Nonprofit · EIN 36-3739643
APPRAISAL INSTITUTE
Tax-exempt · CHICAGO, IL 60606
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $18,198,258 | $20,565,808 | -$2,367,550 | $34,434,603 | $19,925,482 | $14,509,121 |
| December 31, 2023 | 990 | $19,912,698 | $21,003,883 | -$1,091,185 | $32,179,969 | $16,403,674 | $15,776,295 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $127,500
- Program service revenue
- $17,153,445
- Investment income
- $917,313
- Net gain from sales of assets
- $353,427
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $448,562
- Compensation of officers, directors and key employees
- $1,048,022
- Other salaries and wages
- $6,904,021
- Salaries, compensation and benefits (total)
- $9,727,882
- Professional fundraising fees
- $0
- Legal fees
- $263,714
- Accounting fees
- $54,471
- Occupancy
- $677,437
- Travel
- $768,773
- Depreciation
- $745,285
Balance sheet and other
- Total assets, start of year
- $32,179,969
- Total assets, end of year
- $34,434,603
- Total liabilities, end of year
- $19,925,482
- Net assets, end of year
- $14,509,121
- Land, buildings and equipment
- $5,478,310
- Publicly traded securities
- $16,765,540
- Net assets without donor restrictions
- $11,820,760
- Net assets with donor restrictions
- $2,688,361
- Gross receipts
- $23,040,929
- Employees
- 118
- Volunteers
- 197
- Year formed
- 1991
- State of legal domicile
- IL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CYNTHIA CHANCE | CEO (END 9/13/24) Officer | 50 | $407,411 | $22,240 |
| JEFFREY LISKAR ESQUIRE | GENERAL COUNSEL Highest-paid employee | 45 | $347,600 | $36,377 |
| BEATA SWACHA | FORMER CFO Former | 0 | $216,333 | $0 |
| CHRISTINA MITAKIS | ASSOCIATE GENERAL COUNSEL Highest-paid employee | 45 | $192,473 | $16,098 |
| STEPHEN WAGNER | DIRECTOR, ETHICS AND STANDARDS Highest-paid employee | 37.5 | $176,064 | $23,012 |
| SANDRA K ADOMATIS SRA | PRESIDENT Trustee or director, Officer | 40 | $157,000 | $0 |
| ALISSA AKINS | DIRECTOR, EDUCATION Highest-paid employee | 45 | $143,923 | $12,320 |
| JOHN UDELHOFEN | INTERIM CEO Officer | 50 | $143,621 | $6,250 |
| SCOTT DIBIASIO | DIRECTOR, GOVERNMENT RELATIONS Highest-paid employee | 45 | $133,244 | $13,698 |
| PAULA K KONIKOFF MAI AIGRS | PRESIDENT ELECT Trustee or director, Officer | 20 | $110,900 | $0 |
| MICHAEL ACQUARO-MIGNOGNA | VICE PRESIDENT Trustee or director, Officer | 20 | $100,300 | $0 |
| CRAIG STEINLEY | IMMEDIATE PAST PRESIDENT Trustee or director, Officer | 20 | $100,300 | $0 |
| MICHAEL HINNANT SRA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| DARWIN ERNST SRA AI-RRS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| LINDEL D SCHULZE MAI AI-GRS | DIRECTOR Trustee or director | 2 | $0 | $0 |
18 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TINA MINDEMANN SRA AI-RRS | DIRECTOR Trustee or director | 2 | $0 |
| JASON MESSNER MAI | DIRECTOR Trustee or director | 2 | $0 |
| SMEDMORE BERNARD | DIRECTOR Trustee or director | 2 | $0 |
| ALBERT W FRANKE III MAI SRA | DIRECTOR Trustee or director | 2 | $0 |
| TONIA VAILAS MAI AI-GRS | DIRECTOR Trustee or director | 2 | $0 |
| HEATHER PLACER MULL MAI SRA | DIRECTOR Trustee or director | 2 | $0 |
| ROBERT VODINELIC MAI | DIRECTOR Trustee or director | 2 | $0 |
| JOSHUA GARRETSON MAI AI-GRS | DIRECTOR Trustee or director | 2 | $0 |
| DONALD BOUCHER SRA | DIRECTOR Trustee or director | 2 | $0 |
| DALE COOPER | DIRECTOR Trustee or director | 2 | $0 |
| JACINTO MUNOZ | DIRECTOR Trustee or director | 2 | $0 |
| MARK VERRETT SRA | DIRECTOR Trustee or director | 2 | $0 |
| ALLEN W GARDINER MAI SRA | DIRECTOR Trustee or director | 2 | $0 |
| ROBERT R ELLIOTT JR | DIRECTOR Trustee or director | 2 | $0 |
| MICHAEL TANKERSLEY MAI SRA | DIRECTOR Trustee or director | 2 | $0 |
| REGINALD M CARTER MAI SRA | DIRECTOR Trustee or director | 2 | $0 |
| WESLEY SANDERS MAIAI-GRS | DIRECTOR Trustee or director | 2 | $0 |
| CESAR SERVANDO CANTU MARTINEZ | DIRECTOR Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 34 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BEATA E SWACHA CPA CAE | CFO (THROUGH SEP 2023) Officer | 50 | $397,181 | $28,451 |
