Virginia Association Of Realtors
- Assets
- $25.6m
- Revenue
- $9.3m
- Investments
- $0.0
- Employees
- 36
- Location
- Richmond, VA
- Founding
- 07/1983
- Data as of
- 12/2021
- EIN
- 54-0461014
Organization Overview
Virginia Association Of Realtors is located in Richmond, VA. The organization was established in 1983. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Virginia Association Of Realtors employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia 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 12/2021, Virginia Association Of Realtors generated $9.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $7.1m during the year ending 12/2021. While expenses have increased by 4.7% per year over the past 7 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.
Since 2015, Virginia Association Of Realtors has awarded 35 individual grants totaling $1,101,684. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ASSOCIATION SHALL BE A NON-PROFIT CORPORATION HAVING THE PURPOSE, IN CONCERT WITH ITS MEMBER ASSOCIATIONS, TO ENHANCE THE ABILITY OF ITS MEMBERS TO ACHIEVE CAREER SUCCESS IN AN ETHICAL AND PROFESSIONAL MANNER AND TO PROMOTE AND PROTECT PRIVATE PROPERTY RIGHTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION PROVIDES WORKSHOPS AND PROGRAMS SPECIFIC TO THE INDUSTRY, SPONSORS THE SPRING CONFERENCE AND ANNUAL CONVENTION IN WHICH MEMBERS OF CONCERN TO THE INDUSTRY, DEVELOP AND UPDATE FORMS THAT REFLECT VIRGINIA LAW AS IT RELATES TO THE REAL ESTATE INDUSTRY, AND ACT AS A LIASON BETWEEN REALTORS AND STATE AND LOCAL GOVERNMENTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terrie Suit CEO | Officer | 40 | $365,079 |
Martin Johnson Senior VP Of Government Re | 40 | $274,300 | |
Rick Lugg Coo/cfo | Officer | 40 | $249,700 |
Lisa Sturtevant Senior Vp/chief Economist | 40 | $194,500 | |
Laura Farley Senior Vp/general Counsel | 40 | $166,700 | |
Adam Smith Senior VP Of Member Programs | 40 | $134,200 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $7,831,828 |
| Investment income | $244,221 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $37,315 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,170,441 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,283,805 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $395,265 |
| 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. | $952,982 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $2,950,848 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $158,273 |
| Other employee benefits | $314,669 |
| Payroll taxes | $252,107 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,375 |
| Fees for services: Lobbying | $141,100 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $109,589 |
| Fees for services: Other | $40,637 |
| Advertising and promotion | $106,421 |
| Office expenses | $14,464 |
| Information technology | $395,639 |
| Royalties | $0 |
| Occupancy | $203,830 |
| Travel | $3,202 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $137,806 |
| Interest | $0 |
| Payments to affiliates | $200,595 |
| Depreciation, depletion, and amortization | $167,977 |
| Insurance | $43,026 |
| All other expenses | $74,252 |
| Total functional expenses | $7,130,710 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $500 |
| Savings and temporary cash investments | $7,383,011 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $911 |
| 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 | $220,175 |
| Net Land, buildings, and equipment | $1,244,803 |
| Investments—publicly traded securities | $16,752,242 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,601,642 |
| Accounts payable and accrued expenses | $246,918 |
| Grants payable | $0 |
| Deferred revenue | $4,783,546 |
| 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 | $5,030,464 |
| Net assets without donor restrictions | $20,571,178 |
| 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 | $25,601,642 |
Grants Awarded
Over the last fiscal year, Virginia Association Of Realtors has awarded $202,358 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Chicago, IL PURPOSE: SUPPORT HOMEOWNERS DURING DISASTERS | $100,000 |
RICHMOND ASSOCIATION OF REALTORS PURPOSE: SUPPORT LOCAL REAL ESTATE ISSUES | $71,440 |
HAMPTON ROADS REALTORS ASSOCIATION PURPOSE: SUPPORT LOCAL REAL ESTATE ISSUES | $12,147 |
Colonial Heights, VA PURPOSE: SUPPORT LOCAL REAL ESTATE ISSUES | $11,847 |
Harrisonburg, VA PURPOSE: SUPPORT LOCAL REAL ESTATE ISSUES | $6,924 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Virginia Association Of Realtors has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Greater Washington Community Foundation Washington, DC PURPOSE: GENERAL SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Williamsburg Area Chamber Of Commerce Williamsburg, VA | $14,757,466 | $13,076,106 |
House Majority Forward Washington, DC | $4,051,593 | $12,002,258 |
Naiop Inc Herndon, VA | $24,051,800 | $11,820,157 |
Association Of Small Business Development Centers Burke, VA | $3,386,085 | $9,990,521 |
Charlotte Regional Realtor Association Inc Charlotte, NC | $53,438,404 | $12,494,849 |
Real Estate Roundtable Inc Washington, DC | $4,544,529 | $7,445,927 |
North Carolina Association Of Realtors Inc Greensboro, NC | $31,160,587 | $11,391,480 |
The North Carolina Community Action Association Raleigh, NC | $4,811,006 | $8,169,285 |
American Seed Trade Association Alexandria, VA | $7,353,007 | $6,785,185 |
Virginia Association Of Realtors Richmond, VA | $25,601,642 | $9,283,805 |
Raleigh Regional Association Of Realtors Inc Cary, NC | $11,211,879 | $6,674,452 |
Professional Services Council Inc Arlington, VA | $6,239,213 | $6,315,119 |