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Nonprofiteer
← MIBOR REALTOR ASSOCIATION INC

Form 990 for tax year 2023

Filed by MIBOR REALTOR ASSOCIATION INC.

Totals

Total revenue
$5,631,050
Total expenses
$5,327,623
Contributions and grants received
$3,142,187
Grants paid
$171,693
Program service revenue
$1,974,120
Investment income
$255,389
Other revenue
$259,354
Total assets, end of year
$11,919,169
Total liabilities, end of year
$5,563,835
Net assets or fund balances, end of year
$6,355,334
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $3,056,777

  • 1f · All other contributions, gifts and grants

    $85,410

  • 2a · Program service revenue: REIMBURSEMENT OF SHARED EXPENSES

    total $1,961,107 · unrelated business $1,961,107

  • 2b · Program service revenue: MEETINGS INCOME

    total $13,013 · related or exempt $13,013

  • 3 · Investment income

    total $192,980 · excluded $192,980

  • 5 · Royalties

    total $3,226 · excluded $3,226

  • 7a · Gross sales of assets other than inventory

    securities $775,942

  • 7b · Less cost or other basis and sales expenses

    securities $713,533

  • 7c · Gain or loss

    securities $62,409

  • 7d · Net gain or loss

    total $62,409 · excluded $62,409

  • 8a · Fundraising events: gross income

    $220,791

  • 8b · Fundraising events: direct expenses

    $150,475

  • 8c · Net income from fundraising events

    total $70,316 · excluded $70,316

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $165,005 · excluded $165,005

  • 11b · Other revenue: INCOME FROM K-1 PASS THROUGH

    total $20,807 · unrelated business $20,807

  • 11e · Other revenue, total

    $185,812

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $171,693

  • 5 · Compensation of officers, directors and key employees

    total $551,099

  • 7 · Other salaries and wages

    total $1,951,427

  • 8 · Pension plan contributions

    total $28,922

  • 9 · Other employee benefits

    total $476,652

  • 10 · Payroll taxes

    total $202,016

  • 11b · Fees: legal

    total $5,368

  • 11c · Fees: accounting

    total $22,185

  • 11g · Fees: other

    total $108,987

  • 12 · Advertising and promotion

    total $72,108

  • 13 · Office expenses

    total $287,488

  • 14 · Information technology

    total $205,383

  • 16 · Occupancy

    total $271,655

  • 17 · Travel

    total $115,625

  • 19 · Conferences, conventions and meetings

    total $194,167

  • 22 · Depreciation, depletion and amortization

    total $155,204

  • 23 · Insurance

    total $49,175

  • 24a · Other expenses: COMMUNITY DEVELOPMENT A

    total $206,697

  • 24b · Other expenses: MEMBER DEVELOPMENT AND

    total $176,613

  • 24c · Other expenses: STRATEGIC PLANNING EXPE

    total $36,464

  • 24d · Other expenses: HOUSING ASSISTANCE PROG

    total $12,500

  • 24e · All other expenses

    total $26,195

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,760,740 · end of year $4,948,445

  • 2 · Savings and temporary cash investments

    beginning of year $485,348 · end of year $508,720

  • 4 · Accounts receivable

    beginning of year $39,446 · end of year $18,814

  • 9 · Prepaid expenses and deferred charges

    beginning of year $14,876 · end of year $17,093

  • 10a · Land, buildings and equipment: cost or other basis

    $3,967,327

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,904,511

  • 10c · Land, buildings and equipment, net

    beginning of year $1,152,083 · end of year $1,062,816

  • 11 · Investments: publicly traded securities

    beginning of year $2,104,314 · end of year $2,522,120

  • 12 · Investments: other securities

    beginning of year $830,215 · end of year $643,628

  • 15 · Other assets

    beginning of year $1,446,078 · end of year $2,197,533

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,425,047 · end of year $4,203,089

