2024-10-18T12:44:19-05:00 2023-12-31 541498950 RENNER AND COMPANY CPA PC 700 NORTH FAIRFAX STREET SUITE 400 ALEXANDRIA VA 22314 990 2023-01-01 540486410 NORTHERN VIRGINIA ASSOCIATION OF REALTORS NORT 7032073200 8407 PENNELL STREET FAIRFAX VA 22031 RYAN T MCLAUGHLIN CHIEF EXECUTIVE OFFICER 7032073200 2024-10-17 1 1 ADRIEL HENRIQUEZ BAIRES CPA P01203950 7035351200 2024-10-17 2023 2024-10-15 13:58:12Z RYAN T MCLAUGHLIN 8407 PENNELL STREET FAIRFAX VA 22031 9479402 0 X WWW.NVAR.COM X 1930 VA ELEVATING REALTOR SUCCESS BY DELIVERING EXCEPTIONAL VALUE, DRIVING INNOVATION AND IMPACTING THE INDUSTRY. 16 15 48 250 2888 0 92253 79500 5963607 5678651 331676 679433 442202 430738 6829738 6868322 68200 55737 0 0 4036798 4196546 0 0 0 3189417 3550012 7294415 7802295 -464677 -933973 22736096 22029329 4043337 3558609 18692759 18470720 ELEVATING REALTOR SUCCESS BY DELIVERING EXCEPTIONAL VALUE, DRIVING INNOVATION AND IMPACTING THE INDUSTRY. 0 0 THE NORTHERN VIRGINIA ASSOCIATION OF REALTORS (NVAR) EDUCATIONAL PROGRAM SERVICE ACHIEVES THE ASSOCIATION'S PURPOSE OF PROVIDING CURRENT AND PROSPECTIVE REAL ESTATE PROFESSIONALS WITH THE KNOWLEDGE NECESSARY TO CONDUCT REAL ESTATE ACTIVITIES IN NORTHERN VIRGINIA AND, BY OFFERING CONTINUING EDUCATION CLASSES, ASSIST MEMBERS IN MEETING THEIR STATE LICENSING REQUIREMENTS. THE NORTHERN VIRGINIA ASSOCIATION OF REALTORS ACHIEVES THE ASSOCIATION'S GOAL OF DISSEMINATING INFORMATION TO THE MEMBERSHIP AND GENERAL PUBLIC AND ADVOCATING TO PROTECT REAL PROPERTY RIGHTS. THIS INFORMATION ASSISTS IN PROVIDING VITAL INFORMATION REGARDING THE REAL ESTATE MARKET, REGULATORY AND LEGAL ISSUES AFFECTING REAL ESTATE AND THE REAL ESTATE PROFESSION IN NORTHERN VIRGINIA. THE NORTHERN VIRGINIA ASSOCIATION OF REALTORS ACHIEVES THE ASSOCIATION'S GOAL OF PROVIDING MEMBERS THE PRODUCTS AND TOOLS NECESSARY TO CONDUCT REAL ESTATE ACTIVITIES IN NORTHERN VIRGINIA. 0 1 0 1 0 0 0 0 1 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 1 0 0 0 0 0 1 1 1 0 1 19 0 1 48 1 1 1 0 0 0 1 1 0 0 0 X 16 15 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X JAMES H FOSTER CPA CMA CSCA CHIEF FINANCIAL OFFICER 7032073200 8407 PENNELL STREET FAIRFAX VA 22031 HEATHER EMBREY PRESIDENT 10.00 X X 0 0 0 THAI HUNG NGUYEN PRESIDENT-ELECT 2.00 X X 0 0 0 CASEY MENISH SECRETARY/TREASURER 2.00 X X 0 0 0 CHRISTOPHER R COPELAND IMMEDIATE PAST PRESIDENT 2.00 X X 17160 0 0 PETER BIXBY DIRECTOR 1.00 X 0 0 0 MIGUEL CALVO DIRECTOR 1.00 X 0 0 0 ROB CARNEY DIRECTOR 1.00 X 0 0 0 RACHEL CARTER DIRECTOR 1.00 X 0 0 0 JAMIE DESIMONE DIRECTOR 1.00 X 0 0 0 STACY HOLSCHER DIRECTOR 1.00 X 0 0 0 ARSHIA KIA DIRECTOR 1.00 X 0 0 0 MAYRA PINEDA DIRECTOR 1.00 X 0 0 0 SHERRY RAHNAMA DIRECTOR 1.00 X 0 0 0 CASEY SUTHERLAND DIRECTOR 1.00 X 0 0 0 CASSANDRA WELCH DIRECTOR 1.00 X 0 0 0 COLLEEN WRIGHT DIRECTOR 1.00 X 0 0 0 RYAN T MCLAUGHLIN CHIEF EXECUTIVE OFFICER 50.00 X 406976 0 47739 FRANK DOYLE CHIEF OPERATING OFFICER 50.00 X 252111 0 18090 JAMES FOSTER