CHARLOTTESVILLE AREA ASSOCIATION OF REALTORS FOUNDATION

EIN: 852523353 501(c)(3) Philanthropy & Grantmaking

CHARLOTTESVILLE, VA

Total Revenue
$117,904
Total Expenses
$20,020
Total Assets
$261,945
Net Assets
$261,945
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Financial Trends

Organization Details

Formation Year
2021
Legal Domicile
VA
Principal Officer
TAMMY WILT
Tax Period
2023-01-01 to 2023-12-31

CHARLOTTESVILLE AREA ASSOCIATION OF REALTORS FOUNDATION is a micro nonprofit in the Philanthropy & Grantmaking sector that reported $71K in total revenue in fiscal year 2021. The organization ran a surplus of $71K, a strong 100% operating margin.

Mission

THE FOUNDATION, AS CAARS PHILANTHROPIC INITIATIVE, IS INTENDED TO BE AN EFFECTIVE MECHANISM FOR REALTORS TO DONATE THEIR TIME, TALENT, AND RESOURCES TO IMPACT, SUSTAIN AND SUPPORT COMMUNITY INITIATIVES. THE PURPOSES OF THE FOUNDATION SHALL BE EXCLUSIVELY CHARITABLE AND EDUCATIONAL, FOR EXEMPT PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, INCLUDING THE FOLLOWING PURPOSES: 1. TO LEVERAGE THE PHILANTHROPIC PASSION, KNOWLEDGE, AND SKILLS OF CAARS MEMBERSHIP AND AFFILIATES 2. TO PROVIDE VOLUNTEER OPPORTUNITIES 3. TO CREATE OPPORTUNITIES FOR CAAR MEMBERS TO LEVERAGE THEIR COMBINED GIVING POWER AND REALIZE A TAX BENEFIT, WHERE APPLICABLE 4. TO ENSURE ACCOUNTABILITY AND IMPACT OF DONATIONS THROUGH REPORTING METRICS 5. TO SEEK CONTRIBUTIONS IN FURTHERANCE OF THE FOUNDATIONS STRATEGIC COMMUNITY INITIATIVES AND PURPOSES FROM ANY SOURCE, BUT PRIMARILY FROM THE MEMBERSHIP OF THE CAAR AND OTHER INTERESTED INDIVIDUALS AND CORPORATIONS. 6. TO MANAGE

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $111,600
Program Service Revenue $0
Investment Income $6,304
Other Revenue $0
TOTAL REVENUE $117,904

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $18,682
Other Expenses $20,020
TOTAL EXPENSES $20,020

Year-over-Year Comparison

2023 2022 Change
Revenue $117,904 $98,980 +0.2%
Expenses $20,020 $17,341 +0.2%
Net Income $97,884 $81,639 +0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
13
Independent Members
13
Employees
N/A
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
$0
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TAMMY WILT CHAIRMAN 1.00
Officer Director
$0 $0 $0
GREG SLATER VICE CHAIRMA 1.00
Officer Director
$0 $0 $0
JOHN CROCKER TREASURER 1.00
Officer Director
$0 $0 $0
ABBY TAMMEN SECRETARY 1.00
Officer
$0 $0 $0
VIRGINIA BAREFOOT DIRECTOR 1.00
Director
$0 $0 $0
RACHEL BURNS DIRECTOR 1.00
Director
$0 $0 $0
TIMOTHY CARSON DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL GUTHRIE DIRECTOR 1.00
Director
$0 $0 $0
KRISTEL HARRIS DIRECTOR 1.00
Director
$0 $0 $0
MARY KING DIRECTOR 1.00
Director
$0 $0 $0
PETER MCFARREN DIRECTOR 1.00
Director
$0 $0 $0
JESSICA RUSSO DIRECTOR 1.00
Director
$0 $0 $0
KRISTIN STREED DIRECTOR 1.00
Director
$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
2023 $117,904 $20,020 $261,945 $97,884
2022 $98,980 $17,341 $147,661 $81,639
2021 $71,000 $175 $71,325 $70,825
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