2023-06-21T10:47:01-05:00 2022-12-31 FORVIS LLP 1901 S Meyers Road Suite 500 Oakbrook Terrace IL 601815209 990 2022-01-01 366214767 INSTITUTE OF REAL ESTATE MANAGEMENT % CHRISTOPHER MIGALA INST 8008370706 430 N MICHIGAN AVENUE STE 500 CHICAGO IL 606114090 CHRISTOPHER MIGALA CFO 3123296000 2023-06-05 true CHRISTOPHER MIGALA 999009999 Bernadette D Zita P00089845 6302829500 2 2022 2023-04-26 12:10:37Z CHRISTOPHER MIGALA 430 N MICHIGAN AVENUE STE 500 CHICAGO IL 60611 15794950 false X WWW.IREM.ORG X 1933 IL TO ADVANCE THE PROFESSION OF REAL ESTATE MANAGEMENT. 18 18 72 500 39465 22258 1694743 554351 11846766 11797681 226035 -117302 310513 389059 14078057 12623789 193577 0 0 0 6478255 6659622 0 0 0 6662052 6517998 13333884 13177620 744173 -553831 10741868 10259836 4377976 5255429 6363892 5004407 TO ADVANCE THE PROFESSION OF REAL ESTATE MANAGEMENT WHILE HELPING REAL ESTATE MANAGERS PROSPER AND ADD VALUE TO THEIR COMPANIES AND THE PROPERTIES THEY MANAGE. false false CONDUCTED COURSES IN PROPERTY MANAGEMENT FOR A TOTAL OF 8,400 STUDENTS. ISSUED AND MAINTAINED CERTIFICATIONS FOR OVER 10,000 INDIVIDUALS AND NEARLY 500 PROPERTIES WORLDWIDE. OFFERED MEETINGS FOR THE MUTUAL EXCHANGE OF PROFESSIONAL INFORMATION FOR THE BENEFIT OF THE MEMBERSHIP. false true false true false false false false false true false false true true false true false false false true false false false false false false false false true false false false false false false false false false false false false false false true 78 0 72 true true true false false false true true false false false X 18 18 false false false false true true false true true false true true true true true true true true true true false X X CHRISTOPHER MIGALA 3123296049 430 N MICHIGAN AVENUE CHICAGO IL 60611 Christopher Migala Chief Financial/Admin Officer 45.0 0.0 X 225076 0 43300 Wendy Becker Chief Learning Officer 45.0 0.0 X 222575 0 45003 Lynn Disbrow Chief Operating Officer 45.0 0.0 X 223941 0 39378 Linda Caradine-Poinsett EVP and CEO 45.0 0.0 X 191377 0 9494 Alex Levin Sr. Director, Technology & Com 45.0 0.0 X 156814 0 33339 Leah Misbin Sr. Director, International Pr 45.0 0.0 X 138159 0 33206 Joel Loughman Director, Association Manageme 45.0 0.0 X 136995 0 21967 Edward Thurn Sr. Director, Government Affai 45.0 0.0 X 143822 0 14382 Marie Bernadette Patton Interim CEO 45.0 0.0 X 156000 0 0 Bridget Terrones Vice-President, Marketing 45.0 0.0 X 127738 0 12774 Barry G Blanton CPM President 25.0 0.0 X X 0 0 0 Renee Savage CPM President Elect 25.0 0.0 X X 0 0 0 Libby Ekre CPM Secretary/Treasurer 25.0 0.0 X X 0 0 0 Chip Watts CPM Immediate Past President 10.0 0.0 X 0 0 0 Brad Ashley CPM Member 1.0 0.0 X 0 0 0 Branden Barker CPM Member 1.0 0.0 X 0 0 0 Dawn M Carpenter CPM Member 25.0 0.0 X 0 0 0 Donald Wilkerson CPM Member 1.0 0.0 X 0 0 0 Gregory Cichy CPM Member 1.0 0.0 X 0 0 0 Karen Pharr CPM Member 1.0 0.0 X 0 0 0 Kimberly Collins CPM Member 1.0 0.0 X 0 0 0 Mindy Gronbeck CPM Member 1.0 0.0 X 0 0 0 Ryan Huffman CPM Member 1.0 0.0 X 0 0 0 Shaniece Sanford CPM Member 1.0 0.0 X 0 0 0 Sidney Ingelson CPM Member 1.0 0.0 X 0 0 0 Timothy Kramer CPM ARM Member 1.0 0.0 X 0 0 0 Toni R Harris CPM ARM Member 1.0 0.0 X 0 0 0 Waddell Wright CPM CCIM Member 1.0 0.0 X 0 0 0 1722497 0 252843 12 false true false General Learning Communications LL 9911 Woods Drive SKOKIE IL 60077 Publication Services 133706 BannerWave LLC 901 Lake St 2302 OAK PARK IL 60303 Marketing 125000 2 554351 554351 MEMBERSHIP DUES 900099 6663759 6663759 LEARNING 