INSTITUTE OF REAL ESTATE MANAGEMENT OF THE NATL ASSN OF REALTORS: Form 990, tax year 2025

View the entire original 990 at ProPublica ↗

Organization: INSTITUTE OF REAL ESTATE MANAGEMENT OF THE NATL ASSN OF REALTORS (EIN 36-6214767)
Tax period: 2025-01-01 to 2025-12-31
Filed: 2026-07-29
IRS object ID: 202622109349300407
Schema version: 2025v4.2
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
Form 990
Schedule B
Schedule C
Schedule D
Schedule F
Schedule J
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2026-07-29T07:08:17-05:00	ReturnTs
Tax Period End	2025-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	882730877	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	CHERRY BEKAERT ADVISORY LLC	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	1707 N RANDALL ROAD STE 200	AddressLine1Txt
City	ELGIN	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60123	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2025-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	366214767	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	INSTITUTE OF REAL ESTATE MANAGEMENT	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	INST	BusinessNameControlTxt
Phone	8008370706	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	430 N MICHIGAN AVE 750	AddressLine1Txt
City	CHICAGO	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	606114090	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	CHRISTOPHER MIGALA	PersonNm
Person Title	CFAO	PersonTitleTxt
Phone	8008370706	PhoneNum
Signature	2026-07-24	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	MELANIE MCPEAK	PreparerPersonNm
PTIN	P01346034	PTIN
Phone	8478888600	PhoneNum

Field	Value	IRS element (for citing)
Tax	2025	TaxYr
Build TS	2025-03-06 01:10:19Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Address Change	Yes (X)	AddressChangeInd
Principal Officer	CHRISTOPHER MIGALA	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	430 N MICHIGAN AVE 750	AddressLine1Txt
City	CHICAGO	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	606114090	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$18,632,068	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c	Yes (X)	Organization501cInd
Website Address	WWW.IREM.ORG	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1933	FormationYr
Legal Domicile State	IL	LegalDomicileStateCd
Activity Or Mission	IREM LEADS THE PROFESSION OF REAL ESTATE MANAGEMENT BY PROVIDING UNPARALLELED EDUCATION AND CERTIFICATIONS, UPHOLDING ETHICAL STANDARDS, AND CONNECTING A GLOBAL COMMUNITY OF PEERS.	ActivityOrMissionDesc
Voting Members Governing Body	18	VotingMembersGoverningBodyCnt
Voting Members Independent	18	VotingMembersIndependentCnt
Total Employee	68	TotalEmployeeCnt
Total Volunteers	350	TotalVolunteersCnt
Total Gross UBI	$35,960	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$13,434	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$487,582	PYContributionsGrantsAmt
CY Contributions Grants	$414,378	CYContributionsGrantsAmt
PY Program Service Revenue	$12,677,551	PYProgramServiceRevenueAmt
CY Program Service Revenue	$13,036,962	CYProgramServiceRevenueAmt
PY Investment Income	$482,815	PYInvestmentIncomeAmt
CY Investment Income	$479,358	CYInvestmentIncomeAmt
PY Other Revenue	$485,922	PYOtherRevenueAmt
CY Other Revenue	$499,290	CYOtherRevenueAmt
PY Total Revenue	$14,133,870	PYTotalRevenueAmt
CY Total Revenue	$14,429,988	CYTotalRevenueAmt
PY Grants And Similar Paid	$0	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$0	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$7,277,415	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$7,713,127	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$6,908,918	PYOtherExpensesAmt
CY Other Expenses	$6,616,973	CYOtherExpensesAmt
PY Total Expenses	$14,186,333	PYTotalExpensesAmt
CY Total Expenses	$14,330,100	CYTotalExpensesAmt
PY Revenues Less Expenses	-$52,463	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$99,888	CYRevenuesLessExpensesAmt
Total Assets BOY	$9,241,977	TotalAssetsBOYAmt
Total Assets EOY	$12,500,170	TotalAssetsEOYAmt
Total Liabilities BOY	$3,663,045	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$6,385,213	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$5,578,932	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$6,114,957	NetAssetsOrFundBalancesEOYAmt
Mission	IREM LEADS THE PROFESSION OF REAL ESTATE MANAGEMENT BY PROVIDING UNPARALLELED EDUCATION AND CERTIFICATIONS, UPHOLDING ETHICAL STANDARDS, AND CONNECTING A GLOBAL COMMUNITY OF PEERS.	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Desc	CONDUCT COURSES IN PROPERTY MANAGEMENT FOR A TOTAL OF 7,900 STUDENTS.	Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

