2023-08-23T15:45:08-05:00 2022-12-31 263753134 CBIZ MHM LLC ONE CITIZENS PLAZA 9TH FLOOR PROVIDENCE RI 02903 990 2022-01-01 050316314 RHODE ISLAND ASSOCIATION OF REALTORS INC RHOD 4017853650 100 BIGNALL STREET WARWICK RI 02888 PHILIP B TEDESCO CEO 4017853650 2023-08-22 1 PHILIP TEDESCO 999009999 0 JOHN T WILMOT P00095129 4016263200 2023-08-19 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z PHILIP B TEDESCO 100 BIGNALL STREET WARWICK RI 02888 3503299 0 X WWW.RIREALTORS.ORG X 1963 RI TO PROVIDE CONTINUING EDUCATION AND INFORMATION TO MEMBERS. 41 41 26 60 1541099 0 0 0 1782715 1878088 41433 84112 1498926 1541099 3323074 3503299 32555 20506 0 0 2523645 2586046 0 0 0 669211 774285 3225411 3380837 97663 122462 5016397 4745040 1320419 1195322 3695978 3549718 X THE RI ASSOCIATION OF REALTORS EXISTS TO UNITE THE REALTORS OF THIS STATE FOR THE PURPOSE OF EXERTING EFFECTIVELY A COMBINED INFLUENCE UPON MATTERS AFFECTING REAL ESTATE INTERESTS. TO ENABLE REALTORS AND OTHERS TO TRANSACT THEIR BUSINESS CONNECTED WITH THE BUYING, SELLING, RENTING AND CARING FOR REAL ESTATE, TO BETTER ADVANTAGE TO THEMSELVES AND THEIR CLIENTS, BY THE ADOPTION OF SUCH RULES AND REGULATIONS AS MAY BE DEEMED PROPER. TO PROMOTE AND MAINTAIN THE HIGH STANDARDS OF CONDUCT IN THE TRANSACTION OF REAL ESTATE. TO PROMOTE THE INDIVIDUAL OWNERSHIP OF HOMES AND REAL ESTATE IN THE STATE OF RHODE ISLAND AS A WISE AND PROFITABLE INVESTMENT. TO CO-OPERATE WITH OTHER ORGANIZATIONS IN THE CIVIC DEVELOPMENT AND THE ECONOMIC GROWTH OF THE STATE OF RHODE ISLAND. TO PROVIDE THE VAST NUMBER OF HOME-OWNERS AND PROPERTY-OWNERS IN OUR STATE WITH A GRASS-ROOTS CONNECTION THROUGH OUR ASSOCIATION TO ADVANCE CIVIC DEVELOPMENT AND ECONOMIC GROWTH IN RI. 0 0 2818847 1251358 MEMBERSHIP DUES ARE BASED ON THE BUDGETARY NEEDS TO FINANCIALLY ACCOMPLISH PRE-PLANNED OBJECTIVES. THE PROFITS FROM THE EDUCATIONAL PROGRAM AND INCOME FROM INVESTMENTS OFFSETS SOME OF THE EXPENSES RELATED TO THESE OBJECTIVES, AND THE REMAINDER IS FUNDED BY THE DUES. THE MAJOR EXPENSES FUNDED BY DUES INCLUDE THE ADMINISTRATIVE FUNCTION WHICH INCLUDES BANK FEES AND MEETING EXPENSES. ALSO INCLUDED IS THE GOVERNANCE FUNCTION WHICH INCLUDES LEADERSHIP TRAINING FOR OUR VOLUNTEER LEADERS, STRATEGIC PLANNING AND TRAVEL TO THE NATIONAL ASSOCIATION OF REALTOR MEETINGS. ANOTHER AREA FUNDED BY THE DUES INCOME IS MEMBERSHIP SERVICES EXPENSES. THIS AREA INCLUDES PROFESSIONAL STANDARDS EXPENSES RELATED TO TRAINING AND ARBITRATION HEARINGS. THIS AREA ALSO INCLUDES THE EXPENSE OF OUR ON-LINE FORMS APPLICATION WHICH PROVIDES ALL OF OUR COPYRIGHTED FORMS TO OUR MEMBERS TO UTILIZE IN THEIR TRANSACTIONS. COMMUNICATION AND PUBLIC RELATIONS IS FUNDED BY DUES INCOME. THIS