Richmond Association of Realtors I… - 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

1874

Legal Domicile

Principal Officer

Laura Lafayette

Phone

8044225000

Tax Period

2024-01-01 to 2024-12-31

Richmond Association of Realtors Inc, founded in 1874, is a community nonprofit that reported $5.3M in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $4.8M left a modest 10% surplus.

Mission

To unite, promote and educate the realtor and the real estate profession.

Program Service Accomplishments

Program 1

Membership meetings and programs - events held for members and others associated with the real estate community to discuss issues and topics of ongoing importance.

Program 2

Education - educational classes held for the benefit of those in the real estate community to keep them abreast of the latest developments in the field and to fulfill continuing education...

Education - educational classes held for the benefit of those in the real estate community to keep them abreast of the latest developments in the field and to fulfill continuing education requirements for re-licensure.

Program 3

Annual Event - A one-day event held annually to educate members and others associated with the real estate community about important industry changes concerning technology, available services...

Annual Event - A one-day event held annually to educate members and others associated with the real estate community about important industry changes concerning technology, available services, educational opportunities, etc.

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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 $2,282,969

Investment Income $1,184,419

Other Revenue $1,832,398

TOTAL REVENUE $5,299,786

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,300,856

Fundraising Expenses $0

Other Expenses $1,471,861

TOTAL EXPENSES $4,772,717

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,299,786	$4,335,381	+0.2%
Expenses	$4,772,717	$4,372,212	+0.1%
Net Income	$527,069	$-36,831	-15.3%

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

155

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

$596,841

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Joan Dorsey	President	5.00	Officer Director	$0	$0	$0
Dare Tulloch	Immediate Past President	5.00	Officer Director	$0	$0	$0
Dakia Knight	Vice President	5.00	Officer Director	$0	$0	$0
Stephanie Prentice	Director	5.00	Director	$0	$0	$0
Monica Rawles	Director	5.00	Director	$0	$0	$0
Daphne MacDougall	Director	5.00	Director	$0	$0	$0
John VanderSyde	Director	5.00	Director	$0	$0	$0
Scott McClaine	Director	5.00	Director	$0	$0	$0
Laura Lafayette	Chief Executive Officer	40.00	Officer	$423,111	$14,826	$437,937
Margaret Lynch	VP, Risk Mgmt & Broker	40.00	Officer	$144,925	$13,979	$158,904
Kelsey Croston	Chief Operating Officer	40.00	Highest	$192,003	$33,183	$225,186
Joh Gehlbach	VP, Government Affairs	40.00	Highest	$155,828	$6,444	$162,272
Mark Luck	VP, Information Technology	40.00	Highest	$156,415	$17,880	$174,295
Douglas Pullan	VP, Finance	40.00	Highest	$152,258	$14,121	$166,379
Erika Almstead	VP, MLS & Member Services	40.00	Highest	$152,075	$14,121	$166,196

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	$5,299,786	$4,772,717	$34,996,518	$527,069
2023	$4,335,381	$4,372,212	$31,581,370	$-36,831
2022	$4,565,704	$4,493,318	$29,365,494	$72,386
2021	$4,626,448	$3,951,684	$32,077,110	$674,764
2020	$4,470,669	$3,666,748	$27,138,587	$803,921
2019	$5,098,037	$3,716,856	$23,732,296	$1,381,181
2018	$4,384,303	$3,733,251	$19,637,623	$651,052

Richmond Association of Realtors Inc