Reem Summit Nfp FY2023 filing

Chicago, ILUnknown exempt organizationEIN 46-5727187

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Education for real estate emerging managagers.

Mission: Form 990 Part I, line 1

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 2
filings with a surplus
Average surplus $72K a year · 38% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Cash reserves
15 mo
of spending, in cash
Looks good: 15.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$188K
76% of total assets
Worth a look: liabilities are 76% of assets; over 65%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$220K
Spent
$196K
Net assets
$58K
By yearFY2021–FY2025
Revenue
$220K
FY2023
Revenue by fiscal year
FY2021$123K
FY2022$0
FY2023$220K
FY2024$0
FY2025$155K
Expenses
$196K
FY2023
Expenses by fiscal year
FY2021Not on file
FY2022Not on file
FY2023$196K
FY2024Not on file
FY2025$36K
Net assets
$58K
FY2023▲ +74%
Net assets by fiscal year
FY2021$33K
FY2022$33K
FY2023$58K
FY2024$58K
FY2025$177K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Chief Accounting Officer
$0Pt VII · Sec A
See Reem Summit Nfp executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No

Programs and updates

Trains emerging real estate managers for success.

Provided by the organization

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1 program service, described in the organization's own filed words · FY2023.
01

The REEM Summit will create an interactive platform for real estate pension fund investors to interact with one another and share ideas in a protected environment. The innovative format for this program will be one that truly encourages dialogue and relationship building in the institutional real estate community.

Pt IX · col B

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By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$220K
Ln 12
Fees for servicesLn 2g$220K
Money outPt IX
$196K
Ln 25
Owns and owesPt X
$58K
net assets · Ln 32
Cash and savingsLn 1–2$246K
Total assetsLn 16$246K
LiabilitiesLn 26$188K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$220K
Gains on assetsLn 7$0
Total revenueLn 12$220K
Assets in detailPt X, end of year
CashLn 1$246K
SavingsLn 2$0
Cash and savings togetherLn 1–2$246K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$246K
LiabilitiesLn 26$188K
Net assetsLn 32$58K
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$68K$246K
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$123K$246K
LiabilitiesLn 26$90K$188K
Net assetsLn 32$33K$58K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$47K
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$135K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$14K
Total functional expensesLn 25$196K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $155K$36K$119K$177K 990 PDF
FY2024 $0$58K 990 PDF
FY2023 Viewing $220K$196K$25K$58K 990 PDF
FY2022 $0$33K 990 PDF
FY2021 $123K$33K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $220,153 across 8 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $220,153$220,153
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $220,153$220,153
Part IX · Statement of functional expenses $195,634 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$46,740
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$135,216
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24 Other expenses (24a–d)$13,678
IX-25 Total functional expenses$195,634
Part X · Balance sheet $245,532 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $67,649$245,532
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $55,400$0
X-16 Total assetsStart of year $123,049$245,532
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $89,861$187,825
X-26 Total liabilitiesStart of year $89,861$187,825
X-32 Total net assets or fund balancesStart of year $33,188$57,707
X-33 Total liabilities and net assetsStart of year $123,049$245,532
Part XI · Reconciliation of net assets $57,707 net assets at year end
XI-1 Total revenue$220,153
XI-2 Total expenses$195,634
XI-3 Revenue less expenses$24,519
XI-4 Net assets at start of year$33,188
XI-10 Net assets at end of year$57,707

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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