Civic Intelligence

Trec Special Events Inc.

990 • Fiscal year 2017 • EIN 46-4671936

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 12, 2018

3100 MCKINNON STREET Suite 1150Dallas, TX 75201

(214) 692-3603

Siviq Scores

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

Liabilities / Assets

91st percentile

0.94x

Higher debt load relative to assets than 91% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

52nd percentile

0.11x

Higher debt load relative to revenue than 52% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

43rd percentile

0.9%

Higher net margin than 43% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

95th percentile

$353,342

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 30.1% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

81st percentile

21%

Faster asset growth than 81% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

75th percentile

23%

Faster revenue growth than 75% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$138,357

Up $24,249 (+21%) from 2016

Net Assets

Up

$8,084

Up $10,947 (+382%) from 2016

Liabilities

Up

$130,273

Up $13,302 (+11%) from 2016

Revenue

Up

$1,175,380

Up $217,306 (+23%) from 2016

Expenses

Up

$1,164,433

Up $205,195 (+21%) from 2016

Net Income

Up

$10,947

Up $12,111 (+1040%) from 2016

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0-$500KAssets 2014: $0Liabilities 2014: $850Net Assets 2014: -$8502014Assets 2015: $9Liabilities 2015: $1,708Net Assets 2015: -$1,6992015Assets 2016: $114,108Liabilities 2016: $116,971Net Assets 2016: -$2,8632016Assets 2017: $138,357Liabilities 2017: $130,273Net Assets 2017: $8,0842017Assets 2018: $31,957Liabilities 2018: $24,725Net Assets 2018: $7,2322018Assets 2019: $282,369Liabilities 2019: $257,990Net Assets 2019: $24,3792019Assets 2020: $327,507Liabilities 2020: $526,827Net Assets 2020: -$199,3202020Assets 2021: $458,291Liabilities 2021: $458,291Net Assets 2021: $02021Assets 2022: $669,185Liabilities 2022: $669,185Net Assets 2022: $02022Assets 2023: $18,491Liabilities 2023: $18,491Net Assets 2023: $02023Assets 2024: $18,293Liabilities 2024: $18,293Net Assets 2024: $02024

Highlighted filing

2017

Assets$138,357
Liabilities$130,273
Net Assets$8,084

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2014: $0Expenses 2014: $850Net Income 2014: -$8502014Revenue 2015: $0Expenses 2015: $849Net Income 2015: -$8492015Revenue 2016: $958,074Expenses 2016: $959,238Net Income 2016: -$1,1642016Revenue 2017: $1,175,380Expenses 2017: $1,164,433Net Income 2017: $10,9472017Revenue 2018: $1,026,602Expenses 2018: $1,027,454Net Income 2018: -$8522018Revenue 2019: $1,143,852Expenses 2019: $1,126,705Net Income 2019: $17,1472019Revenue 2020: $200,182Expenses 2020: $423,881Net Income 2020: -$223,6992020Revenue 2021: $1,071,439Expenses 2021: $872,119Net Income 2021: $199,3202021Revenue 2022: $1,051,380Expenses 2022: $1,059,898Net Income 2022: -$8,5182022Revenue 2023: $853,622Expenses 2023: $848,502Net Income 2023: $5,1202023Revenue 2024: $789,873Expenses 2024: $804,444Net Income 2024: -$14,5712024

Highlighted filing

2017

Revenue$1,175,380
Expenses$1,164,433
Net Income$10,947
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 12, 2018
Return Version
2017v2.3
Gross Receipts
$2,140,530
Mission and Program Overview

Mission

To organize, promote, and sponsor charitable events to raise funds exclusively to support and benefit the real estate council foundation. For neighborhood redevelopment, job creation, other economic opportunities, and affordable housing.

To organize, promote, and sponsor charitable events to raise funds exclusively to support and benefit the real estate council foundation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$104,509$102,307▼ $2,202
Prepaid Expenses and Deferred Charges$4,469$21,325▲ $16,856
Accounts Receivable$5,130$14,725▲ $9,595
Savings and Temporary Cash Investments$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
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$114,108$138,357▲ $24,249
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$30,658$111,651▲ $80,993
Deferred Revenue$85,765$18,500▼ $67,265
Accounts Payable and Accrued Expenses$548$122▼ $426
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$116,971$130,273▲ $13,302
Net Assets / Fund Balance
Unrestricted Net Assets$-2,863$8,084▲ $10,947
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$-2,863$8,084▲ $10,947
Total Liabilities and Net Assets / Fund Balance$114,108$138,357▲ $24,249
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Carla BrandtSecretary/Treasurer-$121,193$121,193
Robin MinickDirector-$107,818$107,818
Debby HansonDirector - Term 01/2017$4,687$141$4,828

