ASSOCIATION OF INDEPENDENT MORTGAGE EXPERTS

EIN: 824304490 Community Improvement

CLARKSTON, MI

Total Revenue
$4,954,281
Total Expenses
$7,279,061
Total Assets
$619,710
Net Assets
$469,429
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
MI
Principal Officer
JONATHON HADDAD
Phone
3603355246
Tax Period
2023-01-01 to 2023-12-31

ASSOCIATION OF INDEPENDENT MORTGAGE EXPERTS, founded in 2018, is a community nonprofit in the Community Improvement sector that reported $5.0M in total revenue in fiscal year 2023. Revenue fell 43% from the prior year — a significant decline worth monitoring. Expenses of $7.3M exceeded revenue, resulting in a 47% operating deficit.

Mission

TO MAINTAIN AN ASSOCIATION OF EXPERTS EMPOWERED WITH THE TOOLS, RESOURCES, AND SUPPORT TO SUCCESSFULLY ADVISE CONSUMERS NATIONWIDE ON RESIDENTIAL MORTGAGE NEEDS. AIME CULTIVATES IDEAS, PROVIDES EXCLUSIVE BENEFITS, AND IMPACTS LEGISLATIVE AND SOCIAL PROGRESS.

Program Service Accomplishments

Program 1

AIME IS A MEMBERSHIP ASSOCIATION OF INDEPENDENT MORTGAGE EXPERTS. MEMBERS ARE EMPOWERED WITH THE TOOLS, RESOURCES, AND SUPPORT NECESSARY TO SUCCESSFULLY ADVISE CONSUMERS NATIONWIDE WITH THEIR...

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AIME IS A MEMBERSHIP ASSOCIATION OF INDEPENDENT MORTGAGE EXPERTS. MEMBERS ARE EMPOWERED WITH THE TOOLS, RESOURCES, AND SUPPORT NECESSARY TO SUCCESSFULLY ADVISE CONSUMERS NATIONWIDE WITH THEIR RESIDENTIAL MORTGAGE NEEDS. MEMBERS ARE PROVIDED EXCLUSIVE BENEFITS AND BENEFIT FROM IMPACTFUL LEGISLATIVE AND SOCIAL PROGRESS THROUGH ADVOCACY AND EDUCATION.SEE SCHEDULE O FOR A SUMMARY OF MEMBER BENEFITS.MEMBER BENEFITS:-AIME FUSE NATIONAL CONFERENCE-REGIONAL WORKSHOPS-SOCIAL MEDIA COMMUNITIES HOSTED BY AIME, EXCLUSIVELY FOR MEMBERS, WITH WEEKLY CONTENT AND TRAINING FOR THE PURPOSE OF PROVIDING KNOWLEDGE, TRAINING, AND EDUCATION AROUND TOPICS THAT CAN HELP INDEPENDENT MORTGAGE EXPERTS GROW THEIR BUSINESSES.-MEMBER NETWORKING OPPORTUNITIES VIA LOCAL AND VIRTUAL MEET UPS-WEEKLY E-NEWSLETTER-WEEKLY BROKER-TO-BROKER PODCAST EXCLUSIVELY FOR AIME MEMBERS, FEATURING INDEPENDENT MORTGAGE EXPERTS SHARING BEST PRACTICES, SUCCESS STORIES, AND BENEFITS TO AIME MEMBERSHIP. -MONTHLY WEBINARS PROVIDING MEMBERS WITH TRAINING AROUND MARKETING, BUSINESS DEVELOPMENT, AND OTHER TOPICS TO HELP INDEPENDENT MORTGAGE EXPERTS GROW THEIR BUSINESS.-EXCLUSIVE MEMBER PERKS PROGRAM THAT PROVIDES LISTS OF PREFERRED INDUSTRY PARTNERS AND MEMBER DISCOUNTS, INCLUDING: --DISCOUNTED SUBSCRIPTION FEES FOR ENHANCED TECHNOLOGY OFFERINGS. --DISCOUNTED PRE-EDUCATION AND CONTINUING EDUCATION PROFESSIONAL SERVICES.

Program 2

ANNUAL NATIONAL CONFERENCE IN 2023, THE AIME FUSE NATIONAL CONFERENCE PROVIDED 1,386 ATTENDEES WITH EDUCATIONAL AND NETWORKING OPPORTUNITIES IN THE FORM OF KEYNOTE SPEAKERS, BREAK-OUT SESSIONS, AND A...

