Heartland 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

1945

Legal Domicile

Principal Officer

Laura Tilley

Phone

3252002862

Tax Period

2024-01-01 to 2024-12-31

Heartland Association of Realtors, founded in 1945, is a small nonprofit that reported $220K in total revenue in fiscal year 2024. Expenses of $265K exceeded revenue, resulting in a 20% operating deficit.

Mission

Our mission is to serve our members and our communities through advocacy education and ethics. We provide training and technological tools for members and we invest back into the communities our members serve. We advocate for private property rights and homeownership for all.

Program Service Accomplishments

Program 1

Expenses: $87,334 Revenue: $167,356

Provided technological tools to strealine and improve member processes and functionality to better serve clients

Program 2

Expenses: $20,989 Revenue: $14,318

Committee expenses to meet the Core Standards of the National Association of REALTORS so we could maintain our charter through the parent organization.

Program 3

Expenses: $12,611 Revenue: $0

Travel expenses to allow leadership and engaged members to participate in our state and national events. This allows them to serve at higher levels and network with other members to increase their...

Travel expenses to allow leadership and engaged members to participate in our state and national events. This allows them to serve at higher levels and network with other members to increase their business and skills.

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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 $38,127

Program Service Revenue $181,675

Investment Income $300

Other Revenue $0

TOTAL REVENUE $220,102

Expense Breakdown

Grants Paid $0

Salaries & Benefits $48,922

Fundraising Expenses $0

Program Expenses $120,934

Other Expenses $215,855

TOTAL EXPENSES $264,777

Year-over-Year Comparison

	2024	2023	Change
Revenue	$220,102	$215,577	+0.0%
Expenses	$264,777	$241,900	+0.1%
Net Income	$-44,675	$-26,323	+0.7%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Sheri Wells	President	1.00	Director	$0	$0	$0
Heidi Andrade	Past President	1.00	Director	$0	$0	$0
Jackie randle	President Elect	1.00	Director	$0	$0	$0
Rene Faubion	Treasurer	1.00	Director	$0	$0	$0
Gina Jameson	MLS Director	1.00	Director	$0	$0	$0
Teresa Ruiz	Governance Director	1.00	Director	$0	$0	$0
Cathryn Davis	Governmental Affairs Director	1.00	Director	$0	$0	$0
Josh Furry	@Large Director	1.00	Director	$0	$0	$0
Allen Strickland	@Large Director	1.00	Director	$0	$0	$0
Laura Tilley	Association Executive	40.00	Key Emp Highest	$0	$0	$0

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	$220,102	$264,777	$151,484	$-44,675
2023	$215,577	$241,900	$173,831	$-26,323
2022	$225,635	$189,820	$206,384	$35,815