Civic Intelligence

Defined Contribution Real Estate Council Inc

990 • Fiscal year 2022 • EIN 46-0721413

Jan 01, 2022 to Dec 31, 2022 • Filed on Apr 28, 2023

Organization ProfileWWW.DCREC.ORG
80 State StreetAlbany, NY 12207

(201) 445-7007

Siviq Scores

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

Liabilities / Assets

37th percentile

0.01x

Higher debt load relative to assets than 37% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

40th percentile

0.02x

Higher debt load relative to revenue than 40% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2022

Net Margin

9th percentile

-21%

Higher net margin than 9% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2022

Asset Growth

22nd percentile

-10%

Faster asset growth than 22% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

42nd percentile

5.7%

Faster revenue growth than 42% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets37th percentile

Assets

Down

$560,391

Down $62,765 (-10%) from 2021

Net Assets

Down

$552,582

Down $68,385 (-11%) from 2021

Liabilities

Up

$7,809

Up $5,620 (+257%) from 2021

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin9th percentile

Revenue

Up

$333,235

Up $17,984 (+5.7%) from 2021

Expenses

Up

$401,620

Up $100,190 (+33%) from 2021

Net Income

Down

-$68,385

Down $82,206 (-595%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$800K$600K$400K$200K$0Assets 2013: $185,605Liabilities 2013: $4,190Net Assets 2013: $181,4152013Assets 2014: $266,056Liabilities 2014: $18,552Net Assets 2014: $247,5042014Assets 2015: $348,655Liabilities 2015: $1,258Net Assets 2015: $347,3972015Assets 2016: $370,792Liabilities 2016: $1,037Net Assets 2016: $369,7552016Assets 2017: $422,011Liabilities 2017: $3,858Net Assets 2017: $418,1532017Assets 2018: $502,955Liabilities 2018: $4,183Net Assets 2018: $498,7722018Assets 2019: $571,888Liabilities 2019: $5,944Net Assets 2019: $565,9442019Assets 2020: $607,906Liabilities 2020: $760Net Assets 2020: $607,1462020Assets 2021: $623,156Liabilities 2021: $2,189Net Assets 2021: $620,9672021Assets 2022: $560,391Liabilities 2022: $7,809Net Assets 2022: $552,5822022Assets 2023: $490,111Liabilities 2023: $6,970Net Assets 2023: $483,1412023Assets 2024: $423,331Liabilities 2024: $5,783Net Assets 2024: $417,5482024Assets 2025: $335,193Liabilities 2025: $1,596Net Assets 2025: $333,5972025

Highlighted filing

2022

Assets$560,391
Liabilities$7,809
Net Assets$552,582
Open 2022 Filing

Operations Trend

Revenue Growth42nd percentile

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

$600K$400K$200K$0-$200KRevenue 2013: $205,350Expenses 2013: $91,643Net Income 2013: $113,7072013Revenue 2014: $255,000Expenses 2014: $188,911Net Income 2014: $66,0892014Revenue 2015: $225,000Expenses 2015: $125,107Net Income 2015: $99,8932015Revenue 2016: $255,000Expenses 2016: $232,642Net Income 2016: $22,3582016Revenue 2017: $235,504Expenses 2017: $188,143Net Income 2017: $47,3612017Revenue 2018: $265,388Expenses 2018: $184,769Net Income 2018: $80,6192018Revenue 2019: $335,950Expenses 2019: $268,778Net Income 2019: $67,1722019Revenue 2020: $293,391Expenses 2020: $252,189Net Income 2020: $41,2022020Revenue 2021: $315,251Expenses 2021: $301,430Net Income 2021: $13,8212021Revenue 2022: $333,235Expenses 2022: $401,620Net Income 2022: -$68,3852022Revenue 2023: $294,448Expenses 2023: $363,889Net Income 2023: -$69,4412023Revenue 2024: $271,863Expenses 2024: $336,324Net Income 2024: -$64,4612024Revenue 2025: $244,147Expenses 2025: $328,098Net Income 2025: -$83,9512025

Highlighted filing

2022

Revenue$333,235
Expenses$401,620
Net Income-$68,385
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Apr 28, 2023
Return Version
2022v5.0
Gross Receipts
$333,235
Mission and Program Overview

Mission

The organization has been formed to promote the inclusion of investment in direct commercial real estate and real estate securities within defined contribution plans by furthering education about, advocacy for, and best practices of, such investments.

