Ocean City Board Of Realtors
- Assets
- $849.2k
- Revenue
- $239.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Ocean City, NJ
- Founding
- Data as of
- 12/2022
- EIN
- 21-0527800
Organization Overview
Ocean City Board Of Realtors is located in Ocean City, NJ. As of 12/2022, Ocean City Board Of Realtors employed 2 individuals. Ocean City Board Of Realtors 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 12/2022, Ocean City Board Of Realtors generated $239.1k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $225.3k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ASSOCIATION PROVIDES MULTIPLE SERVICES TO REAL ESTATE AGENTS IN THE OCEAN CITY, NJ AREA TO ENHANCE THE CONDITIONS AND PRACTICES IN THE REAL ESTATE INDUSTRY IN THE INTEREST OF THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF REAL ESTATE PROFESSION IN OCEAN CITY, NJ AND SURROUNDING COMMUNITIES AND PUBLIC EDUCATION ABOUT BEST PRACTICES AND ETHICAL BEHAVIOR
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Allegretto Director | Trustee | 1 | $0 |
Cynthia Balles Director | Trustee | 1 | $0 |
Kevin Best Director | Trustee | 1 | $0 |
Rob Bond Director | Trustee | 1 | $0 |
Damon Bready Treasurer/se | Trustee | 1 | $0 |
Ken Cooper Director | OfficerTrustee | 1 | $0 |
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 | $232,222 |
| Investment income | $21,046 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$16,612 |
| Net Income from Fundraising Events | $2,431 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $239,087 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $86,662 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,170 |
| Payroll taxes | $7,577 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,000 |
| Fees for services: Accounting | $7,645 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,375 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,410 |
| Information technology | $13,930 |
| Royalties | $0 |
| Occupancy | $18,874 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,090 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,450 |
| Insurance | $3,298 |
| All other expenses | $2,187 |
| Total functional expenses | $225,327 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $325,590 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $26,124 |
| Investments—publicly traded securities | $425,489 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $71,989 |
| Total assets | $849,192 |
| Accounts payable and accrued expenses | $250 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $254,574 |
| Total liabilities | $254,824 |
| Net assets without donor restrictions | $594,368 |
| Net assets with donor restrictions | $0 |
| 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 | $849,192 |