Civic Intelligence

Hernando County Association Of

990 • Fiscal year 2023 • EIN 59-1636162

Jan 01, 2023 to Dec 31, 2023 • Filed on May 14, 2024

7321 Sunshine Grove RoadBrooksville, FL 34613

(352) 799-1971

Siviq Scores

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

Liabilities / Assets

69th percentile

0.30x

Higher debt load relative to assets than 69% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

94th percentile

1.00x

Higher debt load relative to revenue than 94% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Net Margin

77th percentile

15%

Higher net margin than 77% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

27th percentile

$0

Higher top officer pay than 27% of similar nonprofits.

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

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Asset Growth

76th percentile

17%

Faster asset growth than 76% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

14th percentile

-9.3%

Faster revenue growth than 14% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$2,884,476

Up $426,972 (+17%) from 2022

Net Assets

Up

$2,029,309

Up $129,102 (+6.8%) from 2022

Liabilities

Up

$855,167

Up $297,870 (+53%) from 2022

Revenue

Down

$854,046

Down $87,614 (-9.3%) from 2022

Expenses

Up

$723,944

Up $42,771 (+6.3%) from 2022

Net Income

Down

$130,102

Down $130,385 (-50%) from 2022

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2016: $1,394,181Liabilities 2016: $737,701Net Assets 2016: $656,4802016Assets 2017: $1,426,716Liabilities 2017: $692,825Net Assets 2017: $733,8912017Assets 2018: $1,487,073Liabilities 2018: $649,303Net Assets 2018: $837,7702018Assets 2019: $1,485,769Liabilities 2019: $319,483Net Assets 2019: $1,166,2862019Assets 2020: $1,655,872Liabilities 2020: $310,989Net Assets 2020: $1,344,8832020Assets 2021: $2,179,689Liabilities 2021: $538,969Net Assets 2021: $1,640,7202021Assets 2022: $2,457,504Liabilities 2022: $557,297Net Assets 2022: $1,900,2072022Assets 2023: $2,884,476Liabilities 2023: $855,167Net Assets 2023: $2,029,3092023Assets 2024: $2,939,795Liabilities 2024: $920,633Net Assets 2024: $2,019,1622024

Highlighted filing

2023

Assets$2,884,476
Liabilities$855,167
Net Assets$2,029,309

Operations Trend

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

$1.0M$500K$0Revenue 2016: $737,484Expenses 2016: $643,408Net Income 2016: $94,0762016Revenue 2017: $716,987Expenses 2017: $639,575Net Income 2017: $77,4122017Revenue 2018: $752,203Expenses 2018: $648,325Net Income 2018: $103,8782018Revenue 2019: $871,319Expenses 2019: $542,803Net Income 2019: $328,5162019Revenue 2020: $771,898Expenses 2020: $591,801Net Income 2020: $180,0972020Revenue 2021: $902,514Expenses 2021: $606,333Net Income 2021: $296,1812021Revenue 2022: $941,660Expenses 2022: $681,173Net Income 2022: $260,4872022Revenue 2023: $854,046Expenses 2023: $723,944Net Income 2023: $130,1022023Revenue 2024: $809,246Expenses 2024: $763,475Net Income 2024: $45,7712024

Highlighted filing

2023

Revenue$854,046
Expenses$723,944
Net Income$130,102
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 14, 2024
Return Version
2023v5.0
Gross Receipts
$894,364
Mission and Program Overview

Mission

Exists to promote and maintain the code of ethics, to provide multiple listing services, to provide educational and technological instruction and to provide leadership opportunities, in order to recognize our membership's common goals of increased professionalism and profitability

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,308,018$1,356,011▲ $47,993
Savings and Temporary Cash Investments$614,429$962,261▲ $347,832
Land, Buildings, and Equipment, Net$447,156$473,519▲ $26,363
Accounts Receivable$46,111$50,895▲ $4,784
Prepaid Expenses and Deferred Charges$41,790$41,790→ $0
Total Assets$2,457,504$2,884,476▲ $426,972
Liabilities
Other Liabilities$557,297$855,167▲ $297,870
Total Liabilities$557,297$855,167▲ $297,870
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,900,207$2,029,309▲ $129,102
Total Net Assets Fund Balance$1,900,207$2,029,309▲ $129,102
Total Liabilities and Net Assets / Fund Balance$2,457,504$2,884,476▲ $426,972

