2026-07-08T15:10:56+00:00 2025-09-30 350921680 CROWE LLP 701 13th St NW Suite 852 Washington DC 20005 990 2024-10-01 360904580 Chicago Association of REALTORS CHIC 3128034900 430 N Michigan Ave 800 CHICAGO IL 60611 Robert P Schmidt CPA MBA CFO 2026-07-08 true Steve Lenivy P01635350 2026245555 2026-07-08 2024 2025-03-06 01:10:19Z MICHELLE MILLS CLEMENT 430 N Michigan Ave 800 CHICAGO IL 60611 9353865 false X WWW.CHICAGOREALTOR.COM X 1883 IL TO UNITE THE REAL ESTATE INDUSTRY IN CHICAGO THROUGH EDUCATION AND RESEARCH. 20 20 43 350 68959 40511 119983 82444 7964668 7779020 190056 199641 204588 232818 8479295 8293923 98765 38985 0 4511078 4248157 0 0 4403644 4338039 9013487 8625181 -534192 -331258 7480304 6633008 4847965 4176319 2632339 2456689 THE CHICAGO ASSOCIATION OF REALTORS, THE "VOICE FOR REAL ESTATE" IN CHICAGO, REPRESENTS 16,400 MEMBERS FROM ALL REAL ESTATE SPECIALTIES, INCLUDING COMMERCIAL SALES, DEVELOPMENT, PROPERTY MANAGEMENT, APPRAISALS, AUCTIONS, AND RESIDENTIAL SALES, WITH EVENTS AND SERVICES TO PROMOTE UNITY AMONG MEMBERS, EDUCATION, AND RESEARCH. false false MEMBER EVENTS: UNITE THOSE ENGAGED IN THE REAL ESTATE BUSINESS; ORGANIZED TO PROMOTE AND PROTECT THE INTERESTS OF MEMBERS AND OTHER PERSONS ENGAGED IN REAL ESTATE TRANSACTIONS AND PROPERTY MANAGEMENT. MEMBER SERVICES: RESEARCH PROGRAMS, WHICH COMPILE RELIABLE DATA CONCERNING REAL ESTATE, ITS TRENDS, AND MARKET CONDITIONS. MEMBER DEVELOPMENT: PROVIDE REAL ESTATE EDUCATIONAL FACILITIES FOR MEMBERS AND, WHEN PRACTICAL, FOR NON-MEMBERS. 0 false true true false true false false false false false true false false true true true false true false false false false false false false false false true false true false false false false false false false false false false false false false false false true true true false false true 55 0 true 43 true true true false false false false false false false X 20 20 false false true false true false false true true false false false true true true true true true true false false false X Robert P Schmidt 3128034900 430 N Michigan Ave Suite 800 CHICAGO IL 60611 Erika Vilegas President 2.0 0.2 X X 9750 0 0 Lutalo McGee President-Elect 1.0 0.2 X X 6000 0 0 Victoria Silvano Treasurer 1.0 0 X X 1500 0 0 Amy Hall Director 1.0 0 X 0 0 0 Amy Wu Director 1.0 0 X 0 0 0 Deanous Reed Director 1.0 0 X 0 0 0 Erik Schwab Director 1.0 0 X 0 0 0 Gaspar Flores Jr Director 1.0 0 X 0 0 0 Genie Birch Director 1.0 0 X 0 0 0 Hipolito Garcia Director 1.0 0 X 0 0 0 Kim Kerbis Director 1.0 0 X 0 0 0 Linda Hattar Director 1.0 0 X 0 0 0 Marki Lemons Ryhal Director 1.0 0 X 0 0 0 Megan Oswald Director 1.0 0.2 X 0 0 0 Michael Williamson Director 1.0 0 X 0 0 0 Rachel Scheid Director 1.0 0.2 X 0 0 0 Sarah Ware Past President 3.0 0 X 1500 0 0 Sheila Dantzler Director 1.0 0 X 0 0 0 Staci Slattery Director 1.0 0 X 0 0 0 Wayne Beals Director 1.0 0 X 0 0 0 Dave Naso VP Membership (10/24-05/25) COO (beginning 05/25) 40.0 0 X 180800 0 6106 Jessica Kern Chief Communications Officer 45.0 0 X 226958 0 16125 Michelle Mills Clement CEO 51.0 0.5 X 503864 0 41071 Robert Schmidt CFO 46.0 0.5 X 240447 0 14503 Zachariah Wahlquist COO (through 01/25) 40.0 0 X 261435 0 17205 Brent Dornbos Sr Director of Events 45.0 0 X 130618 0 16821 Chelsea Hayes Chief of Staff 45.0 0 X 185342 0 12187 Chris Huizenga Director of School 41.0 0 X 125478 0 18735 Jay Turner HR & Operations Mgr 40.0 0 X 102140 0 12186 Mary Beth Durkin Sponsorship Account Manager 42.0 0 X 115330 0 12489 2091162 0 167428 11 false true false Crowe LLP PO Box 71570 Chicago IL 60694 Auditing & Tax Services 150644 1 5000 77444 82444 MEMBERSHIP DUES 531390 5640718 5640718 MEMBER PROFESSIONAL DEVELOPMENT 611600 912580 912580 MEMBER FEES 531390 983567 983567 MEMBER EVENTS 531390 242155 242155 0 0 0 0 7779020 155870 25483 130387 100783 32426 68357 17343 0 17343 0 17343 17343 1046183 1001118 