Appraisal Institute

Chicago, IL · Founded 1991

Professional association advancing standards and education for real estate appraisers and valuation professionals

Primary audience

Valuation Professionals

Work area

Professional Association

Topic

Real Estate Appraisal

Contact

Cynthia Chance

Website Contact

About Organization

The Appraisal Institute empowers valuation professionals through credentialing, education, and ethical standards. Based in Chicago, IL, the organization operates with 118 employees and 197 volunteers, generating $18.2 million in annual revenue. Founded in 1991, it serves as the nation's leading association for real estate appraisers.

What They Focus On

Professional Development

Advancing careers through education, credentials, and resources that enhance valuation expertise and professional recognition

Industry Standards

Establishing ethical guidelines and best practices that ensure quality, consistency, and integrity in real estate valuation

Knowledge Leadership

Developing authoritative research, publications, and methodologies that shape valuation practices and industry understanding

Financial Information

Form 990 data showing organizational financial health and growth.

Revenue (2024)

$18.2M

-8.6% vs 2023

Expenses (2024)

$20.6M

-2.1% vs 2023

Assets (2024)

$34.4M

+7% vs 2023

Employees (2024)

118

+12.4% vs 2023

Year	Revenue	Expenses	Assets	Employees
2024	$18,198,258	$20,565,808	$34,434,603	118
2023	$19,912,698	$21,003,883	$32,179,969	105
2022	$23,134,340	$20,276,526	$30,942,389	105
2020	$18,773,238	$17,781,184	$25,943,354	96
2019	$19,581,128	$19,115,178	$23,563,855	98
2018	$19,801,946	$19,458,660	$21,075,415	105

Source: IRS Form 990 filings. All figures in USD.

01

Community Building

Connect valuation professionals through chapters, networking events, and collaborative forums nationwide
02

Education Delivery

Provide comprehensive courses and training programs to build technical expertise and professional skills
03

Credentialing Process

Evaluate candidates and award professional designations that recognize competence and ethical standards
04

Standards Development

Establish and update valuation methodologies, ethical guidelines, and industry best practices

Programs and Initiatives

Services and programs offered by Appraisal Institute

Professional Credentialing

Provides recognized designations and certifications for real estate appraisers to demonstrate expertise and competence

Education and Training

Delivers courses, seminars, and continuing education programs to advance valuation knowledge and skills

Ethics and Standards

Establishes and enforces professional conduct standards and best practices for valuation professionals

Body of Knowledge

Develops and maintains authoritative resources, publications, and research on valuation methodologies and practices

Team & Leadership

Meet the people behind Appraisal Institute.

Cynthia Chance

CEO (End 9/13/24)

