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Nonprofiteer
← VIRGINIA ASSOCIATION OF REALTORS

Form 990 for tax year 2022

Filed by VIRGINIA ASSOCIATION OF REALTORS.

Totals

Total revenue
$9,190,148
Total expenses
$8,733,573
Contributions and grants received
$0
Grants paid
$447,273
Program service revenue
$8,652,254
Investment income
$457,790
Other revenue
$80,104
Total assets, end of year
$23,514,556
Total liabilities, end of year
$5,760,641
Net assets or fund balances, end of year
$17,753,915
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 $8,038,562 · related or exempt $8,038,562

  • 2b · Program service revenue: CONFERENCES/CONVENTIONS

    total $510,776 · related or exempt $510,776

  • 2c · Program service revenue: COURSE FEES

    total $52,664 · related or exempt $52,664

  • 2d · Program service revenue: ADMINISTRATIVE FEES

    total $50,252 · related or exempt $50,252

  • 3 · Investment income

    total $326,422 · excluded $326,422

  • 5 · Royalties

    total $80,104 · excluded $80,104

  • 7a · Gross sales of assets other than inventory

    securities $3,946,272

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

    securities $3,814,904

  • 7c · Gain or loss

    securities $131,368

  • 7d · Net gain or loss

    total $131,368 · excluded $131,368

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $447,273

  • 7 · Other salaries and wages

    total $4,246,514

  • 9 · Other employee benefits

    total $549,222

  • 10 · Payroll taxes

    total $275,918

  • 11c · Fees: accounting

    total $23,050

  • 11d · Fees: lobbying

    total $100,300

  • 11f · Fees: investment management

    total $115,760

  • 11g · Fees: other

    total $47,372

  • 12 · Advertising and promotion

    total $99,847

  • 13 · Office expenses

    total $18,187

  • 14 · Information technology

    total $461,726

  • 16 · Occupancy

    total $232,305

  • 17 · Travel

    total $13,525

  • 19 · Conferences, conventions and meetings

    total $884,867

  • 21 · Payments to affiliates

    total $314,636

  • 22 · Depreciation, depletion and amortization

    total $167,779

  • 23 · Insurance

    total $42,097

  • 24a · Other expenses: BOARD AND OFFICER EXPEN

    total $242,297

  • 24b · Other expenses: MERCHANT / BANK FEES

    total $168,367

  • 24c · Other expenses: MISCELLANEOUS

    total $115,913

  • 24d · Other expenses: CONTRACT HELP

    total $115,474

  • 24e · All other expenses

    total $51,144

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $500 · end of year $500

  • 2 · Savings and temporary cash investments

    beginning of year $7,383,011 · end of year $6,427,220

  • 4 · Accounts receivable

    beginning of year $911 · end of year $43,120

  • 9 · Prepaid expenses and deferred charges

    beginning of year $220,175 · end of year $121,099

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

    $4,208,192

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

    $3,032,196

  • 10c · Land, buildings and equipment, net

    beginning of year $1,244,803 · end of year $1,175,996

  • 11 · Investments: publicly traded securities

    beginning of year $16,752,242 · end of year $15,070,435

  • 15 · Other assets

    beginning of year $0 · end of year $676,186

  • 17 · Accounts payable and accrued expenses

    beginning of year $246,918 · end of year $264,008

  • 19 · Deferred revenue

    beginning of year $4,783,546 · end of year $4,801,187

  • 25 · Other liabilities

    beginning of year $0 · end of year $695,446

  • 27 · Net assets without donor restrictions

    beginning of year $20,571,178 · end of year $17,753,915

Mission and programs · 2022

Mission

THE ASSOCIATION 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 REFLECT 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 MEMBER 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 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DENISE RAMEY

