Civic Intelligence

Realtor University

990 • Fiscal year 2014 • EIN 45-2102449

Jan 01, 2014 to Dec 31, 2014 • Filed on Oct 29, 2015

Organization Profilelearninglibrary.com/realtoruniversity
430 N MichiganChicago, IL 60611

(312) 329-8200

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

53rd percentile

0.13x

Higher debt load relative to assets than 53% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

42nd percentile

0.08x

Higher debt load relative to revenue than 42% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

64th percentile

7.9%

Higher net margin than 64% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

100th percentile

$1,638,726

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 105.2% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

84th percentile

23%

Faster asset growth than 84% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

16th percentile

-16%

Faster revenue growth than 16% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Up

$867,619

Up $162,888 (+23%) from 2013

Net Assets

Up

$750,509

Up $123,765 (+20%) from 2013

Liabilities

Up

$117,110

Up $39,123 (+50%) from 2013

Revenue And Expenses
Liabilities / Revenue42nd percentileNet Margin64th percentile

Revenue

Down

$1,557,697

Down $300,022 (-16%) from 2013

Expenses

Down

$1,433,932

Down $406,896 (-22%) from 2013

Net Income

Up

$123,765

Up $106,874 (+633%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth84th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2011: $292,561Liabilities 2011: $33,911Net Assets 2011: $258,6502011Assets 2012: $669,123Liabilities 2012: $59,270Net Assets 2012: $609,8532012Assets 2013: $704,731Liabilities 2013: $77,987Net Assets 2013: $626,7442013Assets 2014: $867,619Liabilities 2014: $117,110Net Assets 2014: $750,5092014Assets 2015: $894,404Liabilities 2015: $69,020Net Assets 2015: $825,3842015Assets 2016: $835,720Liabilities 2016: $51,622Net Assets 2016: $784,0982016Assets 2017: $1,146,527Liabilities 2017: $62,623Net Assets 2017: $1,083,9042017Assets 2018: $875,463Liabilities 2018: $142,650Net Assets 2018: $732,8132018Assets 2019: $483,735Liabilities 2019: $37,825Net Assets 2019: $445,9102019Assets 2020: $189,779Liabilities 2020: $189,779Net Assets 2020: $02020

Highlighted filing

2014

Assets$867,619
Liabilities$117,110
Net Assets$750,509
Open 2014 Filing

Operations Trend

Revenue Growth16th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $885,622Expenses 2011: $734,872Net Income 2011: $150,7502011Revenue 2012: $1,779,979Expenses 2012: $1,428,776Net Income 2012: $351,2032012Revenue 2013: $1,857,719Expenses 2013: $1,840,828Net Income 2013: $16,8912013Revenue 2014: $1,557,697Expenses 2014: $1,433,932Net Income 2014: $123,7652014Revenue 2015: $1,562,174Expenses 2015: $1,487,299Net Income 2015: $74,8752015Revenue 2016: $1,408,368Expenses 2016: $1,449,654Net Income 2016: -$41,2862016Revenue 2017: $2,401,618Expenses 2017: $2,101,812Net Income 2017: $299,8062017Revenue 2018: $1,659,246Expenses 2018: $2,010,337Net Income 2018: -$351,0912018Revenue 2019: $621,653Expenses 2019: $908,556Net Income 2019: -$286,9032019Revenue 2020: $62,747Expenses 2020: $508,657Net Income 2020: -$445,9102020

Highlighted filing

2014

Revenue$1,557,697
Expenses$1,433,932
Net Income$123,765
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Oct 29, 2015
Return Version
2014v5.0
Gross Receipts
$1,557,697
Mission and Program Overview

Mission

REALTOR University is the only institution of higher education focused exclusively on real estate. As a Second Century Venture of the National Assoc. of REALTORS, the University evolved in 2011 to provide an unparalleled master's degree program to real estate professionals. The University offers graduates degrees concentrating in real estate.

REALTOR University is the only institution of higher education focused exclusively on real estate and provides an unparalleled master's degree program to real estate professionals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$598,758$790,661▲ $191,903
Pledges and Grants Receivable$78,250$65,834▼ $12,416
Land, Buildings, and Equipment, Net$14,359$9,960▼ $4,399
Prepaid Expenses and Deferred Charges$7,409$0▼ $7,409
Accounts Receivable$5,955$1,164▼ $4,791
Receivable From Disqualified Prsn$0--
Receivables From Officers Etc$0--
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0--
Total Assets$704,731$867,619▲ $162,888
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$65,224$84,163▲ $18,939
Deferred Revenue$12,763$32,947▲ $20,184
Other Liabilities$0$0→ $0
Total Liabilities$77,987$117,110▲ $39,123
Net Assets / Fund Balance
Temporarily Rstr Net Assets$609,260$604,582▼ $4,678
Unrestricted Net Assets$17,484$145,927▲ $128,443
Total Net Assets Fund Balance$626,744$750,509▲ $123,765
Total Liabilities and Net Assets / Fund Balance$704,731$867,619▲ $162,888

