Kentucky Association Of Realtors
- Assets
- $6.0m
- Revenue
- $2.3m
- Investments
- $2.6m
- Employees
- 10
- Location
- Lexington, KY
- Founding
- 08/1945
- Data as of
- 12/2021
- EIN
- 61-0466845
Organization Overview
Kentucky Association Of Realtors is located in Lexington, KY. The organization was established in 1945. 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, Kentucky Association Of Realtors employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky Association Of Realtors 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, Kentucky Association Of Realtors generated $2.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $2.0m during the year ending 12/2021. While expenses have increased by 7.2% 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 UNITY AMONG REALTORS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL CONVENTION - THE ASSOCIATION IS THE STATEWIDE ORGANIZATION FOR REALTORS AND HAS ABOUT 12,913 MEMBERS. OFFICERS AND DIRECTORS ARE SELECTED BY MEMBERS AT THE ANNUAL CONVENTION.
DIRECTORS AND COMMITTEE MEETINGS - DIRECTORS ESTABLISH ASSOCIATION POLICIES AND REVIEW FINANCIAL REPORTS AT QUARTERLY MEETINGS. THE ASSOCIATION IS ALSO REPRESENTED ON THE NATIONAL LEVEL AT THE NATIONAL CONVENTION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Louis E Stevens III Chief Executive Officer | Officer | 39 | $191,828 |
Mike Inman President - Elect | Trustee | 1 | $0 |
Charles Hinckley President | Trustee | 1 | $0 |
Elizabeth Monarch Treasurer | Trustee | 1 | $0 |
Cindy Payne Region 2 Director | Trustee | 1 | $0 |
Earlene W Woods Region 1 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 | $1,990,606 |
| Investment income | $31,965 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $44,460 |
| Net Gain/Loss on Asset Sales | $181,629 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,297,332 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50,000 |
| 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. | $221,524 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $580,553 |
| Pension plan accruals and contributions | $21,768 |
| Other employee benefits | $72,501 |
| Payroll taxes | $58,458 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $42,555 |
| Fees for services: Accounting | $19,733 |
| Fees for services: Lobbying | $66,841 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,334 |
| Fees for services: Other | $3,027 |
| Advertising and promotion | $0 |
| Office expenses | $36,560 |
| Information technology | $51,534 |
| Royalties | $0 |
| Occupancy | $32,324 |
| Travel | $83,007 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $199,009 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $49,290 |
| Insurance | $4,794 |
| All other expenses | $135,690 |
| Total functional expenses | $2,033,593 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,717,147 |
| Savings and temporary cash investments | $285,567 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,133 |
| 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 | $22,437 |
| Net Land, buildings, and equipment | $1,353,500 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,566,329 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,963,113 |
| Accounts payable and accrued expenses | $127,738 |
| Grants payable | $0 |
| Deferred revenue | $1,218,720 |
| 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 | $1,346,458 |
| Net assets without donor restrictions | $4,616,655 |
| 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 | $5,963,113 |
Endowment Analysis
| Beg. Balance | $2,385,524 |
| Net Contributions | $672,440 |
| Ending Balance | $3,057,964 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cincinnati Usa Regional Chamber Cincinnati, OH | $21,203,474 | $18,734,397 |
Greater Columbus Convention & Visitors Bureau Columbus, OH | $8,565,444 | $15,584,006 |
Williamsburg Area Chamber Of Commerce Williamsburg, VA | $14,757,466 | $13,076,106 |
Naiop Inc Herndon, VA | $24,051,800 | $11,820,157 |
Association Of Small Business Development Centers Burke, VA | $3,386,085 | $9,990,521 |
Indiana Chamber Of Commerce Inc Indianapolis, IN | $7,894,910 | $10,261,881 |
Greater Indianapolis Chamber Of Commerce Inc Indianapolis, IN | $15,080,070 | $11,498,115 |
German-American Chamber Of Commerce Of The Midwest Chicago, IL | $9,537,423 | $9,672,106 |
The Chicago Association Of Realtors Inc Chicago, IL | $11,107,922 | $7,821,690 |
Illinois Small Business Growth Corporation Springfield, IL | $2,478,514 | $7,890,542 |
Mainstreet Organization Of Realtors Downers Grove, IL | $23,598,352 | $9,176,226 |
American Seed Trade Association Alexandria, VA | $7,353,007 | $6,785,185 |