Institute Of Real Estate Management Of The Natl Assn Of Realtors
- Assets
- $99.9k
- Revenue
- $108.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Livonia, MI
- Founding
- 08/1976
- Data as of
- 12/2021
- EIN
- 51-0204250
Organization Overview
Institute Of Real Estate Management Of The Natl Assn Of Realtors, operating under the name Irem Michigan Chapter 5, is located in Livonia, MI. The organization was established in 1976. 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. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Irem Michigan Chapter 5 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 12/2021, Irem Michigan Chapter 5 generated $108.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.6%) each year. All expenses for the organization totaled $114.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (8.9%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE AND CERTIFY THE COMPETENCE AND PROFESSIONALISM OF INDIVIDUALS AND ORGANIZATIONS ENGAGED IN THE MANAGEMENT OF REAL ESTATE. THE ORGANIZATION SERVES AS AN ADVOCATE ON ISSUES AFFECTING THE REAL ESTATE MANAGEMENT INDUSTRY, AS WELL AS ENHANCING AND SUPPORTING ITS MEMBERS' PROFESSIONAL COMPETENCE SO THEY CAN BETTER IDENTIFY AND MEET THE NEEDS OF THOSE WHO UTILIZE THEIR SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MONTHLY REAL ESTATE MANAGEMENT MEETINGS AND CONFERENCES BENEFITING APPROXIMATELY 280 MEMBERS.
VENDOR DISPLAY SEMINARS AND TRADE SHOWS BENEFITING APPROXIMATELY 280 MEMBERS.
EDUCATION COURSES BENEFITING APPROXIMATELY 280 MEMBERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Knowles Executive Di | Officer | 40 | $47,150 |
Calvin Jackson Treasurer | Officer | 0.5 | $0 |
John Bridges President | Officer | 0.5 | $0 |
Heather Jakeway Secretary | Officer | 0.5 | $0 |
Scott Rubin Director | Trustee | 0.5 | $0 |
Tracy Brown Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $58,285 |
| 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 | $58,285 |
| Total Program Service Revenue | $46,494 |
| Investment income | $18 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $3,372 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $108,169 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,500 |
| 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. | $47,150 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,683 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,145 |
| Fees for services: Accounting | $3,910 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,134 |
| Advertising and promotion | $6,508 |
| Office expenses | $1,978 |
| Information technology | $2,803 |
| Royalties | $0 |
| Occupancy | $10,403 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,360 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $48 |
| Insurance | $1,069 |
| All other expenses | $1,751 |
| Total functional expenses | $114,450 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,291 |
| Savings and temporary cash investments | $89,767 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $813 |
| Total assets | $99,871 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $99,871 |
| Total liabilities and net assets/fund balances | $99,871 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Strs Ohio Tx Real Estate Investments Inc Columbus, OH | $220,303,180 | $20,609,768 |
Columbus Association Of Realtors Columbus, OH | $9,934,028 | $6,554,174 |
Imh Realty Corporation Franklin, IN | $84,073,233 | $0 |
River Park Community Corp Dayton, OH | $44,515,596 | $4,317,871 |
Nso Properties Detroit, MI | $10,016,182 | $2,478,176 |
Greater Milwaukee Association Of Realtors Inc Milwaukee, WI | $7,902,612 | $2,380,526 |
Yswin Development Inc Evansville, IN | $15,509,584 | $1,301,817 |
Realtors Associations Of Northeast Wisconsin Inc Appleton, WI | $6,876,231 | $1,366,137 |
Kosciusko Community Ymca Building Corporation Warsaw, IN | $0 | $738,000 |
Jvs Blue Ash Cincinnati, OH | $0 | $0 |
Zbt National Housing Inc Carmel, IN | $5,637,243 | $1,013,179 |
Mrm North Campus Inc Milwaukee, WI | $19,031,963 | $894,597 |