"The working group, which was first formed this past spring, is pushing for a variety of reforms within NAR, who, for its part, has made a public commitment to improve transparency. One major area of focus for the working group is NAR's financial situation, and as part of these efforts, the working group has proposed new standards for reporting what monies NAR collects and how it is spent, including salaries, fringe benefits and programs like Second Century Ventures."
"Central to the working group's push for change is the fact that NAR has yet to publish its 2024 Form 990. Of the largest nonprofits, they are one of the few that have yet to file. They almost always file at the very last possible extension, Duffy said. It is embarrassing. No financial information is released to members about the prior year until 10 and a half months into the next year."
The working group formed in spring is pressing for reforms within NAR and seeking improved transparency. The group focuses on NAR's financial reporting and has proposed standards for disclosing collected monies, expenditures, salaries, fringe benefits and program spending such as Second Century Ventures. NAR has not yet published its 2024 Form 990 and typically files at the last extension, delaying member access to prior-year financial information until about ten and a half months into the next year. Comparisons note other large nonprofits filed Form 990s much earlier. The 2024 disclosure revealed controversial perks for former CEO Bob Goldberg.
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