Civic Intelligence

Arizona Association of Realtors

EIN 86-0080497 • 501(c)6 • Phoenix, AZ

Profile

To serve its members by providing services that enhance members' abilities to conduct their businesses with integrity and competency, and to promote the extension and preservation of private property rights.

255 East Osborn Ste 200Phoenix, AZ 85012

www.aaronline.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

19th percentile

0.08x

Higher debt load relative to assets than 19% of similar nonprofits.

501(c)6 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

34th percentile

0.32x

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

501(c)6 • $25M-$50M nonprofits • Source year 2024

Net Margin

80th percentile

24%

Higher net margin than 80% of similar nonprofits.

501(c)6 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$469,753

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 3.9% of source-year revenue.

501(c)6 • $25M-$50M nonprofits • Source year 2024

Asset Growth

45th percentile

6.2%

Faster asset growth than 45% of similar nonprofits.

501(c)6 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

27th percentile

1.4%

Faster revenue growth than 27% of similar nonprofits.

501(c)6 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$49,999,559

Up $7,424,638 (+17%) from 2022

Liabilities

Down

$3,802,212

Down $418,050 (-9.9%) from 2022

Net Assets

Up

$46,197,347

Up $7,842,688 (+20%) from 2022

Revenue

Up

$11,974,639

Up $1,066,874 (+9.8%) from 2022

Expenses

Up

$9,076,266

Up $1,595,953 (+21%) from 2022

Net Income

Down

$2,898,373

Down $529,079 (-15%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2015: $24,552,229Liabilities 2015: $2,526,775Net Assets 2015: $22,025,4542015Assets 2018: $24,731,818Liabilities 2018: $3,593,222Net Assets 2018: $21,138,5962018Assets 2019: $31,123,316Liabilities 2019: $4,423,019Net Assets 2019: $26,700,2972019Assets 2020: $36,963,945Liabilities 2020: $5,208,789Net Assets 2020: $31,755,1562020Assets 2021: $41,549,602Liabilities 2021: $5,081,678Net Assets 2021: $36,467,9242021Assets 2022: $42,574,921Liabilities 2022: $4,220,262Net Assets 2022: $38,354,6592022Assets 2024: $49,999,559Liabilities 2024: $3,802,212Net Assets 2024: $46,197,3472024

Highlighted filing

2024

Assets$49,999,559
Liabilities$3,802,212
Net Assets$46,197,347

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2015: $7,618,998Expenses 2015: $5,863,382Net Income 2015: $1,755,6162015Revenue 2018: $10,715,102Expenses 2018: $13,870,343Net Income 2018: -$3,155,2412018Revenue 2019: $11,949,795Expenses 2019: $7,195,994Net Income 2019: $4,753,8012019Revenue 2020: $10,943,756Expenses 2020: $6,565,192Net Income 2020: $4,378,5642020Revenue 2021: $11,298,614Expenses 2021: $6,889,499Net Income 2021: $4,409,1152021Revenue 2022: $10,907,765Expenses 2022: $7,480,313Net Income 2022: $3,427,4522022Revenue 2024: $11,974,639Expenses 2024: $9,076,266Net Income 2024: $2,898,3732024

Highlighted filing

2024

Revenue$11,974,639
Expenses$9,076,266
Net Income$2,898,373

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 1, 2025
Return Version
2024v5.0
Gross Receipts
$12,081,393
Mission and Program Overview

Mission

To serve its members by providing services that enhance members' abilities to conduct their businesses with integrity and competency, and to promote the extension and preservation of private property rights.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$24,040,755$25,584,770▲ $1,544,015
Savings and Temporary Cash Investments$20,060,649$20,996,141▲ $935,492
Land, Buildings, and Equipment, Net$2,456,077$2,599,893▲ $143,816
Cash and Non-Interest-Bearing Accounts$355,929$741,141▲ $385,212
Prepaid Expenses and Deferred Charges$141,592$73,988▼ $67,604
Accounts Receivable$7,436$3,626▼ $3,810
Total Assets$47,062,438$49,999,559▲ $2,937,121
Liabilities
Deferred Revenue$4,197,329$3,623,165▼ $574,164
Accounts Payable and Accrued Expenses$102,441$81,744▼ $20,697
Mortgage Notes Payable Secured by Investment Property$84,793$50,494▼ $34,299
Other Liabilities$44,947$46,809▲ $1,862
Total Liabilities$4,429,510$3,802,212▼ $627,298
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$41,720,734$45,273,015▲ $3,552,281
Net Assets With Donor Restrictions$912,194$924,332▲ $12,138
Total Net Assets Fund Balance$42,632,928$46,197,347▲ $3,564,419
Total Liabilities and Net Assets / Fund Balance$47,062,438$49,999,559▲ $2,937,121

