Greensboro Regional Realtors Association Inc
- Assets
- $7.3m
- Revenue
- $2.7m
- Investments
- $500.4k
- Employees
- 8
- Location
- Greensboro, NC
- Founding
- 10/1977
- Data as of
- 09/2023
- EIN
- 56-0509232
Organization Overview
Greensboro Regional Realtors Association Inc is located in Greensboro, NC. The organization was established in 1977. 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 09/2023, Greensboro Regional Realtors Association Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greensboro Regional Realtors Association Inc 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 09/2023, Greensboro Regional Realtors Association Inc generated $2.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $2.4m during the year ending 09/2023. While expenses have increased by 6.0% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE COMMUNITY ACCESS TO THE REAL ESTATE PROFESSION AND TO PROVIDE A GOVERNING BODY WHILE PROVIDING SUPPORT AND EDUCATION FOR THOSE IN THE REAL ESTATE PROFESSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION UNITES THE PROFESSION FOR THE PURPOSE OF EXERTING A BENEFICIAL INFLUENCE UPON THE PROFESSION AND RELATED INTERESTS. THE ASSOCIATION EXERTS THIS INFLUENCE PRIMARILY THROUGH ITS SUBSTANTIAL CONTINUING EDUCATION PROGRAM, THEREBY FACILITATING EFFICIENT TRANSACTIONS AND ORDERLY MARKETS. COMMITTEES INVOLVED IN THESE PROGRAMS INCLUDE THE EDUCATION AND ORIENTATION.
THE ASSOCIATION PROMOTES AND MAINTAINS HIGH STANDARDS OF CONDUCT IN THE PROFESSION AS EXPRESSED IN THE CODE OF ETHICS. THE ASSOCIATION PROMOTES THESE STANDARDS THROUGH PUBLICATIONS AND PRESENTATIONS AND THROUGH ARBITRATION AND MEDIATION OF DISPUTES. COMMITTEES INVOLVED ARE THE GRIEVANCE COMMITTEE, PROFESSIONAL STANDARDS COMMITTEE, AND EQUAL OPPORTUNITY COMMITTEE.
THE ASSOCIATION PROVIDES A UNIFIED MEDIUM FOR THE PROFESSION AND REAL ESTATE OWNERS WHEREBY THEIR INTERESTS MAY BE SAFEGUARDED AND ADVANCED. THE ASSOCIATION ADVANCES THE INTERESTS OF THE PROFESSION PRIMARILY THROUGH MONITORING LEGISLATIVE AND REGULATORY DEVELOPMENTS OF INTEREST TO IT AND PROVIDING TESTIMONY ON PROPOSALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sofia Crisp President | OfficerTrustee | 5 | $0 |
Hilburn B Michel Immediate Past President | OfficerTrustee | 3 | $0 |
Mary Beth Powell Treasurer | OfficerTrustee | 3 | $0 |
Stephanie Mabe Assistant Treasurer | OfficerTrustee | 3 | $0 |
Marvette Artis President-Elect | OfficerTrustee | 1 | $0 |
Jimmy Dowell Jr 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 | $2,599,616 |
| Investment income | $72,132 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$32,798 |
| Net Gain/Loss on Asset Sales | -$19,017 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,692,213 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $30,071 |
| 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. | $162,512 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $314,261 |
| Pension plan accruals and contributions | $30,105 |
| Other employee benefits | $53,123 |
| Payroll taxes | $36,967 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $237 |
| Fees for services: Accounting | $29,745 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,312,340 |
| Advertising and promotion | $5,512 |
| Office expenses | $114,852 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $86,128 |
| Travel | $51,634 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $129,914 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,126 |
| Insurance | $2,052 |
| All other expenses | $0 |
| Total functional expenses | $2,419,035 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,630 |
| Savings and temporary cash investments | $4,941,887 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,725 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $709 |
| Prepaid expenses and deferred charges | $13,814 |
| Net Land, buildings, and equipment | $404,561 |
| Investments—publicly traded securities | $1,402,892 |
| Investments—other securities | $500,428 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,325,646 |
| Accounts payable and accrued expenses | $48,464 |
| Grants payable | $0 |
| Deferred revenue | $932,836 |
| 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 | $981,300 |
| Net assets without donor restrictions | $6,344,346 |
| 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 | $7,325,646 |
Grants Awarded
Over the last fiscal year, Greensboro Regional Realtors Association Inc has awarded $23,285 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FRIENDS OF GREENSBORO PARKS AND RECREATION FOUNDATION PURPOSE: TO FURTHER THE CHARITABLE CAUSE OF THE ORGANIZATION. | $7,500 |
GREENSBORO REGIONAL REALTORS FOUNDATION PURPOSE: TO FURTHER THE CHARITABLE CAUSE OF THE ORGANIZATION. | $15,785 |