  • 19 · Deferred revenue

    beginning of year $1,308,372 · end of year $1,360,746

  • 27 · Net assets without donor restrictions

    beginning of year $6,099,681 · end of year $6,355,334

Mission and programs · 2023

Mission

MIBOR REALTOR ASSOCIATION, INC. (MIBOR) FORMED FOR THE PURPOSE OF DISCOVERING AND PROMOTING ACTIVITIES IN THE BEST INTEREST OF THE COMMUNITY AND OF ITS MEMBERS WITH RESPECT TO REAL PROPERTY, ITS OWNERSHIP AND USE, TOWARD PROVIDING A BETTER COMMUNITY IN WHICH TO LIVE AND WORK. ITS ACTIVITIES INCLUDE DEVELOPING AND PUBLICIZING THE BENEFITS INHERENT IN OWNERSHIP OF REAL PROPERTY, FACILITATING ITS EXCHANGE, DEVELOPMENT, MANAGEMENT, FINANCING, AND CONSTRUCTION; ASSEMBLING AND DISSEMBLING INFORMATION PERTINENT TO ALL PHASES OF REAL PROPERTY OWNERSHIP AND ACTIVITY; REQUIRING A HIGH STANDARD OF ETHICS; IMPROVING STANDARDS OF PRACTICE; PROMOTING COOPERATION AND STIMULATING EDUCATION ON THE PART OF ALL THOSE WHOSE BUSINESS ACTIVIITY RELATES TO REAL PROPERTY. MIBOR PARTICIPATES IN CIVIC ACTIVITY RELATING TO REAL PROPERTY, INCLUDING BUT NOT LIMITED TO PLANNING, ZONING, TAXATION, AND URBAN RENEWAL.

Activities or mission (Part I)

TO PROVIDE A PROFESSIONAL, SUPPORTIVE ENVIRONMENT FOR REAL ESTATE PROFESSIONALS IN INDIANA.

  • PROMOTE IMPORTANCE AND VALUE OF UTILIZING A REALTOR IN A REAL ESTATE TRANSACTION BECAUSE OF HIS OR HER KNOWLEDGE AND EXPERTISE.

  • TO HELP CREATE A HEALTHY REAL ESTATE MARKET BY SUPPORTING ORGANIZATIONS WHO:1. HELP CREATE A STRONG WORKFORCE2. DEVELOP HEALTHY COMMUNITIES3. IMPROVE AWARENESS OF HOUSING OPPORTUNITIES AND ISSUES

  • EDUCATE AND INFORM MEMBERS ABOUT REAL ESTATE ETHICS AND OTHER ISSUES TO HELP ENABLE AN ORDERLY MARKETPLACE FOR REAL ESTATE TRANSACTIONS.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Clay Bowden

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • Anne Caruso

    PRESIDENT ELECT

    Total calculated
    $0
    Hours/week
    0

  • Dustin Sickinger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Keith Turnbill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Glenn Bill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Steve Thompson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Lee Ann Balta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Tiamia Reese

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Robyn Breece

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Jerrod Klein

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Justin Strange

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Natalie Hightower

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Shelley Specchio

    CEO

    Total calculated
    $385,646
    From this org
    $327,497
    From related orgs
    $0
    Other
    $58,149
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $274,078
    Bonus
    $41,419
    Other
    $12,000
    Deferred
    $19,650
    Nontaxable benefits
    $38,499
    Filer's total
    $385,646

  • Dwayne McCoy

    PRIOR CHIEF FINANCIAL OFFICER

    Total calculated
    $121,994
    From this org
    $96,116
    From related orgs
    $0
    Other
    $25,878
    Hours/week
    40

  • Sherri Reagin

    CHIEF FINANCIAL OFFICER

    Total calculated
    $43,460
    From this org
    $39,333
    From related orgs
    $0
    Other
    $4,127
    Hours/week
    40

  • Christopher Pryor

    VP - GOVT AND COMMUNICATION

    Total calculated
    $213,840
    From this org
    $165,657
    From related orgs
    $0
    Other
    $48,183
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,157
    Bonus
    $6,500
    Other
    $12,000
    Deferred
    $9,939
    Nontaxable benefits
    $38,244
    Filer's total
    $213,840

  • Jeanette Langford

    VP - PROFESSIONAL SERVICES

    Total calculated
    $152,786
    From this org
    $117,731
    From related orgs
    $0
    Other
    $35,055
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $101,231
    Bonus
    $16,500
    Other
    $0
    Deferred
    $7,064
    Nontaxable benefits
    $27,991
    Filer's total
    $152,786

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
MIBOR REALTOR ASSOCIATION, INC. PAYS, AS NON-TAXABLE COMPENSATION, A PORTION OF SOCIAL CLUB DUES FOR ITS CEO.
PART I, LINE 1B
PARTIAL PAYMENTS OF SOCIAL CLUB DUES ARE REIMBURSED ACCORDING TO THE CEO'S EMPLOYMENT CONTRACT.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • MIBOR FOUNDATION INC

    501(C)3 · SEE SCHEDULE O · IN

  • RPAC

    527 · REPRESENTATION OF MEMBERS AT THE FEDERAL, STATE AND LOCAL LEVEL · IN

  • MPAC

    527 · REPRESENTATION OF MEMBERS AT THE FEDERAL, STATE AND LOCAL LEVEL · IN

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • MIBOR SERVICE CORPORATION

    C · SEE SCHEDULE O · IN · 100% owned · share of income -$186,587 · share of assets $3,953,351 · controlled entity

    Directly controlled by MIBOR REALTOR ASSOCIATION INC

Provenance

Return type
form_990
Tax year
2023
Filed
29 August 2024
IRS schema version
2023v5.1
Source object
202432549349301708

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