gmar board of directors · web view2020/01/16 · on the liability side, accounts payable were...
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GMAR BOARD OF DIRECTORSTHURSDAY, JANUARY 16, 2020 • 12:00 PM
MEETING AGENDA
1. Welcome & Introductions
2. Consent Agenda
3. Monica Baer, Baer Carlson
P 3 Approval
4. ReportsA. Chairman
B. Treasurer 1) November Financials 2) *2020 Budget
C. President
D. Departments 1) Government Affairs 2) Professional Standards
E. MLS
P 14P 17
P 18
Information
ApprovalApproval
Information
InformationApproval
Information
5 Min
15 Min
15 Min
10 Min15 Min
15 Min
5. Old Business A.None
6. New Business A. Welcome New Directors:
Courtney Stefaniak Mark Kivley Roger Rushman Sarah Cole
B. Executive Roundtable Appointee
7. Adjourn 10:30 AM
Next Directors Meeting: Thursday, March 19th at Fiserv Forum
* Indicates information will be available at the Directors meeting. Updated: 9/11/2023 4:42 PM
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Directors’ Policies
Fiduciary Duty
As a GMAR director, you are a fiduciary of GMAR. That means you have a special legal responsibility in connection with the administration, investment, and care of GMAR and its assets. This requires you to make careful, good-faith decisions in the best interest of GMAR. Your decisions must be made independently and free of any undue influence from any person, organization, or brokerage.
Conflict of Interest Policy
A member of any GMAR decision-making body has a conflict of interest whenever that member is a principal, partner, or corporate officer of a business providing, or being considered as a provider of, products or services to GMAR. Members with a conflict of interest must immediately disclose such conflict of interest prior to participating in any discussions or vote of a GMAR decision-making body that pertains to the GMAR. Such members may not participate in any discussions related to the GMAR other than to respond to questions asked of them by other members of the body. A member may not vote on any matter in which the member has a conflict of interest.
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GMAR BOARD OF DIRECTORSCONSENT AGENDA
1. It is moved, seconded and carried to approve the minutes of the Board of Directors meeting from November 21, 2019. p. 4
2. It is moved, seconded and carried to approve of the 141 new members who have applied to become members of the GMAR and paid the appropriate fees. p. 10
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GREATER MILWAUKEE ASSOCIATION OF REALTORS®BOARD OF DIRECTORS MEETING MINUTESTHURSDAY, NOVEMBER 21, 2019 • 11:30 AM
GMAR HEADQUARTERS
1. Call to Order Chairwoman Jean Dahl, called the meeting to order at 11:30 AM.A. Approve Agenda – Youth Foundation Board B. Financial Report to GMAR/Youth Foundation Boards - Jayme Heineck/Scott Hein, IAGC. New Business
1) Vice President’s Report (11:50-11:55)2) Budget Approval—Youth Foundation Board (11:55-Noon)3) Meeting Dates 2019: January 24; April 18; July 18; October 17
D. Other BusinessE. Adjourn
2. Call to OrderChairwoman Amy Curler called the GMAR Directors meeting to order at 12:00 PM with a quorum present for the transaction of business.
Present: Amy Curler, Chairwoman; Kel Svoboda, Chair-Elect; Courtney Stefaniak, Secretary/Treasurer; Tammy Maddente, Roger Rushman, Kathy Martello, Jeremy Rynders, Angela Walters, Gary Swittel, Kim Curtis, Judy Hearst
Staff Present: Mike Ruzicka, President; Scott Bush, VP Operations; Marne Stück, GAD; Chris Carrillo, Metro MLS
Excused: Vickie Kelsall, Past Chair; Joe Horning, Ted Dentice, Arthur Mays, Tom Sykora
Guest(s): Rachel Farina, Kevin Gardner, Mike Pflughoeft, all of Waterstreet Creative
3. Consent AgendaA. Approve the minutes of the Board of Directors meeting from July 9, 2019.
B. Approve of the 263 new members who have applied to become members of the GMAR and paid the appropriate fees.
C. Approve of adding ‘Fiduciary Duty’ and ‘Conflict of Interest Policy’ to the regular GMAR Directors agenda
M/S/C to approve Consent Agenda.
4. ReportsA. Chairwoman’s Report
Chairwoman, Amy Curler, stated that she was very happy to have served as the chairwoman for 2019 and thanked the directors for their support and guidance.
B. Treasurer’s Report1) Mike Ruzicka reported on the May 2019 GMAR financials:
Statement of Financial Position (Balance Sheet) – As of September 30, 2019, GMAR had $1,713,741 in Cash & Investment Balances, up $585,284 compared to last year. Accounts receivable were up $170,069 compared to last year primarily due to earlier entry of next year’s Home and Garden receivables. Prepaid expenses were down $127,595 compared to 2018 due to all inventory being written off.
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Fixed Assets decreased by $54,389. Total Assets were $3,676,662 which is up $573,369 compared to 2018.
On the Liability side, accounts payable were down $411,745 compared to last year due the mortgage being re-done and no longer being considered a short-term loan. Accrued vacation expenses were up $10,966. Overall, Total Liabilities were $1,106,215 which is up $296,386 compared to 2018.
GMAR has a Net Gain of $828,884 through September 30, 2019, up $481,594 from last year. Overall, Total Net Assets were $2,570,447; $276,983 higher than the same point in 2018.
Statement of ActivitiesMembership: Through September 2019, $1,820,486 was collected in dues. Last year through the end of September, we had collected $1,027,187 in dues so dues are $793,299 ahead of last year at the same time. The increase in dollars is due to the 2019 dues increase. GMAR had an 88% renewal based on number of members billed. 2019 new member budget: 500 REALTORS®, 50 DRs and 20 Affiliates. Through Sept, actual new members: 591 REALTORS®, 25 DRs and 11 Affiliates.
Promotions: Through September 30, Home and Garden Show income is $911,900 and expenses are $583,313 for a net income of $328,587. This may change slightly over the next few months but is close to final. Budgeted net income for the Show is $342,235.
