Chicago Association of REALTORS

Nonprofit profile at a glance

EIN
360904580
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3128034900
Rating confidence
Limited

Official website

Reported finances

Revenue
$8,293,923
Expenses
$8,625,181
Assets
$6,633,008
Liabilities
$4,176,319

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

30 people listed

Executive titles in this filing

  • Erika Vilegas (President)
  • Lutalo McGee (President-Elect)
  • Sarah Ware (Past President)
  • Michelle Mills Clement (CEO)

Highest reported compensation

  • Michelle Mills Clement (CEO): $544,935 total reported compensation
  • Zachariah Wahlquist (COO (through 01/25)): $278,640 total reported compensation
  • Robert Schmidt (CFO): $254,950 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The chicago association of realtors, the "voice for real estate" in chicago, represents 16,400 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.

What it reported doing in 2024

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.

Operating model

Revenue model
Other-operating. 97% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 88
  • Accountability: 95
  • Sustainability: 21
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 0.77; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.63; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 26.2%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 0% per year; rating input score 100; 14th percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 21st percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 20 of 20 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $545K · 30 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $151K reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 20 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 22/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.