Topsail Island Association Of Realtors Inc
- Assets
- $272.3k
- Revenue
- $226.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Surf City, NC
- Founding
- 04/1995
- Data as of
- 12/2021
- EIN
- 56-1763640
Organization Overview
Topsail Island Association Of Realtors Inc is located in Surf City, NC. The organization was established in 1995. 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 12/2021, Topsail Island Association Of Realtors Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Topsail Island 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 12/2021, Topsail Island Association Of Realtors Inc generated $226.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $217.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND IMPROVE THE REAL ESTATE PROFESSION IN THE TOPSAIL ISLAND AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCTED MEETINGS OF MEMBERS TO DISSEMINATE INFORMATION RELATED TO THE REAL ESTATE PROFESSION THROUGH THE USE OF PUBLIC SPEAKERS. THIS FUNCTION BENEFITS REAL ESTATE AGENTS, BUILDERS, LENDERS, APPRAISERS, SELLERS, RENTERS AND OTHERS INVOLVED IN THE REAL ESTATE PROFESSION. ALSO MADE CONTRIBUTIONS TO AREA ORGANIZATIONS AND TO VARIOUS COMMUNITY ACTIVITIES.
PROVIDED A MULTIPLE LISTING SERVICE SYSTEM FOR THE USE OF MEMBERS, INCLUDING CONTRACTING TO HAVE A MLS BOOK PRINTED AND TO MAINTAIN A MLS WEBSITE, WITH EACH MEMBER RESPONSIBLE FOR MAINTAINING HIS OWN LISTINGS IN THE MASTER FILES. ALSO PROVIDED AN ELECTRONIC LOCKBOX SYSTEM FOR USE BY MEMBERS WHICH GIVES ADDED SECURITY TO PERSONS WITH PROPERTY FOR SALE.
SPONSORED AND SUPPORTED VARIOUS PROGRAMS OF CONTINUING EDUCATION IN ORDER TO PROVIDE HIGH QUALITY REAL ESTATE PROFESSIONALS TO SERVE THE NEEDS OF THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Upchurch President | Officer | 10 | $0 |
Jade Litcher Secretary | Officer | 10 | $0 |
Della Carson Treasurer | Officer | 10 | $0 |
Arlene Mcmillan Association Executive | Officer | 40 | $0 |
Carol Myers Director | Trustee | 5 | $0 |
Michael Fluharty Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $55,216 |
| 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 | $55,216 |
| Total Program Service Revenue | $170,817 |
| Investment income | $682 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $226,715 |
| 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. | $98,302 |
| Compensation of current officers, directors, key employees. | $31,457 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,833 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,200 |
| Fees for services: Accounting | $5,656 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,457 |
| Advertising and promotion | $0 |
| Office expenses | $14,585 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,113 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,045 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,218 |
| Insurance | $0 |
| All other expenses | $3,994 |
| Total functional expenses | $217,906 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $170,187 |
| Savings and temporary cash investments | $93,223 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $2,728 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,160 |
| Total assets | $272,298 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $77,629 |
| Total liabilities | $77,629 |
| 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 | $31,753 |
| Total liabilities and net assets/fund balances | $272,298 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mpb Inc Norfolk, VA | $396,978,838 | $58,868,450 |
Georgia Association Of Realtors Inc Atlanta, GA | $16,334,740 | $7,998,537 |
Northern Virginia Assoc Of Realtors Incorporated Fairfax, VA | $24,558,097 | $7,651,355 |
Grady Cass Incorporated Atlanta, GA | $161,041,116 | $0 |
The Georgia Health Sciences Foundation Inc Augusta, GA | $27,494,312 | $7,447,103 |
Rancho Cucamonga Ii Inc Charlotte, NC | $253,822,278 | $8,749,351 |
Richmond Board Of Realtors Richmond, VA | $32,077,110 | $4,626,448 |
Longleaf Pine Realtors Inc Fayetteville, NC | $7,914,934 | $3,962,762 |
Atlanta Realtors Association Inc Atlanta, GA | $8,002,087 | $2,853,636 |
Boscobel Heights Development Company Inc Nashville, TN | $26,913,589 | $950,458 |
Houston Healthcare Properties Inc Warner Robins, GA | $28,129,794 | $1,213,722 |
American Diabetes Association Property Title Holding Corporation Arlington, VA | $20,277,269 | $1,938,970 |