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The National Association of REALTORS® is providing the facts after a recent article in The New York Times mischaracterized a nonprofit, nonpartisan organization that receives NAR funding.
NAR says the portrayal of the American Property Owners Alliance is not only biased but, at times, factually incorrect.
“In advance of this article, we provided detailed answers and extensive context to improve [the reporter’s] understanding of the advocacy universe and the amazing work our advocacy team does to support the real estate industry, empower REALTORS® and advance the right to real property for all,” says NAR President Kevin Sears.
Here’s how NAR says the Times’ reporting misses the mark.
NYT MYTH: APOA is a shadowy “pass-through” advocacy organization for NAR.
FACT: NAR publicly announced the launch of APOA in 2020 with a press release and media push and periodically promotes its work through NAR channels, like REALTOR® Magazine. The association funds APOA through an annual grant, which is fully transparent to NAR members and the public. NAR appoints board members to the APOA Board of Directors, which operates independently and without oversight from the association.
NYT MYTH: Nearly $10 million in APOA grants went to Republican-aligned super PACs and groups with conservative agendas.
FACT: This is incorrect. The only “super PAC giving” NYT cites is $100,000 to Opportunity Matters, which is, in fact, not a super PAC. Opportunity Matters is a 501(c)(4) organization. APOA does not engage in political activity as defined by the IRS.
NYT MYTH: APOA was conceived and created by one individual through a “quiet” internal process.
FACT: APOA was launched to focus on property owners exclusively. The idea for the organization emerged in 2019 from an NAR working group tasked with assessing how to modernize the association’s approach to advocacy. APOA was one of several recommendations made by the working group and was approved by NAR’s board of directors in November 2019 at NAR’s Annual Convention in a vote of 771 to 22.
NYT MYTH: APOA is a “slush fund” for NAR to funnel untraceable “dark money” to outside groups.
FACT: “Dark money” is a term that refers to shielding political spending from reporting requirements and other public transparency obligations connected to registered political entities. NAR and APOA disclose all required advocacy-related expenditures in full compliance with all legal and regulatory requirements—which is how the Times has access to this data in the first place. NAR political expenditures are available at FEC.gov, and each organization’s Form 990 is filed with the IRS annually.
NYT MYTH: APOA’s giving is not consistent with the organization’s tax-exempt status.
FACT: Through all its program activities, APOA has acted in a manner consistent with that of a section 501(c)(4) advocacy organization. Moreover, APOA’s program activity to date is consistent with its stated mission of advocating for the rights of property owners. In addition to its own direct advocacy activities, APOA works in coalitions and provides financial support to other organizations that will benefit property owners. The support for these other organizations with interests aligned with APOA ultimately works to advance APOA’s own policy agenda, and the work of these grant recipients has a direct impact on property owners and their rights.
NYT MYTH: APOA gives a disproportionate amount to conservative organizations.
FACT: APOA has an issues-based grantmaking process to organizations on both sides of the aisle. Cherry-picking data can tell one story, but a holistic review of APOA giving reveals that its giving is split and changes from year to year based on current priorities. For example, in 2023, more than 70% of APOA grant disbursements were made to left-leaning organizations. APOA also does much more by way of advocacy than grants alone.
Both NAR and APOA are nonpartisan organizations, and their expenditures across the political spectrum reflect the industry’s support for organizations and policymakers who champion policies that are important to consumers and real estate practitioners. In addition to groups like One Nation and the American Action Network, NAR works with groups like National Fair Housing Alliance, Mobility Works, National Housing Conference, Up for Growth Action, National Community Reinvestment Coalition, National Homelessness Law Center, International Association of Official Human Rights Agencies, MLK Memorial Foundation and the Thurgood Marshall College Fund.
REALTORS® Political Action Committee (RPAC) political giving is split evenly between Republicans and Democrats. These expenditures are searchable at FEC.gov. You also can see RPAC reporting and NAR Congressional Fund reporting.
NYT MYTH: NAR is giving an enormous proportion of its net revenue to APOA.
FACT: NAR’s grants to APOA reflect the importance of property ownership to NAR members and the association’s overall mission. APOA will receive a $6.6 million grant in 2025 to fund its advocacy efforts. This is a planned expense that is vetted through NAR’s governance channels and will be reported in future expenditure disclosures. In no way does this grant represent a disproportionate amount of NAR’s budget.
REALTOR® Magazine recently published an article highlighting APOA’s work and its priorities heading into 2025. The article explains that “APOA operates independently and is governed separately from NAR.” Additional information about APOA can be found on its website and social platforms.
“The American Property Owners Alliance exists to help property owners make their voices heard,” APOA Executive Director Colin Allen says. “Our issue-based grant making has nothing to do with partisanship and everything to do with protecting property rights. We work across the spectrum to get it done and our efforts go far beyond grants. Instead of focusing on a biased narrative, we're continuing to focus on what really matters—housing supply and affordability, first-time homebuying, home equity theft, federal taxation, fair housing and infrastructure.”