Counselors of Real Estate

“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.”

“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.”

“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.”

“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.”

“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.”

“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 2024 tax year was reviewed and approved in april, 2024. Other than the ceo, the company does not compensate any other officers or key employees.”

“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.”

“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.”