Commercial Real Estate Finance Council Inc
- Assets
- $15.6m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 18
- Location
- New York, NY
- Founding
- 07/1997
- Data as of
- 12/2021
- EIN
- 48-1150519
Organization Overview
Commercial Real Estate Finance Council Inc is located in New York, NY. The organization was established in 1997. According to its NTEE Classification (A70) the organization is classified as: Humanities, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Commercial Real Estate Finance Council Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Commercial Real Estate Finance Council Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Commercial Real Estate Finance Council Inc generated $8.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $9.0m during the year ending 12/2021. 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
MEMBERS OF THE COMMERCIAL REAL ESTATE FINANCE INDUSTRY TO DEVELOP BEST PRACTICES AND POLICIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONFERENCES- TO PROVIDE MULTIPLE FORUMS FOR ADDRESSING ISSUES THAT IMPACT THE COMMERCIAL REAL ESTATE FINANCE INDUSTRY.
WASHINGTON - EFFORTS TO FURTHER GENERAL ISSUES REGARDING COMMERCIAL REAL ESTATE FINANCE ACTIVITY AND GOVERNMENT RELATIONS.
REGIONAL MEETINGS & EDUCATION - TO PROVIDE A CONTINOUS FLOW OF INFORMATION TO LOCAL CITIES ACROSS THE COUNTRY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa A Pendergast Executive Director | Officer | 40 | $814,426 |
Edward W Deangelo Senior Managing Director, | Officer | 40 | $415,345 |
Kathleen Olin Managing Director, Industry Initiatives | 40 | $350,142 | |
Sairah Burki Managing Director,regulatory Policy | 40 | $328,697 | |
Rajesh Aidasani Senior Director, Research | 40 | $285,737 | |
Justin Ailes Managing Director, Government | 40 | $247,697 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Steptoe And Johnson Llp Legal Services | 12/30/21 | $790,545 |
Corporate Optics Event Design Services | 12/30/21 | $361,420 |
Ethos Event Collective Event Design Services | 12/30/21 | $225,586 |
Prosek Llc Marketing Services | 12/30/21 | $194,460 |
Gotham Artists Commercial Support Services | 12/30/21 | $209,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $8,366,276 |
| Investment income | $1,043 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$276,051 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,091,268 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,229,771 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,747,337 |
| Pension plan accruals and contributions | $423,318 |
| Other employee benefits | $527,962 |
| Payroll taxes | $214,007 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $662,290 |
| Fees for services: Accounting | $32,250 |
| Fees for services: Lobbying | $140,400 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $188,299 |
| Advertising and promotion | $211,858 |
| Office expenses | $1,216 |
| Information technology | $68,834 |
| Royalties | $0 |
| Occupancy | $581,393 |
| Travel | $18,260 |
| 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 | $207,380 |
| Insurance | $101,597 |
| All other expenses | $142,098 |
| Total functional expenses | $9,001,746 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,971,423 |
| Savings and temporary cash investments | $91,343 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $250,076 |
| 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 | $684,667 |
| Net Land, buildings, and equipment | $313,254 |
| Investments—publicly traded securities | $8,896,552 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $434,304 |
| Total assets | $15,641,619 |
| Accounts payable and accrued expenses | $1,839,225 |
| Grants payable | $0 |
| Deferred revenue | $4,930,379 |
| 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 | $512,290 |
| Total liabilities | $7,281,894 |
| Net assets without donor restrictions | $8,359,725 |
| Net assets with donor restrictions | $0 |
| 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 | $15,641,619 |
Grants Awarded
Over the last fiscal year, Commercial Real Estate Finance Council Inc has awarded $1,665,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: RESEARCH AND STUDIES | $1,500,000 |
New York, NY PURPOSE: CREFC CENTER FOR REAL ESTATE FINANCE AT THE SCHACK INSTITUTE | $65,000 |
New York, NY PURPOSE: GENERAL SUPPORT | $50,000 |
Santa Barbara, CA PURPOSE: COVID-19 RELIEF | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Modern Language Association Of America New York, NY | $26,742,104 | $16,207,433 |
American Philosophical Society Philadelphia, PA | $294,142,753 | $31,170,811 |
Pen American Center Inc New York, NY | $36,781,487 | $29,059,092 |
Commercial Real Estate Finance Council Inc New York, NY | $15,641,619 | $8,091,268 |
Archaeological Institute Of America Boston, MA | $15,760,718 | $9,516,750 |
Academy Of American Poets Incorporated New York, NY | $16,980,319 | $4,039,105 |
Grub Street Inc Boston, MA | $11,789,751 | $6,194,111 |
Center For Inquiry Inc Amherst, NY | $8,104,198 | $5,991,557 |
National Book Foundation Inc New York, NY | $4,696,616 | $3,836,375 |
Hawthornden Literary Retreat Pittsburgh, PA | $228,597,299 | $115,561,060 |
Connecticut Humanities Council Middletown, CT | $1,530,926 | $3,295,528 |
New York Council For The Humanities New York, NY | $2,496,894 | $3,586,085 |