Form 990 for tax year 2025
Filed by VIRGINIA ASSOCIATION OF REALTORS.
Totals
- Total revenue
- $10,504,790
- Total expenses
- $8,731,900
- Contributions and grants received
- $0
- Grants paid
- $376,402
- Program service revenue
- $8,228,016
- Investment income
- $2,203,895
- Other revenue
- $72,879
- Total assets, end of year
- $27,161,530
- Total liabilities, end of year
- $5,789,814
- Net assets or fund balances, end of year
- $21,371,716
- 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.
-
2a · Program service revenue: MEMBERSHIP DUES
total $7,672,106 · related or exempt $7,672,106
-
2b · Program service revenue: CONFERENCES/CONVENTION
total $377,990 · related or exempt $377,990
-
2c · Program service revenue: ADMINISTRATIVE FEES
total $100,000 · related or exempt $100,000
-
2d · Program service revenue: COURSE FEES
total $77,920 · related or exempt $77,920
-
3 · Investment income
total $636,514 · related or exempt $636,514
-
5 · Royalties
total $72,879 · related or exempt $72,879
-
7a · Gross sales of assets other than inventory
securities $4,664,878
-
7b · Less cost or other basis and sales expenses
securities $3,097,497
-
7c · Gain or loss
securities $1,567,381
-
7d · Net gain or loss
total $1,567,381 · related or exempt $1,567,381
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $376,402
-
7 · Other salaries and wages
total $4,601,673
-
8 · Pension plan contributions
total $261,360
-
9 · Other employee benefits
total $404,558
-
10 · Payroll taxes
total $317,422
-
11c · Fees: accounting
total $26,230
-
11f · Fees: investment management
total $128,472
-
11g · Fees: other
total $38,822
-
12 · Advertising and promotion
total $114,034
-
13 · Office expenses
total $28,922
-
14 · Information technology
total $243,262
-
16 · Occupancy
total $130,070
-
17 · Travel
total $91,318
-
19 · Conferences, conventions and meetings
total $518,149
-
20 · Interest
total $23,070
-
21 · Payments to affiliates
total $545,103
-
22 · Depreciation, depletion and amortization
total $125,913
-
23 · Insurance
total $43,833
-
24a · Other expenses: MISCELLANEOUS
total $395,021
-
24b · Other expenses: MERCHANT BANK FEES
total $193,987
-
24c · Other expenses: CONTRACT HELP
total $65,052
-
24d · Other expenses: BOARD AND OFFICER
total $59,227
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $500 · end of year $499
-
2 · Savings and temporary cash investments
beginning of year $5,278,465 · end of year $5,888,305
-
4 · Accounts receivable
beginning of year $13,661 · end of year $8,399
-
9 · Prepaid expenses and deferred charges
beginning of year $160,677 · end of year $132,246
-
10a · Land, buildings and equipment: cost or other basis
$4,365,249
-
10b · Land, buildings and equipment: accumulated depreciation
$3,396,880
-
10c · Land, buildings and equipment, net
beginning of year $1,102,784 · end of year $968,369
-
11 · Investments: publicly traded securities
beginning of year $18,981,258 · end of year $19,672,417
-
15 · Other assets
beginning of year $462,612 · end of year $491,295
-
17 · Accounts payable and accrued expenses
beginning of year $529,405 · end of year $175,658
-
19 · Deferred revenue
beginning of year $5,047,048 · end of year $5,113,737
-
25 · Other liabilities
beginning of year $587,975 · end of year $500,419
-
27 · Net assets without donor restrictions
beginning of year $19,835,529 · end of year $21,371,716
Mission and programs · 2025
Mission
THE ORGANIZATION WAS ORGANIZED TO UNITE ITS MEMBERSHIP IN ACTIVITIES TO EFFECTIVELY EXERT A COMBINED INFLUENCE UPON MATTERS AFFECTING THE REAL ESTATE INDUSTRY, TO ELEVATE THE STANDARDS OF THE REAL ESTATE INDUSTRY THROUGHOUT THE STATE AND TO PROMOTE THE PROFESSIONAL AND ETHICAL CONDUCT OF PERSONS ENGAGED THEREIN, AND TO PROMOTE THE COMMON BUSINESS INTERESTS OF THE REAL ESTATE INDUSTRY. IN FURTHERANCE OF THESE EXEMPT PURPOSES THE ASSOCIATION PROVIDES EDUCATION AND PROGRAMS SPECIFIC TO THE INDUSTRY, SPONSORS THE ANNUAL CONVENTION, DEVELOPS AND UPDATES FORMS THAT REFELCT VIRGINIA LAW AS IT RELATES TO THE REAL ESTATE INDUSTRY, AND ACTS AS A LIASON BETWEEN VIRGINIA REALTORS AND STATE GOVERNMENT.
Activities or mission (Part I)
THE ASSOCIATION SHALL BE A NON PROFIT CORPORATION HAVING THE PURPOSE, IN CONCERT WITH ITS MISSION ASSOCIATIONS, TO ENHANCE THE ABILITY OF ITS MEMBERS TO ACHIEVE CAREER SUCCESS IN AN ETHICAL AND PROFESSIONAL MANNER AND TO PROMOTE AND PROTECT PRIVATE PROPERTY RIGHTS.
