NATIONAL ASSOCIATION OF REAL ESTAT… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2010

Legal Domicile

Principal Officer

STEVEN WECHSLER

Phone

2027399400

Tax Period

2024-01-01 to 2024-12-31

NATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT TRUSTS (NAREIT), founded in 2010, is a mid-sized nonprofit in the Community Improvement sector that reported $37.3M in total revenue in fiscal year 2024. Expenses of $33.6M left a modest 10% surplus.

Mission

THE NATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT TRUSTS (NAREIT) IS THE TRADE ASSOCIATION FOR REITS AND PUBLICLY TRADED REAL ESTATE COMPANIES WITH AN INTEREST IN THE U.S. NAREIT'S PURPOSE IS TO FURTHER THE INTERESTS OF ITS MEMBERS WHICH INCLUDE REITS AND OTHER BUSINESSES THAT OWN, OPERATE, AND FINANCE INCOME-PRODUCING REAL ESTATE.

Program Service Accomplishments

Program 1

GOVERNMENT RELATIONS ARE INTEGRAL TO KEEPING MEMBERS AND THE PUBLIC INFORMED OF THE LEGISLATIVE ENVIRONMENT SURROUNDING REITS AND THE REAL ESTATE INDUSTRY AS A WHOLE.

Program 2

COMMUNICATIONS AND PUBLICATIONS ARE PRODUCED AND DISSEMINATED TO KEEP MEMBERSHIP, AND THE PUBLIC AT LARGE, INFORMED OF CURRENT INDUSTRY ISSUES. PUBLICATIONS INCLUDE INDUSTRY EDUCATIONAL MATERIALS...

COMMUNICATIONS AND PUBLICATIONS ARE PRODUCED AND DISSEMINATED TO KEEP MEMBERSHIP, AND THE PUBLIC AT LARGE, INFORMED OF CURRENT INDUSTRY ISSUES. PUBLICATIONS INCLUDE INDUSTRY EDUCATIONAL MATERIALS, AND RESULTS OF INDUSTRY AND EDUCATIONAL RESEARCH.

Program 3

CONFERENCES AND SEMINARS BRING MEMBERS AND EXPERTS IN THE BUSINESS OF REAL ESTATE INVESTMENT TRUSTS TOGETHER TO CONFER, CONSULT, AND COOPERATE TO ADDRESS INDUSTRY ISSUES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $26,655,091

Investment Income $1,412,447

Other Revenue $9,234,681

TOTAL REVENUE $37,302,219

Expense Breakdown

Grants Paid $130,000

Salaries & Benefits $18,804,190

Fundraising Expenses $0

Other Expenses $14,617,510

TOTAL EXPENSES $33,551,700

Year-over-Year Comparison

	2024	2023	Change
Revenue	$37,302,219	$35,406,722	+0.1%
Expenses	$33,551,700	$33,655,015	0.0%
Net Income	$3,750,519	$1,751,707	+1.1%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✓ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$4,290,848

Total Directors

Key Employees

$2,837,258

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
W MATTHEW KELLY	CHAIR	1.00	Officer Director	$0	$0	$0
CONOR C FLYNN	FIRST VICE CHAIR	1.00	Officer Director	$0	$0	$0
SUMIT ROY	SECOND VICE CHAIR	1.00	Officer Director	$0	$0	$0
MARK J PARRELL	TREASURER	1.00	Officer Director	$0	$0	$0
PETER E BACCILE	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
THOMAS A BARTLETT	EXECUTIVE BOARD MEMBER (THRU 2/1/24)	1.00	Director	$0	$0	$0
H ERIC BOLTON JR	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
SCOTT M BRINKER	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
TAMARA D FISCHER	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
LESLIE D HALE	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
THEODORE J KLINCK	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
MARGUERITE M NADER	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
LISA PALMER	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
EDWARD B PITONIAK	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
JOSEPH D RUSSELL JR	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
BENJAMIN W SCHALL	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES M TAYLOR JR	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
CONOR C FLYNN	CHAIR	1.00	Officer Director	$0	$0	$0
SUMIT ROY	FIRST VICE CHAIR	1.00	Officer Director	$0	$0	$0
MARK J PARRELL	SECOND VICE CHAIR	1.00	Officer Director	$0	$0	$0
LESLIE D HALE	TREASURER	1.00	Officer Director	$0	$0	$0
PETER E BACCILE	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
H ERIC BOLTON JR	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
SCOTT M BRINKER	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
W MATTHEW KELLY	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
THEODORE J KLINCK	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
MARSHALL A LOEB	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
LISA PALMER	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
EDWARD B PITONIAK	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
ANDREW P POWER	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
JOSEPH D RUSSELL JR	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
BENJAMIN W SCHALL	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES M TAYLOR JR	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
STEVEN VONDRAN	EXECUTIVE BOARD MEMBER	1.00	Director	$0	$0	$0
STEVEN WECHSLER	PRESIDENT & CEO	40.00	Officer	$2,806,329	$68,663	$2,874,992
CATHERINE BARRE	EVP, POLICY & PUBLIC AFFAIRS & GC	39.00	Officer	$837,185	$83,466	$920,651
ROBERTO DIAZ	EVP, FINANCE & FISCAL MANAGEMENT	39.00	Officer	$429,866	$65,339	$495,205
TONY EDWARDS	SENIOR EXECUTIVE VP (THRU 3/31/24)	40.00	Key Emp	$1,037,191	$36,468	$1,073,659
JOHN WORTH	EVP, RESEARCH & INVESTOR OUTREACH	40.00	Key Emp	$654,166	$83,669	$737,835
MATTHEW BECHARD	EVP, COMMS. & INDUSTRY AFFAIRS	40.00	Key Emp	$464,003	$78,446	$542,449
VICTOR DRISTAS	EVP, OPERATIONS	40.00	Key Emp	$406,783	$76,532	$483,315
ROBERT DIBBLEE	SVP, GOVERNMENT RELATIONS	36.00	Highest	$583,137	$59,066	$642,203
JOHN JONES	SVP, GOVERNMENT RELATIONS	40.00	Highest	$516,037	$47,945	$563,982
VICTORIA ROSTOW	SVP, REG. AFFAIRS & DEPUTY GC	40.00	Highest	$509,996	$48,896	$558,892
KURT WALTEN	SVP, INVESTMENT AFFAIRS	40.00	Highest	$507,575	$70,614	$578,189
CHRISTOPHER DRULA	SVP, FINANCIAL STANDARDS	40.00	Highest	$498,193	$72,984	$571,177

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$37,302,219	$33,551,700	$47,548,466	$3,750,519
2023	$35,406,722	$33,655,015	$43,051,105	$1,751,707
2022	$33,272,382	$34,223,432	$40,371,097	$-951,050
2021	$29,098,912	$26,922,525	$37,201,891	$2,176,387
2020	$26,615,096	$26,763,272	$30,603,959	$-148,176

NATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT TRUSTS (NAREIT)