Civic Intelligence

Realtor University

990 • Fiscal year 2018 • EIN 45-2102449

Jan 01, 2018 to Dec 31, 2018 • Filed on Sep 05, 2019

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

60th percentile

0.16x

Higher debt load relative to assets than 60% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

48th percentile

0.09x

Higher debt load relative to revenue than 48% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

13th percentile

-21%

Higher net margin than 13% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

5th percentile

-24%

Faster asset growth than 5% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

9th percentile

-31%

Faster revenue growth than 9% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Flat

$875,463

Flat from 2018

Net Assets

Flat

$732,813

Flat from 2018

Liabilities

Flat

$142,650

Flat from 2018

Revenue

Flat

$1,659,246

Flat from 2018

Expenses

Flat

$2,010,337

Flat from 2018

Net Income

Flat

-$351,091

Flat from 2018

Historical Trend

Balance Sheet Trend

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 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

2018

Assets$875,463
Liabilities$142,650
Net Assets$732,813

Operations Trend

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 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

2018

Revenue$1,659,246
Expenses$2,010,337
Net Income-$351,091
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Sep 5, 2019
Return Version
2018v3.1
Gross Receipts
$1,659,246
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$959,991$767,799▼ $192,192
Savings and Temporary Cash Investments$100,032$100,194▲ $162
Pledges and Grants Receivable$80,266$0▼ $80,266
Accounts Receivable$2,186$4,526▲ $2,340
Land, Buildings, and Equipment, Net$3,960$2,844▼ $1,116
Prepaid Expenses and Deferred Charges$92$100▲ $8
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors-$0-
Total Assets$1,146,527$875,463▼ $271,064
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$62,623$142,650▲ $80,027
Other Liabilities$0$0→ $0
Total Liabilities$62,623$142,650▲ $80,027
Net Assets / Fund Balance
Unrestricted Net Assets$524,616$419,192▼ $105,424
Temporarily Rstr Net Assets$559,288$313,621▼ $245,667
Total Net Assets Fund Balance$1,083,904$732,813▼ $351,091
Total Liabilities and Net Assets / Fund Balance$1,146,527$875,463▼ $271,064

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$61,350$61,350
Equipment$2,844$15,887$18,731
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
-Chief Academic OfficerFT$208,281$79,274$287,555

Board Members and Trustees

NameTitle
-Chairperson
-President
-Director
-Chief Financial Officer
-Secretary and Dean, Student Services
-Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Zodiac GroupConsulting7625 WISCONSIN AVE 300, SUITE 2900, Bethesda, MD 20814$139,731
All CampusBack Office Operations500 W MADISON ST, Chicago, IL 60661$136,274
Revenue and Support

Revenue Composition

Contributions and Grants
$1,108,889
Program Service Revenue
$545,627
Investment Income
$0
Other Revenue
$4,730
All Other Contributions
$12,472
Change in Net Assets
$-351,091

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,483,357
Revenue Not Reported on Financial Statements
$175,889
Revenue Not Reported on Form 990
$204,042
Other Revenue Adjustments
$175,889
Total Revenue per Audited Statements
$1,687,399
Total Revenue per Form 990
$1,659,246
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$943,101
Salaries, Compensation, and Employee Benefits$891,347
Grants and Similar Amounts Paid$175,889
Total Fundraising Expense$162,288
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$661,549-$57,030$718,579
Other Expenses$234,568--$234,568
Fees for Services Other$125,707$0$82,393$208,100
Grants to Domestic Individuals$175,889--$175,889
Advertising$128,052$1,186-$129,238
Office Expenses$106,684$13,219-$119,903
Conferences and Meetings$105,732--$105,732
Travel$66,504$38,736-$105,240
Other Employee Benefits$55,105$15,700$7,900$78,705
Payroll Taxes$35,738$10,200$5,100$51,038
Pension Plan Contributions$30,125$8,600$4,300$43,025
Information Technology$33,389-$5,565$38,954
Depreciation Depletion$1,116--$1,116
Insurance$192--$192
All Other Expenses$58$0$0$58
Total Functional Expenses$1,760,408$87,641$162,288$2,010,337

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,038,490
Total Expenses per Form 990$2,010,337
Expenses per Audited Statements$1,834,448
Expenses Not Reported on Form 990$204,042
Expenses Not Reported on Financial Statements$175,889
Other Expense Adjustments$175,889
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$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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

Compensation paid to the ceo and officers was set by the national association of realtors, a related tax-exempt entity. Therefore, these questions are more appropriately answered as "n/a"

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 the National Association of Realtors (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 8B Documentation of meetings held by committees of governing body

There were no committees with authority to act on behalf of the governing body.

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

The Form 990 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 2019 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
John Pierpoint
Title
Chief Financial Officer
Signed
2019-09-05
Discuss with paid preparer
Yes

Organization Details

Formed
2011
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
9
Employees
18
Volunteers
50

Preparer

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

Additional Explanations

Form 990, Part IX, Line 11G Other Fees

Consulting - Total Expense: 208100, Program Service Expense: 125707, Management and General Expenses: , Fundraising Expenses: 82393;

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, 2018 and 2017. 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 - 175889

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

Scholarships awarded netted with revenue - 175889

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIRPERSON
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt13SECRETARY AND DEAN, STUDENT SERVICES
IRS990/Form990PartVIISectionAGrp/TitleTxt14CHIEF ACADEMIC OFFICER
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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/OtherExpensesGrp/Desc0Course development & edu research
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IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Bob Goldberg
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IRS990/ProgramServiceRevenueGrp/Desc3Leadership Academy Services
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IRS990/ProgSrvcAccomActy2Grp/Desc0REALTOR UNIVERSITY's LEADERSHIP INSTITUTE WAS TASKED WITH THE development and management of National Association of REALTORS (NAR)'s Leadership Academy. The Leadership Institute is a non-accredited branch of REALTOR University offering guidance and insight to the development of leadership skills and abilities to the emerging leaders from the local and state level for the National Association of REALTORS.
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IRS990/ProgSrvcAccomActy3Grp/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.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The 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, 2018 and 2017. 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.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1SCHOLARSHIPS AWARDED NETTED WITH REVENUE - 175889
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2SCHOLARSHIPS AWARDED NETTED WITH REVENUE - 175889
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements

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