The organization has been formed to promote the inclusion of investment in direct commercial real estate and real estate securities within defined contribution plans by furthering education, advocacy for, and best practices of, such investments.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$623,156$560,391▼ $62,765
Total Assets$623,156$560,391▼ $62,765
Liabilities
Accounts Payable and Accrued Expenses$2,189$7,809▲ $5,620
Total Liabilities$2,189$7,809▲ $5,620
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$620,967$552,582▼ $68,385
Total Net Assets Fund Balance$620,967$552,582▼ $68,385
Total Liabilities and Net Assets / Fund Balance$623,156$560,391▼ $62,765
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Jani VenterCo-president
Sara SheanCo-president
Adam RuggieroDirector
Alexandra WilliamsDirector
Anne-marie VandenbergDirector
Ben KanneDirector
Bill FosterDirector
Brian LambertDirector
Carlin CalcaterraDirector
Chris DonaghyDirector
David MakowiczDirector
Diane SmolaDirector
Ed RiegerDirector
Jennifer PerkinsDirector
Jessica HobbsDirector
Joe SzalayDirector
Kara FoleyDirector
Kurt WaltenDirector
Leon VolchyokDirector
MICHAEL O'CONNORDirector
Mark EarleyDirector
Peter PalandjianDirector
Robert BransfieldDirector
Robert CollinsDirector
Shawn LeseDirector
Tracey LukeDirector
Erin ChoCo-secretary
Ian MatthewCo-secretary
Jodi FiserCo-treasurer
Tim BollaCo-treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$325,000
Program Service Revenue
$0
Investment Income
$8,235
Other Revenue
$0
Change in Net Assets
$-68,385
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$401,620
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$250,000--$250,000
Advertising$50,475--$50,475
Conferences and Meetings$24,381--$24,381
Fees for Services Other$21,668--$21,668
Information Technology-$18,039-$18,039
Travel$7,772--$7,772
Fees for Services Accounting-$5,400-$5,400
Insurance-$3,008-$3,008
Other Expenses$15,385$175-$175
All Other Expenses-$100-$100
Total Functional Expenses$369,681$31,939$0$401,620
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
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
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“YES”

Form 990, Page 6, Part VI, Line 11B

“Review of 990 and approval by board.”

Form 990, Page 6, Part VI, Line 12C

“ANNUAL BOARD REVIEW.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Defined Contribution
EIN
46-0721413
Phone
2014457007
Address
80 STATE STREET, ALBANY, NY 12207

Signing Officer

Name
Sara Shean
Title
Co-president
Phone
2014457007
Signed
2023-04-28

Organization Details

Principal Officer
Sara Shean
Voting Board Members
30
Independent Board Members
30
Employees
0
Volunteers
30

