IMA 2020-2021 Annual Report

2020 - 2021

ANNUAL REPORT

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ANNUAL REPORT

CONTENTS

PAGE

03

VISION, MISSION, VALUES

04

05

LETTER FROM THE PRESIDENT Terry Peckham, M.I.M.A.

LETTER FROM THE EXECUTIVE DIRECTOR Tyler Callaghan, MBA

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 Tyler Callaghan, MBA

08 11

15

17

2020-21 FINANCIALS

IMA SCHOLARSHIP TRUST FUND

18

2020-21 IMA SPONSORS

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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. ©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

LETTER FROM THE PRESIDENT

I have the pleasure of introducing this annual report on behalf of the Institute of Municipal Assessors for the 2020/21 year of operation.

The Institute of Municipal Assessors is a non-profit organization that services its members everywhere by providing strong educational offerings including designation programs, webinars, seminars, and conferences that connect members together in the Assessment and Taxation community across Canada. The organization is more than 1200 members strong and has members across Canada. There are 10 directors and 5 executive positions with the IMA Executive which includes the President, 1st Vice-President, 2nd Vice-President, 3rd Vice-President and the past President.

This past year we have identified ways to maintain our educational program to ensure continued relevance for today and into the future. Through research and discussions with our key stakeholders, we have identified needs in our assessment community and we are acting to meet those needs for the future.

Our recently completed strategic plan will help guide the organization for 2021, 2022 and 2023. This new plan will allow the organization to grow and develop as a center for excellence in property assessment serving the assessment community.

The Board and Executive have considered our needs for the futures and have set this plan in motion with a strong vision of excellence for the future.

Even though we have been faced with a pandemic, the organization has grown and evolved in many ways: We have had year of year membership growth which shows the value of the organization, we have been successful in transitioning to “on-line” educational offerings and examinations, and we have been successful with our first ever virtual symposium last fall.

The organization remains strong financially and to ensure that continues, the Executive and Board have addressed membership fees for the future. This will ensure that the IMA will continue to meet the requirements of its members everywhere and will evolve to ensure that our memberships remain relevant and valuable to the assessment community and stakeholders.

Once you have had an opportunity to review this annual report, you will see that it represents the vision and successes of our great organization.

Sincerely,

Terry Peckham, M.I.M.A. President of the Institute of Municipal Assessors

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ANNUAL REPORT

LETTER FROM THE EXECUTIVE DIRECTOR The past twelve months have been unlike any other. While the IMA was forced to adjust operationally in response to the pandemic, we continued important strategic work and remained focused on organizational evolution.

The pandemic tested our flexibility and responsiveness as an organization. Like many associations, the Institute ushered in a virtual revolution as we found new ways to deliver value for those we serve. As events, educational offerings, and Institute business moved online, we embraced the digital shift and transformed in ways that will long outlive the pandemic.

The IMA continued to drive critical developments along a transformational course focused on innovation, partnerships, and member value. Those developments culminated with the unveiling of the 2020-23 Strategic Plan built on four key pillars: Educate, Grow, Lead, and Govern.

As the fiscal year closed, we remained committed to the IMA’s operational health, adjusting quickly to change. I commend all Committees for their exceptional ability to respond and adapt while remaining steadfastly focused on our members.

I am extremely grateful for the leadership of our Board of Directors, and for the dedication of our volunteers, members, and IMA staff, who remained dedicated to the Institute’s values as we navigated the complex times together. We emerged stronger and move into the future with renewed determination.

