Association of Independent Mortgage Experts
Nonprofit profile at a glance
- EIN
- 824304490
- IRS 990 coverage
- 2018–2024
- Forms available
- Form 990 2024
- Location
- Clarkston, MI, USA
- Phone
- 3603355246
- Rating confidence
- Limited
- Sector
- Chambers of Commerce & Business Leagues
Reported finances
- Revenue
- $4,566,775
- Expenses
- $4,441,185
- Assets
- $746,482
- Liabilities
- $151,463
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- JONATHON HADDAD SEE SCH O (CHAIR & CEO (AS OF 4/1/24))
- MARC SUMMERS (PRESIDENT/SECRETARY)
- KATHERINE KATIE SWEENEY (PAST CHAIR & CEO (THRU 5/2/24))
Highest reported compensation
- KATHERINE KATIE SWEENEY (PAST CHAIR & CEO (THRU 5/2/24)): $233,884 total reported compensation
- CLIFF GILMORE (COO): $136,875 total reported compensation
- JENNIFER LEONARD (CMO): $129,404 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To maintain an association of experts empowered with the tools, resources, and support to successfully advise consumers nationwide on residential mortgage needs. Aime cultivates ideas, provides exclusive benefits, and impacts legislative and social progress.
What it reported doing in 2024
Aime is a membership association of independent mortgage experts. Its largest program service activity during 2024 was general support of its members to provide or connect them with the tools, resources, and connections within the industry to successfully assist consumers nationwide with residential mortgage needs. (continued on schedule o)exclusive benefits available to aime's members included training/education on topics related to establishing, operating, and building wholesale mortgage brokerage businesses ranging from individually operated to large scale operation; discounts on products and services provided by vendors supporting the broker channel, online discussion groups for seeking and sharing expertise and experience throughout the aime membership community; assistance in resolving procedural hold-ups with loans processed through aime's lender partners; and networking/referral assistance across the national broker landscape.member benefits:-a member-exclusive aime membership portal to connect members with one another across the country and provide access to discounted products and services made available by aime vendor and lender partners-regional training, education, and networking workshops held across the country-social media communities hosted by aime, exclusively for members, with weekly content and training for the purpose of providing knowledge, training, and education around topics that can help independent mortgage experts grow their businesses.-member networking opportunities via local and virtual meet ups-a weekly e-newsletter for members-weekly broker-to-broker podcast exclusively for aime members, featuring independent mortgage experts sharing best practices, success stories, and benefits of aime membership.-two weekly open invitation "mortgage mornings" webinars (one scheduled for each coast) with mortgage professionals as guests who shared expertise and experience on lender products and services, best practices for loan processing, business management, marketing, and other topics relevant to the mortgage industry- a women' s mortgage network (wmn) podcast focused on issues and challenges unique to women in the industry- broker power up podcast to provide coaching for wholesale mortgage professionals by members of aime directors and officers and professional industry coaches.-monthly webinars provide members with training around marketing, business development, and other topics to help independent mortgage experts grow their business.-exclusive member perks program that provides lists of preferred industry partners and member discounts, including: -discounted subscription fees for enhanced technology offerings. -discounted pre-education and continuing education professional services.
Operating model
- Revenue model
- Earned-program. 99% 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: 69
- Accountability: 76
- Sustainability: 29
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 85.7%; rating input score 86; 1st percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 96.7%; rating input score 97; 32nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 83.3%; rating input score 83; 16th percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 67
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 2.8%; rating input score 44; 44th percentile among comparable filings
- Total-asset coverage ratio: 0.17; rating input score 5; 5th percentile among comparable filings
- Liabilities to assets ratio: 0.2; rating input score 44; 44th percentile among comparable filings
- Officer compensation ratio: 19%; rating input score 13; 13th percentile among comparable filings
Growth
- Program expense growth: 80.5% per year; rating input score 100; 99th percentile among comparable filings
- Revenue growth: 7.7% per year; rating input score 100; 58th percentile among comparable filings
- Asset growth: 6% per year; rating input score 100; 40th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 5 of 6 board members independent · 6 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $234K · 12 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 3 contractors listed · $927K reported
- Consistency: 8 of 9 current checks pass · 1 finding to review
- Schedules: 7 filed schedules · includes major donors, grants, and executive pay
- Filing history: 6 filing years from 2018 to 2024
- Contacts: How to reach this organization
- Money network: 8 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- High — Sustainability: Total-asset coverage ratio scored 5/100.
- Moderate — Sustainability: Operating margin scored 44/100.
- High — Sustainability: Officer compensation ratio scored 13/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 44/100.