· web view2021. 1. 21. · as a gmar director, you are a fiduciary of gmar. that means you have...

GMAR Board Of Directors

Thursday, January 21, 2021 • 12:00 PM

Meeting via Zoom

Meeting Agenda

1. Welcome & Introductions

2. Swearing-In

3. Consent Agenda

P 3

Approval

10 Min

4. Reports

A. Chairwoman

B. Treasurer

1) 2021 Budget

2) November 30, 2020 Financials

3) 2020 YTD Analysis

C. President

D. Departments

1) HGS

2) Government Affairs

3) Professional Standards

a) Policy Adoption

E. Metro MLS, Inc. Update

P 15

P 23

Information

Information

Approval

Information

Information

Information

Information

Approval

5 Min

15 Min

15 Min

5 Min

15 Min

15 Min

15 Min

5. Old Business

A. None

6. New Business A. None

7. Adjourn

2:00 PM

Next Directors Meeting: Thursday, March 18th

* Indicates information will be available at the Directors meeting.Updated: 1/15/2021 11:15 AM

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.

GMAR Board Of DirectorsConsent Agenda

1. It is moved, seconded, and carried to approve the minutes of the Board of Directors meeting from November 5, 2020.p. 4

2. It is moved, seconded, and carried to approve of the 228 new members who have applied to become members of the GMAR and paid the appropriate fees.p. 9

GREATER MILWAUKEE ASSOCIATION OF REALTORS®

BOARD OF DIRECTORS MEETING MINUTES

Thursday, November 5, 2020 • 12:00 Noon

Meeting Via Zoom

1. Call to Order

Chairman Kel Svoboda called the GMAR Directors meeting to order at 12:00 PM with a quorum present for the transaction of business.

Present: Kel Svoboda, Chair; Amy Curler, Past-Chair; Courtney Stefaniak, Chair-Elect; Kim Curtis, Secretary/Treasurer; Angela Walters, Maureen Stallé, Arthur Mays, Jeremy Rynders, Gary Swittel, Joe Horning, Ted Dentice, Judy Hearst, Mark Kivley, Sarah Cole

Staff Present: Mike Ruzicka, President; Scott Bush, VP Operations; Marne Stück, Michelle Kohn, Membership Director; Chris Carrillo, CEO, Metro MLS

Excused: Kathy Martello, Roger Rushman

2. Guest Presentation

Joe Murray, WRA Director of Political & Governmental Affairs, gave a presentation on the results of the 2020 fall election, and its impact on the WRA’s legislative agenda.

3. Consent Agenda

A. Approve the minutes of the Board of Directors meeting from September 17, 2020.

B. Approve of the 128 new members who have applied to become members of the GMAR and paid the appropriate fees.

M/S/C to approve Consent Agenda.

4. Reports

A. Chairman’s Report

Mr. Svoboda took a quick poll of market/business conditions, with virtually all directors saying they were very busy, and business was good.

B. Treasurer’s Report

1) Mike Ruzicka reviewed the July 31, 2020 GMAR financials.

Statement of Financial Position - As of September 30, 2020, GMAR had $1,298,511 in Cash & Investment Balances, down $415,229 compared to last year.

Accounts receivable were down $76,280 compared to last year. Prepaid expenses were up $262,609 compared to 2019 primarily due to the State Fair Park fees for the 2020 Home and Garden Show being credited to cover the 2021 Show. Fixed Assets increased by $50,313.

Total Assets were $3,498,075 which is down $178,587 compared to 2019.

On the Liability side, accounts payable were up $9,305 compared to last year. Accrued vacation expenses were up $741. Unearned revenue is up $46,097. Overall, Total Liabilities were $1,149,224 which is up $43,009 compared to 2019.

GMAR has a Net Gain of $283,750 through September 30, 2020, down $545,134 from last year. Overall, Total Net Assets were $2,348,851; $221,596 lower than the same point in 2019.

The primary factor in every significant decrease was the cancellation of the Home & Garden Show.

Statement of Activities – Membership: Through September 2020, $1,769,582 was collected in dues. Last year through the end of September we had collected $1,820,486 in dues, so dues are $50,904 behind last year at the same time. GMAR had a 92% renewal based on number of members billed. New member budget for 2020: 500 REALTORS®, 50 DRs and 20 Affiliates. Through September, actual new members: 585 REALTORS®, 31 DRs and 3 Affiliates.

Promotions: Through September 30, Home & Garden Show income is $9,620 and expenses are $142,624 for a net loss of $133,004. In mid-March, the Home & Garden Show was cancelled due to the COVID-19 pandemic, resulting in almost all the show’s income being eliminated. Many of the incurred expenses were refunded or applied to next year’s show. Budgeted net income for the Show was $254,200.

Expenses related to Public Policy and Professional Standards are basically all personnel costs, incurring expenditures primarily in Labor and Overhead. The only significant expense is an event deposit and a couple of 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 September were memberships and expenses for the president, sponsorships, travel expenses for the chair, 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 $283,750. Last year our net income was $828,884 for the same time period. The most significant reason for this change was a decrease in Home & Garden Show net income.

M/S/C to approve the unaudited Statement of Financial Position (Balance Sheet) and Statement of Activities as of September 30, 2020 and recommend placing on file for audit.

2) 2021 GMAR Budget

Mr. Ruzicka presented the 2021 budget to the directors stating that the largest unknown is the Home & Garden Show’s (HGS) viability, given the field hospital built in the exposition center at State Fair Park to accommodate overflow coronavirus patients.

For 2020 the Association initially budgeted net revenue for Promotions at $734,534, but once the HGS was cancelled, the revised budget showed income of $22,770, a $869,480 loss. For 2021 the Promotions budget is $262,350, $244,200 coming from the HGS.

Membership income is expected to be $1,809,525, up $15,535 from 2020. The GMAR saw an increase in membership income, despite being in a recession, in 2008, as people lost jobs in other industries and came into real estate. We are also budgeting for 500 new members again in 2021.

No funds were put into the Public Awareness Campaign for 2021 due to the unreliability of the HGS income, but a campaign could be assembled if the HGS appears to go off without an issue.

Public Policy, Professional Standards, and Leadership are on par with past years.

Administrative expenses are up $10,000 mostly due to staff salaries and benefits. The rental income the GMAR is realizing from Bell Bank taking the 2nd floor is nice to have.

Bottom line is income of $2,691,105, expenditures of $2,719,172 yielding a net loss of $28,068. As always, the GMAR will revise its budget mid-year at the July Directors meeting.

M/S/C to approve the 2021 budget as proposed.