Full-time

Compensation: $407,411

Beata Swacha

Former CFO

Compensation: $216,333

Stephen Wagner

Director, Ethics And Standards

Full-time

Compensation: $176,064

Sandra K Adomatis Sra

President

Full-time

Compensation: $157,000

Alissa Akins

Director, Education

Full-time

Compensation: $143,923

John Udelhofen

Interim CEO

Full-time

Compensation: $143,621

Scott Dibiasio

Director, Government Relations

Full-time

Compensation: $133,244

Paula K Konikoff Mai Aigrs

President Elect

20 hrs/week

Compensation: $110,900

Craig Steinley

Immediate Past President

20 hrs/week

Compensation: $100,300

Michael Acquaro-Mignogna

Vice President

20 hrs/week

Compensation: $100,300

Jeffrey Liskar Esquire

General Counsel

Full-time

Compensation: $347,600

Christina Mitakis

Associate General Counsel

Full-time

Compensation: $192,473

Albert W Franke III Mai Sra

Director

Allen W Gardiner Mai Sra

Director

Cesar Servando Cantu Martinez

Director

Dale Cooper

Director

Darwin Ernst Sra Ai-Rrs

Director

Donald Boucher Sra

Director

Heather Placer Mull Mai Sra

Director

Jacinto Munoz

Director

Jason Messner Mai

Director

Joshua Garretson Mai Ai-Grs

Director

Lindel D Schulze Mai Ai-Grs

Director

Mark Verrett Sra

Director

Michael Hinnant Sra

Director

Reginald M Carter Mai Sra

Director

Robert R Elliott Jr

Director

Robert Vodinelic Mai

Director

Smedmore Bernard

Director

Tina Mindemann Sra Ai-Rrs

Director

Tonia Vailas Mai Ai-Grs

Director

Wesley Sanders Maiai-Grs

Director

Milestones

1991

Organization Founded

1991

Appraisal Institute established to serve valuation professionals

1992

Tax-Exempt Status Granted

1992

Received IRS recognition as professional association

2022

Peak Revenue Year

2022

Achieved highest annual revenue of $23.1 million

2024

Leadership Transition

2024

John Udelhofen appointed as Interim CEO following Cynthia Chance

Associated People

Board members, advisors, and key contributors

Board of Directors

Albert W Franke III Mai Sra Director 2.00 hrs/week

Allen W Gardiner Mai Sra Director 2.00 hrs/week

Cesar Servando Cantu Martinez Director 2.00 hrs/week

Dale Cooper Director 2.00 hrs/week

Darwin Ernst Sra Ai-Rrs Director 2.00 hrs/week

Donald Boucher Sra Director 2.00 hrs/week

Heather Placer Mull Mai Sra Director 2.00 hrs/week

Jacinto Munoz Director 2.00 hrs/week

Jason Messner Mai Director 2.00 hrs/week

Joshua Garretson Mai Ai-Grs Director 2.00 hrs/week

Lindel D Schulze Mai Ai-Grs Director 2.00 hrs/week

Mark Verrett Sra Director 2.00 hrs/week

Michael Hinnant Sra Director 2.00 hrs/week

Michael Tankersley Mai Sra Director 2.00 hrs/week

Reginald M Carter Mai Sra Director 2.00 hrs/week

Robert R Elliott Jr Director 2.00 hrs/week

Robert Vodinelic Mai Director 2.00 hrs/week

Smedmore Bernard Director 2.00 hrs/week

Tina Mindemann Sra Ai-Rrs Director 2.00 hrs/week

Tonia Vailas Mai Ai-Grs Director 2.00 hrs/week

Wesley Sanders Maiai-Grs Director 2.00 hrs/week

Information compiled from IRS Form 990 and organizational materials.

Executive Compensation

Top compensated officers & key employees from IRS Form 990

Total Reported (2024)

$2.4M

Highest Paid

$430K

Cynthia Chance

Compensated Officers

Name	Title	Base	Other	Total	Hrs/Wk
Cynthia Chance	CEO (End 9/13/24)	$407,411	$22,240	$429,651	50
Jeffrey Liskar Esquire	General Counsel	$347,600	$36,377	$383,977	45
Beata Swacha	Former CFO	$216,333	—	$216,333	—
Christina Mitakis	Associate General Counsel	$192,473	$16,098	$208,571	45
Stephen Wagner	Director, Ethics And Standards	$176,064	$23,012	$199,076	37.5
Sandra K Adomatis Sra	President	$157,000	—	$157,000	40
Alissa Akins	Director, Education	$143,923	$12,320	$156,243	45
John Udelhofen	Interim CEO	$143,621	$6,250	$149,871	50
Scott Dibiasio	Director, Government Relations	$133,244	$13,698	$146,942	45
Paula K Konikoff Mai Aigrs	President Elect	$110,900	—	$110,900	20
Craig Steinley	Immediate Past President	$100,300	—	$100,300	20
Michael Acquaro-Mignogna	Vice President	$100,300	—	$100,300	20

Name	Title	Base	Other	Total	Hrs/Wk
Beata E Swacha CPA CAE	CFO (Through Sep 2023)	$397,181	$28,451	$425,632	50
Jeffrey E Liskar Esquire	General Counsel	$339,393	$36,824	$376,217	40
William E Garber JR	Director, Government Relations	$251,947	$15,479	$267,426	45
Evan R Williams CAE Iom	Director, Professional Services & Resources	$201,046	$29,058	$230,104	45
Cynthia Chance	CEO	$204,458	$3,937	$208,395	50
Heidi Korthase	Director, Information Technology	$172,757	$27,291	$200,048	55
Stephen Wagner Mai Sra Ai-Grs	Director, Ethics & Standards	$175,648	$16,314	$191,962	37.5
Christina Mitakis	Associate General Counsel	$175,726	$14,958	$190,684	40
James Amorin Mai Sra Ai-Grs	CEO (Through Feb 2023)	$150,532	$8,190	$158,722	50
Craig Steinley Maisraai-Grsai-Rrs	President	$152,400	—	$152,400	40
Pledger M Bishop III Maisraai-Grs	Immediate Past President	$108,525	—	$108,525	20
Sandra K Adomatis Sra	President Elect	$108,083	—	$108,083	20
Paula K Konikoff Mai Ai-Grs	Vice President	$97,400	—	$97,400	20

