PENSION REAL ESTATE ASSOCIATION (EIN 133120995) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1983

Legal Domicile

Principal Officer

GAIL HAYNES

Phone

8606926341

Tax Period

2023-01-01 to 2023-12-31

PENSION REAL ESTATE ASSOCIATION, founded in 1983, is a community nonprofit that reported $8.2M in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.6M, a strong 32% operating margin.

Mission

PREA'S MISSION IS TO SERVE ITS MEMBERS ENGAGED IN INSTITUTIONAL REAL ESTATE INVESTMENT

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $7,630,542

Investment Income $306,525

Other Revenue $296,750

TOTAL REVENUE $8,233,817

Expense Breakdown

Grants Paid $140,919

Salaries & Benefits $2,071,632

Fundraising Expenses $0

Other Expenses $3,405,875

TOTAL EXPENSES $5,618,426

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,233,817	$6,788,570	+0.2%
Expenses	$5,618,426	$6,603,306	-0.1%
Net Income	$2,615,391	$185,264	+13.1%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$778,779

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GAIL C HAYNES	PRESIDENT	40.00	Officer	$728,381	$50,398	$778,779
GREGORY H MACKINNON	DIRECTOR-RESEARCH	40.00	Highest	$330,908	$73,878	$404,786
JACK R NOWAKOWSKI	DIRECTOR-INFORMATION	40.00	Highest	$231,239	$26,084	$257,323
AMY LAFFARGUE	DIRECTOR- MEETINGS & EVENTS	40.00	Highest	$206,000	$51,500	$257,500
JARED CHASE	STAFF WRITER & EDITOR	40.00	Highest	$101,506	$18,480	$119,986
JENNIFER BLANCHARD	FINANCIAL CONTROLLER	40.00	Highest	$110,000	$8,207	$118,207
MANUEL CASAGNA	CHAIR	0.50	Officer Director	$0	$0	$0
CATHERINE MARCUS	IMMEDIATE PAST CHAIR	0.50	Officer Director	$0	$0	$0
GADI KAUFMANN	TREASURER	0.50	Officer Director	$0	$0	$0
SALLY HASKINS	SECRETARY	0.50	Officer Director	$0	$0	$0
ADAM GALLISTEL	DIRECTOR	0.50	Director	$0	$0	$0
ANAR CHUDGAR	VICE CHAIR	0.50	Director	$0	$0	$0
CHRISTOPHER MERRIL	DIRECTOR	0.50	Director	$0	$0	$0
CHRISTY FIELDS	DIRECTOR	0.50	Director	$0	$0	$0
CIA BUCKLEY MARAKOVITS	DIRECTOR	0.50	Director	$0	$0	$0
DENNIS LOPEZ	DIRECTOR	0.50	Director	$0	$0	$0
DHVANI SHAH	DIRECTOR	0.50	Director	$0	$0	$0
ANDREW IERARDI	DIRECTOR	0.50	Director	$0	$0	$0
LAWRENCE J HASS	DIRECTOR	0.50	Director	$0	$0	$0
BARBARA JESUELE	DIRECTOR	0.50	Director	$0	$0	$0
ISABELLE MARTIN	DIRECTOR	0.50	Director	$0	$0	$0
JENNIFER STEVENS	DIRECTOR	0.50	Director	$0	$0	$0
KIMBERLY ADAMS	DIRECTOR	0.50	Director	$0	$0	$0
W JEFFREY BECKHAM	DIRECTOR	0.50	Director	$0	$0	$0
JEFFREY GILLER	DIRECTOR	0.50	Director	$0	$0	$0
JOHN GLUSZAK	DIRECTOR	0.50	Director	$0	$0	$0
DANITA JOHNSON	DIRECTOR	0.50	Director	$0	$0	$0
ADAM SCHWARTZ	DIRECTOR	0.50	Director	$0	$0	$0
RALPH ROSENBERG	DIRECTOR (THRU 03/23)	0.50	Director	$0	$0	$0
SONNY KALSI	IMMEDIATE PAST CHAIR (THRU 3/23)	0.50	Director	$0	$0	$0
ANTHONY BREAULT	DIRECTOR (THRU 03/23)	0.50	Director	$0	$0	$0
DAVID GILLAN	DIRECTOR (THRU 03/23)	0.50	Director	$0	$0	$0
PETER BRAFFMAN	DIRECTOR (THRU 03/23)	0.50	Director	$0	$0	$0
SPENCER HABER	DIRECTOR (THRU 03/23)	0.50	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$8,233,817	$5,618,426	$10,336,369	$2,615,391
2022	$6,788,570	$6,603,306	$7,541,887	$185,264
2021	$4,410,849	$4,080,001	$6,735,705	$330,848
2020	$4,002,682	$4,240,029	$6,261,990	$-237,347
2019	$5,396,235	$5,657,398	$6,771,728	$-261,163
2018	$4,914,569	$4,875,418	$6,737,634	$39,151

PENSION REAL ESTATE ASSOCIATION