To expand career pathways in commercial real estate through education, mentorship, and strategic industry partnerships.

501(c)(3) charity; gifts are tax-deductible.
70¢ of each $1 spent went to programs.
$135K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $57K a year · 12% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$135K
to officers and key staff · 29% of spending
Worth a look: pay to officers and key staff is 29% of spending; over 20%.
Pt VII · Sec A
18 mo
of spending, in cash
Looks good: 17.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $11
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$12K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
22
of 22 voting members
Looks good: 22 of 22 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$537K
+10% vs prior year
Spent
$474K
To programs
70%
Net assets
$765K
By yearFY2020–FY2024
Revenue
$537K
FY2022▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2020$539K
FY2021$489K
FY2022$537K
FY2023$429K
FY2024$285K
Expenses
$474K
FY2022▲ +25%
Tap a bar for its year
Expenses by fiscal year
FY2020$333K
FY2021$378K
FY2022$474K
FY2023$437K
FY2024$372K
Net assets
$765K
FY2022▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2020$592K
FY2021$703K
FY2022$765K
FY2023$731K
FY2024$644K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2001.

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

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $331K Management & general 11% · $54K Fundraising 19% · $89K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

2 people listed on the 990; $135K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Dir.
$135,474Pt VII · Sec A
$0Pt VII · Sec A

Manikka Bowman’s $159K as Executive Dir. is at the 96th percentile of top reported officer pay among 1613 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2023FY2022
Manikka Bowman$159,433$135,474

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Expands commercial real estate careers via education, mentorship, and industry partnerships.

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Provided by the organization

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2 programs · $331K · in their own filed words · FY2022
01

Conducted academies offering a 10-week virtual and in-person learning program for 150 students. Conducted 3 advanced learning virtual sessions available to 1,800 alumni,together with 7 in-person networking events. Produced 5 thought leadership publications and 5 newsletters.

$231Kprogram expense
02

Continued collaboration with two experts in the field of community development finance establishing a new initiative to facilitate the entry of minority professionals into that field. Marketed the program to REAP alumni and attracted applications for internships. Arranged for a coordinator and publicist to administer the program.

$100Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$11

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$537K
Ln 12
Gifts and grantsLn 1h$457K
Fees for servicesLn 2g$80K
Investment incomeLn 3$202
Money outPt IX
$474K
Ln 25
Programscol B$331K
Managementcol C$54K
Fundraisingcol D$89K
Owns and owesPt X
$765K
net assets · Ln 32
Cash and savingsLn 1–2$690K
Total assetsLn 16$777K
LiabilitiesLn 26$12K
PeoplePt VI, VII
2
listed · VII A
PaidVII A1
Voting boardVI 1a22
IndependentVI 1b22
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$457K
Government grantsLn 1e$15K
Fees for servicesLn 2g$80K
Investment incomeLn 3$202
Gains on assetsLn 7$0
Total revenueLn 12$537K
Assets in detailPt X, end of year
CashLn 1$487K
SavingsLn 2$202K
Cash and savings togetherLn 1–2$690K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$777K
LiabilitiesLn 26$12K
Net assetsLn 32$765K
OperationsPt I, VI
EmployeesI 536
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 FY22End FY22
Cash and savingsLn 1–2$693K$690K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$729K$777K
LiabilitiesLn 26$26K$12K
Net assetsLn 32$703K$765K
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$135K$41K$27K$68K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$27K$27K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$4K$2K$636$2K
Payroll taxesLn 10$13K$6K$2K$5K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$11K$11K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$136K$136K
Advertising and promotionLn 12$0
Office expensesLn 13$574$277$85$212
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$22K$10K$3K$8K
TravelLn 17$6K$6K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$7K$4K$761$2K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$3K$987$2K
Other expenses (24a–d)Ln 24$92K$80K$8K$4K
All other expensesLn 24e$18K$18K$116$289
Total functional expensesLn 25$474K$331K$54K$89K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $285K$372K−$87K$644K 990 PDF
FY2023 $429K$437K−$8K$731K 990 PDF
FY2022 Viewing $537K$474K$63K$765K 990 PDF
FY2021 $489K$378K$110K$703K 990 PDF
FY2020 $539K$333K$206K$592K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $536,741 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $330,302$456,757
I-9 Program service revenuePrior year $158,214$79,782
I-10 Investment incomePrior year $202$202
I-11 Other revenue$0
I-12 Total revenuePrior year $488,718$536,741
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $108,022$179,981
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $270,264$294,209
I-18 Total expensesPrior year $378,286$474,190
I-19 Revenue less expensesPrior year $110,432$62,551
Part VI · Governance 22 of 22 board members independent, 4 to look at
VI-1a Voting members of the governing body22
VI-1b Independent voting members22
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $536,741 across 10 lines filed
VIII-1e Government grants$15,150
VIII-1f All other contributions, gifts and grants$441,607
VIII-1h Total contributions, gifts and grants$456,757
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $79,782$79,782
VIII-3 Investment incomeExcluded from tax $202$202
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 $79,782 · Excluded from tax $202$536,741
Part IX · Statement of functional expenses $474,190 across 31 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 staffPrograms $40,642 · Management $27,095 · Fundraising $67,737$135,474
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $27,189$27,189
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $2,073 · Management $636 · Fundraising $1,591$4,300
IX-10 Payroll taxesPrograms $6,275 · Management $1,927 · Fundraising $4,816$13,018
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $11,220$11,220
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $135,717$135,717
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $277 · Management $85 · Fundraising $212$574
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $10,421 · Management $3,200 · Fundraising $7,999$21,620
IX-17 TravelPrograms $5,911$5,911
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $3,899 · Management $761 · Fundraising $1,902$6,562
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $987 · Management $1,662$2,649
IX-24 Other expenses (24a–d)Programs $79,800 · Management $7,574 · Fundraising $4,321$91,695
IX-24e All other expensesPrograms $17,856 · Management $116 · Fundraising $289$18,261
IX-25 Total functional expensesPrograms $331,047 · Management $54,276 · Fundraising $88,867$474,190
Part X · Balance sheet $777,300 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $490,791$487,297
X-2 Savings and temporary cash investmentsStart of year $202,295$202,498
X-3 Pledges and grants receivableStart of year $26,638$84,325
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $8,880$3,180
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $728,604$777,300
X-17 Accounts payable and accrued expensesStart of year $10,727$12,022
X-26 Total liabilitiesStart of year $25,877$12,022
X-27 Net assets without donor restrictionsStart of year $597,482$656,717
X-28 Net assets with donor restrictionsStart of year $105,245$108,561
X-32 Total net assets or fund balancesStart of year $702,727$765,278
X-33 Total liabilities and net assetsStart of year $728,604$777,300
Part XI · Reconciliation of net assets $765,278 net assets at year end
XI-1 Total revenue$536,741
XI-2 Total expenses$474,190
XI-3 Revenue less expenses$62,551
XI-4 Net assets at start of year$702,727
XI-10 Net assets at end of year$765,278

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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