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Nonprofit · EIN 54-0461014

VIRGINIA ASSOCIATION OF REALTORS

Tax-exempt · GLEN ALLEN, VA 23059

Financials

$9.5M$9.5M2023$9.7M$9.9M2024$10.5M$8.7M2025
Revenue Expenses · by fiscal year end
Financials of VIRGINIA ASSOCIATION OF REALTORS by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990$10,504,790$8,731,900$1,772,890$27,161,530$5,789,814$21,371,716
December 31, 2024990$9,660,304$9,934,205-$273,901$25,999,957$6,164,428$19,835,529
December 31, 2023990$9,482,797$9,521,758-$38,961$25,407,136$5,872,375$19,534,761
Financial details: 990 for the year ended December 31, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$8,228,016
Investment income
$2,203,895
Royalties
$72,879
Net gain from sales of assets
$1,567,381
Other revenue
$72,879

Expenses

Grants and similar amounts paid
$376,402
Other salaries and wages
$4,601,673
Salaries, compensation and benefits (total)
$5,585,013
Professional fundraising fees
$0
Accounting fees
$26,230
Occupancy
$130,070
Travel
$91,318
Depreciation
$125,913

Balance sheet and other

Total assets, start of year
$25,999,957
Total assets, end of year
$27,161,530
Total liabilities, end of year
$5,789,814
Net assets, end of year
$21,371,716
Land, buildings and equipment
$968,369
Publicly traded securities
$19,672,417
Net assets without donor restrictions
$21,371,716
Gross receipts
$13,602,287
Employees
39
Volunteers
0
Year formed
1920
State of legal domicile
VA

