Arkansas Realtors Association
- Assets
- $7.4m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 7
- Location
- Little Rock, AR
- Founding
- 01/1969
- Data as of
- 12/2022
- EIN
- 23-7000743
Organization Overview
Arkansas Realtors Association is located in Little Rock, AR. The organization was established in 1969. 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 12/2022, Arkansas Realtors Association employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arkansas Realtors Association 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, Arkansas Realtors Association generated $2.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 5.2% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TRADE ASSOCIATION ORGANIZED FOR REALTORS DOING BUSINESS IN THE STATE OF ARKANSAS. THE ASSOCIATION WAS ESTABLISHED TO PROMOTE THE REAL ESTATE INDUSTRY IN GENERAL AND TO PROVIDE EDUCATIONAL ENRICHMENT AND RISK REDUCTION FOR ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION HAS PRODUCED STANDARDIZED INDUSTRY FORMS AND SOFTWARE FOR ITS MEMBERSHIP. THE PRIMARY PURPOSE IS RISK (LIABILITY) REDUCTION. THE FORMS AND SOFTWARE ARE AVAILABLE FOR SALE ONLY TO LICENSED REAL ESTATE BROKERS AND AGENTS. ELECTRONIC FORMS ARE AVAILABLE ONLY TO REALTORS WHO ARE MEMBERS OF THE ASSOCIATION. PAPER FORMS ARE AVAILABLE TO MEMBERS AND NON-MEMBERS.
THE ASSOCIATION SPONSORS AN ANNUAL CONVENTION FOR ITS MEMBERS. THE CONVENTION INCLUDES SPEAKERS, EDUCATION SEMINARS, TABLE-TOP EXHIBITS, AND A GENERAL EXCHANGE OF IDEAS. APPROXIMATELY 422 PERSONS ATTENDED THE 2022 CONVENTION.
MEMBER PROJECTS PRIMARILY REPRESENTS THE ANNUAL "AWARDS FOR EXCELLENCE" PROGRAM WHICH RECOGNIZES REALTOR MEMBERS MEETING CERTAIN SALES STANDARDS IN THE PRIOR YEAR. APPROXIMATELY 1,520 MEMBER REALTORS WERE RECOGNIZED WITH AWARDS FOR EXCELLENCE. MEMBER PROJECTS ALSO INCLUDES THE ASSOCIATION'S ANNUAL SPONSORSHIP OF FUND-RAISING CAMPAIGNS BENEFITTING THE ARKANSAS SPECIAL OLYMPICS AND HEARTS & HOMES, INC. OTHER MEMBER PROJECTS INCLUDE PROMOTION AND ADVANCEMENT OF PROFESSIONAL STANDARDS AND CONTINUING PUBLIC RELATIONS CAMPAIGNS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara M Bass C E O | Officer | 50 | $141,732 |
Kim Ashcraft C F O | Officer | 50 | $118,395 |
Chris Polychron Director | Trustee | 2 | $0 |
Margaret Bell Director | Trustee | 2 | $0 |
Melanie Silvey Director | Trustee | 2 | $0 |
Phillip Jones Director | Trustee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,224,055 |
| Investment income | $48,395 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $575 |
| Net Gain/Loss on Asset Sales | -$63,906 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $353,502 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,563,325 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $143,678 |
| 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. | $260,127 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $259,440 |
| Pension plan accruals and contributions | $14,719 |
| Other employee benefits | $61,671 |
| Payroll taxes | $38,207 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,635 |
| Fees for services: Accounting | $15,835 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,176 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $24,127 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $73,656 |
| Travel | $202,366 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $71,187 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $92,023 |
| Insurance | $15,724 |
| All other expenses | $128,605 |
| Total functional expenses | $2,016,766 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $286,796 |
| Savings and temporary cash investments | $3,462,712 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,005 |
| 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 | $190,617 |
| Net Land, buildings, and equipment | $1,613,128 |
| Investments—publicly traded securities | $1,855,311 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $35,573 |
| Other assets | $0 |
| Total assets | $7,449,142 |
| Accounts payable and accrued expenses | $8,554 |
| Grants payable | $0 |
| Deferred revenue | $701,085 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,057 |
| 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 | $36,878 |
| Total liabilities | $747,574 |
| Net assets without donor restrictions | $6,701,568 |
| 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 | $7,449,142 |
Grants Awarded
Over the last fiscal year, Arkansas Realtors Association has awarded $141,582 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
REALTORS RELIEF FOUNDATION PURPOSE: DISASTER RELIEF DONATION | $121,000 |
SPECIAL OLYMPICS ARKANSAS PURPOSE: UNRESTRICTED DONATION | $20,582 |