Field	Value	IRS element (for citing)
Desc	ISSUED AND MAINTAINED CERTIFICATIONS FOR OVER 10,000 INDIVIDUALS AND 400 PROPERTIES WORLDWIDE.	Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

Field	Value	IRS element (for citing)
Desc	OFFERED MEETINGS FOR THE MUTUAL EXCHANGE OF PROFESSIONAL INFORMATION FOR THE BENEFIT OF THE MEMBERSHIP.	Desc

Field	Value	IRS element (for citing)
Described In Section501c3	0	DescribedInSection501c3Ind
Schedule B Required	Yes (1)	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Subject To Proxy Tax	Yes (1)	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	0	CollectionsOfArtInd
Credit Counseling	0	CreditCounselingInd
Donor Rstr Or Quasi Endowments	0	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	Yes (1)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	0	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	Yes (1)	ReportOtherAssetsInd
Report Other Liabilities	Yes (1)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	Yes (1)	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	Yes (1)	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	0	ConsolidatedAuditFinclStmtInd
School Operating	0	SchoolOperatingInd
Foreign Office	0	ForeignOfficeInd
Foreign Activities	Yes (1)	ForeignActivitiesInd
More Than5000 K To Org	0	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	0	ProfessionalFundraisingInd
Fundraising Activities	0	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	0	GrantsToOrganizationsInd
Grants To Individuals	0	GrantsToIndividualsInd
Schedule J Required	Yes (1)	ScheduleJRequiredInd
Tax Exempt Bonds	0	TaxExemptBondsInd
Loan Outstanding	0	LoanOutstandingInd
Grant To Related Person	0	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	0	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	0	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	0	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	0	DisregardedEntityInd
Related Entity	0	RelatedEntityInd
Related Organization Ctrl Ent	0	RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
IRP Document	75	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	68	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	Yes (1)	UnrelatedBusIncmOverLimitInd
Form990 T Filed	Yes (1)	Form990TFiledInd
Foreign Financial Account	0	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	Yes (1)	NondeductibleContributionsInd
Nondeductible Contri Discl	Yes (1)	NondeductibleContriDisclInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	0	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	18	GoverningBodyVotingMembersCnt
Independent Voting Member	18	IndependentVotingMemberCnt
Family Or Business Rln	0	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	0	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	Yes (1)	MembersOrStockholdersInd
Election Of Board Members	Yes (1)	ElectionOfBoardMembersInd
Decisions Subject To Approva	0	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (1)	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	Yes (1)	LocalChaptersInd
Policies Reference Chapters	Yes (1)	PoliciesReferenceChaptersInd
Form990 Provided To Gvrn Body	Yes (1)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (1)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (1)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (1)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (1)	WhistleblowerPolicyInd
Document Retention Policy	Yes (1)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (1)	CompensationProcessCEOInd
