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← REAL ESTATE CHARITABLE FOUNDATION

Form 990 for tax year 2023

Filed by REAL ESTATE CHARITABLE FOUNDATION.

Totals

Total revenue
-$928,843
Total expenses
$1,933,127
Contributions and grants received
$0
Grants paid
$121,670
Program service revenue
$293,396
Investment income
-$1,222,239
Other revenue
$0
Total assets, end of year
$37,566,450
Total liabilities, end of year
$936,856
Net assets or fund balances, end of year
$36,629,594
Program services expenses (Part IX)
$1,910,241
Management and general expenses
$22,886
Fundraising expenses
$0
Program service expenses (Part III)
$1,910,241

Program services were 98.8% 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 $293,396 · related or exempt $293,396

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $761 · excluded $761

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    other assets $1,825,000

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

    other assets $3,048,000

  • 7c · Gain or loss

    securities $0 · other assets -$1,223,000

  • 7d · Net gain or loss

    total -$1,223,000 · excluded -$1,223,000

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $121,670 · program services $121,670

  • 11a · Fees: management

    total $20,811 · management and general $20,811

  • 11b · Fees: legal

    total $1,955 · management and general $1,955

  • 11f · Fees: investment management

    total $120 · management and general $120

  • 11g · Fees: other

    total $113,805 · program services $113,805 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $19,276 · program services $19,276

  • 20 · Interest

    total $19,877 · program services $19,877

  • 22 · Depreciation, depletion and amortization

    total $1,635,613 · program services $1,635,613

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $80 · end of year $80

  • 2 · Savings and temporary cash investments

    beginning of year $3,077 · end of year $1,630,294

  • 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

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

    $53,274,379

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

    $18,291,303

  • 10c · Land, buildings and equipment, net

    beginning of year $36,618,689 · end of year $34,983,076

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $4,008,382 · end of year $953,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,327 · end of year $1,261

  • 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 $909,784 · end of year $736,331

  • 25 · Other liabilities

    beginning of year $253,811 · end of year $199,264

  • 27 · Net assets without donor restrictions

    beginning of year $39,465,306 · end of year $36,629,594

Mission and programs · 2023

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 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 $1,755,370 · Revenue $293,396

  • 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 $154,871 · Grants $121,670

As filed on the 2023 return.

Listed in Part VII

  • DAVID BRAIN

    DIRECTOR / VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • WHITNEY KERR SR

    DIRECTOR / CHAIR

    Total calculated
    $0
    Hours/week
    1

  • CATHERINE M HAUBER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAVID HARRISON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • COREY ZIEGLER

    SECRETARY/TREASURER

    Total calculated
    $267,053
    From this org
    $0
    From related orgs
    $245,431
    Other
    $21,622
    Hours/week
    1 + 40.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $206,091 related
    Bonus
    $0 + $39,064 related
    Other
    $0 + $276 related
    Deferred
    $0 + $20,635 related
    Nontaxable benefits
    $0 + $987 related
    Filer's total
    $0 + $267,053 related

  • KATIE GRAY

    EXECUTIVE DIRECTOR

    Total calculated
    $303,967
    From this org
    $0
    From related orgs
    $268,452
    Other
    $35,515
    Hours/week
    1 + 40.2 related

    Schedule J breakdown matched by us

    Base
    $0 + $225,525 related
    Bonus
    $0 + $42,747 related
    Other
    $0 + $180 related
    Deferred
    $0 + $22,945 related
    Nontaxable benefits
    $0 + $12,570 related
    Filer's total
    $0 + $303,967 related

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)

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 $293,402 · assets $34,983,305

    Directly controlled by RECF

  • RECF IV LLC

    REAL ESTATE · MO · income $0 · 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 (26)

    CHARITABLE TR · MO · controlled entity

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
22 October 2024
IRS schema version
2023v5.1
Source object
202412969349301951

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