Institute of Real Estate Management Irem

“IREM is a membership Organization that has 18,008 members”

“IREM members may elect members and officers of the governing body.”

“Form 990 was prepared by an independent CPA firm and reviewed by the staff. The completed tax returns were provided to the Audit and Investment Committee for review and discussion. The audit committee reports to the Executive Committee, which in turn reports to the governing council as a whole.”

“Members are required at each meeting to state if they are in compliance with their current conflict of interest statement. IREM also has an ethics and appeal board to review any complaints lodged against a member.”

“IREM uses competitive research studies to determine salaries of all staff including CEO. The three elected officers of the board approve the compensation package of the CEO.”

“IREM does not make these items available to the public.”

“The Executive Committee, consisting of twenty members as shown on pages seven and eight of the Form 990, is responsible for the day to day decisions for IREM. They meet four to six times per year with the president presiding over the meetings. The 240 member Governing Council, shown on pages one and six of the Form 990, includes the Executive Committee and meets twice a year approving majors issues such as membership changes, the annual budget and amendments to the bylaws. The Governing Council is provided with quarterly financial, membership and student participation reports.”

“Volunteers include all the governing councilors plus an estimated number of committee members, for a total of 330 volunteer members”

“The Organization has an international membership. Activities do not take place outside of the United States. The number of international members are considered immaterial and therefore no costs have been allocated to international membership.”

“Relationship with the National Association of Realtors (NAR) - IREM shares a common membership with NAR. IREM members must hold a realtor membership prior to becoming an IREM member. IREM's staff members are included in NAR's health insurance, IREM also utilizes NAR legal and legislative services. IREM's relationship with the IREM Foundation - IREM members serve on the IREM Foundation Board of Directors. The Foundation grants scholarships to individuals taking IREM courses.”