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← CENTER FOR SPECIALIZED REALTOR EDUCATION INC

Form 990 for tax year 2023

Filed by CENTER FOR SPECIALIZED REALTOR EDUCATION INC.

Totals

Total revenue
$9,279,683
Total expenses
$9,063,613
Contributions and grants received
$0
Grants paid
$100,000
Program service revenue
$8,439,173
Investment income
$797,010
Other revenue
$43,500
Total assets, end of year
$27,241,815
Total liabilities, end of year
$3,375,609
Net assets or fund balances, end of year
$23,866,206
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

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 $3,790,862 · related or exempt $3,790,862

  • 2b · Program service revenue: EDUCATIONAL COURSES

    total $4,523,024 · related or exempt $4,523,024

  • 2c · Program service revenue: PUBLICATIONS AND SERVICE MATERIALS

    total $467 · related or exempt $467

  • 2d · Program service revenue: CONVENTIONS

    total $124,820 · related or exempt $124,820

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $930,416 · excluded $930,416

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $5,474,180 · other assets $9,394

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

    securities $5,606,432 · other assets $10,548

  • 7c · Gain or loss

    securities -$132,252 · other assets -$1,154

  • 7d · Net gain or loss

    total -$133,406 · excluded -$133,406

  • 11a · Other revenue: SPONSORSHIPS

    total $43,500 · excluded $43,500

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $43,500

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $100,000

  • 5 · Compensation of officers, directors and key employees

    total $561,050

  • 7 · Other salaries and wages

    total $2,056,609

  • 8 · Pension plan contributions

    total $119,490

  • 9 · Other employee benefits

    total $392,561

  • 10 · Payroll taxes

    total $179,089

  • 11b · Fees: legal

    total $131

  • 11c · Fees: accounting

    total $29,046

  • 11f · Fees: investment management

    total $72,355

  • 11g · Fees: other

    total $822,845

  • 12 · Advertising and promotion

    total $932,278

  • 13 · Office expenses

    total $750,807

  • 14 · Information technology

    total $1,435,980

  • 16 · Occupancy

    total $193,042

  • 17 · Travel

    total $158,246

  • 19 · Conferences, conventions and meetings

    total $787,838

  • 22 · Depreciation, depletion and amortization

    total $246,961

  • 24a · Other expenses: Course Development

    total $225,285

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,759,499 · end of year $6,564,802

  • 2 · Savings and temporary cash investments

    beginning of year $5,403,651 · end of year $5,755,868

  • 4 · Accounts receivable

    beginning of year $39,850 · end of year $41,199

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $182,250 · end of year $208,560

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

    $520,274

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

    $504,015

  • 10c · Land, buildings and equipment, net

    beginning of year $4,739 · end of year $16,259

  • 11 · Investments: publicly traded securities

    beginning of year $12,495,020 · end of year $13,875,810

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $1,025,417 · end of year $779,317

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,249,468 · end of year $1,289,223

  • 19 · Deferred revenue

    beginning of year $2,179,031 · end of year $2,086,386

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $22,481,927 · end of year $23,866,206

Mission and programs · 2023

Mission

The mission of the Center for REALTOR Development (CRD) is to promote the interest of members by creating and presenting educational programs; encouraging high standards through the creation/awarding of designations, certifications and degrees in real estate; and working with the NAR for the enactment of laws to advance interests of members.

Activities or mission (Part I)

To promote the common interest of its members by creating and presenting educational programs and encouraging high standards on the creation and awarding of designations, certifications and degrees in real estate.

  • THE ACCREDITED BUYER'S REPRESENTATIVE (ABR) DESIGNATION PROGRAM PROVIDES MEMBERS WITH VALUABLE REAL ESTATE EDUCATION TO ELEVATE SKILLS AND KNOWLEDGE IN THE EYES OF HOMEBUYERS AND ONGOING SPECIALIZED INFORMATION, PROGRAMS AND UPDATES THAT HELP MEMBERS TO STAY ON TOP OF ISSUES AND TRENDS TO SUCCESSFULLY REPRESENT HOMEBUYERS. IN ADDITION, MEMBERS RECEIVE MARKETING TOOLS (INCLUDING THE HOMEBUYERS TOOLKIT) TO ENHANCE SERVICES TO CLIENTS AND ACCESS TO MEMBERS ONLY RESOURCES AND PUBLICATIONS.

  • THE SENIOR REAL ESTATE SPECIALIST DESIGNATION PROGRAM PROVIDES MEMBERS WITH VALUABLE REAL ESTATE EDUCATION TO ELEVATE SKILLS AND KNOWLEDGE IN THE EYES OF OLDER-AMERICANS AND WITH ONGOING SPECIALIZED INFORMATION, PROGRAMS AND UPGRADES THAT HELP MEMBERS STAY ON TOP OF ISSUES AND TRENDS TO SUCCESSFULLY REPRESENT OLDER-AMERICANS. ALSO, SEVERAL OTHER EDUCATIONAL ELECTIVE OPTIONS ARE OFFERED AS A PART OF THE ACCREDITED BUYER'S REPRESENTATIVE DESIGNATION PROGRAM. THESE INCLUDE COURSES DESIGNED TO ENHANCE MEMBER TECHNICAL SKILLS, MANAGEMENT SKILLS AND REAL ESTATE SAVVY.

