Civic Intelligence

Real Estate Charitable Foundation

990 • Fiscal year 2017 • EIN 43-1912033

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2018

Organization ProfileN/A
1055 Broadway Blvd Suite 130Kansas City, MO 64105

(816) 842-0944

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

29th percentile

0.09x

Higher debt load relative to assets than 29% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

54th percentile

0.36x

Higher debt load relative to revenue than 54% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

9th percentile

-19%

Higher net margin than 9% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

41st percentile

$211,567

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

3rd percentile

-19%

Faster asset growth than 3% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

96th percentile

167%

Faster revenue growth than 96% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets29th percentile

Assets

Down

$45,815,396

Down $11,078,224 (-19%) from 2016

Net Assets

Down

$41,892,488

Down $2,121,007 (-4.8%) from 2016

Liabilities

Down

$3,922,908

Down $8,957,217 (-70%) from 2016

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin9th percentile

Revenue

Up

$10,953,455

Up $6,847,268 (+167%) from 2016

Expenses

Up

$13,074,462

Up $6,566,082 (+101%) from 2016

Net Income

Up

-$2,121,007

Up $281,186 (+12%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0Assets 2010: $19,045,337Liabilities 2010: $3,984,054Net Assets 2010: $15,061,2832010Assets 2011: $18,747,412Liabilities 2011: $3,911,591Net Assets 2011: $14,835,8212011Assets 2012: $48,586,639Liabilities 2012: $33,866,083Net Assets 2012: $14,720,5562012Assets 2013: $68,702,475Liabilities 2013: $59,358,072Net Assets 2013: $9,344,4032013Assets 2014: $65,578,326Liabilities 2014: $26,121,741Net Assets 2014: $39,456,5852014Assets 2015: $60,839,841Liabilities 2015: $14,424,153Net Assets 2015: $46,415,6882015Assets 2016: $56,893,620Liabilities 2016: $12,880,125Net Assets 2016: $44,013,4952016Assets 2017: $45,815,396Liabilities 2017: $3,922,908Net Assets 2017: $41,892,4882017Assets 2018: $55,564,275Liabilities 2018: $1,573,861Net Assets 2018: $53,990,4142018Assets 2019: $42,704,759Liabilities 2019: $1,411,890Net Assets 2019: $41,292,8692019Assets 2020: $43,935,265Liabilities 2020: $1,634,804Net Assets 2020: $42,300,4612020Assets 2021: $49,152,736Liabilities 2021: $1,446,274Net Assets 2021: $47,706,4622021Assets 2022: $40,630,228Liabilities 2022: $1,164,922Net Assets 2022: $39,465,3062022Assets 2023: $37,566,450Liabilities 2023: $936,856Net Assets 2023: $36,629,5942023Assets 2024: $34,300,544Liabilities 2024: $774,234Net Assets 2024: $33,526,3102024

Highlighted filing

2017

Assets$45,815,396
Liabilities$3,922,908
Net Assets$41,892,488
Open 2017 Filing

Operations Trend

Revenue Growth96th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$20M$0-$20MExpenses 2010: $1,151,6482010Expenses 2011: $1,270,6092011Expenses 2012: $1,270,5182012Revenue 2013: $1,654,771Expenses 2013: $6,717,186Net Income 2013: -$5,062,4152013Revenue 2014: $38,081,551Expenses 2014: $7,969,369Net Income 2014: $30,112,1822014Revenue 2015: $11,673,641Expenses 2015: $4,714,538Net Income 2015: $6,959,1032015Revenue 2016: $4,106,187Expenses 2016: $6,508,380Net Income 2016: -$2,402,1932016Revenue 2017: $10,953,455Expenses 2017: $13,074,462Net Income 2017: -$2,121,0072017Revenue 2018: $17,819,104Expenses 2018: $5,726,752Net Income 2018: $12,092,3522018Revenue 2019: $510,263Expenses 2019: $13,207,808Net Income 2019: -$12,697,5452019Revenue 2020: $4,204,580Expenses 2020: $3,196,988Net Income 2020: $1,007,5922020Revenue 2021: $8,046,902Expenses 2021: $2,540,901Net Income 2021: $5,506,0012021Revenue 2022: $308,737Expenses 2022: $8,631,561Net Income 2022: -$8,322,8242022Revenue 2023: -$928,843Expenses 2023: $1,933,127Net Income 2023: -$2,861,9702023Revenue 2024: $294,355Expenses 2024: $3,407,368Net Income 2024: -$3,113,0132024

Highlighted filing

2017

Revenue$10,953,455
Expenses$13,074,462
Net Income-$2,121,007
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2018
Return Version
2017v2.3
Gross Receipts
$11,098,924
Mission and Program Overview

Mission

The real estate charitable foundation was established to promote charitable giving through the acceptance of real estate and other hard-to-value assets for the benefit and in support of the greater kansas city community foundation.

