2025-08-13T13:57:55-05:00 2024-12-31 882730877 CHERRY BEKAERT ADVISORY LLC 1707 N RANDALL ROAD STE 200 ELGIN IL 60123 990 2024-01-01 366214767 INSTITUTE OF REAL ESTATE MANAGEMENT INST 8008370706 430 N MICHIGAN AVE 500 CHICAGO IL 606114090 CHRISTOPHER MIGALA CFAO 8008370706 2025-07-25 1 1 MELANIE MCPEAK P01346034 8478888600 2024 2025-03-06 01:10:19Z CHRISTOPHER MIGALA 430 N MICHIGAN AVE 500 CHICAGO IL 606114090 18441266 0 X WWW.IREM.ORG X 1933 IL TO ADVANCE THE PROFESSION OF REAL ESTATE MANAGEMENT. 18 18 70 350 34538 16052 449750 487582 12850732 12677551 298314 482815 511412 485922 14110208 14133870 0 0 0 0 7120038 7277415 0 0 0 6769291 6908918 13889329 14186333 220879 -52463 10227366 9241977 4666433 3663045 5560933 5578932 TO ADVANCE THE PROFESSION OF REAL ESTATE MANAGEMENT. 0 0 CONDUCT COURSES IN PROPERTY MANAGEMENT FOR A TOTAL OF 7,700 STUDENTS. ISSUED AND MAINTAINED CERTIFICATIONS FOR OVER 10,000 INDIVIDUALS AND 400 PROPERTIES WORLDWIDE. OFFERED MEETINGS FOR THE MUTUAL EXCHANGE OF PROFESSIONAL INFORMATION FOR THE BENEFIT OF THE MEMBERSHIP. 0 1 0 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 71 0 1 70 1 1 1 0 0 0 1 1 0 0 0 X 18 18 0 0 1 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X X CHRISTOPHER MIGALA 3123296049 430 N MICHIGAN AVENUE SUITE 500 CHICAGO IL 60611 ELIZABETH EKRE CPM IREM PRESIDENT 25.00 0.00 X X 0 0 0 DAWN CARPENTER CPM IREM PRESIDENT ELECT 25.00 0.00 X X 0 0 0 MINDY GRONBECK CPM IREM SECRETARY TREASURER 25.00 0.00 X X 0 0 0 BRAD ASHLEY CPM DIRECTOR 1.00 0.00 X 0 0 0 BRANDEN BARKER CPM DIRECTOR 1.00 0.00 X 0 0 0 ADAM BENOIT CPM DIRECTOR 1.00 0.00 X 0 0 0 KIMBERLY COLLINS CPM DIRECTOR 25.00 0.00 X 0 0 0 TONI HARRIS CPM ARM DIRECTOR 1.00 0.00 X 0 0 0 DEE HEADLEY CPM FOUNDATION PRESIDENT 1.00 0.00 X 0 0 0 RYAN HUFFMAN CPM DIRECTOR 1.00 0.00 X 0 0 0 SIDNEY INGELSON CPM DIRECTOR 1.00 0.00 X 0 0 0 JASON JACKSON CPM ARM DIRECTOR 1.00 0.00 X 0 0 0 TIMOTHY KRAMER CPM ARM DIRECTOR 1.00 0.00 X 0 0 0 KAREN PHARR CPM DIRECTOR 1.00 0.00 X 0 0 0 DEBORAH PHILLIPS CPM DIRECTOR 1.00 0.00 X 0 0 0 RENEE SAVAGE CPM IREM PAST PRESIDENT 10.00 0.00 X 0 0 0 SHARON SIMMONS CPM DIRECTOR 1.00 0.00 X 0 0 0 CHIP WATTS CPM NAR REP TO IREM BOARD 1.00 0.00 X 0 0 0 LINDA CARADINE-POINSETT EVP AND CEO (THRU 5/17/24) 45.00 0.00 X 256957 0 41511 CHRISTOPHER MIGALA CFAO 45.00 0.00 X 213623 0 45767 MARIE BERNADETTE PATTON INTERIM CEO (FROM 5/20/24) 45.00 0.00 X 190312 0 0 WENDY BECKER CPO 45.00 0.00 X 212131 0 45330 LYNN DISBROW COO 45.00 0.00 X 215715 0 30925 BRIDGET TERRONES VICE-PRESIDENT, MARKETING 45.00 0.00 X 180405 0 18041 ALEX LEVIN SR. DIRECTOR, TECHNOLOGY & COM 45.00 0.00 X 150233 0 34387 JOEL LOUGHMAN DIRECTOR, ASSOC. MANAGEMENT 45.00 0.00 X 141592 0 23721 LEAH MISBIN SR. DIRECTOR, INTERNATIONAL PROGRAMS 45.00 0.00 X 130009 0 33718 LILLIANE SMOTHERS SR. DIRECTOR, MEMBERSHIP & CHAPTERS 45.00 0.00 X 140000 0 23314 STACY PRICHISKY DIRECTOR, HUMAN RESOURCES 45.00 0.00 X 136556 0 23567 1967533 0 320281 16 0 1 0 PERSONIFY INC