-
THE ASSOCIATION PROVIDES EDUCATION AND TOOLS SPECIFIC TO THE REAL ESTATE INDUSTRY, HOSTED MULTIPLE EVENTS THROUGHOUT THE YEAR, AND ACTED AS A LIASON BETWEEN REALTORS AND THE STATE GOVERNMENT, ADVOCATING ON BEHALF OF THE MEMBERSHIP.
As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Lorraine AroraLORRAINE ARORA
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Curt ReichstetterCURT REICHSTETTER
PRESIDENT - ELECT
- Total calculated
- $0
- Hours/week
- 2
-
Sherry MaserSHERRY MASER
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Diron ClementsDIRON CLEMENTS
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Guy AllenGUY ALLEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mary Ann BursteinMARY ANN BURSTEIN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Nicole CanoleNICOLE CANOLE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Reggie CopelandREGGIE COPELAND
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Michelle DohertyMICHELLE DOHERTY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Charles EdmondsCHARLES EDMONDS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mary EllsworthMARY ELLSWORTH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
John FinnJOHN FINN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Rachel FosterRACHEL FOSTER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Andrew FristoeANDREW FRISTOE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Kelly GriffinKELLY GRIFFIN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Lynn GrimsleyLYNN GRIMSLEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Cynthia Hawks WhiteCYNTHIA HAWKS WHITE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Cynthia HornsbyCYNTHIA HORNSBY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Vonda LaceyVONDA LACEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Gary Lange JrGARY LANGE JR
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Kaera MimsKAERA MIMS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Tamar Myers-MoffattTAMAR MYERS-MOFFATT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Chandra PattersonCHANDRA PATTERSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Donna PattonDONNA PATTON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Traci ShobergTRACI SHOBERG
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Karen SmithKAREN SMITH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Derrick SwaakDERRICK SWAAK
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Richard LuggRICHARD LUGG
CEO
- Total calculated
- $400,970
- From this org
- $366,379
- From related orgs
- $0
- Other
- $34,591
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $361,379
- Bonus
- $5,000
- Other
- $0
- Deferred
- $20,673
- Nontaxable benefits
- $13,918
- Filer's total
- $400,970
-
Adam SmithADAM SMITH
CHIEF PROGRAMS OFFICER
- Total calculated
- $242,177
- From this org
- $219,798
- From related orgs
- $0
- Other
- $22,379
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $214,798
- Bonus
- $5,000
- Other
- $0
- Deferred
- $13,212
- Nontaxable benefits
- $9,167
- Filer's total
- $242,177
-
Mary LawsonMARY LAWSON
CHIEF LOBBYIST
- Total calculated
- $235,842
- From this org
- $212,273
- From related orgs
- $0
- Other
- $23,569
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $199,273
- Bonus
- $13,000
- Other
- $0
- Deferred
- $12,762
- Nontaxable benefits
- $10,807
- Filer's total
- $235,842
-
Ryan PriceRYAN PRICE
SENIOR VP / CHIEF ECONOMIST
- Total calculated
- $234,384
- From this org
- $212,273
- From related orgs
- $0
- Other
- $22,111
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $199,273
- Bonus
- $13,000
- Other
- $0
- Deferred
- $12,482
- Nontaxable benefits
- $9,629
- Filer's total
- $234,384
-
Stephen DaleySTEPHEN DALEY
SENIOR VP / MARKETING AND MEMBERSHIP
- Total calculated
- $190,560
- From this org
- $167,823
- From related orgs
- $0
- Other
- $22,737
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $154,823
- Bonus
- $13,000
- Other
- $0
- Deferred
- $10,089
- Nontaxable benefits
- $12,648
- Filer's total
- $190,560
-
Erin KormanERIN KORMAN
GENERAL COUNSEL/ CHIEF ADVOCACY OFFICER
- Total calculated
- $236,359
- From this org
- $211,737
- From related orgs
- $0
- Other
- $24,622
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $191,737
- Bonus
- $20,000
- Other
- $0
- Deferred
- $12,726
- Nontaxable benefits
- $11,896
- Filer's total
- $236,359
-
Martin JohnsonMARTIN JOHNSON
CHIEF EXTERNAL AFFAIRS OFFICER
- Total calculated
- $318,358
- From this org
- $300,050
- From related orgs
- $0
- Other
- $18,308
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $295,050
- Bonus
- $5,000
- Other
- $0
- Deferred
- $7,210
- Nontaxable benefits
- $11,098
- Filer's total
- $318,358
-
Terrie SuitTERRIE SUIT
FORMER CEO
- Total calculated
- $318,750
- From this org
- $318,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- $318,750
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $318,750
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
- 3 · Written employment contract
- 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
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
-
REALTORS RELIEF FOUNDATION
$35,000
SUPPORT HOMEOWNERS DURING DISASTERS
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.
-
REALTORS' POLITICAL ACTION COMMITTEE OF VIRGINIA
527 · SUPPORTS POLITICAL CANDIDATES · VA
Provenance
- Return type
- form_990
- Tax year
- 2025
- Filed
- 15 April 2026
- IRS schema version
- 2025v4.1
- Source object
- 202631059349301548
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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