Tyler Callaghan, MBA Executive Director

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ANNUAL REPORT

THE IMA TEAM EXECUTIVE COMMITTEE

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

Caterina Chiarandini, M.I.M.A. 1st Vice President

Greg Martino, M.I.M.A. 2nd Vice President

Charles Johnstone, M.I.M.A. 3rd Vice President

Greg Baxter, M.I.M.A. Past President

Tyler Callaghan, MBA Executive Director

DISTRICT DIRECTORS

Janice Desjarlais, M.I.M.A. District #1 Director

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

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

Sabrina Vizzacchero, M.I.M.A. District #4 Director

Catherine Brindley, A.I.M.A. District #5 Director

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

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

Lisa Beaulieu, A.I.M.A. District #8 Director

Dave Zabloski, 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

Sarah Cooper Communications Specialist

Tara Moran, ACCA Manager of Finance

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ANNUAL REPORT

DISTRICT EXECUTIVES

1 2 3 4 5 07

District 1 Director: Janice Desjarlais, M.I.M.A. Benn McBride, M.I.M.A. Jane Sokol-Kennedy, A.I.M.A. Geoff Watts, M.I.M.A.

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

District 5 Director: Catherine Brindley, A.I.M.A. Justin Johnstone, Affiliate Marc Laurin, M.I.M.A. Tammy Woods, A.I.M.A.

ANNUAL REPORT

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.

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: Dave Zabloski, M.I.M.A. Dani-Rae Anttonen, A.I.M.A. Emily Hopkins, M.I.M.A. Kurt Marcinko, A.I.M.A.

District 10 Director: Reg Stoyles, M.I.M.A. Anita Fowler, Affiliate Kenneth Glynn, A.I.M.A. 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. Don Hearn, M.I.M.A. Larry Hummel, M.I.M.A. Jessica Martini, M.I.M.A. Brian Moore, M.I.M.A. 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. Nicole McAninch, A.I.M.A. Mark Scott, A.I.M.A.

Continuing Professional Development (CPD) Committee Chair: Natalie Holmes, A.I.M.A. Stacey Armstrong, 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: Greg Baxter, M.I.M.A. Elizabeth Gibson, M.I.M.A. Dominic Mariano, M.I.M.A. Terry Tomkins, M.I.M.A.

Membership Committee

Chair: Jason Vink, M.I.M.A. Musse Abdulkarim, M.I.M.A. Andrew Martins, M.I.M.A.

Scholarship Trust Fund Trustees

Chair: Frank Shea, Affiliate Sean Martin, M.I.M.A. Terry Peckham, M.I.M.A. Karen Russell, M.I.M.A. Belinda Schubert, Affiliate

AD HOC COMMITTEES Future of the IMA Committee

Chair: Tyler Callaghan, MBA IMA Executive Director Lisa Beaulieu, A.I.M.A. Caterina Chiarandini, M.I.M.A. Charlene MacNeil, M.I.M.A. Carlos Resendes, M.I.M.A. Drew Samuels, A.I.M.A. Jason Vink, M.I.M.A.

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ANNUAL REPORT

2020-23 STRATEGIC PLAN 09

ED UCATE STRATEGIC OBJECTIVE

STRATEGIC GOALS

SAMPLE SUPPORTING ACTIONS

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 OBJECTIVE

STRATEGIC GOALS

SAMPLE SUPPORTING ACTIONS

Increase the IMA’s membership by serving all career levels and forging strong strategic partners.hips,

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

Develop framework for a specialist designation track.

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.

LEAD STRATEGIC OBJECTIVE

STRATEGIC GOALS

SAMPLE SUPPORTING ACTIONS

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.

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.

GOVERN STRATEGIC OBJECTIVE

STRATEGIC GOALS

SAMPLE SUPPORTING ACTIONS

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

ANNUAL REPORT

-

BY THE NUMBERS Membership Breakdown:

Membership Total Membership: New Members in 2020/21:

1,259 129

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

48 2

Affiliate 273 A.I.M.A. 514 M.I.M.A. 376 Retired 23

Retired (35+) 54

M.I.M.A. Life 19

TOTAL 1,259 (+17 from 2019/20)

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

501 527

Webinars Total Webinar Attendance:

1,062

2020 Virtual Symposium Attendance:

287

307

Attendees

Most Attended Webinar: COVID-19: Assessment Valuation Challenges

Revenues Membership Education Program Conference Webinars Interest Income Grants and Subsidies

43% 28% 13% 6% 5% 3%

Website theima.ca visitors:

theima.ca views:

7,302 163,224

Total revenue 2020-21: $720,199

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ANNUAL REPORT

COMMITTEE REPORTS

ACCREDITATION COMMITTEE

11

Like the rest of the world, 2020-21 was a year of change and adjustments for the Accreditation Committee. Dedicated to serving the needs of our members, we were tasked with moving programming online and tapping into new digital opportunities. One of those opportunities was the ability to profile the designation and Accreditation programs on the IMA’s new website.

