Winston Salem Regional Association Of Realtors Inc
- Assets
- $5.7m
- Revenue
- $1.5m
- Investments
- $866.8k
- Employees
- 7
- Location
- Winstonsalem, NC
- Founding
- 07/1945
- Data as of
- 12/2023
- EIN
- 56-0841677
Organization Overview
Winston Salem Regional Association Of Realtors Inc is located in Winstonsalem, NC. The organization was established in 1945. 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, Winston Salem Regional Association Of Realtors Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Winston Salem Regional Association Of Realtors 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 12/2023, Winston Salem Regional Association Of Realtors Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $1.4m during the year ending 12/2023. While expenses have increased by 10.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BE THE LEADING RESOURCE FOR REAL ESTATE PROFESSIONALS, TO ADVOCATE FOR PRIVATE PROPERTY RIGHTS AND TO BE AN INTEGRAL PART OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WINSTON-SALEM REGIONAL ASSOCIATION OF REALTORS, INC. SERVES TO UNITE THE REAL ESTATE PROFESSION IN THE COMMUNITY OF WINSTON-SALEM AND THE COUNTIES OF FORSYTH, STOKES, YADKIN, NORTHERN DAVIDSON, AND DAVIE AND TO EXERT A BENEFICIAL INFLUENCE UPON THE PROFESSION AND ITS RELATED INTERESTS: PROMOTE AND MAINTAIN HIGH STANDARDS OF CONDUCT IN THE REAL ESTATE PROFESSION; TO PROVIDE A UNIFORM MEDIUM FOR REAL ESTATE OWNERS AND THOSE ENGAGED IN THE REAL ESTATE PROFESSION WHEREBY THEIR INTEREST MAY BE SAFEGUARDED AND ADVANCED. TO FURTHER THE INTEREST OF HOME AND OTHER REAL PROPERTY OWNERSHIP. TO DESIGNATE FOR THE BENEFIT OF THE PUBLIC, THOSE INDIVIDUALS AUTHORIZED TO USE THE TERM REALTOR.
WINSTON-SALEM PROPERTY MANAGEMENT ASSOCIATION SERVES TO PROMULGATE AND PROMOTE PROFESSIONAL STANDARDS AND COOPERATION BETWEEN PROFESSIONAL PROPERTY MANAGERS AND OWNERS.
WINSTON-SALEM REGIONAL REALTORS & COMMERCIAL ALLIANCE (RCA) SERVES TO UNITE MEMBERS WHO ARE ENGAGED IN THE BUYING, SELLING, LEASING, AND APPRAISING OF COMMERCIAL, INDUSTRIAL AND INVESTMENT REAL ESTATE FOR THE PURPOSE OF EXERTING A BENEFICIAL INFLUENCE UPON MATTERS AFFECTING THE BUYING, SELLING AND LEASING OF COMMERCIAL/INDUSTRIAL REAL ESTATE. THE RCA SERVES TO PROVIDE MEETINGS IN WHICH MEMBERS WILL HAVE THE OPPORTUNITY OF EXCHANGING VIEWS, INFORMATION AND GENERAL KNOWLEDGE.
WINSTON-SALEM REGIONAL MULTIPLE LISTING SERVICE PROVIDES PARTICIPANTS WITH A MEANS OF MAKING BLANKET UNILATERAL OFFERS OF COMPENSATION TO OTHER PARTICIPANTS; BY WHICH COOPERATION AMONG PARTICIPANTS IS ENHANCED; BY WHICH INFORMATION IS ACCUMULATED AND DISSEMINATED TO ENABLE AUTHORIZED PARTICIPANTS TO PREPARE APPRAISALS, ANALYSIS, AND OTHER VALUATIONS OF REAL PROPERTY FOR BONAFIDE CLIENTS AND CUSTOMERS; BY WHICH PARTICIPANTS ENGAGING IN REAL ESTATE APPRAISALS CONTRIBUTE TO COMMON DATABASES, AND IS A FACILITY FOR THE ORDERLY CORRELATION AND DISSEMINATION OF LISTING INFORMATION SO PARTICIPANTS MAY BETTER SERVE THEIR CLIENTS AND THE PUBLIC. ENTITLEMENT TO COMPENSATION IS DETERMINED BY THE COOPERATING BROKER'S PERFORMANCE AS PROCURING CAUSE OF THE SALE (OR LEASE).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Samuel Aubrey Executive Di | Officer | 40 | $151,326 |
William Bartholomew Rca Chairman | OfficerTrustee | 1 | $0 |
Zachary Bradley Director | Trustee | 1 | $0 |
Brooke Cashion Director | Trustee | 1 | $0 |
Leigh Chase Lexington Ch | Trustee | 1 | $0 |
John-Lewis Godfrey Immed Past P | OfficerTrustee | 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 | $28,151 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,151 |
| Total Program Service Revenue | $700,189 |
| Investment income | $30,330 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,668 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $678,120 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,513,349 |
| 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. | $162,576 |
| Compensation of current officers, directors, key employees. | $53,650 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $359,390 |
| Pension plan accruals and contributions | $51,279 |
| Other employee benefits | $12,767 |
| Payroll taxes | $39,162 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $39,691 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,384 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $67,905 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $55,233 |
| Travel | $84,354 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $100,635 |
| Interest | $40 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $200,415 |
| Insurance | $6,429 |
| All other expenses | $90,170 |
| Total functional expenses | $1,427,301 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29 |
| Savings and temporary cash investments | $1,840,581 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $311,245 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $9,091 |
| Prepaid expenses and deferred charges | $12,294 |
| Net Land, buildings, and equipment | $2,680,622 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $866,773 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,720,635 |
| Accounts payable and accrued expenses | $1,329,617 |
| Grants payable | $0 |
| Deferred revenue | $127,453 |
| 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 | $1,457,070 |
| Net assets without donor restrictions | $4,240,073 |
| Net assets with donor restrictions | $23,492 |
| 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 | $5,720,635 |