The Appraisal Foundation
The mission of the Appraisal Foundation is to advance the valuation profession by setting standards of excellence, promoting education and upholding the public trust.
The Appraisal Foundation at a glance
In short: The Appraisal Foundation gave $560K across 1 grant in 2024 (avg $560K), mostly in Illinois. Source: 2024 IRS Form 990.
- Annual giving (2024)
- $560,000
- +40.0% vs 2023
- Grants made (2024)
- 1
- +0.0% vs 2023
- Average grant
- $560,000
- +40.0% vs 2023
- Median grant
- $560,000
- Total assets
- $12,124,632
- +13.2% vs 2023
- Primary geography
- Illinois (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990, 2024 View filing
Data from IRS Form 990, 2024; updated September 2026.
Who The Appraisal Foundation funds
How this funder distributes its grants
Top Recipients
Top recipient in 2024
The largest 2024 recipient was The Appraisal Institute ($560K).
Grant Size Distribution
3 grants across all recorded years
The most common grant size was in the $100–250K range: 1 grant of 3 (33%).
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $26K (2021) to $560K (2024). In 2024 it made 1 grant totaling $560K.
Hatched bars: grants paid as reported on the IRS filing, which lists no individual grants for that year.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| The Appraisal Institute Chicago, IL | To fund the Pathways to Success scholarship | $560,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2024 | $12,124,632 | $6,834,947 | $6,289,844 | $560,000 | 1 | $286,645 |
| 2023 | $10,715,170 | $3,529,735 | $5,482,555 | $400,000 | 1 | $82,523 |
| 2022 | $11,800,010 | $4,780,600 | $5,101,592 | $100,000 | 1 | $247,130 |
| 2021 | $12,806,075 | $4,033,745 | $3,573,081 | $25,500 | Total only | $142,055 |
| 2020 | $11,185,160 | $5,278,973 | $3,574,129 | $35,000 | Total only | $98,783 |
"Total only": grants paid as reported on the IRS filing, which lists no individual grants for that year.
About The Appraisal Foundation
Based on IRS filings
The Appraisal Foundation is a public charity, based in Washington, DC. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $12.1M in total assets. In 2024, it awarded 1 grant totaling $560K. Net investment income was $287K.
Leadership & Key People
Officers and directors from IRS filings
The Appraisal Foundation is led by David S Bunton, President & Advisor since 2024 (on filings since 2020); 6 of 28 officers listed in 2024 are compensated.
Officers on the 2024 filing
David S Bunton
President & Advisor
President → President & Advisor, 2024
On filings since 2020
37.5 hrs/week
$376K (2020) → $469K (2024)
Kelly Davids
Senior Vice President & President
Senior Vice President → Senior Vice President & President, 2024
On filings since 2020
37.5 hrs/week
$224K (2020) → $296K (2024)
Tracy Johnston
Chair
Secretary → Vice Chair, 2023
Vice Chair → Chair, 2024
On filings since 2020
1 hr/week
No compensation reported
Aida Dedajic
Senior Director, Engagement & Innovation
Director & Engagements → Senior Director, Engagement & Innovation, 2024
On filings since 2021
37.5 hrs/week
$103K (2021) → $121K (2024)
Amy Kaufman
Senior Director, Communications & Operations
Director & Communications → Senior Director, Communications & Operations, 2024
On filings since 2023
37.5 hrs/week
$112K (2023) → $121K (2024)
Chris Greenwalt
Trustee
On filings since 2020
1 hr/week
No compensation reported
Cindy Charleston Rosenberg
Trustee
On filings since 2020
1 hr/week
No compensation reported
Pete Fontana
Trustee
On filings since 2020
1 hr/week
No compensation reported
Shaun Fitzgerald
Trustee
On filings since 2020
1 hr/week
No compensation reported
Krysta Gerstner
Trustee
On filings since 2021
1 hr/week
No compensation reported
Leigh Lester
Trustee
On filings since 2021
1 hr/week
No compensation reported
Dave Ganun
Trustee
On filings since 2022
1 hr/week
No compensation reported