Compensation Process Other	Yes (1)	CompensationProcessOtherInd
Investment In Joint Venture	0	InvestmentInJointVentureInd
Other Website	Yes (X)	OtherWebsiteInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	CHRISTOPHER MIGALA	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	3123296049	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	430 N MICHIGAN AVENUE SUITE 750	AddressLine1Txt
City	CHICAGO	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60611	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (29 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	OfficerOfficerInd	Key EmployeeKeyEmployeeInd	Highest Compensated EmployeeHighestCompensatedEmployeeInd
ADAM BENOIT CPM
DIRECTOR	1.00	0.00	Yes (X)	$0	$0	$0
ANGELINA SCARCELLI CPM
DIRECTOR	1.00	0.00	Yes (X)	$0	$0	$0
BRADLEY RANDALL CPM
DIRECTOR	1.00	0.00	Yes (X)	$0	$0	$0
BRANDEN BARKER CPM
DIRECTOR	1.00	0.00	Yes (X)	$0	$0	$0
CHIP WATTS CPM
IREM REP TO NAR EXECUTIVE COMMITTEE	1.00	0.00	Yes (X)	$0	$0	$0
CHRISTOPHER MELLEN CPM ARM
IREM FOUNDATION PRES. (FROM 01/25)	1.00	0.00	Yes (X)	$0	$0	$0
DAWN CARPENTER CPM
PRESIDENT	25.00	0.00	Yes (X)	$0	$0	$0	Yes (X)
DEBORAH PHILLIPS CPM
DIRECTOR	1.00	0.00	Yes (X)	$0	$0	$0
ELIZABETH EKRE CPM
IMMEDIATE PAST PRESIDENT	10.00	0.00	Yes (X)	$0	$0	$0
JASON JACKSON CPM ARM
DIRECTOR	1.00	0.00	Yes (X)	$0	$0	$0
KAREN PHARR CPM
DIRECTOR	1.00	0.00	Yes (X)	$0	$0	$0
KIMBERLY COLLINS CPM
SECRETARY/TREASURER	25.00	0.00	Yes (X)	$0	$0	$0	Yes (X)
MINDY GRONBECK CPM
PRESIDENT-ELECT	25.00	0.00	Yes (X)	$0	$0	$0	Yes (X)
NICOLE LOSER CPM
DIRECTOR	1.00	0.00	Yes (X)	$0	$0	$0
RYAN HUFFMAN CPM
DIRECTOR	25.00	0.00	Yes (X)	$0	$0	$0
SHARON SIMMONS CPM
DIRECTOR	1.00	0.00	Yes (X)	$0	$0	$0
TIMOTHY KRAMER CPM ARM
DIRECTOR	1.00	0.00	Yes (X)	$0	$0	$0
TONI HARRIS CPM ARM
DIRECTOR	1.00	0.00	Yes (X)	$0	$0	$0
CHRISTOPHER MIGALA
CFAO	45.00	0.00		$205,015	$0	$49,864	Yes (X)
MARIE BERNADETTE PATTON
INTERIM CEO (THRU 01/21/25)	45.00	0.00		$39,000	$0	$0	Yes (X)
ZACHARIAH WAHLQUIST
EVP AND CEO (FROM 01/21/25)	45.00	0.00		$300,900	$0	$55,756	Yes (X)
BRIDGET TERRONES
VICE-PRESIDENT, MARKETING	45.00	0.00		$175,001	$0	$27,467		Yes (X)
LYNN DISBROW
COO	45.00	0.00		$224,052	$0	$33,278		Yes (X)
WENDY BECKER
CPO	45.00	0.00		$217,663	$0	$23,551		Yes (X)
ALEX LEVIN
SR. DIRECTOR, TECHNOLOGY & COM	45.00	0.00		$159,278	$0	$36,185			Yes (X)
JOEL LOUGHMAN
DIRECTOR, ASSOCIATION MANAGEME	45.00	0.00		$144,774	$0	$24,094			Yes (X)
LEAH MISBIN
SR. DIRECTOR, INTERNATIONAL PROGRAMS	45.00	0.00		$129,030	$0	$34,653			Yes (X)
LILLIANE SMOTHERS
SR. DIRECTOR, MEMBERSHIP & CHAPTERS	45.00	0.00		$140,946	$0	$25,487			Yes (X)
STACY PRICHISKY
DIRECTOR, HUMAN RESOURCES	45.00	0.00		$138,954	$0	$24,358			Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$1,874,613	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$334,693	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	16	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	0	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (1)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt
PERSONIFY INC
PO BOX 759470	BALTIMORE	MD	21275	ASSOCIATION MANAGEMENT	$261,413
LOBBY CRE LLC
201 RAMPART STREET	CHARLOTTE	NC	28203	ASSET MANAGEMENT	$204,000
BACKPOCKET AGENCY LLC
1647 W OLIVE AVE	CHICAGO	IL	60660	MARKETING	$192,240
CISO GLOBAL INC
6900 E CAMELBACK ROAD SUITE 900	SCOTTSDALE	AZ	85251	CYBERSECURITY	$177,207
WARREN MCKENNA DESIGN GROUP INC
77 W WACKER DR 4500	CHICAGO	IL	60601	MARKETING	$144,241

