Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| Form 990, Part VI, Line 15b PROCESS USED TO ESTABLISH COMPENSATION OF OTHER OFFICERS/KEY EMPLOYEES | THE ORGANIZATION DOES NOT HAVE ANY OTHER OFFICERS OR KEY EMPLOYEES PER THE IRS' DEFINITION. THEREFORE, THIS QUESTION IS NOT APPLICABLE AND, IN ACCORDANCE WITH THE INSTRUCTIONS, HAS BEEN CHECKED "NO". |
| Form 990, Part VI, Line 1a Delegate broad authority to a committee | The Executive Committee shall consist of the President, President-Elect, First Vice President, and Immediate Past President. In addition, the Chief Executive Officer serves as an ex-officio, non-voting member. The Executive Committee shall conduct the affairs of the Institute in accordance with the policies and instructions of the Board of Directors and subject to their approval. Except as to actions specifically stated herein to require approval of or to be taken by the Board of Directors, the Executive Committee shall have all the power of the Board of Directors between meetings of Board. Where the Board of Directors has adopted a policy or issued instructions with reference to any matter, the actions of the Executive Committee shall be in conformity with such policy or instructions. The Executive Committee shall also have the authority to amend the budget approved by the Board of Directors for the current fiscal year by up to a ten percent (10%) variation of the total budgeted expenditures for that fiscal year. All such actions and resulting adjustments to be budget shall be reported to the Board. |
| Form 990, Part VI, Line 6 Classes of members or stockholders | Pursuant to the organization's governing documents, the Real Estate Business Institute (REBI) has members who may participate in the organization's governance. Classes of members consist of the following: Designated Member, Non-Designee Member, Emeritus Member, International / Global Electronic Member (GEM), and Candidate Member. Any designated members of REBI that is also a member in good standing with the National Association of Realtors shall be entitled to one vote on each matter submitted to a vote of the eligible voting membership. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body | The form 990 is reviewed in detail by the organization's CEO. Subsequent to this review, the Form 990 is distributed to the organization's full board of directors for their review prior to filing with the IRS. |
| Form 990, Part VI, Line 12c Conflict of interest policy | THE ORGANIZATION REQUIRES THAT A SIGNED AND DATED COPY OF THE "CONFLICT OF INTEREST POLICY" BE SUBMITTED BY EACH MEMBER OF THE BOARD OF DIRECTORS AND KEY STAFF PRIOR TO the FIRST BOARD MEETING OF THE YEAR. The completed conflict of interest submissions are reviewed by the organization's executive committee. If it is determined that an actual or potential conflict of interest exists, the organization takes the necessary steps to ensure appropriate restrictions are imposed on persons with a conflict. If the applicable Executive Committee, or the Board of Directors of the Real Estate Business Institute, identifies an actual, potential, or apparent conflict of interest, it may take one of the following actions to resolve such conflict: Waive the conflict of interest as unlikely to affect the director's, officer's, committee member's, or key employee's ability to act in the best interests of the organization; Determine that the individual director, officer, or committee member should be recused from all deliberation and decision-making related to the particular transaction or relationship that gives rise to the conflict of interest. This course of action should apply particularly when the transaction or relationship is one which presents a conflict only with respect to one or two discrete programs or activities; or Determine that the individual director, officer or committee member must resign from his or her service to the Real Estate Business Institute. This course of action should apply when the conflict of interest is so pervasive that the director or officer would likely seldom, if ever, be able to act solely in the best interests of the organization. The Board of Directors of the Real Estate Business Institute reserves final authority over the resolution of all conflicts of interest involving a director, officer, or committee member of the Real Estate Business Institute. The Board of Directors may overrule any decision of the Executive Committee with regards to any actual, potential, or apparent conflict of interest, and the Executive Committee may refer any such matter to the Board of Directors at any time. |
| Form 990, Part VI, Line 15a Process to establish compensation of top management official | THE EXECUTIVE COMMITTEE CONDUCTS An ANNUAL REVIEW of the compensation package of the organization's top management official and DETERMINES COMPENSATION THAT IS CONSISTENT WITH THE TERMS OF THE top management official's EMPLOYMENT AGREEMENT. In determining the compensation package and any adjustments there to, for the top management official, the executive committee utilizes comparability data from benchmarks obtained from an organization representing association executives and leading trade associations. The process for reviewing and determining compensation of the organization's top management official is documented in the minutes of the executive committee meeting on a timely basis. |
| Form 990, Part VI, Line 19 Required documents available to the public | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE ON ITS WEBSITE. THE ORGANIZATION'S FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| Software ID: | 22016089 |
| Software Version: | 2022v5.0 |