Over the last twelve months, the M.I.M.A. written exam and oral interview were completely updated and moved online to accommodate the changing world around us. Accreditation candidates are now able to complete their M.I.M.A. written exam with an online proctor and oral interview over Zoom.

In August, the IMA launched the Prior Learning Assessment and Recognition (PLAR) program, which provides members the opportunity to apply external academic accomplishments towards the A.I.M.A. and M.I.M.A. designation and accreditation programs. While the program currently recognizes courses through Seneca College and UBC, PLAR provides the framework to expand the list.

PLAR was designed to standardize formal recognition for external course completions, reduce the time required to complete the IMA designation/accreditation programs, reduce the cost of completing the IMA designation/accreditation programs and decrease learning duplication. Members were quick to take advantage of the new program and we were thrilled with the response.

In total, 48 members earned their A.I.M.A. designation, while another 2 earned 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!

I would like to thank all the volunteers of the Accreditation Committee for their dedication and support over the last year.

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

COMMUNICATIONS SERVICES COMMITTEE It is my pleasure to report on the achievements of the Communication Services Committee over the past year. While it was certainly not the year we had envisioned back in March 2020, new challenges presented new opportunities and accelerated the pace of change in the way we communicate with members.

In fall 2020, we upgraded the Insti-News reading platform, transitioning to a fully mobile-friendly digital solution. The new platform enhances the reader experience and allows for the integration of digital content, such as video. This upgrade opens news possibilities for the type of content we can publish in Insti-News and we are very excited to roll out new content.

Despite the many challenges posed by the COVID-19 pandemic, it provided no shortage of content for Insti-News and our social platforms. While the effects of the pandemic were changing daily, our Committee tried to act as the curator for relevant information that barraged assessment professionals.

The pace of change also presented an opportunity to rethink our publication schedule. Traditionally, our Committee released four publications of Insti-News per year. With the rapidly changing landscape, the time between issues presented new challenges. As result, we launched our first enewsletter in March 2021 to ensure the timely distribution of relevant news.

Moving forward, enewsletters will be released during all non-Insti-News months to enhance communications.

Thank you to all those who submitted articles and the rest of the Communications Services Committee for stepping up during such a dynamic year!

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

ANNUAL REPORT

CONTINUING PROFESSIONAL DEVELOPMENT (CPD) COMMITTEE As the 2020-2021 fiscal year comes to a close, we are proud to say that we, the IMA’s CPD Committee, have attained a great deal of achievements in the first half of Cycle 4.

Although the days of in-person CPD events have been absent, we can say that the IMA has had a sufficient range of CPD offerings and a higherthan-normal volume of CPD requests for approval. With the help of everyone on the committee, we have been able to respond to such requests in an adequate timeframe.

It goes without saying that the CPD Committee’s biggest accomplishment has been the development of the online Mandatory Ethics Refresher Course “Navigating Ethical Dilemmas”. This mandatory offering exhibits our dedication to ethical professional conduct and provides a foundational review on the IMA’s Code of Ethics and Professional Standards. Thus, we have made it a mandatory course that must be completed by all members by the end of CPD Cycle 4.

The course consists of 6 modules based on 6 unique ethical scenarios that members must answer a series of thought-provoking questions and a quiz before moving onto the next scenario. Upon completion, members are awarded 3 Learning Credits with the IMA and the course has also been recognized and approved by the Law Society of Ontario for 2 hours and 15 minutes of professionalism content and 45 minutes of EDI Professional Hours. The CPD Committee, together as a team, finalized and polished the mandatory online course in time for our scheduled launch date in December 2020.

