The Appraisal Institute of America Inc
Nonprofit profile at a glance
- EIN
- 133243728
- IRS 990 coverage
- 2013–2024
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Phone
- 2128895404
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Chambers of Commerce & Business Leagues
Reported finances
- Revenue
- $842,285
- Expenses
- $765,511
- Assets
- $1,787,302
- Liabilities
- $912,050
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
23 people listed
Executive titles in this filing
- EDWARD YEE (PRESIDENT)
- MOLLY SEILER (1ST VICE PRESIDENT)
- SUSAN HUNTER (2ND VICE PRESIDENT)
- SHARON CHRUST (IMMEDIATE PAST PRESIDENT)
- LINDA SELVIN (EXECUTIVE DIRECTOR)
Highest reported compensation
- LINDA SELVIN (EXECUTIVE DIRECTOR): $194,308 total reported compensation
- CYNTHIA D HERBERT (DIRECTOR): $21,042 total reported compensation
- SHARON CHRUST (IMMEDIATE PAST PRESIDENT): $8,500 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
See schedule o
What it reported doing in 2024
The aia provides educational programming for all levels of membership and to the general public in the areas of connoisseurship and theory and methodology. Additionally, the aia offers a certificate course titled the comprehensive appraisal studies program. Casp provides prospective appraisers and arts professionals with limited art market experience--such as museum staff (directors, curators, collections managers, registrars), insurance professionals (brokers and adjusters), conservators, attorneys, IRS personnel, finance professionals, and others--with a thorough understanding of the practices and standards required to become qualified appraisers. The program develops the essential knowledge and competencies needed to evaluate and appraise fine and decorative arts, as well as other types of personal property.
Operating model
- Revenue model
- Earned-program. 79% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 74
- Transparency & Controls: 70
- Accountability: 97
- Sustainability: 52
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 82.6%; rating input score 83
- Program expense ratio: 78.9%; rating input score 79
- Fundraising efficiency: $3.48 raised per $1 spent on fundraising; rating input score 11; 11th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 95.5%; rating input score 95; 25th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 9.1%; rating input score 59; 59th percentile among comparable filings
- Total-asset coverage ratio: 2.33; rating input score 69; 69th percentile among comparable filings
- Liabilities to assets ratio: 0.51; rating input score 15; 15th percentile among comparable filings
- Officer compensation ratio: 19.6%; rating input score 15; 15th percentile among comparable filings
Growth
- Program expense growth: 2.8% per year; rating input score 100; 31st percentile among comparable filings
- Revenue growth: 2.1% per year; rating input score 100; 25th percentile among comparable filings
- Asset growth: 12% per year; rating input score 100; 65th percentile among comparable filings
Details
- Where the money goes: 82.6% of revenue deployed · 78.9% of spending went to programs
- Governance: 21 of 22 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $604K in reported program spending
- Leadership: top reported pay $194K · 23 people listed · 1 of 6 pay-setting controls reported
- Consistency: 27 of 27 current checks pass
- Schedules: 7 filed schedules · includes major donors and executive pay
- Filing history: 9 filing years from 2013 to 2024
- Contacts: How to reach this organization
- Money network: 12 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 — Financial Efficiency: Fundraising efficiency scored 11/100.
- Review — Sustainability: Operating margin scored 59/100.
- High — Sustainability: Liabilities to assets ratio scored 15/100.
- High — Sustainability: Officer compensation ratio scored 15/100.