Kentucky Association Of Realtors
- Assets
- $5.4m
- Revenue
- $2.3m
- Investments
- $2.1m
- Employees
- 14
- Location
- Lexington, KY
- Founding
- 08/1945
- Data as of
- 12/2022
- EIN
- 61-0466845
Organization Overview
Kentucky Association Of Realtors is located in Lexington, KY. The organization was established in 1945. 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 12/2022, Kentucky Association Of Realtors employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky 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 12/2022, Kentucky Association Of Realtors generated $2.3m 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 $2.5m during the year ending 12/2022. While expenses have increased by 9.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE UNITY AMONG REALTORS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL CONVENTION - THE ASSOCIATION IS THE STATEWIDE ORGANIZATION FOR REALTORS AND HAS ABOUT 13,005 MEMBERS. OFFICERS AND DIRECTORS ARE SELECTED BY MEMBERS AT THE ANNUAL CONVENTION.
DIRECTORS AND COMMITTEE MEETINGS - DIRECTORS ESTABLISH ASSOCIATION POLICIES AND REVIEW FINANCIAL REPORTS AT QUARTERLY MEETINGS. THE ASSOCIATION IS ALSO REPRESENTED ON THE NATIONAL LEVEL AT THE NATIONAL CONVENTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Summers Chief Executive Officer | Officer | 39 | $183,333 |
Cinda Hatfield Chief Administrative Officer | 40 | $113,750 | |
Mike Inman President | Trustee | 1 | $0 |
Pamela Featherstone Treasurer | Trustee | 1 | $0 |
Mike Spicer Senior V.P. | Trustee | 1 | $0 |
Earlene W Woods Senior V.P. | 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 | $2,198,270 |
| Investment income | $37,835 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $44,460 |
| Net Gain/Loss on Asset Sales | -$583 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,313,290 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,000 |
| 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. | $190,828 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $653,914 |
| Pension plan accruals and contributions | $22,761 |
| Other employee benefits | $82,367 |
| Payroll taxes | $66,317 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $43,171 |
| Fees for services: Accounting | $24,200 |
| Fees for services: Lobbying | $72,372 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,030 |
| Fees for services: Other | $14,921 |
| Advertising and promotion | $0 |
| Office expenses | $53,815 |
| Information technology | $34,856 |
| Royalties | $0 |
| Occupancy | $34,160 |
| Travel | $164,665 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $330,501 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $60,496 |
| Insurance | $5,220 |
| All other expenses | $183,833 |
| Total functional expenses | $2,541,034 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,919,704 |
| Savings and temporary cash investments | $49,879 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50,613 |
| 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 | $11,956 |
| Net Land, buildings, and equipment | $1,302,002 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,089,385 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,423,539 |
| Accounts payable and accrued expenses | $287,547 |
| Grants payable | $0 |
| Deferred revenue | $1,300,900 |
| 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 | $1,588,447 |
| Net assets without donor restrictions | $3,835,092 |
| 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 | $5,423,539 |