Charlottesville Area Association of Realtors Foundation
Nonprofit profile at a glance
- EIN
- 852523353
- IRS 990-EZ coverage
- 2024–2024
- Forms available
- Form 990 2023, Form 990-EZ 2024
- Location
- Charlottesville, VA, USA
- Rating
- 92
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Public Foundations
Reported finances
- Revenue
- $64,635
- Expenses
- $116,991
- Assets
- $219,376
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
14 people listed
People named in this filing
- TAMMY WILT (CHAIRMAN)
- GREG SLATER (VICE CHAIRMA)
- JOHN CROCKER (TREASURER)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
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
What it reported doing in 2024
Activity 4 a.silent auction & reception b.realtors and members of the public c.hillsdale conference center d.annually e.65% of the registration fee will be a contribution to foundation; 35% of the registration fee will cover event expenses; additional hard costs will be covered by sponsorships (food & beverage, prizes, marketing) f.30% of the foundation's time - marketing & promotion; planning meetings; execution of the event g.raising funds that will allow the foundation to offer financial support for affordable housing needs & initiatives (see specific information in activity 2) activity 5 a.introduction to home ownership seminars b.members of the public; subject matter experts such as lenders, local non-profits c.hillsdale conference center d.quarterly e.free f.5% of the foundation's time - marketing & promotion; planning meetings; conducting seminars g.raising awareness of affordable housing opportunities; educating first- time home buyers about how to become a homeowner and continued homeownership responsibilities
Operating model
- Revenue model
- Donor-supported. 98% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 100
- Transparency & Controls: 100
- Sustainability: 23
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 99.6%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -81%; rating input score 9; 9th percentile among comparable filings
- Total-asset coverage ratio: 1.88; rating input score 63; 63rd percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 62.9%; rating input score 2; 2nd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -18.3% per year; rating input score 0; 16th percentile among comparable filings
- Asset growth: 17.1% per year; rating input score 100; 83rd percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 99.6% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 4 filed program accomplishments · $117K in reported program spending
- Leadership: top reported pay $0 · 14 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 3 filed schedules
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 9/100.
- High — Sustainability: Officer compensation ratio scored 2/100.