Salt Lake Board of Realtors

“Response to part vi, section a - governing body & management, items 6, 7a, 7b, 8a: 6) the organization has members who pay annual dues as a priviledge of membership 7a) the members elect the board of directors 7b) changes to the by-laws and the election of the board of directors are voted upon by the members. All other decisions are the responsibility of the board of directors. 8a) minutes of the meetings of hte board of directors are maintained by the administrative executive. Repsonse to part vi, section b - policies, items 12c, 15a & 15b: 12c) the executive committee of the board of directors meets on a monthly basis. This committee monitors the compliance of all board of directors and key employees and makes recommendations to the full board in the event of any noncompliance with the policies and code of ethics. 15a) the ceo is the only paid officer of the association. His compensation is determined by the executive committee of the board. 15b) all other key officers and board members are volunteers who serve without compensation, except for the president, who receives a monthly stipend of 1,600 response to part vi, section c - disclosure item 19: copies of governing documents, policy statements are made available to the public upon written request to the administrative executive at: salt lake board of realtors, 230 w. Towne ridge parkway, suite 200, sandy ut 84070”

“No review was or will be conducted.”

“No documents available to the public”

“Response to part i and part iii - organizations mission and most significant activities: taxpayer is a real estate board and as such does not have specific programs and services to which revenues and expenses are allocated. The revenue amount shown in part iii, line 4a represents membership dues and fees paid by members. The board administers and monitors the professional requiremetns of the state licensing agency and the national association of realtors on behalf of its members. These activities include: 1. Monitoring members conduct and compliance with professional standards and the board's code of ethics, 2. Education courses to enable members to meet their professional continuing education requirements, 3. Providing lock box security systems used by agents in connection with properties listed for sales, 4. Providing copies of forms, contracts and other supplies used by real estate agents, 5. Promoting the interest of individual property rights and home ownership these activities are funded primarily by membership dues and related fees, plus fees for services, in certain cases. As previously noted revenues and expenses are not subject to segrecation or allocation to the individual services and activities provided by the board.”

“NA”

“OTHER FEES 1,473,963 0 0”

“Response to part xi, reconciliation of net assets, item 9: taxpayer maintains its accounting records and financial reporting in accordance with generally accepted accounting principles (gaap), even though such records are audited by an independent accountant, hence, the income and expenses described below are included in its gaap financial statements but are not included in this form 990: not includable income includes increase in fmv of investments of -127,333 & undistributed earnings from wfrmls of 1,225,212 non deductible expenses includes expenses related to political activities in the amount of 186,466 response to part xi, reconciliation of net assets, item 9: taxpayer maintains its accounting records and financial reporting in accordance with gennerally accepted accounting principles (gaap), even though such records are audited by an independent accountant, hence, the income and expenses described below are included in its gaap financial statements but are not included in this form 990: not includable income includes increase/loss in fmv of investments of -667,045.54 & undistributed earnings from wfrmls of 649,990.39 non deductible expenses related to political activities in the amount of 212,953.67”