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$59,958$416,991$476,949
Buildings$298,198$127,280$425,478
Other Land Buildings$59,839$26,677$86,516
Land$55,524-$55,524
Equipment-$53,328$53,328
Compensation and Service Providers

Board Members and Trustees

NameTitle
Christina BottoPresident
Steve Van GordenPresident -
Diane FisherDirector
Jim TracyDirector
Kerry MclaughlinDirector
Melinda GrimesDirector
Silvia DukesDirector
Madelyn HermetetDirector of
Brenda S RabbittCEO
Sean BradleyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$283,119
Program Service Revenue
$509,270
Investment Income
$17,372
Other Revenue
$44,285
Change in Net Assets
$130,102
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$369,111
Salaries, Compensation, and Employee Benefits$354,833
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$323,414
All Other Expenses---$33,635
Conferences and Meetings---$31,626
Office Expenses---$26,713
Fees for Services Legal---$26,400
Payroll Taxes---$25,042
Fees for Services Other---$19,169
Occupancy---$12,409
Other Expenses---$12,049
Fees for Services Accounting---$10,160
Advertising---$8,742
Information Technology---$7,489
Insurance---$7,328
Depreciation Depletion---$7,237
Other Employee Benefits---$6,377
Total Functional Expenses$0$0$0$723,944
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
Yes
In-house lobbying only
No
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$1,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Nar Payable$333,543
Fr Payable$251,431
Prepaid Dues/fees$229,500
Rpac Payable$20,543
Disaster Relief Fund$9,133
Refundable Deposits$7,153
Sales Tax Payable$1,398
Payroll Liabilities$1,224
Rpac Investor Auction$969
Public Relations Events$273
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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 6

The organization is a membership organization.

Form 990, Page 6, Part VI, Line 7A

The membership elects the officers and directors.

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

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 19

No documents are available to the public

Filing and Contact Details

Filer

Filer Name
Hernando County Association of
EIN
59-1636162
Phone
3527991971
Address
7321 SUNSHINE GROVE ROAD, BROOKSVILLE, FL 34613

Signing Officer

Name
Brenda S Rabbitt
Title
CEO
Phone
3527991971
Signed
2024-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brenda S Rabbitt
Formed
1975
Legal Domicile
Fl
Voting Board Members
150
Independent Board Members
150
Employees
8

Preparer

Firm
Campbell & Company Cpas Pa
Address
7211 HIAWATHA PKWY, SPRING HILL, FL 34606-2542
Preparer
James M Wilhelm
Phone
3526837365
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Exists to promote and maintain the code of ethics, to provide multiple listing services, to provide educational and technological instruction and to provide leadership opportunities, in order to recognize our membership's common goals of increased professionalism and profitability

Form 990, Page 2, Part III, Line 4D

The hernando county association of realtors provides a facility for professional development, research, and the exchange of information among members. Continuing education, business development, and social networking meetings were organized to promote the highest standards of ethics and professionalism, and to foster business growth opportunities.