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ANNUAL NATIONAL CONFERENCE IN 2023, THE AIME FUSE NATIONAL CONFERENCE PROVIDED 1,386 ATTENDEES WITH EDUCATIONAL AND NETWORKING OPPORTUNITIES IN THE FORM OF KEYNOTE SPEAKERS, BREAK-OUT SESSIONS, AND A VENDOR/LENDER EXHIBIT HALL. EXHIBITORS INCLUDED WHOLESALE MORTGAGE LENDERS AND VENDORS THAT PROVIDE PRODUCTS, TOOLS, AND SERVICES FOR BROKERS IN THE WHOLESALE MORTGAGE INDUSTRY.

Program 3

REGIONAL WORKSHOPSIN 2023, AIME LAUNCHED SEVERAL IMPACTFUL REGIONAL WORKSHOPS AND PROGRAMS THAT GREATLY BENEFITED THE MORTGAGE BROKER COMMUNITY. - THE HALL OF AIME EVENT FEATURED WORKSHOPS AND...

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REGIONAL WORKSHOPSIN 2023, AIME LAUNCHED SEVERAL IMPACTFUL REGIONAL WORKSHOPS AND PROGRAMS THAT GREATLY BENEFITED THE MORTGAGE BROKER COMMUNITY. - THE HALL OF AIME EVENT FEATURED WORKSHOPS AND PANELS, FOSTERING COLLABORATION AND SKILL ENHANCEMENT.- NATIONAL MORTGAGE BROKERS DAY RAISED AWARENESS THROUGH REGIONAL NETWORKING EVENTS, HIGHLIGHTING THE VITAL ROLE OF BROKERS TO HOMEBUYERS AND REAL ESTATE PROFESSIONALS.-THE SUCCESS TRACK INITIATIVE OFFERED WEEKLY TRAINING TO REFINE BUSINESS PRACTICES.(CONTINUED ON SCHEDULE O)- AIME ON TOUR ENGAGED LOCAL BROKERS WITH TAILORED TRAINING OPPORTUNITIES.- HOMEOWNERSHIP ROUNDTABLES ADVANCED FINANCIAL EDUCATION FOR BLACK, HISPANIC, AND VETERAN COMMUNITIES, PROMOTING INCLUSIVITY IN HOMEOWNERSHIP. - AIME ACADEMY PROVIDED ESSENTIAL TRAINING FOR BROKERS AND SUPPORT STAFF, FACILITATING ONBOARDING AND CAREER DEVELOPMENT.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $117,071
Program Service Revenue $4,826,691
Investment Income $10,409
Other Revenue $110
TOTAL REVENUE $4,954,281

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,456,677
Fundraising Expenses $0
Other Expenses $4,822,384
TOTAL EXPENSES $7,279,061

Year-over-Year Comparison

2023 2022 Change
Revenue $4,954,281 $8,623,076 -0.4%
Expenses $7,279,061 $8,221,700 -0.1%
Net Income $-2,324,780 $401,376 -6.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
4
Independent Members
N/A
Employees
38
Volunteers
8

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
3
$419,235
Total Directors
4
$589,159
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KATHERINE KATIE SWEENEY CHAIR & CEO 40.00
Officer Director
$249,988 $5,871 $255,859
MARC SUMMERS PRESIDENT, TREASURER 40.00
Officer Director
$109,988 $25,280 $135,268
STEPHANIE GRAY SECRETARY 40.00
Officer Director
$28,108 $0 $28,108
KARIS KOHEN DIRECTOR, SVP BUSINESS DEV 40.00
Director
$145,821 $24,103 $169,924
JENNIFER LEONARD VP MARKETING 40.00
Highest
$114,554 $5,641 $120,195
CLIFF GILMORE CHIEF OF STAFF 40.00
Highest
$119,792 $0 $119,792
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 $4,954,281 $7,279,061 $619,710 $-2,324,780
2022 $8,623,076 $8,221,701 $2,866,777 $401,375
2022 $8,623,076 $8,221,700 $2,843,676 $401,376
2021 $6,737,940 $5,150,035 $2,433,480 $1,587,905
2020 $4,997,838 $5,406,923 $1,128,826 $-409,085
2019 $6,019,631 $4,876,454 $1,360,998 $1,143,177
2018 $1,420,243 $1,263,013 $181,176 $157,230
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