2017-02-14T14:01:15-06:00 2016-09-30 350921680 CROWE HORWATH LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2015-10-01 360904580 CHICAGO ASSOCIATION OF REALTORS CHIC 3128034900 430 N Michigan Ave 800 CHICAGO IL 60611 Warren Frank Chief Operations & Finance Officer 2017-02-14 true NICOLE BENCIK P00756195 3128997000 2015 2021-01-29 14:40:06Z X VIRGINIA DOWNS 430 N Michigan Ave CHICAGO IL 60611 6898470 false X WWW.CHICAGOREALTOR.COM X 1883 IL TO UNITE THE REAL ESTATE INDUSTRY IN CHICAGO THROUGH EDUCATION AND RESEARCH. 19 19 48 275 15764 1392 0 0 5339363 5775340 85316 40038 84160 62554 5508839 5877932 139315 141820 0 2516032 2775844 0 0 0 2780666 3070303 5436013 5987967 72826 -110035 6387452 9949631 1921473 5377448 4465979 4572183 THE CHICAGO ASSOCIATION OF REALTORS, THE "VOICE FOR REAL ESTATE" IN CHICAGO, REPRESENTS 13,100 MEMBERS FROM ALL REAL ESTATE SPECIALTIES, INCLUDING COMMERCIAL SALES, DEVELOPMENT, PROPERTY MANAGEMENT, APPRAISALS, AUCTIONS, AND RESIDENTIAL SALES, WITH EVENTS AND SERVICES TO PROMOTE UNITY AMONG MEMBERS, EDUCATION AND RESEARCH. false false MEMBER EVENTS: UNITE THOSE ENGAGED IN THE REAL ESTATE BUSINESS; ORGANIZED TO PROMOTE AND PROTECT THE INTERESTS OF MEMBERS AND OTHER PERSONS ENGAGED IN REAL ESTATE TRANSACTIONS AND PROPERTY MANAGEMENT. MEMBER SERVICES: RESEARCH PROGRAMS, WHICH COMPILE RELIABLE DATA CONCERNING REAL ESTATE, ITS TRENDS, AND MARKET CONDITIONS. MEMBER DEVELOPMENT: PROVIDE REAL ESTATE EDUCATIONAL FACILITIES FOR MEMBERS AND, WHEN PRACTICAL, FOR NON-MEMBERS. 0 false false true true false false false false false true false false true true true false true false false false false false false false false false true false true false false false false false false false false false false false true true true false true 44 0 true 48 true true true false false false false false X 19 19 false false false false true false false true true false false true true true true true true true false false X WARREN FRANK 3128034900 430 N Michigan Ave Suite 800 CHICAGO IL 60611 Matt Silver President-Elect 3.0 2.0 X X 6000 0 0 Rebecca Thomson Secretary/Treasurer 4.0 1.0 X X 1500 0 0 Dan Wagner President 10.0 1.0 X X 7500 0 0 Sonia Anaya Director 2.0 1.0 X 0 0 0 Nicholas H Apostal Director 2.0 1.0 X 0 0 0 Tommy Choi Director 2.0 1.0 X 0 0 0 Robert Eby Director 2.0 1.0 X 0 0 0 Gaspar Flores Jr Director 2.0 1.0 X 0 0 0 Doug Fox Director 2.0 X 0 0 0 Antje Gehrken Director 2.0 X 0 0 0 Coby S Hakalir Director 2.0 1.0 X 0 0 0 Maurice Hampton Director 2.0 X 0 0 0 Erin Mandel Director 2.0 X 0 0 0 David J Nasso Director 2.0 X 0 0 0 Christopher P Pezza Director 2.0 X 0 0 0 Molly Phelan Director 2.0 1.0 X 0 0 0 Nykea Pippion-McGriff Director 2.0 1.0 X 0 0 0 Hugh Rider Immediate Past President 1.0 1.0 X 9000 0 0 Sarah Ware Director 2.0 1.0 X 0 0 0 Virginia Downs CEO 46.0 1.0 X 344671 0 20111 Warren Frank COFO 50.0 X 194784 0 18253 Donald Coleman Director of IT 42.0 X 110419 0 11550 Robert Schmidt Comptroller 45.0 X 110055 0 13840 Tina Stepaniak Sr. Director - Professional Development 46.0 X 105401 0 5010 Amanda Withrow Sr Director-Member Care & Dispute Resolution 41.0 X 101574 0 13507 990904 0 82271 6 false true false HOLLAND & KNIGHT LLP 131 S DEARBORN - 30TH FLOOR CHICAGO IL 60603 LEGAL SERVICES 162540 1 0 MEMBERSHIP DUES 531390 3320422 3320422 MEMBER PROFESSIONAL DEVELOPMENT 611600 1205060 1205060 MEMBER FEES 531390 782479 782479 MEMBER EVENTS 531390 375970 375970 OTHER MEMBER SERVICES 531390 91409 91409 0 0 0 0 5775340 118936 2764 116172 26950 26950 0 26950 26950 858635 937533 -78898 0 -78898 -78898 85681 83005 2676 2676 ADMINISTRATIVE FEES FROM RELATED ORGANIZATION 900099 19928 19928 ADVERTISING 541800 13000 13000 0 0 0 0 32928 5877932 5797944 15764 64224 141820 609853 1803370 72229 102517 187875 37920 48816 33771 211295 0 0 0 266463 336667 538853 65842 193956 34644 member events & services 612475 member promotion & professional development 386123 association governance & government affairs 153726 INCOME TAX EXPENSE 1765 147987 0 0 0 5987967 0 0 0 500293 510055 1395389 1545029 78942 26767 0 0 31735 22877 98990 134796 2091936 1546891 460039 545045 3390208 3607819 0 0 431856 3557243 6387452 9949631 523829 423960 1187465 1634031 210179 3319457 1921473 5377448 X 4465979 4572183 