Civic Intelligence

Memphis Board of Realtors Education Foundation Inc.

990 • Fiscal year 2019 • EIN 58-1660681

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 02, 2020

6393 Poplar AvenueMemphis, TN 38119

(901) 685-2100

Siviq Scores

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

Liabilities / Assets

48th percentile

0.02x

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

63rd percentile

0.08x

Higher debt load relative to revenue than 63% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

83rd percentile

30%

Higher net margin than 83% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

74th percentile

17%

Faster asset growth than 74% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

43rd percentile

1.0%

Faster revenue growth than 43% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Assets

Up

$756,835

Up $111,985 (+17%) from 2018

Net Assets

Up

$738,915

Up $120,166 (+19%) from 2018

Liabilities

Down

$17,920

Down $8,181 (-31%) from 2018

Revenue

Up

$236,976

Up $2,366 (+1.0%) from 2018

Expenses

Down

$166,938

Down $12,914 (-7.2%) from 2018

Net Income

Up

$70,038

Up $15,280 (+28%) 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 2010: $597,384Liabilities 2010: $6,879Net Assets 2010: $590,5052010Assets 2011: $557,558Liabilities 2011: $55,221Net Assets 2011: $502,3372011Assets 2012: $529,181Liabilities 2012: $15,970Net Assets 2012: $513,2112012Assets 2013: $576,795Liabilities 2013: $24,610Net Assets 2013: $552,1852013Assets 2014: $528,307Liabilities 2014: $20,888Net Assets 2014: $507,4192014Assets 2015: $512,443Liabilities 2015: $7,940Net Assets 2015: $504,5032015Assets 2016: $554,385Liabilities 2016: $10,858Net Assets 2016: $543,5272016Assets 2017: $662,659Liabilities 2017: $27,340Net Assets 2017: $635,3192017Assets 2018: $644,850Liabilities 2018: $26,101Net Assets 2018: $618,7492018Assets 2019: $756,835Liabilities 2019: $17,920Net Assets 2019: $738,9152019Assets 2020: $878,342Liabilities 2020: $16,895Net Assets 2020: $861,4472020Assets 2021: $1,043,981Liabilities 2021: $21,812Net Assets 2021: $1,022,1692021Assets 2022: $930,668Liabilities 2022: $25,867Net Assets 2022: $904,8012022Assets 2023: $1,057,786Liabilities 2023: $18,035Net Assets 2023: $1,039,7512023Assets 2024: $1,126,199Liabilities 2024: $8,087Net Assets 2024: $1,118,1122024

Highlighted filing

2019

Assets$756,835
Liabilities$17,920
Net Assets$738,915

Operations Trend

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

$400K$300K$200K$100K$0-$100KExpenses 2010: $208,4232010Expenses 2011: $200,2872011Expenses 2012: $163,5522012Revenue 2013: $141,044Expenses 2013: $148,944Net Income 2013: -$7,9002013Revenue 2014: $146,334Expenses 2014: $144,025Net Income 2014: $2,3092014Revenue 2015: $163,110Expenses 2015: $139,483Net Income 2015: $23,6272015Revenue 2016: $145,585Expenses 2016: $122,315Net Income 2016: $23,2702016Revenue 2017: $225,288Expenses 2017: $163,546Net Income 2017: $61,7422017Revenue 2018: $234,610Expenses 2018: $179,852Net Income 2018: $54,7582018Revenue 2019: $236,976Expenses 2019: $166,938Net Income 2019: $70,0382019Revenue 2020: $124,329Expenses 2020: $99,518Net Income 2020: $24,8112020Revenue 2021: $302,875Expenses 2021: $141,654Net Income 2021: $161,2212021Revenue 2022: $274,288Expenses 2022: $198,168Net Income 2022: $76,1202022Revenue 2023: $211,366Expenses 2023: $205,072Net Income 2023: $6,2942023Revenue 2024: $216,107Expenses 2024: $192,766Net Income 2024: $23,3412024

Highlighted filing

2019

Revenue$236,976
Expenses$166,938
Net Income$70,038
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 2, 2020
Return Version
2019v5.0
Gross Receipts
$511,773
Mission and Program Overview

