Civic Intelligence

Reem Summit Nfp

990 • Fiscal year 2023 • EIN 46-5727187

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

Organization Profilewww.reemsummit.com
30 N LaSalle St Suite 4140Chicago, IL 60602

(312) 448-7830

Siviq Scores

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

Liabilities / Assets

95th percentile

0.76x

Higher debt load relative to assets than 95% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

97th percentile

0.85x

Higher debt load relative to revenue than 97% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Net Margin

70th percentile

11%

Higher net margin than 70% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Top Officer Pay

73rd percentile

$0

Higher top officer pay than 73% of similar nonprofits.

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

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Asset Growth

96th percentile

100%

Faster asset growth than 96% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$245,532

Up $122,483 (+100%) from 2022

Net Assets

Up

$57,707

Up $24,519 (+74%) from 2022

Liabilities

Up

$187,825

Up $97,964 (+109%) from 2022

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin70th percentile

Revenue

Up

$220,153

Up $220,153 from 2022

Expenses

Up

$195,634

Up $195,634 from 2022

Net Income

Up

$24,519

Up $24,519 from 2022

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$300K$200K$100K$0Assets 2016: $54,740Liabilities 2016: $0Net Assets 2016: $54,7402016Assets 2017: $107,242Liabilities 2017: $0Net Assets 2017: $107,2422017Assets 2019: $278,576Liabilities 2019: $194,278Net Assets 2019: $84,2982019Assets 2021: $123,049Liabilities 2021: $89,861Net Assets 2021: $33,1882021Assets 2022: $123,049Liabilities 2022: $89,861Net Assets 2022: $33,1882022Assets 2023: $245,532Liabilities 2023: $187,825Net Assets 2023: $57,7072023Assets 2024: $92,168Liabilities 2024: $34,461Net Assets 2024: $57,7072024

Highlighted filing

2023

Assets$245,532
Liabilities$187,825
Net Assets$57,707
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$300K$200K$100K$0-$100KRevenue 2016: $139,746Expenses 2016: $116,261Net Income 2016: $23,4852016Revenue 2017: $152,901Expenses 2017: $100,399Net Income 2017: $52,5022017Revenue 2019: $137,266Expenses 2019: $124,891Net Income 2019: $12,3752019Revenue 2021: $122,889Expenses 2021: $174,214Net Income 2021: -$51,3252021Revenue 2022: $0Expenses 2022: $0Net Income 2022: $02022Revenue 2023: $220,153Expenses 2023: $195,634Net Income 2023: $24,5192023Revenue 2024: $0Expenses 2024: $0Net Income 2024: $02024

Highlighted filing

2023

Revenue$220,153
Expenses$195,634
Net Income$24,519
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.1
Gross Receipts
$220,153
Mission and Program Overview

Mission

Professional organization to educate about real estate emerging managers. Holds a conference every other year in texas.

Education for real estate emerging managagers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$67,649$245,532▲ $177,883
Rtn Earn Endowment Incm Other Fnds$33,188$57,707▲ $24,519
Savings and Temporary Cash Investments$0$0→ $0
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
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$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$123,049$245,532▲ $122,483
Other Assets Total$55,400$0▼ $55,400
Liabilities
Other Liabilities$89,861$187,825▲ $97,964
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$89,861$187,825▲ $97,964
Net Assets / Fund Balance
Total Net Assets Fund Balance$33,188$57,707▲ $24,519
Total Liabilities and Net Assets / Fund Balance$123,049$245,532▲ $122,483
Compensation and Service Providers
Top Officer Pay73rd percentile

Board Members and Trustees

NameTitle
Larissa HerczegPresident
Shane BoyleChief Accounting Officer
Krista KerrSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$220,153
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$24,519
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$195,634
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
Conferences and Meetings---$135,216
Fees for Services Other---$46,740
Other Expenses---$13,678
Total Functional Expenses$0$0$0$195,634
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
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 Future Reem Summit$187,825
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“The 990 is reviewed by the chief accounting officer before filing with the IRS.”

Form 990, Part VI, Section C, Line 19

“Documents available upon request.”

Filing and Contact Details

Filer

Filer Name
REEM Summit NFP
EIN
46-5727187
In Care Of
% 1 SEED PARTNERS
Phone
3124487830
Address
30 N LaSalle St Suite 4140, Chicago, IL 60602

Signing Officer

Name
Shane Boyle
Title
Officer
Phone
3124488087
Signed
2024-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Larissa Herczeg
Formed
2016
Legal Domicile
Il
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Bdo USA
Address
330 N Wabash Suite 3200, CHICAGO, IL 60611
Preparer
Kelly Raquet
Phone
3128569100
Supplemental Narrative

Additional Explanations

Form 990 Part IX Line 11G

“Description:professional fees total fees:46740”

Raw XML Appendix333 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Shane Boyle
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Officer
ReturnHeader/BusinessOfficerGrp/PhoneNum03124488087
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0REEM Summit NFP
ReturnHeader/Filer/BusinessNameControlTxt0REEM
ReturnHeader/Filer/EIN0465727187
ReturnHeader/Filer/InCareOfNm0% 1 SEED PARTNERS
ReturnHeader/Filer/PhoneNum03124487830
ReturnHeader/Filer/USAddress/AddressLine1Txt030 N LaSalle St Suite 4140
ReturnHeader/Filer/USAddress/CityNm0Chicago
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060602
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BDO USA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0330 N Wabash Suite 3200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHICAGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060611
ReturnHeader/PreparerPersonGrp/PhoneNum03128569100
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Kelly Raquet
ReturnHeader/ReturnTs02024-11-14T07:21:41-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$245,532
Liabilities
$187,825
Net assets
$57,707
Revenue
$220,153
Expenses
$195,634
Net income
$24,519
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.92$0.34$0.58$0.00$0.00$0.00
2023Detailed filing. Detailed filing data is available for this year.$2.46$1.88$0.58$2.20$1.96$0.25
2022Detailed filing. Detailed filing data is available for this year.$1.23$0.90$0.33$0.00$0.00$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.23$0.90$0.33$1.23$1.74$0.51
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.79$1.94$0.84$1.37$1.25$0.12
2017Detailed filing. Detailed filing data is available for this year.$1.07$0.00$1.07$1.53$1.00$0.53
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.55$0.00$0.55$1.40$1.16$0.23