Board Members and Trustees

NameTitle
Linda McMahonPresident/CEO
Barry J OlsonDirector
Greg KrausDirector
Lucy BillingsleyDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$1,068,816
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$106,564
All Other Contributions
$501
Change in Net Assets
$10,947

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,175,380
Revenue Not Reported on Form 990
$1,283,735
Total Revenue per Audited Statements
$2,459,115
Total Revenue per Form 990
$1,175,380
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$847,284
Total Fundraising Expense$306,766
Salaries, Compensation, and Employee Benefits$164,710
Other Expenses$152,439
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$847,284--$847,284
Other Salaries and Wages--$155,605$155,605
Fees for Services Management--$134,566$134,566
Fees for Services Accounting-$10,308-$10,308
Other Employee Benefits--$5,038$5,038
Other Expenses--$4,569$4,569
Payroll Taxes--$3,927$3,927
Fees for Services Other--$1,382$1,382
Travel--$993$993
Office Expenses--$481$481
Pension Plan Contributions--$140$140
Insurance-$75-$75
Conferences and Meetings--$65$65
Total Functional Expenses$847,284$10,383$306,766$1,164,433

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,448,168
Expenses Not Reported on Form 990$1,283,735
Expenses per Audited Statements$1,164,433
Total Expenses per Form 990$1,164,433
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Real Estate Council FoundationDallas, TX501(c)(3)General Support$847,284
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$1,071,215
Fundraising Direct Expenses$965,150
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fightnight$1,419,633$685,200$41,734$643,466
Giving Gala$606,112$331,350$40,290$291,060
Total Events$2,139,530$1,071,215$965,150$106,065
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

Other Reported Liabilities

LiabilityAmount
Due to Related Parties$111,651
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Trec Special Events Inc
EIN
46-4671936
In Care Of
% CARLA BRANDT
Phone
2146923603
Address
3100 MCKINNON STREET Suite 1150, DALLAS, TX 75201

Signing Officer

Name
Linda Mcmahon
Title
CEO/President
Phone
2146923603
Signed
2018-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Linda Mcmahon
Formed
2014
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
3
Employees
4
Volunteers
166

Preparer

Firm
Grant Thornton Llp
Address
1000 WILSON BLVD STE 1400, ARLINGTON, VA 22209
Preparer
Mary Torretta
Phone
7038477500
Supplemental Narrative

Additional Explanations

Volunteers

Form 990, part i, question 6 trec special events, inc. (trec se) utilizes volunteers to serve on the board of directors; oversee committees; and to assist with all operations. Volunteers assist with all programs and events. Form 990 review form 990, part vi, line 11b a thorough review is performed by the cfo. After all edits have been incorporated in the return, the final copy is provided to the ceo for review and approval.

Conflict of Interest Policy

Form 990, part vi, line 12c trec se follows a conflict of interest policy. The purpose of the conflict of interest policy (the "policy") is to protect the interests of the corporation, when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer, director or committee member of the corporation or might result in a possible excess benefit transaction. The policy is intended to supplement but not replace any applicable state and federal laws governing conflicts of interest applicable to nonprofit and charitable organizations. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the interest and be given the opportunity to disclose all material facts to the directors and members of committees who are considering the proposed transaction or arrangement. After disclosure of the interest and all material facts, and after any discussion with the interested person, the interested person shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining directors or committee members, as the case may be, shall decide if a conflict of interest exists. An interested person may make a presentation at the board or committee meeting, but after the presentation, the interested person shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board or committee shall determine whether the corporation or relevant committee can obtain, with reasonable efforts, a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board or committee shall determine by a majority vote of the disinterested directors or committee members whether the transaction or arrangement is in the corporation's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, the disinterested directors or committee members shall make the decision as to whether to enter into the transaction or arrangement.

Executive Compensation

FORM 990, PART VI, LINES 15A The compensation for Linda McMahon, CEO, is approved by an independent compensation committee. Her compensation is compared to executive compensation by reviewing comparability data of similar organizations. The approval of Linda's compensation is documented in email correspondence among the compensation committee.

Governing Documents

Form 990, part vi, line 19 the financial statements, conflict of interest policy, governing documents and form 990 are made available for public inspection upon request - either in electronic format or a printed version.

