Michigan Association Of Realtors
- Assets
- $22.1m
- Revenue
- $8.8m
- Investments
- $0.0
- Employees
- 27
- Location
- Lansing, MI
- Founding
- 02/1943
- Data as of
- 12/2023
- EIN
- 38-0829980
Organization Overview
Michigan Association Of Realtors is located in Lansing, MI. The organization was established in 1943. According to its NTEE Classification (L03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Michigan Association Of Realtors employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Association 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 12/2023, Michigan Association Of Realtors generated $8.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $7.4m during the year ending 12/2023. While expenses have increased by 5.6% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE MEMBERS WITH SERVICES THAT WILL ENHANCE THEIR ABILITY TO SUCCEED PROFESSIONALLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBER ADVOCACY - STATEWIDE ADVOCACY EFFORTS PROMOTED LEGISLATION AND PUBLIC POLICY INITIATIVES THAT ADVANCED THE REAL ESTATE PROFESSION AND CONTRIBUTED TO MAKING COMMUNITIES STRONGER. THE LEGAL HOTLINE HANDLED OVER 5,200 CALLS.
MEMBER RESOURCES - HELD CONFERENCES AND NUMEROUS EDUCATIONAL PROGRAMS FOCUSING ON INDUSTRY ISSUES. MORE THAN 1,900 MEMBERS PARTICIPATED IN THESE PROGRAMS. A BI-MONTHLY MAGAZINE AND MONTHLY, BIWEEKLY, AND WEEKLY E-COMMUNICATIONS WERE DISTRIBUTED TO APPROXIMATELY 34,800 REALTORS AND INDUSTRY LEADERS. A WEBSITE FOR MEMBER AND PUBLIC USE WAS MAINTAINED AND RECEIVED APPROXIMATELY 12,500 HITS PER MONTH.
CE MARKETPLACE IS A ONE-STOP DESTINATION FOR CERTIFIED, AUDIT PROTECTED, PROFESSIONAL DEVELOPMENT FOR REAL ESTATE INSTRUCTORS, COURSE SPONSORS, AND LICENSEES. THE CE MARKETPLACE ASSISTS REAL ESTATE LICENSEES WITH TRACKING CONTINUING EDUCATION HOURS FOR STATE OF MICHIGAN LICENSING REQUIREMENTS. CE MARKETPLACE HAS THE MOST CURRENT, COMPREHENSIVE, AND PRACTICAL REAL ESTATE EDUCATION INFORMATION AVAILABLE FROM COURSE INSTRUCTORS AND CLASS SPONSORS. SIGNIFICANT RESOURCES HAVE BEEN UTILIZED IN THE BUILDING OF THIS COMPREHENSIVE CE TRACKING SYSTEM. THE MICHIGAN LEGISLATURE HAS RECOGNIZED THE ROLE THAT PROFESSIONAL ORGANIZATIONS, LIKE MICHIGAN REALTORS PLAY IN UPHOLDING THE HIGH STANDARDS OF PROFESSIONALISM AMONG PRACTITIONERS. IN THE CURRENT YEAR THERE WERE 263 CE CERTIFIED INSTRUCTORS, 1,645 CE CERTIFIED COURSES, 3,963 CE COURSES HELD, AND 2,680 LICENSEES ACTIVATING RECORDS IN THE CE MARKETPLACE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Adgate Director | Trustee | 2 | $0 |
Jodie Franklin Director | Trustee | 2 | $0 |
Alfred Block Director | Trustee | 2 | $0 |
Deanna Coleman Director | Trustee | 2 | $0 |
Jason Makowski Director | Trustee | 2 | $0 |
Camille Elsea Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mcclelland & Anderson Llp Legal Services | 12/30/23 | $326,263 |
Ghmi Resort Holdings Event Venue | 12/30/23 | $103,741 |
Public Affairs Associates Inc Lobbying | 12/30/23 | $127,200 |
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 | $68,234 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $68,234 |
| Total Program Service Revenue | $8,275,979 |
| Investment income | $392,792 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $29,809 |
| Net Rental Income | $1,400 |
| Net Gain/Loss on Asset Sales | $2,791 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,798,547 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $36,420 |
| 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. | $1,191,295 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,660,555 |
| Pension plan accruals and contributions | $150,624 |
| Other employee benefits | $210,703 |
| Payroll taxes | $274,569 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $276,237 |
| Fees for services: Accounting | $29,000 |
| Fees for services: Lobbying | $330,862 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $51,243 |
| Fees for services: Other | $268,518 |
| Advertising and promotion | $0 |
| Office expenses | $405,656 |
| Information technology | $344,026 |
| Royalties | $0 |
| Occupancy | $356,673 |
| Travel | $470,330 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $748,481 |
| Interest | $65,752 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $372,824 |
| Insurance | $42,026 |
| All other expenses | $4,926 |
| Total functional expenses | $7,438,146 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $884,621 |
| Savings and temporary cash investments | $850,366 |
| Pledges and grants receivable | $61,388 |
| Accounts receivable, net | $1,132 |
| 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 | $117,350 |
| Net Land, buildings, and equipment | $8,524,675 |
| Investments—publicly traded securities | $11,459,360 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $160,785 |
| Total assets | $22,059,677 |
| Accounts payable and accrued expenses | $589,300 |
| Grants payable | $0 |
| Deferred revenue | $1,204,819 |
| 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 | $1,714,933 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $297,671 |
| Total liabilities | $3,806,723 |
| Net assets without donor restrictions | $18,252,954 |
| 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 | $22,059,677 |