APPRAISAL INSTITUTE (EIN 363739643) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1991

Legal Domicile

Principal Officer

JOHN UDELHOFEN

Phone

3123354100

Tax Period

2023-01-01 to 2023-12-31

APPRAISAL INSTITUTE, founded in 1991, is a mid-sized nonprofit that reported $19.9M in total revenue in fiscal year 2023. Revenue decreased 14% compared to the prior year.

Mission

OUR MISSION IS TO EMPOWER VALUATION PROFESSIONALS THROUGH COMMUNITY, CREDENTIALING, EDUCATION, BODY OF KNOWLEDGE AND ETHICAL STANDARDS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,480,930

Program Service Revenue $17,416,683

Investment Income $606,670

Other Revenue $408,415

TOTAL REVENUE $19,912,698

Expense Breakdown

Grants Paid $350,575

Salaries & Benefits $11,714,656

Fundraising Expenses $0

Other Expenses $8,938,652

TOTAL EXPENSES $21,003,883

Year-over-Year Comparison

	2023	2022	Change
Revenue	$19,912,698	$23,134,340	-0.1%
Expenses	$21,003,883	$20,276,526	+0.0%
Net Income	$-1,091,185	$2,857,814	-1.4%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✓ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

105

Volunteers

197

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,259,157

Total Directors

Key Employees

$230,104

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALBERT W FRANKE III MAI SRA	DIRECTOR	2.00	Director	$0	$0	$0
ALLEN W GARDINER MAI SRA	DIRECTOR	2.00	Director	$0	$0	$0
DALE C COOPER MAISRAAI-GRSAI-RRS	DIRECTOR	2.00	Director	$0	$0	$0
DARWIN R ERNST SRA AI-RRS	DIRECTOR	2.00	Director	$0	$0	$0
DONALD S BOUCHER SR SRA	DIRECTOR	2.00	Director	$0	$0	$0
HEATHER PLACER MULL MAI SRA	DIRECTOR	2.00	Director	$0	$0	$0
JACINTO A MUNOZ JR MAI SRA AI-GRS	DIRECTOR	2.00	Director	$0	$0	$0
JASON L MESSNER MAI	DIRECTOR	2.00	Director	$0	$0	$0
JOSHUA D GARRETSON MAIAI-GRSAI-RRS	DIRECTOR	2.00	Director	$0	$0	$0
LINDEL D SCHULZE MAI AI-GRS	DIRECTOR	2.00	Director	$0	$0	$0
MARK E VERRETT SRA	DIRECTOR	2.00	Director	$0	$0	$0
MATTHEW S MYERS MAI	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL HINNANT SRA	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL V TANKERSLEY MAISRA AI-GRS	DIRECTOR	2.00	Director	$0	$0	$0
REGINALD M CARTER MAI SRA	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT J VODINELIC MAI	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT R ELLIOTT JR MAI SRA	DIRECTOR	2.00	Director	$0	$0	$0
SMEDMORE MONTGOMERY BERNARD JR MAI	DIRECTOR	2.00	Director	$0	$0	$0
TINA A MINDEMANN SRA AI-RRS	DIRECTOR	2.00	Director	$0	$0	$0
TONIA VAILAS MAI AI-GRS	DIRECTOR	2.00	Director	$0	$0	$0
WESLEY R SANDERS MAI AI-GRS	DIRECTOR	2.00	Director	$0	$0	$0
CRAIG STEINLEY MAISRAAI-GRSAI-RRS	PRESIDENT	40.00	Officer	$152,400	$0	$152,400
SANDRA K ADOMATIS SRA	PRESIDENT ELECT	20.00	Officer	$108,083	$0	$108,083
PAULA K KONIKOFF MAI AI-GRS	VICE PRESIDENT	20.00	Officer	$97,400	$0	$97,400
PLEDGER M BISHOP III MAISRAAI-GRS	IMMEDIATE PAST PRESIDENT	20.00	Officer	$108,525	$0	$108,525
CYNTHIA CHANCE	CEO	50.00	Officer	$204,458	$3,937	$208,395
JAMES AMORIN MAI SRA AI-GRS	CEO (THROUGH FEB 2023)	50.00	Officer	$150,532	$8,190	$158,722
BEATA E SWACHA CPA CAE	CFO (THROUGH SEP 2023)	50.00	Officer	$397,181	$28,451	$425,632
EVAN R WILLIAMS CAE IOM	DIRECTOR, PROFESSIONAL SERVICES & RESOURCES	45.00	Key Emp	$201,046	$29,058	$230,104
JEFFREY E LISKAR ESQUIRE	GENERAL COUNSEL	40.00	Highest	$339,393	$36,824	$376,217
WILLIAM E GARBER JR	DIRECTOR, GOVERNMENT RELATIONS	45.00	Highest	$251,947	$15,479	$267,426
STEPHEN WAGNER MAI SRA AI-GRS	DIRECTOR, ETHICS & STANDARDS	37.50	Highest	$175,648	$16,314	$191,962
HEIDI KORTHASE	DIRECTOR, INFORMATION TECHNOLOGY	55.00	Highest	$172,757	$27,291	$200,048
CHRISTINA MITAKIS	ASSOCIATE GENERAL COUNSEL	40.00	Highest	$175,726	$14,958	$190,684

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$19,912,698	$21,003,883	$32,179,969	$-1,091,185
2022	$23,134,340	$20,276,526	$30,942,389	$2,857,814
2021	$19,187,200	$18,201,858	$29,125,581	$985,342
2020	$18,773,238	$17,781,184	$25,943,354	$992,054
2019	$19,581,128	$19,115,178	$23,563,855	$465,950
2018	$19,801,946	$19,458,660	$21,075,415	$343,286

APPRAISAL INSTITUTE