The New York Times published an investigation on November 18, 2024, spotlighting the lavish spending and perks of the National Association of Realtors (NAR), raising questions about their compliance with U.S. tax laws governing nonprofits. Key findings include:
Leadership Perks: NAR volunteer leaders receive high stipends and benefits such as corporate credit cards for expensive dinners, golf outings, and tickets to Broadway shows.
Former CEO Benefits: Former CEO Bob Goldberg earned $2.6 million annually, with additional perks like private club memberships in Chicago and Washington, and up to $75,000 for country club fees near his Maryland home. Goldberg may also still be receiving consultant payments.
Legal Concerns: Nonprofit lawyers expressed doubts about the legality of these expenses, suggesting they could jeopardize NAR's tax-exempt status.
Membership Discontent: Amidst questions about its value, NAR is trying to rebuild trust with members who pay annual dues to support the organization.
The investigation utilized tax filings, interviews with former and current NAR employees, and confidential documents. NAR declined to comment on the report’s findings but defended the leadership's compensation as reflective of their time commitment and personal sacrifices.
This report adds to ongoing scrutiny of NAR’s leadership and financial practices, particularly as members reassess the organization’s contributions.