The real estate charitable foundation is a supporting organization of the greater kansas city community foundation, established to facilitate and accept - see schedule o

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$56,567,946$45,180,043▼ $11,387,903
Cash and Non-Interest-Bearing Accounts$325,674$635,334▲ $309,660
Savings and Temporary Cash Investments$0$19▲ $19
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$56,893,620$45,815,396▼ $11,078,224
Other Assets Total$0$0→ $0
Liabilities
Tax Exempt Bond Liabilities$11,406,097$2,580,789▼ $8,825,308
Mortgage Notes Payable Secured by Investment Property$1,443,864$1,332,193▼ $111,671
Accounts Payable and Accrued Expenses$30,164$9,926▼ $20,238
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$12,880,125$3,922,908▼ $8,957,217
Net Assets / Fund Balance
Unrestricted Net Assets$44,013,495$41,892,488▼ $2,121,007
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$44,013,495$41,892,488▼ $2,121,007
Total Liabilities and Net Assets / Fund Balance$56,893,620$45,815,396▼ $11,078,224

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$42,939,429$6,196,590$49,136,020
Equipment$309,254$1,986,745$2,295,999
Land$1,931,360-$1,931,360
Compensation and Service Providers
Top Officer Pay41st percentile

Board Members and Trustees

NameTitle
Jerry ReeceDirector/chairperson
Ted MurrayDirector/vice Chair
Albert W Zimmer IiiDirector
Bob JohnsonDirector
Byron ConstanceDirector
David HarrisonDirector
Faye DavisDirector
G David GaleDirector
Kate HauberDirector
Tim DismondDirector
Whitney E Kerr SrDirector
Katherine GrayExecutive Director
Corey ZieglerSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$9,648,924
Program Service Revenue
$1,344,352
Investment Income
$-43,684
Other Revenue
$3,863
All Other Contributions
$9,648,924
Change in Net Assets
$-2,121,007
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$10,496,820
Other Expenses$2,577,642
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$10,496,820--$10,496,820
Depreciation Depletion$2,134,699--$2,134,699
Interest$252,624--$252,624
Fees for Services Legal$8,072--$8,072
Other Expenses$6,991$56,122-$6,991
Insurance$3,048--$3,048
Fees for Service Investment Mgmnt Fees-$390-$390
Total Functional Expenses$13,017,950$56,512$0$13,074,462
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Community Foundation of Southeast KansasPittsburg, KS501(c)3Community Support$292,134
Community Foundation of Southeast KansasPittsburg, KS501(c)3Community Support$105,244
GkccfKansas City, MO501(c)3Community Support-
The Selwyn SchoolArgyle, TX501(c)3Educational-
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AHealth and Educational Facilities Authority - Mo2012-12-14$52,050,000School project construction

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$52,050,000$1,707,357$49,469,211$584,153

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Corey ziegler and katie gray have a business relationship.”

Form 990, Part VI, Section A, Line 7A

“The greater kansas city community foundation has the right to elect all of the members of the board of directors of real estate charitable foundation.”

Form 990, Part VI, Section A, Line 7B

“The greater kansas city community foundation has the right to elect and remove the board members of real estate charitable foundation.”

Form 990, Part VI, Section B, Line 11B

“An independent accounting firm prepares and reviews the 990. The 990 is then reviewed by the organization's officers and accounting personnel. Any questions or concerns the organization's officers and accounting personnel have are addressed and any corrections or clarifications that need to be made are made. A copy of the 990 is presented to the board of directors for review and approval prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Annually each officer, board member and committee member are asked to review the conflict of interest policy and update their disclosure. This information is available to the board chair and is used to ensure that, should a conflict of interest arise, the board or committee member involved abstains from voting or participating in any decision.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy and financial statements are available upon request. Copies are provided through email within two business days or hard copies are provided within three business days.”

