Civic Intelligence

Prea Foundation Inc.

990 • Fiscal year 2022 • EIN 82-1060870

Jan 01, 2022 to Dec 31, 2022 • Filed on May 05, 2023

Organization ProfileWWW.PREA.ORG/FOUNDATION

View Organization Page

100 Pearl Sreet 13th FloorHartford, CT 06103

(860) 692-6341

Siviq Scores

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

Liabilities / Assets

6th percentile

0.00x

Higher debt load relative to assets than 6% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

6th percentile

0.00x

Higher debt load relative to revenue than 6% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

96th percentile

82%

Higher net margin than 96% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

76th percentile

$284,350

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

91st percentile

51%

Faster asset growth than 91% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

97th percentile

260%

Faster revenue growth than 97% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets6th percentile

Assets

Up

$23,190,569

Up $7,845,580 (+51%) from 2021

Net Assets

Up

$23,185,018

Up $7,883,067 (+52%) from 2021

Liabilities

Down

$5,551

Down $37,487 (-87%) from 2021

Revenue And Expenses
Liabilities / Revenue6th percentileNet Margin96th percentile

Revenue

Up

$9,656,557

Up $6,971,945 (+260%) from 2021

Expenses

Up

$1,773,490

Up $241,546 (+16%) from 2021

Net Income

Up

$7,883,067

Up $6,730,399 (+584%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$40M$30M$20M$10M$0Assets 2017: $8,707,414Liabilities 2017: $730,000Net Assets 2017: $7,977,4142017Assets 2018: $10,906,640Liabilities 2018: $119,447Net Assets 2018: $10,787,1932018Assets 2019: $14,559,053Liabilities 2019: $52,984Net Assets 2019: $14,506,0692019Assets 2020: $14,168,741Liabilities 2020: $19,458Net Assets 2020: $14,149,2832020Assets 2021: $15,344,989Liabilities 2021: $43,038Net Assets 2021: $15,301,9512021Assets 2022: $23,190,569Liabilities 2022: $5,551Net Assets 2022: $23,185,0182022Assets 2023: $24,550,282Liabilities 2023: $67,334Net Assets 2023: $24,482,9482023Assets 2024: $35,763,271Liabilities 2024: $79,789Net Assets 2024: $35,683,4822024

Highlighted filing

2022

Assets$23,190,569
Liabilities$5,551
Net Assets$23,185,018
Open 2022 Filing

Operations Trend

Revenue Growth97th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2017: $8,957,439Expenses 2017: $980,025Net Income 2017: $7,977,4142017Revenue 2018: $3,001,414Expenses 2018: $191,635Net Income 2018: $2,809,7792018Revenue 2019: $4,107,208Expenses 2019: $288,332Net Income 2019: $3,818,8762019Revenue 2020: $648,969Expenses 2020: $1,005,755Net Income 2020: -$356,7862020Revenue 2021: $2,684,612Expenses 2021: $1,531,944Net Income 2021: $1,152,6682021Revenue 2022: $9,656,557Expenses 2022: $1,773,490Net Income 2022: $7,883,0672022Revenue 2023: $4,481,458Expenses 2023: $3,288,293Net Income 2023: $1,193,1652023Revenue 2024: $14,098,469Expenses 2024: $3,712,060Net Income 2024: $10,386,4092024

Highlighted filing

2022

Revenue$9,656,557
Expenses$1,773,490
Net Income$7,883,067
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 5, 2023
Return Version
2022v5.0
Gross Receipts
$9,656,557
Mission and Program Overview

Mission

The mission of prea foundation, inc. (the foundation) is to further the interests and values of the institutional real estate investment community by advancing industry-wide diversity and inclusion.

To advance diversity and inclusion in the institutional real estate industry

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$10,529,219$13,838,670▲ $3,309,451
Pledges and Grants Receivable$3,744,343$8,672,877▲ $4,928,534
Cash and Non-Interest-Bearing Accounts$1,065,008$404,601▼ $660,407
Prepaid Expenses and Deferred Charges$6,419$274,421▲ $268,002
Total Assets$15,344,989$23,190,569▲ $7,845,580
Liabilities
Accounts Payable and Accrued Expenses$41,838$5,551▼ $36,287
Other Liabilities$1,200$0▼ $1,200
Total Liabilities$43,038$5,551▼ $37,487
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,557,608$14,512,141▲ $2,954,533
Net Assets With Donor Restrictions$3,744,343$8,672,877▲ $4,928,534
Total Net Assets Fund Balance$15,301,951$23,185,018▲ $7,883,067
Total Liabilities and Net Assets / Fund Balance$15,344,989$23,190,569▲ $7,845,580
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ivan BarronExecutive DirectorFT$258,000$26,350$284,350

Board Members and Trustees

NameTitle
Debbie HarmonChair
Kevin FaxonPresident
Kathleen MccarthyVice President
Chad TredwayDirector
Chris LeeDirector
Christina ScarlatoDirector
David GilbertDirector
Eric LangDirector
Gail HaynesDirector
Jeff FineDirector
John BradyDirector
Jonathan DavisDirector
Lee MillsteinDirector
Linda AssanteDirector
Manny CasangaDirector
Melinda Ellis-eversDirector
Mike DireDirector
Sonny KalsiDirector
Tom LeeDirector
Yvonne NelsonSecretary
Dhvani ShahTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$9,497,106
Program Service Revenue
$0
Investment Income
$159,451
Other Revenue
$0
All Other Contributions
$9,497,106
Change in Net Assets
$7,883,067

