MICHIGAN ASSOCIATION OF REALTORS

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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

1946

Legal Domicile

Principal Officer

ROBERT M CAMPAU

Phone

5173728890

Tax Period

2024-01-01 to 2024-12-31

MICHIGAN ASSOCIATION OF REALTORS, founded in 1946, is a mid-sized nonprofit that reported $10.2M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $2.9M, a strong 28% operating margin.

Mission

THE MICHIGAN ASSOCIATION OF REALTORS EXISTS TO SERVE ITS MEMBERS BY ADVANCING THE INTERESTS OF REAL ESTATE PROFESSIONALS AND PROMOTING PRIVATE PROPERTY RIGHTS. IT IS THE RECOGNIZED PUBLIC POLICY AND LEGAL ADVOCATE FOR PRIVATE PROPERTY RIGHTS FOR THE REAL ESTATE INDUSTRY AND THE RECOGNIZED STATEWIDE RESOURCE CLEARINGHOUSE FOR PROFESSIONAL DEVELOPMENT, KNOWLEDGE EXCHANGE AND BUSINESS SERVICES.

Program Service Accomplishments

Program 1

MEMBER ADVOCACY - STATEWIDE ADVOCACY EFFORTS PROMOTED LEGISLATION AND PUBLIC POLICY INITIATIVES THAT ADVANCED THE REAL ESTATE PROFESSION AND CONTRIBUTED TO MAKING COMMUNITIES STRONGER. THE LEGAL...

MEMBER ADVOCACY - STATEWIDE ADVOCACY EFFORTS PROMOTED LEGISLATION AND PUBLIC POLICY INITIATIVES THAT ADVANCED THE REAL ESTATE PROFESSION AND CONTRIBUTED TO MAKING COMMUNITIES STRONGER. THE LEGAL HOTLINE HANDLED APPROXIMATELY 5,000 CALLS.

Program 2

MEMBER RESOURCES - HELD CONFERENCES AND NUMEROUS EDUCATIONAL PROGRAMS FOCUSING ON INDUSTRY ISSUES. MORE THAN 1,900 MEMBERS PARTICIPATED IN THESE PROGRAMS. A BI-MONTHLY MAGAZINE AND MONTHLY, BIWEEKLY, AND WEEKLY E-COMMUNICATIONS WERE DISTRIBUTED TO APPROXIMATELY 34,800 REALTORS AND INDUSTRY LEADERS. A WEBSITE FOR MEMBER AND PUBLIC USE WAS MAINTAINED AND RECEIVED APPROXIMATELY 13,000 HITS PER MONTH.

Program 3

CE MARKETPLACE IS A ONE-STOP DESTINATION FOR CERTIFIED, AUDIT PROTECTED, PROFESSIONAL DEVELOPMENT FOR REAL ESTATE INSTRUCTORS, COURSE SPONSORS, AND LICENSEES. THE CE MARKETPLACE ASSISTS REAL ESTATE LICENSEES WITH TRACKING CONTINUING EDUCATION HOURS FOR STATE OF MICHIGAN LICENSING REQUIREMENTS. CE MARKETPLACE HAS THE MOST CURRENT, COMPREHENSIVE, AND PRACTICAL REAL ESTATE EDUCATION INFORMATION AVAILABLE FROM COURSE INSTRUCTORS AND CLASS SPONSORS. SIGNIFICANT RESOURCES HAVE BEEN UTILIZED IN THE BUILDING OF THIS COMPREHENSIVE CE TRACKING SYSTEM. THE MICHIGAN LEGISLATURE HAS RECOGNIZED THE ROLE THAT PROFESSIONAL ORGANIZATIONS, LIKE MICHIGAN REALTORS PLAY IN UPHOLDING THE HIGH STANDARDS OF PROFESSIONALISM AMONG PRACTITIONERS. IN THE CURRENT YEAR THERE WERE 266 CE CERTIFIED INSTRUCTORS, 1,742 CE CERTIFIED COURSES, 4,351 CE COURSES HELD, AND 3,011 LICENSEES ACTIVATING RECORDS IN THE CE MARKETPLACE.

