2026-07-29T07:08:17-05:00 2025-12-31 882730877 CHERRY BEKAERT ADVISORY LLC 1707 N RANDALL ROAD STE 200 ELGIN IL 60123 990 2025-01-01 366214767 INSTITUTE OF REAL ESTATE MANAGEMENT INST 8008370706 430 N MICHIGAN AVE 750 CHICAGO IL 606114090 CHRISTOPHER MIGALA CFAO 8008370706 2026-07-24 1 MELANIE MCPEAK P01346034 8478888600 2025 2025-03-06 01:10:19Z X CHRISTOPHER MIGALA 430 N MICHIGAN AVE 750 CHICAGO IL 606114090 18632068 0 X WWW.IREM.ORG X 1933 IL IREM LEADS THE PROFESSION OF REAL ESTATE MANAGEMENT BY PROVIDING UNPARALLELED EDUCATION AND CERTIFICATIONS, UPHOLDING ETHICAL STANDARDS, AND CONNECTING A GLOBAL COMMUNITY OF PEERS. 18 18 68 350 35960 13434 487582 414378 12677551 13036962 482815 479358 485922 499290 14133870 14429988 0 0 0 0 7277415 7713127 0 0 0 6908918 6616973 14186333 14330100 -52463 99888 9241977 12500170 3663045 6385213 5578932 6114957 IREM LEADS THE PROFESSION OF REAL ESTATE MANAGEMENT BY PROVIDING UNPARALLELED EDUCATION AND CERTIFICATIONS, UPHOLDING ETHICAL STANDARDS, AND CONNECTING A GLOBAL COMMUNITY OF PEERS. 0 0 CONDUCT COURSES IN PROPERTY MANAGEMENT FOR A TOTAL OF 7,900 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 1 1 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 75 0 1 68 1 1 1 0 0 0 1 1 0 0 0 X 18 18 0 0 0 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 750 CHICAGO IL 60611 ADAM BENOIT CPM DIRECTOR 1.00 0.00 X 0 0 0 ANGELINA SCARCELLI CPM DIRECTOR 1.00 0.00 X 0 0 0 BRADLEY RANDALL CPM DIRECTOR 1.00 0.00 X 0 0 0 BRANDEN BARKER CPM DIRECTOR 1.00 0.00 X 0 0 0 CHIP WATTS CPM IREM REP TO NAR EXECUTIVE COMMITTEE 1.00 0.00 X 0 0 0 CHRISTOPHER MELLEN CPM ARM IREM FOUNDATION PRES. (FROM 01/25) 1.00 0.00 X 0 0 0 DAWN CARPENTER CPM PRESIDENT 25.00 0.00 X X 0 0 0 DEBORAH PHILLIPS CPM DIRECTOR 1.00 0.00 X 0 0 0 ELIZABETH EKRE CPM IMMEDIATE PAST PRESIDENT 10.00 0.00 X 0 0 0 JASON JACKSON CPM ARM DIRECTOR 1.00 0.00 X 0 0 0 KAREN PHARR CPM DIRECTOR 1.00 0.00 X 0 0 0 KIMBERLY COLLINS CPM SECRETARY/TREASURER 25.00 0.00 X X 0 0 0 MINDY GRONBECK CPM PRESIDENT-ELECT 25.00 0.00 X X 0 0 0 NICOLE LOSER CPM DIRECTOR 1.00 0.00 X 0 0 0 RYAN HUFFMAN CPM DIRECTOR 25.00 0.00 X 0 0 0 SHARON SIMMONS CPM DIRECTOR 1.00 0.00 X 0 0 0 TIMOTHY KRAMER CPM ARM DIRECTOR 1.00 0.00 X 0 0 0 TONI HARRIS CPM ARM DIRECTOR 1.00 0.00 X 0 0 0 CHRISTOPHER MIGALA CFAO 45.00 0.00 X 205015 0 49864 MARIE BERNADETTE PATTON INTERIM CEO (THRU 01/21/25) 45.00 0.00 X 39000 0 0 ZACHARIAH WAHLQUIST EVP AND CEO (FROM 01/21/25) 45.00 0.00 X 300900 0 55756 BRIDGET TERRONES VICE-PRESIDENT, MARKETING 45.00 0.00 X 175001 0 27467 LYNN DISBROW COO 45.00 0.00 X 224052 0 33278 WENDY BECKER CPO 45.00 0.00 X 217663 0 23551 ALEX LEVIN SR. DIRECTOR, TECHNOLOGY & COM 45.00 0.00 X 159278 0 36185 JOEL LOUGHMAN DIRECTOR, ASSOCIATION MANAGEME 45.00 0.00 X 144774 0 24094 LEAH MISBIN SR. DIRECTOR, INTERNATIONAL PROGRAMS 45.00 0.00 X 129030 0 34653 LILLIANE SMOTHERS SR. DIRECTOR, MEMBERSHIP & CHAPTERS 45.00 0.00 X 140946 0 25487 STACY PRICHISKY DIRECTOR, HUMAN RESOURCES 45.00 0.00 X 138954 0 24358 1874613 0 334693 16 0 1 0 PERSONIFY INC PO BOX 759470 BALTIMORE MD 21275 ASSOCIATION MANAGEMENT 261413 LOBBY CRE LLC 201 RAMPART STREET CHARLOTTE NC 28203 ASSET MANAGEMENT 204000 BACKPOCKET AGENCY LLC 