Real Estate Board Of New York Inc

Organization Overview

Real Estate Board Of New York Inc is located in New York, NY. The organization was established in 1934. 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, Real Estate Board Of New York Inc employed 60 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Real Estate Board Of New York 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, Real Estate Board Of New York Inc generated $14.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $13.5m during the year ending 12/2021. While expenses have increased by 0.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

1. TO UNITE IN COMMON ORGANIZATION THOSE PROFESSIONALLY ENGAGED IN REAL ESTATE. 2. TO PROTECT AND PROMOTE THE MUTUAL INTERESTS OF ITS MEMBERS. 3. TO FORMULATE AND MAINTAIN ETHICAL STANDARDS FOR THE GUIDANCE OF ITS MEMBERS IN THEIR RELATIONS WITH EACH OTHER AND THE PUBLIC. 4. TO ADVOCATE NECESSARY PUBLIC IMPROVEMENTS AND OPPOSE UNNECESSARY OR WASTEFUL EXPENDITURES OF PUBLIC FUNDS. 5. TO PROMOTE AND ENCOURAGE THE ENACTMENT OF JUST AND REASONABLE LAWS AND ORDINANCES AFFECTING REAL ESTATE AND TO OPPOSE THOSE THAT WOULD BE UNJUST AND UNREASONABLE. 6. TO SUPPLY MEMBERS WITH INFORMATION THEY NEED TO MAKE SOUND BUSINESS DECISIONS. 7. TO HELP REAL ESTATE PROFESSIONALS MEET STATE GOVERMENT LICENSING STANDARDS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

REBNY WAS CREATED IN 1896 AS THE STATES FIRST REAL ESTATE TRADE ASSOCIATION. IT WORKS ON BEHALF OF THE MUTUAL INTERESTS OF ITS MEMBERS BY PROMOTING PUBLIC AND INDUSTRY POLICIES. THE ORGANIZATION FREQUENTLY SPEAKS BEFORE GOVERNMENT BODIES WITH THE PRIMARY GOALS OF EXPANDING NEW YORKS ECONOMY, ENCOURAGING THE DEVELOPMENT AND RENOVATION OF COMMERCIAL AND RESIDENTIAL PROPERTY, ENHANCING THE CITYS APPEAL TO INVESTORS AND RESIDENTS AND FACILITATING PROPERTY MANAGEMENT. MEMBERS HAVE ACCESS TO THE BOARDS VARIOUS REAL ESTATE PROFESSIONAL EDUCATION PROGRAMS, INCLUDING STATE-CERTIFIED REQUIRED COURSES FOR LICENSING, CONTINUING EDUCATION COURSES AND SEMINARS TO HONE PROFESSIONAL SKILLS, AND COURSES TO MAINTAIN THE ETHICAL STANDARDS OF RELATIONS BETWEEN PROFESSIONALS AND WITH THE PUBLIC. THE POLICY & PLANNING DEPARTMENT, ALSO AT MEMBERS DISPOSAL, UNDERTAKES PROJECTS TO INVESTIGATE CURRENT RESIDENTIAL AND COMMERCIAL ISSUES OF IMPORTANCE TO THE INDUSTRY; TOPICS HAVE INCLUDED RESIDENTIAL CONVERSION TRENDS AND ENERGY CONSERVATION TECHNIQUES IN HIGH-RISE OFFICE BUILDINGS. A ZONING EXPERT IS ALSO ON HAND TO FIELD A WIDE RANGE OF INQUIRIES. THIS DEPARTMENT PUBLISHES A NUMBER OF IMPORTANT PERIODICALS. REBNYS SEYMOUR B. DURST LIBRARY, LOCATED AT THE MIDTOWN OFFICE, MAINTAINS THE LARGEST COLLECTION OF REAL ESTATE-RELATED INFORMATION OF ANY NEW YORK CITY TRADE ASSOCIATION. ASIDE FROM SCORES OF PROFESSIONAL JOURNALS, PERIODICALS AND REPORTS ON INDUSTRY TOPICS, IT CONTAINS UP-TO-DATE COMPUTERIZED OWNERSHIP AND MORTGAGE INFORMATION FILES ON PROPERTIES IN ALL FIVE BOROUGHS, AS WELL AS ASSESSED VALUATION LISTINGS AND CURRENT PROPERTY MAPS. THE BOARD PROVIDES ARBITRATION AND MEDIATION SERVICES WHEN NECESSARY TO SETTLE DISPUTES WHETHER BETWEEN MEMBERS, BETWEEN MEMBERS AND THEIR FIRMS OR BETWEEN MEMBERS AND NON-MEMBERS. A QUALIFIED ARBITRATOR OR MEDIATOR THAT IS ACCEPTABLE TO BOTH PARTIES WILL HANDLE A PARTICULAR MATTER. ONCE THE PARTIES REACH AN AGREEMENT, IT IS PUT IN WRITING. SHOULD AN AGREEMENT NOT OCCUR, THE PARTIES MAY SUBMIT TO BINDING ARBITRATION. THE REBNY LISTING SERVICE (RLS) IS A SHARING OF LISTINGS AVAILABLE TO ALL REBNY FIRMS THAT ARE MEMBERS OF THE RESIDENTIAL BROKERAGE DIVISION AND NON-MEMBER FIRMS THAT RECEIVE REVENUE FROM THE SALE OR RENTAL OF RESIDENTIAL PROPERTY LOCATED IN THE JURISDICTIONS AUTHORIZED BY THE RESIDENTIAL BOARD OF DIRECTORS. THIS SYSTEM MANDATES THAT WITHIN 24 HOURS OF BEING ENGAGED AS AN EXCLUSIVE AGENT, EVERY RLS MEMBER MUST INITIATE AN OFFER OF CO-BROKERAGE OF ALL EXCLUSIVE SALE OR RENTAL LISTINGS LOCATED IN THE SAID JURISDICTIONS TO EVERY OTHER MEMBER OF THE RLS SYSTEM WHO HAS EXPRESSED IN WRITING AN INTEREST IN RECEIVING SUCH LISTINGS, UNLESS DIRECTED NOT TO DO SO BY THE SELLER.


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Board, Officers & Key Employees

Name (title)Compensation
Steven Spinola
Past Preside
$1,425,724
James Whelan
President
$806,842
William Auerbach
Former CFO
$526,616
Sandhya Espitia
COO
$390,282
Reggie Thomas
SVP
$318,303
Ninve James
SVP
$288,881

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Stroock & Stroock & Lavan Llp
Legal Services
$1,003,000
Patterson Belknap Webb & Tyler Llp
Legal Services
$300,000
Modus Associates Llc
It Consulting
$280,432
Civic Entertainment Group Llc
Consulting
$274,500
Greenberg Traurig
Consulting
$235,310
View All Vendors

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$405,000
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$405,000
Total Program Service Revenue$13,628,575
Investment income $81,273
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $91,743
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $14,285,773

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Real Estate Board Of New York Inc has recieved totaling $10,000.

Awarding OrganizationAmount
Service Employees International Local

New York, NY

PURPOSE: GENERAL SUPPORT

$10,000
View Grant Recipient Profile

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