5. President’s Report

Mike Ruzicka reported the following in addition to his written memorandum to the Board of Directors:

GMAR Election – The 2020 GMAR Board of Directors election was held October 11th – 17th. The 4 top finishers were:

1.Jose Flores, RE/MAX Lakeside

2.Summer Hill, Shorewest Realtors

3.Jim Zarek, First Weber Inc.

4.Jeremy Rynders, Keller Williams

M/S/C to accept the results of the 2020 GMAR Board of Directors election.

NAR Directors Meeting – The NAR Professional Standards Committee is proposing significant policy changes. The changes have been widely distributed and discussed on NAR’s HUB and other real estate outlets, and include:

•The scope of REALTOR® conduct which may be covered by the Code of Ethics,

•A new Standard of Practice relating to discriminatory speech, and

•Revision of the definition of public trust.

Mr. Ruzicka provided a link to an NAR video that explained the proposal: https://www.nar.realtor/national-leadership/committee-members-liaisons/nar-professional-standards-committee-recommendations

GMAR Chair, Kel Svoboda, and Chair-Elect, Courtney Stefaniak, are our 2020 NAR Directors, and will be able to vote on this measure.

2020 GMAR Award Winners – The GMAR Awards Committee met on October 23rd and discussed this year’s awards. There were several worthy candidates and the committee settled on the following:

•Lifetime Achievement – Mary Steinke, Shorewest Realtors

•REALTOR® of the Year – Rochelle Gamauf, Next Home Lake Country

•Dedicated Service – Mark Kivley, RE/MAX Lakeside

•Affiliate of the Year – Jill Meier, Merit Title LLC

The Association will create a video of each winner and post it for members to view.

WRA Leadership Summit – The annual WRA Leadership Summit, usually held in early December in Waukesha, will go virtual this year. The agenda is still pending, but historically this is one the WRA’s premiere events. As we have in the past, the GMAR will register all Directors who wish to attend.

6. Departments

A. Promotions (Home & Garden Show)

· Assuming 30% drop in attendance, reduced costs relating to printing, credit cards, etc.

· Assuming 20% drop in booth sales

· Reduced expenses from receptions, cooking demos, AV equipment, etc. due to COVID

· Decreased marketing budget 20%.

B. Government Affairs

Marne Stuck reported the following:

· Direct Giver/RPAC Fundraising Update – COVID-19 has not slowed fundraising efforts in 2020 and this year is shaping up to be a record-breaking year.

· RPAC YTD = $71,883.50

· Direct Giver YTD = $39,321.29 for a total of $111,204.79 compared to $98,586.44 in ‘19

· RPAC fundraising was up over $10,000 from 2019 and up over $20,000 from the last presidential election (2016).

· 10 of the 16 GMAR Board of Directors contribute to the Direct Giver. All 10 are members of WRA’s Large Donor Council. That is a huge part of our fundraising efforts/success.

C. Professional Standards

Scott Bush reported the following:

· M/S/C to approve the recommended discipline for cases:E20-30; E20-31; E20-35

· M/S/C to approve a citation policy for members who advertise property without disclosing their status as a real estate professional under article 12 of the Code of Ethics. Fine is $100 for a first offense and $500 for subsequent offenses.

· Mr. Bush provided an overview of NAR’s Professional Standards Committee proposal to consider recommendations from its Interpretations and Procedures Advisory Board on the Code of Ethics’ applicability to discriminatory speech and conduct. The NAR Board of Directors will vote on the proposals at their November 13, 2020 meeting. The consensus of the GMAR Directors was favorable toward the proposals which expand article 10 (A new SOP 10-5) to address hate speech and racial slurs and policy Statement 29 which basically addresses a REALTORS® conduct with respect to racial hate speech at all times—not just while performing duties as a REALTORS®.

7. MLS

Chris Carrillo, Metro MLS CEO, provided an update on:

· Full Search is ending, Quick Search will be the only search option.

· Zillow changing its business model and becoming a real estate brokerage competitor vs. just a web portal.

· Morel vs. REALTORS cases around the country – no summary judgement issued for NAR; Metro MLS has been served a subpoena in the case.

8. Old Business

A. None

9. New Business

A. Executive Committee Election

1) Secretary/Treasurer – Angela Walters

M/S/C to approve of Angela Walters as 2021 Secretary Treasurer

2) Chair-Elect – Kim Curtis

M/S/C to approve of Kim Curtis as 2021 Chair-Elect (and 2022 Chair)