4465979 4572183 6387452 9949631 -110035 216239 0 X false true X true false 10000 0 0 0 0 false false false false 3320422 78763 0 78763 68763 10000 Schedule C, Part I-A, Line 1 DESCRIPTION OF POLITICAL CAMPAIGN ACTIVITIES DURING THE YEAR ENDED SEPTEMBER 30, 2016, THE CHICAGO ASSOCIATION OF REALTORS MADE A POLITICAL CONTRIBUTION TO THE REALTORS POLITICAL ACTION COMMITTEE OF ILLINOIS FOR ADVANCEMENT OF REALTOR INTERESTS AT THE STATE AND NATIONAL LEVEL. Schedule C, Part I-A, Line 1 DESCRIPTION OF POLITICAL CAMPAIGN ACTIVITIES DURING THE YEAR ENDED SEPTEMBER 30, 2016, THE CHICAGO ASSOCIATION OF REALTORS MADE A POLITICAL CONTRIBUTION TO THE REALTORS POLITICAL ACTION COMMITTEE OF ILLINOIS FOR ADVANCEMENT OF REALTOR INTERESTS AT THE STATE AND NATIONAL LEVEL. 25000 25000 222699 67122 155577 536833 378961 157872 1307404 1100808 206596 545045 DUE FROM AFFILIATE - NIREIN 456076 RIGHT TO USE OFFICE SPACE 2116000 TENANT INCENTIVE RECEIVABLE 985167 3557243 DUES PAYABLE TO NATIONAL AND STATE ASSOCIATIONS 72560 LEASE LIABILITY FOR OFFICE SPACE 3246897 3319457 X 6095356 216239 83005 299244 5796112 81820 81820 5877932 5989152 83005 83005 5906147 81820 81820 5987967 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote Because of the nature of its primary purpose, CAR has been determined by the Internal Revenue Service to be exempt from federal income tax under the provision of Section 501(c)(6) of the Internal Revenue Code, except to the extent of any unrelated business income. CAR had unrelated business income from advertising revenue and imputed interest in 2016 and 2015. The tax returns for the organization for the years ended September 30, 2012 through 2016 are open years for purposes of any future IRS or Illinois Department of Revenue examinations. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Cost of Goods Sold - 83005 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Contributions to Related Organization (CAREF) - 81820 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Cost of Goods Sold - 83005 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Contributions to Related Organization (CAREF) - 81820 true Realtors Political Action Committee of Illinois 522 S Fifth Street Springfield IL 62701 370951209 527 10000 Corporate contribution for advancement of Realtor interests at State & National Level Chicago Association of Realtors Education Foundation 200 S Michigan Ave Suite 400 Chicago IL 60604 363746120 501(C)(3) 81820 Real estate education, helping to fight homelessness, and other charitable endeavors Dearborn Realtist Board 8454 S Stony Island Ave Chicago IL 60617 364413452 6000 Further the cause of real estate in the African American community Illinois Realtors 522 S Fifth Street Springfield IL 62701 370644545 18500 Further the cause of real estate on a statewide level 1 3 Schedule I, Part II, Line 1(h) PURPOSE OF GRANT OR ASSISTANCE REALTORS POLITICAL ACTION COMMITTEE OF ILLINOIS: CORPORATE CONTRIBUTION FOR ADVANCEMENT OF REALTOR INTERESTS AT STATE & NATIONAL LEVEL Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. A REPRESENTATIVE OF THE ORGANIZATION IS IN CLOSE CONTACT THROUGHOUT THE YEAR WITH ORGANIZATIONS TO WHICH FINANCIAL ASSISTANCE IS PROVIDED TO ENSURE FUNDS ARE USED FOR THEIR INTENDED PURPOSE. X X X false false false Virginia Downs CEO 288891 0 49000 0 6780 0 10600 0 9511 0 364782 0 0 0 Warren Frank COFO 180889 0 10000 0 3895 0 8016 0 10237 0 213037 0 0 0 Form 990, Part VI, Line 15b PROCESS USED TO ESTABLISH COMPENSATION OF OTHER OFFICERS/KEY EMPLOYEES Compensation for the organization's COFO is determined by the CEO after reviewing the Annual Chicagoland Association Forum Compensation & Benefits Survey Booklet. The location (city of Chicago), the revenues ($5-10M), and the staff size (21-50) are the factors utilized. The target is to be within the 25th to 75th percentile. Form 990, Part VI, Line 1a Material differences in voting rights Each member of the Executive Committee shall be a member of the board of directors. The purpose of the Executive Committee is to make policy recommendations for Board approval and is empowered to act on behalf of the board between meetings, including ratification of Professional Standards cases. Except as specifically