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	8	CntrctRcvdGreaterThan100KCnt
All Other Contributions	$414,378	AllOtherContributionsAmt
Total Contributions	$414,378	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt	Unrelated Business RevenueUnrelatedBusinessRevenueAmt
MEMBERSHIP DUES	900099	$6,663,734	$6,663,734
LEARNING	900099	$3,016,771	$3,016,771
APPLICATIONS & EXAMS	900099	$2,492,715	$2,492,715
MEETINGS & CONFERENCES	900099	$619,670	$619,670
PUBLISHING	541800	$244,072	$208,112	$35,960

Field	Value	IRS element (for citing)
Total Program Service Revenue	$13,036,962	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$337,879	TotalRevenueColumnAmt
Exclusion	$337,879	ExclusionAmt

Royalties Revenue RoyaltiesRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$90,267	TotalRevenueColumnAmt
Exclusion	$90,267	ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Securities	$4,343,559	SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Securities	$4,202,080	SecuritiesAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	$141,479	SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$141,479	TotalRevenueColumnAmt
Exclusion	$141,479	ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp (2 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt	ExclusionExclusionAmt
MANAGEMENT SERVICE CONTRACT	900099	$406,578	$406,578
MISC. INTERNATIONAL REVENUE	900099	$2,445		$2,445

Field	Value	IRS element (for citing)
Other Revenue Total	$409,023	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$14,429,988	TotalRevenueColumnAmt
Related Or Exempt Func Income	$13,407,580	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$35,960	UnrelatedBusinessRevenueAmt
Exclusion	$572,070	ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$1,351,546	TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$4,795,199	TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$398,964	TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$698,440	TotalAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$468,978	TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$45,920	TotalAmt

Fees For Services Lobbying FeesForServicesLobbyingGrp

Field	Value	IRS element (for citing)
Total	$69,243	TotalAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$30,862	TotalAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$635,717	TotalAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$453,554	TotalAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$321,259	TotalAmt

Royalties RoyaltiesGrp

Field	Value	IRS element (for citing)
Total	$8,822	TotalAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$399,508	TotalAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$538,557	TotalAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$1,065,909	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$254,496	TotalAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$67,806	TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt
CHAPTER EXPENSES	$781,180
MAINTENANCE AND REPAIRS	$749,747
SERVICE AND ADMIN FEES	$402,488
MEMBER PAYMENTS	$239,875

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$552,030	TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$14,330,100	TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$609,694	BOYAmt
EOY	$554,916	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$208,120	BOYAmt
EOY	$181,218	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$268,601	BOYAmt
EOY	$195,504	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$583,816	BOYAmt
EOY	$558,389	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$2,691,858	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$1,624,082	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$521,317	BOYAmt
EOY	$1,067,776	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$7,050,429	BOYAmt
EOY	$7,786,217	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$2,156,150	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$9,241,977	BOYAmt
EOY	$12,500,170	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$945,601	BOYAmt
EOY	$1,855,230	EOYAmt

Deferred Revenue DeferredRevenueGrp

Field	Value	IRS element (for citing)
BOY	$2,717,444	BOYAmt
EOY	$2,359,572	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$2,170,411	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$3,663,045	BOYAmt
EOY	$6,385,213	EOYAmt

Field	Value	IRS element (for citing)
Organization Follows FASB117	Yes (X)	OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$5,578,932	BOYAmt
EOY	$6,114,957	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$5,578,932	BOYAmt
EOY	$6,114,957	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$9,241,977	BOYAmt
EOY	$12,500,170	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	$99,888	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$436,137	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	$0	OtherChangesInNetAssetsAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	Yes (1)	FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

Field	Value	IRS element (for citing)
Separate Basis Fincl Stmt	Yes (X)	SeparateBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (1)	AuditCommitteeInd
Federal Grant Audit Required	0	FederalGrantAuditRequiredInd

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

Field	Value	IRS element (for citing)
Contributor	RESTRICTED	ContributorNum

Contributor Business Name ContributorBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	RESTRICTED	BusinessNameLine1

Contributor US Address ContributorUSAddress

Field	Value	IRS element (for citing)
Address Line1	RESTRICTED	AddressLine1
Address Line2	RESTRICTED	AddressLine2
City	RESTRICTED	City
State	RESTRICTED	State
ZIP Code	RESTRICTED	ZIPCode

Field	Value	IRS element (for citing)
Total Contributions	RESTRICTED	TotalContributionsAmt