1647 W OLIVE AVE CHICAGO IL 60660 MARKETING 192240 CISO GLOBAL INC 6900 E CAMELBACK ROAD SUITE 900 SCOTTSDALE AZ 85251 CYBERSECURITY 177207 WARREN MCKENNA DESIGN GROUP INC 77 W WACKER DR 4500 CHICAGO IL 60601 MARKETING 144241 8 414378 414378 MEMBERSHIP DUES 900099 6663734 6663734 LEARNING 900099 3016771 3016771 APPLICATIONS & EXAMS 900099 2492715 2492715 MEETINGS & CONFERENCES 900099 619670 619670 PUBLISHING 541800 244072 208112 35960 13036962 337879 337879 90267 90267 4343559 4202080 141479 141479 141479 MANAGEMENT SERVICE CONTRACT 900099 406578 406578 MISC. INTERNATIONAL REVENUE 900099 2445 2445 409023 14429988 13407580 35960 572070 1351546 4795199 398964 698440 468978 45920 69243 30862 635717 453554 321259 8822 399508 538557 1065909 254496 67806 CHAPTER EXPENSES 781180 MAINTENANCE AND REPAIRS 749747 SERVICE AND ADMIN FEES 402488 MEMBER PAYMENTS 239875 552030 14330100 609694 554916 208120 181218 268601 195504 583816 558389 2691858 1624082 521317 1067776 7050429 7786217 0 2156150 9241977 12500170 945601 1855230 2717444 2359572 0 2170411 3663045 6385213 X 5578932 6114957 5578932 6114957 9241977 12500170 99888 436137 0 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 6663734 238629 -47264 191365 306404 -115039 817339 193542 623797 1795672 1430540 365132 78847 78847 1067776 RIGHT-OF-USE ASSETS - OPERATING LEASES 2156150 2156150 OPERATING LEASE LIABILITIES 2170411 2170411 X 14835263 436137 436137 14399126 30862 30862 14429988 14299238 0 14299238 30862 30862 14330100 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, 2025. EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES MEMBERSHIP AND EDUCATION 133267 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 PROGRAM SERVICES MEMBERSHIP AND EDUCATION 98725 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 PROGRAM SERVICES MEMBERSHIP AND EDUCATION 35403 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES MEMBERSHIP AND EDUCATION 50873 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 0 0 PROGRAM SERVICES MEMBERSHIP AND EDUCATION 2875 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 PROGRAM SERVICES MEMBERSHIP AND EDUCATION 1012 0 0 0 0 0 0 322155 0 322155 0 0 0 0 0 0 PART I, LINE 2: 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. X X X 1 1 X X X 0 0 0 ZACHARIAH WAHLQUIST EVP AND CEO (FROM 01/21/25) 300900 0 0 0 0 0 30838 0 24918 0 356656 0 0 0 LYNN DISBROW COO 224052 0 0 0 0 0 23095 0 10183 0 257330 0 0 0 CHRISTOPHER MIGALA CFAO 205015 0 0 0 0 0 21795 0 28069 0 254879 0 0 0 WENDY BECKER CPO 217663 0 0 0 0 0 21806 0 1745 0 241214 0 0 0 BRIDGET TERRONES VICE-PRESIDENT, MARKETING 175001 0 0 0 0 0 17705 0 9762 0 202468 0 0 0 ALEX LEVIN SR. DIRECTOR, TECHNOLOGY & COM 154278 0 5000 0 0 0 16333 0 19852 0 195463 0 0 0 JOEL LOUGHMAN DIRECTOR, ASSOCIATION MANAGEME 144774 0 0 0 0 0 14680 0 9414 0 168868 0 0 0 LILLIANE SMOTHERS SR. DIRECTOR, MEMBERSHIP & CHAPTERS 140946 0 0 0 0 0 14692 0 10795 0 166433 0 0 0 LEAH MISBIN SR. DIRECTOR, INTERNATIONAL PROGRAMS 129030 0 0 0 0 0 13706 0 20947 0 163683 0 0 0 STACY PRICHISKY DIRECTOR, HUMAN RESOURCES 138954 0 0 0 0 0 14152 0 10206 0 163312 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. 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