Detroit Lakes Area Board Of Realtors Inc
- Assets
- $611.2k
- Revenue
- $352.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Detroit Lakes, MN
- Founding
- 01/1985
- Data as of
- 12/2021
- EIN
- 41-1494784
Organization Overview
Detroit Lakes Area Board Of Realtors Inc is located in Detroit Lakes, MN. The organization was established in 1985. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Detroit Lakes Area Board Of Realtors Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Detroit Lakes Area Board Of Realtors Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Detroit Lakes Area Board Of Realtors Inc generated $352.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $274.2k during the year ending 12/2021. While expenses have increased by 3.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE HIGHEST ETHICAL AND PROFESSIONAL STANDARDS AND COOPERATION AMONG ITS MEMBERS. PROVIDE PRODUCTS, PROGRAMS AND SERVICES TO MEET THE EVOLVING NEEDS OF THE REAL ESTATE INDUSTRY AND ITS CONSUMERS. SERVE AS A LEADING ADVOCATE OF PRIVATE PROPERTY RIGHTS AND SUPPORT COMMUNITY INVOLVEMENT BY BUILDING AWARENESS AND PROVIDING PUBLIC EXPOSURE
Describe the Organization's Program Activity:
Part 3 - Line 4a
AGENT EDUCATION, MLS ACCESS, REALTOR SUPPORT, PROMOTE ETHICAL STANDARDS, SUPPORT COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kari Sahr Executive Director | 40 | $59,128 | |
Chris Nord Director | Trustee | 2 | $0 |
Bruce Zeller Past President | Trustee | 2 | $0 |
Leif Rogstad Director | Trustee | 2 | $0 |
Stacy Palmer Scott Director | Trustee | 2 | $0 |
Amber Bender President | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $351,694 |
| Investment income | $1,046 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $352,740 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $59,128 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,523 |
| Pension plan accruals and contributions | $1,699 |
| Other employee benefits | $0 |
| Payroll taxes | $4,785 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,598 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,079 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,905 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,127 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $230 |
| Insurance | $915 |
| All other expenses | $13,239 |
| Total functional expenses | $274,184 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $461,151 |
| Savings and temporary cash investments | $149,893 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $201 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $611,245 |
| Accounts payable and accrued expenses | $937 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $937 |
| Net assets without donor restrictions | $610,308 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $611,245 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Higher Ground Building Company St Paul, MN | $19,969,103 | $1,882,072 |
Greater Milwaukee Association Of Realtors Inc Milwaukee, WI | $7,902,612 | $2,380,526 |
Realtor Association Of The Sioux Empire Inc Sioux Falls, SD | $2,199,740 | $1,500,544 |
Realtors Associations Of Northeast Wisconsin Inc Appleton, WI | $6,876,231 | $1,366,137 |
Aase Haugen Properties Inc Decorah, IA | $9,431,612 | $1,162,340 |
Mrm North Campus Inc Milwaukee, WI | $19,031,963 | $894,597 |
St Ann Center Properties Inc Milwaukee, WI | $24,367,316 | $308,541 |
Sd Properties Inc Milwaukee, WI | $3,731,946 | $1,031,449 |
Education Minnesota Properties Inc St Paul, MN | $3,348,632 | $1,061,633 |
Smelc Holdings Inc Milwaukee, WI | $9,672,286 | $580,000 |
Uvlf Opportunities Inc Minneapolis, MN | $22,216 | $75,874 |
Fargo-Moorhead Area Assoc Of Realtors Fargo, ND | $2,902,093 | $879,931 |