Residential Real Estate Council
- Assets
- $23.2m
- Revenue
- $7.8m
- Investments
- $0.0
- Employees
- 35
- Location
- Chicago, IL
- Founding
- 01/2004
- Data as of
- 12/2023
- EIN
- 36-4470215
Organization Overview
Residential Real Estate Council is located in Chicago, IL. The organization was established in 2004. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Residential Real Estate Council employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Residential Real Estate Council is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Residential Real Estate Council generated $7.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $9.0m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE RESIDENTIAL REAL ESTATE COUNCIL (RRC) IS COMMITTED TO THE SUCCESS OF ITS MEMBERS THROUGH EDUCATION, LEADERSHIP DEVELOPMENT, REFERRALS, NETWORKING OPPORTUNITIES, AND BUSINESS RESOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RRC PROVIDES APPROXIMATELY 25,000 MEMBERS WITH MANY BENEFITS INCLUDING THE CRS DESIGNATION, WHICH IS THE HIGHEST PROFESSIONAL DESIGNATION AWARDED TO REALTORS IN THE RESIDENTIAL SALES FIELD. THE DESIGNATION IS ACHIEVED BY BOTH EXPERIENCE AND EDUCATIONAL COURSES OFFERED OR APPROVED BY RRC. OTHER MEMBER BENEFITS INCLUDE ACCESS TO AND INCLUSION IN THE RRC MEMBERSHIP REFERRAL DIRECTORY INCLUDING ACCESS AND A PROFILE LISTING ON CRS.COM, THE ORGANIZATION'S WEBSITE, WHERE MEMBERS SHARE IDEAS AND FIND SOLUTIONS.ADDITIONALLY, THE RESIDENTIAL SPECIALIST MAGAZINE HELPS MEMBERS STAY ON TOP OF THE PROFESSION BY PROVIDING NEWS AND INDUSTRY TRENDS, AS WELL AS FEATURES ABOUT THE LATEST TECHNOLOGY TOOLS, MARKETING STRATEGIES AND BUSINESS BUILDING IDEAS. RRC CONDUCTS THREE MAJOR MEETINGS (SELL-A-BRATION, MIDYEAR MEETING, ANNUAL REALTORS CONFERENCE, AND EXPO) TO PROVIDE MEMBERS WITH NETWORKING OPPORTUNITIES, EDUCATIONAL WORKSHOPS, AND INDUSTRY INFORMATION.
RRC DEVELOPS, APPROVES AND SUPPORTS EDUCATIONAL OFFERINGS THAT TEACH REAL ESTATE BEST PRACTICES TO RESIDENTIAL REAL ESTATE AGENTS, INCREASING THEIR PRODUCTIVITY, AND ULTIMATELY IMPROVING THE QUALITY OF SERVICE TO HOME BUYERS AND SELLERS. ALL EDUCATIONAL OFFERINGS EARN CRS DESIGNATION CREDIT. IN 2023, RRC HOSTED 130 CLASSES WITH 4,572 REAL ESTATE AGENTS ATTENDING. ADDITIONALLY, WE HOSTED 69 WEBINARS THROUGHOUT THE YEAR, 12 WERE COMPLIMENTARY TO MEMBERS. 3,232 E-LEARNING COURSES WERE PURCHASED, AND A TOTAL OF 3,856 CERTIFICATIONS AND CERTIFICATES WERE PURCHASED. 60% OF THESE CERTIFICATES WERE PURCHASED WITH ASYNCHRONOUS LEARNING FORMAT, AND THE OTHER 40% IN A SYNCHRONOUS FORMAT.
RRC PARTNERS WITH INDUSTRY LEADERS TO BRING BEST IN CLASS PRODUCTS, SERVICES, AND TOOLS TO ITS' MEMBERS. THESE PRODUCTS, SERVICES AND TOOLS ARE SELECTED TO HELP RRC MEMBERS AND STUDENTS INCREASE THEIR SALES, IMPROVE THEIR QUALITY OF SERVICE TO HOME BUYERS AND SELLERS, GAIN AN EDGE OVER THE COMPETITION, AND FURTHER PROMOTE THE CRS DESIGNATION AND RRC EDUCATION AND CERTIFICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tricia Nekota President Starting 3/29/23 | OfficerTrustee | 3.5 | $40,000 |
Vivian Macias First Vice President | OfficerTrustee | 3.5 | $0 |
Holli Woodward Immediate Past President | OfficerTrustee | 3.5 | $0 |
Debra Beagle At-Large Director | Trustee | 0.5 | $0 |
Addie Owens At-Large Director | Trustee | 0.5 | $0 |
Kurt Thompson At-Large Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sieena Inc It Services | 12/30/23 | $563,753 |
Glc Custom Media Creative Services | 12/30/23 | $433,677 |
Intellicor Llc Printing | 12/30/23 | $239,259 |
Atlanta Marriott Marquis Hospitality | 12/30/23 | $199,311 |
Ags Print & Marketing Communications Rr Printing | 12/30/23 | $178,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $6,939,049 |
| Investment income | $424,127 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $22,134 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $413,389 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,807,626 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $753,844 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,207,029 |
| Pension plan accruals and contributions | $99,148 |
| Other employee benefits | $317,075 |
| Payroll taxes | $207,353 |
| Fees for services: Management | $38,149 |
| Fees for services: Legal | $196,409 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $114,364 |
| Fees for services: Other | $708,936 |
| Advertising and promotion | $155,113 |
| Office expenses | $790,253 |
| Information technology | $641,083 |
| Royalties | $0 |
| Occupancy | $644,541 |
| Travel | $690,854 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $732,514 |
| Interest | $122,482 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $195,739 |
| Insurance | $0 |
| All other expenses | $54,525 |
| Total functional expenses | $8,999,415 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,804,469 |
| Savings and temporary cash investments | $427,032 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $171,408 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $307,585 |
| Net Land, buildings, and equipment | $1,561,839 |
| Investments—publicly traded securities | $17,854,929 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,063,510 |
| Total assets | $23,190,772 |
| Accounts payable and accrued expenses | $646,149 |
| Grants payable | $0 |
| Deferred revenue | $3,292,892 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,609,907 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,640,753 |
| Total liabilities | $8,189,701 |
| Net assets without donor restrictions | $15,001,071 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $23,190,772 |