Civic Intelligence

Defined Contribution Real Estate Council Inc

990 • Fiscal year 2023 • EIN 46-0721413

Jan 01, 2023 to Dec 31, 2023 • Filed on Jan 19, 2024

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

65th percentile

0.01x

Higher debt load relative to assets than 65% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Source year 2023

Liabilities / Revenue

69th percentile

0.02x

Higher debt load relative to revenue than 69% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Source year 2023

Net Margin

16th percentile

-24%

Higher net margin than 16% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Source year 2023

Top Officer Pay

82nd percentile

$0

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • NTEE S • <$500k nonprofits • Source year 2023

Asset Growth

28th percentile

-13%

Faster asset growth than 28% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

31st percentile

-12%

Faster revenue growth than 31% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets65th percentile

Assets

Down

$490,111

Down $70,280 (-13%) from 2022

Net Assets

Down

$483,141

Down $69,441 (-13%) from 2022

Liabilities

Down

$6,970

Down $839 (-11%) from 2022

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin16th percentile

Revenue

Down

$294,448

Down $38,787 (-12%) from 2022

Expenses

Down

$363,889

Down $37,731 (-9.4%) from 2022

Net Income

Down

-$69,441

Down $1,056 (-1.5%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth28th 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

2023

Assets$490,111
Liabilities$6,970
Net Assets$483,141
Open 2023 Filing

Operations Trend

Revenue Growth31st 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

2023

Revenue$294,448
Expenses$363,889
Net Income-$69,441
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jan 19, 2024
Return Version
2023v4.0
Gross Receipts
$294,448
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, advocacy for, and best practices of, such investments.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$560,391$490,111▼ $70,280
Total Assets$560,391$490,111▼ $70,280
Liabilities
Accounts Payable and Accrued Expenses$7,809$6,970▼ $839
Total Liabilities$7,809$6,970▼ $839
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$552,582$483,141▼ $69,441
Total Net Assets Fund Balance$552,582$483,141▼ $69,441
Total Liabilities and Net Assets / Fund Balance$560,391$490,111▼ $70,280
Compensation and Service Providers
Top Officer Pay82nd percentile

Board Members and Trustees

NameTitle
Greg JenkinsCo-president
Jani VenterCo-president
Adam RuggieroDirector
Ben KanneDirector
Carlin CalcaterraDirector
Chris DonaghyDirector
Daniel CahillDirector
David MakowiczDirector
Diane SmolaDirector
Jay StruzzieryDirector
Jessica HobbsDirector
Joe SzalayDirector
Josh SamilowDirector
Kara FoleyDirector
Kate DavisDirector
Kevin DalrympleDirector
Kurt WaltenDirector
Leon VolchyokDirector
MICHAEL O'CONNORDirector
Mark EarleyDirector
Michelle ReuterDirector
Peter PalandjianDirector
Robert BransfieldDirector
Sara SheanDirector
Shawn LeseDirector
Tracey LukeDirector
Erin ChoCo-secretary
Kevin WalshCo-secretary
Brandon MillenCo-treasurer
Matthew GilbertCo-treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$270,000
Program Service Revenue
$0
Investment Income
$24,448
Other Revenue
$0
Change in Net Assets
$-69,441
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$363,889
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$253,339--$253,339
Conferences and Meetings$39,109--$39,109
Advertising$24,050--$24,050
Fees for Services Other$21,174--$21,174
Travel$9,427--$9,427
Fees for Services Accounting-$4,900-$4,900
Information Technology-$3,470-$3,470
Insurance-$3,123-$3,123
Other Expenses-$2,500-$2,500
Total Functional Expenses$347,099$16,790$0$363,889
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
Greg Jenkins
Title
Co-president
Phone
2014457007
Signed
2024-01-19

Organization Details

Principal Officer
Greg Jenkins
Voting Board Members
30
Independent Board Members
30
Employees
0

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/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22CO-PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25CO-SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt26CO-TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt27CO-PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt28CO-TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt29CO-SECRETARY
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IRS990/GrossReceiptsAmt0294448
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IRS990/IndependentVotingMemberCnt030
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IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt03470
IRS990/InformationTechnologyGrp/TotalAmt03470
IRS990/InsuranceGrp/ManagementAndGeneralAmt03123
IRS990/InsuranceGrp/TotalAmt03123
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
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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.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/OtherExpensesGrp/TotalAmt12500
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0GREG JENKINS
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IRS990/RelatedEntityInd0false
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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
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IRS990/SubjectToProxyTaxInd0true
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0347099
IRS990/TotalFunctionalExpensesGrp/TotalAmt0363889
IRS990/TotalGrossUBIAmt00
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IRS990/TravelGrp/ProgramServicesAmt09427
IRS990/TravelGrp/TotalAmt09427
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/PersonNm0GREG JENKINS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CO-PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02014457007
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-01-19
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
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0273088059
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CURRAN & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt059 LINCOLN PARK STE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEWARK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007102
ReturnHeader/PreparerPersonGrp/PhoneNum08622797252
ReturnHeader/PreparerPersonGrp/PreparationDt02024-02-11

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$490,111
Liabilities
$6,970
Net assets
$483,141
Revenue
$294,448
Expenses
$363,889
Net income
-$69,441
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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2023 filings • NTEE S03 • <$500k nonprofits