2024-11-14T11:39:30-06:00 2023-12-31 991856619 GRANT THORNTON ADVISORS LLC 171 N CLARK ST STE 200 CHICAGO IL 60601 990 2023-01-01 366140410 COUNSELORS OF REAL ESTATE COUN 3123298200 430 N MICHIGAN CHICAGO IL 60611 MARY FLEISCHMANN CEO 3123298200 2024-11-14 1 1 BRIDGET ROCHE P00666837 3128560200 2023 2024-10-15 13:58:12Z MARY FLEISCHMANN 430 N MICHIGAN CHICAGO IL 60611 2603681 0 X WWW.CRE.ORG X 1953 IL THE COUNSELORS OF REAL ESTATE (CRE) WAS ESTABLISHED EXCLUSIVELY FOR REAL ESTATE (SEE SCHEDULE O) ADVISORS WHO PROVIDE INTELLIGENT AND TRUSTED ADVICE FOR A CLIENT OR EMPLOYER. CRE SERVES AS AN INFORMATION RESOURCE FOR ITS MEMBERS. 20 20 9 300 225000 6774 0 0 1886800 1948780 33311 105409 207417 335153 2127528 2389342 0 0 0 0 1483652 1578094 0 0 0 1002679 844640 2486331 2422734 -358803 -33392 2655381 2679348 1062234 928760 1593147 1750588 X CRE WAS ESTABLISHED EXCLUSIVELY FOR REAL ESTATE ADVISORS WHO PROVIDE INTELLIGENT, UNBIASED, AND TRUSTED ADVICE FOR A CLIENT OR EMPLOYER. THE PURPOSE OF THE ORGANIZATION IS TO SERVE AS AN INFORMATION RESOURCE AND TO PROVIDE ITS MEMBERS WITH OPPORTUNITIES FOR (SEE SCHEDULE O) PROFESSIONAL DEVELOPMENT, KNOWLEDGE SHARING, AND NETWORKING, ALL GROUNDED IN A CULTURE OF CAMARADERIE. 0 0 THE COUNSELORS OF REAL ESTATE IS THE MEMBERSHIP ORGANIZATION ESTABLISHED EXCLUSIVELY FOR REAL ESTATE ADVISORS WHO PROVIDE INTELLIGENT, UNBIASED, AND TRUSTED ADVICE FOR A CLIENT OR EMPLOYER. THE ORGANIZATION BESTOWS THE PRESTIGIOUS CRE DESIGNATION ON THOSE INVITED TO MEMBERSHIP, PROVIDING ACCESS TO A HIGH-LEVEL PROFESSIONAL COMMUNITY THAT ELEVATES THEIR EXPERIENCE, WHILE EXPANDING THEIR PROFESSIONAL REACH. THE FALL CONVENTION OFFERS EXTRAORDINARY EDUCATIONAL OPPORTUNITIES, KNOWLEDGE SHARING, AND PROFESSIONAL INTERACTION FEATURING EDUCATIONAL SESSIONS, ROUNDTABLE DISCUSSIONS, BUSINESS MEETINGS AND SPECIAL EVENTS INCLUDING REAL ESTATE DEVELOPMENT TOURS, MINI CRE CONSULTING CORPS ASSIGNMENTS, AND MEETINGS OF THE COUNSELORS' BOARD OF DIRECTORS, FINANCE AND EXECUTIVE COMMITTEES. THE COUNSELORS OF REAL ESTATE OFFERS MULTIPLE COMMUNICATIONS TO BENEFIT ITS MEMBERS AND THE REAL ESTATE COMMUNITY AT LARGE. THE "REAL ESTATE ISSUES" PUBLICATION IS CRE'S PROFESSIONAL JOURNAL FEATURING INCISIVE, DYNAMIC ARTICLES THAT RESPOND TO CURRENT TRENDS IN THE REAL ESTATE INDUSTRY. THE JOURNAL IS PRINTED THREE TIMES A YEAR. THE ASSOCIATION ALSO PRODUCES "THE COUNSELOR" NEWSLETTER WHICH SHOWCASES CRE ACTIVITIES AND INDUSTRY EVENTS, ALONG WITH AN ANNUAL MEMBERSHIP DIRECTORY. 