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← REAL ESTATE CHARITABLE FOUNDATION

Form 990 for tax year 2022

Filed by REAL ESTATE CHARITABLE FOUNDATION.

Totals

Total revenue
$308,737
Total expenses
$8,631,561
Contributions and grants received
$0
Grants paid
$6,591,734
Program service revenue
$492,163
Investment income
-$183,426
Other revenue
$0
Total assets, end of year
$40,630,228
Total liabilities, end of year
$1,164,922
Net assets or fund balances, end of year
$39,465,306
Program services expenses (Part IX)
$8,601,928
Management and general expenses
$29,633
Fundraising expenses
$0
Program service expenses (Part III)
$8,601,928

Program services were 99.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: RENTAL INCOME

    total $492,163 · related or exempt $492,163

  • 3 · Investment income

    total $46

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    other assets $6,910,000

  • 7b · Less cost or other basis and sales expenses

    other assets $7,093,472

  • 7c · Gain or loss

    other assets -$183,472

  • 7d · Net gain or loss

    total -$183,472 · excluded -$183,472

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,591,734 · program services $6,591,734

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $27,592 · management and general $27,592

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $120 · management and general $120

  • 11g · Fees: other

    total $210,582 · program services $208,661 · management and general $1,921

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $129,544 · program services $129,544

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $23,319 · program services $23,319

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $1,636,228 · program services $1,636,228

  • 23 · Insurance

    total $12,442 · program services $12,442

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $206,236 · end of year $80

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $3,077

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $53,274,379

  • 10b · Land, buildings and equipment: accumulated depreciation

    $16,655,690

  • 10c · Land, buildings and equipment, net

    beginning of year $45,018,500 · end of year $36,618,689

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $3,928,000 · end of year $4,008,382

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,986 · end of year $1,327

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $1,079,203 · end of year $909,784

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $365,085 · end of year $253,811

  • 27 · Net assets without donor restrictions

    beginning of year $47,706,462 · end of year $39,465,306

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

THE REAL ESTATE CHARITABLE FOUNDATION WAS ESTABLISHED TO ACCEPT DONATIONS OF REAL ESTATE AND OTHER COMPLEX ASSETS TO CHARITABLE FUNDS AT THE GREATER KANSAS CITY COMMUNITY FOUNDATION.

Activities or mission (Part I)

A SUPPORTING ORGANIZATION OF THE GREATER KANSAS CITY COMMUNITY FOUNDATION, ESTABLISHED TO FACILITATE AND ACCEPT DONORS' CHARITABLE GIFTS OF REAL PROPERTY.

  • THE REAL ESTATE CHARITABLE FOUNDATION MAKES IT EASY FOR DONORS TO MAKE CHARITABLE GIFTS OF REAL PROPERTY BY EVALUATING, MARKETING AND SELLING PROPERTY FOR CHARITABLE PURPOSES. SALE PROCEEDS ARE DEPOSITED INTO A CHARITABLE FUND AT THE GREATER KANSAS CITY COMMUNITY FOUNDATION, AND DONORS THEN GRANT THE PROCEEDS TO NONPROFIT ORGANIZATIONS.

    Expenses $6,843,116 · Grants $6,591,734 · Revenue $198,767

  • THE REAL ESTATE CHARITABLE FOUNDATION PROVIDES THE BUILDING AND INFRASTRUCTURE FOR A CHARTER SCHOOL. THE CHARTER SCHOOL PROVIDES K-12 EDUCATION TO UNDER-SERVED POPULATIONS IN THE METRO KANSAS CITY AREA.

    Expenses $1,758,812 · Revenue $293,396

As filed on the 2022 return.

Listed in Part VII

  • KATIE GRAY

    EXECUTIVE DIRECTOR

    Total calculated
    $284,254
    From this org
    $0
    From related orgs
    $250,246
    Other
    $34,008
    Hours/week
    1 + 40.2 related

    Schedule J breakdown matched by us

    Base
    $0 + $209,886 related
    Bonus
    $0 + $40,000 related
    Other
    $0 + $360 related
    Deferred
    $0 + $21,391 related
    Nontaxable benefits
    $0 + $12,617 related
    Filer's total
    $0 + $284,254 related

  • COREY ZIEGLER

    SECRETARY/TREASURER

    Total calculated
    $251,547
    From this org
    $0
    From related orgs
    $231,011
    Other
    $20,536
    Hours/week
    1 + 40.2 related

    Schedule J breakdown matched by us

    Base
    $0 + $195,242 related
    Bonus
    $0 + $35,409 related
    Other
    $0 + $360 related
    Deferred
    $0 + $19,549 related
    Nontaxable benefits
    $0 + $987 related
    Filer's total
    $0 + $251,547 related

  • KATE HAUBER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • FAYE DAVIS

    DIRECTOR/VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • TED MURRAY

    DIRECTOR/CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • DAVID HARRISON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAVID BRAIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WHITNEY KERR SR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

FORM 990, PART VII & SCHEDULE J, PART II
THE COMPENSATION BEING REPORTED FOR KATIE GRAY AND COREY ZIEGLER IS FROM THE GREATER KANSAS CITY COMMUNITY FOUNDATION, A RELATED ORGANIZATION. THE GREATER KANSAS CITY COMMUNITY FOUNDATION USES A COMPENSATION COMMITTEE, AN INDEPENDENT COMPENSATION CONSULTANT, A COMPENSATION SURVEY OR STUDY APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE TO ESTABLISH COMPENSATION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • RECF II LLC

    REAL ESTATE · MO · income $0 · assets $0

    Directly controlled by RECF

  • 6301KCMO LLC

    REAL ESTATE · MO · income $293,397 · assets $36,618,912

    Directly controlled by RECF

  • RECF IV LLC

    REAL ESTATE · MO · income $0 · assets $0

    Directly controlled by RECF

  • CP Deer Brook Plaza LLC

    Real Estate · MO · income $192,812 · assets $0

    Directly controlled by RECF

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER TRUSTS (29)

    CHARITABLE TR · MO · controlled entity

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202332619349301223

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