Financial Statement Notes

Uncertain Tax Position (asc 740)

Schedule d, part x, line 2 the codification has issued guidance in accounting for uncertainties in income taxes which requires that trec se recognize in its financial statements the financial effects of a tax position, if that position is more likely than not of being sustained upon examination, including resolution of any appeals or litigation processes, based upon the technical merits of the tax position. The requirements also provide guidance on measurement, classification, interest and penalties and disclosure. Tax positions taken related to trec ses tax exempt status, unrelated business activities taxable income and deductibility of expenses and other miscellaneous tax positions have been reviewed, and management is of the opinion that material positions taken would more likely than not be sustained by examination. Accordingly, trec se has not recorded an income tax liability for uncertain tax benefits. For the years ended december 31, 2017 and 2016, there were no interest or penalties recorded or included in the financial statements.

Reconciliation of Revenue Per Afs

Fundraising expenses reclassed to revenue $965,150

Reconciliation of Expenses Per Afs

Fundraising expenses reclassed to revenue $965,150

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IRS990/MissionDesc0TO ORGANIZE, PROMOTE, AND SPONSOR CHARITABLE EVENTS TO RAISE FUNDS EXCLUSIVELY TO SUPPORT AND BENEFIT THE REAL ESTATE COUNCIL FOUNDATION. FOR NEIGHBORHOOD REDEVELOPMENT, JOB CREATION, OTHER ECONOMIC OPPORTUNITIES, AND AFFORDABLE HOUSING.
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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt05038
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IRS990/OtherExpensesGrp/Desc0PROGRAM & EVENT EXPENSES
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IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
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IRS990/OtherRevenueTotalAmt0499
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0155605
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IRS990/PayrollTaxesGrp/TotalAmt03927
IRS990/PensionPlanContributionsGrp/FundraisingAmt0140
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
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IRS990/RelatedEntityInd0true
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IRS990/RentalIncomeOrLossGrp/RealAmt00
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990/RoyaltiesGrp/TotalAmt00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd0false
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IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd0false
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0847284
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0THE REAL ESTATE COUNCIL FOUNDATION
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IRS990ScheduleA/SupportingOrgType1Ind0X
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTIES
IRS990ScheduleD/OtherRevenueAmt0965150
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IRS990ScheduleD/RevenueSubtotalAmt01175380
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SCHEDULE D, PART X, LINE 2 THE CODIFICATION HAS ISSUED GUIDANCE IN ACCOUNTING FOR UNCERTAINTIES IN INCOME TAXES WHICH REQUIRES THAT TREC SE RECOGNIZE IN ITS FINANCIAL STATEMENTS THE FINANCIAL EFFECTS OF A TAX POSITION, IF THAT POSITION IS MORE LIKELY THAN NOT OF BEING SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTION OF ANY APPEALS OR LITIGATION PROCESSES, BASED UPON THE TECHNICAL MERITS OF THE TAX POSITION. THE REQUIREMENTS ALSO PROVIDE GUIDANCE ON MEASUREMENT, CLASSIFICATION, INTEREST AND PENALTIES AND DISCLOSURE. TAX POSITIONS TAKEN RELATED TO TREC SES TAX EXEMPT STATUS, UNRELATED BUSINESS ACTIVITIES TAXABLE INCOME AND DEDUCTIBILITY OF EXPENSES AND OTHER MISCELLANEOUS TAX POSITIONS HAVE BEEN REVIEWED, AND MANAGEMENT IS OF THE OPINION THAT MATERIAL POSITIONS TAKEN WOULD MORE LIKELY THAN NOT BE SUSTAINED BY EXAMINATION. ACCORDINGLY, TREC SE HAS NOT RECORDED AN INCOME TAX LIABILITY FOR UNCERTAIN TAX BENEFITS. FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016, THERE WERE NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSES RECLASSED TO REVENUE $965,150
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING EXPENSES RECLASSED TO REVENUE $965,150
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0UNCERTAIN TAX POSITION (ASC 740)
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1RECONCILIATION OF REVENUE PER AFS
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2RECONCILIATION OF EXPENSES PER AFS
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IRS990ScheduleD/TotalLiabilityAmt0111651
IRS990ScheduleD/TotalRevenuePerForm990Amt01175380
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02459115
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02448168
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0FIGHTNIGHT
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IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesEvent1Amt02364
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesEvent2Amt062

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