2022-23 Annual Report

2022-2023 ANNUAL REPORT

©2023, Institute of Municipal Assessors.

All rights reserved. No part of this publication may be reproduced or transmitted in any form, including storage or retrieval systems, or by any means, electronic, mechanical, photographic, or recording, without permission in writing from the publisher.

VISION

To be the industry leader in education, ethical standards, and professional accreditation in the field of property assessment.

MISSION

To provide specialized education through a comprehensive approach to training which embraces all available technologies. To promote professional development and to ensure our members are recognized as experts in the field of property assessment and related functions.

VALUES

The IMA and its members value professionalism, inclusivity, diversity, integrity, ethics, accountability, and expertise. We are committed to serving all members and stakeholders with competence and respect, in accordance with the IMA’s Code of Ethics and Professional Standards.

LETTER FROM THE PRESIDENT

On behalf of the Institute of Municipal Assessors, I am pleased to present the Annual Report for the 2022-2023 Fiscal Year.

“With over 1,270 members, the IMA is Canada’s largest association of property assessment and taxation professionals Our diverse membership includes individuals from the private and public sectors practicing in the field of assessment, consultancy, appraisal, taxation and law. Incorporated in 1957, the IMA is dedicated to advancing the interests, education and professional competencies of our Members.”

This past year was one that saw renewed investment into the professional growth of our members and the future of our organization We close off our 2020-2023 Strategic Plan cycle with achievements throughout all our strategic pillars of Educate, Grow, Lead and Govern

We worked to ensure that our members, regardless of their geographical location, have access to the current best practices and training relevant to our industry Almost 600 members across Canada attended our IPTI/IMA webinar series, with over 300 members attending the Fall Virtual Symposium We also offered the first year of our Fast Track Designation Program (FTDP) The successful graduates from that program, contributed to the 45 new A.I.M.A. members and 73 new M.I.M.A. members overall who successfully complete their accreditation journey this past year. These ongoing investments in professional development and education, continue to support our members while positioning them as recognized experts in the field of property assessment and related function

We have continued to grow our IMA community of members across Canada, with new members joining us from Nova Scotia, New Brunswick and Alberta. Earlier this year, we announced our reciprocity agreement with the Alberta Assessors Association (AAA) through which our corresponding accreditations are transferable and transportable These and other initiatives with stakeholders across Canada, support the continued growth of our profession and increase the recognition and value of your IMA membership

The IMA finished the 2022-2023 Fiscal Year with a strong bottom line and a healthy profit. Responsible fiscal planning and revenue generation has led to these results Forward looking changes have been strategically implemented to the IMA’s Investment fund for long-term financial growth in response to changing financial markets

As we plan our next Strategic Planning Cycle, the healthy financial standing and the successes from the 2022-2023 fiscal year will allow for further investments supporting our members with leading education and training opportunities, as we strengthen our position as the leading Canadian educational and professional body for property assessment and taxation professionals.

After reviewing this Annual Report, I trust you will be equally pleased with the success and direction of the Institute, including the commitment to fulfilling our vision to be the industry leader in education, ethical standards, and professional accreditation in the field of property assessment.

Yours truly,

Greg Martino, M.I.M.A.

President of the Institute of Municipal Assessors

LETTER FROM THE EXECUTIVE DIRECTOR

In the last few months, since I’ve joined the Institute, I have been privileged to have the opportunity to connect with members, volunteers and stakeholders from across Canada In all these conversations, what continuously stands out is the passion that our members have for the profession and industry, and the dedication to best practices and professionalism rooted in ethics

I have seen this same dedication and commitment reflected in the mission, vision and values that the IMA Executive, Board and our volunteer leaders place at the core of every project and initiative

It is through this focus and commitment that the IMA has been able to continue to grow our membership, invest in education that reflects best practices in the field, and continuously advocate to increase the recognition of our designation and accreditation

We are incredibly fortunate to have dedicate volunteers that are subject matter experts and leaders in the field As you read through this report, it is easy to see their efforts and dedication reflected in the achievements from this past year

As we close off our 2020-23 strategic plan, we feel a renewed pride in our member community and excitement as we look ahead at the opportunities that the IMA has to continue to grow and strengthen our professional community.

nk our talented and hard-working IMA office staff, Board of Directors, and volunteers for their unwavering Onwards and upwards!

