IMA 2021-2022 | Annual Report

2021 - 2022

ANNUAL REPORT

©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.

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ANNUAL REPORT

CONTENTS

PAGE

03

VISION, MISSION, VALUES

04

05

LETTER FROM THE PRESIDENT Caterina Chiarandini, M.I.M.A.

LETTER FROM THE EXECUTIVE DIRECTOR Tyler Callaghan, MBA, CAE

06

DISTRICT EXECUTIVES

07

IMA COMMITTEES

09

BY THE NUMBERS

10

COMMITTEE REPORTS

THE IMA TEAM Executive Committee, District Directors, Office Team

2020-23 STRATEGIC PLAN

14

LETTER FROM THE TREASURER

15

2021-22 FINANCIALS

08 11

17

IMA SCHOLARSHIP TRUST FUND

18

2021-22 IMA SPONSORS

02

ANNUAL REPORT

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.

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ANNUAL REPORT

LETTER FROM THE PRESIDENT On behalf of the Institute of Municipal Assessors, I am pleased to present the Annual Report for the 2021-2022 Fiscal Year.

“With over 1,250 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 of increased investment into the professional growth of our members and the future of our organization.

Actions related to the 2020-2023 Strategic Plan have been well underway throughout the year. Investment into courses and webinars continued with updates to IMA-300 and IMA-412 and the much-anticipated introduction of IMA-402. The IMA continues to promote EDI offerings reinforcing the IMA’s Code of Ethics and Professional Standards as well as the Vision, Mission and Values of our organization.

Recently, the IMA commissioned a research paper led by the International Property Tax Institute to further explore the needs of stakeholders and identify new opportunities to support the assessment profession in Canada. In the past year, the IMA allocated significant human and financial resources towards the creation and launching of the new Fast Track Designation Program.

Again this year, the IMA’s normal operations continued to be affected by the COVID-19 pandemic. Investment shifted away from in-person events towards the virtual realm with the return of the Fall Virtual Symposium. This resulted in record attendances and greater accessibility and reach to our membership.

Despite the challenges, the IMA has performed incredibly well financially. 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.

The IMA finished the 2021-2022 Fiscal Year with a strong bottom line. With positive financial results, further re-investment is possible for the organization. Funds will be allocated towards actions relating to the 2020-2023 Strategic Plan and continuing to support our members and stakeholders with leading education and training opportunities. Through continual re-investment, the IMA is reinforcing and strengthening our position as a leading educational and professional body for years to come.

After review of 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 for the future.

Yours truly,

Caterina Chiarandini, M.I.M.A. President of the Institute of Municipal Assessors

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ANNUAL REPORT

LETTER FROM THE EXECUTIVE DIRECTOR Strength, adaptability, and dedication: these characteristics propelled the IMA through another challenging—yet inspiring— fiscal year. While the global pandemic tested our responsiveness, so too did it accelerate our organizational evolution. Shifting to entirely virtual operations, the IMA leveraged opportunities to enhance our operational and financial health, articulate the Institute’s value proposition, and find new ways to foster meaningful connections.

Our team took on every challenge with our mission, vision, and values serving as guiding lights. From the foundation of strong volunteer leadership, the IMA navigated the unknown with confidence and care as the Board approached each decision with members at the forefront. Focused on serving member and stakeholder needs, the IMA also launched the Fast Track Designation Program in early 2022, which welcomed 65 candidates into its inaugural cohort.

Critical work was undertaken to advance the IMA’s commitment to ethics, integrate new members, and introduce governance reform to guide the Institute into the future. The impressive output of our standing committees is a testament to the power of collaboration as we learned, listened, and worked together to progress through uncertain times.

As the IMA learns and advances its 2020-23 strategic plan, we feel a renewed pride in our member community and excitement for what lies ahead. I thank the talented IMA office staff, Board of Directors, and volunteers for their unwavering dedication to the members we serve.

