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Nonprofiteer
← ILLINOIS REAL ESTATE EDUCATIONAL FOUNDATION

Form 990 for tax year 2025

Filed by ILLINOIS REAL ESTATE EDUCATIONAL FOUNDATION.

Totals

Total revenue
$248,601
Total expenses
$136,439
Contributions and grants received
$164,973
Grants paid
$60,056
Program service revenue
$0
Investment income
$71,940
Other revenue
$11,688
Total assets, end of year
$2,196,777
Total liabilities, end of year
$83,891
Net assets or fund balances, end of year
$2,112,886
Program services expenses (Part IX)
$115,433
Management and general expenses
$17,006
Fundraising expenses
$4,000
Program service expenses (Part III)
$115,433

Program services were 84.6% 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.

  • 1e · Government grants (contributions)

    $42,500

  • 1f · All other contributions, gifts and grants

    $122,473

  • 3 · Investment income

    total $71,940 · excluded $71,940

  • 9a · Gaming: gross income

    $10,810

  • 9b · Gaming: direct expenses

    $3,122

  • 9c · Net income from gaming

    total $7,688 · excluded $7,688

  • 11a · Other revenue: OTHER INCOME

    total $4,000 · excluded $4,000

  • 11e · Other revenue, total

    $4,000

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $60,056 · program services $60,056

  • 7 · Other salaries and wages

    total $10,000 · program services $4,000 · management and general $2,000 · fundraising $4,000

  • 11c · Fees: accounting

    total $6,700 · management and general $6,700

  • 11f · Fees: investment management

    total $4,861 · management and general $4,861

  • 13 · Office expenses

    total $982 · management and general $982

  • 17 · Travel

    total $478 · management and general $478

  • 24a · Other expenses: PROGRAM EXPENSE

    total $51,377 · program services $51,377

  • 24b · Other expenses: DUES & FEES

    total $1,415 · management and general $1,415

  • 24c · Other expenses: BANK & CREDIT CARD FEES

    total $570 · management and general $570

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,981,355 · end of year $2,157,115

  • 4 · Accounts receivable

    beginning of year $23,390 · end of year $39,598

  • 9 · Prepaid expenses and deferred charges

    beginning of year $220 · end of year $64

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,617 · end of year $83,891

  • 27 · Net assets without donor restrictions

    beginning of year $1,930,348 · end of year $2,062,886

  • 28 · Net assets with donor restrictions

    beginning of year $50,000 · end of year $50,000

Mission and programs · 2025

Mission

PROVIDE GRANT SCHOLARSHIPS TO STUDENTS AND PROMOTE EDUCATION RELATED TO THE REAL ESTATE INDUSTRY.

Activities or mission (Part I)

PROVIDE CONTINUING EDUCATION AND TRAINING TO REAL ESTATE PROFESSIONALS AND GRANT SCHOLARSHIPS TO STUDENTS INTERESTED IN PURSUING AN EDUCATION OR CAREER IN REAL ESTATE.

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $115,433 · Grants $60,056

  • BROKER CONTINUING EDUCATION

As filed on the 2025 return. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • James Sim

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Sarah Ware

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Paula Arpasi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Teresa Camarato

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dominic Campo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Maureen Forgette

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andrea Greenwalt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ashley Heilman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jean Lewis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Massey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Laurie Murphy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tracy Patkunas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Matthew Persicketti

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joel Raynes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Karen Robertson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Timothy Ryan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brandon Shaffer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Simpson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kristie Tindall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Antonia Wesselink

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cathy Madaus

    TREASURER

    Total calculated
    $224,812
    From this org
    $0
    From related orgs
    $201,412
    Other
    $23,400
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $190,517 related
    Bonus
    $0 + $10,415 related
    Other
    $0 + $480 related
    Deferred
    $0 + $12,056 related
    Nontaxable benefits
    $0 + $11,344 related
    Filer's total
    $0 + $224,812 related

  • Laurie Clayton

    FOUNDATION MANAGER

    Total calculated
    $130,167
    From this org
    $0
    From related orgs
    $101,572
    Other
    $28,595
    Hours/week
    23

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

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

No itemized grants to organizations 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.

  • ILLINOIS REALTORS

    501(C)(6) · ESTABLISH AND MAINTAIN ETHICAL CODES AMONG REALTORS AND PROMOTE EDUCATION · IL

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.

Related corporations and trusts

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

  • REAL ESTATE ADMINISTRATIVE SERVICES INC

    C · PROVIDE REAL ESTATE ADMINISTRATIVE SERVICES · IL

Provenance

Return type
form_990
Tax year
2025
Filed
28 May 2026
IRS schema version
2025v4.1
Source object
202631599349300518

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