Ejona Balashi, B A, CMP, SFC IMA Executive Director

THE IMA TEAM

EXECUTIVE COMMITTEE

DISTRICT

DIRECTORS

OFFICE TEAM

Ejona Balashi, B A, CMP, SFC Executive Director

Terri-Lyn Wright, M I M A District #6 Director

Jane Sokol-Kennedy, A I M A District #1 Director

Caterina Chiarandini, M I M A Past President

Andrew Loney, M I M A District #7 Director

Vacant District #2 Director

Greg Martino, M I M A President

Nancy McKerroll Membership and Education Coordinator

Joanne Guillemette, M I M A (Interim) District #8 Director

Janice Desjarlais, M I M A 1st Vice President

Jessica Martini, M I M A District #3 Director

Laura Mills Communications & Project Management Specialist

Makini Robinson, Accountant

Debbie Simone, M.I.M.A. District #4 Director

Emily Hopkins, M I M A District #9 Director

Carlos Resendes, M I M A 2nd Vice President

Reginald Stoyles, M.I.M.A. District #10 Director

Bill O’Connor, M.I.M.A. District #5 Director

Ejona Balashi, B A, CMP, SFC Executive Director

Mark Doble, M I M A 3rd Vice President

DISTRICT EXECUTIVES

Chair: Stacey Armstrong, M I M A

Chair: Matthew Stevens, A I M A

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Vice Chair: Benn McBride, M I M A (Life)

Secretary: Toban Edmunds, M.I.M.A.

Treasurer: Jon Brent, A.I.M.A.

District Director: Jane Sokol-Kennedy, A I M A

Chair: Vacant

Vice Chair: Rebecca Bennett, A I M A

Secretary/Treasurer: Rebecca MacDonald, M I M A

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District Director: Vacant

Chair: Maureen Zabiuk, A.I.M.A.

Vice Chair: Michelle D'Souza, M.I.M.A.

Secretary/Treasurer: Garrett Goericke, M I M A

District Director: Jessica Martini, M.I.M.A.

Chair: Patrizia Tempio, M I M A

Vice Chair: Simon Goldstein, M.I.M.A.

Secretary/Treasurer: Garrett Goericke, M I M A

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District Director: Debbie Simone, M I M A

Vice Chair: Laurie-Ann Freymond, M.I.M.A.

Secretary/Treasurer: Joe Harrington, A I M A

District Director: Mark Lindquist, M.I.M.A.

Chair: Amy Raycroft, M I M A

Vice Chair: James Van Winckle, M.I.M.A.

Secretary: Michael Hupfau, M.I.M.A.

Treasurer: Paul Slobodzian, M I M A

District Director: Andrew Loney, M.I.M.A.

Vice Chair: Joe Rossanese, M I M A

Secretary: Sally McInall, A I M A

District Director: Joanne Guillemette, M.I.M.A.

Chair: Donalea Stewart, Affiliate

Vice Chair: Jenna Hodder, Affiliate

Secretary: Thomas Pesek, Affiliate

Treasurer: Kurt Marcinko, A.I.M.A.

District Director: Emily Hopkins, M I M A

Chair: Sherri Seibel, M I M A

Vice Chair: Darren Carter, A.I.M.A.

Secretary/Treasurer: Darren Carter, A.I.M.A.

District Director: Bill O'Connor, M I M A

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Vice Chair: Seletta Mitchelmore, M I M A

Secretary/Treasurer: Anita Fowler, Affiliate

District Director: Reg Stoyles, M I M A

IMA COMMITTEES

STANDING COMMITTEES

Accreditation Committee

Chair: Diane Douglas, A I M A

Margaret Chan, M.I.M.A.

Simon Goldstein, M.I.M.A.

Don Hearn, M I M A

Larry Hummel, M I M A (Life)

Jessica Martini, M.I.M.A.

Brian Moore, M.I.M.A. (Life) Morgan

Timberg, A I M A

Continuing Professional Development (CPD) Committee

Chair: Judith Regis, M.I.M.A.

Stacey Armstrong, M.I.M.A.

Lynne Cunningham, M I M A

Beverly Harrington, M I M A

Paul Lacelle, M.I.M.A.

Judith Regis, M I M A

Reg Stoyles, M I M A

Sabrina Vizzacchero, M I M A

Nominating Committee

Chair: Caterina Chiarandini M.I.M.A.

Elizabeth Gibson, M.I.M.A.

Dominic Mariano, M I M A

Terry Tomkins, M I M A (Life)

Mark Doble, M.I.M.A.

Communication Services Committee

Chair: Cathy Ranieri Sweenie,Affiliate

Jason Brimstin, M.I.M.A.

Nicole McAninch, A.I.M.A.