Preparer

Firm
Curran & Company Llp
Address
59 LINCOLN PARK STE 200, NEWARK, NJ 07102
Preparer
Ryan S Curran CPA Jd
Phone
8622797252
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The organization has been formed to promote the inclusion of investment in direct commercial real estate and real estate securities within defined contribution plans by furthering education, advocacy for, and best practices of, such investments.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24CO-TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt25CO-SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt26CO-TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt27CO-SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt28CO-PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt29CO-PRESIDENT
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IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt030
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0333235
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt030
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt018039
IRS990/InformationTechnologyGrp/TotalAmt018039
IRS990/InsuranceGrp/ManagementAndGeneralAmt03008
IRS990/InsuranceGrp/TotalAmt03008
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt08235
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt08235
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IRS990/IRPDocumentCnt04
IRS990/IRPDocumentW2GCnt00
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembershipDuesAmt0325000
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0THE ORGANIZATION HAS BEEN FORMED TO PROMOTE THE INCLUSION OF INVESTMENT IN DIRECT COMMERCIAL REAL ESTATE AND REAL ESTATE SECURITIES WITHIN DEFINED CONTRIBUTION PLANS BY FURTHERING EDUCATION, ADVOCACY FOR, AND BEST PRACTICES OF, SUCH INVESTMENTS.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0620967
IRS990/NetAssetsOrFundBalancesEOYAmt0552582
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0620967
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0552582
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherExpensesGrp/Desc0BOARD MEALS
IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc2GIFTS
IRS990/OtherExpensesGrp/Desc3BANK FEES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1383
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2175
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IRS990/OtherExpensesGrp/TotalAmt015385
IRS990/OtherExpensesGrp/TotalAmt14834
IRS990/OtherExpensesGrp/TotalAmt2383
IRS990/OtherExpensesGrp/TotalAmt3175
IRS990/PartialLiquidationInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0SARA SHEAN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0315000
IRS990/PYInvestmentIncomeAmt0251
IRS990/PYOtherExpensesAmt0301430
IRS990/PYRevenuesLessExpensesAmt013821
IRS990/PYTotalExpensesAmt0301430
IRS990/PYTotalRevenueAmt0315251
IRS990/ReconcilationRevenueExpnssAmt0-68385
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS BEEN FORMED TO PROMOTE THE INCLUSION OF INVESTMENT IN DIRECT COMMERCIAL REAL ESTATE AND REAL ESTATE SECURITIES WITHIN DEFINED CONTRIBUTION PLANS BY FURTHERING EDUCATION, ADVOCACY FOR, AND BEST PRACTICES OF, SUCH INVESTMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1YES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEW OF 990 AND APPROVAL BY BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUAL BOARD REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0623156
IRS990/TotalAssetsEOYAmt0560391
IRS990/TotalAssetsGrp/BOYAmt0623156
IRS990/TotalAssetsGrp/EOYAmt0560391
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0325000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt031939
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0369681
IRS990/TotalFunctionalExpensesGrp/TotalAmt0401620
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02189
IRS990/TotalLiabilitiesEOYAmt07809
IRS990/TotalLiabilitiesGrp/BOYAmt02189
IRS990/TotalLiabilitiesGrp/EOYAmt07809
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt08235
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0333235
IRS990/TotalVolunteersCnt030
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0623156
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0560391
IRS990/TravelGrp/ProgramServicesAmt07772
IRS990/TravelGrp/TotalAmt07772
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt030
IRS990/VotingMembersIndependentCnt030
IRS990/WebsiteAddressTxt0WWW.DCREC.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0SARA SHEAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CO-PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02014457007
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-04-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DEFINED CONTRIBUTION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0REAL ESTATE COUNCIL INC
ReturnHeader/Filer/BusinessNameControlTxt0DEFI
ReturnHeader/Filer/EIN0460721413
ReturnHeader/Filer/PhoneNum02014457007
ReturnHeader/Filer/USAddress/AddressLine1Txt080 STATE STREET
ReturnHeader/Filer/USAddress/CityNm0ALBANY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd012207
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$560,391
Liabilities
$7,809
Net assets
$552,582
Revenue
$333,235
Expenses
$401,620
Net income
-$68,385
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.35$0.02$3.34$2.44$3.28$0.84
2024Detailed filing. Detailed filing data is available for this year.$4.23$0.06$4.18$2.72$3.36$0.64
2023Detailed filing. Detailed filing data is available for this year.$4.90$0.07$4.83$2.94$3.64$0.69
2022Detailed filing. Detailed filing data is available for this year.$5.60$0.08$5.53$3.33$4.02$0.68
2021Detailed filing. Detailed filing data is available for this year.$6.23$0.02$6.21$3.15$3.01$0.14
2020Detailed filing. Detailed filing data is available for this year.$6.08$0.01$6.07$2.93$2.52$0.41
2019Detailed filing. Detailed filing data is available for this year.$5.72$0.06$5.66$3.36$2.69$0.67
2018Detailed filing. Detailed filing data is available for this year.$5.03$0.04$4.99$2.65$1.85$0.81
2017Detailed filing. Detailed filing data is available for this year.$4.22$0.04$4.18$2.36$1.88$0.47
2016Detailed filing. Detailed filing data is available for this year.$3.71$0.01$3.70$2.55$2.33$0.22
2015Detailed filing. Detailed filing data is available for this year.$3.49$0.01$3.47$2.25$1.25$1.00
2014Detailed filing. Detailed filing data is available for this year.$2.66$0.19$2.48$2.55$1.89$0.66
2013Detailed filing. Detailed filing data is available for this year.$1.86$0.04$1.81$2.05$0.92$1.14