Appraisal Institute

Nonprofit profile at a glance

EIN
363739643
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3123354100
Rating confidence
Limited

Official website

Reported finances

Revenue
$18,198,258
Expenses
$20,565,808
Assets
$34,434,603
Liabilities
$19,925,482

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

33 people listed

Executive titles in this filing

  • SANDRA K ADOMATIS SRA (PRESIDENT)
  • PAULA K KONIKOFF MAI AIGRS (PRESIDENT ELECT)
  • MICHAEL ACQUARO-MIGNOGNA (VICE PRESIDENT)
  • CRAIG STEINLEY (IMMEDIATE PAST PRESIDENT)
  • CYNTHIA CHANCE (CEO (END 9/13/24))
  • JOHN UDELHOFEN (INTERIM CEO)

Highest reported compensation

  • CYNTHIA CHANCE (CEO (END 9/13/24)): $429,651 total reported compensation
  • JEFFREY LISKAR ESQUIRE (GENERAL COUNSEL): $383,977 total reported compensation
  • BEATA SWACHA (FORMER CFO): $216,333 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission is to empower valuation professionals through community, credentialing, education, body of knowledge and ethical standards.

What it reported doing in 2024

The appraisal institute is the world's largest publisher of real estate appraisal literature. In addition to a series of general reference books, every year the appraisal institute adds to its extensive list of publications (including digital publications), covering contemporary practice issues, advances in methodology and technology, and the valuation of a wide range of special purpose properties. In 2024, the appraisal institute sold over 6,000 books. The appraisal institute also publishes the appraisal journal, valuation magazine and appraiser news online. The peer-reviewed journal has served as the top forum for appraisal professionals and has become the most frequently referenced periodical in appraisal literature. Valuation magazine focuses on innovative features and practical ideas. Appraiser news online keeps appraisers abreast of industry trends as well as legislative and regulatory matters impacting appraisers.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 77
  • Accountability: 82
  • Sustainability: 25
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 84%; rating input score 84; 18th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -13%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 1.67; rating input score 55; 55th percentile among comparable filings
  • Liabilities to assets ratio: 0.58; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 11.5%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 0.3% per year; rating input score 100; 9th percentile among comparable filings
  • Asset growth: 6.6% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 21 of 25 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $430K · 33 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $767K reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 8 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 55/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.