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2025, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
RICHARD LUGGCEO
Trustee or director, Officer
40$366,379$34,591
TERRIE SUITFORMER CEO
Former
0$318,750$0
MARTIN JOHNSONCHIEF EXTERNAL AFFAIRS OFFICER
Former
40$300,050$18,308
ADAM SMITHCHIEF PROGRAMS OFFICER
Highest-paid employee
40$219,798$22,379
ERIN KORMANGENERAL COUNSEL/ CHIEF ADVOCACY OFFICER
Highest-paid employee
40$211,737$24,622
MARY LAWSONCHIEF LOBBYIST
Highest-paid employee
40$212,273$23,569
RYAN PRICESENIOR VP / CHIEF ECONOMIST
Highest-paid employee
40$212,273$22,111
STEPHEN DALEYSENIOR VP / MARKETING AND MEMBERSHIP
Highest-paid employee
40$167,823$22,737
LORRAINE ARORAPRESIDENT
Trustee or director, Officer
2$0$0
CURT REICHSTETTERPRESIDENT - ELECT
Trustee or director, Officer
2$0$0
SHERRY MASERVICE PRESIDENT
Trustee or director, Officer
2$0$0
DIRON CLEMENTSTREASURER
Trustee or director, Officer
2$0$0
GUY ALLENBOARD MEMBER
Trustee or director
2$0$0
MARY ANN BURSTEINBOARD MEMBER
Trustee or director
2$0$0
NICOLE CANOLEBOARD MEMBER
Trustee or director
2$0$0
20 more people on this return
NameTitleHours / weekCompensation
REGGIE COPELANDBOARD MEMBER
Trustee or director
2$0
MICHELLE DOHERTYBOARD MEMBER
Trustee or director
2$0
CHARLES EDMONDSBOARD MEMBER
Trustee or director
2$0
MARY ELLSWORTHBOARD MEMBER
Trustee or director
2$0
JOHN FINNBOARD MEMBER
Trustee or director
2$0
RACHEL FOSTERBOARD MEMBER
Trustee or director
2$0
ANDREW FRISTOEBOARD MEMBER
Trustee or director
2$0
KELLY GRIFFINBOARD MEMBER
Trustee or director
2$0
LYNN GRIMSLEYBOARD MEMBER
Trustee or director
2$0
CYNTHIA HAWKS WHITEBOARD MEMBER
Trustee or director
2$0
CYNTHIA HORNSBYBOARD MEMBER
Trustee or director
2$0
VONDA LACEYBOARD MEMBER
Trustee or director
2$0
GARY LANGE JRBOARD MEMBER
Trustee or director
2$0
KAERA MIMSBOARD MEMBER
Trustee or director
2$0
TAMAR MYERS-MOFFATTBOARD MEMBER
Trustee or director
2$0
CHANDRA PATTERSONBOARD MEMBER
Trustee or director
2$0
DONNA PATTONBOARD MEMBER
Trustee or director
2$0
TRACI SHOBERGBOARD MEMBER
Trustee or director
2$0
KAREN SMITHBOARD MEMBER
Trustee or director
2$0
DERRICK SWAAKBOARD MEMBER
Trustee or director
2$0
990 for the year ended December 31, 2024: 45 people
NameTitleHours / weekCompensationOther / benefits
TERRIE SUITCEO
Trustee or director, Officer
40$532,021$22,259
MARTIN JOHNSONINTERIM CEO
Officer
40$341,700$17,259
RICK LUGGCOO/CFO
Highest-paid employee
40$326,480$23,102
LAURA MURRAYSENIOR VP/GENERAL COUNSEL
Highest-paid employee
40$306,742$25,468
ADAM SMITHCHIEF PROGRAMS OFFICER
Highest-paid employee
40$206,904$20,913
MARY LAWSONSENIOR VP OF GOVERNMENT RE
Highest-paid employee
40$204,800$21,264
RYAN PRICESENIOR VP/CHIEF ECONOMIST
Highest-paid employee
40$204,800$20,931
THOMAS CAMPBELLPRESIDENT
Trustee or director, Officer
2$0$0
LORRAINE ARORAPRESIDENT-ELECT
Trustee or director, Officer
2$0$0
CURT REICHSTETTERVICE PRESIDENT
Trustee or director, Officer
2$0$0
SHERRY MASERTREASURER
Trustee or director, Officer
2$0$0
KATRINA SMITHIMMEDIATE PAST PRESIDENT
Trustee or director, Officer
2$0$0
GUY ALLENBOARD
Trustee or director
2$0$0
DEBORAH BAXTERBOARD
Trustee or director
2$0$0
QUINTON BECKHAMBOARD
Trustee or director
2$0$0
MARY ANN BURSTEINBOARD
Trustee or director
2$0$0
LINDA BUSKEYBOARD
Trustee or director
2$0$0
DIRON CLEMENTSBOARD
Trustee or director
2$0$0
REGGIE COPELANDBOARD
Trustee or director
2$0$0
MICHELLE DOHERTYBOARD
Trustee or director
2$0$0
MARY ELLSWORTHBOARD
Trustee or director
