Virginia Peninsula Association Of Realtors
- Assets
- $3.4m
- Revenue
- $933.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Hampton, VA
- Founding
- 05/1999
- Data as of
- 12/2023
- EIN
- 54-0647947
Organization Overview
Virginia Peninsula Association Of Realtors is located in Hampton, VA. The organization was established in 1999. 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, Virginia Peninsula Association Of Realtors employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Peninsula 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 12/2023, Virginia Peninsula Association Of Realtors generated $933.6k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $976.4k during the year ending 12/2023. While expenses have increased by 2.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE INFORMATION/EDUCATION SERVICES TO MEMBERS AND PROMOTE HIGH PROFESSIONAL STANDARDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE VARIOUS MEMBER INFORMATION SERVICES
ENHANCE MEMBER PROFESSIONAL STANDARDS
PROVIDE HIGH QUALITY TRAINING AND EDUCATION TO REALTORS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa Cline President | OfficerTrustee | 1 | $0 |
Peggy Todd President Elect | OfficerTrustee | 1 | $0 |
David Mohajerin Treasurer | OfficerTrustee | 1 | $0 |
James Wetzel CEO | Officer | 40 | $94,075 |
Kaera Mims Immediate Past President | OfficerTrustee | 1 | $0 |
Kimberly Wood Board Member | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $933,116 |
| Investment income | $10,033 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$10,314 |
| Net Gain/Loss on Asset Sales | $67 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $724 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $933,626 |
| 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. | $110,506 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $123,301 |
| Pension plan accruals and contributions | $3,416 |
| Other employee benefits | $12,123 |
| Payroll taxes | $16,267 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,652 |
| Fees for services: Lobbying | $42,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,079 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $27,695 |
| Information technology | $150,510 |
| Royalties | $0 |
| Occupancy | $170,966 |
| Travel | $27,117 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,564 |
| Insurance | $0 |
| All other expenses | $11,489 |
| Total functional expenses | $976,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,710 |
| Savings and temporary cash investments | $223,016 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,351 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $14,291 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,665,956 |
| Investments—publicly traded securities | $300,934 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $61,445 |
| Total assets | $3,436,703 |
| Accounts payable and accrued expenses | $40,348 |
| Grants payable | $0 |
| Deferred revenue | $446,977 |
| 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 | $2,123,166 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $46,247 |
| Total liabilities | $2,656,738 |
| Net assets without donor restrictions | $0 |
| 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 | $779,965 |
| Total liabilities and net assets/fund balances | $3,436,703 |