Mission

To encourage and promote research, studies, and courses in the field of real estate and related areas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$441,313$517,393▲ $76,080
Savings and Temporary Cash Investments$184,584$218,057▲ $33,473
Prepaid Expenses and Deferred Charges$14,650$20,745▲ $6,095
Pledges and Grants Receivable$4,303$640▼ $3,663
Total Assets$644,850$756,835▲ $111,985
Liabilities
Other Liabilities$23,567$16,937▼ $6,630
Accounts Payable and Accrued Expenses$2,534$983▼ $1,551
Total Liabilities$26,101$17,920▼ $8,181
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$618,749$738,915▲ $120,166
Total Net Assets Fund Balance$618,749$738,915▲ $120,166
Total Liabilities and Net Assets / Fund Balance$644,850$756,835▲ $111,985

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$8,627--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$210,121
Investment Income
$26,855
Other Revenue
$0
Change in Net Assets
$70,038

Audited Revenue Reconciliation

Revenue per Audited Statements
$234,982
Revenue Not Reported on Financial Statements
$1,994
Revenue Not Reported on Form 990
$94,528
Total Revenue per Audited Statements
$329,510
Total Revenue per Form 990
$236,976
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$157,518
Grants and Similar Amounts Paid$9,420
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$44,551$7,793-$52,344
Other Expenses$13,729--$13,729
Grants to Domestic Individuals$9,420--$9,420
Fees for Services Accounting-$5,000-$5,000
Fees for Service Investment Mgmnt Fees$1,994--$1,994
Conferences and Meetings-$630-$630
Total Functional Expenses$153,515$13,423$0$166,938

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$209,344
Total Expenses per Form 990$166,938
Expenses per Audited Statements$164,944
Expenses Not Reported on Form 990$44,400
Expenses Not Reported on Financial Statements$1,994
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Revenue$12,403
Due to Related Party$4,534
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The return is prepared by an outside accounting firm. After their preparation, a managing officer of the organization reviews the return. After the officer's approval, the return is signed and filed.

Form 990, Page 6, Part VI, Line 19

Governing documents are available for public inspection upon written request made to the organization's office. After review of the request, the governing documents will be provided at the discretion of management.

Filing and Contact Details

Filer

Filer Name
Memphis Area Association of
EIN
58-1660681
Phone
9016852100
Address
6393 POPLAR AVENUE, MEMPHIS, TN 38119

Signing Officer

Name
Katie Shotts
Title
Executive Vice Presi
Phone
9018182428
Signed
2020-06-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katie Shotts
Formed
1985
Legal Domicile
Tn
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
39

Preparer

Firm
Scott & Pohlman Pc
Address
5100 POPLAR AVENUE SUITE 617, MEMPHIS, TN 38137-0601
Preparer
Alisa S Farmer
Phone
9017614692
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Srs courses 11,471 0 0 sres courses 9,000 0 0 crs courses 7,500 0 0 bank credit card fees 0 7,041 0 gri courses 6,075 0 0 abr courses 3,215 0 0 rene courses 3,140 0 0 psa courses 2,460 0 0 ahwd courses 1,690 0 0 administrative fee 0 534 0 miscellaneous 0 218 0 total 44,551 7,793 0

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.13$0.01$1.12$0.22$0.19$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.06$0.02$1.04$0.21$0.21$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.93$0.03$0.90$0.27$0.20$0.08
2021Detailed filing. Detailed filing data is available for this year.$1.04$0.02$1.02$0.30$0.14$0.16
2020Detailed filing. Detailed filing data is available for this year.$0.88$0.02$0.86$0.12$0.10$0.02
2019Detailed filing. Detailed filing data is available for this year.$0.76$0.02$0.74$0.24$0.17$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.64$0.03$0.62$0.23$0.18$0.05
2017Detailed filing. Detailed filing data is available for this year.$0.66$0.03$0.64$0.23$0.16$0.06
2016Detailed filing. Detailed filing data is available for this year.$0.55$0.01$0.54$0.15$0.12$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.51$0.01$0.50$0.16$0.14$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.53$0.02$0.51$0.15$0.14$0.00
2013Detailed filing. Detailed filing data is available for this year.$0.58$0.02$0.55$0.14$0.15$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.53$0.02$0.51$0.16
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.56$0.06$0.50$0.20
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.60$0.01$0.59$0.21