Totals
- Total revenue
- $4,481,458
- Total expenses
- $3,288,293
- Contributions and grants received
- $3,823,937
- Grants paid
- $2,502,541
- Program service revenue
- $0
- Investment income
- $657,521
- Other revenue
- $0
- Total assets, end of year
- $24,550,282
- Total liabilities, end of year
- $67,334
- Net assets or fund balances, end of year
- $24,482,948
- Program services expenses (Part IX)
- $2,786,770
- Management and general expenses
- $298,487
- Fundraising expenses
- $203,036
- Program service expenses (Part III)
- $2,786,770
Program services were 84.7% 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.
-
1f · All other contributions, gifts and grants
$3,823,937
-
1g · Noncash contributions included above
$18,653
-
3 · Investment income
total $657,521 · excluded $657,521
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,502,541 · program services $2,502,541
-
5 · Compensation of officers, directors and key employees
total $295,148 · program services $147,574 · management and general $88,544 · fundraising $59,030
-
7 · Other salaries and wages
total $125,298 · program services $12,259 · management and general $75,752 · fundraising $37,287
-
9 · Other employee benefits
total $4,241 · program services $213 · management and general $3,307 · fundraising $721
-
10 · Payroll taxes
total $24,229 · program services $8,240 · management and general $10,430 · fundraising $5,559
-
11b · Fees: legal
total $29,520 · management and general $29,520
-
11c · Fees: accounting
total $32,432 · management and general $32,432
-
13 · Office expenses
total $9,312 · program services $3,104 · management and general $3,105 · fundraising $3,103
-
14 · Information technology
total $9,639 · management and general $7,830 · fundraising $1,809
-
17 · Travel
total $40,894 · program services $20,447 · fundraising $20,447
-
19 · Conferences, conventions and meetings
total $27,610 · fundraising $27,610
-
22 · Depreciation, depletion and amortization
total $750 · management and general $750
-
23 · Insurance
total $2,742 · management and general $2,742
-
24a · Other expenses: MARKETING
total $57,997 · program services $26,639 · fundraising $31,358
-
24b · Other expenses: PROGRAM EXPENSES
total $54,000 · program services $54,000
-
24c · Other expenses: CONSULTING FEES
total $52,775 · program services $11,753 · management and general $24,910 · fundraising $16,112
-
24d · Other expenses: BANK FEES
total $9,689 · management and general $9,689
-
24e · All other expenses
total $9,476 · management and general $9,476
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $404,601 · end of year $618,438
-
2 · Savings and temporary cash investments
beginning of year $13,838,670 · end of year $11,929,277
-
3 · Pledges and grants receivable
beginning of year $8,672,877 · end of year $8,729,661
-
9 · Prepaid expenses and deferred charges
beginning of year $274,421 · end of year $5,511
-
10a · Land, buildings and equipment: cost or other basis
$3,866
-
10b · Land, buildings and equipment: accumulated depreciation
$750
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $3,116
-
11 · Investments: publicly traded securities
end of year $3,264,279
-
17 · Accounts payable and accrued expenses
beginning of year $5,551 · end of year $67,334
-
27 · Net assets without donor restrictions
beginning of year $14,512,141 · end of year $15,753,287
-
28 · Net assets with donor restrictions
beginning of year $8,672,877 · end of year $8,729,661
Mission and programs · 2023
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.
Activities or mission (Part I)
TO ADVANCE DIVERSITY AND INCLUSION IN THE INSTITUTIONAL REAL ESTATE INDUSTRY
-
THE FOUNDATION PROVIDES FINANCIAL SUPPORT TO QUALIFIED GRANTEE(S) WHICH PROVIDE PROFESSIONAL DEVELOPMENT PROGRAMS AND TRAINING TO ENCOURAGE MINORITIES TO PURSUE CAREERS IN THE REAL ESTATE INDUSTRY. DURING THE YEAR ENDED DECEMBER 31, 2023, THE PROGRAM SERVED 1,059 STUDENTS, 490 BY SEO, 403 BY GWI, 82 BY REEX, 62 BY URBAN ALLIANCE AND 22 BY TOIGO.
Expenses $2,786,770 · Grants $2,502,541
As filed on the 2023 return.
Listed in Part VII
-
Debbie HarmonDEBBIE HARMON
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Kevin FaxonKEVIN FAXON
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Dhvani ShahDHVANI SHAH
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Yvonne NelsonYVONNE NELSON
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Kathleen McCarthyKATHLEEN MCCARTHY
VICE PRESIDENT (THRU MAY 2023)
- Total calculated
- $0
- Hours/week
- 1
-
Jonathan DavisJONATHAN DAVIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mike DireMIKE DIRE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
David GilbertDAVID GILBERT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Gail HaynesGAIL HAYNES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sonny KalsiSONNY KALSI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Eric LangERIC LANG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Linda AssanteLINDA ASSANTE
VICE PRESIDENT (EFFECTIVE MAY 2023)
- Total calculated
- $0
- Hours/week
- 1
-
Tom LeeTOM LEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Chris LeeCHRIS LEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John BradyJOHN BRADY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Chad TredwayCHAD TREDWAY
DIRECTOR (THRU MAY 2023)
- Total calculated
- $0
- Hours/week
- 1
-
Manny CasangaMANNY CASANGA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Melinda Ellis-EversMELINDA ELLIS-EVERS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jeff FineJEFF FINE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lee MillsteinLEE MILLSTEIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Christina ScarlatoCHRISTINA SCARLATO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dean AlderDEAN ALDER
DIRECTOR (EFFECTIVE MAY 2023)
- Total calculated
- $0
- Hours/week
- 1
-
Jonathan SlagerJONATHAN SLAGER
DIRECTOR (EFFECTIVE MAY 2023)
- Total calculated
- $0
- Hours/week
- 1
-
Eric WuERIC WU
DIRECTOR (EFFECTIVE MAY 2023)
- Total calculated
- $0
- Hours/week
- 1
-
Ivan BarronIVAN BARRON
EXECUTIVE DIRECTOR
- Total calculated
- $294,161
- From this org
- $274,327
- From related orgs
- $0
- Other
- $19,834
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $274,327
- Bonus
- $0
- Other
- $0
- Deferred
- $11,250
- Nontaxable benefits
- $8,584
- Filer's total
- $294,161
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
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
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
-
SPONSORS FOR EDUCATIONAL OPPORTUNITY INC
$1,591,600
PREA/SEO REAL ESTATE TRACK SUMMER 2023 INTERNSHIP PROGRAM
-
$272,441
EDUCATIONAL PROGRAM ADVANCING THE ENTRANCE AND ONGOING SKILL DEVELOPMENT OF DIVERSE MBAS INTO THE FIELD OF REAL ESTATE
-
$238,500
INITIATIVE TO INCREASE THE NUMBER OF COLLEGE-AGE WOMEN WHO ARE EXPOSED TO REAL ESTATE INVESTMENT MANAGEMENT CAREERS THROUGH EDUCATION AND INTERNSHIPS.
-
BASIS IMPACT GROUP FOUNDATION INC
$200,000
FOR THE BENEFIT OF THE REAL ESTATE EXECUTIVE COUNCIL SUMMER INTENSIVE PROGRAM
-
$200,000
REAL ESTATE SKILLS TRAINING FOR UNDERSERVED HIGH SCHOOL SENIORS
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 19 August 2024
- IRS schema version
- 2023v5.1
- Source object
- 202402429349300435
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.