Young Real Estate Professionals Inc

Form 990-EZ, Part I, Line 10

“Young Real Estate Professionals Inc (YREP DC) is a professional networking and educational group for commercial real estate professionals in the Washington DC metro area. Part of our mission, asides from professional development, is to provide opportunities for our members to support the local community. For the past 6 years YREP DC has hosted a charity gala to benefit a local DC organization. In 2020, YREP DC continued its partnership with BUILD Metro DC, a registered 501c3, which started in 2019 after the Board of Directors decided to expand YREP DC's impact in DC to a new charitable organization. 2020 YREP DC revenue after expenses was $29,315, which enabled YREP DC to donate $22,500 to BUILD Metro DC. 2020 was not a typical year for YREP DC, as the COVID-19 Pandemic had a material impact on YREP DC's ability to host events and networking activities, include the signature annual charity gala. Even though the gala was cancelled, many of YREP DC's supporters still supported the gala's charitable initiative. YREP DC relies on a group of volunteers as its Board of Directors, who meet on an ad hoc basis to plan its events and networking activities. YREP DC has become a well known and reputable small organization in the real estate community, and its partner-charity gains material benefits, in addition to the the professional networking and development opportunities. YREP DC events are free to attend, with the only exception as the annual gala and a pre-gala fundraising event, where tickets are sold. The majority of YREP DC's excess income is donated to charity. YREP DC's original intent was to donate all of the excess income to charity, but has found that it is critical to retain some capital to help with upfront costs for the next year's event (deposits on the venue, band, entertainment etc.), operations, and other miscellaneous expenses (website hosting, email service, domains, stationary etc.). YREP DC expects to continue its operations along this same path in the future. Free real estate networking, educational opportunities and business development programs for our community will continue. If YREP DC is no longer active, YREP DC has pledged to its partners that any excess cash reserve will be donated directly to charity. The charitable component of YREP DC is increasingly important every year.”