AREA INCLUDES THE COST OF OUR PUBLIC RELATIONS CONSULTANT, PRESS RELEASES, AND AN ELECTRONIC NEWSLETTER TO OUR MEMBERSHIP. OUR CONTRACT LOBBYIST IS FUNDED THROUGH THE DUES INCOME AS WELL AS LOBBYING EXPENSES INCURRED BY OUR STAFF. DUES ALSO FUND ALL OF OUR OVERHEAD EXPENSES WHICH INCLUDE OUR RENT AND UTILITIES FOR OUR OFFICE SPACE, AND SALARIES AND RELATED BENEFITS FOR THOSE EMPLOYEES WHO WORK FOR THE ASSOCIATION. 468187 20506 502101 THE PROFESSIONAL DEVELOPMENT DEPARTMENT IS OUR EDUCATION DEPARTMENT. WE PROVIDE OUR MEMBERS WITH THE ABILITY TO MEET THE MANDATES OF THE DEPARTMENT OF BUSINESS REGULATION'S MINIMUM REQUIREMENT FOR LICENSURE. THE PROF. DEVELOPMENT DEPT. OFFERS ALL OF THE MANDATORY COURSES AS WELL AS A GOOD NUMBER OF OPTIONAL COURSES TO MEET THE CREDIT HOURS MANDATED BY "DBR". WE ALSO OFFER MANY EDUCATIONAL COURSES BEYOND THE MINIMUM REQUIREMENT TO ENABLE THEM TO REMAIN CURRENT WITH INDUSTRY STANDARDS. WE ALSO OFFER A GROUP OF COURSES WHICH, IF TAKEN, AFFORD THE MEMBER THE HONOR OF A DESIGNATION ACKNOWLEDGED BY THE NATIONAL ASSOCIATION OF REALTORS. 81662 12737 THE ANNUAL MEETING INCLUDES OUR FINANCIAL REVIEW FOR THE PREVIOUS YEAR, REVIEW OF THE MINUTES FROM THE PREVIOUS ANNUAL MEETING, INCLUDES A VOTE ON ANY PROPOSED BY-LAW CHANGES, ACKNOWLEDGES ALL OF THE VOLUNTEERS WHO HAVE SERVED IN LEADERSHIP AND COMMITTEE POSITIONS FOR THE YEAR, AND ALSO SERVES AS THE VENUE FOR THE INSTALLATION OF OFFICERS FOR THE NEW YEAR.THE ANNUAL PROGRAM (MINI CONVENTION) IS AN ALL-DAY EVENT THAT INCLUDES SPEAKERS (SOME PAID AND SOME VOLUNTEER) WHO SPEAK ABOUT CURRENT ISSUES AND TRENDS, TECHNOLOGY AND OTHER BUSINESS RELATED TOPICS. THE EVENT INCLUDES A BUFFET LUNCH, AND A SMALL TRADE SHOW AREA. THE ASSOCIATION GETS SPONSORSHIP MONEY FROM AFFILIATE MEMBERS, AND ALSO CHARGES A FEE FOR AN EXHIBITOR BOOTH FOR THE TRADE SHOW. MOST OF THE TRADE SHOW BOOTHS ARE PURCHASED BY COMPANIES THAT ARE DIRECTLY INVOLVED WITH THE REAL-ESTATE BUSINESS. THERE IS NO CHARGE TO OUR MEMBERSHIP TO ATTEND THIS INFORMATION DAY. ALTHOUGH IT IS NOT A MONEY MAKER, IT IS A HUGE MEMBERSHIP BENEFIT WHICH THE REALTORS AND VENDORS APPRECIATE. 12141 111892 OTHER PROGRAM SERVICES 12141 111892 3380837 0 0 0 1 0 0 0 0 1 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 47 0 1 26 1 1 1 0 0 0 0 0 0 0 X 41 41 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X CLAUDIA CHAPPELLE FINANCE DIRECTOR 4014326944 100 BIGNALL ST WARWICK RI 02888 LEANN D'ETTORE DIRECTOR 1.00 X 0 0 0 AGUEDA DEL BORGO PRESIDENT 20.00 X X 0 0 0 SALLY HERSEY VICE PRESIDENT 5.00 X X 0 0 0 CHRISTOPHER WHITTEN TREASURER 5.00 X X 0 0 0 BRYANT DA CRUZ PRESIDENT-ELECT 20.00 X X 0 0 0 SHANNON BUSS DIRECTOR 1.00 X 0 0 0 GREGORY ECCLESTON