Tyler Callaghan, MBA, CAE Executive Director

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ANNUAL REPORT

THE IMA TEAM EXECUTIVE COMMITTEE

Caterina Chiarandini, M.I.M.A. President

Greg Martino, M.I.M.A. 1st Vice President

Janice Desjarlais, M.I.M.A. 2nd Vice President

Carlos Resendes, M.I.M.A. 3rd Vice President

Terry Peckham, M.I.M.A. Past President

Tyler Callaghan, MBA, CAE Executive Director

DISTRICT DIRECTORS

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

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

Anali Cameron, M.I.M.A. District #2 Director

Elizabeth Gibson, M.I.M.A. District #3 Director

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

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

Andrew Loney, M.I.M.A. District #7 Director

Lisa Beaulieu, A.I.M.A. District #8 Director Until January 2022

Emily Hopkins, M.I.M.A. District #9 Director

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

OFFICE TEAM

Tyler Callaghan, MBA Executive Director

Nancy McKerroll Membership and Education Coordinator

Laura Mills Communications and Project Management Specialist

Harry Patel, Accountant

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ANNUAL REPORT

DISTRICT EXECUTIVES

1 2 3 4 5 07

District 1

Director: Jane Sokol-Kennedy, A.I.M.A. Stacey Armstrong, M.I.M.A. Jon Brent, A.I.M.A. Toban Edmunds, M.I.M.A. Benn McBride, M.I.M.A. (Life)

District 2

Director: Anali Cameron, M.I.M.A. Rebecca Bennett, A.I.M.A. Rebecca MacDonald, M.I.M.A. Melissa Matsos, M.I.M.A.

District 3

Director: Elizabeth Gibson, M.I.M.A. Patrizia Dalamagas, M.I.M.A. Georgia Ribeiro, A.I.M.A. Debbie Simone, M.I.M.A.

District 4

Director: Debbie Simone, M.I.M.A. Simon Goldstein, M.I.M.A. Maureen Zabiuk, A.I.M.A.

District 5

Director: Bill O’Connor, M.I.M.A. Darren Carter, A.I.M.A. Justin Johnstone, Affiliate Sherri Seibel, M.I.M.A.

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6 7 8 9 10

District 6

Director: Terri Lyn Wright, M.I.M.A. Tyler Bond, M.I.M.A. Diane Simpson, M.I.M.A. Jennifer Welton, A.I.M.A.

District 7

Director: Andrew Loney, M.I.M.A. Michael Hupfau, M.I.M.A. Amy Raycroft, M.I.M.A. Paul Slobodzian, M.I.M.A. James Van Winkle, M.I.M.A.

District 8

Director: Lisa Beaulieu, A.I.M.A. Joanne Guillemette, M.I.M.A. Sally McInall, A.I.M.A. Joe Rossanese, M.I.M.A.

District 9

Director: Emily Hopkins, M.I.M.A. Jenna Hodder, Affiliate Kurt Marcinko, A.I.M.A. Thomas Pesek, Affiliate Donalea Stewart, Affiliate

District 10

Director: Reg Stoyles, M.I.M.A. Anita Fowler, Affiliate Seletta Mitchelmore, 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.

Communication Services Committee

Chair: Gina Stone, A.I.M.A. Jason Brimstin, M.I.M.A. Ruth Cameron, M.I.M.A. (Life) Nicole McAninch, A.I.M.A. Paul Obara, A.I.M.A. Lori-Ann Seethaler, M.I.M.A.

Continuing Professional Development (CPD) Committee Chair: Natalie Holmes, A.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: Terry Peckham, M.I.M.A. Elizabeth Gibson, M.I.M.A. Dominic Mariano, M.I.M.A. Terry Tomkins, M.I.M.A. (Life)

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, A.I.M.A.

