Indiana Association Of Realtors Inc is located in Indianapolis, IN. The organization was established in 1945. 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, Indiana Association Of Realtors Inc employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indiana 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 12/2022, Indiana Association Of Realtors Inc generated $6.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $5.5m during the year ending 12/2022. While expenses have increased by 2.0% 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
PROVIDING LEADERSHIP PROGRAMS AND SERVICES TO SUSTAIN A HEALTHY REAL ESTATE MARKET IN INDIANA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEADERSHIP - MONIES IN THIS FUND FACILITATE MEMBER LEADERSHIP AND GOVERNANCE. SPECIFIC EXPENSES INCLUDE, BUT ARE NOT LIMITED TO PROFESSIONAL MEMBERSHIPS, TRAVEL TO AND PARTICIPATION IN NATIONAL ASSOCIATION EVENTS, REALTOR OF THE YEAR BANQUET, PRESIDENT'S INAUGURAL BALL, FALL AND WINTER LEGISLATIVE CONFERENCES, LEADERSHIP SUMMITS, STATE BOARD OF DIRECTORS AND EXECUTIVE COMMITTEE MEETINGS, LOCAL BOARD OUTREACH PROGRAMS, STRATEGIC PLANNING AND THE INDIANA REALTOR LEADERSHIP ACADEMY, A PROGRAM TO FOSTER FUTURE LEADER DEVELOPMENT.
RPAC SUPPORT - THESE FUNDS SUPPORT THE INDIANA REALTORS POLITICAL ACTION COMMITTEE (RPAC) INCLUDING OFFICE SPACE AND STAFFING.REALTORS DEFENSE FUND - THE REALTORS DEFENSE FUND IS AN ONGOING COORDINATED SET OF POLITICAL PROGRAMS TO EDUCATE MEMBERS, THE PUBLIC, ELECTED OFFICIALS, AND MEDIA. IT INCLUDES GRASSROOTS AND BROKER INVOLVEMENT PROGRAMS, RESEARCH, CONSUMER CAMPAIGNS AND ISSUE ADVOCACY. DIRECT CANDIDATE SUPPORT IS STRICTLY PROHIBITED BY POLICY. BY UTILIZING VISIBLE, ACTIVE ADVOCACY ON THE VALUE OF HOMEOWNERSHIP AND THE CHALLENGES OF THE COMMERCIAL MARKET AND LEVERAGING THE UNIQUE STRENGTH OF OUR INDUSTRY-GRASSROOTS CAPACITY, THE DEFENSE FUND WILL PROVIDE REGULAR, HIGH-PROFILE COMMUNICATION OF POSITIVE SOLUTIONS TO REAL ESTATE INDUSTRY PROBLEMS.DATA ANALYTICS- EXPENSES SUPPORT THE INDIANA BUSINESS RESEARCH CENTER AT INDIANA UNIVERSITY AND THE INDIANA ECONOMIC DIGEST, A WEB-BASED COMPILATION OF TOP ECONOMIC NEWS FROM AROUND THE STATE AND COUNTRY THAT MEMBERS AND THE PUBLIC CAN FREELY SEARCH BY TOPIC, REGION OR COUNTY. MONIES IN THIS FUND ALSO SUPPORT STATE, REGIONAL, AND LOCAL ECONOMIC AND COMMUNITY DEVELOPMENT EFFORTS IN PARTNERSHIP WITH STATE AND REGIONAL AGENCIES AND ACADEMIC INSTITUTIONS. MONIES ALSO SUPPORT THE INDIANA REAL ESTATE MARKETS REPORT AND COMPREHENSIVE STATEWIDE DATA WAREHOUSE OF MULTIPLE LISTING SERVICE (MLS) AND BROKER