1294 45065 -1294 43771 43771 110921 57530 53391 53391 ADMINISTRATIVE FEES FROM RELATED ORGANIZATION 900099 45330 45330 Advertising 541800 11050 11050 Miscellaneous Revenue 900099 4921 4921 0 0 0 0 61301 8293923 7824350 68959 318170 38985 1406520 2275224 64062 234735 267616 66632 72742 27031 234661 252277 978593 529345 109963 512882 70379 member events and services 726804 association governance & government affairs 322934 Staff training 222753 member promotion and professional development 141098 69945 8625181 1546193 1681583 41472 41420 0 0 0 0 12685 21108 155776 208925 5294812 4185263 1501981 1109549 2842473 3097234 0 0 1379724 473189 7480304 6633008 612446 633054 2925045 2673994 0 0 1310474 869271 4847965 4176319 X 2632339 2456689 2632339 2456689 7480304 6633008 -331258 155608 0 X false true true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 10000 10000 true REALTORS POLITICAL ACTION COMMITTEE OF ILLINOIS 522 S FIFTH STREET SPRINGFIELD IL 62701 370951209 10000 0 false false false 5640718 0 0 3053179 2545369 507810 2241633 1639894 601739 1109549 DUE FROM AFFILIATE - NIREIN RIGHT TO USE OFFICE SPACE 292822 RIGHT TO USE OFFICE EQUIPMENT 180367 473189 Federal Income Taxes DUES PAYABLE TO NATIONAL AND STATE ASSOCIATIONS 109258 LEASE LIABILITY FOR OFFICE SPACE 760013 869271 X 8491576 155608 57530 213138 8278438 15485 15485 8293923 8667226 57530 57530 8609696 15485 15485 8625181 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote Because of the nature of its primary purpose, CAR has been determined by the Internal Revenue Service to be exempt from federal income tax under the provision of Section 501(c)(6) of the Internal Revenue Code, except to the extent of any unrelated business income. CAR had unrelated business income from advertising revenue and imputed interest in 2025 and 2024. The tax returns for all organizations for the last three years are open years for purposes of any future IRS or state of Illinois examinations. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Cost of Goods Sold - 57530 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Contribution to Related Organization (CAREF) - 15485 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Cost of goods sold - 57530 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements CONTRIBUTION TO RELATED ORGANIZATION (CAREF) - 15485 true National Association of Realtors 430 N Michigan Ave Chicago IL 60611 361520690 501(C)(6) 7500 Sponsor C5 Conference Realtors Political Action Committee of Illinois 522 S Fifth Street Springfield IL 62794 370951209 527 5100 4900 FMV Purchase auction items Corporate contribution for advancement of Realtor interests at State & National levels Chicago Association of Realtors Education Foundation 430 N Michigan Avenue Suite 800 Chicago IL 60611 363746120 501(C)(3) 15485 Real Estate Education, fighting homelessness, and other charitable endeavors Women's Council of Realtors-Chicago PO BOX 11352 Chicago IL 60611 364066572 6000 Sponsor various events 1 3 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds A REPRESENTATIVE OF THE ORGANIZATION IS IN CLOSE CONTACT THROUGHOUT THE YEAR WITH ORGANIZATIONS TO WHICH FINANCIAL ASSISTANCE IS PROVIDED TO ENSURE FUNDS ARE USED FOR THEIR INTENDED PURPOSE. X true true X X X false true false Jessica Kern Chief Communications Officer 192451 0 20000 0 14507 0 6981 0 9144 0 243083 0 0 0 Michelle Mills Clement CEO 382818 0 85000 0 36046 0 10350 0 30721 0 544935 0 0 0 Dave Naso VP Membership (10/24-05/25) COO (beginning 05/25) 157800 0 20000 0 3000 0 5442 0 664 0 186906 0 0 0 Robert Schmidt CFO 198786 0 20000 0 21661 0 7349 0 7154 0 254950 0 0 0 Zachariah Wahlquist COO (through 01/25) 234179 0 22000 0 5256 0 8042 0 9163 0 278640 0 0 0 Chelsea Hayes Chief of Staff 172842 0 10000 0 2500 0 3860 0 8327 0 197529 0 0 0 Schedule J, Part I, Line 1a Travel for companions The CEO is allowed a travel allowance of up to $3,500 per year for the purpose of allowing her spouse or family member to attend employer related out of town events. This is not treated as taxable compensation. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan Michelle Mills Clement (CEO) participated in the 457b plan that was established. She contributed $4,114 in calendar year 2024. Form 990, Part VI, Line 15b PROCESS USED TO ESTABLISH COMPENSATION OF OTHER OFFICERS/KEY EMPLOYEES Compensation for the organization's top financial official is determined by the CEO after reviewing the Annual Chicagoland Association Forum Compensation & Benefits Survey Booklet, salary.com and payscale.com. The location (city of Chicago), the revenues ($5-10M), and the staff size (21-50) are the factors utilized. The target is to be within the 25th to 75th percentile. Form 990, Part VI, Line 1a Delegate broad authority to a committee Each member of the Executive Committee shall be a member of the board of directors. The purpose of the Executive Committee is to make policy recommendations for Board approval and is empowered to act on behalf of the board between meetings, including ratification of Professional Standards cases. Except as specifically authorized by the Board of Directors by resolution duly adopted, no committee or work group shall have any authority to amend, alter or, repeal the bylaws; elect, appoint or, remove any member of any committee or any director or officer of CAR; amend the articles of incorporation; adopt a plan of consolidation with another corporation; authorize the sale, lease, or exchange of any of the property or assets of CAR; authorize the voluntary dissolution of CAR; or amend, alter or, repeal any resolution of the Board of Directors. The designation and appointment of any committee or work group and the delegation to that committee or work group of authority shall not operate to relieve the Board of Directors or any individual director of any responsibility imposed upon it or any individual director by law. Form 990, Part VI, Line 4 Significant changes to organizational documents During the fiscal year ended September 30, 2025, the organization amedended its bylaws to: -revise the board composition -revise the requirements for a quorum of the board of directors -remove regional directors -revise the composition of at-large directors Form 990, Part VI, Line 6 Classes of members or stockholders THERE ARE EIGHT CATEGORIES OF MEMBERS AUTHORIZED IN THE ORGANIZATION'S BYLAWS, AS FOLLOWS: 1. REALTOR Members. a. Individuals who, as sole proprietors, partners, corporate officers, or branch office managers, are engaged actively in the real estate profession, including buying, selling, exchanging, renting or leasing, managing, appraising for others for compensation, counseling, building, developing or subdividing real estate, and who maintain or are associated with an established real estate office in the State of Illinois or a state contiguous thereto. All persons who are partners in a partnership, or all officers in a corporation who are actively engaged in the real estate profession within the state or a state contiguous thereto shall qualify for REALTOR membership only, and each is required to hold REALTOR membership (except as provided in the following paragraph) in an association of REALTORS within the state or a state contiguous thereto, unless otherwise qualified for Institute Affiliate membership. b. In the case of a real estate firm, partnership, or corporation, whose business activity is substantially all commercial, only those principals actively engaged in the real estate business in connection with the same office, or any other offices within the jurisdiction of the association in which one of the firm's principals holds REALTOR membership, shall be required to