Name	Title	Base	Other	Total	Hrs/Wk
Jim Amorin Mai Sra Ai-Grs	CEO	$498,511	$23,894	$522,405	50
Jeffrey E Liskar Esquire	General Counsel	$326,920	$33,227	$360,147	40
Beata E Swacha CPA CAE	CFO	$253,925	$28,780	$282,705	50
William E Garber JR	Director, Government Relations	$244,956	$14,828	$259,784	45
Evan R Williams CAE Iom	Director, Professional Services & Resources	$201,046	$26,884	$227,930	45
Stephanie Coleman Mai Sra Ai-Grs	Senior Manager, Ethics & Standards	$181,403	$15,858	$197,261	37.5
Heidi Korthase	Director, Information Technology	$161,407	$25,018	$186,425	55
Christina Mitakis	Associate General Counsel	$167,608	$13,823	$181,431	40
Pledger M Bishop III Mai Sra Ai-	President	$148,525	—	$148,525	40
Craig Steinley Mai Sra Ai-Grs Ai-	President Elect	$104,600	—	$104,600	20
Sandra K Adomatis Sra	Vice President	$94,600	—	$94,600	20
Rodman Schley Mai Sra	Immediate Past President	$94,524	—	$94,524	20

Name	Title	Base	Other	Total	Hrs/Wk
Jim Amorin CAE Mai Sra Ai-Grs	CEO	$510,791	$27,669	$538,460	50
Jeffrey E Liskar Esquire	General Counsel	$321,687	$35,567	$357,254	50
Beata E Swacha CPA CAE	CFO	$226,886	$30,554	$257,440	50
William E Garber JR	Director, Government Relat	$235,665	$14,913	$250,578	45
Evan R Williams CAE Iom	Director, Professional Ser	$184,714	$28,931	$213,645	45
Stephanie Coleman Mai Sra Ai-Grs	Senior Manager, Ethics & S	$178,647	$15,676	$194,323	37.5
Christina Mitakis	Associate General Counsel	$159,247	$14,200	$173,447	37.5
Heidi Korthase	Director, Information Technology	$143,808	$22,758	$166,566	37.5
Jefferson L Sherman Mai Ai-Grs	President	$143,709	—	$143,709	40
Stephen S Wagner Mai Sra Ai-Grs	Immediate Past President	$109,381	—	$109,381	20
Rodman Schley Mai Sra	President Elect	$101,051	—	$101,051	20
Pledger M Bishop III Mai Sra	Vice President	$100,611	—	$100,611	20
Justin D Slack Mai Sra Ai-Grs Ai	Director	$17,175	—	$17,175	2
Robert L Moorman Mai Sra	Director	$11,830	—	$11,830	2
Michael V Tankersley Mai Sra Ai-R	Director	$2,000	—	$2,000	2

Name	Title	Base	Other	Total	Hrs/Wk
Jim Amorin CAE Mai Sra Ai-Grs	CEO	$435,461	$26,194	$461,655	50
Jeffrey E Liskar Esquire	General Counsel	$307,182	$36,556	$343,738	50
Beata E Swacha CPA CAE	CFO	$223,883	$31,213	$255,096	50
William E Garber JR	Director, Government Relations	$225,141	$14,397	$239,538	45
Evan R Williams CAE Iom	Director, Professional Services & Resources	$175,158	$31,546	$206,704	45
Stephanie Coleman Mai Sra Ai-Grs	Senior Manager, Ethics & Standards	$179,486	$16,097	$195,583	37.5
Roberta H Borst MBA	Director, Marketing & International Development	$160,075	$28,724	$188,799	37.5
Christina Mitakis	Associate General Counsel	$151,101	$14,464	$165,565	37.5
Stephen S Wagner Mai Sra Ai-Grs	President	$164,194	—	$164,194	40
Jefferson L Sherman Mai Ai-Grs	President Elect	$102,384	—	$102,384	20
James L Murrett Mai Sra	Immediate Past President	$91,356	—	$91,356	20
Rodman Schley Mai Sra	Vice President	$89,827	—	$89,827	20
Robert L Moorman Mai Sra	Director	$23,100	—	$23,100	2
Craig Steinley Sra Ai-Rrs	Director	$19,000	—	$19,000	2
Justin D Slack Mai Sra Ai-Grs Ai	Director	$18,375	—	$18,375	2

Source: IRS Form 990 filings. Compensation includes base and other reported compensation.

