Northern Virginia Assoc Of Realtors Incorporated
- Assets
- $22.0m
- Revenue
- $6.9m
- Investments
- $2.4m
- Employees
- 48
- Location
- Fairfax, VA
- Founding
- 01/2003
- Data as of
- 12/2023
- EIN
- 54-0486410
Organization Overview
Northern Virginia Assoc Of Realtors Incorporated is located in Fairfax, VA. The organization was established in 2003. 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. As of 12/2023, Northern Virginia Assoc Of Realtors Incorporated employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northern Virginia Assoc Of Realtors Incorporated 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 12/2023, Northern Virginia Assoc Of Realtors Incorporated generated $6.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $7.8m during the year ending 12/2023. While expenses have increased by 1.1% per year over the past 9 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 2014, Northern Virginia Assoc Of Realtors Incorporated has awarded 30 individual grants totaling $367,038. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ELEVATING REALTOR SUCCESS BY DELIVERING EXCEPTIONAL VALUE, DRIVING INNOVATION AND IMPACTING THE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NORTHERN VIRGINIA ASSOCIATION OF REALTORS (NVAR) EDUCATIONAL PROGRAM SERVICE ACHIEVES THE ASSOCIATION'S PURPOSE OF PROVIDING CURRENT AND PROSPECTIVE REAL ESTATE PROFESSIONALS WITH THE KNOWLEDGE NECESSARY TO CONDUCT REAL ESTATE ACTIVITIES IN NORTHERN VIRGINIA AND, BY OFFERING CONTINUING EDUCATION CLASSES, ASSIST MEMBERS IN MEETING THEIR STATE LICENSING REQUIREMENTS.
THE NORTHERN VIRGINIA ASSOCIATION OF REALTORS ACHIEVES THE ASSOCIATION'S GOAL OF DISSEMINATING INFORMATION TO THE MEMBERSHIP AND GENERAL PUBLIC AND ADVOCATING TO PROTECT REAL PROPERTY RIGHTS. THIS INFORMATION ASSISTS IN PROVIDING VITAL INFORMATION REGARDING THE REAL ESTATE MARKET, REGULATORY AND LEGAL ISSUES AFFECTING REAL ESTATE AND THE REAL ESTATE PROFESSION IN NORTHERN VIRGINIA.
THE NORTHERN VIRGINIA ASSOCIATION OF REALTORS ACHIEVES THE ASSOCIATION'S GOAL OF PROVIDING MEMBERS THE PRODUCTS AND TOOLS NECESSARY TO CONDUCT REAL ESTATE ACTIVITIES IN NORTHERN VIRGINIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heather Embrey President | OfficerTrustee | 10 | $0 |
Thai Hung Nguyen President-Elect | OfficerTrustee | 2 | $0 |
Casey Menish Secretary/treasurer | OfficerTrustee | 2 | $0 |
Christopher R Copeland Immediate Past President | OfficerTrustee | 2 | $17,160 |
Peter Bixby Director | Trustee | 1 | $0 |
Miguel Calvo Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cybervillage Networkers Inc Computer Services | 12/30/23 | $233,169 |
Cloud Topco Db A Red River Managed Serv Computer Services | 12/30/23 | $143,991 |
Remine Inc Transaction Management Software | 12/30/23 | $177,252 |
Windows Catering Company Event Catering | 12/30/23 | $121,218 |
Forewarn Llc Identity Verification App | 12/30/23 | $116,250 |
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 | $79,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $79,500 |
| Total Program Service Revenue | $5,678,651 |
| Investment income | $742,091 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $447,526 |
| Net Rental Income | $7,300 |
| Net Gain/Loss on Asset Sales | -$62,658 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$25,988 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,868,322 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $55,737 |
| 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. | $1,000,365 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,531,420 |
| Pension plan accruals and contributions | $119,584 |
| Other employee benefits | $306,076 |
| Payroll taxes | $239,101 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $51,586 |
| Fees for services: Accounting | $32,800 |
| Fees for services: Lobbying | $14,121 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $52,520 |
| Fees for services: Other | $510,551 |
| Advertising and promotion | $129,887 |
| Office expenses | $703,086 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $621,243 |
| Travel | $102,635 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $684,487 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $468,525 |
| Insurance | $17,009 |
| All other expenses | $0 |
| Total functional expenses | $7,802,295 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $363,413 |
| Savings and temporary cash investments | $5,901,841 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $379,955 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $65,054 |
| Prepaid expenses and deferred charges | $124,058 |
| Net Land, buildings, and equipment | $5,978,711 |
| Investments—publicly traded securities | $6,782,586 |
| Investments—other securities | $2,356,144 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $77,567 |
| Total assets | $22,029,329 |
| Accounts payable and accrued expenses | $663,969 |
| Grants payable | $0 |
| Deferred revenue | $2,675,377 |
| 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 | $219,263 |
| Total liabilities | $3,558,609 |
| Net assets without donor restrictions | $18,470,720 |
| 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 | $22,029,329 |
Grants Awarded
Over the last fiscal year, Northern Virginia Assoc Of Realtors Incorporated has awarded $20,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NORTHERN VIRGINIA TRANSPORTATION ALLIANCE PURPOSE: GENERAL SUPPORT | $10,000 |
REALTORS RELIEF FOUNDATION PURPOSE: GENERAL SUPPORT | $5,000 |
VIRGINIA REALTORS DISASTER RELIEF FUND PURPOSE: GENERAL SUPPORT | $5,000 |