Real Estate Council Community Fund
- Assets
- $12.2m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 6
- Location
- Dallas, TX
- Founding
- 06/2014
- Data as of
- 12/2021
- EIN
- 80-0718545
Organization Overview
Real Estate Council Community Fund is located in Dallas, TX. The organization was established in 2014. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2021, Real Estate Council Community Fund employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Real Estate Council Community Fund 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, Real Estate Council Community Fund generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 37.4% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 46.6% 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
TREC COMMUNITY INVESTORS JOINS FORCES WITH UNDERSERVED COMMUNITIES TO INVEST IN THE DISINVESTED, ENERGIZE NEIGHBORHOODS, AND CHANGE LIVES. THROUGH ACCESS TO FLEXIBLE CAPITAL AND REAL ESTATE EXPERTISE, WE MAKE AN UNWAVERING COMMITMENT TO BUILD A LASTING IMPACT IN THE COMMUNITIES WE SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEIGHBORHOOD REVITALIZATION: TREC CI PARTNERS WITH OTHER COMMUNITY ORGANIZATIONS TO FOCUS ON JOB AND WEALTH CREATION AND COMMUNITY OWNERSHIP AND LEADERSHIP OPPORTUNITIES IN NEIGHBORHOODS THAT ARE MOST VULNERABLE TO RAPID ECONOMIC TRANSITION.
HOUSING: TREC CI HAS A SIGNIFICANT ROLE IN THE CREATION OF AN AFFORDABLE HOUSING FUND TO PROVIDE FOR LAND ACQUISITION AND HOUSING CONSTRUCTION/REHABILITATION FOR VULNERABLE NEIGHBORHOODS; PROVIDES FUNDING FOR HOME IMPROVEMENT PROJECTS; PROVIDES PROFESSIONAL SERVICES AND VOLUNTEER SUPPORT AS WELL AS GRANTS FOR REHABILITATION PROJECTS, AND PLAYS A ROLE IN THE ESTABLISHMENT OF A COMMUNITY LAND TRUST.
EDUCATION: TREC CI OFFERS TARGETED LEARNING OPPORTUNITIES FOR THOSE IN THE COMMUNITY WHO WANT TO EXPAND THEIR KNOWLEDGE OF REAL ESTATE. PARTICIPANTS ARE SELECTED THROUGH AN APPLICATION PROCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Felicia Pierson Sr. Director | 36 | $102,386 | |
Linda Mcmahon Ceo/president | Officer | 10 | $78,597 |
Summer Loveland CFO | Officer | 14 | $32,456 |
Carla Brandt CFO (thru 6/30/21) | Officer | 10 | $19,354 |
Denise Mason Chairman | OfficerTrustee | 1 | $0 |
Chase Stone Vice Chairman | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $452,956 |
| Government grants | $51,187 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,376,455 |
| Noncash contributions included in lines 1a–1f | $11,887 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,880,598 |
| Total Program Service Revenue | $126,412 |
| Investment income | $7,540 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $174,889 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,221,156 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $147,456 |
| 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. | $136,997 |
| Compensation of current officers, directors, key employees. | $10,960 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $639,013 |
| Pension plan accruals and contributions | $19,183 |
| Other employee benefits | $32,226 |
| Payroll taxes | $55,172 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4 |
| Fees for services: Accounting | $37,840 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $112,364 |
| Advertising and promotion | $42,112 |
| Office expenses | $30,479 |
| Information technology | $74,248 |
| Royalties | $0 |
| Occupancy | $85,136 |
| Travel | $696 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,433 |
| Interest | $32,680 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,839 |
| Insurance | $9,665 |
| All other expenses | $0 |
| Total functional expenses | $1,648,439 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $328,693 |
| Savings and temporary cash investments | $7,030,196 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,341,646 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $76,886 |
| Net Land, buildings, and equipment | $54,807 |
| Investments—publicly traded securities | $3,078,730 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $283,759 |
| Total assets | $12,217,217 |
| Accounts payable and accrued expenses | $64,081 |
| Grants payable | $1,557,872 |
| Deferred revenue | $623,472 |
| 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 | $323,637 |
| Other liabilities | $747,266 |
| Total liabilities | $3,316,328 |
| Net assets without donor restrictions | $4,300,768 |
| Net assets with donor restrictions | $4,600,121 |
| 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 | $12,217,217 |
Grants Awarded
Over the last fiscal year, Real Estate Council Community Fund has awarded $147,456 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Dallas, TX PURPOSE: GENERAL SUPPORT | $70,000 |
Dallas, TX PURPOSE: GENERAL SUPPORT | $52,456 |
Dallas, TX PURPOSE: GENERAL SUPPORT | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Real Estate Council Community Fund has recieved totaling $393,030.
| Awarding Organization | Amount |
|---|---|
Constantin Foundation Inc Dallas, TX PURPOSE: RENOVATIONS TO HISTORIC BUILDING AT 1632 MLK BLVD. IN DALLAS | $250,000 |
Moody Foundation Galveston, TX PURPOSE: BLOCK BY BLOCK - FOREST DISTRICT REVITALIZATION | $125,000 |
Communities Foundation Of Texas Dallas, TX PURPOSE: THIS GRANT IS DESIGNATED FOR GENERAL SUPPORT. | $11,030 |
Dallas Foundation A Tx Nonprofit Corporation Dallas, TX PURPOSE: GENERAL SUPPORT | $6,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Total Community Action Inc New Orleans, LA | $98,605,042 | $21,062,110 |
Community Council Of Greater Dallas Dallas, TX | $4,744,328 | $19,419,389 |
Nueces County Community Action Agency Corpus Christi, TX | $6,907,131 | $19,554,955 |
United Community Action Program Inc Pawnee, OK | $10,772,761 | $18,838,270 |
Lulac Project Amistad El Paso, TX | $13,396,414 | $20,646,890 |
Youth And Family Alliance Austin, TX | $17,411,303 | $18,334,235 |
Community Action Agency Of Ok City & Ok Canadian Counties Inc Okc, OK | $7,076,135 | $17,912,554 |
Economic Opportunities Advancement Corporation Of Planning Region Xi Waco, TX | $7,841,884 | $18,666,042 |
Arkansas Early Learning Inc Jonesboro, AR | $12,519,715 | $17,680,686 |
Big Five Community Services Inc Durant, OK | $12,347,730 | $17,649,703 |
High Plains Christian Ministries Foundation Amarillo, TX | $595,357,596 | $31,544,091 |
Community Services Office Of Hot Springs And Garland County Arkansa Hot Springs, AR | $3,711,408 | $16,980,162 |