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,080,498$1,487,284$2,567,782
Buildings$694,904$1,300,250$1,995,154
Other Land Buildings$206,754$689,800$896,554
Land$617,737-$617,737
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Scott DruckerCEOFT$433,148$36,605$469,753
Aaron GreenGeneral CounFT$192,866$8,504$201,370
Aaron GreenGeneral Counsel-$192,866$8,504$201,370
Barbara FreestoneSr VP Bus DeFT$168,153$22,023$190,176
Barbara FreestoneSr VP Bus Develop-$168,153$22,023$190,176
Kristen PageCFOFT$172,624$15,224$187,848
Christina SmallsCOOFT$157,214$21,279$178,493
Janet StewardSr Director RiskFT$106,451$16,629$123,080

Board Members and Trustees

NameTitle
Shelley OstrowskiPresident
Sindy ReadyPresident El
Aaron BilsDirector
Alec-lauren BurtonDirector
Allison CahillDirector
Amber CheramyDirector
Andrew GlennDirector
Barry KramerDirector
Becca LinnigDirector
Bill ArnoldDirector
Brandi AdamsDirector
Butch LeiberDirector
Cara McguireDirector
Carissa MaxwellDirector
Catherine SwannDirector
Catherine WolfsonDirector
Charles TupperDirector
Cheryl TerpeningDirector
Chey TorDirector
Chris NaceDirector
Christine BayerDirector
Christine EllisDirector
Christy WalkerDirector
Clark JonesDirector
Craig PeckDirector
Craig SanfordDirector
Crystal FletcherDirector
Cynthia EastwoodDirector
Deborah RoseDirector
Donna CollinsDirector
Duane FoutsDirector
Fred ClemanDirector
James Gordon KellanderDirector
James RobertsonDirector
Jan Marie EnnengaDirector
Jay EckhardtDirector
Jeanelle ShearerDirector
Jeff DialDirector
Jeff MurrayDirector
Jeffrey DanielsDirector
Jessica GarardDirector
Jessica NobleDirector
Jim DunningDirector
John TheisDirector
Joyce BrimmerDirector
Kathy SanfordDirector
Kayla StazenskiDirector
Kc CygaDirector
Kelly SorianoDirector
Keri MeansDirector
Kerri BeaufeauxDirector
Larry DignanDirector
Laurie BeischelDirector
Ld HawkinsDirector
Lisa NuttDirector
Lisa SuarezDirector
Liz HarrisDirector
M Faye HumphreyDirector
Marcela FuentesDirector
Marge LindsayDirector
Marleny GomezDirector
Martha Kimsey FullerDirector
Mary LombardoDirector
Mary RobertsDirector
Matias RosalesDirector
Meaghann ValenciaDirector
Melinda EslingerDirector
Michael HofstetterDirector
Michael MorrisDirector
Michelle LintonDirector
Mike DobbinsDirector
Mike PorterDirector
Nickole SparaciaDirector
Pam RuggeroliDirector
Paul BakerDirector
Peggy NeelyDirector
Polly BlackwellDirector
Rebecca GrossmanDirector
Rich La RueDirector
Riley CilleyDirector
Ronald CopusDirector
Russell ScheetzDirector
Sam MillerDirector
Samara GlassmanDirector
Sandra LunsfordDirector
Sandy KarpenDirector
Shari WardDirector
Shauna HuismanDirector
Sherry SentgeorgeDirector
Sheryl BowdenDirector
Stacey KrolakDirector
Steven BaumanDirector
Steven SilvaDirector
Sue FluckeDirector
Susan HerberDirector
Suzanne WestrumDirector
Tammy AndersonDirector
Teresa MeekDirector
Tiffany JonesDirector
Tracy DuncanDirector
Wednesday EnriquezDirector
Wyndie WhitneyDirector
Jettie McfaddenAreaa State
Trisha ReidAssociation
Brian TeskeCcim State P
Paul BruceCommun & Tec
Lisa PaffrathFirst VP
Eric GibbsImmed Past P
Ginny HuffmanLegis Affair
D Patrick LewisPast Preside
Gary NelsonPast Preside
Jan LeightonPast Preside
Serena JonesProf & Bus D
Gunner MitchellRegion 1 VP
M Teresa Rubio-acunaRegion 2 VP
Jesi OronaRegion 3 VP
Louis MccallRegion 4 VP
Susan DerleinRegion 5 VP
Phil SextonRisk Mgmt Ch
Barbara WilsonRrc State Pr
Shane CookTreasurer
Stephanie GrandeWcr State Pr

Highest Paid Contractors

ContractorServicesLocationCompensation
Weil Gotshal & Manges LLPLegalPO BOX 70280 LOCKBOX 9640, Philadelphia, PA 19176-0280$538,807
Lone Wolf TechnologiesInformation Tec717 HARWOOD ST STE 2200, Dallas, TX 75201$373,288
Zelms Erlich & Mack LLPMember Svcs5415 E HIGH ST STE 425, Phoenix, AZ 85054$299,045
Hma Public RelationsPub Relations4343 N SCOTTSDALE RD STE 150, Scottsdale, AZ 85251$245,850
Global Market InnovatorsMember Svcs13430 N BLACK CANYON HWY STE 250, Phoenix, AZ 85029-1356$241,907
Revenue and Support

