2007 DUES FAQ

What does “2007 NAR P.A. Prog *MANDITORY*” mean on my bill?
What does “2007 IAR Advocacy *MANDITORY*” mean on my bill?
What is considered Deductible/Non-Deductible Dues for the 2007 year?
If I am enrolled in Auto-Pay, how can I alter my RPAC contribution amount?
Am I required to make a RPAC Contribution of $45?
What is the deadline for paying dues?
Will I get charged late fees if I don’t pay my dues on time?
Designated REALTOR® Dues Formula (Applies only to Designated REALTORS®)
I heard that NSBAR members are being offered a free subscription to Metro Chciago Real Estate Magazine, whats that all about?
What are some things that NSBAR offers?
I have another question or concern that is not addressed by this FAQ, what should I do?

What does “2007 NAR P.A. Prog *MANDITORY*” mean on my bill?
This is part of your 2007 NAR dues that is mandatory for all REALTORS® to fund a nationwide public awareness campaign that includes TV network and cable ads highlighting the value a REALTOR® brings to transaction and stressing the importance of using a REALTOR®. The campaign assessment will continue through 2007. NOTE: The entire $30 for this program qualifies as deductible dues. Visit the NAR website for more details Click Here (http://www.realtor.org/pac.nsf/pages/pachome)

What does “2007 IAR Advocacy *MANDITORY*” mean on my bill?
This is part of your 2007 IAR dues that is mandatory for all REALTORS® to fund the advocacy initiative to provide IAR the resources to give members and our GADs (Governmental Affair Directors) the advocacy tools they need to succeed, and enhance our ability to take our message to the people, policy makers and the media. Click Here (www.nsbar.org/documents/advocacy.pdf) for more details.

What is considered Deductible/Non-Deductible Dues for the 2007 year?
NAR – 23% ($15 of the $64 National Dues) is allocated to lobbying and is non-deductible for federal income tax purposes as an ordinary and necessary business expense.
IAR - 35% ($52 of the combined $99 IAR Dues and $50 Advocacy Initiative Assessment) is allocated to lobbying and is non-deductible for federal income tax purposes as an ordinary and necessary business expense.
RPAC – 100% ($45 of the suggested $45 contribution) is a political contribution and is not tax deductible.
NSBAR - 0.3% ($.50 for the $150.00 Local Dues) is non-deductible.  

Note: Payments or contributions to your local Board of REALTORS®, the Illinois Association of REALTORS®, and the Illinois RPAC are not deductible as charitable contribution for federal income tax purposes. Local, State and National dues may be deductible as a business expense. If you are unclear about anything, please consult your tax advisor.

	Non-Deductible	Deductible	TOTALS
National Dues	$15.00	$79.00	$94.00
State Dues	$52.00	$97.00	$149.00
Local Dues	$00.50	$149.50	$150.00
Dues Total	$67.50	$325.50	$393.00
RPAC Contribution	$45.00 (or as specified)	$0.00	$45.00
TOTALS	$112.50	$325.50	$438.00

Click Here (http://www.nsbar.org/documents/dues_explained.pdf) for the flyer that contains all the relevant 2007 dues information

If I am enrolled in Auto-Pay, how can I alter my RPAC contribution amount?
You can alter the amount of your RPAC contribution by calling our office at (847 480-7177) and requesting a RPAC contribution reference number.

DEADLINE:The deadline for auto-pay enlistees to alter their RPAC contribution is December 9 th. If by that time we have not received notification of your intention to alter your contribution amount, we will assume a $45 donation is acceptable and process your donation as such. Refunds on RPAC donation will not be granted.

Am I required to make a RPAC Contribution of $45?
When submitting payment, you can adjust your total to reflect your desired RPAC donation. If we receive payment information without a total designated, we will assume a contribution of $45. RPAC, the REALTORS® Political Action Committee, collects contributions from members and uses those funds to help elect candidates for public office who are supportive of home ownership, private property right, and the real estate industry. Contributions to RPAC are not deductible for Federal income tax purposes. Contributions to RPAC are voluntary, and you may refuse to contribute without affecting your membership rights. Your request to alter your contribution amount must be received prior to your payment being processed. Refunds will not be given after your donation has been processed.  

What is the deadline for paying dues?
The due date for payment is January 1 st 2007, after which there is a 26-day grace period. If your dues are not paid by January 27 th, your account will be suspended meaning that your services offered to you through the board ( MLS, Supra, and other services) will be temporarily suspended pending receipt of full payment for your outstanding balance. Payment must be received and processed before your services are reactivated.

Will I get charged late fees if I don’t pay my dues on time?
Yes. If your dues are not paid in full there will be an additional $25 per month late fee accessed to your on the first of every consecutive month starting February 1 st 2007. This late fee is non-negotiable and will not be removed under any circumstances.

Designated REALTOR® Dues Formula (Applies only to Designated REALTORS®)
Your dues statement will reflect your dues and any non-member licensee(s) associated with your office(s). “Non-Member Licensees” are those people listed on your bill with the statement “DR Dues Formula” billing. As these people are not members of the Board, payment for dues cannot be accepted from these people directly. Any personal checks received from “Non-Member Licensees” will be returned to your office. Only your firm’s checks will be accepted for these“Non-Member Licensees”

I heard that NSBAR members are being offered a free subscription to Metro Chciago Real Estate Magazine, whats that all about?
See the following web page for more information regarding the magazine subscription Click Here (www.nsbar.org/documents/mcre.pdf)

What are some things that NSBAR offers?
Click Here (www.nsbar.org/documents/nsbar_services.pdf ) to learn more about our member services.

I have another question or concern that is not addressed by this FAQ, what should I do?
Call our office at (847) 480-7177 and ask to speak to our accounting department to clarify any other issues you may have.