Institute Of Real Estate Management Of The Natl Assn Of Realtors
- Assets
- $247.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 08/1976
- Data as of
- 12/2022
- EIN
- 51-0204286
Organization Overview
Institute Of Real Estate Management Of The Natl Assn Of Realtors, operating under the name Chapter 40, is located in Charlotte, NC. The organization was established in 1976. 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. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Chapter 40 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 12/2022, Chapter 40 generated $128.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $134.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE OBJECTIVES OF THE INSTITUTE OF REAL ESTATE MANAGEMENT ARE TO ASSIST IN THE IMPLEMENTATION OF AND CARRYING OUT OF IT'S VARIOUS PROGARMS AND ACTIVITIES, AND ASSIST IN THE DEVELOPMENT OF TECHNICAL AND EDUCATIONAL MATERIAL FOR THE REAL ESTATE INDUSTRY.
Describe the Organization's Program Activity:
Part 3
PROVIDING OPPORTUNITIES FOR ADVANCEMENT IN THE REAL ESTATEMENT MANAGEMENT FIELD THROUGH THE USE OF MEETINGS, CONVENTIONS, AND TRADE SHOWS.
PROVIDING PUBLIC RELATIONS REGARDING THE REAL ESTATE MANAGEMENT INDUSTRY
EDUCATIONAL ACTIVITIES PROVIDED IN ORDER TO ENHANCE THE KNOWLEDGE OF REAL ESTATE MANAGERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chevalle Hardison President | 25 | $0 | |
Kimberly Loflin President Elect | 15 | $0 | |
Frank Sproviero Sec/treasurer | 20 | $0 | |
Amani Abdul Past President | 10 | $0 | |
Dan Ward Director | 5 | $0 | |
Garrett Scarborough Director | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $18,390 |
| Membership dues | $98,197 |
| Investment income | $5 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $11,284 |
| Other Revenue | $870 |
| Total Revenue | $128,746 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $49,919 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $11 |
| Other expenses | $84,443 |
| Total expenses | $134,373 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $247,132 |
| Other assets | $0 |
| Total assets | $247,132 |
| Total liabilities | $34,447 |
| Net assets or fund balances | $212,685 |
Grants Awarded
Over the last fiscal year, Institute Of Real Estate Management Of The Natl Assn Of Realtors has awarded $29,138 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THOMPSON CHILD AND FAMILY FOCUS PURPOSE: Operating assistance | $14,596 |
RESTART WESTERN NORTH CAROLINA INC PURPOSE: Operating assistance | $14,542 |