As Chair of the CPD Committee, I’d like to thank Tyler, 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.

Natalie Holmes, A.I.M.A. Chair, Continuing Professional Development Committee

MEMBERSHIP COMMITTEE The 2020-21 membership cycle was filled with new initiatives and system upgrades to enhance the member experience. As industries shifted to remote working and learning, the IMA pivoted and “upped its virtual game”. To help guide those changes, a detailed membership survey was conducted, and subsequent focus groups were hosted throughout 2020.

The first, and most impactful upgrade was an overhauled and modernized IMA website. Designed to enhance the user experience, the new website went live over the summer of 2020, receiving a very positive response. Along with the refreshed website, a new member portal and database were integrated to improve communications, centralize IMA activities, and create an interactive online community.

Along with the website upgrades, the IMA implemented a social media strategy to improve communication initiatives with current and future members on Facebook, LinkedIn and Twitter. Over the year, audiences on all three platforms have grown significantly and we look forward to further developing these channels. Over the summer of 2020, the IMA offered two free webinars addressing the impacts of COVID-19 as a member benefit. In total, over 600 members took part in the webinars and feedback was very positive.

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 February 2021 on behalf of the Committee.

Despite the challenges posed by the pandemic, the IMA managed to grow its year-over-year membership. Thank you to all Committee members for an eventful and successful year.

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

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ANNUAL REPORT

COMMITTEE REPORTS

NOMINATING COMMITTEE

13

The purpose of the Nominating Committee is to: Manage the annual nominations and election processes for the IMA Executive positions (President, 1st, 2nd and 3rd Vice-Presidents). In a typical year, the nominations process would begin in late March or early April. Defining the situation in March or April 2020 as “less than typical” would be an understatement. The world was in the early weeks of the COVID-19 pandemic and individuals/organizations were being asked to enact dramatic changes.

To stabilize the organization and provide leadership continuity during those very uncertain times, the Board of Directors approved the extension of all Board member terms by one year to focus on key priorities. Consequentially, no election was held in 2020.

I am pleased to report the Nominating Committee has completed the 2021-22 IMA Executive nomination and election process.

A verbal report will be made at the 2021 Annual General Meeting on Monday June 14, 2021 announcing the 2021-22 slate.

I thank my fellow Nominating Committee members for their support over the last two years. I have truly enjoyed my time as a member of the IMA Executive and highly recommend the experience taking on a leadership role within our professional association.

Greg Baxter, M.I.M.A. Chair, Nominating Committee

FUTURE OF THE IMA AD HOC COMMITTEE In May 2020, the Board of Directors approved the creation of the Future of the IMA Ad Hoc Committee for the purpose of developing and drafting the IMA’s 2020-23 Strategic Plan. Over the spring and summer of 2020, the seven-member Committee met to analyze, define and prioritize strategic goals and actions for the IMA. Early on in the process, the Committee drafted an updated Vision, Mission, and Values Statement which served as a strong foundation for the strategic plan. Four key pillars were then identified to further bolster organizational excellence: Educate, Grow, Lead, and Govern. The Committee engaged in several meaningful discussions relating to strategic objectives, goals, and sample supporting actions for each pillar.

During the fall of 2019 and spring of 2020, Urban Counsel conducted independent research in the form of membership survey and series of stakeholder focus groups. In June 2020, Urban Counsel presented their findings to the Future of the IMA Committee to ensure stakeholder priorities were well-represented in the development of the 2020-23 Strategic Plan.

In August 2020, the Committee tabled a final draft to the Executive Committee before presentation to the Board of Directors for input and final approval. The IMA 2020-23 Strategic Plan was officially unveiled at the 2020 Fall Virtual Symposium and presented at subsequent District Meetings. A hard copy was mailed to all members in March 2021.

I would like to express my thanks and appreciation to all Committee members for their service and dedication throughout this process. Due to these collaborative efforts, the IMA is in a great position and will emerge stronger than ever as we achieve the goals as set out in the plan.

