The Society Of Industrial And Office Realtors
- Assets
- $13.4m
- Revenue
- $8.7m
- Investments
- $0.0
- Employees
- 26
- Location
- Chicago, IL
- Founding
- 11/2015
- Data as of
- 12/2022
- EIN
- 53-0184820
Organization Overview
The Society Of Industrial And Office Realtors is located in Chicago, IL. The organization was established in 2015. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Society Of Industrial And Office Realtors employed 26 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Society Of Industrial And Office 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 12/2022, Society Of Industrial And Office Realtors generated $8.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $8.2m during the year ending 12/2022. While expenses have increased by 4.8% 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
THE SOCIETY OF INDUSTRIAL AND OFFICE REALTORS (SIOR) OF THE NAR IS A (CONTINUED ON SCHEDULE O) PROFESSIONAL ASSOCIATION WHICH:A. TO UNITE THOSE REALTORS WHO ARE ENGAGED IN BROKERING OR ADVISING FOR COMPENSATION, THE BUYING, SELLING, RENTING OR LEASING OF LAND, FACTORIES, WAREHOUSES, RESEARCH FACILITIES, OFFICES AND OTHER REAL ESTATE USED IN THE PROCESSES OF BUSINESS AND INDUSTRY ("INDUSTRIAL AND OFFICE REAL ESTATE").B. THE FOSTERING OF KNOWLEDGE, EDUCATION, INTEGRITY, AND QUALITY WORKMANSHIP IN THE FIELD OF INDUSTRIAL AND OFFICE REAL ESTATE.C. THE EXCHANGE OF INFORMATION RELATING TO INDUSTRIAL AND OFFICE REAL ESTATE.D. THE IDENTIFICATION, QUALIFICATION AND CERTIFICATION OF EXPERIENCED AND COMPETENT INDUSTRIAL AND OFFICE REAL ESTATE PROFESSIONALS AND PUBLICATION OF THE QUALIFICATIONS OF ITS MEMBERS TO THOSE NEEDS OF THE PUBLIC.E. THE COOPERATION WITH GOVERNMENTAL DEPARTMENTS, CIVIC ORGANIZATIONS, EDUCATIONAL INSTITUTIONS, AND BUSINESS GROUPS, BY APPROPRIATE CONTACT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SIOR'S TWO SEMI-ANNUAL CONFERENCES PROVIDE ATTENDEES WITH OUTSTANDING EDUCATIONAL PROGRAMMING AND VALUABLE NETWORKING OPPORTUNITIES. EDUCATIONAL SESSION INSTRUCTORS COMMUNICATE CURRENT MARKET DATA AND CUTTING EDGE INDUSTRY PRACTICES ENABLING SIOR MEMBERS TO REMAIN LEADERS IN COMMERCIAL REAL ESTATE. IN ADDITION, SIOR SEEKS STATE APPROVAL FOR EDUCATIONAL SESSIONS, SO THAT ATTENDEES RECEIVE CONTINUING EDUCATION CREDIT TOWARD STATE REAL ESTATE LICENSE RENEWALS.
SIOR IDENTIFIES AND CERTIFIES FULLY QUALIFIED EXPERTS IN INDUSTRIAL AND OFFICE REAL ESTATE WITH THE SIOR DESIGNATION. TO QUALIFY FOR THE SIOR DESIGNATION, INDIVIDUALS MUST MEET SPECIFIED EDUCATIONAL AND VOLUME-OF BUSINESS REQUIREMENTS, AND ADHERE TO A STRICT CODE OF ETHICAL STANDARDS IN ACCORDANCE WITH SIOR'S CODE OF ETHICAL PRINCIPLES AND STANDARDS OF PROFESSIONAL PRACTICE.
PRODUCTION OF PROFESSIONAL REPORT, THE OFFICIAL QUARTERLY MAGAZINE OF SIOR. THE MAGAZINE PROVIDES EDUCATIONAL ARTICLES, INDUSTRY TRENDS, AND MEMBER NEWS FOR DISSEMINATION TO SIOR MEMBERS AND THE BROADER COMMERCIAL REAL ESTATE COMMUNITY. ALSO, SIOR PROVIDES A "MEMBER FIND A MEMBER" SERVICE VIA THEIR WEBSITE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Thornburgh CEO | OfficerTrustee | 37.5 | $686,708 |
Taber Thill Member - At Large | Trustee | 0.5 | $0 |
Dan Smolensky Member - At Large (beg 10/2022) | Trustee | 0.5 | $0 |
Terry Smith Member - At Large | Trustee | 0.5 | $0 |
Saadia Sheikh Member - At Large (beg 10/2022) | Trustee | 0.8 | $0 |
Damian Rivera Member - At Large (beg 10/2022) | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Csg Creative Marketing Services | 12/30/22 | $206,434 |
Mdg Digital Campaign | 12/30/22 | $115,632 |
Staging Solutions Production Management | 12/30/22 | $367,900 |
Washington Speakers Bureau Speaker Fees | 12/30/22 | $110,262 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $352,697 |
| 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 | $352,697 |
| Total Program Service Revenue | $7,590,250 |
| Investment income | $172,433 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,410 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $604,347 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$1,538 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,723,880 |
| 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. | $2,274,779 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $863,321 |
| Pension plan accruals and contributions | $14,948 |
| Other employee benefits | $67,120 |
| Payroll taxes | $154,796 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $57,585 |
| Fees for services: Accounting | $48,553 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $51,957 |
| Fees for services: Other | $417,871 |
| Advertising and promotion | $438,241 |
| Office expenses | $647,080 |
| Information technology | $88,261 |
| Royalties | $0 |
| Occupancy | $373,189 |
| Travel | $645,431 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,728,517 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $107,230 |
| Insurance | $4,167 |
| All other expenses | $161,148 |
| Total functional expenses | $8,205,769 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,249,784 |
| Savings and temporary cash investments | $1,048,928 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $91,268 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $9,504 |
| Prepaid expenses and deferred charges | $694,569 |
| Net Land, buildings, and equipment | $72,024 |
| Investments—publicly traded securities | $8,913,607 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $331,156 |
| Total assets | $13,410,840 |
| Accounts payable and accrued expenses | $1,167,255 |
| Grants payable | $0 |
| Deferred revenue | $2,125,930 |
| 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 | $436,818 |
| Total liabilities | $3,730,003 |
| Net assets without donor restrictions | $9,680,837 |
| 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 | $13,410,840 |