Appraisal Institute
- Assets
- $30.9m
- Revenue
- $23.1m
- Investments
- $0.0
- Employees
- 105
- Location
- Chicago, IL
- Founding
- 09/1992
- Data as of
- 12/2022
- EIN
- 36-3739643
Organization Overview
Appraisal Institute is located in Chicago, IL. The organization was established in 1992. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Appraisal Institute employed 105 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Appraisal Institute is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Appraisal Institute generated $23.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $20.3m during the year ending 12/2022. While expenses have increased by 0.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO EMPOWER VALUATION PROFESSIONALS THROUGH COMMUNITY, CREDENTIALING, EDUCATION, BODY OF KNOWLEDGE AND ETHICAL STANDARDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOTAL MEMBERSHIP AS OF DECEMBER 31, 2022 WAS NEARLY 16,000, INCLUDING ACTIVE DESIGNATED MEMBERS, CANDIDATES FOR DESIGNATION, PRACTICING AFFILIATES AND AFFILIATES, AS WELL AS RETIRED DESIGNATED MEMBERS AND LIFE DESIGNATED MEMBERS. THE APPRAISAL INSTITUTE CONFERS THE MAI, SRA, AI-GRS AND AI-RRS MEMBERSHIP DESIGNATIONS, THE REQUIREMENTS FOR WHICH ARE RIGOROUS. EACH MEMBER OF THE APPRAISAL INSTITUTE SHALL ABIDE BY, UPHOLD AND CONFORM THEIR ACTIONS TO THE BYLAWS, REGULATIONS, CODE OF PROFESSIONAL ETHICS AND STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE OF THE APPRAISAL INSTITUTE. THE ORGANIZATION LED THE PROFESSION IN FOSTERING AND PROMOTING THE HIGHEST STANDARDS OF PRACTICE THROUGH ITS DESIGNATION PROGRAMS, PEER REVIEW PROCESS, EDUCATION, RESEARCH, AND PUBLISHING ENDEAVORS.
AS THE LEADER IN REAL PROPERTY APPRAISER EDUCATION, THE APPRAISAL INSTITUTE OFFERS AN EXTENSIVE CURRICULUM OF INTRODUCTORY AND ADVANCED COURSES, AS WELL AS A WIDE RANGE OF SEMINARS ON SPECIALTY TOPICS. THESE PROGRAMS ARE DESIGNED TO ADDRESS THE NEEDS OF ALL REAL ESTATE APPRAISERS, RANGING FROM THOSE JUST ENTERING THE PROFESSION AND EARNING CREDIT TOWARD STATE LICENSING OR CERTIFICATION, TO SEASONED PRACTITIONERS WHO WISH TO KEEP ABREAST OF THE LATEST TECHNIQUES AND DEVELOPMENTS. MANY OF THESE PROGRAMS ALSO SERVE TO HELP OTHER INDUSTRY PROFESSIONALS GAIN FURTHER INSIGHT AND UNDERSTANDING OF REAL ESTATE VALUATION TECHNIQUES AND PROCESSES. IN 2022, THE APPRAISAL INSTITUTE SERVED OVER 28,000 STUDENTS THROUGH MORE THAN 1,300 COURSES AND SEMINARS.
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 2022, THE APPRAISAL INSTITUTE SOLD OVER 12,000 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Albert W Franke III Mai Sra Director | Trustee | 2 | $0 |
Claire M Aufrance Mai Sra Director | Trustee | 2 | $0 |
Elaine Liz-Ramirez Mai Ai-Grs Director | Trustee | 2 | $0 |
Frank R Molinari Sra Director | Trustee | 2 | $0 |
Heather Placer Mull Mai Sra Director | Trustee | 2 | $0 |
James T Ferstl Mai Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sandstorm Design Inc Professional Services | 12/30/22 | $219,614 |
Cm Harrington & Associates Professional Services | 12/30/22 | $136,340 |
Rich Feuer Anderson Consulting Fees | 12/30/22 | $130,000 |
Impact Training Professional Services | 12/30/22 | $128,000 |
Apco Worldwide Llc Professional Services | 12/30/22 | $120,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $10,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,122,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,132,500 |
| Total Program Service Revenue | $18,865,627 |
| Investment income | $417,207 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $206,309 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $123,840 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,134,340 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $512,945 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,607,507 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,616,287 |
| Pension plan accruals and contributions | $341,224 |
| Other employee benefits | $708,068 |
| Payroll taxes | $605,038 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $217,197 |
| Fees for services: Accounting | $35,819 |
| Fees for services: Lobbying | $120,449 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,000 |
| Fees for services: Other | $1,101,521 |
| Advertising and promotion | $486,323 |
| Office expenses | $527,416 |
| Information technology | $814,789 |
| Royalties | $398,637 |
| Occupancy | $779,328 |
| Travel | $482,271 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,537,084 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $511,664 |
| Insurance | $227,494 |
| All other expenses | $200,297 |
| Total functional expenses | $20,276,526 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,860,555 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $157,289 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $104,213 |
| Prepaid expenses and deferred charges | $196,325 |
| Net Land, buildings, and equipment | $2,237,734 |
| Investments—publicly traded securities | $16,965,640 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,420,633 |
| Total assets | $30,942,389 |
| Accounts payable and accrued expenses | $2,299,488 |
| Grants payable | $0 |
| Deferred revenue | $6,828,264 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $3,460,455 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,728,670 |
| Total liabilities | $15,316,877 |
| Net assets without donor restrictions | $13,574,730 |
| Net assets with donor restrictions | $2,050,782 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $30,942,389 |