| JEFFREY E LISKAR ESQUIRE | GENERAL COUNSEL Highest-paid employee | 40 | $339,393 | $36,824 |
| WILLIAM E GARBER JR | DIRECTOR, GOVERNMENT RELATIONS Highest-paid employee | 45 | $251,947 | $15,479 |
| EVAN R WILLIAMS CAE IOM | DIRECTOR, PROFESSIONAL SERVICES & RESOURCES Key employee | 45 | $201,046 | $29,058 |
| CYNTHIA CHANCE | CEO Officer | 50 | $204,458 | $3,937 |
| HEIDI KORTHASE | DIRECTOR, INFORMATION TECHNOLOGY Highest-paid employee | 55 | $172,757 | $27,291 |
| STEPHEN WAGNER MAI SRA AI-GRS | DIRECTOR, ETHICS & STANDARDS Highest-paid employee | 37.5 | $175,648 | $16,314 |
| CHRISTINA MITAKIS | ASSOCIATE GENERAL COUNSEL Highest-paid employee | 40 | $175,726 | $14,958 |
| JAMES AMORIN MAI SRA AI-GRS | CEO (THROUGH FEB 2023) Officer | 50 | $150,532 | $8,190 |
| CRAIG STEINLEY MAISRAAI-GRSAI-RRS | PRESIDENT Officer | 40 | $152,400 | $0 |
| PLEDGER M BISHOP III MAISRAAI-GRS | IMMEDIATE PAST PRESIDENT Officer | 20 | $108,525 | $0 |
| SANDRA K ADOMATIS SRA | PRESIDENT ELECT Officer | 20 | $108,083 | $0 |
| PAULA K KONIKOFF MAI AI-GRS | VICE PRESIDENT Officer | 20 | $97,400 | $0 |
| ALBERT W FRANKE III MAI SRA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ALLEN W GARDINER MAI SRA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| DALE C COOPER MAISRAAI-GRSAI-RRS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| DARWIN R ERNST SRA AI-RRS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| DONALD S BOUCHER SR SRA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| HEATHER PLACER MULL MAI SRA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JACINTO A MUNOZ JR MAI SRA AI-GRS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JASON L MESSNER MAI | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JOSHUA D GARRETSON MAIAI-GRSAI-RRS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| LINDEL D SCHULZE MAI AI-GRS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MARK E VERRETT SRA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MATTHEW S MYERS MAI | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MICHAEL HINNANT SRA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MICHAEL V TANKERSLEY MAISRA AI-GRS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| REGINALD M CARTER MAI SRA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ROBERT J VODINELIC MAI | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ROBERT R ELLIOTT JR MAI SRA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| SMEDMORE MONTGOMERY BERNARD JR MAI | DIRECTOR Trustee or director | 2 | $0 | $0 |
| TINA A MINDEMANN SRA AI-RRS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| TONIA VAILAS MAI AI-GRS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| WESLEY R SANDERS MAI AI-GRS | DIRECTOR Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 200 W MADISON ST STE 2630, CHICAGO, IL 60606-3622
- Principal officer (990 for 2024)
- JOHN UDELHOFEN, 200 W MADISON 2000, CHICAGO, IL 60606
- Signed the 990
- JOHN UDELHOFEN, INTERIM CEO
- Phone
- (312) 335-4100
- Website
- WWW.APPRAISALINSTITUTE.ORG
- Return prepared by
- SIKICH LLC
Mission
OUR MISSION IS TO EMPOWER VALUATION PROFESSIONALS THROUGH COMMUNITY, CREDENTIALING, EDUCATION, BODY OF KNOWLEDGE AND ETHICAL STANDARDS.
Program accomplishments
- TOTAL MEMBERSHIP AS OF DECEMBER 31, 2024 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 2024, THE APPRAISAL INSTITUTE SERVED OVER 14,000 STUDENTS THROUGH MORE THAN 350 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 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.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 36-3739643
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1992
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 9464 (73 member organizations)
- Assets (IRS master file)
- $34,434,603
- Income (IRS master file)
- $23,040,929
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $18,198,258 | $20,565,808 | $34,434,603 | XML |
| 990 | December 2023 | $19,912,698 | $21,003,883 | $32,179,969 | XML |
| 990 | December 2022 | $23,134,340 | $20,276,526 | $30,942,389 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 36-3739643).
Questions about APPRAISAL INSTITUTE
- What is the EIN of APPRAISAL INSTITUTE?
- The employer identification number (EIN) of APPRAISAL INSTITUTE is 36-3739643.
- Is APPRAISAL INSTITUTE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1992.
- Are donations to APPRAISAL INSTITUTE tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does APPRAISAL INSTITUTE file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of APPRAISAL INSTITUTE due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did APPRAISAL INSTITUTE last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of APPRAISAL INSTITUTE?
- The 990 for the year ended December 31, 2024 names JOHN UDELHOFEN.
- Who are the officers and directors of APPRAISAL INSTITUTE?
- The 990 for the year ended December 31, 2024 lists 33 people; 12 received compensation from the organization, the highest $407,411 (CYNTHIA CHANCE, CEO (END 9/13/24)).
- How much revenue does APPRAISAL INSTITUTE have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $18,198,258, expenses of $20,565,808 and total assets of $34,434,603 at year end.
Organizations in its group exemption (73)
- APPRAISAL INSTITUTE EIN 36-2351810 · MT PROSPECT, IL · last filed 990 for 2024
- APPRAISAL INSTITUTE EIN 94-1642910 · WALNUT CREEK, CA · last filed 990 for 2024
- APPRAISAL INSTITUTE EIN 95-2566221 · HACIENDA HEIGHTS, CA · last filed 990 for 2024
- APPRAISAL INSTITUTE EIN 11-6038130 · NEW YORK, NY · last filed 990 for 2024
- APPRAISAL INSTITUTE EIN 62-0917502 · CHICAGO, IL · last filed 990 for 2024
- APPRAISAL INSTITUTE EIN 41-6124081 · CHICAGO, IL · last filed 990 for 2024
- APPRAISAL INSTITUTE EIN 58-6046247 · ATLANTA, GA · last filed 990 for 2024
- APPRAISAL INSTITUTE EIN 59-6154111 · APOLLO BEACH, FL · last filed 990-EZ for 2024
- APPRAISAL INSTITUTE EIN 04-3142316 · MALDEN, MA · last filed 990-EZ for 2024
- APPRAISAL INSTITUTE EIN 75-1401980 · CHICAGO, IL · last filed 990-EZ for 2024
- APPRAISAL INSTITUTE EIN 59-6141351 · FT LAUDERDALE, FL · last filed 990-EZ for 2024
- APPRAISAL INSTITUTE EIN 61-1220385 · CHICAGO, IL · last filed 990-EZ for 2024
- APPRAISAL INSTITUTE EIN 23-7034553 · LUTZ, FL · last filed 990-EZ for 2024
- APPRAISAL INSTITUTE EIN 91-6037591 · CHICAGO, IL · last filed 990-EZ for 2024
- APPRAISAL INSTITUTE EIN 56-6063067 · CHICAGO, IL · last filed 990-EZ for 2024
- APPRAISAL INSTITUTE EIN 76-0324660 · CHICAGO, IL · last filed 990 for 2024
- APPRAISAL INSTITUTE EIN 84-1158375 · CHICAGO, IL · last filed 990-EZ for 2024
- APPRAISAL INSTITUTE EIN 99-0296068 · CHICAGO, IL · last filed 990-EZ for 2024
- APPRAISAL INSTITUTE EIN 23-7113640 · CHICAGO, IL · last filed 990-EZ for 2024
- APPRAISAL INSTITUTE EIN 22-6063977 · CHICAGO, IL · last filed 990-EZ for 2024
Other nonprofits in CHICAGO
- NORTHWESTERN MEMORIAL HEALTHCARE EIN 36-4724966 · last filed 990 for 2025
- UNIVERSITY OF CHICAGO EIN 36-2177139 · last filed 990 for 2025
- CENTRAL STATES SOUTHEAST & SOUTHWEST AREAS HEALTH & WELFARE F EIN 36-2154936 · last filed 990 for 2024
- FEEDING AMERICA EIN 36-3673599 · last filed 990 for 2025
- UNIVERSITY OF CHICAGO MEDICAL CENTER EIN 36-3488183 · last filed 990 for 2025
- NORTHWESTERN MEMORIAL HEALTHCARE EIN 36-3152959 · last filed 990 for 2025
- RUSH UNIVERSITY MEDICAL CENTER EIN 36-2174823 · last filed 990 for 2025
- THE CHICAGO COMMUNITY TRUST EIN 36-2167000 · last filed 990 for 2025