LISTING COOPERATIVE (BLC) INFORMATION. THROUGH MID-YEAR 2022, MONIES ALSO FUNDED THE STATEWIDE REALIST PRODUCT, WHICH PROVIDES TAX AND OTHER PUBLIC RECORDS DATA TO THE MLSS AND BLCS ACROSS THE STATE, HOWEVER THIS PROGRAM WAS TERMINATED DURING 2022.COMMUNICATIONS - THESE MONIES SUPPORT ALL ASSOCIATION COMMUNICATIONS ACTIVITIES THROUGH THE WIDE VARIETY OF CHANNELS INCLUDING, BUT NOT LIMITED TO, EMAIL, TEXT CLUB, INDIANAREALTORS.COM, SOCIAL MEDIA, ADVERTISING, MEETINGS, AND GRAPHIC DESIGN. REGULAR, PERIODIC PUBLICATION PRODUCTS SUCH AS INSIDE IAR, CAPITOL & MARKET, AND MANAGING BROKER ADVISORY HELP TO KEEP OUR MEMBERS UP TO DATE ON THE LATEST ISSUES INVOLVING THE REAL ESTATE INDUSTRY. EDUCATION - THE ASSOCIATION CONDUCTS EDUCATION ACTIVITIES USING A DBA: REAL ESTATE CERTIFICATION PROGRAM (RECP). RECP'S PURPOSE IS TO PROVIDE QUALITY AND ACCESSIBLE REAL ESTATE EDUCATION FOR REAL ESTATE PROFESSIONALS IN INDIANA. EDUCATING NEW BROKERS AND KEEPING EXISTING REALTORS CURRENT IS WHAT WE DO. RECP MAKES IT EASY TO BEGIN A CAREER IN REAL ESTATE BY OFFERING A PRELICENSE COURSE IN MANY FORMATS, INCLUDING ONDEMAND, VIRTUAL, LIVE AND LIVE/ONLINE HYBRID CLASSES. THE SCHOOL ALSO KEEPS OUR MEMBERS CURRENT BY OFFERING THE ANNUAL STATE-REQUIRED CONTINUING EDUCATION ONDEMAND AS A NO-COST MEMBER BENEFIT. FINALLY, IF YOU WANT TO TAKE YOUR REAL ESTATE CAREER TO THE NEXT LEVEL, RECP OFFERS TRAINING TO BECOME A MANAGING BROKER, SPECIALTY DESIGNATION, AND CERTIFICATION COURSES.MEMBER EXPERIENCE - A NEW PROGRAM ADDITION IN 2022, THESE MONIES SUPPORT ASSOCIATION ACTIVITIES TO DEEPEN RELATIONSHIPS WITH ALL MEMBERS, WITH PARTICULAR FOCUS ON MANAGING BROKERS, AS THEY PROVIDE THE BUSINESS STRUCTURE FOR BROKERS TO PURSUE SUCCESS. AN INITIAL MANAGING BROKER SUMMIT WAS HELD IN 2022, WITH REGULARLY SCHEDULEDMANAGING BROKER FORUMS PLANNED FOR FUTURE YEARS. PLANS ALSO INCLUDE EXPANSION OF THE EXISTING MANAGING BROKER ADVISORY COMMITTEE TO DEVELOP RELEVANT, ENGAGING, AND UNIQUE CONTENT ON KEY ISSUES AFFECTING BROKERAGES OF ALL SIZES, BUSINESS MODELS, AND GEOGRAPHIES.
GOVERNMENT AFFAIRS - GOVERNMENT AFFAIRS EXPENDITURES SUPPORT ASSOCIATION STAFF IN PROMOTING LEGISLATION AT BOTH THE LOCAL, STATE AND FEDERAL LEVELS THAT ENHANCE THE FREEDOM AND ABILITY OF REALTORS TO CONDUCT BUSINESS SUCCESSFULLY WITH INTEGRITY AND COMPETENCY. SAID EXPENDITURES ALSO PROVIDE DEFENSE AGAINST LEGISLATION HARMFUL TO REALTORS AND THE INDIVIDUAL RIGHT TO OWN REAL PROPERTY. SPECIFIC EXPENDITURES INCLUDE, BUT ARE NOT LIMITED TO RESEARCH, LOBBYING, REALTORS POLITICAL ACTION COMMITTEE SOLICITATION, AND GENERAL OFFICE SUPPLIES.
