Wilmington Apartment Association Inc
- Assets
- $127.6k
- Revenue
- $252.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Wilmington, NC
- Founding
- Data as of
- 12/2022
- EIN
- 82-4404554
Organization Overview
Wilmington Apartment Association Inc is located in Wilmington, NC. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wilmington Apartment Association 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 12/2022, Wilmington Apartment Association Inc generated $252.5k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $272.4k during the year ending 12/2022. 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
THE WAA IS SOUTHEASTERN NORTH CAROLINA'S BEST RESOURCE FOR THE MULTI-FAMILY INDUSTRY. WE PROVIDE TRAINING, NETWORKING OPPORTUNITIES, AND OTHER RESOURCES TO THE APARTMENT COMMUNITIES AND VENDORS. WE STRIVE TO OFFER THE BEST SUPPORT WE POSSIBLY CAN TO ALLOW THE INDUSTRY IN THE AREA TO GROW AND FLOURISH. THE WAA SERVES WILMINGTON, JACKSONVILLE, AND SOUTHEASTERN NORTH CAROLINA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE EVENTS WHERE INDUSTRY PROFESSIONALS CAN MEET EACH OTHER, EXCHANGE IDEAS, LEARN ABOUT NEW LEGISLATION, AND NEW PRODUCTS AND SERVICES AVAILABLE.
TO PROVIDE EDUCATIONAL OPPORTUNITIES FOR PROPERTY MANAGEMENT PROFESSIONALS AND THEIR STAFF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Krysti Keser President | OfficerTrustee | 1 | $0 |
Karen Spaid Vice President | OfficerTrustee | 1 | $0 |
Doriane Murray Treasurer | OfficerTrustee | 1 | $0 |
Haley Philip Secretary | OfficerTrustee | 1 | $0 |
Amy Ritchy Board Member | Trustee | 1 | $0 |
Chris Loebsack Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $128,126 |
| 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 | $128,126 |
| Total Program Service Revenue | $100,213 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $21,637 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $2,481 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $252,457 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $53,885 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,597 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,146 |
| Advertising and promotion | $4,436 |
| Office expenses | $23,568 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,847 |
| Travel | $22,725 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $107,018 |
| Interest | $82 |
| Payments to affiliates | $38,186 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,236 |
| All other expenses | $9,078 |
| Total functional expenses | $272,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,733 |
| Savings and temporary cash investments | $79,906 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $127,639 |
| 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 | $3,510 |
| Total liabilities | $3,510 |
| 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 | $124,129 |
| Total liabilities and net assets/fund balances | $127,639 |