hold REALTOR membership unless otherwise qualified for Institute Affiliate membership. c. Individuals who are engaged in the real estate profession other than as sole proprietors, partners, corporate officers, or branch office managers and are associated with a REALTOR Member and meet the qualifications. REALTOR Members may be: - A Primary REALTOR Members has selected CAR as its "Primary" Association. - A Secondary REALTOR Members has not not selected CAR as its "Primary" Association. - A Designated REALTOR Members is a sole proprietor, partner, corporate officer, or branch office manager acting on behalf of the firm's principal(s), who has been designated in writing to be responsible for all duties and obligations of membership. 2. Franchise REALTOR Members. Corporate officers (who may be licensed or unlicensed) of a real estate brokerage franchise organization with at least one hundred fifty (150) franchisees located within the United States, its insular possessions and the commonwealth of Puerto Rico, elected to membership pursuant to the provisions in the NAR Constitution and Bylaws. Such individuals shall enjoy all of the rights, privileges, and obligations of REALTOR membership (including compliance with the Code of Ethics) except: obligations related to association-mandated education, meeting attendance, or indoctrination classes or other similar requirements; the right to use the term REALTOR in connection with their franchise organization's name; and the right to hold elective office in the local association, state association, and NAR. 3. Institute Affiliate Members. Institute Affiliate Members shall be (a) individuals who hold a professional designation awarded by an Institute, Society, or Council affiliated with NAR that addresses a specialty area other than residential brokerage, or (b) individuals who otherwise hold a class of membership in such Institute, Society, or Council that confers the right to hold office. Any such individual, if otherwise eligible, may elect to be a REALTOR Member, subject to payment of applicable dues. 4. Affiliate Members. Affiliate Members shall be individuals, firms, or corporations, wherever residing or located, who, while not engaged in the real estate profession as described in Paragraph 6.1.A or Section 6.5 of these Bylaws, have interests requiring information concerning real estate, and who share and are in sympathy with the objectives of CAR. Affiliate Members shall not be entitled to vote, to hold office, use the term REALTOR or be a Participant or Subscriber in CAR / MLS (MRED); except as provided under Article XVIII of these Bylaws. 5. Honorary Members. Honorary Members shall be individuals who are not engaged in the real estate profession but who have performed notable service for the real estate profession, for CAR, or for the public. Honorary Members shall not be entitled to vote, to hold office, or to use the term REALTOR. 6. Honorary Life Members. Honorary Life Members shall be (a) the past presidents of CAR or any of its predecessor entities, (b) individuals holding membership for a total of 40 years or more in CAR or any of its predecessor entities, and (c) such other Member regardless of classification or term of membership, who has, pursuant to a duly adopted resolution of the Board of Directors, been granted an exemption from CAR dues, excepting those amounts as shall from time to time constitute the portion of CAR dues to NAR and IR imposed on CAR for such Member's membership in CAR and the Designated REALTOR dues formula. Honorary Life Members shall be entitled to vote and to hold office if prior to becoming an Honorary Life Member the Honorary Life Member was a REALTOR Member of CAR or an active member of any of CAR's predecessor entities. 