Filing and Contact Details

Filer

Filer Name
Real Estate Charitable Foundation
EIN
43-1912033
In Care Of
% KATIE GRAY
Phone
8168420944
Address
1055 Broadway Blvd Suite 130, Kansas City, MO 64105

Signing Officer

Name
Corey Ziegler
Title
Secretary/treasurer
Phone
8168420944
Signed
2018-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Corey Ziegler
Formed
2004
Legal Domicile
Mo
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
11

Preparer

Firm
Bkd Llp
Address
1201 Walnut Suite 1700, Kansas City, MO 64106-2246
Preparer
Michael J Engle
Phone
8162216300
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

“Continued - donors' charitable gifts of real property.”

Financial Statement Notes

Section D, Part X, Line 2

“Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.”

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IRS990/LocalChaptersInd0false
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MiscellaneousRevenueGrp/ExclusionAmt03863
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt03863
IRS990/MissionDesc0THE REAL ESTATE CHARITABLE FOUNDATION WAS ESTABLISHED TO ACCEPT DONATIONS OF REAL ESTATE AND OTHER COMPLEX ASSETS TO CHARITABLE FUNDS AT THE GREATER KANSAS CITY COMMUNITY FOUNDATION.
IRS990/MoreThan5000KToIndividualsInd0false
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
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IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0ADMINISTRATIVE EXPENSES
IRS990/OtherExpensesGrp/Desc1PROPERTY TAXES
IRS990/OtherExpensesGrp/Desc2PROPERTY AND MAINTENANCE
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IRS990/OtherExpensesGrp/ProgramServicesAmt0114258
IRS990/OtherExpensesGrp/ProgramServicesAmt11438
IRS990/OtherExpensesGrp/ProgramServicesAmt26991
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IRS990/OtherExpensesGrp/TotalAmt26991
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IRS990/OtherRevenueMiscGrp/BusinessCd0531390
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
IRS990/OtherRevenueMiscGrp/ExclusionAmt03863
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt03863
IRS990/OtherRevenueTotalAmt03863
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt00
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0COREY ZIEGLER
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01344352
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01344352
IRS990/ProgSrvcAccomActy2Grp/Desc0THE REAL ESTATE CHARITABLE FOUNDATION PROVIDES THE BUILDING AND INFRASTRUCTURE FOR A CHARTER SCHOOL. THE CHARTER SCHOOL PROVIDES K-12 EDUCATION TO UNDER-SERVED POPULATIONS IN THE METRO KANSAS CITY AREA.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt02399221
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt01327208
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IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02552281
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt03690504
IRS990/PYInvestmentIncomeAmt038980
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt02817876
IRS990/PYOtherRevenueAmt03107
IRS990/PYProgramServiceRevenueAmt01511819
IRS990/PYRevenuesLessExpensesAmt0-2402193
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt06508380
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04106187
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
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Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$45,815,396
Liabilities
$3,922,908
Net assets
$41,892,488
Revenue
$10,953,455
Expenses
$13,074,462
Net income
-$2,121,007
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.3$0.77$33.5$0.29$3.41$3.11
2023Detailed filing. Detailed filing data is available for this year.$37.6$0.94$36.6$0.93$1.93$2.86
2022Detailed filing. Detailed filing data is available for this year.$40.6$1.16$39.5$0.31$8.63$8.32
2021Detailed filing. Detailed filing data is available for this year.$49.2$1.45$47.7$8.05$2.54$5.51
2020Detailed filing. Detailed filing data is available for this year.$43.9$1.63$42.3$4.20$3.20$1.01
2019Detailed filing. Detailed filing data is available for this year.$42.7$1.41$41.3$0.51$13.2$12.7
2018Detailed filing. Detailed filing data is available for this year.$55.6$1.57$54.0$17.8$5.73$12.1
2017Detailed filing. Detailed filing data is available for this year.$45.8$3.92$41.9$11.0$13.1$2.12
2016Detailed filing. Detailed filing data is available for this year.$56.9$12.9$44.0$4.11$6.51$2.40
2015Detailed filing. Detailed filing data is available for this year.$60.8$14.4$46.4$11.7$4.71$6.96
2014Detailed filing. Detailed filing data is available for this year.$65.6$26.1$39.5$38.1$7.97$30.1
2013Detailed filing. Detailed filing data is available for this year.$68.7$59.4$9.34$1.65$6.72$5.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$48.6$33.9$14.7$1.27
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.7$3.91$14.8$1.27
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.0$3.98$15.1$1.15