Apartment & Office Bldg Assn
- Assets
- $2.7m
- Revenue
- $4.6m
- Investments
- $1.2m
- Employees
- 18
- Location
- Washington, DC
- Founding
- 11/1944
- Data as of
- 12/2023
- EIN
- 53-0184431
Organization Overview
Apartment & Office Bldg Assn is located in Washington, DC. The organization was established in 1944. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Apartment & Office Bldg Assn employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Apartment & Office Bldg Assn 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 12/2023, Apartment & Office Bldg Assn generated $4.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $5.7m during the year ending 12/2023. While expenses have increased by 1.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO KEEP THE OWNERS & MANAGERS OF APARTMENTS & OFFICE BUILDINGS INFORMED OF RECENT & PENDING LEGISLATION AND PROVIDE LEGISLATIVE REPRESENTATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPECIAL EDUCATION - SEMINARS, GENERAL MEMBERSHIP MEETING, REAL PROPERTY ADMINISTRATOR PROGRAM, CERTIFIED APARTMENT MANAGER PROGRAM, NATIONAL LEASING PROFESSIONAL PROGRAM AND FOUNDATIONS OF REAL ESTATE MANAGEMENT.
SPECIAL ACTIVITIES - TO PROMOTE THE BENEFITS OF BELONGING TO THE ASSOCIATION AND TO ATTRACT NEW MEMBERS.
LEGAL DEFENSE FUND IS DESIGNED TO FINANCE LEGAL ACTION FOR THE GENERAL BENEFIT OF THE MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Alford Prof. Develo | Trustee | 2 | $0 |
Demitra Alvarado Emerging Lea | Trustee | 2 | $0 |
Mark Benedetti Pres. Elect/ | OfficerTrustee | 2 | $0 |
Antoinette Beverly At Large | Trustee | 2 | $0 |
Peter Bonnell President | Trustee | 2 | $0 |
Kathryn Clement At Large | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Revillo Hill Associates Economists | 12/30/23 | $398,612 |
Keith Townsend Legal Consult | 12/30/23 | $186,435 |
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 | $3,730,219 |
| Investment income | $46,699 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $45,892 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,641,338 |
| 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. | $2,123,854 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $905,039 |
| Pension plan accruals and contributions | $139,696 |
| Other employee benefits | $191,980 |
| Payroll taxes | $183,706 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $468,129 |
| Fees for services: Accounting | $66,011 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,587 |
| Fees for services: Other | $198,200 |
| Advertising and promotion | $66,287 |
| Office expenses | $149,829 |
| Information technology | $126,017 |
| Royalties | $0 |
| Occupancy | $261,795 |
| Travel | $33,226 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,656 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $66,334 |
| Insurance | $112,430 |
| All other expenses | $0 |
| Total functional expenses | $5,667,184 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $565,284 |
| Savings and temporary cash investments | $208,536 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $351,353 |
| 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 | $115,977 |
| Net Land, buildings, and equipment | $229,227 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,230,668 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,701,045 |
| Accounts payable and accrued expenses | $1,107,859 |
| Grants payable | $0 |
| Deferred revenue | $80,743 |
| 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 | $1,188,602 |
| Net assets without donor restrictions | $1,506,116 |
| Net assets with donor restrictions | $6,327 |
| 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 | $2,701,045 |