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← KENTUCKY ASSOCIATION OF REALTORS

Form 990 for tax year 2022

Filed by KENTUCKY ASSOCIATION OF REALTORS.

Totals

Total revenue
$2,313,290
Total expenses
$2,541,034
Contributions and grants received
$0
Grants paid
$16,000
Program service revenue
$2,198,270
Investment income
$37,252
Other revenue
$77,768
Total assets, end of year
$5,423,539
Total liabilities, end of year
$1,588,447
Net assets or fund balances, end of year
$3,835,092
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 $1,991,742 · related or exempt $1,991,742

  • 2b · Program service revenue: CONVENTION

    total $202,348 · related or exempt $202,348

  • 2c · Program service revenue: BOARD LEADERSHIP CONFE

    total $4,180 · related or exempt $4,180

  • 3 · Investment income

    total $37,835 · excluded $37,835

  • 6a · Gross rents

    real property $44,460

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $44,460

  • 6d · Net rental income or loss

    total $44,460 · excluded $44,460

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

    securities $133 · other assets $450

  • 7c · Gain or loss

    securities -$133 · other assets -$450

  • 7d · Net gain or loss

    total -$583 · excluded -$583

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $11,974 · related or exempt $11,974

  • 11b · Other revenue: SUMMER EVENTS

    total $11,084 · related or exempt $11,084

  • 11c · Other revenue: LEADERSHIP

    total $9,000 · related or exempt $9,000

  • 11d · All other revenue

    total $1,250 · related or exempt $1,250

  • 11e · Other revenue, total

    $33,308

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $16,000

  • 5 · Compensation of officers, directors and key employees

    total $190,828

  • 7 · Other salaries and wages

    total $653,914

  • 8 · Pension plan contributions

    total $22,761

  • 9 · Other employee benefits

    total $82,367

  • 10 · Payroll taxes

    total $66,317

  • 11b · Fees: legal

    total $43,171

  • 11c · Fees: accounting

    total $24,200

  • 11d · Fees: lobbying

    total $72,372

  • 11f · Fees: investment management

    total $27,030

  • 11g · Fees: other

    total $14,921

  • 13 · Office expenses

    total $53,815

  • 14 · Information technology

    total $34,856

  • 16 · Occupancy

    total $34,160

  • 17 · Travel

    total $164,665

  • 19 · Conferences, conventions and meetings

    total $330,501

  • 22 · Depreciation, depletion and amortization

    total $60,496

  • 23 · Insurance

    total $5,220

  • 24a · Other expenses: SPECIAL PROJECTS

    total $224,344

  • 24b · Other expenses: EDUCATION/TRAINING

    total $83,892

  • 24c · Other expenses: ISSUES AND MOBILIZATION

    total $82,370

  • 24d · Other expenses: CEO SEARCH EXPENSE

    total $69,001

  • 24e · All other expenses

    total $183,833

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,717,147 · end of year $1,919,704

  • 2 · Savings and temporary cash investments

    beginning of year $285,567 · end of year $49,879

  • 4 · Accounts receivable

    beginning of year $18,133 · end of year $50,613

  • 9 · Prepaid expenses and deferred charges

    beginning of year $22,437 · end of year $11,956

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

    $1,665,630

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

    $363,628

  • 10c · Land, buildings and equipment, net

    beginning of year $1,353,500 · end of year $1,302,002

  • 12 · Investments: other securities

    beginning of year $2,566,329 · end of year $2,089,385

  • 17 · Accounts payable and accrued expenses

    beginning of year $127,738 · end of year $287,547

  • 19 · Deferred revenue

    beginning of year $1,218,720 · end of year $1,300,900

  • 27 · Net assets without donor restrictions

    beginning of year $4,616,655 · end of year $3,835,092

Mission and programs · 2022

Mission

TO PROMOTE UNITY AMONG REALTORS AND TO SUPPORT AND ENHANCE THE ABILITY OF LOCAL BOARD MEMBERS TO SUCCEED IN THEIR BUSINESS IN AN ETHICAL AND COMPETENT MANNER AND, THROUGH A UNITED VOICE, PRESERVE AND ENHANCE THE RIGHTS AND PRIVILEGES OF THE OWNERS OF PRIVATE PROPERTY.KENTUCKY REALTORS HELPS PROTECT A MARKETPLACE FOR CONSUMERS TO BUY, OWN AND TRANSFER REAL ESTATE - A SYSTEM THAT IS EMULATED GLOBALLY AND ONE THAT REALTORS DEDICATE THEMSELVES TO PROTECT.

