Residential Real Estate Council

“The board of directors shall consist of the president, president elect, first vice president, immediate past president, four at-large members, and an elected outside member. At-large board of directors shall be elected by membership and shall serve a two (2) year term. The membership vote will be held annually in may with the votes to be cast electronically. The open positions for the at-large board of directors will be filled by the candidates receiving the most votes. All ties will be broken by lot. The board of directors shall elect one outside board of director every other year to serve a two (2) year term. The elections are subject to review and approval as to regularity by the board of directors. The term shall begin on the first day of the calendar year following the meeting or vote at which the director was elected and end on the last day of the calendar year or until the position is filled. The rrc representative on nar's executive committee serves as an ex-officio, voting member. In addition, the chief executive officer serves as an ex-officio, non-voting member. With the exception of the chief executive officer, employees of the organization may not serve as members on the board of directors.”

“The form 990 is reviewed and approved by the entire board of directors and the ceo before it is filed with the irs. The return is signed by the ceo.”

“Annually, the organization's officers and governing board (interested persons) are required to complete a conflict of interest questionnaire to determine if any potential or actual conflicts of interest exist with the organization. As outlined in the policy, interested persons are required to disclose any potential conflicts of interest or if he or she may stand to directly or indirectly benefit from a transaction completed or decision made by the organization. Completed questionnaires are reviewed by the organization to determine if an actual conflict exists. If it is determined an actual conflict exists, the person with a conflict is required to refrain from voting or otherwise influence the decision on a matter or transaction for which a conflict exists. Minutes of appropriate meetings shall reflect that such disclosure was made and that such person removed him or herself from the discussion or pros and cons and the vote on the matter with a conflict.”

“The compensation of the ceo is determined by a four member personnel practices committee, which includes the president and president-elect of the board, using comparability data from other similar organizations. Each year there is a performance evaluation which includes a discussion of the upcoming year's goals and objectives (determined by the ceo and the evaluation team) and any changes in pay (including bonuses and merit increases). The ceo does not take part in any discussion or voting regarding their own compensation. At the completion of the formal evaluation, the evaluation document is signed, dated, and given to the chief financial officer as authorization and documentation to process the appropriate paperwork. The latest ceo review took place in november 2024. Other key employees are evaluated by their supervisors under rrc's employee performance evaluation program. Compensation for all other employees is determined by the ceo.”

“Governing documents and the conflict of interest policy are made available upon request. Financial statements are made available on a case by case basis as appropriate.”

“Rrc's members do not possess the kinds of rights outlined in part vi, line 6 of the 990 instructions. As such, the organization has checked "no" to the questions on lines 6- 7b.”

“Other 46,307. Speaker fees 271,387. Contractors 23,592. Consultants 648,558.”

“The organization's financial statements are issued on a consolidated basis with the national association of realtors. Nar's audit committee assumes responsibility for oversight of the audit of the consolidated financial statements. The organization also had a separate financial statement audit of the organization. The organization's finance committee is responsible for the separate audit.”