2024-11-14T11:13:37-06:00 2023-12-31 521259972 LANIGAN RYAN PC 9841 WASHINGTONIAN BLVD SUITE 300 GAITHERSBURG MD 20878 990 2023-01-01 521565478 ASSOCIATION OF FOREIGN INVESTORS IN REAL ESTATE ASSO 2023121400 510 KING STREET 240 ALEXANDRIA VA 22314 GUNNAR BRANSON CHIEF EXECUTIVE OFFICER 2023121400 2024-11-14 1 0 JASON MILLS CPA P01373294 3012588900 2024-11-14 2023 2024-10-15 13:58:12Z GUNNAR BRANSON 510 KING STREET 240 ALEXANDRIA VA 22314 3162219 0 X WWW.AFIRE.ORG X 1988 DC TO PROMOTE GOODWILL AND EDUCATE THE U.S. ABOUT FOREIGN CAPITAL INVESTED IN THE U.S. REAL ESTATE. 49 49 5 0 0 0 0 0 2489650 3105950 2564 42221 30173 14048 2522387 3162219 0 0 0 0 1080214 1322593 0 0 0 1896801 1487841 2977015 2810434 -454628 351785 2138726 3813054 1555793 2879926 582933 933128 X TO PROMOTE GOODWILL AND EDUCATE THE U.S. PUBLIC ABOUT THE BENEFITS OF FOREIGN CAPITAL BEING INVESTED IN THE U.S. REAL ESTATE MARKET. 0 0 THE ASSOCIATION CONDUCTS SEVERAL MEMBERSHIP MEETINGS THROUGHOUT THE YEAR THAT ARE HELD IN THE UNITED STATES, EUROPE, AND ASIA. THE MEETINGS FEATURE SPEAKERS AND OTHER CURRENT MATTERS OF INTEREST AFFECTING INTERNATIONAL REAL ESTATE INVESTMENTS. AFIRE HELD SIX (6) IN-PERSON EVENTS IN 2023 WITH A TOTAL ATTENDANCE OF 835 PEOPLE. AS THE OFFICIAL VOICE OF THE FOREIGN REAL ESTATE INDUSTRY IN THE UNITED STATES, THE ASSOCIATION REPRESENTS THE INTERESTS OF INBOUND INVESTMENT FROM 24 DIFFERENT COUNTRIES. THE ASSOCIATION PROVIDES AN EXCLUSIVE ENVIRONMENT WHERE PRINCIPALS AND SENIOR EXECUTIVES CAN MEET AND EXCHANGE INFORMATION. WE ALSO PROVIDE EXPOSURE TO INFLUENTIAL US POLICY MAKERS AND OPINION LEADERS, UPDATES ON IMPORTANT LEGISLATION AND TAX REGULATIONS, AND INFORMATIVE PUBLICATIONS DEDICATED TO ENSURING THAT THE NON-US INVESTOR IS AS INFORMED AS THE DOMESTIC INVESTOR. THE ASSOCIATION IS GOVERNED SOLELY BY NON-US INVESTOR INSTITUTIONS THROUGH THEIR DESIGNATED DELEGATES AND MANAGED BY A FULL-TIME STAFF IN WASHINGTON, DC. THE ASSOCIATION PROVIDES ACCESS TO THEIR MEMBERS, VIA THE INTERNET, TO THE QUARTERLY PUBLICATION, SUMMIT JOURNAL, FEATURING ARTICLES ON REAL ESTATE INVESTING, MARKET TRENDS, TAX AND LEGAL ISSUES, AND OTHER GERMANE TOPICS. EACH YEAR THE ASSOCIATION PUBLISHES A DIRECTORY OF ITS MEMBERS, WHICH IS AVAILABLE ONLY TO MEMBERS VIA THE MEMBERS ONLY WEBSITE. THE ASSOCIATION HAS 185 CORPORATE MEMBERS, REPRESENTING APPROXIMATELY 700 INDIVIDUALS. 0 0 0 1 0 0 0 0 0 1 1 0 1 1 1 1 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 5 1 0 0 0 0 0 0 0 0 0 0 X 49 49 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X X THE ASSOCIATION 2023121400 510 KING STREET SUITE 240 ALEXANDRIA VA 22314 GUNNAR BRANSON CHIEF EXECUTIVE OFFICER 40.00 X 450000 0 27348 SYLVIA GROSS CHAIR 1.00 X X 0 0 0 STEVEN MCCARTHY DEPUTY CHAIR 1.00 X X 0 0 0 AMY PRICE TREASURER 1.00 X X 0 0 0 MIKE HU CORPORATE SECRETARY 1.00 X X 0 0 0 PETER GREY-WOLF MEMBER-AT-LARGE 1.00 X 0 0 0 MICHEL SCHRAM MEMBER-AT-LARGE 1.00 X 0 0 0 ALEXIA GOTTSCHALCH