Activities or mission (Part I)

TO PROMOTE UNITY AMONG REALTORS

  • ANNUAL CONVENTION - THE ASSOCIATION IS THE STATEWIDE ORGANIZATION FOR REALTORS AND HAS ABOUT 13,005 MEMBERS. OFFICERS AND DIRECTORS ARE SELECTED BY MEMBERS AT THE ANNUAL CONVENTION.

  • DIRECTORS AND COMMITTEE MEETINGS - DIRECTORS ESTABLISH ASSOCIATION POLICIES AND REVIEW FINANCIAL REPORTS AT QUARTERLY MEETINGS. THE ASSOCIATION IS ALSO REPRESENTED ON THE NATIONAL LEVEL AT THE NATIONAL CONVENTION.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Joshua Summers

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $190,828
    From this org
    $183,333
    From related orgs
    $0
    Other
    $7,495
    Hours/week
    39 + 1.25 related

    Schedule J breakdown matched by us

    Base
    $108,333
    Bonus
    $50,000
    Other
    $25,000
    Deferred
    $0
    Nontaxable benefits
    $7,495
    Filer's total
    $190,828

  • Cinda Hatfield

    CHIEF ADMINISTRATIVE OFFICER

    Total calculated
    $131,871
    From this org
    $113,750
    From related orgs
    $0
    Other
    $18,121
    Hours/week
    40

  • Mike Inman

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Pamela Featherstone

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Mike Spicer

    SENIOR V.P.

    Total calculated
    $0
    Hours/week
    1

  • Earlene W Woods

    SENIOR V.P.

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Barbara Flannery

    SENIOR V.P.

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Elizabeth Monarch

    PRESIDENT - ELECT

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Barbara Curtis

    TREASURER - ELECT

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Charles Hinckley

    IMMEDIATE PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Christie Moore

    REGION 1 DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Cindy Payne

    REGION 2 DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Annelizabeth Delahanty

    REGION 3 DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Donna Gregorich

    REGION 4 DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sue Ann Collins

    REGION 5 DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Brenda Gooslin

    REGION 6 DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Ron Brossart

    DIRECTOR AT LARGE

    Total calculated
    $0
    Hours/week
    1

  • Al Blevins

    DIRECTOR AT LARGE

    Total calculated
    $0
    Hours/week
    1

  • Linda Gibson Cecil

    DIRECTOR AT LARGE

    Total calculated
    $0
    Hours/week
    1

  • Angela R Clark

    DIRECTOR AT LARGE

    Total calculated
    $0
    Hours/week
    1

  • Karen Gross

    DIRECTOR AT LARGE

    Total calculated
    $0
    Hours/week
    1

  • Cathy Corbett

    DIRECTOR AT LARGE

    Total calculated
    $0
    Hours/week
    1

  • Dave L Parks Jr

    DIRECTOR AT LARGE

    Total calculated
    $0
    Hours/week
    1

  • Greg Crase

    DIRECTOR AT LARGE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Kimberly Sickles

    DIRECTOR AT LARGE

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

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 · Compensation committee
  • 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

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.

  • KENTUCKY REAL ESTATE EDUCATION FOUNDATION

    501(C)(3) · EDUCATION & SUPPORT FOR MEMBERS OF THE REAL ESTATE INDUSTRY · KY · controlled entity

    Directly controlled by KENTUCKY ASSOCIATION OF REALTORS INC

  • KENTUCKY REALTORS POLITICAL ACTION COMMITTEE

    527 · POLITICAL ACTION COMMITTEE FOR THE REAL ESTATE INDUSTRY · KY · controlled entity

    Directly controlled by KENTUCKY ASSOCIATION OF REALTORS INC

  • KENTUCKY REALTORS RELIEF FOUNDATION INC

    501(C)(3) · PROVIDE RELIEF FOR ECONOMIC HARDSHIP · KY · controlled entity

    Directly controlled by KENTUCKY ASSOCIATION OF REALTORS INC

Provenance

Return type
form_990
Tax year
2022
Filed
26 July 2023
IRS schema version
2022v5.0
Source object
202302199349300515

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