PO BOX 759470 BALTIMORE MD 21275 ASSOCIATION MANAGEMENT 530144 WARREN MCKENNA DESIGN GROUP INC 77 W WACKER DR 4500 CHICAGO IL 60601 MARKETING 209386 LOBBY CRE LLC 201 RAMPART STREET CHARLOTTE NC 28203 ASSET MANAGEMENT 204000 CLARITY TECHNICAL SOLUTIONS INC 23 RANCHO CIRCLE LAKE FOREST CA 92630 AUDIO VISUAL PRODUCTION 189149 FORJ SOFTWARE INC 440 WELLS STREET SUITE 201 DELAFIELD WI 53018 MEMBER ENGAGEMENT PLATFORM 163956 10 487582 487582 MEMBERSHIP DUES 900099 6789905 6789905 LEARNING 900099 3007638 3007638 APPLICATIONS & EXAMS 900099 1978184 1978184 MEETINGS & CONFERENCES 900099 638192 638192 PUBLISHING 541800 263632 229094 34538 12677551 364929 364929 66828 66828 4425282 4307396 117886 117886 117886 MANAGEMENT SERVICE CONTRACT 900099 416129 416129 MISC. INTERNATIONAL REVENUE 900099 2965 2965 419094 14133870 12643013 34538 968737 1450715 4465958 302043 633758 424941 36722 76156 31423 608371 483353 370883 20748 628650 603711 1134941 169117 74375 CHAPTER EXPENSES 788113 MAINTENANCE AND REPAIRS 745049 SERVICE AND ADMIN FEES 392770 MEMBER PAYMENTS 254359 490177 14186333 542962 609694 189417 208120 326311 268601 29238 0 343314 583816 5176463 4655146 270372 521317 8007637 7050429 518115 0 10227366 9241977 1207108 945601 2873995 2717444 585330 0 4666433 3663045 X 5560933 5578932 5560933 5578932 10227366 9241977 -52463 70462 0 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 6789905 280380 -13596 266784 314048 -47264 154900 144573 10327 4977900 4510573 467327 43663 43663 521317 X 14172909 70462 70462 14102447 31423 31423 14133870 14154910 0 14154910 31423 31423 14186333 PART X, LINE 2: THE INSTITUTE WAS GRANTED AN EXEMPTION FROM FEDERAL INCOME TAXES BY THE INTERNAL REVENUE SERVICE PURSUANT TO THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(6). THE TAX-EXEMPT PURPOSE OF THE INSTITUTE AND THE NATURE IN WHICH IT OPERATES IS DESCRIBED IN THE FIRST PARAGRAPH OF NOTE 1. MANAGEMENT'S ASSERTION IS THAT THERE ARE NO UNCERTAIN TAX POSITIONS, AND THE INSTITUTE CONTINUES TO OPERATE IN COMPLIANCE WITH ITS TAX-EXEMPT PURPOSE. CERTAIN INSTITUTE ACTIVITIES ARE CONSIDERED TO BE UNRELATED BUSINESS INCOME WHICH IS SUBJECT TO INCOME TAXES. THE FINANCIAL STATEMENTS DO NOT INCLUDE A PROVISION FOR INCOME TAXES BECAUSE THE INSTITUTE'S UNRELATED BUSINESS INCOME IS REDUCED BY RELATED EXPENSES, RESULTING IN ONLY A SMALL AMOUNT OR NO TAXABLE INCOME. THE INSTITUTE HAS ADOPTED THE REQUIREMENTS FOR ACCOUNTING FOR UNCERTAIN TAX POSITIONS AND MANAGEMENT HAS DETERMINED THE INSTITUTE WAS NOT REQUIRED TO RECORD A LIABILITY RELATED TO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2024. EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES MEMBERSHIP AND EDUCATION 110734 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 PROGRAM SERVICES MEMBERSHIP AND EDUCATION 80947 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 PROGRAM SERVICES MEMBERSHIP AND EDUCATION 62969 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES MEMBERSHIP AND EDUCATION 