DIRECTOR 1.00 X 0 0 0 WILLIAM FAIN DIRECTOR 1.00 X 0 0 0 CRYSTAL D'AGOSTINO DIRECTOR 1.00 X 0 0 0 JENNIFER HILTON DIRECTOR 1.00 X 0 0 0 BRIAN RUSSELL DIRECTOR 1.00 X 0 0 0 ROBERT WILLIAMSON DIRECTOR 1.00 X 0 0 0 DONALD PARSONS DIRECTOR 1.00 X 0 0 0 ALEXANDER PARMENIDEZ DIRECTOR 1.00 X 0 0 0 MICHAEL PEREIRA DIRECTOR 1.00 X 0 0 0 RITA STEELE DIRECTOR 1.00 X 0 0 0 RICKARD SMITH DIRECTOR 1.00 X 0 0 0 THOMAS SWEENEY SECRETARY 5.00 X X 0 0 0 SUSAN KELLY DIRECTOR 1.00 X 0 0 0 BRUCE ALLEN DIRECTOR 1.00 X 0 0 0 STEPHEN ANTONI DIRECTOR 1.00 X 0 0 0 DEAN DETONNANCOURT DIRECTOR 1.00 X 0 0 0 VICTORIA DORAN DIRECTOR 1.00 X 0 0 0 DAVID IANNUCCILLI DIRECTOR 1.00 X 0 0 0 PAUL LEYS DIRECTOR 1.00 X 0 0 0 JOSEPH LUCA DIRECTOR 1.00 X 0 0 0 ROBERT MARTIN DIRECTOR 1.00 X 0 0 0 KARL MARTONE DIRECTOR 1.00 X 0 0 0 SALVATORE MOIO DIRECTOR 1.00 X 0 0 0 ROBERT SCARALIA DIRECTOR 1.00 X 0 0 0 EDWARD STACHURSKI DIRECTOR 1.00 X 0 0 0 CHRISTINE TANNER DIRECTOR 1.00 X 0 0 0 ARTHUR YATSKO DIRECTOR 1.00 X 0 0 0 ASHLEY ALMEIDA DIRECTOR 1.00 X 0 0 0 KAREN CATUOGNO DIRECTOR 1.00 X 0 0 0 JULIE FRESHMAN DIRECTOR 1.00 X 0 0 0 MICHELLE KEACH DIRECTOR 1.00 X 0 0 0 NICHOLAS SLOCUM DIRECTOR 1.00 X 0 0 0 MARY ULRICH BUDLONG DIRECTOR 1.00 X 0 0 0 PATRICIA ROBITAILLE DIRECTOR 1.00 X 0 0 0 RONALD DIMALINE DIRECTOR 1.00 X 0 0 0 PHILIP TEDESCO CEO 40.00 X 274478 0 59510 CLAUDIA CHAPPELLE CFO 40.00 X 124665 0 24930 399143 0 84440 2 0 1 0 0 MEMBERSHIP DUES 531390 1251358 1251358 EDUCATION PROGRAMS 531390 502101 502101 OTHER 531390 111892 111892 ANNUAL CONVENTION 531390 12737 12737 1878088 84112 84112 REIMBURSEMENTS FROM SUBSIDIARY 561000 1541099 1541099 1541099 3503299 1878088 1541099 84112 20506 482503 1549857 160154 238492 155040 2244 26226 18408 88313 32164 37452 94585 53196 6000 13908 9258 DIRECT EDUCATION PROGRA 184626 OTHER OPERATING COSTS 105582 BANK SERVICE CHARGES 42980 ANNUAL MEETING 29261 30082 3380837 636996 746462 3970817 3830597 19397 34223 13654 13336 36584 24132 163579 147076 30411 16503 15058 12921 293480 66866 5016397 4745040 364501 241240 955918 954082 1320419 1195322 X 3695978 3549718 3695978 3549718 5016397 4745040 122462 -268722 0 X 0 1 X 0 0 0 0 1 1251358 63505 2120 65625 62568 3057 124487 7988 132475 121762 2725 124487 119483 2279 121762 117574 1909 119483 116068 1506 117574 1.00000 0 0 62010 49332 12678 101569 97744 3825 16503 X 3234577 -268722 -268722 3503299 0 3503299 3413391 32554 32554 3380837 0 3380837 PART V, LINE 4: RESOURCES THAT HAVE BEEN DESIGNATED BY THE BOARD OF DIRECTORS TO LEGAL ACTION PROGRAMS. PART X, LINE 2: THE ASSOCIATION ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. INTEREST AND PENALTIES ASSESSED, IF ANY, ARE ACCRUED AS INCOME TAX EXPENSE. IN ADDITION