSITIONS. FOR YEARS ENDED DECEMBER 31, 2022 AND 2021, THERE WERE NO INTEREST OR PENALITIES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. 1 SCHOLARSHOT 2904 SWISS AVE DALLAS TX 75204 270232250 501(C)(3) 25000 0 SUPPORT OF HIGHER EDUCATION PROGRAMS ST PHILIPS SCHOOL AND COMMUNITY CENTER 1600 PENNSYLVANIA AVE DALLAS TX 75215 751097360 501(C)(3) 96350 0 RENOVATION OF RETAIL#1 AT MLK BLVD THE WINNERS ASSEMBLY CHRISTIAN CHURCH OF GOD 1709 MARTIN LUTHER KING BLVD DALLAS TX 75215 200850159 501(C)(3) 114000 0 GENERAL SUPPORT ST PHILIPS SCHOOL AND COMMUNITY CENTER 1600 PENNSYLVANIA AVE DALLAS TX 75215 751097360 501(C)(3) 39650 0 RENOVATION OF RETAIL#2 AT MLK BLVD WFMF LLC 2626 COLE AVE STE 606 LB 8 DALLAS TX 75204 831101961 N/A 75179 0 RENOVATION OF MULTIFAMILY HOUSING KATHLYN JOY GILLIAM MUSEUM 3522 WENDELKIN ST DALLAS TX 75215 460856461 501(C)(3) 70000 0 RENOVATION OF A MUSEUM FACILITY 5 1 PART I, LINE 2: WE HAVE GRANT REPORTING WHICH IS PROVIDED TO US BY THE GRANTEE, IDENTIFYING USE OF THE FUNDS AND OUTCOME OF THE PROJECT FOR WHICH THE FUNDS WERE USED. THIS INCLUDES IDENTIFYING OTHER SOURCES OF FUNDS THEY HAVE RECEIVED. 0 0 0 0 0 0 0 0 0 LINDA MCMAHON CEO/PRESIDENT 170985 170985 51375 51375 115 115 6678 6678 877 877 230030 230030 0 0 SUMMER LOVELAND SR. DIRECTOR 97477 97477 35000 35000 69 69 3400 3400 4671 4671 140617 140617 0 0 PART I, LINE 3 THE COMPENSATION FOR TOP MANAGEMENT OFFICIALS IS APPROVED BY AN INDEPENDENT COMPENSATION COMMITTEE FROM A RELATED ORGANIZATION. COMPENSATION IS COMPARED TO EXECUTIVE COMPENSATION BY REVIEWING COMPARABILITY DATA OF SIMILAR ORGANIZATIONS. THE APPROVAL OF COMPENSATION IS DOCUMENTED IN EMAIL CORRESPONDENCE AMONG THE COMPENSATION COMMITTEE. THE COMPENSATION OF ALL OTHER STAFF, INCLUDING OFFICERS WHO ARE EMPLOYEES, IS REVIEWED BY THE COMPENSATION COMMITTEE BASED ON RECOMMENDATION BY THE CEO. FORM 990, PART I, LINE 6, VOLUNTEERS: TREC COMMUNITY INVESTORS (TREC CI) UTILIZES VOLUNTEERS TO SERVE ON THE BOARD OF DIRECTORS, TO OVERSEE COMMITTEES. VOLUNTEERS ASSIST WITH ALL PROGRAMS AND EVENTS. FORM 990, PART VI, SECTION A, LINE 7B THE REAL ESTATE COUNCIL, INC. BOARD HAS TO APPROVE THE APPOINTMENT OF THE TREC CI BOARD MEMBERS. 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 CEO FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C TREC CI 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. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION FOR THE TOP MANAGEMENT OFFICIALS, IS APPROVED BY AN INDEPENDENT COMPENSATION COMMITTEE FROM A RELATED ORGANIZATION. THE COMPENSATION IS COMPARED TO EXECUTIVE COMPENSATION BY REVIEWING COMPARABILITY DATA OF SIMILAR ORGANIZATIONS. THE APPROVAL OF THE TOP MANAGEMENT OFFICIAL'S COMPENSATION IS DOCUMENTED IN EMAIL CORRESPONDENCE AMONG THE COMPENSATION COMMITTEE. THE COMPENSATION OF ALL OTHER STAFF, INCLUDING OFFICERS WHO ARE EMPLOYEES, IS REVIEWED BY THE COMPENSATION COMMITTEE BASED ON RECOMMENDATION BY THE CEO. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, GOVERNING DOCUMENTS, AND FORM 990 ARE MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. THE REAL ESTATE COUNCIL INC 3100 MCKINNON STREET 1150 DALLAS TX 75201 752342376 REAL ESTATE SUPPORT TX 501(C)(6) N/A N/A 0 THE REAL ESTATE COUNCIL POLITICAL ACTION COMMITTEE 3100 MCKINNON STREET 1150 DALLAS TX 75201 043590401 CAMPAIGN SUPPORT TX 527 N/A TREC 0 TREC SPECIAL EVENTS INC 3100 MCKINNON STREET 1150 DALLAS TX 75201 464671936 SPECIAL EVENT TX 501(C)(3) LINE 12A, I TREC COMMUNITY INVESTORS 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 1 1 1 1 TREC SPECIAL EVENTS INC C 571958 FMV TREC SPECIAL EVENTS INC D 523577 FMV THE REAL ESTATE COUNCIL INC D 249586 FMV THE REAL ESTATE COUNCIL INC N 221452 FMV THE REAL ESTATE COUNCIL INC O 607819 FMV THE REAL ESTATE COUNCIL INC P 176274 FMV THE REAL ESTATE COUNCIL INC Q 125727 FMV THE REAL ESTATE COUNCIL INC R 53076 FMV THE REAL ESTATE COUNCIL INC S 75333 FMV