Institute Of Real Estate Management Foundation
- Assets
- $2.6m
- Revenue
- $851.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 09/1977
- Data as of
- 12/2021
- EIN
- 36-2924251
Organization Overview
Institute Of Real Estate Management Foundation is located in Chicago, IL. The organization was established in 1977. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute Of Real Estate Management Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Institute Of Real Estate Management Foundation generated $851.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $840.4k during the year ending 12/2021. While expenses have increased by 13.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE RESOURCES FOR PEOPLE AND ORGANIZATIONS SEEKING TO ADVANCE THE REAL ESTATE PROFESSION
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHOLARSHIP PROGRAMS ARE DESIGNED TO ATTRACT AND DEVELOP INDIVIDUALS FOR CAREERS IN REAL ESTATE MANAGEMENT.
OUTREACH TO SUPPORT THE DEVELOPMENT OF A WELL-EQUIPED, DIVERSE, NEXT GENERATION WORKFORCE.
RESEARCH TO PROVIDE RESOURCES FOR THOSE SEEKING TO ADVANCE THE REAL ESTATE MANAGEMENT PROFESSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Scott Cpm President | OfficerTrustee | 1 | $0 |
Karen Pharr Cpm Vice President | OfficerTrustee | 1 | $0 |
Christopher Migala Assistant Treasurer | Officer | 1 | $0 |
Clark Lindstrom Cpm Ex-Officio Director | Trustee | 1 | $0 |
Renee Savage Cpm Ex-Officio Director | Trustee | 1 | $0 |
Christopher Mellen Cpm Arm Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $36,266 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $662,268 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $698,534 |
| Total Program Service Revenue | $10,000 |
| Investment income | $104,623 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $53,682 |
| Net Income from Fundraising Events | -$15,287 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $851,552 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $184,487 |
| Grants and other assistance to domestic individuals. | $419,482 |
| Grants and other assistance to Foreign Orgs/Individuals | $22,407 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $125,000 |
| Fees for services: Legal | $1,715 |
| Fees for services: Accounting | $10,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,839 |
| Fees for services: Other | $7,733 |
| Advertising and promotion | $0 |
| Office expenses | $1,780 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $21,640 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,690 |
| Total functional expenses | $840,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,122 |
| Savings and temporary cash investments | $295,869 |
| Pledges and grants receivable | $10,251 |
| Accounts receivable, net | $11,142 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,967 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,169,584 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $39,873 |
| Total assets | $2,627,808 |
| Accounts payable and accrued expenses | $99,683 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $99,683 |
| Net assets without donor restrictions | $2,338,793 |
| Net assets with donor restrictions | $189,332 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,627,808 |
Grants Awarded
Over the last fiscal year, Institute Of Real Estate Management Foundation has awarded $163,557 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Tuscaloosa, AL PURPOSE: Academic outreach & Real Estate Assoc Programs | $100,000 |
Chicago, IL PURPOSE: Academic outreach & Real Estate Assoc Programs | $63,557 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Institute Of Real Estate Management Foundation has recieved totaling $5,089.
| Awarding Organization | Amount |
|---|---|
Institute Of Real Estate Management Of The Natl Assn Of Realtors Chandler, AZ PURPOSE: Scholarships | $5,089 |
Endowment Analysis
| Beg. Balance | $1,204,859 |
| Earnings | $34,041 |
| Net Contributions | $66,235 |
| Other Expense | $1,174 |
| Grants | $20,500 |
| Ending Balance | $1,283,461 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Institute Of Real Estate Management Of The Natl Assn Of Realtors Chicago, IL | $10,741,868 | $14,078,057 |
Illinois Assn Of Realtors Springfield, IL | $43,746,253 | $17,014,133 |
Center For Specialized Realtor Education Inc Chicago, IL | $26,431,436 | $9,121,401 |
Swedish American Realty Corporation Rockford, IL | $18,485,524 | $7,044,065 |
Sdco Sfs Logistics Center Inc Chicago, IL | $145,459,378 | $6,525,972 |
Ipers 510 Marquette Inc Chicago, IL | $54,685,062 | $6,518,064 |
Ipers Creekside Inc Chicago, IL | $129,458,514 | $6,603,466 |
Savelli Properties Inc St Louis, MO | $35,804,880 | $2,705,555 |
Ipers Villas On Guadalupe-Tx Inc Chicago, IL | $47,058,177 | $4,863,492 |
Oakland 14th Office Inc Chicago, IL | $72,846,084 | $5,287,147 |
Highlands 501c 25 Inc Chicago, IL | $44,455,397 | $4,360,723 |
Sdc Clifton Commons Inc Chicago, IL | $61,522,059 | $4,418,653 |