  • THE SHORT SALES AND FORECLOSURES CERTIFICATION PROGRAM EDUCATES MEMBERS ON HOW TO HELP SELLERS MANEUVER THE COMPLEXITIES OF SHORT SALES AS WELL AS HELP BUYERS PURSUE SHORT SALE AND FORECLOSURE OPPORTUNITIES BY PROVIDING PROPER TOOLS AND TRAINING THAT MEMBERS CAN USE TO BUILD THEIR BUSINESS FOR THE LONG-TERM.

  • The Pricing Strategy Advisor (PSA) certification program is specifically designed to enhance skills in pricing properties, creating CMAs, working with appraisers, and guiding clients through the anxieties and misperceptions they often have about home values. In this course students will learn to select appropriate comparables and make accurate adjustments to them, for use in developing home price opinions. Real estate professionals of all experience levels will enhance their skills of guiding sellers and buyers through the details of Comparative Market Analysis and the underlying pricing principles that inform them and interact effectively with appraisers.

  • INTRODUCTION OF THE MEMBERS EDGE LIVE EVENT. THIS ONE-DAY, HIGH-ENERGY CONFERENCE IS GEARED TOWARDS REALTORS WHO ARE EAGER TO LEARN HOW CUTTING-EDGE TECHNOLOGIES, THE LATEST INDUSTRY NEWS, AND NATIONAL ASSOCIATION OF REALTORS (NAR) RESOURCES CAN BENEFIT THEIR BUSINESS AND CLIENTS.

  • Introduction of the REALTOR Broker's Summit and NAR's Broker's Edge live event. The REALTOR Broker Summit offers an incredible two days of learning, exclusive insights, and networking opportunities. Stay on the cutting edge by discovering new technologies and business strategies from industry leaders. NAR's Broker's Edge is a one day event focused on learning, exclusive insights and networking opportunities for brokers.

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

Listed in Part VII

  • Bob Goldberg

    President (THRU 11/17/2023)

    Total calculated
    $3,059,724
    From this org
    $0
    From related orgs
    $3,002,748
    Other
    $56,976
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $2,353,681 related
    Bonus
    $0 + $642,400 related
    Other
    $0 + $6,667 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $23,976 related
    Filer's total
    $0 + $3,059,724 related

  • Marc Gould

    SECRETARY/TREASURER

    Total calculated
    $763,655
    From this org
    $0
    From related orgs
    $706,679
    Other
    $56,976
    Hours/week
    7.5 + 42.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $475,667 related
    Bonus
    $0 + $227,400 related
    Other
    $0 + $3,612 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $23,976 related
    Filer's total
    $0 + $763,655 related

  • Nykia Wright

    Interim President (BEG 11/20/2023)

    Total calculated
    $484,589
    From this org
    $0
    From related orgs
    $427,613
    Other
    $56,976
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $427,473 related
    Bonus
    $0
    Other
    $0 + $140 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $23,976 related
    Filer's total
    $0 + $484,589 related

  • Kenny Parcell

    BOARD MEMBER (THRU 8/28/2023)

    Total calculated
    $220,859
    From this org
    $0
    From related orgs
    $220,859
    Other
    $0
    Hours/week
    1 + 30 related

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $220,859 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $220,859 related

  • Tracy Kasper

    BOARD MEMBER (NAR President)

    Total calculated
    $281,494
    From this org
    $0
    From related orgs
    $281,494
    Other
    $0
    Hours/week
    1 + 30 related

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $281,494 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $281,494 related

  • Jennifer Rzeszewski

    VICE PRESIDENT AND EXECUTIVE DIRECTOR

    Total calculated
    $354,834
    From this org
    $300,780
    From related orgs
    $0
    Other
    $54,054
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $231,848
    Bonus
    $67,000
    Other
    $1,932
    Deferred
    $30,078
    Nontaxable benefits
    $23,976
    Filer's total
    $354,834

  • Dawn Headtke

    DIRECTOR OF BUSINESS AND INSTRUCTOR DEVELOPMENT

    Total calculated
    $206,216
    From this org
    $165,673
    From related orgs
    $0
    Other
    $40,543
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $153,427
    Bonus
    $10,900
    Other
    $1,346
    Deferred
    $16,567
    Nontaxable benefits
    $23,976
    Filer's total
    $206,216

  • Jennifer Billings

    DIRECTOR OF MARKETING AND EVENTS

    Total calculated
    $186,323
    From this org
    $147,588
    From related orgs
    $0
    Other
    $38,735
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $134,056
    Bonus
    $13,255
    Other
    $277
    Deferred
    $14,759
    Nontaxable benefits
    $23,976
    Filer's total
    $186,323

  • Kaitlin Eddy

    Director of Learning and Development

    Total calculated
    $180,305
    From this org
    $142,117
    From related orgs
    $0
    Other
    $38,188
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $128,565
    Bonus
    $13,390
    Other
    $162
    Deferred
    $14,212
    Nontaxable benefits
    $23,976
    Filer's total
    $180,305

