Appraisal Institute
- Assets
- $571.7k
- Revenue
- $274.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Chicago, IL
- Founding
- 09/1992
- Data as of
- 12/2021
- EIN
- 95-2566221
Organization Overview
Appraisal Institute is located in Chicago, IL. The organization was established in 1992. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is a subordinate organization within 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 12/2021, Appraisal Institute generated $274.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.7%) each year. All expenses for the organization totaled $181.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (13.2%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EMPOWER VALUATION PROFESSIONALS THROUGH COMMUNITY CREDENTIALING EDUCATION BODY OF KNOWLEDGE AND ETHICAL STANDARDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION - THE APPRAISAL INSTITUTE PROVIDES A CURRICULUM OF COURSES AND SEMINARS FOR RESIDENTIAL AND COMMERCIAL REAL ESTATE APPRAISAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Henry Mai President | OfficerTrustee | 5 | $0 |
Jacinto Munoz Mai Sra Ai Grs Rrs Vice President | OfficerTrustee | 5 | $0 |
Linda Whittlesey Sra Treasurer | OfficerTrustee | 5 | $0 |
Adam Bogorad Mai Secretary | OfficerTrustee | 5 | $0 |
Ernesto Lopez Mai Ai Grs Director | Trustee | 1 | $0 |
Norman Chung Mai Ai Grs Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $26,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,905 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,905 |
| Total Program Service Revenue | $236,845 |
| Investment income | $4,387 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $274,137 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $87,016 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,532 |
| Payroll taxes | $6,844 |
| Fees for services: Management | $4,652 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $13,860 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $13,357 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,600 |
| Travel | $1,972 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,674 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $181,891 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $217,156 |
| Savings and temporary cash investments | $262,399 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $90,843 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,293 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $571,691 |
| Accounts payable and accrued expenses | $727 |
| Grants payable | $0 |
| Deferred revenue | $95,010 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $0 |
| Total liabilities | $95,737 |
| Net assets without donor restrictions | $475,954 |
| Net assets with donor restrictions | $0 |
| 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 | $571,691 |
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|---|---|---|
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