Realsource Association Of Realtors Inc
- Assets
- $2.7m
- Revenue
- $949.0k
- Investments
- $0.0
- Employees
- 6
- Location
- Waldwick, NJ
- Founding
- 05/1996
- Data as of
- 12/2018
- EIN
- 22-3342942
Organization Overview
Realsource Association Of Realtors Inc is located in Waldwick, NJ. The organization was established in 1996. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2018, Realsource Association Of Realtors Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Realsource Association 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 12/2018, Realsource Association Of Realtors Inc generated $949.0k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $904.0k during the year ending 12/2018. While expenses have increased by 0.7% per year over the past 4 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2018
Describe the Organization's Mission:
Part 3 - Line 1
REAL ESTATE BOARD
Describe the Organization's Program Activity:
Part 3 - Line 4a
A: PURPOSE & NATURE: 1. TO PROVIDE A FORUM FOR COMMUNICATION BETWEEN MEMBERS, REAL ESTATE OFFICES AND THE STATE AND NATIONAL ASSOCIATION OF REALTORS. 2. TO PROVIDE CONTINUING PROFESSIONAL EDUCATION FOR MEMBERS (AS AN EXAMPLE-FAIR HOUSING, LAWS OF AGENCY, AND ENVIRONMENTAL ISSUES). 3. TO SERVE THE COMMUNITY BY SPONSORING CHARITABLE PROGRAMS (FOR EXAMPLE-BLOOD DRIVE, FAMILIES IN NEED, HABITAT FOR HUMANITY, DISASTER RELIEF). 4. TO PROVIDE AN ARBITRATION AND MEDIATION PROCESS FOR CONFLICT BETWEEN MEMBERS AND THE PUBLIC. B: FREQUENCY AND DURATION: 1. THE BOARD STAFF, COMMITTEES, AND OFFICERS PUT FORTH AN ONGOING EFFORT TO PROVIDE COMMUNICATION. 2. THE BOARD OFFERS APPROXIMATELY 62 CONTINUING EDUCATION PROGRAMS ANNUALLY. 3. THE BOARD SPONSORS 3 FUND RAISERS FOR FAMILIES IN NEED. 4. ARBITRATION AND MEDIATION IS PROVIDED AS NEEDED BY MEMBERSHIP. THERE WERE 7 CASES ARBITRATED OR MEDIATED IN 2018. C: WHAT THE ACTIVITY HAS ACCOMPLISHED: 1. INCREASED PROFESSIONALISM THROUGH CONTINUING EDUCATION AND COMMUNICATION WITHIN THE PROFESSION. 2. PROVIDED FORUM FOR EXCHANGE OF IDEAS RE: IMPROVING AND PROMOTING THE REAL ESTATE INDUSTRY. 3. PROVIDES FOR ORDERLY RESOLUTION OF DISPUTES BETWEEN MEMBERS. 4. PROVIDES SERVICE TO COMMUNITY THROUGH CHARITABLE ENDEAVORS. 5. PROVIDES UNIFORMITY OF STANDARDS IN THE REAL ESTATE PROFESSION. D: MEMBERSHIP OF APPROXIMATELY 3,539 REALTORS AND REAL ESTATE PROFESSIONALS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Suzan Koren CEO | Officer | 40 | $119,108 |
Susan Teneyck CFO | Officer | 40 | $65,690 |
William F Gilsenan Jr Past Past Pr | Officer | 2 | $0 |
Robert T Funabashi Treasurer | Officer | 4 | $0 |
Frances Blakely Past Preside | Officer | 2 | $0 |
Margaret Ajamian President El | Officer | 5 | $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 | $765,824 |
| Investment income | $54,422 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,775 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$3,382 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $948,954 |
| 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. | $184,798 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $146,896 |
| Pension plan accruals and contributions | $9,930 |
| Other employee benefits | $61,014 |
| Payroll taxes | $31,043 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,090 |
| Fees for services: Accounting | $12,777 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,572 |
| Advertising and promotion | $0 |
| Office expenses | $14,734 |
| Information technology | $11,078 |
| Royalties | $0 |
| Occupancy | $84,729 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $137,615 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,072 |
| Insurance | $0 |
| All other expenses | $76,384 |
| Total functional expenses | $903,986 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $94,224 |
| Savings and temporary cash investments | $1,959,690 |
| 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 | $18,725 |
| Net Land, buildings, and equipment | $62,036 |
| Investments—publicly traded securities | $564,052 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,698,727 |
| Accounts payable and accrued expenses | $99,236 |
| Grants payable | $0 |
| Deferred revenue | $389,070 |
| 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 | $1,000 |
| Total liabilities | $489,306 |
| Unrestricted restricted net Assets | $2,209,421 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $2,209,421 |
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