Schedule C IRS990ScheduleC

Field	Value	IRS element (for citing)
Substantially All Dues Nonded	0	SubstantiallyAllDuesNondedInd
Only In House Lobbying	0	OnlyInHouseLobbyingInd
Agree Carryover Prior Year	0	AgreeCarryoverPriorYearInd
Dues Assessments	$6,663,734	DuesAssessmentsAmt
Non Deductible Lbbyng Pltcl CY	$238,629	NonDeductibleLbbyngPltclCYAmt
Non Ded Lbbyng Pltcl Cyov	-$47,264	NonDedLbbyngPltclCyovAmt
Non Deductible Lbbyng Pltcl Tot	$191,365	NonDeductibleLbbyngPltclTotAmt
Aggregate Reported Dues Ntc	$306,404	AggregateReportedDuesNtcAmt
Taxable	-$115,039	TaxableAmt

Schedule D IRS990ScheduleD

Leasehold Improvements LeaseholdImprovementsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$817,339	OtherCostOrOtherBasisAmt
Depreciation	$193,542	DepreciationAmt
Book Value	$623,797	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$1,795,672	OtherCostOrOtherBasisAmt
Depreciation	$1,430,540	DepreciationAmt
Book Value	$365,132	BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$78,847	OtherCostOrOtherBasisAmt
Book Value	$78,847	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$1,067,776	TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp

Field	Value	IRS element (for citing)
Desc	RIGHT-OF-USE ASSETS - OPERATING LEASES	Desc
Book Value	$2,156,150	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Other Assets	$2,156,150	TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

Field	Value	IRS element (for citing)
Desc	OPERATING LEASE LIABILITIES	Desc
Amt	$2,170,411	Amt

Field	Value	IRS element (for citing)
Total Liability	$2,170,411	TotalLiabilityAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$14,835,263	TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst	$436,137	NetUnrealizedGainsInvstAmt
Revenue Not Reported	$436,137	RevenueNotReportedAmt
Revenue Subtotal	$14,399,126	RevenueSubtotalAmt
Investment Expenses Not Incld	$30,862	InvestmentExpensesNotIncldAmt
Revenue Not Reported Fincl Stmt	$30,862	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$14,429,988	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$14,299,238	TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported	$0	ExpensesNotReportedAmt
Expenses Subtotal	$14,299,238	ExpensesSubtotalAmt
Investment Expenses Not Incld2	$30,862	InvestmentExpensesNotIncld2Amt
Expenses Not Rpt Fincl Stmt	$30,862	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$14,330,100	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART X, LINE 2:	FormAndLineReferenceDesc
Explanation	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, 2025.	ExplanationTxt

Schedule F IRS990ScheduleF

Account Activities Outside US AccountActivitiesOutsideUSGrp (6 entries)

RegionRegionTxt	Type Of Activities ConductedTypeOfActivitiesConductedTxt	Specific Services ProvidedSpecificServicesProvidedTxt	Region Total ExpendituresRegionTotalExpendituresAmt
EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA,	PROGRAM SERVICES	MEMBERSHIP AND EDUCATION	$133,267
MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT,	PROGRAM SERVICES	MEMBERSHIP AND EDUCATION	$98,725
SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO,	PROGRAM SERVICES	MEMBERSHIP AND EDUCATION	$35,403
NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES	PROGRAM SERVICES	MEMBERSHIP AND EDUCATION	$50,873
RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS,	PROGRAM SERVICES	MEMBERSHIP AND EDUCATION	$2,875
SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR,	PROGRAM SERVICES	MEMBERSHIP AND EDUCATION	$1,012

Field	Value	IRS element (for citing)
Subtotal Offices	0	SubtotalOfficesCnt
Subtotal Employees	0	SubtotalEmployeesCnt
Continuation Total Office	0	ContinuationTotalOfficeCnt
Continuation Total Employee	0	ContinuationTotalEmployeeCnt
Total Office	0	TotalOfficeCnt
Total Employee	0	TotalEmployeeCnt
Subtotal Spent	$322,155	SubtotalSpentAmt
Continuation Spent	$0	ContinuationSpentAmt
Total Spent	$322,155	TotalSpentAmt
Transfer To Foreign Corp	0	TransferToForeignCorpInd
Interest In Foreign Trust	0	InterestInForeignTrustInd
Foreign Corp Ownership	0	ForeignCorpOwnershipInd
Passive Foreign Investmest Co	0	PassiveForeignInvestmestCoInd
Foreign Partnership	0	ForeignPartnershipInd
Boycott Countries	0	BoycottCountriesInd