authorized by the Board of Directors by resolution duly adopted, no committee or work group shall have any authority to amend, alter or repeal the bylaws; elect, appoint or remove any member of any committee or any director or officer of CAR; amend the articles of incorporation; adopt a plan of consolidation with another corporation; authorize the sale, lease or exchange of any of the property or assets of CAR; authorize the voluntary dissolution of CAR; or amend, alter or repeal any resolution of the Board of Directors. The designation and appointment of any committee or work group and the delegation to that committee or work group of authority shall not operate to relieve the Board of Directors, or any individual director of any responsibility imposed upon it or any individual director by law. Form 990, Part VI, Line 6 Classes of members or stockholders THERE ARE SEVEN CATEGORIES OF MEMBERS AUTHORIZED IN THE ORGANIZATION'S BYLAWS, AS FOLLOWS: 1. REALTOR Members The different types of REALTOR Members include: - Individuals who are sole proprietors, partners, corporate officers, or branch office managers and are engaged actively in the real estate profession by buying, selling, exchanging, renting, leasing, managing, appraising for others for compensation, counseling, building, developing, or subdividing real estate, and who maintain or are associated with an established real estate office located within the State of Illinois, or a state contiguous thereto. - Individuals who are engaged in the real estate profession other than as sole proprietors, partners, corporate officers, or branch office managers, and are associated with a REALTOR Member and meet the qualifications set out in Article VII of the organization's By-laws. - Corporate officers (who may be licensed or unlicensed) of a real estate brokerage franchise organization with at least 150 franchisees located within the United States, its insular possessions and the commonwealth of Puerto Rico, elected to membership pursuant to the constitution and by-laws of The National Association of Realtors (NAR). REALTOR Members may be: - A Primary REALTOR Members has selected CAR as its "Primary" Association. - A Secondary REALTOR Members has not not selected CAR as its "Primary" Association. - A Designated REALTOR Members is a sole proprietor, partner, corporate officer, or branch office manager acting on behalf of the firm's principal(s), who has been designated in writing to be responsible for all duties and obligations of membership. 2. Institute Affiliate Members Institute Affiliate Members shall be (a) individuals who hold a professional designation awarded by an Institute, Society, or Council affiliated with NAR that addresses a specialty area other than residential brokerage, or (b) individuals who otherwise hold a class of membership in such Institute, Society, or Council that confers the right to hold office. Any such individual, if otherwise eligible, may elect to be a REALTOR Member, subject to payment of applicable dues. 3. Affiliate Members Affiliate Members shall be individuals, firms, or corporations, wherever residing or located, who, while not engaged in the real estate profession as described in the organization's By-laws, have interests requiring information concerning real estate, and who share and are in sympathy with the objectives of CAR. Affiliate Members shall not be entitled to vote, to hold office, use the term REALTOR or be a Participant or Subscriber in CAR /MLS (MRED), except as provided under Section 14.2 of the organization's By-laws 4. Honorary Members Honorary Members shall be individuals who are not engaged in the real estate profession but who have performed notable service for the real estate profession, for CAR, or for the public. Honorary Members shall not be entitled to vote, to hold office, or to use the term REALTOR. 5. Honorary Life Members Honorary Life Members shall be (a) the past presidents of CAR or any of its predecessor entities, (b) individuals holding membership for a total of 40 years or more in CAR or any of its predecessor entities, (c) Active Life Members, (c) Hall of Fame Members, and (d) such other Member regardless of classification or term of membership, who has, pursuant to a duly adopted resolution of the Board of Directors, been granted an exemption from CAR dues, excepting those amounts as shall from time to time constitute the portion of CAR dues to NAR and IAR imposed on CAR for such Member's membership in CAR and the Designated REALTOR dues formula. Honorary Life Members shall be entitled to vote and to hold office if prior to becoming an Honorary Life Member the Honorary Life Member was a REALTOR Member of CAR or an active member of any of CAR's predecessor entities. 6. Hall of Fame Members Hall of Fame Members shall be individuals who satisfy each of the criteria for Hall of Fame membership as set forth in the Policy and Procedure Manual and as determined by the Board of Directors, and who have been nominated by the Hall of Fame Governing Committee and elected to the CAR Hall of Fame by the Board of Directors. Hall of Fame Members shall not be entitled to vote, to hold office, or to use the term REALTOR, unless the Hall of Fame Member is a REALTOR Member. 7. Emeritus Members Emeritus Members shall be any individual who is a REALTOR Member and who has been a REALTOR-Principal, REALTOR or Honorary Member for 40 or more years. Emeritus Members shall have the right to vote, to hold office, and to use the term REALTOR. Form 990, Part VI, Line 11b Review of form 990 by governing body AN ELECTRONIC COPY OF FORM 990 IS MADE AVAILABLE TO ALL BOARD MEMBERS FOR REVIEW PRIOR TO FILING. BOARD MEMBERS ARE INSTRUCTED TO NOTIFY THE ORGANIZATION'S COFO OF ANY QUESTIONS OR COMMENTS. Form 990, Part VI, Line 12c Conflict of interest policy DIRECTORS, COMMITTEE MEMBERS, AND STAFF ARE REQUIRED TO SIGN A CONFLICT OF INTEREST DISCLOSURE STATEMENT ANNUALLY, IN ACCORDANCE WITH THE ORGANIZATION'S POLICY AND PERSONNEL MANUALS. Board members' conflict of interest disclosure statements are reviewed by the CEO to determine whether a potential or actual conflict exists. Committee members' conflict of interest disclosure statements are reviewed by the staff person assigned to such committee to determine whether a potential or actual conflict exists. If an actual conflict is determined to exist, the individual is recused from discussions and voting on matters relating to such conflict. Form 990, Part VI, Line 15a Process to establish compensation of top management official Compensation set forth in the organization's CEO's 5-year contract is determined by the Executive Committee after review of the compensation survey from the Association Forum and compensation information reported in Forms 990 for other similarly sized Realtor Associations. The Executive Committee reviewed the compensation information and conducted a formal performance evaluation of the CEO, and then prepared a formal motion for approval by the board of directors. The review and approval process for the CEO's 5-year contract was documented in the Executive Committee and board meeting minutes, and was last performed in April/May 2013 . The approved motion, along with the performance evaluation and comparability data, are also placed in the CEO's personnel file. In addition, the Executive Committee reviews the compensation survey from the Association Forum and conducts a formal performance evaluation of the CEO on an annual basis, which was last performed in September 2016 in determining whether pay adjustments and/or bonuses will be awarded per the terms of the CEO's contract. The annual review/approval process is also documented in the Executive Committee meeting minutes. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CHICAGO ASSOCIATION OF REALTORS EDUCATIONAL FOUNDATION INC 430 North MICHIGAN AVENUE Suite 800 CHICAGO IL 60611 363746120 RESEARCH & EDUCATION IN REAL ESTATE IL 501(c)(3 Type I CAR true CHICAGO ASSOCIATION OF REALTORS BUSINESS INFORMATION SERVICES INC 430 NORTH MICHIGAN AVENUE Suite 800 CHICAGO IL 60611 474639535 REAL ESTATE INFORMATION SERVICES IL CHICAGO ASSOCIATION OF REALTORS C Corporation 1 true true true false false false false false false false false false true false true true false true true true Chicago Association of Realtors Education Foundation B 81820 Board Approved Contribution - Actual CHICAGO ASSOCIATION OF REALTORS BUSINESS INFORMATION SERVICES INC A 2764 Actual