Expenses related to Public Policy and Professional Standards are basically all personnel costs, incurring expenditures primarily in Labor and Overhead. The only significant expenses are several events and organization sponsorships.
Products (Wisconsin Real Estate Supply): The store was closed in September 2018. Some of the store products were for sale on consignment in 2018. All inventory was written off as of December 31, 2018.
The Leadership section includes expenditures for meetings, committees, officer expenses, strategic planning, NAR Home Buyer and Seller survey and NAR meetings. The main expenses recorded through September were memberships and expenses for the president, sponsorships, travel expenses for officers, the NAR buyers and sellers survey, and Milwaukee Bucks tickets.
The Administrative section includes investment and rental income and expenses for professional fees, salaries, fringe benefits, building, insurance, occupancy, property taxes, general office expenses and depreciation.
The bottom line shows Excess Receipts Over Expenditures of $828,884. Last year our net revenue was $347,290 for the same time period. By far the most significant reason for this change was the increase of dues, which will largely be offset throughout the year by monthly payments to SentriLock.
M/S/C to approve the unaudited Statement of Financial Position (Balance Sheet) and Statement of Activities as of September 30, 2019 and recommend placing on file for audit.
2) Mr. Ruzicka reported on the 2020 GMAR Preliminary Budget:
The 2020 budget was not completed, because there are a few items in the strategic plan to address which will impact the budget. If the budget is completed in the next few weeks, Mr. Ruzicka will send a copy to the full board for its review and ask the Executive Committee to vote on it.
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In the meantime, here is a rough draft of the key budget components:
The GMAR’s two main sources of revenue, accounting for 90% of GMAR revenue, are member dues and the Home & Garden Show (HGS).
Membership – In 2019 dues were raised from $207 to $380 (a $173 increase) in order to provide the SentriLock system to all members. Increasing dues, plus the cost of license renewal, drove a few members to decide to leave the business, but not nearly as many as the GMAR had thought might leave. This July, the Board set the dues at $350 for 2020.
In September, 4,660 members were billed. As of October 31st, 49% (2,299) of those members renewed. Leaving 2,361 left. Typically, we will have another 25% pay in November, and the remaining members renew in December (13%) and January (8%) or drop out.
If those averages hold true, there would be a renewal rate of 95% (4,442). Last year 349 people had their membership terminated in early January, losing access to all services.
Promotions – The Home & Garden Show (HGS) lost a day in 2018, because of Easter, but came roaring back in 2019. Our hope is that 2020 will be in the range of 2019 with net revenue of $230,000.
The budget will show $10,000 for the WRA Education Partnership. The GMAR receives 50% of the net revenue for in-person CE classes in the Milwaukee area. Revenue from our partnership relationship has been declining for years, because more members take CE online. In 2019, a non-license renewal year, we budgeted $5,000.
Professional Standards – For 2019, we budgeted $15,000 for a Habitat for Humanity sponsorship. We will budget for that again in 2020.
Public Policy – I don’t anticipate any significant change in the Public Policy budget for 2020.
Leadership – We are continuing to purchase an oversample of NAR’s Consumer survey for the MKE market, as well as Milwaukee Bucks’ tickets for the 2019-2020 season.
Administration – Most Administrative expenses are flat for 2020. Salaries and benefits are up due to the hiring of a full-time staff member and, of course, health insurance.
We will realize revenue from renting the 2nd floor of the REALTOR® Building to Bell Bank, however, I would like to place that revenue to a separate reserve account – rather than have it go into our general fund – to save it for remodeling the 1st.
5. President’s ReportMike Ruzicka reported the following in addition to his written memorandum to the Board of Directors:
GMAR Strategic Plan – Attached to the Directors Report email was a draft of our strategic plan. Mr. Ruzicka took the results of the focus groups held last summer, the strategic thinking meeting hosted by Jerry Matthews, and summarized the goals of the members’ input from those meetings in one document.
Mr. Ruzicka stated that he thinks it does a good job of collecting the myriad points that were made on several topics during those meetings. The plan focuses on 3 core goals: Code of Ethics, REALTOR® Value, and Public Policy.
Additionally, he added 2 areas of strategic focus; Professionalism and Homeownership. These are areas for future growth for the association. The BOD may not currently have specific tasks
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within either realm, but they are essential to the future existence of the real estate industry and the association.
More discussion is needed on the strategy for these two areas. Once the GMAR has accomplished the goals in the first three areas, what’s next? In 3-5 years, what do the BODs see REALTOR® Professionalism as? Homeownership is equally broad. The GMAR can create a campaign to accomplish several goals related to homeownership. Increase the rate of owner-occupied dwellings, increase new construction, etc.
There was a great deal of discussion at the strategic planning meeting on conducting a local public relations campaign surrounding NAR’s “That Who We “R” program. Mr. Ruzicka I’ve invited Water Street Creative, the same firm that does PR for the Home & Garden Show, to present a plan they’ve developed to reinforce NAR’s messaging.
Rachel Farina, Kevin Gardner, and Mike Pflughoeft, for Waterstreet Creative, presented their plan for conducting a public relations campaign to augment the NAR “That’s Who We “R” cause. The plan was very comprehensive, and Mr. Ruzicka stated that the GMAR would probably have to reduce the cost and prioritize the various vehicles Waterstreet wishes to utilize in the campaign.
Housing Statistics Task Force – Mr. Ruzicka state that he would like to host a special task force to examine how we can better use the housing and REALTOR® statistics that the GMAR and MLS accumulate.
Currently, the GMAR creates a monthly report based on the housing statistics MLS provides, that is widely referenced in local media. The Association has also created various statistical reports based on the National trends Indicator Report (NTIR) that MLS also produces, as well as from requests by local media.
Mr. Ruzicka would like to figure out what additional reports the GMAR could produce that could be used by the media to promote REALTORS® and organized real estate as “go to” resources for housing related information.
2019 GMAR Board of Directors Election – The 2019 Board of Directors election ran October 13th – 19th. All eligible REALTOR® members of the Association were emailed ballots on October 13th. Those receiving the most ballots were: Courtney Stefaniak, Mark Kivley, Roger Rushman, and Sarah Cole. Each will be eligible to serve one, three-year term beginning in January 2020 and ending in December 2022.