2$0$0
JOHN FINNBOARD
Trustee or director
2$0$0
RACHEL FOSTERBOARD
Trustee or director
2$0$0
ANDREW FRISTOEBOARD
Trustee or director
2$0$0
ELIZABETH GRANTBOARD
Trustee or director
2$0$0
LYNN GRIMSLEYBOARD
Trustee or director
2$0$0
MARY HARRISBOARD
Trustee or director
2$0$0
CYNTHIA HAWKS WHITEBOARD
Trustee or director
2$0$0
KENNETH HENSLEYBOARD
Trustee or director
2$0$0
CYNTHIA HORNSBYBOARD
Trustee or director
2$0$0
VONDA LACEYBOARD
Trustee or director
2$0$0
NICHOLAS LAGOSBOARD
Trustee or director
2$0$0
GARY LANGE JRBOARD
Trustee or director
2$0$0
W MCCLELLANBOARD
Trustee or director
2$0$0
REBECCA MILLERBOARD
Trustee or director
2$0$0
KAERA MIMSBOARD
Trustee or director
2$0$0
TAMAR MYERS-MOFFATTBOARD
Trustee or director
2$0$0
CHANDRA PATTERSONBOARD
Trustee or director
2$0$0
DONNA PATTONBOARD
Trustee or director
2$0$0
FATIMA PEREIRABOARD
Trustee or director
2$0$0
KAREN SMITHBOARD
Trustee or director
2$0$0
KEITH SMITHBOARD
Trustee or director
2$0$0
DERRICK SWAAKBOARD
Trustee or director
2$0$0
DALLISON VEACHBOARD
Trustee or director
2$0$0
DEBBIE WERLINGBOARD
Trustee or director
2$0$0
990 for the year ended December 31, 2023: 45 people
NameTitleHours / weekCompensationOther / benefits
TERRIE SUITCEO
Officer
40$581,138$21,943
RICK LUGGCOO/CFO
Highest-paid employee
40$315,530$30,091
MARTIN JOHNSONCHIEF EXPTERNAL AFFAIRS OF
Highest-paid employee
40$305,530$16,410
LAURA MURRAYSENIOR VP/GENERAL COUNSEL
Highest-paid employee
40$270,430$23,461
RYAN PRICESENIOR VP/CHIEF ECONOMIST
Highest-paid employee
40$200,391$20,590
MARY LAWSONSENIOR VP OF GOVERNMENT RE
Highest-paid employee
40$200,391$20,587
KATRINA SMITHPRESIDENT
Trustee or director, Officer
2$0$0
THOMAS CAMPBELLPRESIDENT-ELECT
Trustee or director, Officer
2$0$0
LORRAINE ARORAVICE PRESIDENT
Trustee or director, Officer
2$0$0
CURT REICHSTETTERTREASURER
Trustee or director, Officer
2$0$0
DENISE RAMEYIMMEDIATE PAST PRESIDENT
Trustee or director, Officer
2$0$0
GUY ALLENBOARD
Trustee or director
2$0$0
EDWARD ATIYEHBOARD
Trustee or director
2$0$0
DEBORAH BAXTERBOARD
Trustee or director
2$0$0
QUINTON BECKHAMBOARD
Trustee or director
2$0$0
PAGE BROWNINGBOARD
Trustee or director
2$0$0
ROBYN BURDETTBOARD
Trustee or director
2$0$0
DIRON CLEMENTSBOARD
Trustee or director
2$0$0
VIC COFFEYBOARD
Trustee or director
2$0$0
ANGELICA DELBOYBOARD
Trustee or director
2$0$0
MICHELLE DOHERTYBOARD
Trustee or director
2$0$0
MARY ELLSWORTHBOARD
Trustee or director
2$0$0
RACHEL FOSTERBOARD
Trustee or director
2$0$0
ANDREW FRISTOEBOARD
Trustee or director
2$0$0
ELIZABETH GRANTBOARD
Trustee or director
2$0$0
LYNN GRIMSLEYBOARD
Trustee or director
2$0$0
KAREN HALLBOARD
Trustee or director
2$0$0
BERNARD HAMANNBOARD
Trustee or director
2$0$0
CYNTHIA HAWKS WHITEBOARD
Trustee or director
2$0$0
KENNETH HENSLEYBOARD
Trustee or director
2$0$0
VONDA LACEYBOARD
Trustee or director
2$0$0
NICHOLAS LAGOSBOARD
Trustee or director
2$0$0
GARY LANGE JRBOARD
Trustee or director
2$0$0
SHERRY MASERBOARD
Trustee or director
2$0$0
REBECCA MILLERBOARD
Trustee or director
2$0$0
KAERA MIMSBOARD
Trustee or director
2$0$0
TANYA MONROEBOARD
Trustee or director
2$0$0
STEVEN OVERGARDBOARD
Trustee or director
2$0$0
CHANDRA PATTERSONBOARD
Trustee or director
2$0$0
DONNA PATTONBOARD
Trustee or director
2$0$0
NANCY PILANDBOARD
Trustee or director
2$0$0
JOHN POWELLBOARD
Trustee or director
2$0$0
KEITH SMITHBOARD
Trustee or director
2$0$0
PEGGY TODDBOARD
Trustee or director
2$0$0
DALLISON VEACHBOARD
Trustee or director
2$0$0