Revenue Composition

Contributions and Grants
$9,704,496
Program Service Revenue
$418,410
Investment Income
$1,883,321
Other Revenue
$-31,588
All Other Contributions
$25,000
Change in Net Assets
$2,898,373

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,974,639
Revenue Not Reported on Form 990
$677,489
Total Revenue per Audited Statements
$12,652,128
Total Revenue per Form 990
$11,974,639
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,814,637
Salaries, Compensation, and Employee Benefits$3,261,629
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$1,801,095
All Other Expenses---$1,393,715
Current Officers, Directors, Trustees, and Key Employees---$931,139
Fees for Services Other---$849,851
Other Expenses---$386,468
Payroll Taxes---$186,266
Travel---$180,688
Other Employee Benefits---$172,284
Pension Plan Contributions---$170,845
Depreciation Depletion---$165,873
Conferences and Meetings---$76,885
Total Functional Expenses$0$0$0$9,076,266

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$9,087,709
Expenses per Audited Statements$9,076,266
Total Expenses per Form 990$9,076,266
Expenses Not Reported on Form 990$11,443
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
In-house lobbying only
No
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Current Year Nondeductible Lobbying and Political Cost$2,170,418
Total Nondeductible Lobbying and Political Cost$-5,645,632
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Board of DirectEducation ClassesNo$16,937
-Past Board MbrEducation ClassesNo$5,400
-Past Board MbrEducation ClassesNo$4,650
-Owner of EntityEducation ClassesNo$3,300
-Board of DirectEducation ClassesNo$2,400
-Owner of EntityEducation ClassesNo$1,921
-Owner of EntityEducation ClassesNo$1,875
-Owner of EntityEducation ClassesNo$450
-Owner of EntityEducation ClassesNo$375
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Current Liabilities$46,809
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 35% controlled entity
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
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 2

Craig sanford kathy sanford director director husband & wife

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

The association provides a copy of the form to the governing board which in turn delegates the review of form 990 to the treasurer. The treasurer communicates the results of the review to the governing board before issuance of form 990.

Form 990, Page 6, Part VI, Line 12C

The conflict of interest policy is written in the bylaws, policies, and official statements. Volunteer members are asked about any potential conflicts prior to serving.

Form 990, Page 6, Part VI, Line 15A

The process for determining the compensation of the ceo included a review and approval by the independent governing body.

Form 990, Page 6, Part VI, Line 15B

A compensation analysis was conducted through national association of realtors (nar) for all aar employees.

Form 990, Page 6, Part VI, Line 19

A copy of the governing documents is made available for public inspection on site. Advised during membership meetings these documents are available on site.

Filing and Contact Details

Filer

Filer Name
Arizona Association of Realtors
EIN
86-0080497
Phone
6022487787
Address
255 EAST OSBORN STE 200, PHOENIX, AZ 85012

Signing Officer

Name
Scott Drucker
Title
CEO
Phone
6022487787
Signed
2025-10-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Drucker
Formed
1953
Legal Domicile
Az
Voting Board Members
122
Independent Board Members
122
Employees
27
Volunteers
291

Preparer

Firm
Walker & Armstrong Llp
Address
1850 N CENTRAL AVE STE 400, PHOENIX, AZ 85004-4624
Preparer
Kimberly Ann Bolligar
Phone
6022301040
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Credit card & eft fees 212,264 0 0 promotion 163,115 0 0 speaker fees 161,782 0 0 dues & commitments 148,829 0 0 investment bank fees 95,311 0 0 im local board requests 94,400 0 0 repairs and maint 92,428 0 0 im committee expenditures 84,100 0 0 utilities 83,289 0 0 real estate taxes 51,785 0 0 supplies 35,310 0 0 awards/gifts 31,997 0 0 telephone 26,853 0 0 subscriptions and referen 23,383 0 0 staff development & expen 15,100 0 0 staff travel 15,054 0 0 computer service and expe 13,180 0 0 miscellaneous 12,283 0 0 equipment maintenance/ren 7,427 0 0 property insurance 6,159 0 0 payroll fees/expenditures 4,510 0 0 postage 3,841 0 0 management fees 3,646 0 0 workers compensation 2,151 0 0 printing 2,010 0 0 copying 1,848 0 0 pension plan fees 1,660 0 0 total 1,393,715 0 0

Form 990, Part XI, Line 9

Investment expenses -95,311 reclass rental expenses 106,754 reach ventures activity 6,830 investment expenses 95,311 reclass rental expenses -106,754 total 6,830

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Investment expenses -95,311 reclass rental expenses 106,754 reach ventures activity 6,830

Schedule D, Page 4, Part XII, Line 2D

Investment expenses -95,311 reclass rental expenses 106,754

Raw XML AppendixShowing 400 of 1,452 raw XML fields

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/OtherCompensationAmt222023
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt140

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