Milwaukee County Sales Tax Referendum – The GMAR Public Policy Task Force voted to support a Milwaukee County sales tax referendum. The proposal, that needs approval by the state legislature, would place a binding referendum in front of residents to raise the Milwaukee County sales tax by one percent in April.
Included with the Directors Report email is an MMAC memo on the referendum prepared by Steve Baas, Senior VP, Governmental Affairs & Public Policy, for the MMAC Board of Directors.
Passage of the referendum would further the GMAR’s goal of reducing the burden on property owners for paying for local government. However, given the poisoned nature of politics in Madison, passage of necessary enabling legislation is far from likely in the current session.
SentriLock Update – The staff has run into a significant problem with SentriLock for a few brokers. Starting in early October a handful of brokers and agents have been unable to access properties, because they were getting an error code on their app or lockbox.
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The staff has been in constant contact with SentriLock and Amy Curler and Mr. Ruzicka met with their leadership team at the NAR Convention in San Francisco. They stressed that it was important to get this issue resolved because the people affected were very supportive of the GMAR brining SentriLock in, but their championing was waning each day this issue lingered.
Mr. Ruzicka reported that SentriLock informed the GMAR that they had found a glitch in the SentriLock app’s software that seemed to have been the culprit. They have made changes to the app and will be rolling it out as soon as possible.
Fiduciary Duty & Conflict of Interest – NAR includes a Director’s “Fiduciary Duty” and “Conflict of Interest” policies in their Board of Directors agenda. Mr. Ruzicka thought it would be a good reminder of a board member’s responsibility to the association that they serve and has added it to our Consent Agenda; and will add it to regular meeting agendas under Board of Directors Meeting Procedures.
6. DepartmentsA. Government Affairs
Marne Stuck reported: MPS Referendum – MPS is considering going to a referendum on the April 2020 ballot to
increase funding for its students. The final figures haven’t been announced yet, but early estimates will cause property taxes to spike. The GMAR Public Policy Task Force is scheduled to meet to discuss this issue in December.
Waukesha County Parks Strategic Plan – Waukesha County Dept. of Parks and Land Use will be updating their 3-year Strategic Plan and have asked GMAR to find several REALTORS who have worked with the County to be part of focus groups in January of 2020
B. Professional Standards Scott Bush reported the following: M/S/C to adopt decision E19-22 as presented, pending legal counsel review
7. MLSChris Carrillo, MLS CEO, was on hand to discuss: NAR 8.0 MLS Policy regarding “pocket listings”
8. Old BusinessA. None
9. New BusinessA. Youth Foundation Election
The only contested position was chair of the Education Committee. The GMAR Directors elected Dr. Gail Zieman to fill a one-year term.
B. GMAR 2020 Executive CommitteeKel Svoboda automatically ascends to the chairmanship of the GMAR, and Amy Curler becomes the Past Chair for 2020. An election was held for Chair-Elect and Secretary/Treasurer. Courtney Stefaniak was elected to the Chair-Elect post and Kim Curtis was selected to be the Secretary/Treasurer, by unanimous decision.
C. Farewell Outgoing DirectorsMrs. Curler bid farewell to the outgoing directors: Tammy Maddente Vickie Kelsall Tom Sykora
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10. AdjournThe meeting adjourned at 1:30 PM
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NEW MEMBER REPORT
141 New Members joined Nov 16, 2019 - Jan 8, 2020 for approval (DR's - 12, R's - 128, A's - 1)
FIRST LAST COMPANYDevin Arnold Badger Realty TeamCole Baltz Jason Scott Realty & Management LLCJasmine Barksdale Premier Point Realty LLCErick Barnes Powers Realty Group~ShorewoodNickie Bass The Stefaniak Group LLCTerrell Bell Coldwell Banker Residential Brokerage~OgdenGlen Blok Exit Realty XLErin Bodi Realty Executives Integrity~BrookfieldDawn Books Response, REALTORSNicole Borowski Homestead Realty Inc~MilwaukeeMelladolsha Bowers Coldwell Banker HomeSale Realty~ CorporateAlaina Breitenfeldt Realty Executives Integrity~NorthshoreMarena Bridges HPB Realty LLCAshley Brooks EXP Realty, LLC~WauwatosaPhilip Buetow Milwaukee Executive RealtyJanis Buetow Milwaukee Executive RealtyJennifer Buzzell List 4 Less MLS of WisconsinMichelle Campbell Coldwell Banker Residential Brokerage~BRKMaron Carroll Carroll Realty LLCAlex Chou Keller Williams Realty~Milw N Shore W BayTerri Clayton Coldwell Banker Residential Brokerage~N ShoreCynthia Cofer-Gallman Coldwell Banker HomeSale Realty~ CorporateKeith Corbett Coldwell Banker HomeSale Realty~FranklinCatherine Corrao Keller Williams Realty~Lake CountryStephen Covalt RE/MAX Realty 100~M FallsLinda Danielson Coldwell Banker EliteAlex Edwards Boardwalk Realty LLCGenevieve Erez First Weber Inc~NPWJames Favata Keller Williams Realty~Lake CountryKaren Flanigan First Weber Inc~DLFSarah Flannery Homestead Realty Inc~MilwaukeeAmanda Fleischman Shorewest, REALTORS~GraftonMichael Ford First Weber Inc~GreenfieldLisa-Marie Franco-Garcia EXP Realty, LLC~MilwJonathan Galando EXP Realty, LLC~MKEMelanie Gawronski Shorewest, REALTORS~OCMargaret Gehler Firefly Real EstateWilliam Gentil Grapevine RealtyBarbara Gewalt Homeowners Concept-MetrostarRashell Gladney Realty DynamicsTina Hammerstad HPB Realty LLC
