SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2023
Open to Public
Inspection
Name of the organization
KANSAS CITY REGIONAL ASSOCIATION OF
REALTORS
Employer identification number

48-0614685
Return Reference Explanation
FORM 990, PART VI, SECTION A, LINE 1A THE FUNCTION OF THE EXECUTIVE COMMITTEE IS TO TRANSACT BUSINESS WHICH IS WITHIN THE AUTHORITY OF THE BOARD OF DIRECTORS UNDER THE BYLAWS AND WHICH IS OF AN URGENT NATURE BETWEEN MEETINGS OF THE BOARD OF DIRECTORS, AND WHICH IN THE OPINION OF THE PRESIDENT, OR THE MAJORITY OF THE EXECUTIVE COMMITTEE, DOES NOT REQUIRE A DECISION OF THE ENTIRE BOARD OF DIRECTORS. ANY AND ALL SUCH ACTIONS OF THE EXECUTIVE COMMITTEE SHALL BE REPORTED IN FULL TO THE BOARD OF DIRECTORS AT THE NEXT MEETING THEREOF AND SAID DIRECTORS SHALL RATIFY, CONFIRM OR OVERRULE ALL SUCH ACTIONS. THE EXECUTIVE COMMITTEE SHALL CONDUCT AN ANNUAL PERFORMANCE REVIEW OF THE CEO AND SHALL HAVE THE AUTHORITY TO DETERMINE THE COMPENSATION AND ALL OTHER CONTRACTUAL MATTERS RELATED TO THE CEO.
FORM 990, PART VI, SECTION A, LINE 6 KCRAR IS A MEMBERSHIP ORGANIZATION WITH SEVEN (7) CLASSES OF MEMBERS - REALTOR MEMBERS (PRIMARY AND SECONDARY), INSTITUTE AFFILIATE MEMBERS, AFFILIATE MEMBERS, HONORARY MEMBERS, RETIRED MEMBERS, AND LIFE MEMBERS.
FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ARE RESPONSIBLE FOR ELECTING THE BOARD OF DIRECTORS.
FORM 990, PART VI, SECTION A, LINE 7B MEMBERS ARE RESPONSIBLE FOR VOTING ON CHANGES TO THE BYLAWS.
FORM 990, PART VI, SECTION B, LINE 10B KCRAR HAS SEVERAL CHAPTERS THAT MEET TO PROMOTE KCRAR IN THEIR GEOGRAPHICAL AREAS AND PERFORM LOCAL COMMUNITY IMPROVEMENT PROJECTS. THESE CHAPTERS DO NOT HAVE SEPARATE RULES AND REGULATIONS BUT ARE EXPECTED TO FOLLOW ALL POLICIES AND PROCEDURES ESTABLISHED BY KCRAR.
FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE CEO AND VP OF FINANCE. THE BOARD OF DIRECTORS AND EXECUTIVE COMMITTEE IS ALERTED THAT THE FORM HAS BEEN PREPARED. MEMBERS, DIRECTORS, AND EXECUTIVE COMMITTEE MEMBERS CAN REVIEW A COPY ON THEIR OWN OR SCHEDULE A MEETING TO REVIEW WITH THE CEO OR VP OF FINANCE.
FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE GOVERNING BODY ARE PROVIDED WITH A COPY OF THE CONFLICT OF INTEREST POLICY AT THE FIRST BOARD OF DIRECTORS MEETING HELD EACH YEAR. EACH MEMBER IS REQUIRED TO SIGN THE DOCUMENT.
FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE NEGOTIATES AN EMPLOYMENT CONTRACT WITH THE CEO. INFORMATION IS OBTAINED FROM VARIOUS SOURCES INCLUDING THE NATIONAL ASSOCIATION OF REALTORS AND LOCAL INFORMATION. THE CEO MAKES ALL DECISIONS REGARDING EMPLOYEES OF THE ASSOCIATION BASED ON A BUDGET WHICH HAS BEEN APPROVED BY THE GOVERNING BODY.
FORM 990, PART VI, SECTION C, LINE 19 THE BYLAWS, WHICH INCLUDE THE CONFLICT OF INTEREST POLICY, ARE AVAILABLE ON OUR WEBSITE FOR MEMBERS TO VIEW. FINANCIAL STATEMENTS ARE AVAILABLE TO OUR MEMBERS UPON REQUEST.
FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF HMLS INVESTMENT 933,601.
FORM 990, PART XII, LINE 2C: THE BUDGET AND FINANCE COMMITTEE IS RESPONSIBLE FOR SELECTION OF THE INDEPENDENT ACCOUNTANT AND OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) 2023


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