The Core Network EIN 33-0705166

The Core Network FY2021 filing

EIN  33-0705166 Business league / trade association Virginia Beach, VA
Form 990 (PDF)
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Size
<$100K
What they do
Helps real estate agents with marketing and research services.
Leadership
Rachel Krupnick · Executive Director · $32K
Money in and out
$32K revenue, $93K expenses
Bottom line
-189% operating surplus

Helps real estate agents with marketing and research services. For fiscal year 2021 it reported $32K in revenue, $93K in expenses, and $147K in net assets.Pt I

Membership & operating revenue · FY2021
Total revenue
$32K
Pt VIII · Ln 12
Total expenses
$93K
Pt IX · Ln 25
Net assets
$147K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$61K
Where spending went · Part IX cols B–D
Program services $1.00
Operating surplus
-189%
revenue over expenses
Earned revenue
100%
of revenue from program services & dues
Payroll share
46%
of spending is salaries & benefits

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$32K
FY2021
Expenses
$93K
FY2021▲ +58%
Total assets
$147K
FY2021▼ -29%
Total liabilities
$0
FY2021
Total revenue
$32K
Pt VIII · Ln 12
Total expenses
$93K
Pt IX · Ln 25
Net assets
$147K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$61K
Total assetsPt X · Ln 16$147K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

2 program services account for $93K of program spending, described in the organization's own filed words · FY2021.
01

Meetings and special events including national & regional conferences for members and potential members. Speakers specializing in the commercial real estate arena gave presentations of interest to all attendees. All member firms participated.

$93Kprogram expense
02

Research and information processing including quarterly research report for all members including market analysis in 46 us markets. This project assited all member firms.

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CThe Core Network
EINHdr · item D33-0705166
Principal addressHdr · item CVirginia Beach, VA
WebsiteHdr · item Jwww.corenetworkcre.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MVA
Exempt statusHdr · item I501(c)(6) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFSep 1997

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$31,658Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2023FY2022FY2021FY2020
Rachel Krupnick$25,981$32,480$31,658$30,705

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Program service revenue100%$32K
Total revenueLn 12$32K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$93K
Total functional expensesLn 25$93K

Balance Sheet

Part X · end of year
CashLn 1$140K
Total assetsLn 16$147K
Total liabilitiesLn 26$0
Total net assetsLn 32$147K
Months of cash on handcomputed18.1

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $140K · Operating expenses/yr $93K
18.1 months
Where the money goes
Program services
Program services $93K · Total expenses $93K
100%
Management & General
Management & general $0 · Total expenses $93K
0%
Fundraising
Fundraising $0 · Total expenses $93K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $32K
0%
Government reliance
Government grants — · Total revenue $32K
Earned-income share
Program service revenue $32K · Total revenue $32K
100%
Investment reliance
Investment income $0 · Total revenue $32K
0%
Program self-sufficiency
Program service revenue $32K · Total expenses $93K
35%
Growth & trend
Revenue growth (YoY)
This year $32K · Prior year $0
Prior-year revenue below floor — showing dollar change
Net-asset trend (YoY)
End of year $147K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $32K · Expenses $93K
-189%
Liabilities-to-Assets
Total liabilities — · Total assets $147K
Net-asset ratio
Net assets $147K · Total assets $147K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $147K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Rachel Krupnick · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $32K · Total expenses $93K
34%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $43K · Total expenses $93K
46%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Accounting fee ratio 4%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$544 revenue · ⤓ 990 PDF
FY2024$0 revenue · ⤓ 990 PDF
FY2023$32K revenue · ⤓ 990 PDF
FY2022$30K revenue · ⤓ 990 PDF
FY2021$32K revenue · viewing · ⤓ 990 PDF
FY2020$0 revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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