2026-07-08T15:12:45+00:00 2025-09-30 350921680 CROWE LLP 701 13th St NW Suite 852 Washington DC 20005 990 2024-10-01 363746120 Chicago Association of REALTORS Educational Foundation Inc CHIC 3128034900 430 N Michigan Ave 800 CHICAGO IL 60611 ROBERT P SCHMIDT CPA MBA TOP FINANCIAL OFFICIAL 2026-07-08 true Steve Lenivy P01635350 2026245555 2026-07-08 2024 2025-03-06 01:10:19Z MICHELLE MILLS CLEMENT 430 N Michigan Ave 800 CHICAGO IL 60611 551400 false X https://chicagorealtor.com/foundation/ X 1990 IL TO ENCOURAGE, PROMOTE & PROVIDE EDUCATION IN THE FIELD OF REAL ESTATE AND TO PROVIDE GRANTS FOR PHILANTHROPIC PURPOSES. 14 14 0 15 0 249410 181907 0 34183 43784 0 283593 225691 141159 172284 0 0 0 7165 93413 100966 234572 273250 49021 -47559 1427924 1461105 19450 36789 1408474 1424316 A 501(c)(3) charitable organization, we are the education, philanthropic, and research arm of the Chicago Association of REALTORS. The Foundation provides REALTORS with opportunities to enhance their business through education, fosters careers in real estate, and champions the professional image of the Chicago REALTOR. false false 229470 172284 0 THE FOUNDATION PROVIDES SCHOLARSHIPS TO ASSIST REALTORS AND THEIR FAMILIES IN MEETING THEIR REAL ESTATE EDUCATIONAL GOALS. THESE FUNDS ARE INTENDED TO HELP QUALIFIED REALTORS AND STUDENTS PURSUE AN EDUCATION, DESIGNATION, OR CERTIFICATION THAT WILL LEAD THEM INTO PRODUCTIVE CAREERS IN THE REAL ESTATE INDUSTRY. THE FOUNDATION ALSO HOSTS VARIOUS INDUSTRY RECOGNITION EVENTS. In addition, the Foundation provides grants to organizations recognized by the IRS as 501(c)(3) organizations for philanthropic purposes. 229470 true true false false false false false false false false false false false false false true false true false false false false false false false false false true true true false false false false false false false false false false false false false false false true false false false false true 0 0 0 false false false false false false false false false false false false X 14 14 false false false false false false false true true false false false true true true true true true false false false false IL X Robert P Schmidt 3128034900 430 N Michigan Ave Suite 800 CHICAGO IL 60611 Antonia Mills Chairperson 0.2 0 X X 0 0 0 Kelly Price Chairperson-Elect 0.2 0 X X 0 0 0 Sharon Aguilera Treasurer 0.2 0 X X 0 0 0 Cezar Daniel Lordan Trustee 0.2 0 X 0 0 0 DJ Paris Trustee 0.2 0 X 0 0 0 Keisha Williams Trustee 0.2 0 X 0 0 0 Lutalo McGee President-Elect 0.2 1.0 X 0 6000 0 Marion J Valle Founding Chairman 0.2 0 X 0 0 0 Megan Oswald Trustee 0.2 1.0 X 0 0 0 Rachel Scheid Trustee 0.2 1.0 X 0 0 0 Sarah Langum Trustee 0.2 0 X 0 0 0 Sheldon Good Founding Chairman 0.2 0 X 0 0 0 Tiffany Jimenez Trustee 0.2 0 X 0 0 0 Travis Williams Trustee 0.2 0 X 0 0 0 Michelle Mills Clement TOP Mgmt Offical & CAR CEO 0.5 51.0 X 0 503864 41071 Robert Schmidt Top Financial Official & CAR CFO 0.5 46.0 X 0 240447 14503 0 750311 55574 0 false true false 0 15485 166422 181907 0 0 0 0 0 37362 37362 0 0 332131 325709 6422 0 6422 6422 0 0 0 0 0 225691 0 0 43784 101004 101004 71280 71280 467 467 7888 7888 8678 8678 0 0 0 0 638 638 7549 7549 6185 6185 ADMINISTRATIVE FEES PAID TO RELATED ORG (CAR) 41680 33344 5210 3126 INDUSTRY RECOGNITION EVENTS 23796 23796 General Fundriasing 4039 4039 Miscellaneous 46 46 0 0 0 0 273250 229470 36615 7165 474609 417001 0 0 0 0 0 1877 0 0 0 0 952292 1040165 0 0 1023 2062 1427924 1461105 19450 36789 0 0 0 0 19450 36789 X 1319516 1351736 88958 72580 1408474 1424316 1427924 1461105 -47559 63401 0 X false true true false X X X 1 CHICAGO ASSOCIATION OF REALTORS 360904580 9 true 5000 0 1 5000 0 true false true true true false false false false false false false false false false false false true false Schedule A, Part IV, Section A, Line 3b Qualified Under 501C(4)(5) Or (6) Annually, the supported organization completes a pro forma schedule a, part III to confirm it satisfies the public support tests under section 509(a)(2). The supporting calculation is kept in the supporting organization's files. Schedule A, Part IV, Section A, Line 3c Support To Org. Used Exclusively Sec. 170(c)(2)(B) Purposes As outlined in its governing documents, the supporting organization operates exclusively for charitable, educational, religious, or scientific purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code. Furthermore, the Foundation engages in activities that align with the supported organization's exempt purpose of uniting THE REAL ESTATE INDUSTRY IN CHICAGO THROUGH EDUCATION AND RESEARCH. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 289092 63401 0 63401 225691 0 0 225691 273250 0 0 273250 0 0 273250 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE FOUNDATION'S FINANCIAL INFORMATION IS INCLUDED IN THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS OF CHICAGO ASSOCIATION OF REALTORS ("CAR"), A RELATED ORGANIZATION. CAR'S FIN 48 (ASC 740) FOOTNOTE FOR THE YEAR ENDED SEPTEMBER 30, 2025, READS AS FOLLOWS: Because of the nature of its primary purpose, CAR has been determined by the Internal Revenue Service to be exempt from federal income tax under the provision of Section 501(c)(6) of the Internal Revenue Code, except to the extent of any unrelated business income. CAR had unrelated business income from advertising revenue and imputed interest in 2025 and 2024. The Foundation is a not-for-profit organization exempt from income tax under Section 501(c)(3) of the Internal Revenue Code. In addition, the Foundation has been determined not to be a "private foundation" within the meaning of Section 509(a) of the Internal Revenue Code. The Foundation had no unrelated business income during the years ended September 30, 2025 and 2024. The tax returns for all Organizations for the last three years are open years for purposes of any future IRS or State of Illinois examinations. true Ada S McKinley Community Services 1359 W Washington Chicago IL 60607 362144820 501(c)(3) 15000 Assist their mission to empower people and strengthen communities Covenant House 2934 W Lake Street Chicago IL 60612 812061485 501(c)(3) 7500 Provide services for youth experiencing homelessness Inner Voice 567 W Lake Street Suite 1150 Chicago IL 60661 363298143 501(c)(3) 7000 support persons experiencing homelessness Mercy Housing 120 S LaSalle Street Suite 1915 Chicago IL 60603 363453183 501(c)(3) 20000 provide affordable housing for seniors, families, and those with special needs North Side Housing & Supportive Services 4410 N Ravenswood Suite 101 Chicago IL 60640 363318158 501(c)(3) 10000 help men & women find permanent solutions to their homelessness Sarah's Circle 4838 N Sheridan Rd Chicago IL 60640 363043662 501(c)(3) 7500 help women who are struggling with homelessness Uptown United 4619 N Broadway Chicago IL 60640 364028056 501(c)(3) 10000 fostering a thriving business environment & strong community Boys & Girls Clubs of Chicago 2950 W 25th Street Chicago IL 60623 362166997 501(c)(3) 7588 2833 FMV Backpacks & school supplies Sponsor back to school carnival 8 0 REALTY EDUCATION SCHOLARSHIPS 49 31280 Other grants 8 40000 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds REPRESENTATIVES OF THE FOUNDATION MAINTAIN CONTACT THROUGHOUT THE YEAR WITH THE EDUCATIONAL OR PHILANTHROPIC INSTITUTIONS WHICH RECEIVE GRANT FUNDS TO ENSURE FUNDS ARE USED FOR THEIR INTENDED PURPOSE. Students must apply for realty scholarship funds under a formal application process; upon approval, students are reimbursed for the cost of the course once proof of course completion and passing are provided, as to ensure funds are used for their intended purpose. false true false false false false false false false Michelle Mills Clement TOP Mgmt Offical & CAR CEO 0 382818 0 85000 0 36046 0 10350 0 30721 0 544935 0 0 Robert Schmidt Top Financial Official & CAR CFO 0 198786 0 20000 0 21661 0 7349 0 7154 0 254950 0 0 Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation Compensation for the Foundation's top management official is paid by the Chicago Association of Realtors (CAR), a related tax-exempt entity. CAR utilized the following methods to establish compensation for the top management official: - Form 990 of other organizations - Compensation survey or study - Approval by the board or compensation committee Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan Michelle Mills Clement (CEO) participated in the 457b plan that was established. She contributed $4,114 in calendar year 2024. Form 990, Part VI, Line 15 COMPENSATION OF TOP MANAGEMENT & FINANCIAL OFFICIALS COMPENSATION FOR THE FOUNDATION'S TOP MANAGEMENT OFFICIAL AND TOP FINANCIAL OFFICIAL IS PAID BY THE CHICAGO ASSOCIATION OF REALTORS, A RELATED TAX-EXEMPT ENTITY. THEREFORE, QUESTIONS 15A AND 15B ARE NOT APPLICABLE AND HAVE BEEN ANSWERED "NO" IN ACCORDANCE WITH THE FORM 990 INSTRUCTIONS. Form 990, Part VI, Line 1a Delegate broad authority to a committee The Board of Trustees may, by resolution adopted by a majority of the elected Board, constitute an Executive Committee for the Board, appoint the members of the Executive Committee, and specify its authority and responsibility. Such a committee shall be comprised of not fewer than three members of the Board of Trustees who shall serve in this capacity at the pleasure of the Board. The Executive Committee shall have such powers and shall perform such duties as the Board may delegate in writing from time to time, including without limitation, the immediate oversight in management of the business affairs of the Foundation. The Executive Committee shall be organized, and shall perform its functions, as directed by the Board, and shall report periodically to the Board. Any action duly taken by the Executive Committee within the course and scope of its authority shall be binding upon the Foundation. The Executive Committee may be abolished at any time by the vote of a majority of the whole Board of Trustees, and during the course of the Committee's existence, its membership may be increased or decreased (provided that the number does not fall below three Trustees). The Board of Trustees may also change the authority and duties of the Committee that the Board deems appropriate. Form 990, Part VI, Line 11b Review of form 990 by governing body PRIOR TO FILING THE RETURN WITH THE IRS, A DRAFT OF THE COMPLETED FORM 990 IS REVIEWED BY THE ORGANIZATION'S MANAGEMENT WITH ITS INDEPENDENT PAID TAX PREPARERS. AFTER THE REVIEW, AN ELECTRONIC COPY OF FORM 990 IS MADE AVAILABLE TO ALL TRUSTEES FOR REVIEW PRIOR TO FILING. TRUSTEES ARE INSTRUCTED TO NOTIFY THE Vice President of Finance OF THE CHICAGO ASSOCIATION OF REALTORS, A RELATED TAX-EXEMPT ENTITY, OF ANY QUESTIONS OR COMMENTS. Form 990, Part VI, Line 12c Conflict of interest policy TRUSTEES ARE REQUIRED TO SIGN A CONFLICT OF INTEREST DISCLOSURE STATEMENT ANNUALLY, IN ACCORDANCE WITH THE ORGANIZATION'S POLICY MANUAL. Trustees' conflict of interest disclosure statements are reviewed by the CEO of the Chicago Association of Realtors, a related tax-exempt entity, to determine whether a potential or actual conflict exists. If an actual conflict is determined to exist, the individual is recused from discussions and voting on matters relating to such conflict. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part VII, Section A, Line 1a Compensation paid by related organization Lutalo McGee, a member of the organization's board of directors, is paid a reasonable stipend by CAR for services provided in his position as an officer of CAR. Per the Form 990 instructions, total compensation paid by CAR is reported in its Form 990, Part VII, Section A, line 1a, columns (D) and (F); additionally, total compensation paid by CAR is also reported in the Form 990 for Chicago Association of Realtors Educational Foundation in Part VII, Section A, line 1a, columns (E) and (F), as compensation paid by a related organization. The time each board member devotes to each respective organization is shown in Form 990, Part VII, Section A, line 1a, column (B). CHICAGO ASSOCIATION OF REALTORS 430 N Michigan Ave Suite 800 CHICAGO IL 60611 360904580 UNITE REAL ESTATE INDUSTRY THROUGH EDUCATION & RESEARCH IL 501(c)(6) NA false CHICAGO ASSOCIATION OF REALTORS BUSINESS INFORMATION SERVICES INC 430 N Michigan Ave Suite 800 CHICAGO IL 60611 474639535 REAL ESTATE INFORMATION SERVICES IL Chicago Association of Realtors C Corporation false false true true false false false false false false false false false true true false true false false false