Scholarship Trust Fund Trustees Chair: Frank Shea, Affiliate Caterina Chiarandini, M.I.M.A. Sean Martin, M.I.M.A. (Life) Karen Russell, M.I.M.A. Belinda Schubert, Affiliate

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ANNUAL REPORT

2020-23 STRATEGIC PLAN 09

EDUCATE STRATEGIC OBJECTIVE

STRATEGIC GOALS

SAMPLE SUPPORTING ACTIONS

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.

Utilize technology to offer interactive and accessible online events.

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

GROW

Develop localized training and educational content where required.

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

STRATEGIC OBJECTIVE

STRATEGIC GOALS

SAMPLE SUPPORTING ACTIONS

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

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

Develop framework for a specialist designation track.

LEAD

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

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

Redesign the new member onboarding experience.

STRATEGIC OBJECTIVE

STRATEGIC GOALS

SAMPLE SUPPORTING ACTIONS

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

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

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

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

GOVERN

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.

STRATEGIC OBJECTIVE

STRATEGIC GOALS

SAMPLE SUPPORTING ACTIONS

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.

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

ANNUAL REPORT

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

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.

BY THE NUMBERS Membership Breakdown:

Membership Total Membership: New Members in 2020/21:

1,266 108

Member Ascensions Affiliate to A.I.M.A.: A.I.M.A. to M.I.M.A.:

40 18

Affiliate 273 A.I.M.A. 515 M.I.M.A. 365 Retired 27 Retired (35+) 64 M.I.M.A. Life 22 TOTAL 1,266 (+7 from 2020/21)

Education & Continuing Professional Development IMA Education Program Course Enrollments: Course Completions:

494 468

Webinars Total Webinar Attendance:

618

2020 Virtual Symposium Attendance:

325

114

Attendees

Most Attended Webinar: Excess Land vs. Surplus Land - Important Distinction (114)

Revenues Membership Education Program Conference Webinars Interest Income Grants and Subsidies

42% 31% 16% 7% 2% 2%

Total revenue 2021-22: $646,640

Website theima.ca visitors:

11,095

(+52% from 2020-2021)

theima.ca views: (+53% from 20-21)

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250,275

ANNUAL REPORT

COMMITTEE REPORTS

ACCREDITATION COMMITTEE

11

I am proud to report on the many achievements of the Accreditation Committee this past year. With a focus on our members, we were busy developing and expanding on several initiatives. One of those items included the launch of the IMA-402 Assessment Law in Newfoundland and Labrador to serve our Newfoundland-based members better.

In January, the IMA launched the Fast Track Designation Program, which provides assessment professionals an opportunity to study within an annual cohort-style program. Qualifying members may earn their A.I.M.A. or M.I.M.A designations in an accelerating time frame.

The Prior Learning Assessment Recognition (PLAR), introduced last year, was an excellent resource summarizing external course equivalencies. Committee members continued to expand on (PLAR), and have increased the eligible institutions from two to five.

I am thrilled to announce 40 members earned their A.I.M.A. designation, while another 18 earned their M.I.M.A. Accreditation.

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

As Chair of the Accreditation Committee, I would like to thank Tyler, Nancy, and all the Committee members for their dedication and commitment. The active participation of our Committee members is a reflection of our outstanding achievements!

Diane Douglas A.I.M.A. Chair, Accreditation Committee

COMMUNICATIONS SERVICES COMMITTEE It is with great pleasure that I report on the Communication Services Committee’s achievements over the past 12 months.

As we faced another challenging year, the committee strove to enhance all IMA communications. Our goal was to keep the membership informed about everything occurring at the IMA office. We focused on increasing email open rates as well as read rates and engagement for the quarterly publication of Insti-News and the monthly e-newsletter.

Insti-News featured some original content from leading industry professionals such as Malcolm Stadig, M.I.M.A.; Greg Martino, M.I.M.A.; and Steven Thair, B.A., LL.B., AACI, to name just a few. It also featured great articles from top names across the industry, interviews with our Fall Virtual Symposium speakers, and a brand-new section on case law updates from around the country. With all these features, we managed to increase our read rates for the members-only publication by 28.68% from last year!

