Institute Of Real Estate Management Of The Natl Assn Of Realtors
- Assets
- $174.7k
- Revenue
- $196.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 08/1976
- Data as of
- 12/2021
- EIN
- 51-0204264
Organization Overview
Institute Of Real Estate Management Of The Natl Assn Of Realtors is located in Minneapolis, MN. 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. Institute Of Real Estate Management Of The Natl Assn 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 12/2021, Institute Of Real Estate Management Of The Natl Assn Of Realtors generated $196.2k 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 (3.6%) each year. All expenses for the organization totaled $189.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.3%) 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 REAL ESTATE MANAGERS AND CERTIFY THE COMPETENCE AND PROFESSIONALISM OF INDIVIDUALS AND ORGANIZATONS ENGAGED IN THE MANAGEMENT OF REAL ESTATE. IREM SERVES AS AN ADVOCATE ON ISSUES AFFECTING THE REAL ESTATE MANAGEMENT INDUSTRY, ENHANCING AND SUPPORTING ITS MEMBERS' PROFESSIONAL COMPETENCE SO THEY CAN BETTER MEET THE NEEDS OF THOSE WHO UTILIZE THEIR SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LUNCHEON AND DINNER MEETINGS TO PROMOTE INTERACTION AMONG MEMBERS AND TO PROMOTE PLANNING/SCHEDULING OF EVENTS AND SEMINARS FOR MEMBER EDUCATION.
EDUCATION COURSES AND SEMINARS TO EDUCATE MEMBERS AND PROMOTE A STRONGER AND MORE KNOWLEDGEABLE REAL ESTATE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Audrey June Janzen Vice President | OfficerTrustee | 2 | $0 |
Angela Samargia President | OfficerTrustee | 2 | $0 |
Alexander Leuthner Treasurer | OfficerTrustee | 2 | $0 |
Laura Steffes Executive Councilor | Trustee | 1 | $0 |
Brandon Otting Secretary | Trustee | 2 | $0 |
Emily Jacobs-Allen Executive Councilor | Trustee | 1 | $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 | $90,545 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $90,545 |
| Total Program Service Revenue | $89,659 |
| Investment income | $52 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $2,657 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $196,220 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $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. | $0 |
| 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 | $0 |
| Fees for services: Management | $126,883 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,785 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,051 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $669 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $700 |
| All other expenses | $1,615 |
| Total functional expenses | $189,216 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $168,791 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $770 |
| 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 | $5,100 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $174,661 |
| Accounts payable and accrued expenses | $18,021 |
| Grants payable | $0 |
| Deferred revenue | $40,303 |
| 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 | $58,324 |
| Net assets without donor restrictions | $116,337 |
| 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 | $174,661 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Higher Ground Building Company St Paul, MN | $19,969,103 | $1,882,072 |
Greater Milwaukee Association Of Realtors Inc Milwaukee, WI | $7,902,612 | $2,380,526 |
Realtor Association Of The Sioux Empire Inc Sioux Falls, SD | $2,199,740 | $1,500,544 |
Realtors Associations Of Northeast Wisconsin Inc Appleton, WI | $6,876,231 | $1,366,137 |
Aase Haugen Properties Inc Decorah, IA | $9,431,612 | $1,162,340 |
Mrm North Campus Inc Milwaukee, WI | $19,031,963 | $894,597 |
St Ann Center Properties Inc Milwaukee, WI | $24,367,316 | $308,541 |
Sd Properties Inc Milwaukee, WI | $3,731,946 | $1,031,449 |
Education Minnesota Properties Inc St Paul, MN | $3,348,632 | $1,061,633 |
Smelc Holdings Inc Milwaukee, WI | $9,672,286 | $580,000 |
Uvlf Opportunities Inc Minneapolis, MN | $22,216 | $75,874 |
Fargo-Moorhead Area Assoc Of Realtors Fargo, ND | $2,902,093 | $879,931 |