Hampton Roads Realtors Association Inc
- Assets
- $13.5m
- Revenue
- $2.7m
- Investments
- $4.8k
- Employees
- 23
- Location
- Chesapeake, VA
- Founding
- 08/1971
- Data as of
- 12/2021
- EIN
- 54-0722682
Organization Overview
Hampton Roads Realtors Association Inc is located in Chesapeake, VA. The organization was established in 1971. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Hampton Roads Realtors Association Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hampton Roads Realtors Association 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, Hampton Roads Realtors Association Inc generated $2.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $2.6m during the year ending 12/2021. While expenses have increased by 1.3% 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
TO PROMOTE HIGH STANDARDS OF CONDUCT IN THE REAL ESTATE INDUSTRY AND TO PROVIDE EDUCATIONAL AND NETWORKING OPPORTUNITIES TO REALTORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION WORKSHOPS - THE PURPOSE OF THESE EVENTS IS TO RAISE THE LEVEL OF PROFESSIONALISM IN THE INDUSTRY, INCREASE KNOWLEDGE AND SKILLS AND BETTER SERVE THE PUBLIC.
AWARDS AND ACHIEVEMENTS BANQUETS - THE PURPOSE OF THESE EVENTS IS TO RECOGNIZE THE INDUSTRY'S TOP REGIONAL PRODUCERS.
VARIOUS ACTIVITIES TO PROMOTE THE REAL ESTATE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dawn Kennedy CEO | Officer | 1 | $180,416 |
Tanya Monroe Board Chairm | Trustee | 1 | $0 |
Ken Boyer At Large Dir | Trustee | 1 | $0 |
Nelene Gibbs At Large Dir | Trustee | 1 | $0 |
Barbara Sgueglia Chair Elect | Trustee | 1 | $0 |
Lee Halyard At Large Dir | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,809,179 |
| Fundraising events | $0 |
| Related organizations | $8,000 |
| 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 | $1,817,179 |
| Total Program Service Revenue | $649,850 |
| Investment income | $3,395 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $97,875 |
| Net Gain/Loss on Asset Sales | -$3,077 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$10,966 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,693,290 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $940,451 |
| Pension plan accruals and contributions | $13,176 |
| Other employee benefits | $57,217 |
| Payroll taxes | $73,518 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $129,253 |
| Fees for services: Accounting | $214,455 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,695 |
| Office expenses | $26,783 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $92,452 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $101,901 |
| Insurance | $0 |
| All other expenses | $515,542 |
| Total functional expenses | $2,611,912 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,910,301 |
| Savings and temporary cash investments | $4,098,864 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $175,053 |
| 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 | $66,092 |
| Net Land, buildings, and equipment | $5,849,737 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,755 |
| Investments—program-related | $0 |
| Intangible assets | $97,102 |
| Other assets | $1,270,617 |
| Total assets | $13,472,521 |
| Accounts payable and accrued expenses | $104,830 |
| Grants payable | $0 |
| Deferred revenue | $580,333 |
| 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 | $5,830,851 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,283,771 |
| Total liabilities | $8,799,785 |
| Net assets without donor restrictions | $4,672,736 |
| 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 | $13,472,521 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hampton Roads Realtors Association Inc has recieved totaling $26,834.
| Awarding Organization | Amount |
|---|---|
National Association Of Realtors Chicago, IL PURPOSE: GENERAL SUPPORT | $26,834 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Williamsburg Area Chamber Of Commerce Williamsburg, VA | $14,757,466 | $13,076,106 |
House Majority Forward Washington, DC | $4,051,593 | $12,002,258 |
Naiop Inc Herndon, VA | $24,051,800 | $11,820,157 |
Association Of Small Business Development Centers Burke, VA | $3,386,085 | $9,990,521 |
Charlotte Regional Realtor Association Inc Charlotte, NC | $53,438,404 | $12,494,849 |
Real Estate Roundtable Inc Washington, DC | $4,544,529 | $7,445,927 |
North Carolina Association Of Realtors Inc Greensboro, NC | $31,160,587 | $11,391,480 |
The North Carolina Community Action Association Raleigh, NC | $4,811,006 | $8,169,285 |
American Seed Trade Association Alexandria, VA | $7,353,007 | $6,785,185 |
Virginia Association Of Realtors Richmond, VA | $25,601,642 | $9,283,805 |
Raleigh Regional Association Of Realtors Inc Cary, NC | $11,211,879 | $6,674,452 |
Professional Services Council Inc Arlington, VA | $6,239,213 | $6,315,119 |