10. Adjourn

The meeting adjourned at 2:00 PM

Respectfully Submitted,

Mike Ruzicka

President/CEO

__________________________________________

Angela Walters

Secretary/Treasurer

New Member Report

228 New Members joined October 28, 2020 - January 14, 2021 for approval (DR's - 15, R's - 212, A's - 1)

Mitchell

Abramczyk

First Weber Inc~Greenfield

Leonel

Alvarez

RE/MAX Lakeside~Capitol

Kit

Amidzich

The Real Estate Center, A Wisconsin LLC

Stella

Antonopoulos-Groser

Shorewest, REALTORS~Meadowbrook

Alyssa

Barbieri

Exit Realty XL

Michael

Basch

RE/MAX Realty 100~M Falls

Richard

Behrend

Behrend Property LLC

David

Birkle

RE/MAX Realty 100~Hales Cor

April

Blathers

Agape Realty Group LLC

Kiondra

Bohanon

Homestead Realty Inc~Milwaukee

Laprentice

Bolden

EXP Realty, LLC~Milw

Don

Bond

IDeal Realty

Thomas

Borger

Keller Williams Realty~Milw N Shore W Bay

Stephanie

Boswell

Keller Williams Success Realty

Phoebe

Botros


Brianna

Bowman


Heather

Boyd

Century 21 Affiliated~Delafield

Bridget

Brengel

Coldwell Banker Realty~MEQ

Ashley

Brooks

IDeal Realty

Jennifer

Brusso

Exit Realty XL

Christopher

Bryan

First Weber Inc~NPW

Brittany

Brzenk

Coldwell Banker Elite

Jazzmin

Bullock

ReThought Real Estate

Angel

Bustamante Valle


Jennifer

Buzzell

List 4 Less MLS of Wisconsin

Maria

Camacho

NextHome My Way

Jeanie

Carr

Shorewest, REALTORS~Moreland

Pamela

Cartwright

Shorewest, REALTORS~Racine

Tiare

Castro-Villafuentes


Annie

Chambers


Hailey

Chang

Realty Executives Integrity~Brookfield

Nicholas

Chapman

EXP Realty, LLC~MKE

Patti

Chasteen


Julio

Cifuentes

Empowerment Realty Group LLC

Grady

Clark


Clarissa

Cobb


Benjamin

Cohn


Bethel

Cohoon

The Wisconsin Real Estate Group

Viktor

Coka

Shorewest, REALTORS~South Metro

Deparish

Cole

Realty Executives Integrity~Northshore

Michael

Conerly

Shorewest, REALTORS~N Oakland

Sugeil

Cotto-Martins

Luna Listings

Raven

Crawford

Shorewest, REALTORS~W North

Robert

Crothers

Keller Williams Realty~Lake Country

Angelique

Cruz

Keller Williams Realty Milw SW~New Berlin

Megan

Dalecky

Firefly Real Estate

Sherry

Davis

NextHome My Way

Dawn

DeBoer

First Weber Inc~WK

Sarah

Derivan

Shorewest, REALTORS~MNM Falls

Gregory

Deuster


Jason

Diong

Metallon Properties LLC

Zeina

Dopierala

LaGalbo Realty, LLC

Kinard

Dozier


Caitlin

Duerr

Bluebell Realty

Michelle

Ekstrom


Diane

Eppen


Kara

Farage


Shaquita

Faulkner


Mark

Filiatrault

Prestige Realty WI LLC

Michael

Finn

Coldwell Banker Realty~Ogden

Rachel

Forster

RE/MAX Heritage~May

Marize

Fumero


Daniel

Galindo


Michael

Gallun

Chudnow Druck Valuation, Inc.

Cassandra

Gilbert


Alicia

Gilmore


Suzana

Glanek

Root River Realty

Joseph

Gleesing

Powers Realty Group~Shorewood

Carlissa

Glenn


Kalikah

Gordon

Coldwell Banker HomeSale Realty~ Corporate

Lisa

Gramoll

First Weber Inc~BK

Gail

Green


Catherine

Griffin

Berkshire Hathaway HomeServices Metro Realty

Eric

Guadarrama-Posada

EXP Realty, LLC~MKE

Catherine

Gurgul

Shorewest, REALTORS~OC

Shelby

Haase

First Weber Inc~DLF

Jennifer

Habersat

RE/MAX Service First LLC

Thomas

Hagedorn


Dawn

Haider


Anita

Halverson


Max

Hand

Empowerment Realty Group LLC

Brad

Hanson

Coldwell Banker Realty~BRK

Mary Beth

Hauser

Exit Realty XL

Lara

Heffernan

Keller Williams Prestige Realty

Michelle

Heintz

EXP Realty, LLC~MKE

Kinyata

Hendriex

Reign Realty

Alyssa

Hergert

Venture Real Estate Goup LLC

Stephanie

Herkowski

First Weber Inc~BK

Nicole

Herrera

HomeWire Realty

Dana

Herrmann


Zacarius

Hoey


Reilly

Hoffman

Porch Light Property Management & Real Estate

LaChelle

Hooks

First Weber Inc~NPW

Shanitta

Horton


Cassondra

House

First Weber Inc~NPW

Alexis

Howard-Santiago

RE/MAX Lakeside~27th

Leah

Hunt


Paul

Ihrcke

Landro Fox Cities Realty

Matthew

Jahns

Premier Point Realty LLC

Jeanne

Jaskolski

Mahler Sotheby's International Realty

Andrea

Jenels-Wimmer

Ogden, The Real Estate Company

Chelsea

Jenks

First Weber Inc~Mequon

Jesse

Jensen

HomeWire Realty

Candace

Johns

Milwaukee's Best Real Estate Services LLC

Jerome

Johnson

Newberry Properties

Randi

Justman

HomeWire Realty

Katherine

Kamenz

Cherry Home Realty LLC

Cheryl

Karklus


Jennifer

Kazmierczak


Ossie

Kendrix

Kendrix, REALTORS

Christine

Kestly

First Weber Inc~WK

Huda

Khokhar


Jeff

Killham

Redfin Inc.

Elizabeth

King

T3 Realty LLC

Katelynn

Kirkman

Harbor Homes Inc

Becky

Kligora


Christopher

Knight

Realty Executives Integrity~Northshore

Michael

Konkel

Map Realty Group LLC

Joseph

Konopka

Golden Oaks Realty

Admir

Kopic

First Weber Inc~West Bend

Miranda

Krahn

Home Town Realty

Jacob

Kremel


Brittany

Kroupa

Kathy Wolf and Sons Realty

Analise

Kwiatkowski

RE/MAX Realty 100~Milwaukee

Blas

Lampe

Agape Realty Group LLC

Chaim

Lampert

Gerald S Glazer Broker

Brandon

Lampson

Redfin Inc.

Reed

Larson


Ann

Lennart

Shorewest, REALTORS~Downtown

Tessa

Leonardi

Shorewest, REALTORS~New Berlin

Adan

Loera Delgado

NextHome My Way

Donny

Long

Coldwell Banker Realty~CED

Michael

Loomis


David

Lopez

Redfin Inc.