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART I, LINE 2:	FormAndLineReferenceDesc
Explanation	IREM ACCOUNTS FOR EXPENDITURES BY COUNTRY FOR ITS EDUCATIONAL OFFERINGS AND TRAVEL EXPENSES ON THE ACCRUAL METHOD. IREM ALSO INCURRED EXPENSES AND OTHER COSTS ASSOCIATED WITH FOREIGN MEMBERSHIP AND EDUCATION THAT ARE NOT IDENTIFIED WITH ANY SPECIFIC COUNTRY, INCLUDING TRANSLATION, WEBSITE SUBSIDIES AND GENERAL SUPPLIES. MOST EXPENSES NOTED WERE INCURRED IN THE UNITED STATES FOR TRANSLATIONS, TRAVEL OR TO COMPENSATE U.S. INSTRUCTORS.	ExplanationTxt

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
First Class Or Charter Travel	Yes (X)	FirstClassOrCharterTravelInd
Travel For Companions	Yes (X)	TravelForCompanionsInd
Idemnification Gross Up Pmts	Yes (X)	IdemnificationGrossUpPmtsInd
Written Policy Ref T And E Expnss	Yes (1)	WrittenPolicyRefTAndEExpnssInd
Substantiation Required	Yes (1)	SubstantiationRequiredInd
Form990 Of Other Organizations	Yes (X)	Form990OfOtherOrganizationsInd
Written Employment Contract	Yes (X)	WrittenEmploymentContractInd
Board Or Committee Approval	Yes (X)	BoardOrCommitteeApprovalInd
Severance Payment	0	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	0	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	0	EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt	Bonus Filing OrganizationBonusFilingOrganizationAmount	Bonus Related OrganizationsBonusRelatedOrganizationsAmt	Other Compensation Filing OrgOtherCompensationFilingOrgAmt	Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt	Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt	Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt	Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt	Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt	Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
ZACHARIAH WAHLQUIST
EVP AND CEO (FROM 01/21/25)	$300,900	$0	$0	$0	$0	$0	$30,838	$0	$24,918	$0	$356,656	$0	$0	$0
LYNN DISBROW
COO	$224,052	$0	$0	$0	$0	$0	$23,095	$0	$10,183	$0	$257,330	$0	$0	$0
CHRISTOPHER MIGALA
CFAO	$205,015	$0	$0	$0	$0	$0	$21,795	$0	$28,069	$0	$254,879	$0	$0	$0
WENDY BECKER
CPO	$217,663	$0	$0	$0	$0	$0	$21,806	$0	$1,745	$0	$241,214	$0	$0	$0
BRIDGET TERRONES
VICE-PRESIDENT, MARKETING	$175,001	$0	$0	$0	$0	$0	$17,705	$0	$9,762	$0	$202,468	$0	$0	$0
ALEX LEVIN
SR. DIRECTOR, TECHNOLOGY & COM	$154,278	$0	$5,000	$0	$0	$0	$16,333	$0	$19,852	$0	$195,463	$0	$0	$0
JOEL LOUGHMAN
DIRECTOR, ASSOCIATION MANAGEME	$144,774	$0	$0	$0	$0	$0	$14,680	$0	$9,414	$0	$168,868	$0	$0	$0
LILLIANE SMOTHERS
SR. DIRECTOR, MEMBERSHIP & CHAPTERS	$140,946	$0	$0	$0	$0	$0	$14,692	$0	$10,795	$0	$166,433	$0	$0	$0
LEAH MISBIN
SR. DIRECTOR, INTERNATIONAL PROGRAMS	$129,030	$0	$0	$0	$0	$0	$13,706	$0	$20,947	$0	$163,683	$0	$0	$0
STACY PRICHISKY
DIRECTOR, HUMAN RESOURCES	$138,954	$0	$0	$0	$0	$0	$14,152	$0	$10,206	$0	$163,312	$0	$0	$0

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART I, LINE 1A	FormAndLineReferenceDesc
Explanation	-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.	ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
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 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 COUNCILORS. 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