36485 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 0 0 PROGRAM SERVICES MEMBERSHIP AND EDUCATION 5088 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 PROGRAM SERVICES MEMBERSHIP AND EDUCATION 1548 0 0 0 0 0 0 297771 0 297771 0 0 0 0 0 0 X X X 1 1 X X X 1 0 0 LINDA CARADINE-POINSETT EVP AND CEO (THRU 5/17/24) 227957 0 29000 0 0 0 17535 0 23976 0 298468 0 0 0 CHRISTOPHER MIGALA CFAO 200014 0 13609 0 0 0 22428 0 23339 0 259390 0 0 0 WENDY BECKER CPO 201122 0 11009 0 0 0 22179 0 23151 0 257461 0 0 0 LYNN DISBROW COO 204706 0 11009 0 0 0 22238 0 8687 0 246640 0 0 0 BRIDGET TERRONES VICE-PRESIDENT, MARKETING 171662 0 8743 0 0 0 18041 0 0 0 198446 0 0 0 MARIE BERNADETTE PATTON INTERIM CEO (FROM 5/20/24) 190312 0 0 0 0 0 0 0 0 0 190312 0 0 0 ALEX LEVIN SR. DIRECTOR, TECHNOLOGY & COM 144633 0 5600 0 0 0 15408 0 18979 0 184620 0 0 0 JOEL LOUGHMAN DIRECTOR, ASSOC. MANAGEMENT 137592 0 4000 0 0 0 14525 0 9196 0 165313 0 0 0 LEAH MISBIN SR. DIRECTOR, INTERNATIONAL PROGRAMS 124125 0 5884 0 0 0 13777 0 19941 0 163727 0 0 0 LILLIANE SMOTHERS SR. DIRECTOR, MEMBERSHIP & CHAPTERS 135917 0 4083 0 0 0 14627 0 8687 0 163314 0 0 0 STACY PRICHISKY DIRECTOR, HUMAN RESOURCES 130172 0 6384 0 0 0 13884 0 9683 0 160123 0 0 0 PART I, LINE 1A -FIRST-CLASS OR CHARTER TRAVEL: OFFICERS CAN FLY BUSINESS CLASS IF THE FLIGHT EXCEEDS THREE HOURS. -TRAVEL FOR COMPANIONS: OFFICERS BROUGHT A COMPANION ON CERTAIN BUSINESS TRIPS. THE BENEFIT WAS TREATED AS TAXABLE COMPENSATION. -TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: PAYMENTS INCLUDE A GROSS-UP TO COVER THE TAX LIABILITY. PART I, LINE 4A EFFECTIVE MAY 17, 2024, LINDA CARADINE-POINSETT'S EMPLOYMENT AS THE EVP AND CEO OF THE ORGANIZATION WAS TERMINATED. A FORMAL SEVERANCE AGREEMENT WAS ENTERED INTO BY BOTH PARTIES IN WHICH IREM PAID LINDA THE EQUIVALENT TO 90 DAYS OF HER BASE SALARY AS IN EFFECT ON THE TERMINATION DATE IN LIEU OF NOTICE. THE SEVERANCE AMOUNTED TO $85,328.62 AND WAS PAID IN A LUMP SUM WITHIN 14 DAYS AFTER THE EFFECTIVE DATE. PART II, LINE (1), COLUMN (C): FOR LINDA CARADINE-POINSETT, EVP & CEO (THRU 5/17/24), IREM MADE RETIREMENT CONTRIBUTIONS TOTALING $17,535 DURING THE TAXABLE YEAR. HOWEVER, AS A RESULT OF LINDA'S SERVERANCE ON 5/17/2024, LINDA ENDED UP FORFEITING $26,770 IN NON-VESTING CONTRIBUTIONS, WHICH RESULATED IN LINDA BEING UNABLE TO TAKE THE FULL BENEFIT. FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF DIRECTORS, CONSISTING OF 18 MEMBERS AS LISTED ON PAGES SEVEN AND EIGHT OF THE FORM 990, IS RESPONSIBLE TO CONDUCT THE AFFAIRS OF IREM, OVERSEE BUSINESS MANAGEMENT, AND MANAGE STRATEGIC PLAN IMPLEMENTATION. IT MEETS APPROXIMATELY FOUR TIMES PER YEAR WITH THE PRESIDENT PRESIDING OVER THE MEETINGS. THE GOVERNING COUNCIL INCLUDES THE BOARD OF DIRECTORS AND OVER 200 OTHER MEMBERS. IT MEETS ONCE A YEAR APPROVING MAJOR ISSUES SUCH AS MEMBERSHIP CHANGES, THE ANNUAL BUDGET AND OPERATING PLAN, THE STRATEGIC PLAN, AND AMENDMENTS TO THE BYLAWS. THE GOVERNING COUNCIL