Mississippi Association Of Realtors Incorporated
- Assets
- $7.4m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 11
- Location
- Jackson, MS
- Founding
- 11/1973
- Data as of
- 12/2023
- EIN
- 64-0473679
Organization Overview
Mississippi Association Of Realtors Incorporated is located in Jackson, MS. The organization was established in 1973. 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, Mississippi Association Of Realtors Incorporated employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mississippi Association Of Realtors Incorporated 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, Mississippi Association Of Realtors Incorporated generated $2.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $2.3m during the year ending 12/2023. While expenses have increased by 4.9% per year over the past 9 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 BUSINESS ADVOCATE FOR MISSISSIPPI REAL ESTATE PROFESSIONALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION - THE MS REALTOR INSTITUTE, THE ASSOCIATION'S EDUCATION DIVISION, PROVIDES MORE THAN 100 COURSES FOR PRE, POST, CONTINUING, AND PROFESSIONAL DESIGNATION REAL ESTATE EDUCATION VIA CLASSROOM AND ONLINE COURSES TO APPROXIMATELY 3,700 STUDENTS ANNUALLY. COURSES ARE OFFERED AT THE ASSOCIATION'S HEADQUARTERS AND IN VARIOUS LOCATIONS THROUGHOUT THE STATE AS WELL AS ONLINE. THE PURPOSE OF THE REAL ESTATE SCHOOL IS TO PROVIDE THE LEARNING TOOLS AND TRAINING THAT REAL ESTATE PROFESSIONALS NEED FOR THE COURSE OF THEIR CAREER. COURSES INCLUDE MARKETING, TECHNOLOGY, LICENSE LAW, AGENCY LAW, CONTRACT LAW, REAL ESTATE EXAM PREPARATION, HOME INSPECTION, AND OTHER TIMELY TOPICS.
MEETING/EVENTS - THE MS ASSOCIATION OF REALTORS HOLDS VARIOUS EVENTS THOUGHOUT EACH YEAR TO RAISE AWARENESS OF ISSUES IMPORTANT TO THE REAL ESTATE BUSINESS. SUCH EVENTS INCLUDE A REALTOR DAY AT THE CAPITOL WHERE MORE THAN 300 REALTORS VISIT WITH THEIR STATE LEGISLATORS ON ISSUES IMPACTING THEIR BUSINESS; AN ANNUAL CONVENTION AND EXPO WHERE MORE THAN 700 REALTORS, SPONSORS, AND EXHIBITORS GATHER FOR CONTINUING EDUCATION, NETWORKING, AND FORUMS FOR EXCHANGING IDEAS AND BEST PRACTICES. OTHER SMALLER FORUMS, WORK GROUPS, COMMITTEES, AND TASK FORCES MEET THROUGHOUT THE YEAR TO CARRY FORTH THE BUSINESS OF THE ORGANIZATION IN THE AREAS OF ASSOCIATION OPERATIONS, MEMBER SERVICES AND TECHNOLOGY, STANDARD FORMS AND CONTRACTS, PROFESSIONAL STANDARDS, PROFESSIONAL DEVELOPMENT, AND LEGISLATIVE AND REGULATORY AFFAIRS.
PUBLICATIONS - THE ASSOCIATION PUBLISHES A QUARTERLY MAGAZINE DISTRIBUTED TO ALL 7,400+ MEMBERS OF THE ASSOCIATION AS WELL AS STATEWIDE ELECTED LEADERS. THE PUBLICATION FEATURES TIMELY ARTICLES ON MISSISSIPPI REAL ESTATE AND FEATURES MISSISSIPPI REALTORS AS SUBJECTS OF THE ARTICLES AND AS GUEST WRITERS. THE PURPOSE OF THE MAGAZINE IS TO SERVE AS THE PRIMARY COMMUNICATION VEHICLE WITH THE ORGANIZATION'S MEMBERS AND TO PROVIDE A FORUM FOR EXCHANGING BEST PRACTICES, RISK MANAGEMENT TOOLS, NEWS AND TOPICAL INFORMATION THAT IS RELEVANT TO A PRACTICING REALTOR IN MISSISSIPPI. THE ASSOCIATION HAS A MYRIAD OF OTHER COMMUNICATION VEHICLES INCLUDING A MONTHLY ASSOCIATION ELECTRONIC NEWSLETTER, WEEKLY BROKER AND ROOKIE REALTOR ELECTRONIC NEWSELETTERS, AND A SERIES OF MONTHLY WEBINARS FOR BROKERS, ROOKIES, AND THE MEMBERSHIP AS A WHOLE. THE PURPOSE OF THESE ELECTRONIC OUTREACH TOOLS IS TO ENGAGE THE MEMBERS IN A DIALOGUE ABOUT TIMELY TOPICS OF INTEREST AND TO PROVIDE RELEVANT INFORMATION AND SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth Hansen Chief Exec. | OfficerTrustee | 40 | $132,172 |
William Fulton Chief Fin. O | Officer | 40 | $111,033 |
Clarke Wise VP Of Govt R | Officer | 40 | $110,142 |
Gary Parker President | OfficerTrustee | 1 | $0 |
Deshawn Davis 1st Vice Pre | OfficerTrustee | 1 | $0 |
Stephanie Cummins Treasurer | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,300,457 |
| Investment income | $165,206 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,535 |
| Net Gain/Loss on Asset Sales | $32 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,503,980 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $35,000 |
| 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. | $385,593 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $529,159 |
| Pension plan accruals and contributions | $12,853 |
| Other employee benefits | $65,691 |
| Payroll taxes | $68,589 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $66,790 |
| Fees for services: Accounting | $18,200 |
| Fees for services: Lobbying | $1,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $29,885 |
| Fees for services: Other | $92,947 |
| Advertising and promotion | $49,475 |
| Office expenses | $0 |
| Information technology | $34,511 |
| Royalties | $0 |
| Occupancy | $87,008 |
| Travel | $171,622 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,001 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $83,005 |
| Insurance | $12,674 |
| All other expenses | $177,378 |
| Total functional expenses | $2,256,016 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $130 |
| Savings and temporary cash investments | $2,453,889 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,700 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $18,886 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $867,981 |
| Investments—publicly traded securities | $3,978,270 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $65,809 |
| Total assets | $7,405,665 |
| Accounts payable and accrued expenses | $118,926 |
| Grants payable | $0 |
| Deferred revenue | $1,156,183 |
| 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 | $63,309 |
| Total liabilities | $1,338,418 |
| Net assets without donor restrictions | $6,067,247 |
| 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 | $7,405,665 |
Grants Awarded
Over the last fiscal year, Mississippi Association Of Realtors Incorporated has awarded $35,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
REALTORS RELIEF FOUNDATION PURPOSE: DISASTER RELIEF | $10,000 |
MS REALTOR DISASTER RELIEF FUND PURPOSE: DISASTER RELIEF | $25,000 |