The release of our monthly e-newsletter provided short updates on initiatives occurring at the IMA office. Featuring CPD opportunities, deadline reminders, upcoming webinars, career posts and more, the e-newsletter was successful in its goal of informing members and brought about an increase in new-member mailing list subscriptions from last year.

Looking back on this busy year, we can see how our team pulled together to get some great content out to our members. I would like to thank the committee, both new and veteran members, for their hard work and dedication in making the IMA’s communications for 2021-22 a huge success.

Gina Stone, A.I.M.A. Chair, Communication Services Committee

ANNUAL REPORT

CONTINUING PROFESSIONAL DEVELOPMENT (CPD) COMMITTEE The close of the 2021-2022 fiscal year also brings the end of CPD Cycle 4. During the second year of Cycle 4, we the IMA’s CPD Committee, have supported our members in completing their required credits and the mandatory ethics refresher course, Navigating Ethical Dilemmas.

The IMA continued to offer many virtual CPD opportunities this past year, and the Committee provided support by approving requests as required.

As such, we are happy to report that as of March 31, 2022, 86% of members had completed the required hours and 83% had completed the mandatory course, Navigating Ethical Dilemmas. Additional communication to members is scheduled for April, and we expect the completion numbers to improve considerably during this grace period.

In support of our members, we enhanced the CPD resource information available to new and existing members. One big accomplishment by the Committee was assisting with the development of a CPD overview video, summarizing the CPD program and credit requirement for A.I.M.A. designated and M.I.M.A. accredited members. The link to the video is provided to new A.I.M.A. members and the video is posted to the website CPD page. Another helpful aid provided to new A.I.M.A. members, is a one-page overview of the CPD program.

The Committee decided there will be no mandatory CPD course for cycle 5, which – commenced on April 1, 2022. Additionally, over the next two years, the IMA will look for an alternate CPD portal that will improve member experience in CPD reporting. We look forward to reviewing potential platforms.

As Acting Chair of the CPD Committee, I’d like to thank Tyler, Nancy, and all the members of 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 The 2021-2022 IMA Membership Committee is pleased to report that this past year has seen many initiatives come to life, ultimately enhancing the member experience with the IMA. A membership video was created to provide an overview of the IMA. The video was published on YouTube with direct links from the IMA website, Facebook, Twitter, and LinkedIn. To connect with Real Property Assessment (RPA) graduates from Seneca College, one of the membership committee members posted the membership video to the Seneca RPA Alumni LinkedIn Group, along with a short paragraph. As an extension of this initiative, a link to the IMA video was added to the RPA Graduate letter.

To engage with new IMA members immediately, the IMA Membership Committee established an outreach program that adds to the Welcome Letter that the new member already receives from the IMA. The IMA Membership Committee members followed up with telephone calls to the new members to add a “human touch” to the IMA membership experience, and to address any questions that the new member may have. In circumstances where the new member could not be reached by telephone, a voicemail was left and/or a follow up email was sent to the new member that included the names and contact information of each person on the membership committee.

The Membership Committee decided that a survey would provide a “pulse check” on the current IMA member satisfaction and possibly yield suggestions for improvement. The Membership Committee designed and delivered a survey to all IMA members and analyzed the results to harvest feedback that is valuable to the future of the IMA. Over the past year the IMA learning system has been refreshed and modernized. The evolution of this system is ongoing and there will be continuous upgrades to enhance the member experience. While we were unable to visit the Seneca College campus to speak to the Real Property Administration (RPA) class in-person, the IMA Executive Director, Tyler Callaghan, had a chance to present to the graduating class virtually in April 2022 on behalf of the Committee.

As a result of the Fast Track Designation Program, the IMA has experienced membership growth over the past year, and we are anticipating additional membership growth into the future as the program continues each year.

A special “thank-you” to all the committee members for a collaborative and successful year. The engagement, effort, and productivity from this committee is very much appreciated!

