Reading-Berks Association Of Realtors Inc
- Assets
- $944.5k
- Revenue
- $421.0k
- Investments
- $0.0
- Employees
- 6
- Location
- Wyomissing, PA
- Founding
- 11/1975
- Data as of
- 12/2023
- EIN
- 23-1322057
Organization Overview
Reading-Berks Association Of Realtors Inc is located in Wyomissing, PA. The organization was established in 1975. According to its NTEE Classification (B03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Education and related organizations. As of 12/2023, Reading-Berks 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. Reading-Berks 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 12/2023, Reading-Berks Association Of Realtors Inc generated $421.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (4.7%) each year. All expenses for the organization totaled $490.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROFESSIONAL TRADE ASSOCIATION FOR LICENSED REAL ESTATE PRACTITIONERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION PROMOTES HIGH STANDARDS OF CONDUCT BY MEMBERS, THROUGH ENSURING MEMBERS MEET ESTABLISHED CRITERIA FOR PROFESSIONALISM TO HELP THEIR CLIENTS AND HAVE THE NECESSARY TOOLS TO BE SUCCESSFUL IN THEIR WORK. MEMBERS ARE REQUIRED TO ABIDE BY A CODE OF ETHICS, AND MAINTAIN OTHER STANDARDS TO MAINTAIN REALTOR STATUS. THE ASSOCIATION ALSO CONNECTS LOCAL MEMBERS TO THE STATE AND NATIONAL REALTOR ASSOCIATIONS. SEE ADDITIONAL INFORMATION ON SCHEDULE O.IN 2023, THERE WERE TOTAL OF 1,332 MEMBERS, WITH 1,174 BEING INDIVIDUAL MEMBERS AND 158 MEMBERS SERVING AS REPRESENTATIVES OF LOCAL BUSINESSES. THE ASSOCIATION HOLDS VARIOUS EDUCATIONAL LUNCH AND LEARN AND OTHER PROFESSIONAL DEVELOPMENT SESSIONS THROUGHOUT THE YEAR, PROVIDED FOR FREE TO MEMBERS. A QUARTERLY NEWSLETTER CALLED "PROPERTY LINES" IS PUBLISHED TO EDUCATE AND UPDATE MEMBERS ON REAL ESTATE RELATED ITEMS. THERE ARE NETWORKING EVENTS TO BRING MEMBERS TOGETHER SUCH AS THE HOLIDAY EVENT/ANNUAL MEETING, THE BOARD OF DIRECTORS INSTALLATION EVENT AND GOLF OUTING. THE ASSOCIATION ALSO CONDUCTED MANY COMMUNITY OUTREACH ACTIVITIES IN 2023 TO BENEFIT LOCAL ORGANIZATIONS INCLUDING FOOD DRIVES, PREPARING MEALS ON WHEELS FOR LOCAL SENIORS ON THANKSGIVING, HOLDING A BREAKFAST FOR VETERANS, AND PROVIDING EASTER AND CHRISTMAS GIFTS FOR LOCAL CHILDREN IN NEED. THE SIGNATURE FUNDRAISING EVENT WAS A 5K TO FINANCIALLY BENEFIT NEIGHBORHOOD HOUSING SERVICES AND OUR LOCAL HABITAT FOR HUMANITY ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Merlin Weaver President Thru March | OfficerTrustee | 2 | $0 |
Jason Burkholder President As Of April | OfficerTrustee | 2 | $0 |
Eva Eisenbrown President-Elect | OfficerTrustee | 2 | $0 |
Jenniffer Jimenez Vice President | OfficerTrustee | 1 | $0 |
Antonio Borelli Secretary | OfficerTrustee | 2 | $0 |
Marisol Torres Treasurer | OfficerTrustee | 2 | $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 | $6,245 |
| Noncash contributions included in lines 1a–1f | $6,245 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,245 |
| Total Program Service Revenue | $386,548 |
| Investment income | $11,435 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,800 |
| 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 | $421,028 |
| 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. | $53,681 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $146,293 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,672 |
| Payroll taxes | $16,399 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,979 |
| Fees for services: Accounting | $41,408 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,259 |
| Office expenses | $26,636 |
| Information technology | $27,391 |
| Royalties | $0 |
| Occupancy | $22,629 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $27,380 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,120 |
| Insurance | $1,832 |
| All other expenses | $1,000 |
| Total functional expenses | $490,631 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,672 |
| Savings and temporary cash investments | $505,881 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,205 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $260,421 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,191 |
| Net Land, buildings, and equipment | $133,269 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $864 |
| Total assets | $944,503 |
| Accounts payable and accrued expenses | $37,713 |
| Grants payable | $7,140 |
| Deferred revenue | $124,382 |
| 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 | $1,930 |
| Total liabilities | $171,165 |
| Net assets without donor restrictions | $773,338 |
| 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 | $944,503 |