Individual Political Donors

People from this organization who contributed to political campaigns

$14K Total Given

Democratic $11,075 (78%)

Other/PAC $3,100 (22%)

64 Contributions

$221 Avg Each

Top Individual Donors

9 Individual Donors

Patricia Mckibbin 53 contributions • $198 avg

$10,475

Cindy Chance 1 contribution • $1,500 avg

$1,500

Sandra K Adomatis 1 contribution • $500 avg

$500

Briana Criqui 2 contributions • $250 avg

$500

Heather P Barbour 1 contribution • $500 avg

$500

Other Individual Contributors $700 combined

Robert B Smith

Bethpage, NY

$300 Total

3 Contributions

APPRAISAL INSTITUTE PAC (AI PAC)

Louis A Sorce

Flanders, NJ

$200 Total

1 Contribution

APPRAISAL INSTITUTE PAC (AI PAC)

Lee Z Whyte

Wichita, KS

$100 Total

1 Contribution

APPRAISAL INSTITUTE PAC (AI PAC)

Stephanie Coleman

Carson City, NV

$100 Total

1 Contribution

HARRIS FOR PRESIDENT

Quick Insights

🏆

Most Active Donor Patricia Mckibbin with 53 contributions

💰

Highest Avg per Contribution Briana Criqui at $250 each

🎯

Top Recipient ACTBLUE — $5,725

Data from Federal Election Commission • Individual contributions only

Lobbying Activity

Lobbying Disclosure Act registrations

Self-Lobbying

2 Registrations

1 Client

Yes Self-Lobbying

Clients 1 total

Appraisal Institute

2 filings

Self

Source: Senate Office of Public Records — Lobbying Disclosure Act

Contact

Get in touch with Appraisal Institute

Phone

(312) 335-4100

Social

Visit Website

200 W Madison 2000 Chicago, IL 60606

Appraisal Institute

What They Focus On

Financial Information

How They Work

Community Building

Education Delivery

Credentialing Process

Standards Development

Programs and Initiatives

Professional Credentialing

Education and Training

Ethics and Standards

Body of Knowledge

Team & Leadership

Cynthia Chance

Beata Swacha

Stephen Wagner

Sandra K Adomatis Sra

Alissa Akins

John Udelhofen

Scott Dibiasio

Paula K Konikoff Mai Aigrs

Craig Steinley

Michael Acquaro-Mignogna

Jeffrey Liskar Esquire

Christina Mitakis

Albert W Franke III Mai Sra

Allen W Gardiner Mai Sra

Cesar Servando Cantu Martinez

Dale Cooper

Darwin Ernst Sra Ai-Rrs

Donald Boucher Sra

Heather Placer Mull Mai Sra

Jacinto Munoz

Jason Messner Mai

Joshua Garretson Mai Ai-Grs

Lindel D Schulze Mai Ai-Grs

Mark Verrett Sra

Michael Hinnant Sra

Reginald M Carter Mai Sra

Robert R Elliott Jr

Robert Vodinelic Mai

Smedmore Bernard

Tina Mindemann Sra Ai-Rrs

Tonia Vailas Mai Ai-Grs

Wesley Sanders Maiai-Grs

Milestones

Organization Founded

Tax-Exempt Status Granted

Peak Revenue Year

Leadership Transition

Associated People

Board of Directors

Executive Compensation

Individual Political Donors

Top Individual Donors

Other Individual Contributors $700 combined

Robert B Smith

Louis A Sorce

Lee Z Whyte

Stephanie Coleman

Quick Insights

Related Organizations

Tax-Exempt Affiliates

Lobbying Activity

Clients 1 total

Contact

Phone

Social