Tina

Lussow

Tina Lussow, Broker

Balbir

Mahay


Marian

Maher

Landro Fox Cities Realty

Megan

Mahler

Realty Executives Southeast

Kelly

Marble

First Weber Inc~West Bend

Timothy

Marks


Mariah

Marquardt


Bailee

Martinelli

Realty Dynamics

Casey

Masterson

Sarona Homes

Leahnna

Mazzulla

Coldwell Banker Realty~N Shore

Cindy

McGill

Tri City National Bank

Bridget

McKenzie


Jacquelyn

Mcmeans


Alexandria

Medina


Scott

Metcalf


Jeffrey

Mitchel


David

Mo


Tyler

Moen


Michelle

Monnat

ProStar Realty LLC

Miriam

Moreno


Marco

Morrison


Jodie

Mrotek

Powers Realty Group~Mequon

Cynthia

Mueller

Boss Realty LLC

Daniel

Murphy

City of Racine

Lucas

Nelsen


Jennie

Neumann


Lane

Nygren


Dyona

Olds


Kevin

O'Shaughnessy


Jazz

Palmer


Tiffani

Parker

Dream Realty LLC

Joshua

Parrent

Boss Realty LLC

Jennifer

Parteka

RE/MAX Gallery

Wendy

Paulsen

The Real Estate Co, Lake & Country Inc

Shelly

Pekrul


Elizabeth

Perez Mayet

Smart Asset Realty Inc

Lisa

Pienkos


James

Piwowarczyk

Realty Solutions Group

Kristy

Plassmeyer

RE/MAX Liberty

Christina

Ploetz


Robert

Polega


Kathy

Popovich


Arvind

Ramachandran

First Weber Inc~BK

Orlando

Reid

First Weber Inc~NPW

Clark

Rendall


Karen

Replogle

Keller Williams Realty~Milw N Shore W North

Jessalyn

Rich


Heidi

Roberts

Lake Country Home Realty LLC

De'arquise

Robinson

Gardner & Associates Real Estate

Janet

Rocha


Brianna

Roethle

Homestead Advisors

Jaclyn

Ruben


Jack

Salemme

Homeowners Concept-Wauwatosa

Emma

Saul

First Weber Inc~DLF

Rhonda

Schmitt Randall

Lake Breeze Realty

Joseph

Schneidler

First Weber Inc~BK

Andrew

Schramm

Michael J. Schramm

Adrienne

Schulteis

Homestead Advisors

Mohammed

Scruggs-Rashaed

Rightly Guided Real Estate LLC

Fasahat

Shah

Maverick Property Pros LLC

Antoinette

Smith


Marthan

Solochek


Antoinette

Spencer

Coldwell Banker Realty~N Shore

Kyle

Stephens


Kevin

Stuckert

Resilient Realty LLC

Deanna

Taylor

First Weber Inc~MF

Victor

Thomas

First Weber Inc~DLF

Bridget

Tighe


Lashantay

Tillman


Elizabeth

Toomey


Neha

Towns


Tracy

Treacy

First Weber Inc~NPW

Connor

Vafi

First Weber Inc~BK

Jose

Valle Sollano

ACTS Community Development Corp

Desiree

Veasey

Milwaukee's Best Real Estate Services LLC

Michelle

Vogds


Jasmine

Vreeke


Kayla

Waltemath


William

Warren


Laetitia

Wasko

First Weber Inc~Mequon

Dawn

Weeden

RE/MAX Realty 100~M Falls

Sheree

Wegenke


Ronald

Weis


Thomas

Weller

Shorewest, REALTORS~West Bend

Laura

Wendt


Jessica

Willer

Shorewest, REALTORS~Moreland

Laquisha

Williams

Map Realty Group LLC

Elizabeth

Williamson


Kathy

Wolf

Kathy Wolf and Sons Realty

Darry

Wortham

IDeal Realty

Maikou

Yang


Melissa

Young


Jennifer

Zoeller


Scott

Zylka

First Weber Inc~DLF

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.

2021 GMAR Budget

November 2020 Financial Notes

Statement of Financial Position

As of November 30, 2020, GMAR had $2,187,579 in Cash & Investment Balances, down $350,545 compared to last year.

Accounts receivable were down $97,440 compared to last year. Prepaid expenses were up $226,765 compared to 2019 primarily due to the State Fair Park fees for the 2020 Home and Garden Show being credited to cover the 2021 Show. Fixed Assets increased by $51,511.

Total Assets were $4,413,333 which is down $169,709 compared to 2019.

On the Liability side, accounts payable were up $10,538 compared to last year. Accrued vacation expenses were up $741. Unearned revenue is down $17,383. Overall, Total Liabilities were $2,331,121 which is down $17,821 compared to 2019.

GMAR has a Net Gain of $12,110 through November 30, 2020, down $475,425 from last year. Overall, Total Net Assets were $2,082,211; $151,888 lower than the same point in 2019.

The primary factor in every significant decrease listed above was the cancellation of the Home and Garden Show due to COVID-19.

Statement of Activities

Membership: Through November 2020, $1,810,234 was collected in dues. Last year through the end of November we had collected $1,846,671 in dues, so dues are $26,437 behind last year at the same time. GMAR had a 92% renewal based on number of members billed. New member budget for 2020: 500 REALTORS®, 50 DRs and 20 Affiliates. Through November, actual new members: 748 REALTORS®, 36 DRs and 4 Affiliates.

Promotions: Through November 30, Home and Garden Show income is $9,620 and expenses are $142,624 for a net loss of $133,004. In mid-March the Home and Garden Show was cancelled due to the COVID-19 pandemic, resulting in almost all of the show’s income being eliminated. Many of the incurred expenses were refunded or applied to next year’s show. Budgeted net income for the Show was $254,200.

Expenses related to Public Policy and Professional Standards are basically all personnel costs, incurring expenditures primarily in Labor and Overhead. The only significant expense is an event deposit and a couple of 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 the chair, 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 $12,110. Last year our net income was $487,536 for the same time period. The most significant reason for this change was a decrease in Home and Garden net income.

Statement of Financial Position (Balance Sheet)


MEMORANDUM

To:GMAR Board of Directors

From:Mike Ruziicka, President

Re:January President’s Report

Date: January 15, 2021

NAR DOJ Settlement

As you probably have heard, NAR and the Department of Justice have reached an agreement regarding MLS rules.

One component of the settlement is that MLSs/Associations must allow non-members (who are licensed) to access listings that have lockboxes, with a seller’s consent. I was initially very worried that we would have to provide free access to non-members who wanted to access SentriLock boxes.

I am still a little worried, but it appears that we will be able to charge non-members a reasonable fee for accessing the SentriLock system. We are waiting for final guidance from NAR and the DOJ.

We should think about a threshold for accessing the SentriLock system. Perhaps we would not charge an agent who accesses the SentriLock system occasionally, but after accessing the system X times in a given period of time, would have to pay the $11.50/month that current members pay.

2021 Public Awareness Campaign

While our 2021 budget is in flux for the moment, we can think about the types of messages we would like to send the buying and selling public this year.

I have discussed conducting a social media campaign out of our office with the staff in order to reduce our costs.

Obviously, the lack of inventory is one theme we can address, but I would like to solicit your thoughts on additional topics. Here are a couple I have thought of:

· Inventory

· Buyer Preparedness

· Anti-FSBO message

· Why use a REALTOR®

REALTOR® Membership

Membership has been a very bright spot in the GMAR’s budget for several years. In August we billed 4,864 members and as of 12/31/20 we had 90% (4,397) renew. That puts us a bit ahead of what we had budgeted. The 4,397 renewals were 470 ahead of December 2019.

At the end of 2020, we give those who have not renewed a few days grace period, and then turn off all of their services. On 1/8/20 MLS shut off 349 members, this year on 1/8/21 only 257 members we shut off.

Strategic Plan UpdateP 30

1. Code of Ethics

· Sent out 17 “Ethics Exchange” emails in 2020

· Added “Re-Orient Yourself” to newsletter

· In 2021 we will host several Zoom events/classes/seminars on ethics

· Sanctions have increased significantly

2. Value Proposition of REALTORS®

· Continued distributing statistics press releases

· Monica Baer creating media opportunities

· 2021 social media campaign

3. Public Policy

· 2020 elections distracted from this objective

4. REALTOR® Professionalism

· 2021 panel discussion with pat chairs (professionalism, leadership examples, etc.)

5. Homeownership

· Involved with area housing agencies, i.e. UEDA, HRI, Take Root MKE.

What other communication vehicles should we use? More podcasts, short videos, etc.?

Additional Information

1. NAR Real Estate Forecast Summit links to access the Summit materials, including the full video, presentations, and Forecast Report infographics:

•Video: https://www.nar.realtor/events/nar-real-estate-forecast-summit

•Lawrence Yun’s presentation slides: https://www.nar.realtor/events/nar-real-estate-forecast-summit

•Full Consensus Forecast Infographics: https://www.nar.realtor/infographics/nar-real-estate-forecast-summit-consensus-forecast

•Top 10 Markets Forecast: https://www.nar.realtor/reports/top-ten-markets-during-covid

2. The Chicago Fed hosted the 34th Annual Economic Outlook Symposium (EOS) virtually on December 4. Chief economists and senior executives from the banking, auto, steel, and machinery industries provided their perspectives on the economy and the long road to recovery from the pandemic.

•https://www.chicagofed.org/publications/blogs/chicago-fed-insights/2020/eos-part-1

•https://www.chicagofed.org/publications/blogs/chicago-fed-insights/2020/eos-part-2

Recurring Status Reports

GMAR Snapshot P 25

MLS MembershipP 20

GMAR Organizational ChartP 26

2021 GMAR Directors RosterP 27

2021 GMAR CalendarP 28

GMAR Strategic PlanP 30

GMAR 2020 Organizational Chart

2021 GMAR Board of Directors

Terms expiring

12/31/2021

Terms expiring

12/31/2022

Terms expiring

12/31/2023

Joe Horning

Shorewest, Realtors

17450 W. North Ave.Brookfield, WI 53045-4337O 262.827.4200

[email protected]

NRDS: 090096259

(3yr term from Exec Roundtable)

Maureen Stallé

Keller Williams

205 E Silver Spring Drive

Whitefish Bay, WI 53217

O 414.967.7900 M 414.403.1624

[email protected]

NRDS: 090051909



Ted Dentice

Shorewest, Realtors (2nd Term)

17450 W. North Ave.Brookfield, WI 53045-4337O 262.827.4200 M 262.289.6230

[email protected]

NRDS: 090017283

Courtney Stefaniak, Chair

The Stefaniak Group (2nd Term)

2234 S 108th St

Milwaukee, WI 53227-1108

M 262.271-5089

[email protected]

NRDS: 090113039

Jose Flores (1st Term)

RE/MAX Lakeside

5341 S 27th Street

Milwaukee, WI 53221

O 414.325.0000

[email protected]

NRDS: 885500352

Kim Curtis, Chair-Elect

Shorewest, Realtors (1st Term)

2419 W. Washington St.

West Bend, WI 53095

M 262.707.2363

[email protected]

NRDS: 090060874

Roger Rushman

First Weber Inc. (2nd Term)

2750 Golf Rd, Suite A

Delafield, WI 53018-2063

O 262.646.6800 M 414.333.5313 [email protected]

NRDS: 090015540

Summer Hill (1st Term)

Shorewest, Realtors

11622 W North Ave.

Wauwatosa, WI 53226

O 414.476.7100

[email protected]

NRDS: 090055854

Angela Walters, Secretary/Treasurer

EXP Realty, LLC (1st Term)

342 N Water St, Ste 600

Milwaukee, WI 53202-5715

M 414.235.1152

[email protected]

NRDS: 090094348

Mark Kivley (1st Term)

RE/MAX Lakeside

1200 E Capitol Dr Ste 200

Milwaukee, WI 53211

M 414.406.1840

[email protected]

NRDS: 090020696

Jim Zarek (1st Term)

First Weber Inc.

17345 W Bluemound Road

Brookfield, WI 53045

O 262.782.3110

[email protected]

NRDS: 090062462

Judy Hearst (1st Term)

Coldwell Banker Residential Brkrge

11303 N Port Washington Rd

Mequon, WI 53092-3411

M 414.702.2064

[email protected]

NRDS: 090045822

Sarah Cole (1st Term)

Landmark Realty

3800 S 97th St

Milwaukee, WI 53228

M 414.510.4903

[email protected]

NRDS: 090128495

Jeremy Rynders (2nd Term)

Keller Williams Realty

2665 S Moorland Rd, Suite 104

New Berlin, WI 53151

M 414.795.6675

[email protected]

NRDS: 090118704

Kel Svoboda, Past Chair

First Weber Inc. (2nd Term)4650 N Port Washington RdGlendale, WI 53212-1077

O 414.962-3000 M 414.213.9014

[email protected]

NRDS: 090098433

Mike – 885500353

Marne – 090082562

Scott – 885500171

2021 GMAR Meetings & Events Calendar

January

1GMAR Fiscal Year begins

6GMAR Orientation

14GMAR Executive Committee Meeting

21GMAR Board of Directors Meeting – 12:00 Noon, (Virtual)

21-22GMAR Youth Foundation Board Meeting – GMAR

26-28Inman Connect New York 2021 (Virtual)

29WRA Board of Directors Meeting – Madison, WI

February

3 GMAR Orientation

4 MLS BOD Meeting (Virtual)

15GMAR Audit – Wegner & Assoc.

March

3GMAR Orientation

11GMAR Executive Committee Meeting/Conference Call

18GMAR Board of Directors Meeting –12:00 Noon, GMAR Headquarters

26-April 397th REALTORS® Home & Garden Show – Wisconsin Expo Ctr, West Allis, WI

TBDMarquette Univ & GMAR/WRA Economic Summit – Italian Community Center

April

7GMAR Orientation

14REALTOR® & Government Day – Madison, WI



May

5GMAR Orientation

6MLS BOD Meeting – TBD

6GMAR Board of Directors Meeting – 12:00 Noon, GMAR Headquarters

TBDBrewers Bash – Miller Park, Milwaukee, WI

7WRA Board of Directors Meeting – WRA Headquarters, Madison, WI

12-15NAR REALTORS® Legislative Meetings – Washington, D.C.

28Deadline for 2021 NAR Committee Applications

TBDWomenStrong GMAR Women’s Conference – Italian Community Center

June

2GMAR Orientation

TBDDowntown Open House

27-30Real Trends: Gathering of Eagles, Colorado Springs, CO

July

1GMAR BOD Candidate Applications available to members


6GMAR Board of Directors Mtg – Ironwood Golf Course

6GMAR Summer Golf Outing – Ironwood Golf Course

14GMAR Orientation


August

4GMAR Orientation

6WRA BOD Meeting – TBD

23-24NAR Leadership Summit – Chicago, IL (Chair-Elect)

TBDGMAR Nominating Committee Meeting – GMAR Headquarters

31Last day for GMAR BOD Candidates to submit Applications

September

1Nominating Committee notification of BOD Candidates to membership

8GMAR Orientation

9MLS BOD Meeting – TBA

TBDWRA Leadership Summit – WRA

TBDKettle Moraine Council Wine Tasting

TBDWRA Convention – Kalahari, WI Dells



30GMAR Board of Directors Write-In Candidate Deadline

21-24CMLS Annual Conference, Seattle, WA

October

6GMAR Orientation

10-16GMAR Board of Directors e-Election

21-22GMAR Youth Foundation Board Meeting

28 GMAR Executive Committee Meeting

November

3GMAR Orientation

4GMAR Youth Foundation Annual Meeting – 11:30 AM, GMAR Headquarters


12-15NAR Convention – San Diego, CA

December

8GMAR Orientation

TBDChairwoman’s Holiday Party & GMAR Annual Mtg

TBDWRA Management Conference – TBA

31GMAR Fiscal Year ends

2019 Income

Membership (MBRSHIP)Promotions (PROMO)Public Affairs (PUB AFFR)Professional Standards (PROF STD)Leadership (LDRSHIP)Administration (ADMIN)1975112.46935627.16999999969275020050086809.17

2020 Income (Through Nov)

Membership (MBRSHIP)Promotions (PROMO)Public Affairs (PUB AFFR)Professional Standards (PROF STD)Leadership (LDRSHIP)Administration (ADMIN)1834031.5922036.629999999903125035000112381.45

2019 Expenditures

Membership (MBRSHIP)Promotions (PROMO)Public Affairs (PUB AFFR)Professional Standards (PROF STD)Leadership (LDRSHIP)Administration (ADMIN)729341.59000000008585682.7500000001213477.56999999999823355.67199146.72408244.9

2020 Expenditures (Through Nov)

Membership (MBRSHIP)Promotions (PROMO)Public Affairs (PUB AFFR)Professional Standards (PROF STD)Leadership (LDRSHIP)Administration (ADMIN)583368.32999999996144211.609999999939413.5819770.649999999998114961.98000000001438054.73999999987

Membership Net Income (Through Nov)

Membership Income

200620072008200920102011201220132014201520162017201820192020818326.37703299.67999999993664783.06000000006598840.46000000008657300.36591698.5594982.34633309.07000000007709210.09000000008727089.07000000007791207.26819651.89750898.211245770.86999999991250663.2600000002Income Statement

200620072008200920102011201220132014201520162017201820192020200620072008200920102011201220132014201520162017201820192020

HGS Net Income

200620072008200920102011201220132014201520162017201820192020274557.57000000007315028.90000000002264455.27000000014304539.26000000013309790.42999999993318626.46999999974326223.98999999987238263.06999999983283147.67999999982256729.1999999996300924.43999999948312554.24999999988304471.71999999962349944.41999999958-122174.98000000003

GMAR Financial Performance

20072008200920102011201220132014201520162017201820192020187854.4500000001978108.57999999937661912.18000000016884422.800000000396-35244.100000000326-7263.8100000000559-34936.350000000326-27912.5000000002331675.920000000158326976.34999999997770922.11999999953-231076.52000000037323799.790000000512110.348000000464

26

Current YearPrevious YearCurrent Year

11 Months11 MonthsOriginal 2020Current YearCurrent Year

Ending 11/30/20Ending 11/30/19Annual$ Over (Under)% of

ActualActualBudgetBudgetBudget

Receipts:

Dues1,810,234.001,846,670.501,720,769.0089,465.00105.2%

Member Outings16,595.24115,210.0065,271.00(48,675.76)25.4%

Member Services1,807.35356.512,000.00(192.65)90.4%

Young Prof Network4,500.005,250.005,000.00(500.00)0.0%

New Member Orientation50.0050.000.0050.000.0%

Kettle Moraine845.00875.00950.00(105.00)0.0%

Home and Garden Show9,620.00911,454.509,770.00(150.00)98.5%

Other Shows0.000.000.000.000.0%

Education500.0013,372.670.00500.000.0%

Youth Foundation11,916.6311,916.6313,000.00(1,083.37)91.7%

Public Policy1,250.001,250.001,250.000.00100.0%

NAR Grant0.001,500.000.000.000.0%

Wisconsin Real Estate Supply406.4319.990.00406.430.0%

Professional Standards3,500.0017,350.0013,000.00(9,500.00)26.9%

Investment Invomce (net)5,137.626,685.656,000.00(862.38)0.0%

Realized Gain (Loss) *(2,046.17)695.270.00(2,046.17)0.0%

Unrealized Gain (Loss) *19,826.2920,719.350.0019,826.290.0%

Administrative89,463.7137,892.51113,629.00(24,165.29)78.7%

Total Receipts1,973,606.102,991,268.581,950,639.0022,967.10101.2%

Expenditures:

Dues70,369.8065,073.0374,550.00(4,180.20)94.4%

Member Outings25,554.59164,334.44126,371.00(100,816.41)20.2%

Member Services474,662.16396,456.30529,750.00(55,087.84)89.6%

Young Prof Network136.744,078.606,000.00(5,863.26)2.3%

New Member Orientation2,210.909,530.062,915.00(704.10)75.8%

Membership Department3,349.31876.031,050.002,299.31319.0%

Kettle Moraine7,084.838,505.459,125.00(2,040.17)77.6%

Home and Garden Show142,623.56583,512.90124,074.0018,549.56115.0%

Other Shows7.070.000.007.070.0%

Education560.081,776.490.00560.080.0%

Youth Foundation85.39157.75300.00(214.61)28.5%

Promo Department935.510.000.00935.510.0%

Public Policy9,413.589,433.0929,548.00(20,134.42)31.9%

NAR Grant0.001,500.000.000.000.0%

Wisconsin Real Estate Supply1,112.278.060.001,112.270.0%

Professional Standards19,770.6522,738.8325,000.00(5,229.35)79.1%

National Meetings1,311.8058,713.440.001,311.800.0%

Officer Expenses43,559.7426,483.9534,700.008,859.74125.5%

Meetings3,988.193,762.597,600.00(3,611.81)52.5%

Committees13,508.3637,889.1311,400.002,108.36118.5%

Leadership Department52,593.8937,952.2631,700.0020,893.89165.9%

Direct Wages/Fixed OH/Variable OH650,602.59679,573.91875,530.00(224,927.41)74.3%

Administrative1,088,657.331,070,950.451,257,209.00(168,551.67)86.6%

Direct Wage,Fixed/Variable OH Alloc(650,602.59)(679,573.91)(875,530.00)224,927.4174.3%

Total Expenditures1,961,495.752,503,732.852,271,292.00(309,796.25)86.4%

Net Income (Expense) - Per Audit12,110.35487,535.73(320,653.00)332,763.35-3.8%

GREATER MILWAUKEE ASSOCIATION OF REALTORS


November 30, 2020

GMAR SUMMARY

20062007200820092010201120122013

IncomeDir ExpendituresIncomeDir ExpendituresIncomeDir ExpendituresIncomeDir ExpendituresIncomeDir ExpendituresIncomeDir ExpendituresIncomeDir ExpendituresIncomeDir Expenditures

January1,329,788$ 141,094$ 1,354,648$ 146,329$ 1,284,997$ 134,539$ 1,113,492.00$ 138,544.00$ 1,145,678.55$ 154,495.94$ 1,097,981.31$ 272,053.27$ 1,072,092.83$ 108,624.08$ 1,097,082.48$ 280,262.61$

February194,130$ 228,805$ 146,576$ 83,369$ 204,515$ 230,335$ 188,873.06$ 239,578.78$ 175,441.92$ 247,222.38$ 133,461.17$ 63,569.36$ 165,474.69$ 231,192.83$ 137,399.02$ 64,453.04$

March127,203$ 113,061$ 150,057$ 267,889$ 138,584$ 97,055$ 157,246.96$ 66,936.53$ 141,583.59$ 70,843.49$ 160,404.97$ 73,511.79$ 185,320.07$ 83,537.09$ 118,922.59$ 84,571.06$

April142,784$ 249,107$ 154,945$ 219,238$ 131,704$ 249,584$ 109,481.08$ 190,606.23$ 97,339.11$ 204,162.87$ 97,033.08$ 194,364.62$ 110,052.54$ 138,930.26$ 157,302.18$ 323,784.36$

May126,138$ 196,736$ 126,824$ 177,818$ 117,368$ 225,606$ 59,774.60$ 85,554.17$ 97,864.34$ 121,801.32$ 110,789.34$ 209,098.30$ 94,329.42$ 218,152.95$ 46,363.77$ 58,425.69$

June81,834$ 110,753$ 73,456$ 140,511$ 44,721$ 95,302$ 119,912.06$ 189,301.06$ 47,074.78$ 67,092.35$ 51,224.80$ 66,981.10$ 45,933.24$ 79,655.91$ 40,458.25$ 74,252.30$

July79,551$ 133,143$ 100,904$ 99,072$ 67,561$ 100,543$ 39,520.34$ 83,135.76$ 41,383.24$ 58,437.44$ 28,285.93$ 59,309.44$ 44,861.70$ 54,624.09$ 39,151.27$ 61,937.54$

August78,386$ 52,671$ 58,120$ 83,241$ 36,173$ 67,769$ 37,874.65$ 58,087.76$ 23,987.60$ 37,636.56$ 18,998.15$ 67,179.43$ 28,176.19$ 78,794.14$ 24,999.83$ 47,876.48$

September58,129$ 59,654$ 52,906$ 48,964$ 29,412$ 60,215$ 35,466.16$ 55,364.80$ 35,797.20$ 43,174.62$ 10,947.27$ 40,523.50$ 28,765.40$ 54,552.39$ 41,201.32$ 40,349.26$

October40,287$ 82,171$ 40,782$ 108,961$ 10,644$ 58,715$ 24,586.56$ 42,886.23$ 21,663.65$ 47,883.16$ 48,914.90$ 39,346.96$ 22,298.35$ 36,576.67$ 25,813.13$ 51,718.06$

November42,670$ 47,477$ 26,400$ 73,176$ 22,203$ 36,923$ 38,334.43$ 32,167.66$ 57,368.22$ 32,334.35$ 30,224.90$ 33,808.26$ 36,693.99$ 33,143.21$ 54,625.44$ 35,758.59$

December38,929$ 109,043$ 28,906$ 94,019$ 24,137$ 79,775$ 25,321.90$ 81,875.40$ 25,866.86$ 87,355.95$ 18,967.41$ 69,974.05$ 20,480.53$ 94,000.62$ 26,639.00$ 89,005.09$

2,339,830$ 1,523,715$ 2,314,523$ 1,542,587$ 2,112,019$ 1,436,364$ 1,949,883.80$ 1,264,038.38$ 1,911,049.06$ 1,172,440.43$ 1,807,233.23$ 1,189,720.08$ 1,854,478.95$ 1,211,784.24$ 1,809,958.28$ 1,212,394.08$

Net Total816,115$ 771,936$ 675,655$ 685,845.42$ 738,608.63$ 617,513.15$ 642,694.71$ 597,564.20$

20062007200820092010201120122013

IncomeDir ExpendituresIncomeDir ExpendituresIncomeDir ExpendituresIncomeDir ExpendituresIncomeDir ExpendituresIncomeDir ExpendituresIncomeDir ExpendituresIncomeDir Expenditures

January 54,077.82$ 56,563.28$ 52,554.14$ 63,194.11$

February 59,362.96$ 57,172.41$ 53,942.64$ 54,183.78$

March 60,331.27$ 60,250.53$ 63,502.59$ 72,037.29$

April 58,413.18$ 63,315.39$ 51,804.93$ 49,888.13$

May 50,973.58$ 64,085.86$ 49,713.39$ 65,564.68$

June 43,079.84$ 42,534.12$ 41,436.32$ 35,444.39$

July 78,173.79$ 46,634.14$ 84,055.31$ 41,785.07$

August 59,625.66$ 53,668.40$ 49,406.14$ 47,477.92$

September 42,381.19$ 65,625.13$ 49,650.43$ 37,748.72$

October 39,784.78$ 46,498.25$ 47,637.69$ 57,442.73$

November 48,448.94$ 52,986.44$ 56,740.27$ 54,918.55$

December 59,532.82$ 43,423.30$ 49,514.67$ 52,815.18$

574,787$ 584,082$ 597,547$ 623,933$ 654,185.83$ 652,757.25$ 649,958.52$ 632,500.55$