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John Harder MyFamilyPCPShannon Harrigan First Weber Inc~MequonKeeosha Harrison Coldwell Banker Residential Brokerage~N ShoreShelina Harvey Keller Williams Realty~Milw N Shore W BayKatie Havlik First Weber Inc~West BendJohn Hayden Homegate Direct Realty LLCAlyssa Hergert Jock Team Real Estate LLCJane Herro Oconomowoc RealtyZachary Hicks EXP Realty, LLC~MKEReilly Hoffman Keller Williams Realty Milw SW~New BerlinTracy Holt RE/MAX Realty 100~M FallsShannon Hyatt First Weber Inc~MFLaRhonda Jacobson Milwaukee Cty Dept of Economic DevStephanie Jahn EXP Realty, LLC~KenoshaJessica Jaskie RE/MAX Realty 100~M FallsCarmen Jock Jock Team Real Estate LLCPervis Jones Wiley Realty GroupTimothy Kaminski Homestead Realty Inc~MilwaukeeBrenda Keene Keller Williams Realty Milw SW~GermantownJessica Keiley Bluebell RealtyBrandon Kim Coldwell Banker Residential Brokerage~MEQBradley Kligora First Weber Inc~DLFJoseph Knight Homestead Realty Inc~MilwaukeeLisa Komppa Shorewest, REALTORS~MNM FallsJohn Kroeger Shorewest, REALTORS~N OaklandLisa Krotts Erdmann Keller Williams Realty~Lake CountryMichael Krukowski Keller Williams Realty~Milw N Shore W BayRachel Lallensack HomeWire RealtyTrevin Larkin First Weber Inc~GreenfieldNicole LeClair Realty Executives Integrity~BrookfieldPeter Link EXP Realty, LLC~MKEWendy Lund First Weber Inc~DLFMichael Mangold DB Realty LLCKeara Martin Shorewest, REALTORS~New BerlinRobert McMurphy Steel Horse, REALTOR LLCCathy Megna Parkway RealtyElizabeth Mitscke Keller Williams Realty~Milw N Shore W BayLisa Mohindroo Premier Point Realty LLCRoyce Nash Shorewest, REALTORS~New BerlinZachary Nelson First Weber Inc~GreenfieldAshley Nguyen Cherry Home Realty LLCTasha Olson Realty Executives Elite~Hales CornersMark Oman First Weber Inc~DLFFrancesca Orlando Realty Executives Integrity~BrookfieldRoy Ornelas VERA Residential Real Estate LLCSusan Patti Realty Executives Connect
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Josiah Penniman Keller Williams Realty~Milw N Shore W BayAmy Petrus Tim O'Brien Homes IncDeborah Ramthun Keller Williams Fox CitiesMyesha Randolph VERA Residential Real Estate LLCAndrew Reichl Berkshire Hathaway HomeServices Metro RealtyPeter Reinert Keller Williams Realty~Milw N Shore W BayMaria Reis Hanson & Co Real EstateHaley Reynolds Realty Executives Integrity~HartlandSandi Rode Premier Point Realty LLCStephanie Rogers Shorewest, REALTORS~OCStephanie Ross Badger Realty TeamCarlos Roth Realty Among Friends LLCKatherine Rowland The Real Estate Center, A Wisconsin LLCTara Ruppelt Exit Realty XLThomas Sanders Shorewest, REALTORS~DowntownJennifer Schmitz First Weber Inc~WKSamantha Schneider Corcoran Realty & Co.Shelby Schneidervin RE/MAX InsightAnna Severance Coldwell Banker Resid Brokerage~West BendTyesha Shareef EXP Realty, LLC~WauwatosaBrian Sheehan RE/MAX Realty 100~BrookfieldSamuel Shepherd First Weber Inc~DLFDaniel Shovers Milwaukee Executive RealtyTina Smart First Weber Inc~GreenfieldMary Smith Firefly Real EstateMallory Smith Firefly Real EstateSarah Smith Smart Asset Realty IncTeral Sondrup Keller Williams Realty Milw SW~GermantownAntoinette Spencer EXP Realty, LLC~MKEAna St. Peter Premier Point Realty LLCCele Stepke North Shore Homes IncPatricia Sternhagen Moton Keller Williams Realty Milw SW~New BerlinVictoria Stewart EXP Realty, LLC~MKEMatthew Stong Keller Williams Realty~Milw N Shore W BayKendrick Taylor Keller Williams Realty~Milw N Shore W BaySean Tehan Lake Country Home Realty LLCMichelle Thompson Structure Properties LLCCharles Tindal Tim O'Brien Homes IncJose Torres Feliciano NextHome My WayPaul Veksler Coldwell Banker Residential Brokerage~MEQTim Vertz Homegate Direct Realty LLCJill Weink Benefit RealtyCandace Wenig Century 21 Affiliated~WauwatosaElise Werry MyPro Realty LLCSheena White The Coterie Realty GroupTravis Wiley Wiley Realty Group
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Matthew Winchester RE/MAX Service First LLCAlexander Wisnefske Land & Legacy Group LLCDana Witkowski Berkshire Hathaway HomeServices Metro RealtyAlexander Witte Premier Point Realty LLCJonathan Wolf Exit Realty XLDonna Woller Tim O'Brien Homes IncDavid Worden Smart Asset Realty IncTricia Zamecnik HomeWire Realty
Membership categories: DR = Designated REALTOR®, R = REALTOR®, RN = REALTOR® No National; A = Affiliate, AC = Affiliate Corporate, LAC = Local Affiliate Corporate, LACC = Local Affiliate Corporate Contact
*Includes former GMAR members who had to rejoin the GMAR as new members.
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NOVEMBER 2019 FINANCIAL NOTES
Statement of Financial PositionAs of November 30, 2019, GMAR had $2,538,124 in Cash & Investment Balances, up $242,927 compared to last year.
Accounts receivable were up $75,278 compared to last year primarily due to earlier entry of next year’s Home and Garden receivables. Prepaid expenses were down $91,151 compared to 2018 due to all inventory being written off.
Fixed Assets decreased by $58,327. Total Assets were $4,583,041 which is up $168,727 compared to 2018.
On the Liability side, accounts payable were down $439,385 compared to last year due the mortgage being re-done and no longer being considered a short-term loan. Unearned income is $33,713 lower. Accrued vacation expenses were up $10,966. Overall, Total Liabilities were $2,348,942 which is down $58,237 compared to 2018.
