Institute Of Real Estate Management Of The National Association Of Rea
- Assets
- $309.5k
- Revenue
- $270.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Addison, TX
- Founding
- 08/1976
- Data as of
- 12/2021
- EIN
- 75-2354417
Organization Overview
Institute Of Real Estate Management Of The National Association Of Rea is located in Addison, TX. The organization was established in 1976. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Institute Of Real Estate Management Of The National Association Of Rea employed 2 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Institute Of Real Estate Management Of The National Association Of Rea 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, Institute Of Real Estate Management Of The National Association Of Rea generated $270.6k 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 (4.5%) each year. All expenses for the organization totaled $304.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.0%) 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
PROVIDE A FORUM FOR FURTHERING THE GROWTH AND PROFESSIONALISM OF THE PROPERTY MANAGEMENT INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHAPTER WORKS WITH CERTIFIED PROPERTY MANAGER (CPM) CANDIDATES TO ACHIEVE THIS PROFESSIONAL CERTIFICATION. WITHIN THE DALLAS CHAPTER, 4 CANDIDATES WERE CERTIFIED IN 2021. THE DALLAS CHAPTER ALSO HAD 1 MEMBER BECOME AN ACCREDITED RESIDENTIAL MANAGER (ARM),AND 3 MEMBERS BECOME ACCREDITED COMMERCIAL MANAGERS (ACOM). THE CHAPTER ALSO HOLDS EDUCATIONAL SEMINARS AND CONTINUING EDUCATION CLASSES.
IREM DALLAS CHAPTER NO. 14 SERVES ITS APPROXIMATELY 456 MEMBERS WITH A VARIETY OF MEMBERSHIP MEETINGS PROVIDING A FORUM FOR THE EXCHANGE OF INFORMATION CONCERNING REAL ESTATE PROPERTY MANAGEMENT, INCLUDING 15 VIRTUAL NETWORKING EVENTS, 10 VIRTUAL EDUCATIONAL SEMINARS, 5 IN-PERSON LUNCH & LEARN EVENTS, 3 IN-PERSON NETWORKING EVENTS, A VIRTUAL COLLEGE CASE COMPETITION, A 21 DAY SOCIAL MEDIA/NEWSLETTER DIVERSITY CHALLENGE, AND OUR ANNUAL GOLF TOURNAMENT. THE ORGANIZATION'S MISSION IS TO PROVIDE A FORUM FOR FURTHERING THE GROWTH AND PROFESSIONALISM OF THE PROPERTY MANAGEMENT INDUSTRY. THE DALLAS CHAPTER ALSO PARTICIPATES IN REGIONAL AND NATIONAL MEETINGS OF THE NATIONAL IREM ORGANIZATION. DUE TO THE COVID-19 PANDEMIC, NOT ALL OF THESE EVENTS OCCURRED IN 2021.
THE CHAPTER CREATES A WEEKLY ONLINE PUBLICATION WHICH IS DISTRIBUTED TO ITS APPROXIMATELY 456 MEMBERS TO HELP REAL ESTATE MANAGERS PROSPER AND ADD VALUE TO THEIR COMPANIES AND THE PROPERTIES THEY MANAGE. THE NEWSLETTER IS SENT TO 772 RECIPIENTS IN TOTAL. THE WEEKLY ONLINE PUBLICATION IS AN EDUCATIONAL FORUM/MEMBER BENEFIT PUBLICATION THAT PROMOTES REAL ESTATE MANAGEMENT EDUCATION, CHAPTER ACTIVITIES AND VOLUNTEER RECOGNITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristin Hiett Executive Dir. | Officer | 48 | $107,429 |
Z Young Past President | OfficerTrustee | 3 | $0 |
Susan Heath Sec/treas | OfficerTrustee | 3 | $0 |
Amanda Eller President | OfficerTrustee | 5 | $0 |
Sharon Simmons President Elect | OfficerTrustee | 3 | $0 |
Michelle Morris Vice President | 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 | $134,995 |
| Investment income | $13,419 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,882 |
| Net Income from Fundraising Events | $36,444 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $270,603 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,545 |
| 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. | $107,429 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $56,237 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,548 |
| Payroll taxes | $12,660 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $50 |
| Fees for services: Accounting | $4,536 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,050 |
| Information technology | $157 |
| Royalties | $0 |
| Occupancy | $40,461 |
| Travel | $5,014 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,928 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,577 |
| All other expenses | $8,885 |
| Total functional expenses | $304,315 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,180 |
| Savings and temporary cash investments | $59,193 |
| 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 | $3,151 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $209,323 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,663 |
| Total assets | $309,510 |
| Accounts payable and accrued expenses | $9,515 |
| 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 | $35,386 |
| Total liabilities | $44,901 |
| Net assets without donor restrictions | $264,609 |
| 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 | $309,510 |