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,656,557
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$9,656,557
Total Revenue per Form 990
$9,656,557
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,234,859
Salaries, Compensation, and Employee Benefits$358,207
Other Expenses$180,424
Total Fundraising Expense$131,472
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,234,859--$1,234,859
Current Officers, Directors, Trustees, and Key Employees$105,140$105,140$52,570$262,850
Other Salaries and Wages$7,650$45,900$22,950$76,500
Fees for Services Accounting-$26,965-$26,965
Advertising--$25,339$25,339
Travel$11,911-$11,910$23,821
Payroll Taxes$5,682$8,783$4,392$18,857
Fees for Services Legal-$17,073-$17,073
Information Technology-$8,114-$8,114
Office Expenses$1,728$1,729$1,729$5,186
Insurance-$2,901-$2,901
Other Expenses$23,637$2,264$12,582$2,264
All Other Expenses$1,125--$1,125
Total Functional Expenses$1,391,732$250,286$131,472$1,773,490

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,773,490
Total Expenses per Audited Statements$1,773,490
Total Expenses per Form 990$1,773,490
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Sponsors for Educational Opportunity IncNew York, NY501(c)(3)Prea/seo Real Estate Track Summer 2022 Internship Program$799,800
Basis Impact Group Foundation IncNew York, NY501(c)(3)For the Benefit of the Real Estate Executive Council Summer Intensive Program$220,000
Urban Alliance IncWashington Dc, DC501(c)(3)Real Estate Skills Training for Underserved High School Seniors$200,000
Robert a Toigo FoundationNew York, NY501(c)(3)Educational Program Advancing the Entrance and Ongoing Skill Development of Diverse Mbas Into the Field of Real Estate$15,059
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
CEO compensation reviewed
Yes
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

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The draft federal form 990 is reviewed by the executive director of the foundation and the president of the pension real estate association who also serves on the board of directors of the foundation. Such review takes place upon receipt of the draft form 990, which is prepared by the independent public accounting firm. The review includes the financial information reported and a review of all narrative information for accuracy and completeness prior to filing with the internal revenue service. Further, a complete copy of the form 990 is provided to each member of the board of directors prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Board members are required to file a statement on an annual basis disclosing any potential interest that could give rise to conflicts. Individuals with potential conflicts of interest are prohibited from participating in any deliberations or decision that may be affected by a potential conflict of interest.”

Form 990, Part VI, Section B, Line 15A

“The compensation of the executive director is reviewed and approved by the board of directors.”

Form 990, Part VI, Section C, Line 19

“The foundation's audited financial statements are available to the public via foundations website as well as upon request. The foundation's governing documents and conflict of interest policy are available upon request.”

Filing and Contact Details

Filer

Filer Name
Prea Foundation Inc
EIN
82-1060870
Phone
8606926341
Address
100 PEARL SREET 13TH FLOOR, HARTFORD, CT 06103

Signing Officer

Name
Ivan Barron
Title
Executive Director
Phone
8606926341
Signed
2023-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ivan Barron
Formed
2017
Legal Domicile
Ny
Voting Board Members
21
Independent Board Members
21
Employees
2
Volunteers
29

Preparer

Firm
Leonard Mulherin & Greene Pc
Address
625 GROVE STREET, BRAINTREE, MA 02184
Preparer
Michelle J Amaral
Phone
7813564800
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The organization has an audit committee that assumes responsibility for oversight of the audit and its selection of an independent auditor. There have been no changes in this process since the prior year.”

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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/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21EXECUTIVE DIRECTOR
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IRS990/GrossReceiptsAmt09656557
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IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt08114
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IRS990/InsuranceGrp/ManagementAndGeneralAmt02901
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IRS990/OfficeExpensesGrp/ProgramServicesAmt01728
IRS990/OfficeExpensesGrp/TotalAmt05186
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IRS990/OperateHospitalInd00
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IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherExpensesGrp/Desc1BANK FEES
IRS990/OtherExpensesGrp/Desc2PAYROLL FEES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt013432
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt07650
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IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt04392
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt08783
IRS990/PayrollTaxesGrp/ProgramServicesAmt05682
IRS990/PayrollTaxesGrp/TotalAmt018857
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IRS990ScheduleA/SubstantialContributorsTotAmt02008866
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$23,190,569
Liabilities
$5,551
Net assets
$23,185,018
Revenue
$9,656,557
Expenses
$1,773,490
Net income
$7,883,067
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$35.8$0.08$35.7$14.1$3.71$10.4
2023Detailed filing. Detailed filing data is available for this year.$24.6$0.07$24.5$4.48$3.29$1.19
2022Detailed filing. Detailed filing data is available for this year.$23.2$0.01$23.2$9.66$1.77$7.88
2021Detailed filing. Detailed filing data is available for this year.$15.3$0.04$15.3$2.68$1.53$1.15
2020Detailed filing. Detailed filing data is available for this year.$14.2$0.02$14.1$0.65$1.01$0.36
2019Detailed filing. Detailed filing data is available for this year.$14.6$0.05$14.5$4.11$0.29$3.82
2018Detailed filing. Detailed filing data is available for this year.$10.9$0.12$10.8$3.00$0.19$2.81
2017Summary only. Only limited summary data is available for this year.$8.71$0.73$7.98$8.96$0.98$7.98