TO ITS TAX EXEMPT STATUS, RIAR HAS OTHER TAX POSITIONS THAT HAVE BEEN DETERMINED TO BE HIGHLY CERTAIN AND, THEREFORE, NO RESERVE FOR UNRECOGNIZED TAX LIABILITY IS DEEMED NECESSARY. IN ADDITION TO ITS STATE TAX EXEMPTION, MLS HAS OTHER TAX POSITIONS THAT HAVE BEEN DETERMINED TO BE HIGHLY CERTAIN AND, THEREFORE, NO RESERVE FOR UNRECOGNIZED TAX LIABILITY IS DEEMED NECESSARY. BOTH RIAR AND MLS FILE INCOME TAX RETURNS FOR U.S. FEDERAL INCOME TAXES AND THEY ARE NOT UNDER EXAMINATION BY ANY TAXING JURISDICTION. INCOME TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. PART XII, LINE 2D - OTHER ADJUSTMENTS: ACCRUED DONATION REPORTED ON PRIOR YEAR FORM 990 1 REALTOR FOUNDATION - RHODE ISLAND 1136 NEWPORT AVE PAWTUCKET RI 02861 204683776 501(C)(3) 15001 0 GENERAL FUNDING 6 PART I, LINE 2: THE RHODE ISLAND ASSOCIATION OF REALTOR'S CEO, PHILIP TEDESCO, IS RESPONSIBLE FOR ENSURING THAT THE REALTOR FOUNDATION-RHODE ISLAND IS USING THE RHODE ISLAND ASSOCIATION OF REALTORS DONATIONS IN ACCORDANCE WITH THE REALTOR FOUNDATION-RHODE ISLAND'S BY-LAWS. X X X 0 0 0 PHILIP TEDESCO CEO 259552 0 14926 0 0 0 32562 0 26948 0 333988 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE RHODE ISLAND ASSOCIATION OF REALTORS HAS THREE CLASSIFICATIONS OF MEMBERS ASSOCIATED WITH THEIR ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE RHODE ISLAND ASSOCIATION OF REALTORS ELECT MEMBERS FOR THE GOVERNING BOARD WHEN THEIR TERMS EXPIRE. THERE ARE THREE CLASSES OF MEMBERS; PRIMARY, SECONDARY AND AFFILIATE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE 990 WILL NOT BE REVIEWED BY THE GOVERNING BOARD BEFORE IT IS FILED. THE CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER REVIEW THE 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C GOVERNING BOARD MEMBERS ARE REQUIRED TO SIGN THE CONFLICT OF INTEREST STATEMENT ANNUALLY. THE POLICY IS OPENLY DISCUSSED WITH EMPLOYEES AS WELL AS MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 15 AN INDEPENDENT SALARY AUDIT IS PERFORMED BI-ANNUALLY BY AN INDEPENDENT CONTRACTOR USING DATA FROM SIMILAR NOT-FOR-PROFIT ORGANIZATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE REALTOR FOUNDATION-RHODE ISLAND 100 BIGNALL STREET WARWICK RI 028881005 204683776 TO ORGANIZE VOLUNTEERS AND RAISE MONEY FOR ALTRUISTIC PURPOSES. RI 501(C)(3) PUBLIC CHARITY N/A 0 REALTORS PAC OF RI 100 BIGNALL STREET WARWICK RI 028881005 452047797 POLITICAL ACTION COMMITTEE RI 527 N/A 0 STATEWIDE MULTIPLE LISTING SERVICE 100 BIGNALL STREET WARWICK RI 02888 050349448 REAL ESTATE LISTINGS RI N/A C 231100 2896325 1.00000 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 STATEWIDE MULTIPLE LISTING SERVICE INC Q 1537599 AT COST REALTORS PAC OF RI Q 3500