GMAR has a Net Gain of $487,536 through November 30, 2019, up $426,575 from last year. Overall, Total Net Assets were $2,234,099; $226,964 higher than the same point in 2018.
Statement of ActivitiesMembership: Through November 2019, $1,846,671 was collected in dues. Last year through the end of November we had collected $1,050,508 in dues, so dues are $796,162 ahead of last year at the same time. The increase in dollars is due to the 2019 dues increase. GMAR had an 88% renewal based on number of members billed. New member budget for 2019: 500 REALTORS®, 50 DRs and 20 Affiliates. Through November, actual new members: 682 REALTORS®, 32 DRs and 15 Affiliates.
Promotions: Through November 30, Home and Garden Show income is $911,455 and expenses are $583,513 for a net income of $327,942. These are likely final numbers, though a few small changes are always possible. Budgeted net income for the Show is $342,235.
Expenses related to Public Policy and Professional Standards are basically all personnel costs, incurring expenditures primarily in Labor and Overhead. The only significant expenses are several events and organization sponsorships.
The Leadership section includes expenditures for meetings, committees, officer expenses, strategic planning, NAR Home Buyer and Seller survey and NAR meetings. The main expenses recorded through November were memberships and expenses for the president, sponsorships, travel expenses for officers, the NAR buyers and sellers survey, and Milwaukee Bucks tickets.
The Administrative section includes investment and rental income and expenses for professional fees, salaries, fringe benefits, building, insurance, occupancy, property taxes, general office expenses and depreciation.
The bottom line shows Excess Receipts Over Expenditures of $487,536. Last year our net revenue was $60,960 for the same time period. By far the most significant reason for this change was the increase of dues, which will largely be offset throughout the year by monthly payments to SentriLock.
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STATEMENT OF FINANCIAL POSITION (BALANCE SHEET)
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November 30, November 30,2019 2018 $ Change % Change
Assets:Cash 378,469.96 459,009.67 (80,539.71) -17.5%Investments-BMO 240,899.57 194,299.97 46,599.60 24.0%Bankers' Acceptance/ICS Investment 1,918,754.77 1,616,799.97 301,954.80 18.7%Money Market 0.00 25,087.97 (25,087.97) 0.0%Accounts Receivable 236,264.73 160,986.84 75,277.89 46.8%Prepaid Expenses 55,096.37 146,247.02 (91,150.65) -62.3% Total Current Assets 2,829,485.40 2,602,431.44 227,053.96 8.7%
Fixed Assets (Net of A/D) 796,307.69 854,634.96 (58,327.27) -6.8%MLS Investment 957,248.29 957,248.29 0.00 0.0%
Total Assets 4,583,041.38 4,414,314.69 168,726.69 3.8%
Liabilities and Fund Balance:Liabilities:Accounts Payable 324,544.83 763,929.71 (439,384.88) -57.5%Unearned Revenue 1,547,960.00 1,581,673.00 (33,713.00) 0.0%Accrued Expenses 75,659.54 61,576.56 14,082.98 22.9%Mortgage-Long Term Liability 400,777.68 0.00 400,777.68 0.0% Total Liabilities 2,348,942.05 2,407,179.27 (58,237.22) -2.4%
Net Assets:Net Assets 1,481,712.79 1,725,423.79 (243,711.00) -14.1%General Reserves - 3% Dues 27,500.00 0.00 27,500.00 0.0%Board Designated Reserve Fund 227,350.81 210,751.21 16,599.60 7.9%Board Designated H&G Reserve 10,000.00 10,000.00 0.00 0.0%Net Revenue (Expense) 487,535.73 60,960.42 426,575.31 699.8% Total Net Assets 2,234,099.33 2,007,135.42 226,963.91 11.3%
Total Liabilities and Net Assets 4,583,041.38 4,414,314.69 168,726.69 3.8%
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STATEMENT OF ACTIVITIES
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Current Year Previous Year Current Year11 Months 11 Months Revised 2019 Current Year Current Year
Ending 11/30/19 Ending 11/30/18 Annual $ Over (Under) % ofActual Actual Budget Budget Budget
Receipts:Dues 1,846,670.50 1,050,508.25 1,780,502.00 66,168.50 103.7%Member Outings 115,210.00 110,422.00 103,660.00 11,550.00 111.1%Member Services 356.51 0.00 2,000.00 (1,643.49) 17.8%Young Prof Network 5,250.00 6,750.00 0.00 5,250.00 0.0%New Member Orientation 50.00 175.00 0.00 50.00 0.0%Kettle Moraine 875.00 650.00 830.00 45.00 0.0%Home and Garden Show 911,454.50 885,745.83 915,200.00 (3,745.50) 99.6%Other Shows 0.00 850.00 750.00 (750.00) 0.0%Education 13,372.67 10,661.79 5,000.00 8,372.67 267.5%Youth Foundation 11,916.63 11,916.63 13,000.00 (1,083.37) 91.7%Public Policy 1,250.00 1,250.00 1,250.00 0.00 100.0%NAR Grant 1,500.00 0.00 0.00 1,500.00 0.0%Wisconsin Real Estate Supply 19.99 4,564.06 0.00 19.99 0.0%Professional Standards 17,350.00 11,100.00 23,000.00 (5,650.00) 75.4%Interest 6,685.65 7,666.59 0.00 6,685.65 0.0%Realized Gain (Loss) * 695.27 22,898.17 0.00 695.27 0.0%Unrealized Gain (Loss) * 20,719.35 (33,853.76) 0.00 20,719.35 0.0%Administrative 37,892.51 33,386.12 57,154.00 (19,261.49) 66.3%
Total Receipts 2,991,268.58 2,124,690.68 2,902,346.00 88,922.58 103.1%
Expenditures:Dues 65,073.03 66,451.67 74,244.00 (9,170.97) 87.6%Member Outings 164,334.44 139,587.32 111,459.00 52,875.44 147.4%Member Services 396,456.30 87,676.67 457,434.00 (60,977.70) 86.7%Young Prof Network 4,078.60 3,379.62 3,000.00 1,078.60 136.0%New Member Orientation 9,530.06 13,687.16 14,550.00 (5,019.94) 65.5%Membership Department 876.03 1,251.05 1,800.00 (923.97) 48.7%Kettle Moraine 8,505.45 7,814.41 8,900.00 (394.55) 95.6%Home and Garden Show 583,512.90 602,022.16 572,965.00 10,547.90 101.8%Other Shows 0.00 47.00 300.00 (300.00) 0.0%Education 1,776.49 0.09 0.00 1,776.49 0.0%Youth Foundation 157.75 190.47 300.00 (142.25) 52.6%Public Policy 9,433.09 18,788.37 29,385.00 (19,951.91) 32.1%NAR Grant 1,500.00 0.00 0.00 1,500.00 0.0%Wisconsin Real Estate Supply 8.06 4,893.65 0.00 8.06 0.0%Professional Standards 22,738.83 38,172.48 25,460.00 (2,721.17) 89.3%National Meetings 58,713.44 29,108.88 62,000.00 (3,286.56) 94.7%Offi cer Expenses 26,483.95 46,889.54 50,700.00 (24,216.05) 52.2%Meetings 3,762.59 8,956.79 8,725.00 (4,962.41) 43.1%Committees 37,889.13 8,438.92 24,125.00 13,764.13 157.1%Leadership Department 37,952.26 27,956.84 34,700.00 3,252.26 109.4%Direct Wages/Fixed OH/Variable OH 679,573.91 656,952.44 1,081,969.00 (402,395.09) 62.8%
Administrative 1,070,950.45 958,417.17 1,196,297.00 (125,346.55) 89.5%Direct Wage,Fixed/Variable OH Alloc (679,573.91) (656,952.44) (1,081,969.00) 402,395.09 62.8%
Total Expenditures 2,503,732.85 2,063,730.26 2,676,344.00 (172,611.15) 93.6%
Net Income (Expense) - Per Audit 487,535.73 60,960.42 226,002.00 261,533.73 215.7%
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2020 GMAR BUDGET NOTES
The GMAR’s two main sources of revenue, accounting for 90% of GMAR revenue, are member dues and the Home & Garden Show (HGS).
Membership – We reduced dues for 2020 from $380, in 2019, to $350. In September 2019, we billed 4,771 members. As of December 31st, 82% (3,927) of those members renewed. Leaving 844 who did not renew. Typically, over the last 3 years we’ve averaged 324 renewals in January.
If those averages hold true, we will have a renewal rate of 89% (4,251). Last year 548 people had their membership terminated in early January, losing access to all services.
On the expenditure side of Membership is our Public Awareness Campaign. We have budgeted a total of $75,000 for 2020.
SentriLock is a relatively new budget item for us and in 2020 we are budgeting $450,000, compared to $432,600 in 2019. Our monthly average expense in 2019 was $42,682.
Promotions – The Home & Garden Show (HGS) lost a day in 2018, because of Easter, but came roaring back in 2019. Our hope is that 2020 will be in the range of 2019 with net revenue of $230,000.
The budget will show $5,000 for the WRA Education Partnership. The GMAR receives 50% of the net revenue for in-person CE classes in the Milwaukee area. Revenue from our partnership relationship has been declining for years, because more members take CE online.
Professional Standards – For 2019, we budgeted $15,000 for a Habitat for Humanity sponsorship. We will budget for that again in 2020.
Public Policy – We don’t anticipate any significant change in the Public Policy budget for 2020, although we do plan to petition NAR for a few grants to fund various projects.
Leadership – We are continuing to purchase an oversample of NAR’s Consumer survey for the MKE market, as well as Milwaukee Bucks’ tickets for the 2020-2021 season. Leadership travel expenses (i.e. NAR, Inman, Real Trends, etc.) are up from 2019 due to more events we plan to attend.
Administration – Administrative expenses are up for 2020. Salaries and benefits are up due to the hiring two full-time staff members compared to the 2019 budget, and, of course, health insurance. We will realize revenue from renting the 2nd floor of the REALTOR® Building from Bell Bank.
The bottom line shows a net number of ($65,000).
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MEMORANDUM
TO: GMAR BOARD OF DIRECTORS
FROM: MIKE RUZIICKA, PRESIDENT
RE: JANUARY PRESIDENT’S REPORT
2020 GMAR BudgetPlease review the 2020 Budget Notes above. I will have a copy of the final budget at the Directors meeting after reviewing it with Stephanie Larson, from WRA.
You will see the bottom line is a negative net number. However, there is a lot going on budgetarily that makes me fairly comfortable starting the year out in the red and revising the budget once we have more certainty about our revenue and expenses.
When we set the budget for membership income and the HGS, we don’t figure out the revenue that we need to cover our expenses. I look at our anticipated expenses, put them in the budget, then ask those responsible for estimating our membership and HGS revenue for their numbers. We always budget expenses liberally and income conservatively.
Luckily, with a red-hot economy we are seeing new members come in at a very healthy pace. We budgeted 500 new members for 2020, the same as in 2019. In 2019 we ended up with 680 new members. The strong economy is also showing up in HGS booth sales. Amanda Falk and Karen Brienzo are looking at ways to fit more booths into the State Fair Expo Center, because demand is so high right now (booth sales account for 80% of HGS revenue).
With 90% of GMAR revenue coming from these two revenue sources, I feel confident that we will see more revenue than budgeted for. Also, there is precedent for starting the year out in the red, we have done it several times in the early 20-teen years.
We will have to watch our expenses, however, but that is not really anything new.
GMAR Strategic PlanWe have spent a lot of our time in recent weeks working on the public awareness campaign component of the strategic plan, focusing on how to leverage the “That’s Who We R” drive.
I have asked Waterstreet Creative to come up with a $50,000 effort that focuses on younger buyers, primarily utilizing social media (which is where younger buyers are) and possibly some radio and/or outdoor advertising.
My primary reasoning for pushing our message on social media is that during the height of the selling season, there will be a lot of competition for bandwidth due to the spring election and upcoming DNC event.
Our public awareness campaign is going to be a multi-year effort, so starting out with a smaller campaign, that is focused on people actually searching for housing is not a bad way to start.
Another component of the public awareness campaign is gaining TV/radio/newspaper attention from unique housing stories and statistics.
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As we did last year, I have asked Monica Baer to join us at the beginning of our Directors meeting to think creatively about news stories we can promote in 2020.
Also, The January 9th GMAR newsletter featured an announcement of the Housing Statistics Task Force. I was encouraged to get several emails from members asking to be included almost immediately.
The task force will examine how we can better use the housing and REALTOR® statistics that we, and MLS, accumulate to promote the “That’s Who We R” campaign and assure organized is the “go to” resources for housing related information.
Mandating SentriLock use vs. The COEWe visited this issue last July, but I want to bring it back to the Board and ask that we set a policy on giving out one-day codes.
Some members who are not in support of the SentriLock program have requested one-day codes from listing brokers, which is time consuming. When the listing brokers deny a request for one-day codes the ethical standard of requiring members to use the SentriLock system and not giving out one-day codes has come into question.
Here is what the GMAR staff has been telling members:
The GMAR encourages listing brokers to give out one-day codes to other GMAR members, REALTORS® from other associations and other real estate professionals. Arguably, that may be in the best interest of the seller.
However, if the listing broker, following the directive of the seller, does not want to give out a one-day code to another GMAR member unless they are “credentialed,” they have a right to do so. The GMAR does not consider “credentialing” to be an unreasonable process and not a barrier to gain access to a listed property.
If the listing broker will not provide a one-day code and the showing broker is not a GMAR member, but still a REALTOR® (such as a member of the commercial association, CARW), the GMAR will allow that REALTOR® to pay the SentriLock fee without becoming a member of the GMAR.
Emeritus PolicyYou may know that those who have been REALTORS® for 40 years, or longer, may be eligible for “Emeritus” status, which has meant they are exempt from paying dues. The emeritus policy is an NAR creation that most state and local associations, including the GMAR, also adopted.
A few years ago, NAR changed the eligibility requirements so that Emeritus members had to belong for 40 years and have served on an NAR committee at some point. A major reason for the change to NAR’s Emeritus policy was that so many Baby Boomers were reaching 40 years of membership, NAR was losing hundreds of thousands of dues dollars.
We have had members who are not eligible for NAR Emeritus status (required to continue paying NAR dues), ask if they can be exempt from paying GMAR dues. WRA has adopted NAR’s policy.
I would like to ask that the GMAR adopt NAR’s (and WRA’s) policy that a member must have 40 years of membership and have served on an NAR committee at some point. Thus, the GMAR would
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not have its own emeritus policy, but would follow NAR’s policy and exempt a member from paying GMAR dues, if they are eligible for NAR’s exemption.
Recurring Status Reports
GMAR Member Involvement P 21
MLS Membership P 22
GMAR Organizational Chart P 23
2020 GMAR Directors Roster P 24
2020 GMAR Calendar P 25
GMAR Strategic Plan P 27
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GMAR MEMBER INVOLVEMENT
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2011 2012 2013 2014 2015 2016 2017 2018 2019 2020Membership 3,301 3,469 3,725 3,625 3,905 4,225 4,563 4,357 4,798 4,367Business/Transaction
Tech Forum 118 84 131 102Tax Strategies 98 80
FICO Scoring 79Brown Bag Sessions 387 225 388 235 93 14
ShredFest 177 190 213 208 224 154 281 275 280Genius Bar 25
Action Recyling 15 12REALTOR Summit 113 100 79 72
Open Houses889 611 757 722 469 168 281 275 280 0
27% 18% 20% 20% 12% 4% 6% 6% 6% 0%Personal
Health Screening 15Self Defense/Concealed Carry 60 75
Common Ground 36Safety 24
0 15 36 0 24 60 0 0 75 00% 0% 1% 0% 1% 1% 0% 0% 2% 0%
SocialBrewers Tailgate 150 191 36? 214 260 250 176 260 260
Golf Outing 163 164 195 223 228 190 192 200KM Council Golf Outing/Wine Event 71 59 84 150 202
KM Council Mardi Gras 90 71 70 65WomenStrong 200 241
Tiki Party 85Holiday Party 283 405 496 440 611 729 724 649 664OctoberFest
596 760 691 1033 1158 1343 971 1521 1632 018% 22% 19% 28% 30% 32% 21% 35% 34% 0%
Home & Garden ShowREALTOR Night @ HGS 211 190 156 251 156 150 164 249 222
REALTOR Reps 45 39 64 32 41 16 22 11 15VIP Tickets 470 449 455 475 493 485 488 562 507
726 678 675 758 690 651 674 822 744 022% 20% 18% 21% 18% 15% 15% 19% 16% 0%
TOTAL 2211 2064 2159 2513 2341 2222 1926 2618 2731 067% 59% 58% 69% 60% 53% 42% 60% 57% 0%
New Member Orientation 189 234 387 395 405 412 487 564 548 40
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MLS MEMBERSHIP STATISTICS
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GMAR ORGANIZATIONAL CHART
23
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2020 GMAR BOARD OF DIRECTORS
Terms expiring12/31/2020