900099 3123551 3123551 MEETINGS & CONFERENCES 900099 601287 601287 PUBLISHING 519130 245289 205824 39465 APPLICATIONS & EXAMS 900099 1163795 1163795 11797681 152119 152119 0 91229 91229 0 0 0 2901740 3171161 -269421 -269421 -269421 0 0 0 0 0 0 0 0 0 MANAGEMENT SERVICE CONTRACT 900099 297414 297414 MISCELLANEOUS INTERNATIONAL REVENUE 900099 416 416 297830 12623789 11758216 39465 271757 0 0 0 0 1156144 0 4236211 324898 533563 408806 0 31652 39869 0 0 26736 323090 602139 306520 0 13706 657948 750271 0 1114694 0 0 321055 72354 CHAPTER EXPENSES 675060 MAINTENANCE AND REPAIRS 585655 SERVICE AND ADMIN FEES 375219 MEMBER PAYMENTS 252815 369215 13177620 115295 848575 1138919 467197 0 0 345408 245917 0 0 0 0 0 0 34439 30979 398476 284143 4636663 4298162 602158 338501 8107173 7014254 0 0 0 0 0 0 0 1030270 10741868 10259836 1606842 1363253 0 0 2771134 2743953 0 0 0 0 0 0 0 0 0 0 0 1148223 4377976 5255429 X 6363892 5004407 0 0 6363892 5004407 10741868 10259836 -553831 -805654 X false true X true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false 6663759 261115 -12802 248313 249249 -936 154900 113593 41307 4462452 4184569 277883 19311 19311 338501 ROU ASSETS - OPERATING LEASES 1030270 1030270 0 OPERATING LEASE LIABILITIES 1148223 1148223 X 11818135 -805654 -805654 12623789 12623789 13177620 13177620 13177620 Part X, Line 2 The Institute was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code Section 501(c)(6). The tax-exempt purpose of the Institute and the nature in which it operates is described in the first paragraph of Note 1. Management's assertion is that there are no uncertain tax positions and the Institute continues to operate in compliance with its tax-exempt purpose. Certain Institute activities are considered to be unrelated business income which is subject to income taxes. The financial statements do not include a provision for income taxes because the Institute's unrelated business income is reduced by related expenses, resulting in only a small amount or no taxable income. The Institute has adopted the requirements for accounting for uncertain tax positions and management has determined that the Institute was not required to record a liability related to uncertain tax positions as of December 31, 2022. true East Asia and the Pacific Program Services MEMBERSHIP & EDUCATION 107588 Sub-Saharan Africa Program Services MEMBERSHIP & EDUCATION 97390 North America Program Services MEMBERSHIP & EDUCATION 53330 Middle East and North Africa Program Services MEMBERSHIP & EDUCATION 38805 Europe (Including Iceland and Greenland) Program Services MEMBERSHIP & EDUCATION 9440 South America Program Services MEMBERSHIP & EDUCATION 3598 Russia and the Newly Independent States Program Services MEMBERSHIP & EDUCATION 3543 313694 313694 false false false false false false SCHEDULE F, PART I, LINE 2 IREM ACCOUNTS FOR EXPENDITURES BY COUNTRY FOR ITS EDUCATIONAL OFFERINGS AND TRAVEL EXPENSES ON THE ACCRUAL METHOD. IREM ALSO INCURRED EXPENSES AND OTHER COSTS ASSOCIATED WITH FOREIGN MEMBERSHIP AND EDUCATION THAT ARE NOT IDENTIFIED WITH ANY SPECIFIC COUNTRY, INCLUDING TRANSLATION, WEBSITE SUBSIDIES AND GENERAL SUPPLIES. MOST EXPENSES NOTED WERE INCURRED IN THE UNITED STATES FOR TRANSLATIONS, TRAVEL OR TO COMPENSATE U.S. INSTRUCTORS. X X X true true X X X false false false Linda Caradine-Poinsett EVP and CEO 191377 9494 200871 Marie Bernadette Patton Interim CEO 156000 156000 Christopher Migala Chief Financial/Admin Officer 185556 39520 23375 19925 268376 Lynn Disbrow