2023-10-23T13:26:16-05:00 2022-12-31 541498950 RENNER AND COMPANY CPA PC 700 NORTH FAIRFAX STREET SUITE 400 ALEXANDRIA VA 22314 990 2022-01-01 540486410 NORTHERN VIRGINIA ASSOCIATION OF REALTORS NORT 7032073200 8407 PENNELL STREET FAIRFAX VA 22031 RYAN T MCLAUGHLIN CHIEF EXECUTIVE OFFICER 7032073200 2023-10-17 1 RYAN MCLAUGHLIN XXX-XX-XXXX 0 ANDREW E YOUNG CPA P01203950 7035351200 2023-10-17 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z RYAN T MCLAUGHLIN 8407 PENNELL STREET FAIRFAX VA 22031 9633747 0 X WWW.NVAR.COM X 1930 VA ELEVATING REALTOR SUCCESS BY DELIVERING EXCEPTIONAL VALUE, DRIVING INNOVATION AND IMPACTING THE INDUSTRY. 16 15 44 250 1468 0 78100 92253 6476072 5963607 652868 331676 444315 442202 7651355 6829738 96650 68200 0 0 3959416 4036798 0 0 0 2777293 3189417 6833359 7294415 817996 -464677 24558097 22736096 3948200 4043337 20609897 18692759 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 0 0 1 0 0 0 0 0 1 1 1 0 1 15 0 44 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 CHIEF FINANCIAL OFFICER 7032073200 8407 PENNELL STREET FAIRFAX VA 22031 CHRISTOPHER R COPELAND PRESIDENT 10.00 X X 12610 0 0 HEATHER EMBREY PRESIDENT-ELECT 2.00 X X 0 0 0 THAI HUNG NGUYEN SECRETARY/TREASURER 2.00 X X 0 0 0 DERRICK SWAAK IMMEDIATE PAST PRESIDENT 2.00 X X 0 0 0 TIFFANY AQUINO DIRECTOR 1.00 X 0 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 SHEILA JACKSON DIRECTOR 1.00 X 0 0 0 SHIRLEY JOHNSON-BOYD DIRECTOR 1.00 X 0 0 0 CASEY MENISH 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 COLLEEN WRIGHT DIRECTOR 1.00 X 0 0 0 JEFF WU DIRECTOR 1.00 X 0 0 0 RYAN T MCLAUGHLIN CHIEF EXECUTIVE OFFICER 50.00 X 376311 0 42083 ELIZABETH COYA SR VICE PRESIDENT OF GOVERNMENT (RESIGNED 9/22) 50.00 X 216056 0 22551 FRANK DOYLE CHIEF OPERATING OFFICER 50.00 X 241120 0 17331 JAMES FOSTER CHIEF FINANCIAL OFFICER 50.00 X 227796 0 16874 MATT TROIANI VICE PRESIDENT OF PROFESSIONAL (RESIGNED 9/22) 50.00 X 134827 0 6643 ERICK CAMPOS CONTROLLER 50.00 X 131333 0 18088 JOSH VEVERKA SR DIRECTOR OF GOVERNMENT AFFAIRS 50.00 X 106189 0 22945 JINA MYERS MARKETING & PROMOTION DIRECTOR 50.00 X 109746 0 11904 PAIGE AUDET MEMBERSHIP DIRECTOR 50.00 X 101950 0 33925 1657938 0 192344 10 0 1 0 CYBERVILLAGE NETWORKERS INC 7773 BLUEBERRY HILL ELLICOTT CITY MD 21043 COMPUTER SERVICES 235618 RED RIVER MANAGED SERVICES 21 WATER STREET CLAREMONT NH 03743 COMPUTER SERVICES 192484 REMINE INC 344 MAPLE AVE WEST 270 VIENNA VA 22180 TRANSACTION MANAGEMENT SOFTWARE 182094 CLEAN OFFICE INC 610 HERNDON PARKWAY SUITE 500 HERNDON VA 20170 JANITORIAL SERVICES 102254 4 92253 92253 MEMBERSHIP DUES 900099 3938880 3938880 LOCKBOX SERVICE REVENUE 900099 1237828 1237828 EVENTS & MEETINGS 900099 289316 289316 EDUCATION REVENUE 611600 223815 223815 MEMBERSHIP FEES 900099 214700 214700 59068 59068 5963607 540548 540548 423116 423116 2300 0 2300 2300 2300 2219456 13835 2429348 12815 -209892 1020 -208872 -208872 378332 361846 16486 15318 