The Real Estate Council Inc

“Form 990, Part VI, Question 11b A thorough review is performed by the Finance Director. After all edits have been incorporated in the return, the final return is forwarded to all 2013-Voting Members or TREC for review.”

“Form 990, Part VI, Question 19 The financial statements, conflict of interest policy, and Form 990 are made available for public inspection upon request - either in electronic format or a printed version.”

“PART I, Question 6 TREC UTILIZES VOLUNTEERS TO SERVE ON THE BOARD OF DIRECTORS; TO OVERSEE COMMITTEES; AND TO ASSIST WITH ALL OPERATIONS OF THE TRADE ASSOCIATION. VOLUNTEERS ASSIST WITH ALL PROGRAMS AND EVENTS.”

“Part v, line 2 the organization utilized a pay service that completes the w-3.”

“Part vi, line 1 the chairman, vice-chairman, secretary, treasurer, and the immediate past-chairman, president (non-voting), and any other directors so designated by the chairman shall constitute the executive committee. The executive committee may hold meetings at such time and place as the executive committee or chairman shall determine. The chairman shall preside at all meetings of the executive committee. In his or her absence, the vice chairman shall preside at such meetings. The executive committee shall have and may exercise all of the powers granted to the board of directors of a texas non-profit corporation. For the avoidance of doubt, any powers to act granted to the board under the tboc and other applicatble law shall be vested in the executive committee unless the executive committee expressly delegates such powers to the board pursuant to a resolution adopted by a majority of the executive committee.”

“Part vi, line 12c the purpose of this conflict of interest policy is to protect the corporation's interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or director of the corporation or might result in a possible excess benefit transaction. This 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 with governing board delegated powers 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 governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members, as the case may be, shall decide if a conflict of interest exists. Any interested person may make a presentation at the governing board or committee meeting, but after the presentation, that 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 governing 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 governing board or committee shall determine whether the corporation can obtain with reasonable efforts a more advantageous transaction or arrangment 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 governing board or committee shall determine by a majority vote of the disinterested directors 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 it shall make its decision as to whether to enter into the transaction or arrangement.”

“Part VI, Line 15A & 15B CEO AND OTHER OFFICERS AND KEY EMPLOYEE'S COMPENSATION IS DETERMINED BY A COMPENSATION COMMITTEE THAT DETERMINES THE SALARY AND BONUS STRUCTURE. THIS IS REVIEWED ANNUALLY BY THE COMPENSATION COMMITTEE.”