0 0 0 1 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 10 0 1 9 1 1 1 0 0 0 0 0 0 0 X 20 20 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 0 0 X MARY FLEISCHMANN 3123298200 430 N MICHIGAN CHICAGO IL 60611 WILLIAM PJ MCCARTHY CHAIR OF THE BOARD 0.50 0.00 X X 0 0 0 ANTHONY DELLAPELLE FIRST VICE CHAIR 0.50 0.00 X X 0 0 0 JOHN J HENTSCHEL SECOND VICE CHAIR 0.50 0.00 X X 0 0 0 MICHEL COUILLARD PAST CHAIR OF THE BOARD 0.50 0.00 X 0 0 0 JULIE L MELANDER PAST CHAIR OF THE BOARD 0.50 0.00 X 0 0 0 JOSEPH G NAHAS PAST CHAIR OF THE BOARD 0.50 0.00 X 0 0 0 MARILLE A UTTER PAST CHAIR OF THE BOARD 0.50 0.00 X 0 0 0 DEBORAH CLOUTIER LIAISON VICE CHAIR 0.50 0.00 X 0 0 0 STEVEN NORRIS LIAISON VICE CHAIR 0.50 0.00 X 0 0 0 ROBERT J PLISKA LIAISON VICE CHAIR 0.50 0.00 X 0 0 0 JOHN BACZEWSKI MEMBER 0.50 0.00 X 0 0 0 KORIN CRAWFORD MEMBER 0.50 0.00 X 0 0 0 CASSARNDRA FRANCIS MEMBER 0.50 0.00 X 0 0 0 GIULIANO GASPARINI MEMBER 0.50 0.00 X 0 0 0 GRAHAM GRADY MEMBER 0.50 0.00 X 0 0 0 HIROYUKI ISOBE MEMBER 0.50 0.00 X 0 0 0 BRUCE MASSA MEMBER 0.50 0.00 X 0 0 0 KIEYASIEN MOORE MEMBER 0.50 0.00 X 0 0 0 RUCHI PATHELA MEMBER 0.50 0.00 X 0 0 0 HANS VRENSEN MEMBER 0.50 0.00 X 0 0 0 MARY FLEISCHMANN CEO 50.00 0.00 X 293328 0 53180 RICHARD SIROIS DIR. OF MARKETING AND COMMUNICATIONS 38.00 0.00 X 129127 0 36779 SHEA TURNER CHIEF ADMINISTRATIVE OFFICER 38.00 0.00 X 119760 0 35916 LARISA PHILLIPS DIRECTOR OF EDUCATION AND MEETINGS 38.00 0.00 X 111299 0 35012 SAMANTHA DEKOVEN DIRECTOR PUBLIC SERVICE INITIATIVE 38.00 0.00 X 100381 0 33986 753895 0 194873 5 0 1 0 0 MEMBERSHIP DUES 900099 1730030 1730030 CONVENTIONS 900099 205826 205826 STRATEGIC PLANNING REVENUE 900099 10000 10000 EDUCATION COURSES AND MEETINGS 900099 2924 2924 1948780 60808 60808 581 581 258940 214339 44601 44601 44601 CONS. INCOME - CRE CONS. PANELS 541900 225000 225000 SPONSORSHIPS 900099 42725 42725 MISCELLANEOUS REVENUE 900099 41847 41847 25000 25000 334572 2389342 1948780 225000 215562 346508 906072 98600 153345 73569 51569 61532 20280 9318 74453 107657 56926 126638 108596 173755 43111 1328 MAINTENANCE AND REPAIRS 4817 TDR AFFILIATE FEE 1998 CONTINGENCY 257 2405 2422734 390903 154447 97528 134747 63689 43425 15571 20429 623892 563347 75724 60545 2011966 2247170 0 0 0 0 0 18585 2655381 2679348 395668 269059 594357 645721 0 0 72209 13980 1062234 928760 X 1593147 1750588 1593147 1750588 2655381 2679348 -33392 190833 0 X X 0 1 X 0 0 0 0 0 0 1 0 