Hamptons Real Estate Assoc Inc
Nonprofit profile at a glance
- EIN
- 841922314
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024
- Location
- Southampton, NY, USA
- Phone
- 6315662953
- Rating
- 74
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Chambers of Commerce & Business Leagues
Reported finances
- Revenue
- $237,861
- Expenses
- $239,388
- Assets
- $51,609
- Liabilities
- $37,600
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- NANETTE HANSEN (PRESIDENT)
People named in this filing
- ROBERT NELSON (TREASURER)
- NANETTE HANSEN (PRESIDENT)
- JOE FUER (VICE PRESIDE)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Our mission is to operate as a premier real estate trade association in the hamptons, long island, New York, and nearby communities. We aim to facilitate the seamless sharing of listings for the sale and rental of residential properties among our participants. Through fostering collaboration and innovation, we strive to enhance the real estate market in our region, ensuring transparency, accessibility, and growth for all members and the communities we serve.
What it reported doing in 2024
Real estate listing sharing platform
Operating model
- Revenue model
- Membership-supported. 100% of the money available for current operations came from membership dues.
- 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
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 82
- Transparency & Controls: 90
- Accountability: 64
- Sustainability: 30
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 92.3%; rating input score 92
- Program expense ratio: 91.7%; rating input score 92
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 1 of 7 controls in place; rating input score 14
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -0.6%; rating input score 37; 37th percentile among comparable filings
- Total-asset coverage ratio: 0.22; rating input score 12; 12th percentile among comparable filings
- Liabilities to assets ratio: 0.73; rating input score 8; 8th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 92.3% of revenue deployed · 91.7% of spending went to programs
- Governance: 9 of 9 board members independent · 1 of 7 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $0 · 9 people listed
- Consistency: 15 of 15 current checks pass
- Schedules: 1 filed schedules
- Contacts: How to reach this organization
- 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 — Accountability: Governance controls: 5 of 6 not reported.
- Moderate — Sustainability: Operating margin scored 37/100.
- High — Sustainability: Total-asset coverage ratio scored 12/100.
- High — Sustainability: Liabilities to assets ratio scored 8/100.