1168 ADVERTISING 541800 300 300 300 6829738 5978925 1468 757092 68200 1172732 2252713 108669 271944 230740 31800 22334 46960 337590 114453 614231 652882 81646 571830 503096 18311 BANK FEES AND CREDIT CA 144623 MISCELLANEOUS 31856 BUSINESS TAXES 17805 7294415 721686 589476 4704685 5590152 408789 401030 57288 280841 134294 113653 13200811 6828911 6643689 6371900 5617134 5925715 6253243 3222343 17289 240986 24558097 22736096 825769 764875 2942102 2868850 180329 409612 3948200 4043337 X 20609897 18692759 20609897 18692759 24558097 22736096 X -464677 -847464 -604997 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 3938880 30749 -255140 -224391 78778 -303169 0 5101802 421821 4892861 630762 4949184 422629 270011 5101802 4724558 339903 115277 4949184 4807857 174527 257826 4724558 4554113 882629 628885 4807857 1.00000 0 0 1959903 1959903 8099859 4256465 3843394 166791 158719 8072 1439314 1176533 262781 1534944 1237194 297750 6371900 INVESTMENT IN MRIS 162071 C CERTIFICATES OF DEPOSIT 2499143 C INVESTMENT IN REGIONAL LOCKBOX CONS 5800 C INVESTMENT IN NY LIFE 336623 C INVESTMENT IN MRIS INVESTORS 134247 C INVESTMENT 2019 REACH 84459 C 3222343 OPERATING LEASE LIABILITY 225553 POST-RETIREMENT BENEFITS 173256 DEPOSITS 10803 409612 X 6344120 -847464 361846 -485618 6829738 0 6829738 8261258 604997 361846 966843 7294415 0 7294415 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 361,846. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS 361,846. 1 NATIONAL ASSOCIATION OF REALTORS 430 N MICHIGAN AVE CHICAGO IL 60611 361520690 501(C)(6) 10000 0 FMV N/A UKRAINIAN RELIEF 0 1 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 338985 0 23356 0 13970 0 15250 0 26833 0 418394 0 0 0 ELIZABETH COYA SR VICE PRESIDENT OF GOVERNMENT (RES 181483 0 0 0 34573 0 9129 0 13422 0 238607 0 0 0 FRANK DOYLE CHIEF OPERATING OFFICER 222332 0 17000 0 1788 0 12156 0 5175 0 258451 0 0 0 JAMES FOSTER CHIEF FINANCIAL OFFICER 211422 0 15000 0 1374 0 11436 0 5438 0 244670 0 0 0 PART I, LINE 1A RYAN T. MCLAUGHLIN-IN 2022, A CAR ALLOWANCE OF $9,000 AND A SPOUSAL TRAVEL ALLOWANCE OF $1,718 WAS INCLUDED IN HIS WAGES AS TAXABLE COMPENSATION. ELIZABETH COYA-IN 2022, A CAR ALLOWANCE OF $11,739 WAS INCLUDED IN HER WAGES AS TAXABLE COMPENSATION. METROPOLITAN REGIONAL INFORMATION SYSTEMS INVESTORS INC NVAR HAS A MINORITY STOCK OWNERSHIP IN MRIS INVESTORS, INC. 2790560 RETURN OF CAPITAL-DISSOLUTION OF BUSINESS 0 BRIGHT MLS NVAR HAS A MINORITY STOCK OWNERSHIP IN BRIGHT MLS 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 (LOCKBOX SERVICE, REALTOR STORE AND EDUCATIONAL OFFERING AND EVENTS; 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 XI, LINE 9: LOSS ON IMPAIRMENT -604,997. FORM 990, PART XIII, 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 36507 FMV NORTHERN VIRGINIA ASSOCIATION OF REALTORS POLITICAL ACTION COMMITTEE R 115712 FMV NORTHERN VIRGINIA ASSOCIATION OF REALTORS POLITICAL ACTION COMMITTEE S 170279 FMV