7. Hall of Fame Members. Hall of Fame Members shall be individuals who satisfy each of the criteria for Hall of Fame membership as set forth in the Policy and Procedure Manual and as determined by the Board of Directors, and who have been nominated by the Hall of Fame Governing Committee and elected to the CAR Hall of Fame by the Board of Directors. Hall of Fame Members shall not be entitled to vote, to hold office, or to use the term REALTOR, unless the Hall of Fame Member is a REALTOR Member. 8. Emeritus Members. Emeritus Members shall be any individual who is a REALTOR Member and who has been a REALTOR-Principal, REALTOR or Honorary Member for 40 or more years. Emeritus Members shall have the right to vote, to hold office, and to use the term REALTOR. A REALTOR Emeritus candidate member must also have completed at least one year of service at the National Association level. Form 990, Part VI, Line 11b Review of form 990 by governing body PRIOR TO FILING THE RETURN WITH THE IRS, A DRAFT OF THE COMPLETED FORM 990 IS REVIEWED BY THE ORGANIZATION'S MANAGEMENT WITH ITS INDEPENDENT PAID TAX PREPARERS. A FINAL COPY OF THE FORM 990 IS MADE AVAILABLE TO THE ORGANIZATION'S BOARD OF DIRECTORS PRIOR TO BEING FILED WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy DIRECTORS, COMMITTEE MEMBERS, AND STAFF ARE REQUIRED TO SIGN A CONFLICT OF INTEREST DISCLOSURE STATEMENT ANNUALLY, IN ACCORDANCE WITH THE ORGANIZATION'S POLICY AND PERSONNEL MANUALS. Board members' conflict of interest disclosure statements are reviewed by the CEO to determine whether a potential or actual conflict exists. Committee members' conflict of interest disclosure statements are reviewed by the staff person assigned to such committee to determine whether a potential or actual conflict exists. If an actual conflict is determined to exist, the individual is recused from discussions and voting on matters relating to such conflict. Form 990, Part VI, Line 15a Process to establish compensation of top management official Compensation set forth in the organization's CEO's 3-year contract is determined by the Executive Committee after review of the compensation survey from the Association Forum, data from salary.com as well as payscale.com and compensation information reported in Forms 990 for other similarly sized Realtor Associations. The Executive Committee reviewed the compensation information and then prepared a formal motion for approval by the board of directors. The approval process for the CEO's 3-year contract was documented in the Executive Committee and board meeting minutes and was last performed in June 2024 as part of the contract renewal process. The approved motion, along with the comparability data, are also placed in the CEO's personnel file. In addition, the Executive Committee reviews the compensation survey from the Association Forum, data from salary.com as well as payscale.com and conducts a formal performance evaluation of the CEO on an annual basis, which was last performed in September 2025 in determining whether pay adjustments and/or bonuses will be awarded per the terms of the CEO's contract. The annual review/approval process is also documented in the Executive Committee meeting minutes. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CHICAGO ASSOCIATION OF REALTORS EDUCATIONAL FOUNDATION INC 430 North MICHIGAN AVENUE Suite 800 CHICAGO IL 60611 363746120 RESEARCH & EDUCATION IN REAL ESTATE IL 501(c)(3) Type I Chicago Association of Realtors true CHICAGO ASSOCIATION OF REALTORS BUSINESS INFORMATION SERVICES INC AND SUBSI DIARIES 430 NORTH MICHIGAN AVENUE Suite 800 CHICAGO IL 60611 474639535 REAL ESTATE INFORMATION SERVICES IL CHICAGO ASSOCIATION OF REALTORS C Corporation 2400258 8496237 1 true true true true false false false false false false false false true false true true false true true true CHICAGO ASSOCIATION OF REALTORS BUSINESS INFORMATION SERVICES INC A 25483 ACTUAL COST