LEGAL AFFAIRS - LEGAL AFFAIRS EXPENDITURES SUPPORT THE ASSOCIATION ATTORNEYS AND STAFF IN EDUCATING MEMBERS ON THE LAWS GOVERNING THE REALTOR PROFESSION AND REAL ESTATE TRANSACTIONS. SPECIFICALLY, THESE EXPENDITURES PRODUCE AND MAINTAIN AN ELECTRONIC LIBRARY OF LEGAL FORMS AVAILABLE TO ALL MEMBERS TO GUIDE THEIR CLIENTS THROUGH EVERY TYPE OF REAL ESTATE TRANSACTION AND ADMINISTER THE LEGAL HOTLINE, A TOLL-FREE TELEPHONE AND E-MAIL ADDRESS BY WHICH MANAGING BROKERS MAY SEEK FREE LEGAL GUIDANCE. SAID EXPENDITURES ALSO PROMOTE AND ENFORCE THE NATIONAL REALTOR CODE OF ETHICS THROUGH THE SHARED PROFESSIONAL STANDARDS ENFORCEMENT PROGRAM, AND PROVIDE EQUAL OPPORTUNITY AND HOUSING, AND RISK REDUCTION TRAINING AT ASSOCIATION EVENTS. ASSOCIATION ATTORNEYS ALSO HELP WITH COURSES AND MATERIALS FOR THE ASSOCIATION-OWNED REAL ESTATE CERTIFICATION PROGRAM (RECP). LEGAL AFFAIRS ENSURES COMPLIANCE WITH CAMPAIGN FINANCE LAW, INCLUDING APPROVING REALTORS POLITICAL ACTION COMMITTEE (RPAC) DISCLAIMERS FOR LOCAL BOARDS, ADVISING LOCAL BOARDS ON RPAC AND THE LAW, PROVIDING ASSISTANCE TO IAR STAFF TO RESPOND TO INQUIRIES FROM THE INDIANA ELECTION COMMISSION AND THE FILING OF THE CAMPAIGN FINANCE REPORT FOR RPAC. LEGAL AFFAIRS EXPENDITURES PROMOTE AND PROVIDE FOR LEGAL REVIEW OF ALL IAR LEASES, CONTRACTS AND RELATED LEGAL AGREEMENTS AND OVERSEES THE DEFENSE OF IAR LAWSUITS, CLAIMS AND OTHER LEGAL MATTERS. LEGAL AFFAIRS ALSO ADMINISTERS THE LEGAL ACTION PROGRAM TO HELP ALLEVIATE LITIGATION COSTS FOR MEMBERS AND/OR LOCAL ASSOCIATIONS INVOLVED IN LITIGATION. THE PURPOSE OF THE LEGAL ACTION PROGRAM IS TO PROVIDE FINANCIAL ASSISTANCE TO SUPPORT LITIGATION OF SIGNIFICANCE TO THE ASSOCIATION, INCLUDING MATTERS RELEVANT TO THE PRACTICE OF REAL ESTATE, THE OPERATION OF REAL ESTATE ASSOCIATIONS, OWNERSHIP AND USE OF REAL ESTATE, AND PRIVATE PROPERTY RIGHTS. LEGAL ACTION FUNDS ARE TO BE USED EXCLUSIVELY TO PAY THE LEGAL FEES, COSTS, AND EXPENSES INCURRED IN CONNECTION WITH THE LITIGATION FOR WHICH ASSISTANCE IS REQUESTED AND PROVIDED.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Roger Lundy Immediate Past President/treasurer | Trustee | 1 | $0 |
Andy Rudolph President | OfficerTrustee | 1 | $18,000 |
Lynn Wheeler President - Elect | OfficerTrustee | 1 | $0 |
Jennifer Parham Vice-President | OfficerTrustee | 1 | $0 |
Kimberly Ward Vice-President | OfficerTrustee | 1 | $0 |
Nathan Reeder Member | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Corelogic Technology Consulting | 12/30/22 | $359,138 |
Lone Wolf Technologies Electronic Forms Service | 12/30/22 | $159,924 |
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 | $4,559 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $4,559 |
Total Program Service Revenue | $6,375,233 |
Investment income | $289,034 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $10,255 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $22,925 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $6,742,717 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $5,000 |
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. | $885,647 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,574,985 |
Pension plan accruals and contributions | $91,002 |
Other employee benefits | $147,256 |
Payroll taxes | $169,488 |
Fees for services: Management | $0 |
Fees for services: Legal | $27,148 |
Fees for services: Accounting | $29,912 |
Fees for services: Lobbying | $4,559 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $18,733 |
Fees for services: Other | $352,321 |
Advertising and promotion | $44,195 |
Office expenses | $239,115 |
Information technology | $693,904 |
Royalties | $0 |
Occupancy | $267,325 |
Travel | $260,181 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $244,487 |
Interest | $102 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $58,705 |
Insurance | $20,000 |
All other expenses | $0 |
Total functional expenses | $5,548,292 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $4,109,470 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $2,248,635 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $1,749,239 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $179,917 |
Net Land, buildings, and equipment | $1,862,829 |
Investments—publicly traded securities | $3,891,328 |
Investments—other securities | $4,487,848 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $418,492 |
Total assets | $18,947,758 |
Accounts payable and accrued expenses | $2,135,643 |
Grants payable | $0 |
Deferred revenue | $1,560,601 |
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 | $418,492 |
Total liabilities | $4,114,736 |
Net assets without donor restrictions | $14,833,022 |
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 | $18,947,758 |