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$61,350$61,350
Equipment$9,960$8,771$18,731
Compensation and Service Providers
Top Officer Pay100th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
-Director, AcademicsFT$187,151$111,470$298,621
-Director, ResearchFT$152,421$28,773$181,194
-Director, Student ServicesFT$107,262$22,250$129,512

Board Members and Trustees

NameTitle
-Chairperson
-President
-Director
-Director (partial Year)
-Chief Financial Officer
-Secretary and Dean, Student Services

Highest Paid Contractors

ContractorServicesLocationCompensation
Devry On-line ServicesBack Office Operations1200 EAST DIEHL ROAD, Naperville, IL 60563$217,783
Revenue and Support

Revenue Composition

Contributions and Grants
$1,184,267
Program Service Revenue
$366,590
Investment Income
$0
Other Revenue
$6,840
All Other Contributions
$246,252
Change in Net Assets
$123,765

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,421,941
Revenue Not Reported on Financial Statements
$135,756
Revenue Not Reported on Form 990
$190,726
Other Revenue Adjustments
$135,756
Total Revenue per Audited Statements
$1,612,667
Total Revenue per Form 990
$1,557,697
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$784,847
Other Expenses$513,329
Grants and Similar Amounts Paid$135,756
Total Fundraising Expense$85,772
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$479,815--$479,815
Other Expenses$311,424--$311,424
Other Salaries and Wages$110,911-$85,701$196,612
Grants to Domestic Individuals$135,756--$135,756
Advertising$61,798$4,990-$66,788
Office Expenses$30,129$21,768-$51,897
Payroll Taxes$41,124$10,200-$51,324
Travel$26,691$18,878-$45,569
Pension Plan Contributions$30,922$7,700-$38,622
Conferences and Meetings$24,762--$24,762
Other Employee Benefits$14,774$3,700-$18,474
Fees for Services Other$7,500$0$71$7,571
Depreciation Depletion$4,399--$4,399
Information Technology$378$377-$755
Insurance$164--$164
Total Functional Expenses$1,280,547$67,613$85,772$1,433,932

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,488,902
Total Expenses per Form 990$1,433,932
Expenses per Audited Statements$1,298,176
Expenses Not Reported on Form 990$190,726
Expenses Not Reported on Financial Statements$135,756
Other Expense Adjustments$135,756
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0--
Receivables from Disqualified Persons$0--
Receivables from Officers, Directors, Trustees, and Key Employees$0--
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 15 FORM 990, PART VI, SECTION C, LINE 15A AND 15B

“In 2014 realtor university did not have any compensated officers or key employees per the irs definition as such. Lines 15a and 15b have been checked "no" in accordance with the instructions to the form 990.”

Form 990, Part VI, Line 6 Classes of members or stockholders

“The University's financial statements are consolidated into the financial statements of the Center for Specialized REALTOR Education (CSRE), an Illinois nonprofit corporation of which NAR is the sole corporate member. CSRE controls the University through its ability to appoint member to the University's Board of Regents.”

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

“See above.”

Form 990, Part VI, Line 11B Review of form 990 by governing body

“The tax return is reviewed and approved by the Chief Financial Officer before it is filed. The CFO then presents the return to the entire Board of Regents at its December 2015 meeting.”

Form 990, Part VI, Line 12C Conflict of interest policy

“The University uses/follows the conflict of interest policy of the Center for Specialized REALTOR Education. On an annual basis, the directors and officers of the organization received a questionnaire designed to the help identify any conflicting issues that may need to be addressed by the governing body. If any conflicts are noted, they are addressed by the Board in a timely manner. Also, if necessary, the NAR General Council is consulted about appropriate steps to take if a conflict is identified. Any person that has a conflict is not allowed to vote on transactions or decisions for which that individual may personally benefit. Steps to alleviate, monitor and deal with conflicts such as restricting the actions of persons with a conflict by prohibiting them from participating in the governing body's deliberations and decisions for a particular transaction.”

Form 990, Part VI, Line 19 Required documents available to the public

“The organization makes its governing documents and financial statements available to the public on a case by case basis upon request. Conflict of interest policies are available upon request at any time.”

Form 990, Part VII, Section A, Line 1A Form 990, Part VII, Section A, Line 1A

“All compensation disclosed in Part VII and Schedule J for Dale Stinton represent payments from NAR for services related only to NAR operations.”