Paul Obara, A I M A

Lori-Ann Seethaler, M I M A

Membership Committee

Chair: Jason Vink, M.I.M.A.

Dianne Dumalag, A I M A

Enzo Fonte, M I M A

Reilly Mawhinney, A.I.M.A.

Michael Temianko, M.I.M.A.

Scholarship Trust Fund Trustees

Chair: Frank Shea, Affiliate

Greg Martino, M I M A

Sean Martin, M I M A (Life)

Karen Russell, M.I.M.A.

Belinda Schubert, Affiliate

T R A T E G I C P L A N

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EDUCATE

STRATEGIC STRATEGIC OBJECTIVE GOALS

Be the most trusted, relevant, and accessible provider of education and credentials in the field of property assessment

Ensure a catalogue of relevant, high quality courses, which meet the evolving needs of assessment professionals.

Provide an equal IMA member experience and service, regardless of geography

GROW

STRATEGIC STRATEGIC OBJECTIVE GOALS

Increase the IMAs membership by serving all career levels and forging strong strategic partnerships

LEAD

STRATEGIC OBJECTIVE

Strengthen the reputation of the organization and its members by acting as a leader within the field of property assessment

Enhance opportunities for senior assessment professionals by exploring the development of a specialist designation in response to growing industry needs.

Connect with new professionals by enhancing member communications, improving member onboarding, and expanding scholarship opportunities.

STRATEGIC GOALS

Embrace the role of leader and advocate within the property assessment profession

Strengthen current, and develop new, strategic partnerships with peer associations across Canada

GOVERN STRATEGIC STRATEGIC OBJECTIVE GOALS

Fortify the future of the IMA through operational excellence and a diverse group of talented volunteers.

Review and align association management practices with strategic objectives and statements of Vision, Mission, and Values.

Secure the IMA’s financial stability by reviewing current pricing model and practicing sound risk management

SAMPLE SUPPORTING ACTIONS

Utilize technology to offer interactive and accessible online events

Develop localized training and educational content where required

Lead opportunities for collaboration across districts to increase access to quality PD opportunities

SAMPLE SUPPORTING ACTIONS

Develop framework for a specialist designation track

Work collaboratively with strategic partners from across the country to develop criteria for, and launch, the FIMA designation

Redesign the new member onboarding experience.

SAMPLE SUPPORTING ACTIONS

Adopt an advocacy voice for the assessment profession to ensure interests are being represented

Work with strategic partners to produce industry white papers with national relevance

Engage with educational institutions, assessment authorities, and various levels of government where applicable

SAMPLE SUPPORTING ACTIONS

Align the IMA budget and staffing needs to achieve clear strategic objectives

Develop strategy to diversify the Board of Directors to enhance representation and broaden expertise.

Review and assess the relevance of current committees to determine if sufficient to meet the requirements of the strategic plan, and create new committees if deemed relevant

I T T E E R E P O R T S

C O M M

As the 2022-2023 fiscal year ends, the Accreditation Committee has grown in both volunteers and achievements. This year, the nine-member team has collaborated to strengthen the Prior Learning Assessment Recognition (PLAR) and the Fast Track Designation Program (FTDP)

Committee members continued to review external courses and update the PLAR program and guidelines.

The 2022 FTDP cohort began April 1, 2022 Committee members developed and finalized the program process applications, approved question banks and developed examination procedures. Course graders dedicated time as course leads, creating question banks and webinars to support learners. I am pleased to report that 46 candidates earned their M I M A , and 7 earned their A I M A through the FTDP Under the traditional course stream, there were 29 candidates that earned their M I M A and 39 who earned their A I M A

Congratulations to all members who ascended to A.I.M.A. and M.I.M.A. over the last year!

As Chair, I want to thank all the members of the Accreditation Committee for all their hard work, collaboration, and dedication in making this another successful year!

Diane Douglas A I M A Chair, Accreditation Committee

ACCREDITATION COMMITTEE COMMUNICATIONS SERVICES COMMITTEE

A key focus for the Communications Services Committee over 2022-2023, has been to develop and deliver content that connects and resonates with our membership As I reflect over this past year as the new chair of the Communications Services Committee, I am very proud of our accomplishments

I took on my new role from Gina Stone, M I M A , and I would like to take this opportunity to recognize Gina for her time and expertise as a dedicated volunteer for this committee

On behalf of the Communications Services Committee, I am pleased to share some of our exciting achievements as we wrap up another year

One of the committee’s key areas of focus was to profile high-quality, original content that resonates with our readers. From important news, inspiring accreditation stories, member profiles, case-law discussions, and jurisdictional updates, we have shared a range of content that showcases the expertise of the IMA, reflects the values of our organization, and highlights the industry leaders within our membership

Another goal of the committee was to reach our members more effectively. This meant increasing our open rates and overall awareness of Insti-News and our monthly eNewsletter I am excited to share that we exceeded our targets

Through careful analysis and optimization of our email campaigns, we have been able to better capture the attention of our audience and drive more member engagement than ever before.