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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 $51,200

Program Service Revenue $9,424,101

Investment Income $629,073

Other Revenue $52,515

TOTAL REVENUE $10,156,889

Expense Breakdown

Grants Paid $35,582

Salaries & Benefits $3,985,628

Fundraising Expenses $0

Other Expenses $3,269,782

TOTAL EXPENSES $7,290,992

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,156,889	$8,798,547	+0.2%
Expenses	$7,290,992	$7,438,146	0.0%
Net Income	$2,865,897	$1,360,401	+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

200

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

$987,867

Total Directors

$11,272

Key Employees

$357,156

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD ADGATE	DIRECTOR	2.00	Director	$0	$0	$0
JODIE FRANKLIN	DIRECTOR	2.00	Director	$0	$0	$0
DEANNA COLEMAN	DIRECTOR	2.00	Director	$0	$0	$0
JASON MAKOWSKI	DIRECTOR	2.00	Director	$0	$0	$0
CAMILLE ELSEA	DIRECTOR	2.00	Director	$0	$0	$0
TERRY BIXLER	DIRECTOR	2.00	Director	$0	$0	$0
HASSAN AHMAD	DIRECTOR	2.00	Director	$0	$0	$0
KAREN GREENWOOD	DIRECTOR	2.00	Director	$0	$0	$0
CHELSEA CAIN	DIRECTOR	2.00	Director	$0	$0	$0
MATT HODGES	DIRECTOR	2.00	Director	$0	$0	$0
SUZZETTE DEAUX	DIRECTOR	2.00	Director	$0	$0	$0
ADAM PAARLBERG	DIRECTOR	2.00	Director	$0	$0	$0
KIMBERLY KURTZ	DIRECTOR	2.00	Director	$0	$0	$0
AARON FOX	DIRECTOR	2.00	Director	$0	$0	$0
AMANDA LANKERD	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM MILLIKEN	DIRECTOR	2.00	Director	$0	$0	$0
MICHELE PAPATHEODORE	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL VANDERWOUDE	DIRECTOR	2.00	Director	$0	$0	$0
ALFRED BLOCK	TREASURER-ELECT	2.00	Officer Director	$1,181	$0	$1,181
MARK OEGEMA	TREASURER	10.00	Officer Director	$2,380	$0	$2,380
CHRISTOPHER GERMAIN	PRESIDENT ELECT	2.00	Officer Director	$2,572	$0	$2,572
SANDRA SMITH	PRESIDENT	10.00	Officer Director	$5,139	$0	$5,139
ROBERT M CAMPAU	CEO/COO	40.00	Officer	$623,020	$79,655	$702,675
TARA GALLAGHER	DIRECTOR OF FINANCE	40.00	Officer	$227,329	$46,591	$273,920
BRADLEY WARD	VP OF PUBLIC POLICY & LEGA	40.00	Key Emp	$310,471	$46,685	$357,156
BRIAN WESTRIN	GENERAL COUNSEL	40.00	Highest	$269,694	$60,314	$330,008
REBECCA BURKE	DIRECTOR OF LEGAL EDUCATIO	40.00	Highest	$117,484	$19,597	$137,081
JOE KRAS	COMMUNICATIONS & MARKETING DIRECTOR	40.00	Highest	$114,442	$0	$114,442
DOUGLAS MERRIAM	ADVOCACY DIRECTOR	40.00	Highest	$111,315	$0	$111,315
ANTHONY DARABOS	SENIOR ACCOUNTANT	40.00	Highest	$106,906	$0	$106,906

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
2024	$10,156,889	$7,290,992	$25,035,614	$2,865,897
2023	$8,798,547	$7,438,146	$22,059,677	$1,360,401
2022	$8,584,549	$6,317,901	$20,082,221	$2,266,648
2021	$8,510,169	$6,130,661	$19,860,076	$2,379,508
2020	$7,377,816	$6,400,500	$14,654,584	$977,316
2019	$7,890,251	$6,607,491	$12,847,767	$1,282,760
2018	$8,212,424	$7,624,264	$10,262,259	$588,160