Filing and Contact Details

Filer

Filer Name
Realtor University
EIN
45-2102449
Phone
3123298200
Address
430 N Michigan, Chicago, IL 60611

Signing Officer

Name
Dale Stinton
Title
President
Signed
2015-10-29
Discuss with paid preparer
Yes

Organization Details

Formed
2011
Legal Domicile
Il
Voting Board Members
12
Independent Board Members
11
Employees
17
Volunteers
50

Preparer

Firm
Crowe Horwath Llp
Address
225 West Wacker Drive, Suite 2600, Chicago, IL 60606-1224
Preparer
Nicole Bencik
Phone
3128997000
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2 New program services

“In October 2014, the REALTOR University Center for Real Estate Studies entered into a collaborative agreement with REALTORS Property Resource (RPR) on a special research program to develop comprehensive analyses and insights into Broker Location Decision Support. The resulting intellectual property will be jointly owned by both the University and RPR.”

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

“The University follows guidance issued by the Financial Accounting Standards Board (FASB) with respect to accounting for uncertainty in income taxes. A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. The University recognizes interest and penalties related to unrecognized tax benefits in interest and income tax expense, respectively. The University has no amounts accrued for interest or penalties as of December 31, 2014 and 2013. Due to its tax-exempt status, the University is not subject to U.S federal or state income tax. The University is not subject to examination by U.S federal or state taxing authorities for years prior to 2011, the first year of the University's existence. The University does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months.”

Schedule D, Part XI, Line 4(B) Other revenues in form 990 not in audited financial statements

“Scholarships awarded netted with revenue - 135756”

Schedule D, Part XII, Line 4(B) Other expenses in form 990 not in audited financial statements

“Scholarships awarded netted with revenue - 135756”

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IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt2RICHARD MENDENHALL
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt3GINGER DOWNS
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IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt6TERRI FRIEL
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt7LESLIE ROUDA SMITH
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt8MERLE WHITEHEAD
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt9RON PHIPPS
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt10MARY MARTINEZ-GARCIA
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IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt13MARC GOULD
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt14JOHN PIERPOINT
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt15DAVID OVERBYE
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt16JONATHAN SALK
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt17PETER BURLEY
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt14CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR, ACADEMICS
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR, STUDENT SERVICES
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR, RESEARCH
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IRS990/MissionDesc0REALTOR University is the only institution of higher education focused exclusively on real estate. As a Second Century Venture of the National Assoc. of REALTORS, the University evolved in 2011 to provide an unparalleled master's degree program to real estate professionals. The University offers graduates degrees concentrating in real estate.
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IRS990/ProgSrvcAccomActy2Grp/Desc0REALTOR UNIVERSITY BEGAN DEVELOPMENT OF ITS RESEARCH CENTER TO CONDUCT AND DISSEMINATE REAL ESTATE RESEARCH AND DATA AND POLICY ANALYSIS. REALTOR UNIVERSITY STUDENTS RECEIVE ACCESS TO AN UNMATCHED LIBRARY OF RESOURCES, AND A DEEPER UNDERSTANDING OF HOW SPECIALIZING IN SPECIFIC MARKETS, SUCH AS BUYERS AND SELLERS 50-PLUS, OR COMMERCIAL REAL ESTATE CAN ASSIST WITH LONG TERM GOALS. IN 2013, REALTOR UNIVERSITY ENTERED INTO A COLLABORATIVE AGREEMENT WITH THE ASIAN REAL ESTATE ASSOCIATION OF AMERICA (AREAA) IN WHICH THEY ARE COLLABORATING ON A SPECIAL RESEARCH PROJECT (THE "PROGRAM") AIMED AT EXAMINING HOW REAL ESTATE IMPACTS ASIAN IMMIGRANT POPULATIONS.
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Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$867,619
Liabilities
$117,110
Net assets
$750,509
Revenue
$1,557,697
Expenses
$1,433,932
Net income
$123,765
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$0.19$0.19$0.00$0.06$0.51$0.45
2019Detailed filing. Detailed filing data is available for this year.$0.48$0.04$0.45$0.62$0.91$0.29
2018Detailed filing. Detailed filing data is available for this year.$0.88$0.14$0.73$1.66$2.01$0.35
2017Detailed filing. Detailed filing data is available for this year.$1.15$0.06$1.08$2.40$2.10$0.30
2016Detailed filing. Detailed filing data is available for this year.$0.84$0.05$0.78$1.41$1.45$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.89$0.07$0.83$1.56$1.49$0.07
2014Detailed filing. Detailed filing data is available for this year.$0.87$0.12$0.75$1.56$1.43$0.12
2013Summary only. Only limited summary data is available for this year.$0.70$0.08$0.63$1.86$1.84$0.02
2012Summary only. Only limited summary data is available for this year.$0.67$0.06$0.61$1.78$1.43$0.35
2011Summary only. Only limited summary data is available for this year.$0.29$0.03$0.26$0.89$0.73$0.15