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • KATRINA SMITH

    PRESIDENT-ELECT

    Total calculated
    $0
    Hours/week
    2

  • THOMAS CAMPBELL

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • LORRAINE ARORA

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • BETH DALTON

    IMMEDIATE PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • EDWARD ATIYEH

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • DEBORAH BAXTER

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • QUINTON BECKHAM

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • ROBYN BURDETT

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • MARGARET BURKE

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • DIRON CLEMENTS

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • ROBERT DAWSON

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • ANGELICA DELBOY

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • ANDREW FRISTOE

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • ELIZABETH GRANT

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • KIT HALE

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • KAREN HALL

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • BERNARD HAMANN

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • CYNTHIA HAWKS WHITE

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • KENNETH HENSLEY

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • BETTY KINGERY

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • VONDA LACEY

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • NICHOLAS LAGOS

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • SHERRY MASER

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • SHANE MCCULLAR

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • KAERA MIMS

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • TANYA MONROE

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • STEVEN OVERGARD

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • CHANDRA PATTERSON

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • NANCY PILAND

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • MAYRA PINEDA

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • CURT REICHSTETTER

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • KAREN SMITH

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • KEITH SMITH

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • NANCY STEORTS

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • PEGGY TODD

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • DALLISON VEACH

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • WILLIAM WIARD IV

    BOARD

    Total calculated
    $0
    Hours/week
    2

  • TERRIE SUIT

    CEO

    Total calculated
    $505,070
    From this org
    $484,627
    From related orgs
    $0
    Other
    $20,443
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $393,469
    Bonus
    $91,158
    Other
    $0
    Deferred
    $18,300
    Nontaxable benefits
    $2,143
    Filer's total
    $505,070

  • RICK LUGG

    COO/CFO

    Total calculated
    $336,061
    From this org
    $307,017
    From related orgs
    $0
    Other
    $29,044
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $262,017
    Bonus
    $45,000
    Other
    $0
    Deferred
    $17,761
    Nontaxable benefits
    $11,283
    Filer's total
    $336,061

  • MARTIN JOHNSON

    CHIEF EXPTERNAL AFFAIRS OFFICER

    Total calculated
    $314,389
    From this org
    $294,953
    From related orgs
    $0
    Other
    $19,436
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $259,953
    Bonus
    $35,000
    Other
    $0
    Deferred
    $10,216
    Nontaxable benefits
    $9,220
    Filer's total
    $314,389

  • MARY LAWSON

    SENIOR VP OF GOVERNMENT RELATIONS

    Total calculated
    $172,548
    From this org
    $155,192
    From related orgs
    $0
    Other
    $17,356
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,192
    Bonus
    $10,000
    Other
    $0
    Deferred
    $9,312
    Nontaxable benefits
    $8,044
    Filer's total
    $172,548

  • RYAN PRICE

    SENIOR VP/CHIEF ECONOMIST

    Total calculated
    $191,181
    From this org
    $182,900
    From related orgs
    $0
    Other
    $8,281
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,900
    Bonus
    $10,000
    Other
    $0
    Deferred
    $6,591
    Nontaxable benefits
    $1,690
    Filer's total
    $191,181

  • LAURA FARLEY

    SENIOR VP/GENERAL COUNSEL

    Total calculated
    $267,362
    From this org
    $245,000
    From related orgs
    $0
    Other
    $22,362
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $205,000
    Bonus
    $40,000
    Other
    $0
    Deferred
    $13,848
    Nontaxable benefits
    $8,514
    Filer's total
    $267,362

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

    $100,000

    SUPPORT UKRAINE

  • REALTORS RELIEF FOUNDATION

    $100,000

    SUPPORT HOMEOWNERS DURING DISASTERS

  • RICHMOND ASSOCIATION OF REALTORS

    $57,527

    SUPPORT LOCAL REAL ESTATE ISSUES - LEGAL

  • SOUTHSIDE VIRGINIA ASSOCIATION OF REALTORS

    $23,021

    SUPPORT LOCAL REAL ESTATE ISSUES - LEGAL

  • RICHMOND ASSOCIATION OF REALTORS

    $13,578

    SUPPORT LOCAL REAL ESTATE ISSUES - ISSUES

  • RICHMOND ASSOCIATION OF REALTORS

    $13,578

    SUPPORT LOCAL REAL ESTATE ISSUES - ISSUES

  • HAMPTON ROADS REALTORS ASSOCIATION

    $13,000

    SUPPORT LOCAL REAL ESTATE ISSUES - LEGAL

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.

Provenance

Return type
form_990
Tax year
2022
Filed
29 March 2023
IRS schema version
2022v5.0
Source object
202301309349304765

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