Nonprofit · EIN 56-0709311
RALEIGH REGIONAL ASSOCIATION OF REALTORS INC
Tax-exempt · CARY, NC 27513
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $3,766,159 | $3,562,225 | $203,934 | $11,644,660 | $1,401,780 | $10,242,880 |
| December 31, 2023 | 990 | $2,414,124 | $3,460,124 | -$1,046,000 | $11,274,429 | $1,066,985 | $10,207,444 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $3,482,688
- Membership dues
- $3,482,688
- Program service revenue
- $278,789
- Investment income
- -$301,398
- Net rental income
- $234,216
- Net gain from sales of assets
- -$410,164
- Net income from sales of inventory
- $71,864
- Other revenue
- $306,080
Expenses
- Grants and similar amounts paid
- $9,176
- Compensation of officers, directors and key employees
- $593,472
- Other salaries and wages
- $1,149,436
- Salaries, compensation and benefits (total)
- $2,150,095
- Professional fundraising fees
- $0
- Legal fees
- $27,084
- Accounting fees
- $36,286
- Occupancy
- $236,330
- Travel
- $143,818
- Depreciation
- $181,453
Balance sheet and other
- Total assets, start of year
- $11,274,429
- Total assets, end of year
- $11,644,660
- Total liabilities, end of year
- $1,401,780
- Net assets, end of year
- $10,242,880
- Land, buildings and equipment
- $3,151,744
- Net assets without donor restrictions
- $6,896,853
- Net assets with donor restrictions
- $3,346,027
- Gross receipts
- $4,382,076
- Employees
- 26
- Volunteers
- 0
- Year formed
- 1924
- State of legal domicile
- NC
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, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID PHILLIPS | CEO Officer | 50 | $235,331 | $9,294 |
| MAGEN FARRELL | VP FINANCE Officer | 50 | $129,677 | $11,110 |
| CARA MOTTERSHEAD | VP OPERATION Officer | 50 | $128,495 | $11,130 |
| SHEILA DODSON | SENIOR VP AD Officer | 50 | $64,716 | $3,718 |
| TERESA PITT | PAST - PRESIDENT Trustee or director, Officer | 2 | $0 | $0 |
| TIM MCBRAYER | PRESIDENT Trustee or director, Officer | 5 | $0 | $0 |
| SHARON GUPTON | PRESIDENT ELECT Trustee or director, Officer | 2 | $0 | $0 |
| BRYAN SELSER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARCIA BALTIMORE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| COLLEEN BLONDELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KOREN BOWMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TAMMY ANDERSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HANNAH CHAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CODJO COSSOU | DIRECTOR Trustee or director | 1 | $0 | $0 |
| FRANK DERONJA | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
15 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SHIV NUNNA | DIRECTOR Trustee or director | 1 | $0 |
| MONIQUE EDWRDS | DIRECTOR Trustee or director | 1 | $0 |
| MAYA GALLETTA | DIRECTOR Trustee or director | 1 | $0 |
| JAY SUTTON | DIRECTOR Trustee or director | 1 | $0 |
| JON MCBRIDE | DIRECTOR Trustee or director | 1 | $0 |
| TIM MOCK | DIRECTOR Trustee or director | 1 | $0 |
| MARK PARKER | DIRECTOR Trustee or director | 1 | $0 |
| TALVIA PETERSON | DIRECTOR Trustee or director | 1 | $0 |
| LARRY TERRY | DIRECTOR Trustee or director | 1 | $0 |
| RENEE SMITH | DIRECTOR Trustee or director | 1 | $0 |
| TOM SMITH | DIRECTOR Trustee or director | 1 | $0 |
| DERRICK THORNTON | DIRECTOR Trustee or director | 1 | $0 |
| CHARLES UMSTEAD - RESIGNED MID YEAR | DIRECTOR Trustee or director | 1 | $0 |
| CHRISTIE YARBROUGH | DIRECTOR Trustee or director | 1 | $0 |
| FARA POURSHARIATI - JOINED MID YEAR | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 30 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID PHILLIPS | CEO Officer | 50 | $241,361 | $20,834 |
| SHEILA DODSON | SENIOR VP AD Officer | 50 | $174,893 | $17,765 |
| CARA MOTTERSHEAD | VP OPERATION Officer | 50 | $117,964 | $15,141 |
| MAGEN FARRELL | VP FINANCE Officer | 50 | $115,083 | $14,959 |
| TERESA PITT | PRESIDENT Trustee or director, Officer | 5 | $0 | $0 |
| TIM MCBRAYER | PRESIDENT - ELECT Trustee or director, Officer | 2 | $0 | $0 |
