Civic Intelligence

Realtor University

990 • Fiscal year 2015 • EIN 45-2102449

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 10, 2016

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

46th percentile

0.08x

Higher debt load relative to assets than 46% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

34th percentile

0.04x

Higher debt load relative to revenue than 34% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

56th percentile

4.8%

Higher net margin than 56% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

100th percentile

$1,684,702

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 107.8% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

59th percentile

3.1%

Faster asset growth than 59% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

41st percentile

0.3%

Faster revenue growth than 41% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$894,404

Up $26,785 (+3.1%) from 2014

Net Assets

Up

$825,384

Up $74,875 (+10.0%) from 2014

Liabilities

Down

$69,020

Down $48,090 (-41%) from 2014

Revenue And Expenses
Liabilities / Revenue34th percentileNet Margin56th percentile

Revenue

Up

$1,562,174

Up $4,477 (+0.3%) from 2014

Expenses

Up

$1,487,299

Up $53,367 (+3.7%) from 2014

Net Income

Down

$74,875

Down $48,890 (-40%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth59th 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

2015

Assets$894,404
Liabilities$69,020
Net Assets$825,384
Open 2015 Filing

Operations Trend

Revenue Growth41st 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

2015

Revenue$1,562,174
Expenses$1,487,299
Net Income$74,875
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 10, 2016
Return Version
2015v2.1
Gross Receipts
$1,562,174
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$790,661$865,823▲ $75,162
Pledges and Grants Receivable$65,834$17,386▼ $48,448
Land, Buildings, and Equipment, Net$9,960$7,664▼ $2,296
Accounts Receivable$1,164$3,445▲ $2,281
Prepaid Expenses and Deferred Charges$0$86▲ $86
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities$0--
Investments Program Related$0--
Total Assets$867,619$894,404▲ $26,785
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$84,163$51,731▼ $32,432
Deferred Revenue$32,947$17,289▼ $15,658
Other Liabilities$0$0→ $0
Total Liabilities$117,110$69,020▼ $48,090
Net Assets / Fund Balance
Temporarily Rstr Net Assets$604,582$526,746▼ $77,836
Unrestricted Net Assets$145,927$298,638▲ $152,711
Total Net Assets Fund Balance$750,509$825,384▲ $74,875
Total Liabilities and Net Assets / Fund Balance$867,619$894,404▲ $26,785

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$61,350$61,350
Equipment$7,664$11,067$18,731
Compensation and Service Providers
Top Officer Pay100th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
-Director, AcademicsFT$200,095$105,988$306,083
-Director, ResearchFT$154,178$21,984$176,162

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$214,460
Revenue and Support

Revenue Composition

Contributions and Grants
$1,206,047
Program Service Revenue
$348,710
Investment Income
$0
Other Revenue
$7,417
All Other Contributions
$375,532
Change in Net Assets
$74,875

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,443,816
Revenue Not Reported on Financial Statements
$118,358
Revenue Not Reported on Form 990
$193,201
Other Revenue Adjustments
$118,358
Total Revenue per Audited Statements
$1,637,017
Total Revenue per Form 990
$1,562,174
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$801,383
Other Expenses$567,558
Grants and Similar Amounts Paid$118,358
Total Fundraising Expense$106,372
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$557,660-$80,804$638,464
Other Expenses$331,920--$331,920
Grants to Domestic Individuals$118,358--$118,358
Other Employee Benefits$46,324$14,000$8,700$69,024
Office Expenses$42,186$25,118$179$67,483
Advertising$63,354$1,673-$65,027
Payroll Taxes$34,314$10,200$6,400$50,914
Travel$19,905$26,301-$46,206
Pension Plan Contributions$29,081$8,500$5,400$42,981
Conferences and Meetings$29,680--$29,680
Fees for Services Other$18,801$0$0$18,801
Information Technology$572$572$4,889$6,033
Depreciation Depletion$2,294--$2,294
Insurance$114--$114
Total Functional Expenses$1,294,563$86,364$106,372$1,487,299

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,562,142
Total Expenses per Form 990$1,487,299
Expenses per Audited Statements$1,368,941
Expenses Not Reported on Form 990$193,201
Expenses Not Reported on Financial Statements$118,358
Other Expense Adjustments$118,358
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
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
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 2015 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 2016 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
2016-11-10
Discuss with paid preparer
Yes

Organization Details

Formed
2011
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
10
Employees
15
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 January 2015, the University entered into an agreement with Nihon University College of Economics ("NUCE") to conduct research related to the overseas real estate market and transactions. The intellectual property is jointly owned by both the University and NUCE. In August 2015, the University entered into an agreement with Genworth Mortgage Insurance Corporation ("Genworth") to conduct research related to upfront mortgage risk sharing. The intellectual property is jointly owned by the University and Genworth.”

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, 2015 and 2014. Due to its tax-exempt status, the University is not subject to U.S. federal or state income tax. 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 - 118358”

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

“Scholarships awarded netted with revenue - 118358”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt13MERLE WHITEHEAD
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt14MARC GOULD
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IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt16PETER BURLEY
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IRS990/Form990PartVIISectionAGrp/TitleTxt15CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR, RESEARCH
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR, ACADEMICS
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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/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Martin Edwards
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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. THE UNIVERSITY ENTERED INTO A COLLABORATIVE AGREEMENT TO CONDUCT RESEARCH PROJECTS WITH THE FOLLOWING ORGANIZATIONS: 1.) REALTORS PROPERTY RESOURCE ("RPR") ON A RESEARCH PROJECT (THE "RPR PROJECT") TO DEVELOP COMPREHENSIVE ANALYSIS AND INSIGHTS INTO BROKER LOCATION DECISION REPORT. 2.) NIHON COLLEGE OF ECONOMICS ("NUCE") TO CONDUCT RESEARCH RELATED TO THE OVERSEAS REAL ESTATE MARKET AND TRANSACTIONS. 3.) GENWORTH MORTGAGE INSURANCE COPORATION ("GENWORTH") TO CONDUCT RESEARCH RELATED TO UPFRONT MORTGAGE RISK SHARING.
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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$894,404
Liabilities
$69,020
Net assets
$825,384
Revenue
$1,562,174
Expenses
$1,487,299
Net income
$74,875
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