Jason Vink, M.I.M.A. Chair, Membership Committee

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ANNUAL REPORT

COMMITTEE REPORTS

NOMINATING COMMITTEE

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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-Presidents. In 2020, all Executive Committee terms were extended by one year to stabilize the organization in the wake of the ongoing global pandemic.

As the world transitioned to life after COVID-19 in 2022, I am delighted to inform the annual nominating process has returned to normal. On April 1st, a general call was distributed to the IMA membership inviting nominations for the positions noted above.

I am pleased to report the Nominating Committee has completed the 2022-23 IMA Executive nomination process. A verbal report will be made at the 2022 Annual General Meeting on Monday, June 13, 2022, announcing the 2022-23 slate of Executive Committee members.

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

Terry Peckham, M.I.M.A. Chair, Nominating Committee

ANNUAL REPORT

LETTER FROM THE TREASURER On behalf of the Board of Directors, I am pleased to report that the Board has approved the 2021-22 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 at March 31, 2022, 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).

The global pandemic presented a unique set of challenges. Over the past year, the IMA leadership team worked to minimize the risks to the organization and maintain financial stability. To ensure financial health, the office staff worked closely with the Executive Committee and Board of Directors to enhance office operations, restructure the team, optimize our ability to deliver programs in a virtual environment, manage investments, and successfully apply for the Canada Emergency Wage Subsidy and Canada Emergency Rent Subsidy. I can report that, as a direct result of these initiatives, the IMA will post an $85,230 surplus. Much of this surplus was related to investment activities resulting from a revised investment policy.

The Board directed that the surplus be allocated to two internally-restricted reserve funds – the Reserve Account as a risk mitigation measure and the Operating Account to support new and innovative programming under the 2020-23 strategic plan.

Thank you.

Tyler Callaghan, MBA, CAE Treasurer

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ANNUAL REPORT

INSTITUTE OF MUNICIPAL ASSESSORS INSTITUTE OF MUNICIPAL ASSESSORS

2021-22 FINANCIALS

STATEMENT OF FINANCIAL POSITION As at March 31,

2021

2022

ASSETS Current Cash Short-term investments (Note 2) Prepaid expenses Accounts receivable

309,641 1,165,786 70,605 140 $ 1,546,172

$

Long-Term Investments (Note 2)

$

$

599,056

Capital Assets Cost Accumulated amortization

$

$

52,931 (29,105) 23,826

$

391,889

-

$

19,223 1,022,028 9,425 3,906 $ 1,054,582

$

$ 1,938,061

$ 1,677,464

$

$

LIABILITIES Current Accounts payable and accrued liabilities HST payable Deferred revenue

$

57,773 21,239 283,186 362,198

$

40,000 402,198

Long-Term CEBA loan (Note 3)

NET ASSETS

$

26,489 3,773 156,569 186,831

$

40,000 226,831

1,535,863

1,450,633

$ 1,938,061

$ 1,677,464

Out of balance

-

-

Approved by the Board: ____________________________________ Director Caterina Chiarandini, President

See accompanying notes

____________________________________ Director Greg Martino, 1st Vice President

The accompanying Notes form part of these financial statements

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ANNUAL REPORT

INSTITUTE OF MUNICIPAL ASSESSORS INSTITUTE OF MUNICIPAL ASSESSORS STATEMENT OF OPERATIONS AND CHANGES IN NET ASSETS For the year ended March 31,

2021

2022

REVENUES Membership fees Investment income Tuition fees Annual conference Professional seminar Penalties and sundry Accreditation

265,812 263,075 199,548 103,509 46,766 30,805 200 909,715

$

$

$

305,994 139,975 76,053 49,541 24,901 21,442 15,231 13,642 12,091 9,672 8,750 5,039 2,383 2,223 700 310 54 688,001

$

233,322 125,277 223,139 4,779 30,640 5,542 51,963 18,087 7,661 6,797 503 5,477 1,977 1,100 1,692 717,956

$

221,714

$

(118,650)