Lawrence Colorito
Trustee
On filings since 2022
1 hr/week
No compensation reported
Shelly Tanaka
Trustee
On filings since 2022
1 hr/week
No compensation reported
Steven Sherman
Trustee
On filings since 2022
1 hr/week
No compensation reported
David Doering
Trustee
On filings since 2023
1 hr/week
No compensation reported
Meredith Meuwly
Trustee
On filings since 2023
1 hr/week
No compensation reported
Randal Dawson
Trustee
On filings since 2023
1 hr/week
No compensation reported
Scott Schafer
Trustee
On filings since 2023
1 hr/week
No compensation reported
Smedmore Bernard
Trustee
On filings since 2023
1 hr/week
No compensation reported
Abraham Funchess
Trustee
New on the 2024 filing
1 hr/week
No compensation reported
Joe Calvanico
Trustee
New on the 2024 filing
1 hr/week
No compensation reported
Juana Watkins
Trustee
New on the 2024 filing
1 hr/week
No compensation reported
Edna Nkemngu
Vice President, Finance & Administrati
Vice President, Finance & Administration → Vice President, Finance & Administrati, 2024
On filings since 2020
37.5 hrs/week
$187K (2020) → $227K (2024)
Lisa Desmarais
Vice President & Appraisal Issues
Vice President → Vice President & Appraisal Issues, 2021
On filings since 2020
37.5 hrs/week
$133K (2020) → $212K (2024)
Dayton D Nordin
Immediate Past Chair
Vice Chair → Chair, 2023
Chair → Immediate Past Chair, 2024
On filings since 2020
1 hr/week
No compensation reported
Francois Gregoire
Secretary & Treasurer
Trustee → Secretary, 2023
Secretary → Secretary & Treasurer, 2024
On filings since 2020
1 hr/week
No compensation reported
Raymond Wagester
Vice Chair
Trustee → Treasurer, 2022
Treasurer → Vice Chair, 2024
On filings since 2020
1 hr/week
No compensation reported
Former officers (18)
- Former: Randall Kopfer (2020–2023) — Immediate Past Chair
- Former: Robert W Taylor (2020–2023) — Trustee
- Former: Robert Morrison (2021–2023) — Trustee
- Former: Jillian White (2023) — Trustee
- Former: Edie Yeomans (2020–2022) — Trustee
- Former: Jeff Dickstein (2020–2022) — Trustee
- Former: Jeremy Gray (2020–2022) — Immediate Past Chair
- Former: Lawrie Hollingsworth (2020–2022) — Trustee
- Former: Amy Timmerman (2021–2022) — Director & Communications
- Former: J. Peter Fontana (2022) — Trustee
- Former: Kiernan Kc Conway (2022) — Trustee
- Former: David GaNun (2020–2021) — Trustee
- Former: Emerson Sutton Jr. (2020–2021) — Trustee
- Former: Jennifer Wagner (2020–2021) — Trustee
- Former: Leila Dunbar (2020–2021) — Immediate Past Chair
- Former: Michael Christensen (2020–2021) — Trustee
- Former: Lisa Hobart (2020) — Treasurer
- Former: Ronny Johnson (2020) — Immediate Past Chair
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $469K, to David S Bunton (President (JAN-MAR)/Advisor (APR-DEC)). 6 officers or directors reported compensation on that filing.
Frequently asked questions about The Appraisal Foundation
How much does The Appraisal Foundation give each year?
The Appraisal Foundation gave $560K across 1 grant in 2024, according to its 2024 IRS Form 990. In 2023 it gave $400K across 1 grant.
How large is The Appraisal Foundation?
The Appraisal Foundation reported $12.1M in total assets on its 2024 IRS Form 990. Its revenue that year was $6.8M.
Where does The Appraisal Foundation operate?
The Appraisal Foundation has awarded grants in Illinois, New York.
What is The Appraisal Foundation's EIN?
The Appraisal Foundation's EIN (Employer Identification Number) is 23-2493621. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS November 5, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS October 20, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS November 3, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS November 15, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 14, 2025)
- IRS filings on file for fiscal years 2020–2024
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