I believe that our successes this year are a reflection of the creativity and dedication of our volunteers as well as the IMA office team In particular, I would like to thank Laura Mills for her expertise and support as I took on this new role

We are committed to continuing to build on our 2021-2022 successes and deliver even more value to our members over the next year Thank you for your support and stay tuned for more updates from the Communications Services Committee

Cathy Ranieri Sweenie, Affiliate Chair, Communications Services Committee.

CONTINUING PROFESSIONAL DEVELOPMENT (CPD) COMMITTEE

The 2022-2023 fiscal year was the beginning of the new CPD Cycle 5 and the CPD Committee continues to support members in completing their requirements

In addition to the many virtual CPD opportunities and regular course stream credits, CPD was provided to successful Fast Track Designation Program (FTDP) M.I.M.A. candidates and M.I.M.A. members assisting with the Accreditation Interview.

We are happy to report that as of March 31, 2023, 28% of members had completed their current cycle required hours, 67% have started CPD hours and only 5% have not uploaded any hours/credits. A cycle halfway reminder e-blast and ongoing communications have been scheduled.

The Committee continued to approve numerous requests for CPD credits which ensured members had many options

As Acting Chair of the CPD Committee, I’d like to thank Ejona, Nancy, and all the members on the CPD Committee for our teams’ accomplishments and dedication to continued professional development It is because we have such a knowledgeable team that we are capable of our achievements

Judith Regis, M.I.M.A.

Acting Chair, Continuing Professional Development Committee

MEMBERSHIP COMMITTEE

I am pleased to provide an update on behalf of the 2022-2023 Membership Committee

The IMA Membership Committee continued its journey with the new member outreach program as they engaged in conversations and welcomed members that had recently joined. The Executive Director, Ejona Balashi and Interim Executive Director, Mark Doble, were able to meet with members of the Real Property Assessment (RPA) class at Seneca College to provide a presentation on the importance of having an IMA Membership on behalf of the Membership Committee The Executive Team has also been busy reaching out and connecting with professionals from across the country and our industry, as we all work towards growing the IMA membership.

The future looks bright as several initiatives continue to support our growth With the success of the Fast Track Designation Program (FTDP), there continues to be several new members joining each year Additionally, the IMA is seeing interest in their courses and curriculum throughout Canada as new members from various Provinces commence their accreditation journey.

The goal of the Membership Committee is ultimately to enhance the member experience and provide new and innovative ways to meet their needs Feedback from the IMA annual survey helped to highlight the areas of success and inform on areas that require attention The results from the survey of the IMA 2023 membership survey have provided deep insights that the IMA will use to help guide future decisions, while developing new offerings that support the professional growth of our members

As Chair of the Membership Committee, I would like to personally thank each one of the members of the Membership Committee for their professionalism and dedication to advancing the interests of the membership. A special thank you to the team at the IMA office as well for their continued support throughout the past year The combined contributions allowed for a successful and enjoyable year together

Jason Vink, M.I.M.A.

Chair, Membership Committee

NOMINATING COMMITTEE

T E E R E P O R T S

C O M M I T

The purpose of the Nominating Committee is to manage the annual nomination process for the IMA Executive positions of President, 1st, 2nd, and 3rd Vice-President (VP).

On March 29th, 2023, a general call was distributed to the IMA membership inviting nominations for the four positions. We received two nominations for the position of 3rd VP. As per our By-Laws, the IMA held a vote via electronic ballot. This took place between May 8th until May 22nd, 2023.

I am happy to report the Nominating Committee has completed the 2023-24 IMA Executive nomination process A verbal report will be made at the 2023 Annual General Meeting on Monday, June 5th, 2023, announcing the 2023-24 slate of Executive Committee members.

Many thanks to my fellow Nominating Committee members for their support throughout the process I wish all incoming Executive Committee members much success. As I prepare to depart the Executive Committee, I strongly recommend the experience of taking on a leadership role within our professional association.