| SHARON GUPTON | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| LESLIE WILLIAMS | PAST - PRESIDENT Trustee or director, Officer | 2 | $0 | $0 |
| MARCIA BALTIMORE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| COLLEEN BLONDELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KOREN BOWMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRETT BUSHNELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HANNAH CHAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CODJO COSSOU | DIRECTOR Trustee or director | 1 | $0 | $0 |
| FRANK DERONJA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HARRIETTE DOGGETT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MONIQUE EDWRDS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MAYA GALLETTA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANNMARIE JANNI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JON MCBRIDE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TIM MOCK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARK PARKER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TALVIA PETERSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOE SCHABOT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RENEE SMITH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TOM SMITH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DERRICK THORNTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHARLES UMSTEAD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRISTIE YARBROUGH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN WOOD | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 111 REALTORS WAY, CARY, NC 27513-8616
- In care of
- % LAWRENCE J CAISON CPA
- Principal officer (990 for 2024)
- MAGEN FARRELL, 111 REALTORS WAY, CARY, NC 27511
- Signed the 990
- MAGEN FARRELL, VP FINANCE
- Phone
- (561) 862-9591
- Website
- HTTPS://WWW.RRAR.COM/
- Return prepared by
- MPCOMPANY LLP
Mission
THE ORGANIZATION WAS FORMED TO PROVIDE INFORMATIONAL AND EDUCATIONAL OPPORTUNITIES FOR ITS MEMBERS.
Program accomplishments
- RALEIGH REGIONAL ASSOCIATION OF REALTORS PROVIDES INFORMATIONAL SERVICES AND EDUCATIONAL OPPORTUNITIES TO ITS MEMBER REALTORS.
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 56-0709311
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1965
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $11,644,660
- Income (IRS master file)
- $4,382,076
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $3,766,159 | $3,562,225 | $11,644,660 | IRS |
| 990 | December 2023 | $2,414,124 | $3,460,124 | $11,274,429 | XML |
| 990 | December 2022 | $6,591,689 | $7,160,234 | $8,030,768 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | 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 56-0709311).
Questions about RALEIGH REGIONAL ASSOCIATION OF REALTORS INC
- What is the EIN of RALEIGH REGIONAL ASSOCIATION OF REALTORS INC?
- The employer identification number (EIN) of RALEIGH REGIONAL ASSOCIATION OF REALTORS INC is 56-0709311.
- Is RALEIGH REGIONAL ASSOCIATION OF REALTORS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1965.
- Are donations to RALEIGH REGIONAL ASSOCIATION OF REALTORS INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does RALEIGH REGIONAL ASSOCIATION OF REALTORS INC 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 RALEIGH REGIONAL ASSOCIATION OF REALTORS INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did RALEIGH REGIONAL ASSOCIATION OF REALTORS INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of RALEIGH REGIONAL ASSOCIATION OF REALTORS INC?
- The 990 for the year ended December 31, 2024 names MAGEN FARRELL.
- Who are the officers and directors of RALEIGH REGIONAL ASSOCIATION OF REALTORS INC?
- The 990 for the year ended December 31, 2024 lists 30 people; 4 received compensation from the organization, the highest $235,331 (DAVID PHILLIPS, CEO).
- How much revenue does RALEIGH REGIONAL ASSOCIATION OF REALTORS INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $3,766,159, expenses of $3,562,225 and total assets of $11,644,660 at year end.
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