The Real Estate Council Foundation

“A thorough review is performed by the cfo. After all edits have been incorporated in the return, the final copy is provided to the president/ceo for review and approval.”

“Trecf follows a conflict of interest policy. The purpose of this conflict of interest policy (the "policy") is to protect the interests of the foundation, 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 foundation 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 foundation or relevant committee 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 board or committee shall determine by a majority vote of the disinterested directors or committee members whether the transaction or arrangement is in the foundation'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.”

“The compensation for linda mcmahon, ceo, is approved by an independent compensation committee from a related organization. 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.”

“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.”

“The executive committee reviewed and approved the financial statements.”

“The real estate council foundation (trecf) utilizes volunteers to serve on the board of directors and to oversee committees. Volunteers also assist with projects and programs as well as fundraising activities. In addition to direct service to trecf, the foundation deploys volunteers to other nonprofit agencies to lend their pro-bono professional expertise. Volunteers also provide oversight and guidance for numerous real estate projects, throughout the city of dallas to service low-income neighborhoods and citizens.”

“The entity merged into, and transferred its assets to, trec community investors (fka the real estate council community fund), a related 501(c)(3) entity.”

“Distribution of net assets upon dissolution and merger -2,239,175.”