Form 990, Part XI, Line 9

Political donation -1,000

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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/ProgSrvcAccomActyOtherGrp/Desc0THE HERNANDO COUNTY ASSOCIATION OF REALTORS PROVIDES A FACILITY FOR PROFESSIONAL DEVELOPMENT, RESEARCH, AND THE EXCHANGE OF INFORMATION AMONG MEMBERS. CONTINUING EDUCATION, BUSINESS DEVELOPMENT, AND SOCIAL NETWORKING MEETINGS WERE ORGANIZED TO PROMOTE THE HIGHEST STANDARDS OF ETHICS AND PROFESSIONALISM, AND TO FOSTER BUSINESS GROWTH OPPORTUNITIES.
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IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0CONTRIBUTION TO THE REALTORS POLITICAL ACTION COMMITTEE
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt1THE HERNANDO COUNTY ASSOCIATION OF REALTORS ADVOCATES POLICIES ON BEHALF OF ITS MEMBERS AND PROVIDES FINANCIAL SUPPORT TO CANDIDATES RUNNING FOR LOCAL OFFICE WHOSE POSITION ON REAL ESTATE REGULATION AND A FREE-MARKET BUSINESS ENVIRONMENT MOST CLOSELY REPRESENTS ASSOCIATION INITIATIVES.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE C, PART I-A, LINE 1
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE C, PART IV
IRS990ScheduleD/BuildingsGrp/BookValueAmt0298198
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0127280
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0425478
IRS990ScheduleD/EquipmentGrp/DepreciationAmt053328
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt053328
IRS990ScheduleD/LandGrp/BookValueAmt055524
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt055524
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt059958
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0416991
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0476949
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt059839
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt026677
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt086516
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0333543
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1251431
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2229500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt320543
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt49133
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt57153
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt61398
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt71224
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt8969
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt9273
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NAR PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1FR PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2PREPAID DUES/FEES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3RPAC PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4DISASTER RELIEF FUND
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5REFUNDABLE DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc6SALES TAX PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc7PAYROLL LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc8RPAC INVESTOR AUCTION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc9PUBLIC RELATIONS EVENTS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0473519
IRS990ScheduleD/TotalLiabilityAmt0855167
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXISTS TO PROMOTE AND MAINTAIN THE CODE OF ETHICS, TO PROVIDE MULTIPLE LISTING SERVICES, TO PROVIDE EDUCATIONAL AND TECHNOLOGICAL INSTRUCTION AND TO PROVIDE LEADERSHIP OPPORTUNITIES, IN ORDER TO RECOGNIZE OUR MEMBERSHIP'S COMMON GOALS OF INCREASED PROFESSIONALISM AND PROFITABILITY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE HERNANDO COUNTY ASSOCIATION OF REALTORS PROVIDES A FACILITY FOR PROFESSIONAL DEVELOPMENT, RESEARCH, AND THE EXCHANGE OF INFORMATION AMONG MEMBERS. CONTINUING EDUCATION, BUSINESS DEVELOPMENT, AND SOCIAL NETWORKING MEETINGS WERE ORGANIZED TO PROMOTE THE HIGHEST STANDARDS OF ETHICS AND PROFESSIONALISM, AND TO FOSTER BUSINESS GROWTH OPPORTUNITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION IS A MEMBERSHIP ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE MEMBERSHIP ELECTS THE OFFICERS AND DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO DOCUMENTS ARE AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6POLITICAL DONATION -1,000
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02457504
IRS990/TotalAssetsEOYAmt02884476
IRS990/TotalAssetsGrp/BOYAmt02457504
IRS990/TotalAssetsGrp/EOYAmt02884476
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0283119
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0723944
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0557297
IRS990/TotalLiabilitiesEOYAmt0855167
IRS990/TotalLiabilitiesGrp/BOYAmt0557297
IRS990/TotalLiabilitiesGrp/EOYAmt0855167
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01900207
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02029309
IRS990/TotalProgramServiceExpensesAmt0723944
IRS990/TotalProgramServiceRevenueAmt0509270
IRS990/TotalRevenueGrp/ExclusionAmt061657
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0509270
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0854046
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02457504
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02884476
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07321 SUNSHINE GROVE ROAD
IRS990/USAddress/CityNm0BROOKSVILLE
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd034613
IRS990/VotingMembersGoverningBodyCnt0150
IRS990/VotingMembersIndependentCnt0150
IRS990/WebsiteAddressTxt0HTTP://WWW.HERNANDOREALTORS.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRENDA S RABBITT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03527991971
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HERNANDO COUNTY ASSOCIATION OF
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0REALTORS INC
ReturnHeader/Filer/BusinessNameControlTxt0HERN
ReturnHeader/Filer/EIN0591636162
ReturnHeader/Filer/PhoneNum03527991971
ReturnHeader/Filer/USAddress/AddressLine1Txt07321 SUNSHINE GROVE ROAD
ReturnHeader/Filer/USAddress/CityNm0BROOKSVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd034613
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0593227066
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CAMPBELL & COMPANY CPAS PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07211 HIAWATHA PKWY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SPRING HILL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0346062542
ReturnHeader/PreparerPersonGrp/PhoneNum03526837365
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES M WILHELM
ReturnHeader/ReturnTs02024-05-14T17:13:10-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BRENDA S
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0RABBITT
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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