MEMBER-AT-LARGE 1.00 X 0 0 0 PAUL MEYER GENERAL COUNSEL 1.00 X X 0 0 0 BRYAN SANCHEZ DIRECTOR OF PROGRAMS 1.00 X 0 0 0 JANICE STANTON DIRECTOR OF MEMBERSHIP 1.00 X 0 0 0 BYRON CARLOCK DIRECTOR OF LEGAL & TAX 1.00 X 0 0 0 STEVE COLLINS DIRECTOR OF MEMBER RETENTI 1.00 X 0 0 0 KAREN HORSTMANN PRIOR YEAR CHAIR 1.00 X 0 0 0 ERIC C WURTZEBACH DIRECTOR 0.25 X 0 0 0 NAEL MUSTAFA DIRECTOR 0.25 X 0 0 0 AMY ERIXON DIRECTOR 0.25 X 0 0 0 MJ TURMEL DIRECTOR 0.25 X 0 0 0 AMER HAMMOUR DIRECTOR 0.25 X 0 0 0 BARDO MAGEL DIRECTOR 0.25 X 0 0 0 THOMAS O'SHEA DIRECTOR 0.25 X 0 0 0 BYRON LAMOTTE DIRECTOR 0.25 X 0 0 0 KAI-YAN LEE DIRECTOR 0.25 X 0 0 0 ALEXANDER HEJINK DIRECTOR 0.25 X 0 0 0 CATHERINE PFEIFFENBERGER DIRECTOR 0.25 X 0 0 0 IGNACIO DIEGO DIRECTOR 0.25 X 0 0 0 WILL GIBBY DIRECTOR 0.25 X 0 0 0 RANDY GIRALDO DIRECTOR 0.25 X 0 0 0 IAN BROWNLOW DIRECTOR 0.25 X 0 0 0 BARRY GREEN DIRECTOR 0.25 X 0 0 0 EL ROSENHEIM DIRECTOR 0.25 X 0 0 0 TADATSUGU MATSUTANI DIRECTOR 0.25 X 0 0 0 PETER VIEHE-NAESS DIRECTOR 0.25 X 0 0 0 ALI O ALGHANNAM DIRECTOR 0.25 X 0 0 0 ABDULAZIZ AL-MARZOOQ DIRECTOR 0.25 X 0 0 0 MARWAN ISBAIH DIRECTOR 0.25 X 0 0 0 STEVE HASON DIRECTOR 0.25 X 0 0 0 LARA OSTERHAUS DIRECTOR 0.25 X 0 0 0 JOHN MCCARTHY DIRECTOR 0.25 X 0 0 0 JOAO MADEIRA DE ANDRADE DIRECTOR 0.25 X 0 0 0 GENGHIS HADI DIRECTOR 0.25 X 0 0 0 KRISTIN LEUNG DIRECTOR 0.25 X 0 0 0 RALF WESSEL DIRECTOR 0.25 X 0 0 0 MICHAEL CAMPBELL DIRECTOR 0.25 X 0 0 0 JOHN GELLATY DIRECTOR 0.25 X 0 0 0 RUSSEL APPEL DIRECTOR 0.25 X 0 0 0 MAGGIE COLEMAN DIRECTOR 0.25 X 0 0 0 LILI DUNN DIRECTOR 0.25 X 0 0 0 STANLEY IEZMAN DIRECTOR 0.25 X 0 0 0 RALPH ROSENBERG DIRECTOR 0.25 X 0 0 0 ALEXANDRA MILLER CHIEF OPERATING OFFICER 40.00 X 236400 0 27229 BENJAMIN VAN LOON COMMUNICATIONS DIRECTOR 40.00 X 132120 0 12826 ASMAIT TEWELDE MEETING DIRECTOR 40.00 X 129800 0 12654 948320 0 80057 4 0 1 0 0 MEMBERSHIP DUES AND AS 900099 2112500 2112500 MEETING FEES 900099 541950 541950 SPONSORSHIP 900099 451500 451500 3105950 42221 42221 AFIRE GUIDE SALES 900099 13865 13865 OTHER INCOME 900099 183 183 14048 3162219 3119998 0 42221 966815 264603 11980 21237 57958 92659 12376 31596 39518 35431 946507 11920 8392 ANNUAL INVESTMENT SURVE 83701 PUBLIC RELATIONS 74821 SUMMIT JOURNAL 54518 WEBSITE 36457 59945 2810434 1043160 627175 13014 13579 108425 26550 145093 286761 40558 14999 8876 25559 799131 1900631 12055 5290 8972 927509 2138726 3813054 7931 8169 1408700 1606500 139162 1265257 1555793 2879926 X 582933 933128 582933 933128 2138726 3813054 351785 -1590 0 X X 0 1 X 1 0 0 1 0 4705 405 4300 35853 14594 21259 25559 CERTIFICATES OF DEPOSIT 1900631 F 1900631 DEPOSITS 8972 RIGHT OF USE ASSET 400486 MUTUAL FUND 457F 518051 927509 ACCRUED EXPENSES 319558 DEFERRED COMPENSATION PAYABLE 518051 LEASE LIABILITY 427648 1265257 X 3160629 -1590 -1590 3162219 0 3162219 2810434 0 2810434 0 2810434 PART X, LINE 2: AFIRE HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE ("IRS") TO BE TREATED AS A