$

$ EXPENSES Salaries and benefits Course materials and instructors Professional, management and director fees Committee and travel Rent Loss on disposal of assets Annual conference Website, printing and office supplies Bank charges and other Telephone and telecommunications Donations to IMA Scholarship Trust Fund (Note 4) Office and general Depreciation Insurance Professional seminars Equipment rental Bad debts

EXCESS (DEFICIENCY) OF REVENUES OVER EXPENSES BEFORE OTHER REVENUES (EXPENSES) Forgivable portion of CEBA loan (Note 3) Unrealized gain (loss) on investments

$

$ $

EXCESS OF REVENUES OVER EXPENSES NET ASSETS - Beginning NET ASSETS - Ending

$

$ (136,484) (136,484) $

20,000 100,894 120,894

$

2,244

85,230 1,450,633

1,448,389

$ 1,535,863

$ 1,450,633

The accompanying Notes form part of these financial statements See accompanying notes

$

263,390 33,219 172,711 82,510 38,323 8,667 486 599,306

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ANNUAL REPORT

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 seven scholarships over this past year, totalling over $4,000. Despite uncertainty during the COVID-19 pandemic, the IMA was able to grow the Scholarship Trust Fund thanks to generous donations as part of the 2021 Fall Virtual Symposium (recognized on the last page of the Annual Report). One hundred percent of the $9,000 raised during the Symposium was donated to the Scholarship Trust Fund.

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

Over the past three years, the Scholarship Trustees and Board of Directors have been working to restructure the criteria for the prestigious W.J. Lettner Memorial Award. It is with great enthusiasm that the Trustees can I announce that the Board of Directors has approved modified award criteria to ensure fair and equal access to all IMA members and candidates regardless of geography.

By dividing this prestigious award into two categories (one for A.I.M.A. Designated members and the other for M.I.M.A. Accredited members), the Institute can recognize two exemplary and deserving candidates each member year. Beginning in 2022, the award will be divided into the following categories: •

M.I.M.A. Category ($1,500): Awarded to the M.I.M.A. Accredited member with the highest composite mark on the M.I.M.A. Written Exam and Oral Interview (weighted equally).

•

A.I.M.A. Category ($500): Awarded to the A.I.M.A. Designated member with the highest composite mark for all seven IMA-300s courses (weighted equally).

Congratulations to Jennifer Williston, M.I.M.A. and Bradley Duce, A.I.M.A., as the first recipients of the W.J. Lettner Memorial Award under the revised criteria. Congratulations to all 2021-22 scholarship award winners (photographed below)!

I want to acknowledge and thank my fellow Trustees and Director Callaghan for your time and dedication over the past year.

Francis X. Shea, LL.B Chair, IMA Scholarship Trust Fund

2021-2022 Scholarship Award Winners

Lisa Lee Mario Vittiglio Achievement Award

Sandy Medeiros Christian G. Schulze Award for Excellence

Judy Sauder Carl B. Davis Award for Excellence

Pamod Alawattage IMA Assessors Recognition Award

*Unphotographed*

James Ju Suk Han IMA Assessors Recognition Award

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ANNUAL REPORT

Jennifer Williston, M.I.M.A. W.J. Lettner Memorial Award (M.I.M.A. Category)

Bradley Duce A.I.M.A. W.J. Lettner Memorial Award (A.I.M.A. Category)

2021-22 IMA SPONSORS THANK YOU TO THE FOLLOWING SPONSORS, WHOSE GENEROUS DONATIONS SUPPORTED THE IMA SCHOLARSHIP FUND

DIAMOND

GOLD

PLATINTIM

BRONZE PEGoulet, Property Tax Advisor

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 18

ANNUAL REPORT

CONTACT US INSTITUTE OF MUNICIPAL ASSESSORS

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https://theima.ca/

@the_ima1957

@theima.ca

Institute of Municipal Assessors

INSTITUTE OF MUNICIPAL ASSESSORS | 2021-22