Chief Operating Officer 186224 37717 23004 16374 263319 Wendy Becker Chief Learning Officer 185148 37427 22557 22446 267578 Joel Loughman Director, Association Manageme 132995 4000 13820 8147 158962 Alex Levin Sr. Director, Technology & Com 132536 24278 15983 17356 190153 Edward Thurn Sr. Director, Government Affai 122991 20831 14382 158204 Leah Misbin Sr. Director, International Pr 115204 22955 14555 18651 171365 SCHEDULE J, PART I, LINE 1A OFFICERS CAN FLY BUSINESS CLASS IF THE FLIGHT EXCEEDS THREE HOURS. Schedule J, Part I, Line 1a Officers brought a companion on certain business trips. The benefit was treated as taxable compensation. Schedule J, Part I, Line 1a Payments include a gross-up to cover the tax liability. FORM 990, PART VI, LINE 1A THE BOARD OF DIRECTORS, CONSISTING OF 18 MEMBERS AS LISTED ON PAGES SEVEN AND EIGHT OF THE FORM 990, IS RESPONSIBLE TO CONDUCT THE AFFAIRS OF IREM, OVERSEE BUSINESS MANAGEMENT, AND MANAGE STRATEGIC PLAN IMPLEMENTATION. IT MEETS APPROXIMATELY FOUR TIMES PER YEAR WITH THE PRESIDENT PRESIDING OVER THE MEETINGS. THE GOVERNING COUNCIL INCLUDES THE BOARD OF DIRECTORS AND OVER 200 OTHER MEMBERS. IT MEETS ONCE A YEAR APPROVING MAJOR ISSUES SUCH AS MEMBERSHIP CHANGES, THE ANNUAL BUDGET AND OPERATING PLAN, THE STRATEGIC PLAN, AND AMENDMENTS TO THE BYLAWS. THE GOVERNING COUNCIL IS PROVIDED WITH THE QUARTERLY FINANCIAL AND OPERATIONS REPORTS. FORM 990, PART VI, SECTION A, LINE 6 IREM IS A MEMBERSHIP ORGANIZATION THAT HAS NEARLY 20,000 MEMBERS. THE TWO CATEGORIES OF MEMBERSHIP ARE CREDENTIALED MEMBERS AND NONCREDENTIALED MEMBERS. CREDENTIALED MEMBERS ARE THOSE INDIVIDUALS WHO HAVE CERTIFIED PROPERTY MANAGER (CPM) DESIGNATION AWARDED BY THE INSTITUTE OF REAL ESTATE MANAGEMENT AND WHO, IF THEY RESIDE IN THE UNITED STATES, FURTHER HOLD SOME FORM OF MEMBERSHIP IN A MEMBER BOARD OF THE NATIONAL ASSOCIATION OF REALTORS. ONLY CREDENTIALED MEMBERS ARE ELIGIBLE TO HOLD ELECTIVE OFFICE IN THE INSTITUTE OF REAL ESTATE MANAGEMENT. NONCREDENTIALLED MEMBERS INCLUDING, ACCREDITED RESIDENTIAL MANAGER (ARM) AND ACCREDITED COMMERCIAL MANAGER (ACOM), ARE THOSE INDIVIDUALS WHO UPON WRITTEN APPLICATION TO AND APPROVAL BY THE INSTITUTE, HAVE BEEN GRANTED AND CONTINUE TO MAINTAIN THE CERTIFICATION, IN ACCORDANCE WITH POLICIES ESTABLISHED BY THE GOVERNING COUNCIL. FORM 990, PART VI, SECTION A, LINE 7A IREM MEMBERS MAY ELECT MEMBERS AND OFFICERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 WAS PREPARED BY AN INDEPENDENT CPA FIRM AND REVIEWED BY THE STAFF. THE COMPLETED TAX RETURNS WERE PROVIDED TO THE AUDIT AND INVESTMENTS COMMITTEE FOR REVIEW AND DISCUSSION. THE AUDIT AND INVESTMENTS COMMITTEE REPORTS TO THE BOARD OF DIRECTORS WHICH IN TURN REPORTS TO THE GOVERNING COUNCIL AS A WHOLE. FORM 990, PART VI, SECTION B, LINE 12C ALL VOLUNTEERS ARE REQUIRED TO READ AND ELECTRONICALLY SIGN-OFF ON A CONFLICT OF INTERST FORM UPON ACCEPTING THEIR ANNUAL APPOINTMENT. FORM 990, PART VI, SECTION B, LINE 15A IREM USES COMPETITIVE RESEARCH STUDIES TO DETERMINE SALARIES OF ALL STAFF INCLUDING THE CEO. THE THREE ELECTED OFFICERS OF THE BOARD APPROVE THE COMPENSATION PACKAGE OF THE CEO. THE PROCESS INCLUDES CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. FORM 990, PART VI, SECTION B, LINE 15B IREM USES COMPETITIVE RESEARCH STUDIES TO DETERMINE SALARIES OF ALL STAFF INCLUDING THE CEO. THE THREE ELECTED OFFICERS OF THE BOARD APPROVE THE COMPENSATION PACKAGE OF THE CEO. THE PROCESS INCLUDES CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST