Retail Brokers Network Inc

Nonprofit profile at a glance

EIN
204437142
IRS 990 coverage
2019–2025
Forms available
Form 990 2025, Form 990-EZ 2018
Location
New Castle, DE, USA
Phone
9047165222
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$667,620
Expenses
$707,237
Assets
$329,945
Liabilities
$142,500

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Tricia Law (Executive Director former)
  • Stanton Hudmon (President)
  • Beth Patterson (President Elect)
  • Keith Sturm (Vice President of Operations)
  • Thomas Treder (Vice President of Marketing and Communication)
  • Daniel Dori (The Vice President of Finance-Treasurer)

Highest reported compensation

  • Tricia Law (Executive Director former): $24,050 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Founded in 1992, the Retail Brokers Network, RBN, is a retail networking group whose members work together on a regional, national, and even the international level in all areas of commercial real estate including tenant representation, investment sales, and project leasing.

What it reported doing in 2025

INDUSTRY EVENT MEETINGS The Retail Brokers Network RBN provides resources and co-located events to members at large industry conventions. The resources provided, such as meeting space, enable members to interact, learn, and create meaningful connections with other members and industry contacts. These events are focused on providing opportuntities to fulfill our mission of connecting like-minded brokers who want to share information, refer business, build lifelong relationships and be more successful. REGIONAL RETREATS The Retail Brokers Network RBN hosted two regional meetings in 2025 that provided learning opporunities to members by showcasing different cities around the country and their unique retail real estate environments. These retreats also included presentations from industry expects on topics related to the real estate industry. The purpose of the meetings is to build knowledge about the industry and strengthen our RBN relationships, while discussing recent trends/developments.

Operating model

Revenue model
Membership-supported. 80% 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: 68
  • Transparency & Controls: 66
  • Accountability: 74
  • Sustainability: 23
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.3%; rating input score 78
  • Program expense ratio: 73.5%; rating input score 74
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 64th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -5.9%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 0.47; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 3.4%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: 21.5% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 20.1% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 18.8% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 78.3% of revenue deployed · 73.5% of spending went to programs
  • Governance: 20 of 20 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $520K in reported program spending
  • Leadership: top reported pay $24K · 9 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $317K reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 7 filing years from 2019 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 18/100.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • Review — Sustainability: Officer compensation ratio scored 53/100.