CHIEF FINANCIAL OFFICER 50.00 X 240786 0 17503 ERICK CAMPOS CONTROLLER 50.00 X 149080 0 18629 JOSH VEVERKA SR DIRECTOR OF GOVERNMENT 50.00 X 123214 0 25168 JINA MYERS SR DIR OPS MRKTNG & ENGMNT STRATS 50.00 X 125171 0 13334 PAIGE AUDET DIRECTOR OF MEMBERSHIP 50.00 X 106698 0 38273 LEO MOFUNANYA SR DIRECTOR OF DSO 50.00 X 106097 0 7199 1527293 0 185935 12 0 1 0 CYBERVILLAGE NETWORKERS INC 7773 BLUEBERRY HILL ELLICOTT CITY MD 21043 COMPUTER SERVICES 233169 REMINE INC 344 MAPLE AVE WEST 270 VIENNA VA 22180 TRANSACTION MANAGEMENT SOFTWARE 177252 CLOUD TOPCO DB A RED RIVER MANAGED SERV 21 WATER STREET CLAREMONT NH 03743 COMPUTER SERVICES 143991 WINDOWS CATERING COMPANY 5724 GENERAL WASHINGTON DRIVE ALEXANDRIA VA 22312 EVENT CATERING 121218 FOREWARN LLC 2650 N MILITARY TRAIL SUITE 300 BOCA RATON FL 33431 IDENTITY VERIFICATION APP 116250 7 79500 79500 MEMBERSHIP DUES 900099 3666911 3666911 LOCKBOX SERVICE REVENUE 900099 1156671 1156671 EDUCATION REVENUE 611600 349997 349997 EVENTS & MEETINGS 900099 267483 267483 MEMBERSHIP FEES 900099 192225 192225 45364 45364 5678651 742091 742091 447526 447526 7300 0 7300 7300 7300 2142182 400 2205240 0 -63058 400 -62658 -62658 379852 405840 -25988 -26976 988 ADVERTISING 541800 1900 1900 1900 6868322 5658975 2888 1126959 55737 1000365 2531420 119584 306076 239101 51586 32800 14121 52520 510551 129887 703086 621243 102635 684487 468525 17009 BANK FEES AND CREDIT CA 132088 BUSINESS TAXES 19115 MISCELLANEOUS 9559 BAD DEBT 800 7802295 589476 363413 5590152 5901841 401030 379955 280841 65054 113653 124058 13247158 7268447 6371900 5978711 5925715 6782586 3222343 2356144 240986 77567 22736096 22029329 764875 663969 2868850 2675377 409612 219263 4043337 3558609 X 18692759 18470720 18692759 18470720 22736096 22029329 -933973 711934 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 3666911 20646 -303169 -282523 73338 -355861 0 630762 1489560 74998 2045324 5101802 421821 4892861 630762 4949184 422629 270011 5101802 4724558 339903 115277 4949184 4807857 174527 257826 4724558 1.00000 0 0 1959903 1959903 8099859 4523456 3576403 166791 162609 4182 1445003 1292160 152843 1575602 1290222 285380 5978711 INVESTMENT IN MRIS 162071 C CERTIFICATES OF DEPOSIT 1756067 C INVESTMENT IN REGIONAL LOCKBOX CONS 5800 C INVESTMENT IN NY LIFE 351388 C INVESTMENT 2019 REACH 80818 C 2356144 OPERATING LEASE LIABILITY 45837 POST-RETIREMENT BENEFITS 164603 DEPOSITS 8823 219263 X 7986096 711934 405840 1117774 6868322 0 6868322 8208135 405840 405840 7802295 0 7802295 PART V, LINE 4: THE ASSOCIATION'S BOARD-DESIGNATED FUNDS ARE RESERVED AS PART OF ITS INTERNAL CAPITAL BUDGET RESERVE. PART X, LINE 2: IN ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, ACCOUNTING STANDARDS REQUIRE AN ENTITY TO RECOGNIZE THE FINANCIAL STATEMENT IMPACT OF A TAX POSITION WHEN IT IS MORE-LIKELY-THAN-NOT THAT THE POSITION WILL NOT BE SUSTAINED UPON EXAMINATION. MANAGEMENT EVALUATED THE ASSOCIATION'S TAX POSITIONS AND CONCLUDED NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE WERE TAKEN. PART XI, LINE 2D - OTHER ADJUSTMENTS: COGS 405,840. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS 405,840. 1 4 PART I, LINE 2: DONATIONS ARE GIVEN TO PUBLIC CHARITIES FOR THEIR GENERAL EXPENSES. NO ACCOUNTING IS REQUESTED FOR THE USE OF THE FUNDS. X X 1 1 X X X X X 0 0 0 RYAN T MCLAUGHLIN CHIEF EXECUTIVE OFFICER 376767 0 17100 0 13109 0 16500 0 31239 0 454715 0 0 0 FRANK DOYLE CHIEF OPERATING OFFICER 233323 0 17000 0 1788 0 12716 0 5374 0 270201 0 0 0 JAMES FOSTER CHIEF FINANCIAL OFFICER 221998 0 17000 0 1788 0 12065 0 5438 0 258289 0 0 0 ERICK CAMPOS CONTROLLER 136921 0 12000 0 159 0 7511 0 11118 0 167709 0 0 0 PART I, LINE 1A RYAN T. MCLAUGHLIN-IN 2023, A CAR ALLOWANCE OF $9,000 AND A SPOUSAL TRAVEL ALLOWANCE OF $919 WAS INCLUDED IN HIS WAGES AS TAXABLE COMPENSATION. METROPOLITAN REGIONAL INFORMATION SYSTEMS INVESTORS INC NVAR HAS A MINORITY STOCK OWNERSHIP IN MRIS INVESTORS, INC. 134247 RETURN OF CAPITAL-DISSOLUTION OF BUSINESS 0 BRIGHT MLS BRIGHT MLS IS A SUBSTANTIAL CONTRIBUTOR TO NVAR. 292629 DIVIDEND 0 FORM 990, PART VI, SECTION A, LINE 6 INDIVIDUALS INTERESTED IN BECOMING A MEMBER NEED TO SUBMIT AN APPLICATION TO THE BOARD OF DIRECTORS OF THE ASSOCIATION. PROVISIONAL MEMBERSHIP IS PROVIDED IF; 1) ALL DUES AND APPLICATION FEES HAVE BEEN REMITTED; 2) THE REALTOR MEMBER VERIFIES HE/SHE IS ACTIVELY ENGAGED IN THE REAL ESTATE PROFESSION; 3) THE MEMBER MAINTAINS A CURRENT, VALID REAL ESTATE LICENSE; 4) THERE IS NO RECORD OF RECENT/PENDING BANKRUPTCY (WITHIN THE LAST THREE YEARS); 5) THERE IS NO RECORD OF OFFICIAL SANCTIONS INVOLVING UNPROFESSIONAL CONDUCT; AND 6) THE MEMBER AGREES TO COMPLETE A COURSE OF INSTRUCTION COVERING THE BYLAWS AND RULES OF THE ASSOCIATION AS WELL AS THE STATE AND NATIONAL ASSOCIATIONS. FULL MEMBERSHIP IS NOT GRANTED UNTIL THE APPLICATION IS APPROVED BY THE BOARD OF DIRECTORS AT A SCHEDULED MEETING. RIGHTS OF REALTOR MEMBERS INCLUDE: 1) THE RIGHT TO VOTE AND HOLD ELECTED OFFICE WITHIN THE ASSOCIATION; 2) PAY MEMBER RATES FOR ASSOCIATION SERVICES; 3) SERVE ON COMMITTEES. THE OTHER CLASSES OF MEMBERS ARE: AFFILIATE MEMBERS, INSTITUTE AFFILIATE MEMBERS, PUBLIC SERVICE MEMBERS, HONORARY MEMBERS AND STUDENT MEMBERS. AFFILIATE MEMBERS, INSTITUTE AFFILIATE MEMBERS, PUBLIC SERVICE MEMBERS AND STUDENT MEMBERS HAVE ALL RIGHTS OF REALTOR MEMBERS EXCEPT THE RIGHT TO VOTE AND HOLD ELECTED OFFICE. FORM 990, PART VI, SECTION A, LINE 7A THE NORTHERN VIRGINIA ASSOCIATION OF REALTORS HAS ANNUAL ELECTIONS FOR OPEN POSITIONS ON THE BOARD OF DIRECTORS. ALL REALTOR MEMBERS, INCLUDING HONORARY MEMBERS, ARE ALLOWED TO VOTE. THESE ARE TWO-YEAR BOARD POSITIONS. THE PRESIDENT-ELECT ANNUALLY APPOINTS THREE (3) REALTORS TO SERVE ON THE BOARD FOR A ONE-YEAR TERM. OFFICERS OF THE ASSOCIATION (PRESIDENT, PRESIDENT-ELECT AND SECRETARY/TREASURER) ARE NOMINATED BY MEMBERS OF THE BOARD OF DIRECTORS AND ELECTED BY THE BOARD. AN OFFICER OF THE ASSOCIATION NEEDS TO BE A CURRENT MEMBER OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B AMENDMENTS TO THE BY-LAWS OF THE ASSOCIATION ARE SUBJECT TO APPROVAL BY MEMBERS OF THE ASSOCIATION. ONLY REALTOR MEMBERS IN GOOD STANDING HAVE VOTING RIGHTS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS REVIEWED, PRIOR TO FILING, WITH THE BOARD OF DIRECTORS. THE REVIEW WAS CONDUCTED BY THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER DURING A REGULARLY SCHEDULED BOARD MEETING. IN ADDITION, THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER REVIEWED THE FORM WITH THE OFFICERS OF THE ASSOCIATION (PRESIDENT, PRESIDENT-ELECT, SECRETARY/TREASURER AND IMMEDIATE PAST PRESIDENT) IN A SEPARATE MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS, ANY MEMBER OF A STANDING COMMITTEE, AD HOC COMMITTEE OR TASK FORCE APPOINTED BY THE BOARD OR PRESIDENT HAS TO SIGN A "CONFLICT OF INTEREST" POLICY AT THE BEGINNING OF THE SERVICE YEAR. THE POLICY DEFINES CONFLICTS AND IMPOSES AN ONGOING DUTY TO THESE MEMBERS TO DISCLOSE, AT THE OUTSET OF A DISCUSSION, ANY INTERESTS THEY MAY HAVE. SUCH MEMBERS MAY NOT PARTICIPATE IN THE DISCUSSION RELATING TO THE BUSINESS AND MAY NOT VOTE ON ANY MATTER IN WHICH A MEMBER HAS A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION FOR THE CHIEF EXCEUTIVE OFFICER (CEO) IS ESTABLISHED BY CONTRACT AS APPROVED BY THE BOARD OF DIRECTORS. COMPENSATION FOR THE CEO IS REVIEWED AND APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. KEY EMPLOYEE COMPENSATION IS REVIEWED AND APPROVED ANNUALLY BY THE CEO BASED ON GUIDELINES ESTABLISHED BY THE BOARD OF DIRECTORS DURING THE ANNUAL BUDGET PROCESS. FORM 990, PART VI, SECTION C, LINE 18 THE FORMS ARE AVAILABLE FOR INSPECTION AND COPY IN OUR OFFICE UPON WRITTEN REQUEST CONSISTENT WITH AND TO THE EXTENT PERMITTED UNDER VIRGINIA AND FEDERAL LAW. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE FOR INSPECTION AND COPY IN OUR OFFICE UPON WRITTEN REQUEST CONSISTENT WITH AND TO THE EXTENT PERMITTED UNDER VIRGINIA AND FEDRAL LAW. GOVERNING DOCUMENTS (I.E. BY_LAWS) AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE FOR INSPECTION ON THE ASSOCIATION'S WEBSITE. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. THE BOARD OF DIRECTORS IS RESPONSIBLE FOR THE SELECTION OF THE INDEPENDENT AUDITORS AND OVERSIGHT OF THE INDEPENDENT AUDIT. NORTHERN VIRGINIA ASSOCIATION OF REALTORS PAC 8407 PENNELL STREET FAIRFAX VA 22031 541982495 POLITICAL ACTION COMMITTEE VA 527 N/A NORTHERN VIRGINIA ASSOCIATION OF REALTORS INC 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 NORTHERN VIRGINIA ASSOCIATION OF REALTORS POLITICAL ACTION COMMITTEE B 4000 FMV NORTHERN VIRGINIA ASSOCIATION OF REALTORS POLITICAL ACTION COMMITTEE Q 35480 FMV NORTHERN VIRGINIA ASSOCIATION OF REALTORS POLITICAL ACTION COMMITTEE R 110192 FMV NORTHERN VIRGINIA ASSOCIATION OF REALTORS POLITICAL ACTION COMMITTEE S 162147 FMV