The North Shore – Barrington Association of REALTORS® (NSBAR) is comprised of three corporations:
The North Shore – Barrington Association of REALTORS®, Inc (NSBAR) is the parent company and a 501(c)(6) corporation. Section 501(c)(6) of the Internal Revenue Code provides an exemption from taxes for business leagues, chambers of commerce, real estate boards, boards of trade and professional football leagues, which are not organized for profit and from which no part of its net earnings inures to the benefit of any private shareholder or individual.
The North Shore – Barrington Multiple Listing Corporation is a subsidiary of NSBAR and a standard taxpaying corporation. Multiple Listing Service (MLS) fees (as well as some other income sources) are considered unrelated business income (UBIT) and taxable even for exempt organizations. NSBAR runs most taxable items through this corporation, such as lock boxes, Board Store items, etc.
The North Shore – Barrington Holding Company is also a subsidiary of NSBAR and a standard taxpaying corporation. It houses the NSBAR Referral Network and any organizations NSBAR may provide association management services to and be compensated for.