Montgomery Area Association Of Realtors
- Assets
- $3.8m
- Revenue
- $535.0k
- Investments
- $1.0k
- Employees
- 0
- Location
- Montgomery, AL
- Founding
- 10/1968
- Data as of
- 12/2022
- EIN
- 63-0378536
Organization Overview
Montgomery Area Association Of Realtors is located in Montgomery, AL. The organization was established in 1968. According to its NTEE Classification (L03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montgomery Area 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, Montgomery Area Association Of Realtors generated $535.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $611.2k during the year ending 12/2022. While expenses have increased by 5.8% 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 THE REAL ESTATE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE A UNIFIED MEDIUM TO PROMOTE THE REAL ESTATE INDUSTRY IN THE MONTGOMERY AREA BY PROVIDING INFORMATION AND EDUCATIONAL COURSES FOR ITS MEMBERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Renee Bledsoe Director | Trustee | 0 | $0 |
Barbara Bonds Director | Trustee | 0 | $0 |
Robin Davies Director | Trustee | 0 | $0 |
Jean Forbus Director | Trustee | 0 | $0 |
Lara Graham Director | Trustee | 0 | $0 |
Hayden Hudson Director | Trustee | 0 | $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 | $907,061 |
| Investment income | $26,438 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$121,393 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$282,886 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $534,982 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $250 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,628 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,652 |
| Fees for services: Accounting | $16,246 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,714 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $64,784 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,671 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $156,132 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,629 |
| Insurance | $5,384 |
| All other expenses | $32,435 |
| Total functional expenses | $611,227 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $428,163 |
| Savings and temporary cash investments | $16,005 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $969,683 |
| 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 | $59,446 |
| Net Land, buildings, and equipment | $599,186 |
| Investments—publicly traded securities | $1,734,179 |
| Investments—other securities | $1,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,807,662 |
| Accounts payable and accrued expenses | $530,984 |
| Grants payable | $0 |
| Deferred revenue | $559,732 |
| 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 | $1,090,716 |
| Net assets without donor restrictions | $2,716,946 |
| 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 | $3,807,662 |
Grants Awarded
Over the last fiscal year, Montgomery Area Association Of Realtors has awarded $210,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LEAD EDUCATION FOUNDATION PURPOSE: TO PROMOTE THE EFFORTS OF THE LEAD ACADEMY CHARTER SCHOOL IN MONTGOMERY ALABAMA | $200,000 |
WETUMPKA POLICE DEPARTMENT PURPOSE: DISASTER RELIEF SUPPORT FOR WETUMPKA, ALABAMA TORNADO DAMAGE | $10,000 |