IS PROVIDED WITH THE QUARTERLY FINANCIAL AND OPERATIONS REPORTS. FORM 990, PART VI, SECTION A, LINE 4 IREM STATEMENT OF POLICIES, ARTICLE 1. SECTION 1.3.7 - COMPOSITION OF THE NOMINATING COMMITTEE REVISED TO ALLOW FOR THE SECRETARY/TREASURER TO BE A VOTING MEMBER AND INCLUDE A SUBSEQUENT YEAR SECRETARY/TREASURER NOMINEE AS AN OBSERVER. IREM BYLAWS, ARTICLE V, SECTION A - REVISED TO PROVIDE CLARITY IN THE GOVERNING COUNCIL COMPOSITION THAT ONLY THE VOTING MEMBERS OF THE IREM BOARD OF DIRECTORS SHALL SERVE AS VOTING MEMBERS OF THE GOVERNING COUNCIL. IREM BYLAWS, ARTICLE V, SECTION 2 - REVISED GOVERNING COUNCIL COMPOSITION FOR CHAPTER REPRESENTATION TO INCLUDE THE CHAPTER PRESIDENT, OR IN HIS/HER ABSENCE, THE CURRENT CHAPTER VICE PRESIDENT (CURRENTLY STATED AS THE INCOMING CHAPTER PRESIDENT). IREM STATEMENT OF POLICIES, ARTICLE I, SECTION 1 - REVISED TO ALLOW THE IREM BOARD OF DIRECTORS TO APPROVE VOLUNTARY AMENDMENTS AND ARTICLE I, SECTION 2 TO PROPERLY NAME THE MODEL IREM CHAPTER BYLAWS, UPDATE THE ARTICLES AND SECTIONS OF THE MODEL IREM CHAPTER BYLAWS THAT CANNOT BE AMENDED, AND GIVE THE IREM BOARD OF DIRECTORS APPROVAL OF VOLUNTARY AMENDMENTS TO APPROPRIATE ARTICLES AND SECTIONS OF THE CHAPTER BYLAWS. FORM 990, PART VI, SECTION A, LINE 6 IREM IS A MEMBERSHIP ORGANIZATION THAT HAS JUST OVER 18,000 MEMBERS. THE TWO CATEGORIES OF MEMBERSHIP ARE DESIGNATED MEMBERS AND NONDESIGNATED MEMBERS. DESIGNATED MEMBERS ARE THOSE INDIVIDUALS WHO HAVE CERTIFIED PROPERTY MANAGER (CPM) DESIGNATION AWARDED BY THE INSTITUTE OF REAL ESTATE MANAGEMENT AND WHO, IF THEY RESIDE IN THE UNITED STATES, FURTHER HOLD SOME FORM OF MEMBERSHIP IN A MEMBER BOARD OF THE NATIONAL ASSOCIATION OF REALTORS. ONLY DESIGNATED MEMBERS ARE ELIGIBLE TO HOLD ELECTIVE OFFICE IN THE INSTITUTE OF REAL ESTATE MANAGEMENT. NONDESIGNATED MEMBERS ARE THOSE INDIVIDUALS WHO UPON WRITTEN APPLICATION TO AND APPROVAL BY THE INSTITUTE, HAVE BEEN GRANTED AND CONTINUE TO MAINTAIN MEMBERSHIP, IN ACCORDANCE WITH POLICIES ESTABLISHED BY THE IREM GOVERNING COUNCIL. FORM 990, PART VI, SECTION A, LINE 7A IREM MEMBERS MAY ELECT GOVERNING COUNCILLORS. IREM GOVERNING COUNCIL ELECTS IREM OFFICERS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 WAS PREPARED BY AN INDEPENDENT CPA FIRM AND REVIEWED BY THE STAFF. THE COMPLETED TAX RETURNS WERE PROVIDED TO THE FINANCE AND AUDIT COMMITTEE FOR REVIEW AND DISCUSSION. THE FINANCE AND AUDIT COMMITTEE REPORTS TO THE BOARD OF DIRECTORS WHICH IN TURN REPORTS TO THE GOVERNING COUNCIL AS A WHOLE. FORM 990, PART VI, SECTION B, LINE 12C ALL VOLUNTEERS ARE REQUIRED TO READ AND ELECTRONICALLY SIGN-OFF ON A CONFLICT-OF-INTEREST FORM UPON ACCEPTING THEIR ANNUAL APPOINTMENT. FORM 990, PART VI, SECTION B, LINE 15 IREM USES COMPETITIVE RESEARCH STUDIES TO DETERMINE SALARIES OF ALL STAFF INCLUDING THE CEO. THE THREE ELECTED OFFICERS OF THE BOARD APPROVE THE COMPENSATION PACKAGE OF THE CEO. THE PROCESS INCLUDES CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST