2022-11-14T15:01:04-06:00 2021-12-31 366055558 Grant Thornton LLP 171 N Clark St Suite 200 Chicago IL 60601 990 2021-01-01 530184820 Society of Industrial and Office Realtors SOCI 3123298200 C/O Tax Dept 430 N Michigan Ave Chicago IL 60611 Robert Thornburgh Chief Executive Officer 2022-11-14 true Robert Thornburgh 999009999 Bridget T Roche P00666837 3128560200 2021 2022-09-23 18:48:47Z Robert Thornburgh 1201 New York Ave NW Ste 350 Washington DC 20005 7880399 false X www.SIOR.com X 1941 IL The Society of Industrial and Office REALTORS (SIOR) of the NAR is a professional association which: A. To unite those REALTORS who are engaged in brokering or advising for compensation, the buying, selling, renting or leasing of land, factories, warehouses, research facilities, offices and other real estate used in the processes of business and industry (hereinafter "industrial and office real estate"). B. The fostering of knowledge, education, integrity, and quality workmanship in the field of industrial and office real estate. C. The exchange of information relating to industrial and office real estate. D. The identification, qualification and certification of experienced and competent industrial and office real estate professionals and publication of the qualifications of its members to those needs of the public. E. The cooperation with governmental departments, civic organizations, educational institutions, and business groups, by appropriate contact. 15 14 18 425 79429 0 82000 45070 5154765 5982551 219084 629565 20678 18961 5476527 6676147 5000 6000 0 2716612 2912290 0 0 3291432 4174654 6013044 7092944 -536517 -416797 13343449 15857088 2437411 3853988 10906038 12003100 The Society of Industrial and Office REALTORS (SIOR) of the National Association of REALTORS is a professional association which maintains a designated certifying expertise in industrial and office real estate brokerage. The organization provides education at its two annual conferences and provides a Code of Ethics to which its members subscribe. SIOR has a total of 3,400 members along with a city and county presence of 686 cities in 38 countries. false false SIOR'S TWO SEMI-ANNUAL CONFERENCES PROVIDE ATTENDEES WITH OUTSTANDING EDUCATIONAL PROGRAMMING AND VALUABLE NETWORKING OPPORTUNITIES. EDUCATIONAL SESSION INSTRUCTORS COMMUNICATE CURRENT MARKET DATA AND CUTTING EDGE INDUSTRY PRACTICES ENABLING SIOR MEMBERS TO REMAIN LEADERS IN COMMERCIAL REAL ESTATE. IN ADDITION, SIOR SEEKS STATE APPROVAL FOR EDUCATIONAL SESSIONS, SO THAT ATTENDEES RECEIVE CONTINUING EDUCATION CREDIT TOWARD STATE REAL ESTATE LICENSE RENEWALS. SIOR IDENTIFIES AND CERTIFIES FULLY QUALIFIED EXPERTS IN INDUSTRIAL AND OFFICE REAL ESTATE WITH THE SIOR DESIGNATION. TO QUALIFY FOR THE SIOR DESIGNATION, INDIVIDUALS MUST MEET SPECIFIED EDUCATIONAL AND VOLUME-OF-BUSINESS REQUIREMENTS, AND ADHERE TO A STRICT CODE OF ETHICAL STANDARDS IN ACCORDANCE WITH SIOR'S CODE OF ETHICAL PRINCIPLES AND STANDARDS OF PROFESSIONAL PRACTICE. PRODUCTION OF PROFESSIONAL REPORT, THE OFFICIAL QUARTERLY MAGAZINE OF SIOR. THE MAGAZINE PROVIDES EDUCATIONAL ARTICLES, INDUSTRY TRENDS, AND MEMBER NEWS FOR DISSEMINATION TO SIOR MEMBERS AND THE BROADER COMMERCIAL REAL ESTATE COMMUNITY. ALSO, SIOR PROVIDES A "MEMBER FIND A MEMBER" SERVICE VIA THEIR WEBSITE. 0 false true true true false false false false false true false false false true true true true false false true false false false false false false false false true false false false false false false false false false false false true true true false true 31 0 true 18 true true true false false false false false false false X 15 14 false false false false false false true true true false true true false true true true true true true true false X Robert Thornburgh 2024498204 1201 New York Ave NW Ste 350 Washington DC 20005 Cathy Jones Treasurer 1.0 0 X X 0 0 0 Mark Duclos President 2.5 0 X X 0 0 0 Patricia Loveall Vice President 0.5 0 X X 0 0 0 Patrick Sentner President-Elect 0.8 0 X X 0 0 0 Robert Thornburgh CEO 37.5 0 X X 538648 0 50940 Craig Meyer Past President Representative 0.5 0 X 0 0 0 David Schiller Speaker, Chapter Leadership Council 0.5 0 X 0 0 0 Dennis Hennessy Member - At Large 0.5 0 X 0 0 0 Felix Tejada Member - At Large 0.5 0 X 0 0 0 Frederic Schneider Member - At Large 0.5 0 X 0 0 0 Gabriel Silverstein Member - At Large 0.5 0 X 0 0 0 Mark Long Member - At Large 0.8 0 X 0 0 0 Nim Frazer Member - At Large 0.5 0 X 0 0 0 Taber Thill Member - At Large 0.5 0 X 0 0 0 Terry Smith Operations Director 0.5 0 X 0 0 0 Brandon Hensley COO (BEG DATE 7/6/2021) 37.5 0 X 140106 0 30247 KARIN FENDRICH CHIEF FINANCIAL OFFICER 37.5 0 X 47410 0 23759 Robert Hammond COO 37.5 0 X 75033 0 25692 Elizabeth Koenst VP, Programs 37.5 0 X 153664 0 31196 Jennifer Johnson VP, Marketing and Communications 37.5 0 X 198024 0 34301 John Manganiello SVP, Business Development 37.5 0 X 166395 0 32088 Michael Roberts Director, Information Technology 37.5 0 X 150853 0 31000 Alexis Fermanis Director, Communications 37.5 0 X 131929 0 29675 Virginia Antevil Director, Administration & Professional Standards 37.5 0 X 111312 0 28232 1713374 0 317130 8 false true false Marcum LLP 1899 L St NW 850 Washington DC 20036 Accounting and IT Services 323958 Staging Solutions 2014 Lou Ellen Lane Houston TX 77018 Production Management 310250 Vitamin Inc 720 Light Street Baltimore MD 21230 Marketing Services 291478 WASHINGTON SPEAKERS BUREAU 1663 PRINCE STREET ALEXANDRIA VA 22314 SPEAKER FEES 268795 MDG 2445 5th Ave Suite 450 San Diego CA 92101 Digital Campaign 194033 5 45070 45070 MEMBERSHIP DUES AND FEES 900099 4236755 4236755 CONVENTIONS AND CONFERENCES 900004 1433900 861900 572000 ADVERTISING AND SUBSCRIPTIONS 541800 110381 30952 79429 EDUCATION COURSES & MTGS 900099 201515 201515 0 0 0 0 5982551 152506 152506 3612 3612 0 0 1674093 1197034 477059 0 477059 477059 8085 7218 867 867 Miscellaneous income 900099 14482 14482 0 0 0 0 14482 6676147 5331989 79429 1219659 6000 1658184 938935 42677 117699 154795 84143 331460 49467 552127 487460 557046 50271 385616 369433 1095994 121881 Training and Seminars 15181 Income Taxes and Fees 8259 66316 7092944 1134477 395902 1285734 2189071 0 177526 249510 0 0 0 0 0 18741 14871 236511 445708 1158821 1000711 238820 158110 10251640 12382505 0 0 0 0 21411 13343449 15857088 420665 770291 0 1664325 2486525 0 0 0 0 0 0 352421 597172 2437411 3853988 10906038 12003100 0 0 0 10906038 12003100 13343449 15857088 -416797 1513859 0 X false true X true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5000 0 0 0 0 false false true false Schedule C, Part I-A, Line 1 Description of Political Activities Contribution to National Association of REALTOR Corporate Ally Program. 238091 194995 43096 920730 805716 115014 158110 DEFFERED RENT AND TENANT ALLOWANCE 244475 CARES Act Loan 352697 597172 X 8256258 1513859 115719 1629578 6626680 49467 0 49467 6676147 7159196 115719 115719 7043477 49467 0 49467 7092944 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote SIOR is generally exempt from federal income taxes under the provisions of Section 501(c)(6) of the Internal Revenue Code, except on net income from activities unrelated to its exempt purpose such as advertising revenue. SIOR follows the accounting standard regarding the recognition and measurement of uncertain tax provisions. SIOR evaluated its tax positions and determined that its tax positions are more-likely-than-not to be sustained on examination. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 EMPLOYEE RETENTION CREDIT - 115719 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 EMPLOYEE RETENTION CREDIT - 115719 Europe (Including Iceland and Greenland) 0 0 Program Services Recruitment and Member Meetings 160485 0 0 0 0 0 0 160485 0 160485 false false false false false false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual X true true X X X X false false false Robert Thornburgh CEO 538359 0 0 0 289 0 30500 0 20440 0 589588 0 0 0 Brandon Hensley COO (BEG DATE 7/6/2021) 115949 0 24000 0 157 0 9807 0 20440 0 170353 0 0 0 KARIN FENDRICH CHIEF FINANCIAL OFFICER 47410 0 0 0 0 0 3319 0 20440 0 71169 0 0 0 Michael Roberts Director, Information Technology 140622 0 10000 0 231 0 10560 0 20440 0 181853 0 0 0 Elizabeth Koenst VP, Programs 142465 0 11000 0 199 0 10756 0 20440 0 184860 0 0 0 John Manganiello SVP, Business Development 148836 0 16022 0 1537 0 11648 0 20440 0 198483 0 0 0 Jennifer Johnson VP, Marketing and Communications 187461 0 10000 0 563 0 13861 0 20440 0 232325 0 0 0 Alexis Fermanis Director, Communications 121757 0 10000 0 172 0 9235 0 20440 0 161604 0 0 0 Schedule J, Part I, Line 1a Travel for companions SPOUSAL TRAVEL TO THE SPRING AND FALL CONFERENCES IS ALLOWED FOR 6 MEMBERS OF THE GOVERNANCE COMMITTEE IF IT IS DETERMINED THAT THEIR ATTENDANCE IS NEEDED FOR BUSINESS PURPOSES. REIMBURSEMENTS FOR SPOUSAL TRAVEL ARE REPORTED AS TAXABLE INCOME TO THE MEMBER AS APPROPRIATE. SPOUSAL TRAVEL FOR THE CEO IS REPORTED ON THE CEO'S FORM W2. Form 990, Part VI, Line 6 7A - ORGANIZATION MEMBERS SIOR'S MEMBERS DO NOT POSSESS THE KINDS OF RIGHTS OUTLINED IN PART VI, LINE 6 OF THE 990 INSTRUCTIONS. AS SUCH, THE ORGANIZATION HAS CHECKED "NO" TO THE QUESTIONS ON LINES 6 and 7A. Form 990, Part VI, Line 1a Delegate broad authority to a committee As provided in Article VII, Section 1 of the By-Laws, SIOR shall have a governance committee that has broad authority to act on behalf of the governing body in emergency situations when assembling the board may not be practical. Chaired by the SIOR President, the governance committee shall include the president-elect, vice president, immediate past president, the operations director, and the treasurer ex officio. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders As provided in Article XVI, Section 1 of the By-Laws, the board of directors of the National Association of Relators must approve any amendments to the SIOR By-Laws before they become effective. Form 990, Part VI, Line 11b Review of form 990 by governing body The Form 990 will be reviewed in detail by the SIOR CEO, Treasurer and Governance Committee. In addition, the Treasurer will report the results to the Board of Directors (BOD) at the next Board of Directors meeting. Form 990, Part VI, Line 12c Conflict of interest policy On an annual basis, the Board of Directors receive a copy of the Conflict of Interest Policy, and are asked to sign an acknowledgement concerning reporting of potential conflicts of interest. Board members are required to disclose any potential conflicts of interest to the Chairman of the Board immediately. Board members must refrain from voting on any such transactions where there is a potential conflict, participating in deliberations concerning it, or using personal influence in any way involving the matter. In addition, officers, directors, and key employees are required to complete a conflict of interest questionnaire annually to determine if there are any required business transactions that need to be reported on the Form 990. The questionnaires are reviewed by the Office of the EVP to determine any potential conflicts of interest. Form 990, Part VI, Line 15a Process to establish compensation of top management official SIOR uses the Governance Committee of the Board of Directors which consists of the President, President-Elect, Vice President, Immediate Past President, The Operations Director, and the Treasurer Ex Officio to determine compensation. Comparability data is used by this committee to help determine compensation. The committee determines the base salary, variable compensation, incentive compensation, other cash compensation and other benefits of the CEO and approved the terms of the Employment Agreement and any amendment thereto. Once the Employment Agreement for the Chief Executive Officer or any amendment thereto, is approved by the Compensation Committee, an Employment Agreement (or such amendment) shall be executed by the President on the behalf of SIOR. The last comparability study was completed in March 2019 and the most recent employment agreement was dated April 2019. Deliberations and decision-making with respect to the CEO's compensation are documented on a timely basis by the Compensation Committee. On an annual basis, the CEO has a performance evaluation which is used in part to determine any changes in pay (e.g. variable compensation, incentive compensation, cost of living and merit increases). The CEO compensation for the 2021 tax year was reviewed and approved in December 2020. Form 990, Part VI, Line 15b Process to establish compensation of other employees SIOR USES AN OUTSIDE CONSULTANT TO HELP DETERMINE THE COMPENSATION PACKAGE FOR THE COO. THE SIOR CEO MAKES THE FINAL DECISION REGARDING THE FINAL COMPENSATION PACKAGE. ON AN ANNUAL BASIS, THE COO HAS A PERFORMANCE EVALUATION WHICH IS USED IN PART TO DETERMINE ANY CHANGES IN PAY (E.G. VARIABLE COMPENSATION AND MERIT INCREASES). Form 990, Part VI, Line 19 Required documents available to the public Governing documents and conflict of interest policies are posted on the SIOR website. Financial statements are available upon request as deemed appropriate by the EVP. SIOR FOUNDATION 1201 NEW YORK AVE NW STE 350 WASHINGTON DC 20005 520808480 EDUCATION DC 501(c)(3) 7 SIOR true false false true false false false false false false false false false false true true false true true true SIOR FOUNDATION Q 82320 FMV SIOR FOUNDATION C 160789 BOOK VALUE SIOR FOUNDATION P 27487 BOOK VALUE