VIRGINIA ASSOCIATION OF REALTORS (EIN 540461014) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1920

Legal Domicile

Principal Officer

RICHARD LUGG

Phone

8042645033

Tax Period

2025-01-01 to 2025-12-31

VIRGINIA ASSOCIATION OF REALTORS, founded in 1920, is a community nonprofit that reported $6.2M in total revenue in fiscal year 2018. Net assets of $12.9M represent 25 months of operating reserves.

Mission

THE ASSOCIATION SHALL BE A NON PROFIT CORPORATION HAVING THE PURPOSE, IN CONCERT WITH ITS MISSION ASSOCIATIONS, TO ENHANCE THE ABILITY OF ITS MEMBERS TO ACHIEVE CAREER SUCCESS IN AN ETHICAL AND PROFESSIONAL MANNER AND TO PROMOTE AND PROTECT PRIVATE PROPERTY RIGHTS.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $8,228,016

Investment Income $2,203,895

Other Revenue $72,879

TOTAL REVENUE $10,504,790

Expense Breakdown

Grants Paid $376,402

Salaries & Benefits $5,585,013

Fundraising Expenses $0

Other Expenses $2,770,485

TOTAL EXPENSES $8,731,900

Year-over-Year Comparison

	2025	2024	Change
Revenue	$10,504,790	$9,660,304	+0.1%
Expenses	$8,731,900	$9,934,205	-0.1%
Net Income	$1,772,890	$-273,901	-7.5%

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

$400,970

Total Directors

$400,970

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LORRAINE ARORA	PRESIDENT	2.00	Officer Director	$0	$0	$0
CURT REICHSTETTER	PRESIDENT - ELECT	2.00	Officer Director	$0	$0	$0
SHERRY MASER	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
DIRON CLEMENTS	TREASURER	2.00	Officer Director	$0	$0	$0
GUY ALLEN	BOARD MEMBER	2.00	Director	$0	$0	$0
MARY ANN BURSTEIN	BOARD MEMBER	2.00	Director	$0	$0	$0
NICOLE CANOLE	BOARD MEMBER	2.00	Director	$0	$0	$0
REGGIE COPELAND	BOARD MEMBER	2.00	Director	$0	$0	$0
MICHELLE DOHERTY	BOARD MEMBER	2.00	Director	$0	$0	$0
CHARLES EDMONDS	BOARD MEMBER	2.00	Director	$0	$0	$0
MARY ELLSWORTH	BOARD MEMBER	2.00	Director	$0	$0	$0
JOHN FINN	BOARD MEMBER	2.00	Director	$0	$0	$0
RACHEL FOSTER	BOARD MEMBER	2.00	Director	$0	$0	$0
ANDREW FRISTOE	BOARD MEMBER	2.00	Director	$0	$0	$0
KELLY GRIFFIN	BOARD MEMBER	2.00	Director	$0	$0	$0
LYNN GRIMSLEY	BOARD MEMBER	2.00	Director	$0	$0	$0
CYNTHIA HAWKS WHITE	BOARD MEMBER	2.00	Director	$0	$0	$0
CYNTHIA HORNSBY	BOARD MEMBER	2.00	Director	$0	$0	$0
VONDA LACEY	BOARD MEMBER	2.00	Director	$0	$0	$0
GARY LANGE JR	BOARD MEMBER	2.00	Director	$0	$0	$0
KAERA MIMS	BOARD MEMBER	2.00	Director	$0	$0	$0
TAMAR MYERS-MOFFATT	BOARD MEMBER	2.00	Director	$0	$0	$0
CHANDRA PATTERSON	BOARD MEMBER	2.00	Director	$0	$0	$0
DONNA PATTON	BOARD MEMBER	2.00	Director	$0	$0	$0
TRACI SHOBERG	BOARD MEMBER	2.00	Director	$0	$0	$0
KAREN SMITH	BOARD MEMBER	2.00	Director	$0	$0	$0
DERRICK SWAAK	BOARD MEMBER	2.00	Director	$0	$0	$0
RICHARD LUGG	CEO	40.00	Officer Director	$366,379	$34,591	$400,970
ADAM SMITH	CHIEF PROGRAMS OFFICER	40.00	Highest	$219,798	$22,379	$242,177
MARY LAWSON	CHIEF LOBBYIST	40.00	Highest	$212,273	$23,569	$235,842
RYAN PRICE	SENIOR VP / CHIEF ECONOMIST	40.00	Highest	$212,273	$22,111	$234,384
STEPHEN DALEY	SENIOR VP / MARKETING AND MEMBERSHIP	40.00	Highest	$167,823	$22,737	$190,560
ERIN KORMAN	GENERAL COUNSEL/ CHIEF ADVOCACY OFFICER	40.00	Highest	$211,737	$24,622	$236,359
MARTIN JOHNSON	CHIEF EXTERNAL AFFAIRS OFFICER	40.00		$300,050	$18,308	$318,358
TERRIE SUIT	FORMER CEO	0.00		$318,750	$0	$318,750

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	$10,504,790	$8,731,900	$27,161,530	$1,772,890
2024	$9,660,304	$9,934,205	$25,999,957	$-273,901
2023	$9,482,797	$9,521,758	$25,407,136	$-38,961
2022	$9,190,148	$8,733,573	$23,514,556	$456,575
2021	$9,283,805	$7,130,710	$25,601,642	$2,153,095
2020	$7,654,535	$6,495,887	$22,154,878	$1,158,648
2019	$7,167,241	$6,932,955	$19,322,380	$234,286
2018	$6,160,502	$6,634,506	$16,494,889	$-474,004

VIRGINIA ASSOCIATION OF REALTORS