TAX EXEMPT ENTITY PURSUANT TO SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE (THE "CODE") AND IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE CODE FOR ALL INCOME EXCEPT THAT DERIVED FROM UNRELATED BUSINESS INCOME. AFIRE IS SUBJECT TO UNRELATED BUSINESS INCOME TAX, IF APPLICABLE. AFIRE DID NOT HAVE ANY UNRELATED BUSINESS INCOME DURING 2023 OR 2022. DUE TO ITS TAX EXEMPT STATUS, AFIRE IS REQUIRED TO FILE AND DOES FILE TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. AFIRE HAS IMPLEMENTED FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") INTERPRETATION NO. ("FIN") 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. AS A RESULT, AFIRE DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. INCOME TAX RETURNS FILED BY AFIRE ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2020 REMAIN OPEN. EUROPE 0 0 EDUCATION PROGRAMS AND PARTICIPATION IN TRADE SHOW, MEMBER BRUNCH AND A MEMBER DINNER. PROVIDES FORUM FOR MEMBER NETWORKING AND INFORMATION DISSEMINATION. 129351 0 0 0 0 0 0 129351 0 129351 0 0 0 0 0 0 X 0 1 X 0 1 0 GUNNAR BRANSON CHIEF EXECUTIVE OFFICER 400000 0 50000 0 0 0 11000 0 16348 0 477348 0 0 0 ALEXANDRA MILLER CHIEF OPERATING OFFICER 201400 0 35000 0 0 0 7542 0 19687 0 263629 0 0 0 PART I, LINE 1B THE ASSOCIATION PAYS FOR MINIMUM MONTHLY CHARGES PLUS ANY ADDITIONAL CHARGES INCURRED DUE TO BUSINESS EXPENSES. ANY EXPENDITURES INCURRED BY THE CEO FOR NON-BUSINESS/PERSONAL USE OF THE CLUB, IN EXCESS OF THE MINIMUM MONTHLY REQUIRED CLUB CHARGES, ARE REIMBURSED TO THE ASSOCIATION BY THE CEO. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A TRADE ASSOCIATION WITH MEMBERS WHO PAY MEMBERSHIP DUES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE ORGANIZATION ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION PROVIDES A COMPLETE COPY OF FORM 990 TO ITS GOVERNANCE COMMITTEE BEFORE FILING WITH THE IRS. THE GOVERNANCE COMMITTEE HAS BEEN GRANTED FULL AUTHORITY FROM THE BOARD OF DIRECTORS TO MAKE ANY DECISION, AND DOES IN FACT MAKE DECISIONS, REGARDING THE DAY-TO-DAY OPERATIONS OF THE ASSOCIATION. THE BOARD MEMBERS MAY REQUEST A COPY OF FORM 990 FROM THE TREASURER PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION SENDS AN ANNUAL REQUEST TO EACH BOARD MEMBER ASKING THEM TO AFFIRM THEIR KNOWLEDGE OF AND COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE CEO'S COMPENSATION IS SUBJECT TO AN EMPLOYMENT CONTRACT, WHICH WAS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE ON BEHALF OF THE BOARD OF DIRECTORS. THE COMPENSATION CONTAINED IN THE EMPLOYMENT CONTRACT IS DETERMINED USING BENCHMARKING AND OTHER ANALYSIS PROVIDED BY THE EXECUTIVE SEARCH FIRM THAT ASSISTED IN THE RECRUITMENT OF THE CEO ON BEHALF OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 INFORMATION IS AVAILABLE UPON REQUEST. RESPONSIBILITY FOR AUDITOR ELECTION AND OVERSIGHT THERE IS NO CHANGE FROM 2022. THE EXECUTIVE COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT.