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        <TitleTxt>PRESIDENT</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>ALISON SINK</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CALLIE STONE</PersonNm>
        <TitleTxt>WILKES CHAPT</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JERRELL SUDDRETH</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CASSIE TAYLOR</PersonNm>
        <TitleTxt>PMD PRESIDEN</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <TotalReportableCompFromOrgAmt>221924</TotalReportableCompFromOrgAmt>
      <TotalOtherCompensationAmt>21172</TotalOtherCompensationAmt>
      <IndivRcvdGreaterThan100KCnt>1</IndivRcvdGreaterThan100KCnt>
      <FormerOfcrEmployeesListedInd>false</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>true</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>false</CompensationFromOtherSrcsInd>
      <AllOtherContributionsAmt>23202</AllOtherContributionsAmt>
      <TotalContributionsAmt>23202</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>MEMBERSHIP DUES</Desc>
        <BusinessCd>531390</BusinessCd>
        <TotalRevenueColumnAmt>665791</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>665791</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>665791</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>29670</TotalRevenueColumnAmt>
        <ExclusionAmt>29670</ExclusionAmt>
      </InvestmentIncomeGrp>
      <GrossAmountSalesAssetsGrp>
        <SecuritiesAmt>483436</SecuritiesAmt>
      </GrossAmountSalesAssetsGrp>
      <LessCostOthBasisSalesExpnssGrp>
        <SecuritiesAmt>431818</SecuritiesAmt>
      </LessCostOthBasisSalesExpnssGrp>
      <GainOrLossGrp>
        <SecuritiesAmt>51618</SecuritiesAmt>
      </GainOrLossGrp>
      <NetGainOrLossInvestmentsGrp>
        <TotalRevenueColumnAmt>51618</TotalRevenueColumnAmt>
        <ExclusionAmt>51618</ExclusionAmt>
      </NetGainOrLossInvestmentsGrp>
      <GrossSalesOfInventoryAmt>2853504</GrossSalesOfInventoryAmt>
      <CostOfGoodsSoldAmt>1736516</CostOfGoodsSoldAmt>
      <NetIncomeOrLossGrp>
        <TotalRevenueColumnAmt>1116988</TotalRevenueColumnAmt>
        <UnrelatedBusinessRevenueAmt>1116988</UnrelatedBusinessRevenueAmt>
      </NetIncomeOrLossGrp>
      <OtherRevenueMiscGrp>
        <Desc>CONTINUING EDUCATION</Desc>
        <BusinessCd>531390</BusinessCd>
        <TotalRevenueColumnAmt>49062</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>49062</RelatedOrExemptFuncIncomeAmt>
      </OtherRevenueMiscGrp>
      <OtherRevenueMiscGrp>
        <Desc>MISCELLANEOUS REVENUE</Desc>
        <BusinessCd>531390</BusinessCd>
        <TotalRevenueColumnAmt>33631</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>33631</RelatedOrExemptFuncIncomeAmt>
      </OtherRevenueMiscGrp>
      <OtherRevenueMiscGrp>
        <Desc>OTHER USERS INCOME</Desc>
        <BusinessCd>531390</BusinessCd>
        <TotalRevenueColumnAmt>32281</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>32281</RelatedOrExemptFuncIncomeAmt>
      </OtherRevenueMiscGrp>
      <MiscellaneousRevenueGrp>
        <TotalRevenueColumnAmt>13180</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>13180</RelatedOrExemptFuncIncomeAmt>
      </MiscellaneousRevenueGrp>
      <OtherRevenueTotalAmt>128154</OtherRevenueTotalAmt>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>2015423</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>793945</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>1116988</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>81288</ExclusionAmt>
      </TotalRevenueGrp>
      <CompCurrentOfcrDirectorsGrp>
        <TotalAmt>228096</TotalAmt>
        <ProgramServicesAmt>166195</ProgramServicesAmt>
        <ManagementAndGeneralAmt>61901</ManagementAndGeneralAmt>
      </CompCurrentOfcrDirectorsGrp>
      <OtherSalariesAndWagesGrp>
        <TotalAmt>331451</TotalAmt>
        <ProgramServicesAmt>138921</ProgramServicesAmt>
        <ManagementAndGeneralAmt>192530</ManagementAndGeneralAmt>
      </OtherSalariesAndWagesGrp>
      <PensionPlanContributionsGrp>
        <TotalAmt>9891</TotalAmt>
        <ProgramServicesAmt>3184</ProgramServicesAmt>
        <ManagementAndGeneralAmt>6707</ManagementAndGeneralAmt>
      </PensionPlanContributionsGrp>
      <OtherEmployeeBenefitsGrp>
        <TotalAmt>44894</TotalAmt>
        <ProgramServicesAmt>18953</ProgramServicesAmt>
        <ManagementAndGeneralAmt>25941</ManagementAndGeneralAmt>
      </OtherEmployeeBenefitsGrp>
      <PayrollTaxesGrp>
        <TotalAmt>40424</TotalAmt>
        <ProgramServicesAmt>21536</ProgramServicesAmt>
        <ManagementAndGeneralAmt>18888</ManagementAndGeneralAmt>
      </PayrollTaxesGrp>
      <FeesForServicesLegalGrp>
        <TotalAmt>32950</TotalAmt>
        <ProgramServicesAmt>17553</ProgramServicesAmt>
        <ManagementAndGeneralAmt>15397</ManagementAndGeneralAmt>
      </FeesForServicesLegalGrp>
      <FeesForSrvcInvstMgmntFeesGrp>
        <TotalAmt>5608</TotalAmt>
        <ManagementAndGeneralAmt>5608</ManagementAndGeneralAmt>
      </FeesForSrvcInvstMgmntFeesGrp>
      <OfficeExpensesGrp>
        <TotalAmt>36566</TotalAmt>
        <ProgramServicesAmt>19479</ProgramServicesAmt>
        <ManagementAndGeneralAmt>17087</ManagementAndGeneralAmt>
      </OfficeExpensesGrp>
      <OccupancyGrp>
        <TotalAmt>82354</TotalAmt>
        <ProgramServicesAmt>37798</ProgramServicesAmt>
        <ManagementAndGeneralAmt>44556</ManagementAndGeneralAmt>
      </OccupancyGrp>
      <TravelGrp>
        <TotalAmt>80132</TotalAmt>
        <ProgramServicesAmt>42687</ProgramServicesAmt>
        <ManagementAndGeneralAmt>37445</ManagementAndGeneralAmt>
      </TravelGrp>
      <ConferencesMeetingsGrp>
        <TotalAmt>78196</TotalAmt>
        <ProgramServicesAmt>78196</ProgramServicesAmt>
      </ConferencesMeetingsGrp>
      <DepreciationDepletionGrp>
        <TotalAmt>130662</TotalAmt>
        <ProgramServicesAmt>69604</ProgramServicesAmt>
        <ManagementAndGeneralAmt>61058</ManagementAndGeneralAmt>
      </DepreciationDepletionGrp>
      <InsuranceGrp>
        <TotalAmt>6745</TotalAmt>
        <ManagementAndGeneralAmt>6745</ManagementAndGeneralAmt>
      </InsuranceGrp>
      <OtherExpensesGrp>
        <Desc>UBIT TAXES - FED</Desc>
        <TotalAmt>121093</TotalAmt>
        <ManagementAndGeneralAmt>121093</ManagementAndGeneralAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>CREDIT CARD CHARGES</Desc>
        <TotalAmt>59943</TotalAmt>
        <ProgramServicesAmt>59943</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>CONTINUING EDUCATION</Desc>
        <TotalAmt>41420</TotalAmt>
        <ProgramServicesAmt>41420</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>TAXES</Desc>
        <TotalAmt>25505</TotalAmt>
        <ManagementAndGeneralAmt>25505</ManagementAndGeneralAmt>
      </OtherExpensesGrp>
      <AllOtherExpensesGrp>
        <TotalAmt>106891</TotalAmt>
        <ProgramServicesAmt>66126</ProgramServicesAmt>
        <ManagementAndGeneralAmt>40765</ManagementAndGeneralAmt>
      </AllOtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>1462821</TotalAmt>
        <ProgramServicesAmt>781595</ProgramServicesAmt>
        <ManagementAndGeneralAmt>681226</ManagementAndGeneralAmt>
        <FundraisingAmt>0</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <CashNonInterestBearingGrp>
        <BOYAmt>29</BOYAmt>
        <EOYAmt>29</EOYAmt>
      </CashNonInterestBearingGrp>
      <SavingsAndTempCashInvstGrp>
        <BOYAmt>1840581</BOYAmt>
        <EOYAmt>1885178</EOYAmt>
      </SavingsAndTempCashInvstGrp>
      <AccountsReceivableGrp>
        <BOYAmt>311245</BOYAmt>
        <EOYAmt>372630</EOYAmt>
      </AccountsReceivableGrp>
      <InventoriesForSaleOrUseGrp>
        <BOYAmt>9091</BOYAmt>
        <EOYAmt>7923</EOYAmt>
      </InventoriesForSaleOrUseGrp>
      <PrepaidExpensesDefrdChargesGrp>
        <BOYAmt>12294</BOYAmt>
        <EOYAmt>5091</EOYAmt>
      </PrepaidExpensesDefrdChargesGrp>
      <LandBldgEquipCostOrOtherBssAmt>3724843</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>872358</LandBldgEquipAccumDeprecAmt>
      <LandBldgEquipBasisNetGrp>
        <BOYAmt>2680622</BOYAmt>
        <EOYAmt>2852485</EOYAmt>
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      <InvestmentsOtherSecuritiesGrp>
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      </InvestmentsOtherSecuritiesGrp>
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        <BOYAmt>5720635</BOYAmt>
        <EOYAmt>5582882</EOYAmt>
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      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>1329617</BOYAmt>
        <EOYAmt>531497</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <DeferredRevenueGrp>
        <BOYAmt>127453</BOYAmt>
        <EOYAmt>147829</EOYAmt>
      </DeferredRevenueGrp>
      <OtherLiabilitiesGrp>
        <EOYAmt>83309</EOYAmt>
      </OtherLiabilitiesGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>1457070</BOYAmt>
        <EOYAmt>762635</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>4240073</BOYAmt>
        <EOYAmt>4799038</EOYAmt>
      </NoDonorRestrictionNetAssetsGrp>
      <DonorRestrictionNetAssetsGrp>
        <BOYAmt>23492</BOYAmt>
        <EOYAmt>21209</EOYAmt>
      </DonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>4263565</BOYAmt>
        <EOYAmt>4820247</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>5720635</BOYAmt>
        <EOYAmt>5582882</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>552602</ReconcilationRevenueExpnssAmt>
      <NetUnrlzdGainsLossesInvstAmt>4080</NetUnrlzdGainsLossesInvstAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>true</AccountantCompileOrReviewInd>
      <AcctCompileOrReviewBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </AcctCompileOrReviewBasisGrp>
      <FSAuditedInd>false</FSAuditedInd>
      <FederalGrantAuditRequiredInd>false</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleC documentId="RetDoc4">
      <SubstantiallyAllDuesNondedInd>false</SubstantiallyAllDuesNondedInd>
      <OnlyInHouseLobbyingInd>false</OnlyInHouseLobbyingInd>
      <AgreeCarryoverPriorYearInd>false</AgreeCarryoverPriorYearInd>
    </IRS990ScheduleC>
    <IRS990ScheduleD documentId="RetDoc5">
      <LandGrp>
        <OtherCostOrOtherBasisAmt>20000</OtherCostOrOtherBasisAmt>
        <BookValueAmt>20000</BookValueAmt>
      </LandGrp>
      <BuildingsGrp>
        <OtherCostOrOtherBasisAmt>3423525</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>615647</DepreciationAmt>
        <BookValueAmt>2807878</BookValueAmt>
      </BuildingsGrp>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>281318</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>256711</DepreciationAmt>
        <BookValueAmt>24607</BookValueAmt>
      </EquipmentGrp>
      <TotalBookValueLandBuildingsAmt>2852485</TotalBookValueLandBuildingsAmt>
      <CloselyHeldEquityInterestsGrp>
        <BookValueAmt>459546</BookValueAmt>
        <MethodValuationCd>F</MethodValuationCd>
      </CloselyHeldEquityInterestsGrp>
      <TotalBookValueSecuritiesAmt>459546</TotalBookValueSecuritiesAmt>
      <FederalIncomeTaxLiabilityAmt>74263</FederalIncomeTaxLiabilityAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>NC INCOME TAX</Desc>
        <Amt>9046</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>83309</TotalLiabilityAmt>
    </IRS990ScheduleD>
    <IRS990ScheduleJ documentId="RetDoc6">
      <SeverancePaymentInd>false</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>false</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>false</EquityBasedCompArrngmInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>SAMUEL AUBREY</PersonNm>
        <TitleTxt>EXE DIRECT TO 11/24</TitleTxt>
        <BaseCompensationFilingOrgAmt>148788</BaseCompensationFilingOrgAmt>
        <BonusFilingOrganizationAmount>10000</BonusFilingOrganizationAmount>
        <DeferredCompensationFlngOrgAmt>21172</DeferredCompensationFlngOrgAmt>
        <TotalCompensationFilingOrgAmt>179960</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="RetDoc7">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 2, PART III, LINE 4D</FormAndLineReferenceDesc>
        <ExplanationTxt>WINSTON-SALEM PROPERTY MANAGEMENT ASSOCIATION SERVES TO PROMULGATE AND PROMOTE PROFESSIONAL STANDARDS AND COOPERATION BETWEEN PROFESSIONAL PROPERTY MANAGERS AND OWNERS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION IS A MEMBERSHIP ORGANIZATION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 7A</FormAndLineReferenceDesc>
        <ExplanationTxt>MEMBERS ELECT THE BOARD OF DIRECTORS</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 7B</FormAndLineReferenceDesc>
        <ExplanationTxt>MEMBERS APPROVE THE DUES FOR DESIGNATED REALTOR MEMBERS AND ANY AMENDMENTS TO THE BYLAWS</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>REVIEWED BY CFO AND FINANCE DIRECTOR</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD SIGNS A CONFLICT OF INTEREST POLICY AT THE BEGINNING OF EACH YEAR.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ADMINISTRATIVE COMMITTEE HAS ACCESS TO SURVEYS CONDUCTED BY NAR AND ASAE AND DETERMINES COMPENSATION FOR THE CHIEF STAFF EXECUTIVE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15B</FormAndLineReferenceDesc>
        <ExplanationTxt>CHIEF STAFF EXECUTIVE MAKES RECOMMENDATIONS TO THE ADMINISTRATIVE COMMITTEE</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION MAKES ALL ITS DOCUMENTS AVAILABLE UPON SPECIFIC REQUEST</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>