15000 15000 15000 15000 15000 15000 15000 15000 15000 15000 0.00000 1.00000 0.00000 0 1 1 0 322391 322391 0 111438 107796 3642 190063 133160 56903 60545 DUE TO CRE FOUNDATION 13980 13980 X PART V, LINE 4: THE JAMES FELT CREATIVE COUNSELING AWARD IS PRESENTED ONCE A YEAR TO A CRE MEMBER WHO HAS COMPLETED AN ESPECIALLY CREATIVE ASSIGNMENT AND TO HONOR A MEMBER WHO HAS DONE OUTSTANDING COMMITTEE WORK FOR THE COUNSELORS. THE AWARD HAD NOT BEEN UTILIZED IN THE PAST FEW YEARS. PART X, LINE 2: THE ASSOCIATION AND ITS CONSOLIDATED AND COMBINED ENTITIES FOLLOW GUIDANCE ISSUED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") WITH RESPECT TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. A TAX POSITION IS RECOGNIZED ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX EXPENSE OR BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE MORE LIKELY THAN NOT TEST, NO TAX EXPENSE OR BENEFIT IS RECORDED. THE ASSOCIATION RECOGNIZES INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX POSITIONS IN INTEREST AND INCOME TAX EXPENSE, RESPECTIVELY. THE ASSOCIATION HAS NO AMOUNTS ACCRUED FOR INTEREST OR PENALTIES AS OF DECEMBER 31, 2023 AND 2022. DUE TO ITS TAX-EXEMPT STATUS, THE ASSOCIATION IS NOT SUBJECT TO U.S. FEDERAL INCOME TAX OR STATE INCOME TAX. THE ASSOCIATION DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. EUROPE (INCLUDING ICELAND & GREENLAND) 0 1 PROGRAM SERVICES COMPENSATION THAT WAS PAID TO THE EUROPEAN CHAPTER STAFF 25000 0 1 0 0 0 1 25000 0 25000 0 0 0 0 0 0 PART I, LINE 3: METHOD USED TO ACCOUNT FOR EXPENDITURES ON ORG'S FINANCIAL STATEMENTS: EUROPE (INCLUDING ICELAND AND GREENLAND) -ACCRUAL X X X 0 0 0 MARY FLEISCHMANN CEO 292043 0 0 0 1285 0 29204 0 23976 0 346508 0 0 0 RICHARD SIROIS DIR. OF MARKETING AND COMMUNICATIONS 128034 0 0 0 1093 0 12803 0 23976 0 165906 0 0 0 SHEA TURNER CHIEF ADMINISTRATIVE OFFICER 119404 0 0 0 356 0 11940 0 23976 0 155676 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A ARTICLE IX, SECTION 1 OF THE BY-LAWS PROVIDE FOR AN EXECUTIVE COMMITTEE OF THE GOVERNING BODY TO ACT ON BEHALF OF THE GOVERNING BODY BETWEEN MEETINGS. THE EXECUTIVE COMMITTEE IS MADE UP OF 17 MEMBERS, INCLUDING: THE CHAIR OF THE BOARD, THE FIRST VICE CHAIR, SECOND VICE CHAIR, MOST RECENT AND AVAILABLE PAST CHAIR OF THE BOARD, THREE LIAISON VICE CHAIRS SERVING AS NON VOTING MEMBERS, THE PRESIDENT AS A NON VOTING MEMBER, THE CHAIR OF THE EDUCATION COMMITTEE, THE CHAIR OF THE STRATEGIC PLANNING COMMITTEE, THE