Income Statement 20062007200820092010201120122013

Income Over Expenditures241,328$ 187,854$ 78,109$ 61,912$ 84,423$ (35,244)$ (7,264)$ (34,936)$

Overhead (Direct Wages, Fixed Overhead Allocation & Variable Overhead Allocation)

GMAR SUMMARY

2020

IncomeDir ExpendituresIncomeDir ExpendituresIncomeDir Expenditures

2,264,184.43$ 253,774.88$ 1,729,778.54$ 263,512.27$ 2,264,184.43$ 253,774.88$

125,621.37$ 231,184.19$ 157,479.32$ 142,049.74$ 125,621.37$ 231,184.19$

(205,212.61)$ 164,178.47$ 97,672.79$ 123,944.22$ (205,212.61)$ 164,178.47$

(266,517.82)$ 99,079.75$ 103,326.31$ 171,873.70$ (266,517.82)$ 99,079.75$

(41,439.64)$ 91,578.00$ 74,541.49$ 193,587.27$ (41,439.64)$ 91,578.00$

21,606.02$ (27,534.64)$ 85,012.91$ 130,236.33$ 21,606.02$ (27,534.64)$

37,803.00$ 87,638.66$ 31,113.14$ 115,230.17$ 37,803.00$ 87,638.66$

(46,461.23)$ 103,990.41$ 26,909.01$ 66,369.58$ (46,461.23)$ 103,990.41$

29,489.44$ 98,092.60$ 30,862.89$ 71,221.31$ 29,489.44$ 98,092.60$

22,761.39$ 114,185.19$ 38,328.34$ 79,895.44$ 22,761.39$ 114,184.99$

31,771.75$ 94,725.65$ 49,062.08$ 162,112.36$ 31,771.75$ 94,725.65$

-$ -$ 9,245.45$ 141,699.62$ 9,245.45$ 141,699.62$

1,973,606.10$ 1,310,893.16$ 2,132,881.07$ 1,483,103.54$ 1,982,851.55$ 1,452,592.58$

662,712.94$ 649,777.53$ 530,258.96$

Overhead

(Direct Wages, Fixed Overhead Allocation & Variable Overhead Allocation)

20202017-2019 3-Yr Est2020

IncomeDir ExpendituresDir ExpendituresDir Expenditures

77,393.09$ 60,250.73$ 17,142$ 77,393.09$

65,751.82$ 60,333.84$ 5,418$ 65,751.82$

69,816.13$ 71,119.62$ (1,303)$ 69,816.13$

48,719.82$ 59,555.90$ (10,836)$ 48,719.82$

47,860.55$ 61,412.73$ (13,552)$ 47,860.55$

44,528.06$ 47,587.28$ (3,059)$ 44,528.06$

56,947.65$ 56,096.87$ 851$ 56,947.65$

60,989.82$ 56,185.79$ 4,804$ 60,989.82$

61,333.74$ 60,358.57$ 975$ 61,333.74$

57,227.94$ 55,904.52$ 1,323$ 57,227.94$

60,033.97$ 58,800.86$ 1,233$ 60,033.97$

69,445.10$ (69,445)$ 69,445.10$

650,602.59$ 717,051.82$ (66,449)$ 720,047.69$

2020

12,110.35$ (67,274.29)$ (189,788.73)$

2017-2019 3-Yr Avg Est

GMAR Board of Directors

President

Mike Ruzicka

• BOD / Exec / Top 10 Liaison

Multiple Listing Service

• Strategic Planning

Chris Carrillo, CEO• Budget / FinanceCommittees:

• Personnel• Nominating Committee

• Awards Committee

Concerned REALTORS

®

PAC

• Professional Standards Committee

Marne Stuck, GAD

• Kettle Moraine Council

Vice President • Young Professionals Network

Scott Bush

• Equal Opportunity

Youth Foundation

• PS / Ethics Enforcement

Scott Bush, Corp Secretary

• New Member OrientationTask Forces:

• Fair Housing• Public Policy

• Veterans Support

• Personnel• Housing Statistics

• REALTOR

®

Safety

VP of Membership ServicesGovernment Affairs DirectorVP of PromotionsFinance

Michelle KohnMarne StuckAmanda FalkWRA

• Membership• Public Policy• HGS

Wegner CPAs

• Educational / Social Events• CRPAC / DG• Communications

• Communications• Political Strategy

Legal

• HGS

Reception Karen BrienzoKathy Gutenkunst

Alberta Dhillon

• HGS

Membership

• Inbound Comm.

Tech Support

WRA

• SentriLockWater Street Creative

Metro MLS, Inc.

Member EngagementCommunications

Valley Expo

Emily SimonelliBaer Carlson (PR)

Gerard Revolinski

• Communications

Stark Media (Website)

• SentriLock

• Educ. / Social Events

• HGS VIP Tix= Contract position

November 30,November 30,

20202019$ Change% Change

Assets:

Cash607,043.88378,469.96228,573.9260.4%

Investments-BMO261,234.96240,899.5720,335.398.4%

Bankers' Acceptance/ICS Investment1,319,300.541,918,754.77(599,454.23)-31.2%

Accounts Receivable138,824.94236,264.73(97,439.79)-41.2%

Prepaid Expenses281,860.9455,096.37226,764.57411.6%

Total Current Assets2,608,265.262,829,485.40(221,220.14)-7.8%

Fixed Assets (Net of A/D)847,819.06796,307.6951,511.376.5%

MLS Investment957,248.29957,248.290.000.0%

Total Assets4,413,332.614,583,041.38(169,708.77)-3.7%

Liabilities and Fund Balance:

Liabilities:

Accounts Payable335,082.96324,544.8310,538.133.2%

Unearned Revenue1,530,577.001,547,960.00(17,383.00)0.0%

Accrued Expenses84,192.0175,659.548,532.4711.3%

Mortgage-Long Term Liability381,269.51400,777.68(19,508.17)0.0%

Total Liabilities2,331,121.482,348,942.05(17,820.57)-0.8%

Net Assets:

Net Assets1,784,914.581,481,712.79303,201.7920.5%

General Reserves - 3% Dues27,500.0027,500.000.000.0%

Board Designated Reserve Fund247,686.20227,350.8120,335.398.9%

Board Designated H&G Reserve10,000.0010,000.000.000.0%

Net Revenue (Expense)12,110.35487,535.73(475,425.38)-97.5%

Total Net Assets2,082,211.132,234,099.33(151,888.20)-6.8%

Total Liabilities and Net Assets4,413,332.614,583,041.38(169,708.77)-3.7%

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