Address and contacts

Address (IRS master file)
10231 TELEGRAPH RD, GLEN ALLEN, VA 23059-4561
In care of
% RICHARD LUGG
Principal officer (990 for 2025)
RICHARD LUGG, 10231 TELEGRAPH ROAD, GLEN ALLEN, VA 23059
Signed the 990
RICHARD LUGG, CEO
Phone
(804) 264-5033
Return prepared by
FRANK BARCALOW CPA PLLC

Mission

THE ORGANIZATION WAS ORGANIZED TO UNITE ITS MEMBERSHIP IN ACTIVITIES TO EFFECTIVELY EXERT A COMBINED INFLUENCE UPON MATTERS AFFECTING THE REAL ESTATE INDUSTRY, TO ELEVATE THE STANDARDS OF THE REAL ESTATE INDUSTRY THROUGHOUT THE STATE AND TO PROMOTE THE PROFESSIONAL AND ETHICAL CONDUCT OF PERSONS ENGAGED THEREIN, AND TO PROMOTE THE COMMON BUSINESS INTERESTS OF THE REAL ESTATE INDUSTRY. IN FURTHERANCE OF THESE EXEMPT PURPOSES THE ASSOCIATION PROVIDES EDUCATION AND PROGRAMS SPECIFIC TO THE INDUSTRY, SPONSORS THE ANNUAL CONVENTION, DEVELOPS AND UPDATES FORMS THAT REFELCT VIRGINIA LAW AS IT RELATES TO THE REAL ESTATE INDUSTRY, AND ACTS AS A LIASON BETWEEN VIRGINIA REALTORS AND STATE GOVERNMENT.

990 for the year ended December 31, 2025

Program accomplishments

  • THE ASSOCIATION PROVIDES EDUCATION AND TOOLS SPECIFIC TO THE REAL ESTATE INDUSTRY, HOSTED MULTIPLE EVENTS THROUGHOUT THE YEAR, AND ACTED AS A LIASON BETWEEN REALTORS AND THE STATE GOVERNMENT, ADVOCATING ON BEHALF OF THE MEMBERSHIP.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026990 on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
54-0461014
Tax-exempt status
501(c)(6): Business league or chamber of commerce
Donations deductible
No
Exempt since
1983
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$27,161,530
Income (IRS master file)
$13,602,287

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2025$10,504,790$8,731,900$27,161,530XML
990December 2024$9,660,304$9,934,205$25,999,957IRS
990December 2023$9,482,797$9,521,758$25,407,136XML
990December 2022$9,190,148$8,733,573$23,514,556IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 54-0461014).

Questions about VIRGINIA ASSOCIATION OF REALTORS

What is the EIN of VIRGINIA ASSOCIATION OF REALTORS?
The employer identification number (EIN) of VIRGINIA ASSOCIATION OF REALTORS is 54-0461014.
Is VIRGINIA ASSOCIATION OF REALTORS tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1983.
Are donations to VIRGINIA ASSOCIATION OF REALTORS tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does VIRGINIA ASSOCIATION OF REALTORS file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of VIRGINIA ASSOCIATION OF REALTORS due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did VIRGINIA ASSOCIATION OF REALTORS last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2025.
Who is the principal officer of VIRGINIA ASSOCIATION OF REALTORS?
The 990 for the year ended December 31, 2025 names RICHARD LUGG.
Who are the officers and directors of VIRGINIA ASSOCIATION OF REALTORS?
The 990 for the year ended December 31, 2025 lists 35 people; 8 received compensation from the organization, the highest $366,379 (RICHARD LUGG, CEO).
How much revenue does VIRGINIA ASSOCIATION OF REALTORS have?
On its 990 for the year ended December 31, 2025 it reported revenue of $10,504,790, expenses of $8,731,900 and total assets of $27,161,530 at year end.

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