CHAIR OF THE BUDGET AND FINANCE COMMITTEE, THREE MEMBERS APPOINTED BY THE CHAIR OF THE BOARD, AND THREE MEMBERS ELECTED BY THE BOARD OF DIRECTS FROM ITS MEMBER FOR THREE-YEAR STAGGERED TERMS. THE SCOPE OF THE DUTIES PROVIDED TO THE EXECUTIVE COMMITTEE INCLUDE: INITIATING POLICIES, CONSIDERING ALL MATTERS REFERRED TO IT REQUIRING ACTION OF THE BOARD, AND FINALLY, HAVING THE EMERGENCY POWER TO ACT BETWEEN MEETINGS OF THE BOARD AND REPORT ITS ACTIONS TO THE BOARD. FORM 990, PART VI, SECTION A, LINE 6 THE COUNSELORS SHALL CONSIST OF THREE CLASSES OF MEMBERSHIP: ACTIVE, LIFE, AND EMERITUS COLLECTIVELY REFERRED TO AS "MEMBERS OR "MEMBERS OF THE COUNSELORS". MEMBERSHIP IN THE COUNSELORS IS PERSONAL AND SHALL NOT BE TRANSFERABLE OR ASSIGNABLE. EACH INDIVIDUAL, WHEN REQUESTING AN INVITATION TO MEMBERSHIP, SHALL SIGN A WRITTEN PLEDGE TO UPHOLD THE BYLAWS, CODE OF ETHICS AND STANDARDS OF PROFESSIONAL PRACTICE OF THE COUNSELORS AND SHALL FURTHER SIGN AN IRREVOCABLE WAIVER OF CLAIM AGAINST THE COUNSELORS, OR ANY MEMBER OF ITS BOARD, OFFICERS, COMMITTEE MEMBERS, OR OTHER COUNSELOR OFFICIALS AS INDIVIDUALS OR AS A GROUP, FOR ANY OFFICIAL ACT IN CONNECTION WITH THE BUSINESS OF THE COUNSELORS, AND PARTICULARLY AS TO ITS OR THEIR ACTS IN AWARDING MEMBERSHIP, SUSPENDING, EXPELLING OR OTHERWISE DISCIPLINING THE INDIVIDUAL AS A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A AT EACH MIDYEAR MEETING, THE BOARD SHALL ELECT, FROM THE MEMBERSHIP OF THE COUNSELORS, A CHAIR OF THE BOARD, A FIRST VICE CHAIR, A SECOND VICE CHAIR, AND THREE LIAISON VICE CHAIRS OF EQUAL RANK, TO SERVE TERMS OF ONE YEAR, OR UNTIL THEIR SUCCESSORS ARE ELECTED. THE OFFICERS SHALL ASSUME AND DISCHARGE THEIR RESPECTIVE DUTIES AFTER THE ANNUAL BOARD MEETING. THE ANNUAL MEMBERSHIP MEETING WILL BE HELD IMMEDIATELY FOLLOWING THE ANNUAL BOARD MEETING. MEMBERS OF THE COUNSELORS SHALL BE ENTITLED TO THE PRIVILEGES OF THE FLOOR AND TO PARTICIPATE IN THE DISCUSSIONS. AT THE ANNUAL MEMBERSHIP MEETING, ALL MEMBERS OF THE COUNSELORS SHALL BE ENTITLED TO THE PRIVILEGES OF THE FLOOR, TO PARTICIPATE IN THE DISCUSSIONS, AND TO VOTE. FORM 990, PART VI, SECTION B, LINE 11B THE CRE FORM 990 IS REVIEWED AND DISCUSSED BY TELEPHONE CONFERENCE WITH THE CURRENT CRE BUDGET & FINANCE COMMITTEE, CHARGED BY CRE BYLAWS WITH RESPONSIBILITY FOR THE MANAGEMENT AND REVIEW OF CRE FINANCIAL MATTERS, AND THE EXECUTIVE COMMITTEE BEFORE FILING. BECAUSE OF THE LARGE SIZE OF THE FULL BOARD OF DIRECTORS, WE FEEL A MORE MEANINGFUL, AND HENCE MORE PRODUCTIVE, DISCUSSION WOULD RESULT WITH A SMALLER YET MORE SENIOR SUBGROUP OF THE FULL BOARD OF DIRECTORS. PRIOR TO COMMITTEE REVIEW, THE CRE FORM 990 IS REVIEWED BY AN INDEPENDENT OUTSIDE PUBLIC ACCOUNTING FIRM. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE OFFICERS AND DIRECTORS RECEIVE A COPY OF THE CONFLICT OF INTEREST POLICY, AND MUST AGREE TO FOLLOW THE RULES SET FORTH IN THE POLICY. AN OFFICER OR DIRECTOR MUST RECUSE HIM/HERSELF FROM ANY DELIBERATIONS REGARDING ANY MATTER IN WHICH THEY HAVE A CONFLICT. IN ADDITION TO THE POLICY, ON AN ANNUAL BASIS, EACH OFFICER AND BOARD MEMBER IS ASKED TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE SPECIFICALLY DESIGNED TO ADDRESS POTENTIAL CONFLICTS AS OUTLINED IN THE FORM 990. THESE QUESTIONNAIRES ARE REVIEWED BY THE OFFICE OF THE CEO FOR ANY POTENTIAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE CEO'S COMPENSATION IS DETERMINED BY AN ADVISORY COMMITTEE MADE UP OF MEMBERS OF THE BOARD OF DIRECTORS. COMPARABILITY DATA IS USED BY THIS COMMITTEE TO HELP DETERMINE COMPENSATION. THE COMMITTEE DETERMINES THE BASE SALARY, BONUS, OTHER CASH COMPENSATION AND OTHER BENEFITS OF THE CEO AND APPROVES THE TERMS OF THE EMPLOYMENT AGREEMENT AND ANY AMENDMENT THERETO. THE LAST TIME THIS PROCESS WAS COMPLETED WAS IN 2021 WHEN THE CURRENT CEO'S CONTRACT WAS NEGOTIATED. DELIBERATIONS AND DECISION MAKING WITH RESPECT TO THE CEO'S COMPENSATION ARE DOCUMENTED ON A TIMELY BASIS BY THE ADVISORY COMMITTEE. ON AN ANNUAL BASIS, THE CEO HAS A PERFORMANCE EVALUATION WHICH IS USED IN PART TO DETERMINE ANY CHANGES IN PAY (EX. BONUSES AND MERIT INCREASES). THE CEO COMPENSATION FOR THE 2023 TAX YEAR WAS REVIEWED AND APPROVED IN APRIL, 2023. OTHER THAN THE CEO, THE COMPANY DOES NOT COMPENSATE ANY OTHER OFFICERS OR KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC AS APPROPRIATE ON A CASE BY CASE BASIS. CONFLICT OF INTEREST POLICIES ARE AVAILABLE UPON REQUEST AT ANY TIME. FORM 990, PART XII, LINE 2C FINANCIAL STATEMENTS THE ORGANIZATION'S FINANCIAL STATEMENTS ARE ISSUED ON A CONSOLIDATED BASIS WITH THE NATIONAL ASSOCIATION OF REALTORS. THE NATIONAL ASSOCIATION OF REALTORS' AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE CONSOLIDATED FINANCIAL STATEMENTS. COUNSELORS OF REAL ESTATE FOUNDATION 430 N MICHIGAN CHICAGO IL 60611 366131597 COMMUNITYPROJECTS IL 501(C)(3) LINE 7 CRE 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1