Terms expiring12/31/2021
Terms expiring12/31/2022
Kathy MartelloRE/MAX Realty 10010303 W Oklahoma AvenueMilwaukee, WI 53227O 262.255.9200 M [email protected] NRDS: 090031322
(3yr term from Exec Roundtable)
Joe HorningShorewest, Realtors17450 W. North Ave.Brookfield, WI 53045-4337O 262.827.4200 [email protected]: 090096259
(3yr term from Exec Roundtable)
Maureen StalléKeller Williams205 E Silver Spring DriveWhitefish Bay, WI 53217O 414.967.7900 M [email protected] NRDS:
(3yr term from Exec Roundtable)
Amy Curler, Past ChairFirst Weber Inc (2nd Term)1720 Clarence CourtWest Bend, WI 53095-8543O 262.335.6280 M [email protected] NRDS: 090019647
Ted DenticeShorewest, Realtors (2nd Term)17450 W. North Ave.Brookfield, WI 53045-4337P 262.827.4200 M [email protected] NRDS: 090017283
Courtney Stefaniak, Chair-ElectThe Stefaniak Group (2nd Term)2234 S 108th StMilwaukee, WI 53227-1108M [email protected] NRDS: 090113039
Arthur MaysRealty Among Friends (2nd Term) 8301 W Lisbon AveMilwaukee, WI 53222-3859O 414.444.2696 M [email protected] NRDS: 090051977
Kim Curtis, Secretary/TreasurerShorewest, Realtors (1st Term)2419 W. Washington St.West Bend, WI 53095M [email protected] NRDS: 090060874
Roger RushmanFirst Weber Inc. (2nd Term)2750 Golf Rd, Suite ADelafield, WI 53018-2063O 262.646.6800 M 414.333.5313 [email protected] NRDS: 090015540
Jeremy Rynders (1st Term)Keller Williams Realty2665 S Moorland Rd, Suite 104New Berlin, WI 53151M [email protected] NRDS: 090118704
Angela Walters (1st Term)EXP Realty, LLC~MKE342 N Water St Ste 600Milwaukee, WI 53202-5715M [email protected]: 090094348
Mark Kivley (1st Term)RE/MAX Lakeside 1200 E Capitol Dr Ste 200Milwaukee, WI 53211M 414.406.1840 [email protected] NRDS: 090020696
Gary Swittel (1st Term) RE/MAX Realty 10010303 W Oklahoma AvenueMilwaukee, WI 53227M [email protected] NRDS: 090031694
Judy Hearst (1st Term)Coldwell Banker Residential Brkrge11303 N Port Washington RdMequon, WI 53092-3411M [email protected] NRDS: 090045822
Sarah Cole (1st Term) Landmark Realty 3800 S 97th StMilwaukee, WI 53228 M [email protected] NRDS: 090128495
Kel Svoboda, ChairmanFirst Weber Inc. (2nd Term)4650 N Port Washington RdGlendale, WI 53212-1077O 414.962-3000 M [email protected] NRDS: 090098433
Mike – 885500353Marne – 090082562Scott – 885500171
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2020 GMAR MEETINGS & EVENTS CALENDARUpdate: September 11, 2023
January1 GMAR Fiscal Year begins8 GMAR Orientation 9 GMAR Executive Committee Meeting/Conference Call 16 GMAR Board of Directors Meeting – 12:00 Noon, GMAR Headquarters 23-24 WRA Board of Directors Meeting – Madison, WI24 GMAR Youth Foundation Board Meeting – GMAR28-31 Inman Connect New York 2020
February5 REALTOR® & Government Day – Madison, WI 6 MLS BOD Meeting – Crowne Plaza Hotel, Wauwatosa10 GMAR Audit – Wegner & Assoc.12 GMAR Orientation 20 Kettle Moraine Council Mardi Gras – The Hitchin’ Post, West Bend
March4 WomenStrong GMAR Women’s Conference – Italian Community Center 11 GMAR Orientation 12 GMAR Executive Committee Meeting/Conference Call 19 GMAR Board of Directors Meeting – 3:00 PM, Fiserv Forum – Followed by Bucks game20-29 96th REALTORS® Home & Garden Show – Wisconsin Expo Ctr, West Allis, WI23 Marquette Univ & GMAR/WRA Economic Summit – Italian Community Center
April8 GMAR Orientation 16 GMAR Youth Foundation Board Meeting – GMAR29 Brewers Bash – Miller Park, Milwaukee, WI29-5/1 Real Trends: Gathering of Eagles, Denver, CO30 GMAR Executive Committee Meeting/Conference Call
May6 GMAR Orientation 7 MLS BOD Meeting – TBA 7 GMAR Board of Directors Meeting – 12:00 Noon, GMAR Headquarters8 WRA Board of Directors Meeting – WRA Headquarters, Madison, WI8 Deadline for 2020 NAR Committee Applications11-16 NAR REALTORS® Legislative Meetings – Washington, D.C.
June3 GMAR Orientation 6 Downtown Diggs11-12 WRA AE Conference – Arbor Vitae, WI30 GMAR Executive Committee Meeting/Conference Call
July1 GMAR BOD Candidate Applications available to members
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7 GMAR Board of Directors Mtg – Ironwood Golf Course7 GMAR Summer Golf Outing – Ironwood Golf Course15 GMAR Orientation 16 GMAR Youth Foundation Board Meeting – GMAR28-31 Inman Connect Las Vegas 2020
August5 GMAR Orientation 6-7 WRA BOD Meeting – .17-18 NAR Leadership Summit – Chicago, IL (Chair-Elect)TBA GMAR Nominating Committee Meeting – GMAR Headquarters31 Last day for GMAR BOD Candidates to submit Applications
September1 Nominating Committee notification of BOD Candidates to membership2 GMAR Orientation 3 MLS BOD Meeting – TBA 3 2019 WRA Leadership Summit – WRA TBA Kettle Moraine Council Wine Tasting Event14-15 WRA Convention – Wisconsin Dells, WI 10 GMAR Executive Committee Meeting/Conference Call 17 GMAR Board of Directors Meeting – 12:00 Noon, GMAR Headquarters23-25 CMLS Annual Conference 30 GMAR Board of Directors Write-In Candidate Deadline
October7 GMAR Orientation11-17 GMAR Board of Directors e-Election15 GMAR Youth Foundation Board Meeting 29 GMAR Executive Committee Meeting/Conference Call
November 4 GMAR Orientation 5 GMAR Youth Foundation Annual Meeting – 11:30 AM, GMAR Headquarters5 GMAR Board of Directors Meeting – 12:00 Noon, GMAR Headquarters11-16 NAR Convention – New Orleans, LA
December2 GMAR Orientation2 or 3 Chairwoman’s Holiday Party & GMAR Annual Mtg TBA WRA Management Conference – TBA31 GMAR Fiscal Year ends
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