Long Island Board Of Realtors Inc
- Assets
- $32.8m
- Revenue
- $7.9m
- Investments
- $12.1m
- Employees
- 79
- Location
- West Babylon, NY
- Founding
- 08/1943
- Data as of
- 12/2021
- EIN
- 11-1020780
Organization Overview
Long Island Board Of Realtors Inc is located in West Babylon, NY. The organization was established in 1943. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Long Island Board Of Realtors Inc employed 79 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Long Island Board Of Realtors Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Long Island Board Of Realtors Inc generated $7.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.2%) each year. All expenses for the organization totaled $6.7m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (9.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE HIGH ETHICAL STANDARDS AND MEMBER SUCCESS THROUGH INNOVATIVE SERVICES, PROACTIVE ADVOCACY, QUALITY EDUCATION AND PROTECTION OF PRIVATE PROPERTY RIGHTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION: TO PROVIDE EDUCATIONAL OPPORTUNITIES FOR ALL MEMBERS TO HELP FURTHER THEIR CAREERS. IE. LICENSING, MANDATORY CONTINUING EDUCATION, SKILL DEVELOPMENT, ETC. LIBOR OFFERS LEADERSHIP MEETINGS, FAIR HOUSING COURSES, ACCREDITED BUYER REPRESENTATIVE COURSES, NAR DESIGNATION COURSES AND ONLINE COURSES AND WEBINARS. THERE WERE 25,394 REGISTRATIONS FOR LIBOR ZOOM/LIVE DISTANCE EDUCATION COURSES AND 15,908 REGISTRATIONS FOR ONLINE COURSES. THERE WERE 352 ZOOM EDUCATION COURSES OFFERED.EDUCATION CONFERENCE: THE VIRTUAL MORNINGS OF LEARNING, WHICH TOOK THE PLACE OF THE EDUCATION CONFERENCE DUE TO COVID, WAS MOVED TO JANUARY 2022. NO CONFERENCE WAS HELD IN 2021.
REALTOR STORE: TO PROVIDE SUPPLIES, PRODUCTS, SALES AND MARKETING TOOLS TO ALL MEMBERS TO PROMOTE REAL ESTATE ACTIVITY. 382 MEMBERS PURCHASED PRODUCTS THROUGH THE REALTOR STORE. THERE ARE APPROXIMATELY 45 SUPPLIES AND FORMS AVAILABLE FOR SALE.
PSC (PROFESSIONAL STANDARDS COMMITTEE) GRIEVANCE PROCEDURES: TO PROVIDE A COMMITTEE OF PEERS IN WHICH ALL MEMBERS MAY TURN TO FOR FAIR AND PROPER INVESTIGATION OF POSSIBLE ETHICS VIOLATIONS AS WELL AS ARBITRATION, MEDIATION, AND OMBUDSMAN SERVICES.THE TOTAL NUMBER OF MEMBERS WHO PARTICIPATED IN THE ARBITRATION OR ETHIC COMPLAINT PROCESS, INCLUDING GRIEVANCE AND MEDIATION, DURING THE YEAR WAS 580.
LEGAL HELP LINE - TO REFER MEMBERS TO THE FREE NYSAR LEGAL HELPLINE TO PROVIDE ACCESS TO LEGAL COUNSEL TO ALL MEMBERS, WHICH WILL PROVIDE GENERAL ANSWERS TO THEIR REAL ESTATE QUESTIONS BY NYSAR LEGAL COUNSEL.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tessa Hultz CEO | Officer | 20 | $259,214 |
Patrick Fife Associate General Counsel | 40 | $149,840 | |
Mary Ann Monteleone VP Of Professional Development | 40 | $142,604 | |
Doreen Spagnuolo General Counsel | Officer | 20 | $136,575 |
Kathleen Kennedy VP Of Accounting & Finance | Officer | 20 | $80,409 |
Leigh Goldblatt Network Admin/techn/helpdesk | 8 | $28,008 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sentrilock Lockbox & Photo Id Provider | 12/30/21 | $573,579 |
Tarter Krinsky & Drogin Llp Legal Fees | 12/30/21 | $183,648 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $7,588,237 |
| Investment income | $65,929 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,922,994 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $65,188 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $476,198 |
| Compensation of current officers, directors, key employees. | $476,198 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,552,797 |
| Pension plan accruals and contributions | $187,272 |
| Other employee benefits | $370,003 |
| Payroll taxes | $245,550 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $60,139 |
| Fees for services: Accounting | $45,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $49,016 |
| Advertising and promotion | $70,338 |
| Office expenses | $38,348 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $617,316 |
| Travel | $30,554 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $49,212 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $113,209 |
| Insurance | $33,115 |
| All other expenses | $232,635 |
| Total functional expenses | $6,747,991 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $839,879 |
| Savings and temporary cash investments | $12,932,843 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $124,571 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $196,039 |
| Net Land, buildings, and equipment | $809,512 |
| Investments—publicly traded securities | $2,015,865 |
| Investments—other securities | $12,131,987 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,773,984 |
| Total assets | $32,824,680 |
| Accounts payable and accrued expenses | $951,927 |
| Grants payable | $0 |
| Deferred revenue | $5,002,906 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $68,585 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,636,384 |
| Total liabilities | $9,659,802 |
| Net assets without donor restrictions | $22,567,669 |
| Net assets with donor restrictions | $597,209 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $32,824,680 |
Grants Awarded
Over the last fiscal year, Long Island Board Of Realtors Inc has awarded $40,187 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ROCKAWAY BREWING COMPANY LLC PURPOSE: TO BUILD AND COMPLETE A STREET SEAT IN ACCORDANCE TO NAR GRANT REQUIREMENTS IN QUEENS | $19,968 |
TOWN OF BABYLON PURPOSE: TO BUILD AND COMPLETE A COMMUNITY GARDEN IN ACCORDANCE TO NAR GRANT REQUIREMENTS IN WYANDANCH | $13,326 |
SUFFOLK COUNTY NY PURPOSE: TO CREATE A BIKE REPAIR STATION THAT THE PUBLIC CAN ACCESS IN ACCORDANCE TO NAR MEGA GRANT GUIDELINES. | $6,893 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Real Estate Board Of New York Inc New York, NY | $13,608,943 | $14,285,773 |
Philadelphia Convention & Visitors Bureau Of The Chamber Of Commerce Philadelphia, PA | $21,636,489 | $20,955,897 |
The Chamber Of Commerce For Greater Philadelphia Philadelphia, PA | $17,253,411 | $11,743,354 |
United States Council For International Business New York, NY | $8,377,861 | $9,810,410 |
New Jersey Association Of Realtors Trenton, NJ | $35,262,029 | $9,547,353 |
Long Island Board Of Realtors Inc West Babylon, NY | $32,824,680 | $7,922,994 |
German American Chamber Of Commerce Inc New York, NY | $3,820,432 | $6,890,973 |
Buffalo Niagara Convention & Vistors Bureau Inc Buffalo, NY | $3,394,435 | $6,164,269 |
Lake Placid Chamber Of Commerce Inc Lake Placid, NY | $4,857,333 | $6,938,582 |
Economic Development Council Of Western Massachusetts Inc Springfield, MA | $1,229,213 | $5,047,431 |
Independent Drivers Guild Inc Long Island City, NY | $5,104,857 | $7,835,962 |
Greater Lehigh Valley Chamber Of Commerce Easton, PA | $3,461,943 | $5,381,256 |