Caterina Chiarandini, M.I.M.A. Chair, Nominating Committee

LETTER FROM THE TREASURER

On behalf of the Board of Directors, I am pleased to report that the Board has approved the 2022-23 audited financial statements

The Institute’s auditing firm, Norton McMullen LLP, has reported that the financial statements present fairly, in all material respects, the financial position of the organization as of March 31, 2023, and the results of its operations and its cash flows for the year then ended in accordance with Canadian accounting standards for not-for-profit organizations (ASNPO)

Over the past year, the IMA leadership team focused on strategic investments that drive member value, while maintaining financial stability. We successfully leveraged technology to offer both the FTPD program and a virtual symposium- benefiting both social and financial bottom lines To ensure financial health, the office staff worked closely with the Executive Committee and Board of Directors to enhance office operations, streamline the team, optimize our ability to deliver programs in a virtual environment We also worked closely with our financial advisor to manage investments, in a turbulent market environment.

I can report that, as a direct result of these initiatives, the IMA will post an $28,263, surplus This surplus, and our strong financial standing, will support future strategic investments as we look to renew our strategic plan to continuously add value for our members

Thank you.

Ejona Balashi, B A, CMP, SFC Treasurer

A N C I A L S

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INSTITUTE OF MUNICIPAL ASSESSORS

Greg Martino, MIMA - President

Ejona Balashi, BA, CMP, SFC - IMA Executive Director

The accompanying Notes form part of these financial statements

ACCESS FULL FINANCIALS HERE

INSTITUTE OF MUNICIPAL ASSESSORS

The accompanying Notes form part of these financial statements ACCESS FULL FINANCIALS HERE

IMA SCHOLARSHIP TRUST FUND

On behalf of the IMA Scholarship Trust Fund Trustees, I am pleased to report that the IMA was able to award ten scholarships over this past year, totaling over $6,5000.00.

The IMA was able to grow the Scholarship Trust Fund thanks to generous donations from our members and as part of the 2022 Fall Virtual Symposium. One hundred percent of the $5,000 raised during the Symposium was donated to the Scholarship Trust Fund. This amount will be reflected in the Q1 2023 Financial Statement

The IMA and the Scholarship Trustees wish to thank all corporate sponsors and individual donors for your generous contributions supporting the next generation of property assessment professionals. You can learn more about the IMA Scholarship Trust Fund and available scholarships here

Over the past few years, the Scholarship Trustees and IMA Board of Directors have been working to review and restructure the awards to ensure fair and equal access to all IMA members and candidates regardless of geography or their path to designation. Last year, we updated the criteria for the prestigious W.J. Lettner Memorial Award. This year, we were able to introduce a new award category - the Larry K. Hummel Award. This new award recognizes two exemplary and deserving members who completed the Fast Track Designation Program each year:

• M I M A Category ($500): Awarded to the M I M A Accredited member with the highest Fast Track Designation Program (FTDP) composite exam mark (with a minimum of 3 courses)

• A.I.M.A Category ($500): Awarded to the A.I.M.A Designated member with the highest FTDP composite exam mark (with a minimum of 3 courses)

Congratulations to all 2022-23 scholarship award winners (photographed below)! I want to acknowledge and thank my fellow Trustees and the IMA office team for your time and dedication over the past year

Francis

2022-2023 Scholarship Award Winners

Ash A W al Awa ory)

Dong hyuk Kang, M I M A Larry K Hummel Award (MI.M.A. Category)

D A. La ard (A I M A Category)

Mark Hotte, M.I.M.A. W J Lettner Memorial Award (M I M A Category)

Hardeep Kaur Mario Vittiglio Achievement Award

Gemma Zhou IMA Assessors Recognition Award

Chun Hau Chan (Leon) Christian G Schulze Award for Excellence

Andrew Posteraro, M.I.M.A. W J Lettner Memorial Award (M I M A Category)

Shelby Roper Carl B Davis Award for Excellence

Benjamin Ra IMA Assessors Recognition Award

X Shea, LL B

Chair, IMA Scholarship Trust Fund

2022-23 IMA SPONSORS

THANK YOU TO THE FOLLOWING SPONSORS, WHOSE GENEROUS DONATIONS SUPPORTED THE IMA SCHOLARSHIP FUND

SUPPORT THE NEXT GENERATION OF PROPERTY ASSESSMENT PROFESSIONALS WITH A TAX-DEDUCTIBLE DONATION TO THE IMA SCHOLARSHIP FUND. LEARN MORE ABOUT THE AWARDS AND VIEW PAST RECIPIENTS HERE