Durham Association Of Realtors Inc
- Assets
- $2.4m
- Revenue
- $654.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Durham, NC
- Founding
- 08/1978
- Data as of
- 12/2022
- EIN
- 56-6063634
Organization Overview
Durham Association Of Realtors Inc is located in Durham, NC. The organization was established in 1978. 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 12/2022, Durham Association Of Realtors Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Durham Association 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 12/2022, Durham Association Of Realtors Inc generated $654.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $609.4k during the year ending 12/2022. While expenses have increased by 2.4% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE REAL ESTATE BY PROVIDING ETHICAL, PROFESSIONAL SERVICES TO ITS MEMBERS AND CONSUMERS SEEKING REAL ESTATE INFORMATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION IS A VOLUNTARY TRADE ORGANIZATION BRINGING TOGETHER PEOPLE INVOLVED IN SELLING, LEASING & APPRAISING REAL PROPERTY. IT PROMOTES PROFESSIONALISM & HIGH ETHICAL STANDARDS AMONG MEMBERS THROUGH SEMINARS, MEETINGS AND SOCIAL EVENTS. THE ORGANIZATION HAS OVER 1,700 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shawn Hays President | OfficerTrustee | 5 | $0 |
Cindie Burns President-Elect | OfficerTrustee | 5 | $0 |
Grace Jones Vice President | OfficerTrustee | 4 | $0 |
Bert Woodall Secretary/treasurer | OfficerTrustee | 3 | $0 |
Karen Roberts Past President | OfficerTrustee | 3 | $0 |
Emilie Barker Director | Trustee | 1 | $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 | $648,870 |
| Investment income | $578 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$1,362 |
| 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 | $6,566 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $654,652 |
| 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. | $155,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $88,316 |
| Pension plan accruals and contributions | $10,480 |
| Other employee benefits | $25,660 |
| Payroll taxes | $18,881 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,682 |
| Fees for services: Accounting | $5,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,745 |
| Advertising and promotion | $0 |
| Office expenses | $18,222 |
| Information technology | $18,954 |
| Royalties | $0 |
| Occupancy | $47,757 |
| Travel | $20,999 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $40,308 |
| Interest | $23,843 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,609 |
| Insurance | $4,371 |
| All other expenses | $1,375 |
| Total functional expenses | $609,350 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,193 |
| Savings and temporary cash investments | $758,276 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $606,310 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $16,259 |
| Prepaid expenses and deferred charges | $1,095 |
| Net Land, buildings, and equipment | $1,009,591 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,435,724 |
| Accounts payable and accrued expenses | $2,273 |
| Grants payable | $0 |
| Deferred revenue | $421,375 |
| 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 | $606,624 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $366,608 |
| Total liabilities | $1,396,880 |
| Net assets without donor restrictions | $1,038,844 |
| 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 | $2,435,724 |