Institute Of Real Estate Management Of The Natl Assn Of Realtors
- Assets
- $252.3k
- Revenue
- $126.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 08/1976
- Data as of
- 12/2021
- EIN
- 51-0204286
Organization Overview
Institute Of Real Estate Management Of The Natl Assn Of Realtors, operating under the name Chapter 40, is located in Charlotte, NC. 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. Chapter 40 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, Chapter 40 generated $126.6k 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 $147.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.0%) 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
THE OBJECTIVES OF THE INSTITUTE OF REAL ESTATE MANAGEMENT ARE TO ASSIST IN THE IMPLEMENTATION OF AND CARRYING OUT OF IT'S VARIOUS PROGARMS AND ACTIVITIES, AND ASSIST IN THE DEVELOPMENT OF TECHNICAL AND EDUCATIONAL MATERIAL FOR THE REAL ESTATE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING OPPORTUNITIES FOR ADVANCEMENT IN THE REAL ESTATEMENT MANAGEMENT FIELD THROUGH THE USE OF MEETINGS, CONVENTIONS, AND TRADE SHOWS.
PROVIDING PUBLIC RELATIONS REGARDING THE REAL ESTATE MANAGEMENT INDUSTRY
EDUCATIONAL ACTIVITIES PROVIDED IN ORDER TO ENHANCE THE KNOWLEDGE OF REAL ESTATE MANAGERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chevalle Hardison President | Officer | 5 | $0 |
Frank Sproviero Sec Treasury | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $115,284 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,141 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $116,425 |
| Total Program Service Revenue | $12,945 |
| Investment income | $4 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$2,763 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $126,611 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $64,305 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,067 |
| Advertising and promotion | $27,490 |
| Office expenses | $8,600 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $15,803 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,347 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $147,612 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $248,607 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $205 |
| 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 | $3,459 |
| Total assets | $252,271 |
| 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 | $20,125 |
| Total liabilities | $20,125 |
| Net assets without donor restrictions | $232,146 |
| 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 | $252,271 |
Grants Awarded
Over the last fiscal year, Institute Of Real Estate Management Of The Natl Assn Of Realtors has awarded $29,138 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Matthews, NC PURPOSE: Operating assistance | $14,596 |
Charlotte, NC PURPOSE: Operating assistance | $14,542 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mpb Inc Norfolk, VA | $396,978,838 | $58,868,450 |
Georgia Association Of Realtors Inc Atlanta, GA | $16,334,740 | $7,998,537 |
Northern Virginia Assoc Of Realtors Incorporated Fairfax, VA | $24,558,097 | $7,651,355 |
Grady Cass Incorporated Atlanta, GA | $161,041,116 | $0 |
The Georgia Health Sciences Foundation Inc Augusta, GA | $27,494,312 | $7,447,103 |
Rancho Cucamonga Ii Inc Charlotte, NC | $253,822,278 | $8,749,351 |
Richmond Board Of Realtors Richmond, VA | $32,077,110 | $4,626,448 |
Longleaf Pine Realtors Inc Fayetteville, NC | $7,914,934 | $3,962,762 |
Atlanta Realtors Association Inc Atlanta, GA | $8,002,087 | $2,853,636 |
Boscobel Heights Development Company Inc Nashville, TN | $26,913,589 | $950,458 |
Houston Healthcare Properties Inc Warner Robins, GA | $28,129,794 | $1,213,722 |
American Diabetes Association Property Title Holding Corporation Arlington, VA | $20,277,269 | $1,938,970 |