  • Keisha Kidan

    Manager, Learning and Digital Design

    Total calculated
    $142,713
    From this org
    $107,943
    From related orgs
    $0
    Other
    $34,770
    Hours/week
    37.5

  • Suman Patil

    Manager, Learning and Development Programs

    Total calculated
    $149,688
    From this org
    $114,284
    From related orgs
    $0
    Other
    $35,404
    Hours/week
    37.5

  • Valerie Kendrick

    Director of Credentials and Operations

    Total calculated
    $183,061
    From this org
    $144,623
    From related orgs
    $0
    Other
    $38,438
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $134,738
    Bonus
    $9,465
    Other
    $420
    Deferred
    $14,462
    Nontaxable benefits
    $23,976
    Filer's total
    $183,061

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

None.

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)

Schedule J, Part I, Line 3
COMPENSATION FOR THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL IS ESTABLISHED BY NATIONAL ASSOCIATION OF REALTORS (NAR), A RELATED TAX-EXEMPT ORGANIZATION. NAR UTILIZES THE FOLLOWING METHODS TO DETERMINE THE TOP MANAGEMENT OFFICIAL'S COMPENSATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - COMPENSATION SURVEYS AND STUDIES - APPROVAL BY THE BOARD OF DIRECTORS

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

  • National Association of Realtors

    $50,000

    CORPORATE ALLY PROGRAM - ISSUES ADVOCACY CAMPAIGNS

  • REALTORS RELIEF FOUNDATION

    $50,000

    CHARITABLE CONTRIBUTION FOR DISASTER RELIEF

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.

  • NATIONAL ASSOCIATION OF REALTORS

    501(c)(6) · MEMBER SERVICES · IL

    Directly controlled by NA

  • LEONARD P REAUME MEMORIAL FOUNDATION

    501(c)(3) · EDUCATION · IL

    Directly controlled by NAR

  • NAR CONGRESSIONAL FUND

    527 · POLITICAL ACTIVITY · IL

    Directly controlled by NAR

  • REALTOR UNIVERSITY

    501(c)(3) · EDUCATION · IL

    Directly controlled by NAR

  • NAR FUND

    527 · POLITICAL ACTIVITY · IL

    Directly controlled by NAR

  • REALTORS RELIEF FOUNDATION

    501(c)(3) · HOUSING RELATED ASSISTANCE · IL

    Directly controlled by NAR

  • AMERICAN PROPERTY OWNERS ALLIANCE

    501(c)(4) · ADVANCING AND PROMOTING ISSUES OF CONCERN TO PROPERTY OWNERS THROUGHOUT AMERICA · DC

    Directly controlled by NAR

  • REALTORS POLITICAL ACTION COMMITTEE

    527 · POLITICAL ACTIVITY · IL

    Directly controlled by NAR

  • REALTOR FUND FOR GLOBAL ASSISTANCE

    501(c)(3) · HOUSING RELATED DISASTERS · IL

    Directly controlled by NAR

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • SENTRILOCK INTERNATIONAL LLC

    N/A · LOCKBOX SALES AND SUPPORT · OH

    Directly controlled by NA

  • REACH CANADA VENTURES 2020 LIMITED PARTNERSHIP

    N/A · INVESTMENT MANAGEMENT · IL

    Directly controlled by NA

Related corporations and trusts

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

  • REALTORS INFO NETWORK INC

    C Corporation · REAL ESTATE INFO · IL

    Directly controlled by NA

  • NATIONAL ASSOCIATION OF REALTORS BUSINESS ACTIVITIES CORPORATION AND SUBSID IARIES

    C Corporation · REAL ESTATE SERVICES · IL

    Directly controlled by NA

  • KEYNETICS LTD FKA CAS ONE HOLDINGS LIMITED

    C Corporation · LOCKBOX SALES · UK

    Directly controlled by NA

  • SENTRILOCK LLC

    C Corporation · Lockbox sales and support · OH

    Directly controlled by NA

  • REALTOR PROPERTY RESOURCE LLC

    C Corporation · PROPERTY DATABASE · IL

    Directly controlled by NA

  • SECOND CENTURY VENTURES LLC

    C Corporation · INVESTMENT MANAGEMENT · IL

    Directly controlled by NA

  • REACH ASEA PTY LTD (FDRE)

    C Corporation · INVESTMENT MANAGEMENT · IL

    Directly controlled by NA

  • REACH ASEA HOLDINGS PTY LTD (FDRE)

    C Corporation · INVESTMENT MANAGEMENT · IL

    Directly controlled by NA

  • REACH CANADA ACCELERATOR LTD (CFC)

    C Corporation · INVESTMENT MANAGEMENT · CA

    Directly controlled by NA

  • REACH UK ACCELERATOR LTD (CFC)

    C Corporation · INVESTMENT MANAGEMENT · UK

    Directly controlled by NA

  • REACH CANADA 2020 VENTURES LTD (CFC)

    C Corporation · INVESTMENT MANAGEMENT · CA

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
30 October 2024
IRS schema version
2023v5.1
Source object
202423049349300337

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