Caterina Chiarandini, M.I.M.A. Ex-Officio Executive Member, Future of the IMA 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 2020-21 audited financial statements. The Institute’s auditing firm, Formusa Zuccaro LLP, has reported that the financial statements present fairly, in all material respects, the financial position of the organization as at March 31, 2021 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 fiscal year, we have experienced both successes and challenges while navigating the financial complexities of the COVID-19 pandemic. The IMA office, with the support of the Board, swiveled quickly in response to member and operational needs. Throughout the pandemic, the IMA remained focused on the financial health of the organization. We monitored risk, sought relief through government programs, and were quick to adjust to the financial implications of the pandemic.

After a challenging 2019-20 fiscal year-end position, I am pleased to report the IMA reserve account has recovered to prepandemic levels. Operations and investments resulted in an overall surplus of $2,243 for the 2020-21 fiscal year. The Board of Directors continues to work closely with IMA staff as we chart our path forward in our new reality.

Thank you.

Tyler Callaghan, MBA Treasurer

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ANNUAL REPORT

INSTITUTE OF MUNICIPAL ASSESSORS

2020-21 FINANCIALS

Statement of Financial Position As at March 31, 2021

2021

2020

ASSETS CURRENT Cash Short term investments - Schedule 1 Accounts receivable HST recoverable Prepaid expenses

$

LONG TERM Capital assets- office furniture & equipment Accumulated amortization

$

19,223 1,621,084 3,906 9,425

$

1,653,638

1,608,175

52,932 (29,106)

49,095 (23,629)

23,826

25,466

1,677,464

$

1,633,641

3,773 26,489

$

49,924

LIABILITIES CURRENT HST payable Accounts payable and accrued liabilities - Note 5 Unearned membership fees (2021-2022), prior year (2020-2021) LONG TERM Bank loan - Note 6

156,569

135,327

186,831

185,251

40,000 226,831

185,253

1,450,633

1,448,390

NET ASSETS NET ASSETS $

1,677,464

$

APPROVED ON BEHALF OF THE BOARD

Caterina Chiarandini

Director

The accompanying Notes form part of these financial statements ACCESS FULL FINANCIALS HERE 15

121,236 1,477,255 2,473 4,326 2,885

ANNUAL REPORT

1,633,641

INSTITUTE OF MUNICIPAL ASSESSORS Statement of Revenues and Expenditures For the Year Ended March 31, 2021 2021 REVENUES Membership fees Tuition fees Annual conference Professional seminar Investment income Penalties and sundry Accreditation

$

$

EXPENDITURES Salaries and benefits - Schedule 2 $ Professional fees, management and director fees (Notes 3(b) and 3(c)) Preparation of course materials and instructors Website update, printing and office supplies - Schedule 2 Office rent Bank charges and miscellaneous Telephone and telecommunications Donation to IMA Scholarship Trust Fund - Note 4 Annual conference - Schedule 2 Amortization Committee and travel - Schedule 2 Insurance Equipment rental Professional seminars Postage and express Bad debts EXCESS OF (EXPENDITURES OVER REVENUES) REVENUES OVER EXPENDITURES

Forgivable portion of CEBA loan (Note 6) Decrease (increase) in reserve to value mutual fund investments at market value NET EXCESS OF REVENUES OVER EXPENDITURES (EXPENDITURES OVER REVENUES)

$

2020

263,390 172,711 82,510 36,271 33,219 10,718 486 599,305

$

$

262,324 156,037 114,932 29,808 35,365 32,377 1,051 631,894

233,322

$

254,704

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

39,221 79,524 13,947 29,642 18,576 3,640 6,845 93,090 4,257 46,939 4,185 742 7,878 2,115 923

717,956

606,228

(118,651)

25,666

20,000

-

100,894

(59,504)

2,243

$

(33,838)

The accompanying Notes form part of these financial statements ACCESS FULL FINANCIALS HERE 16

ANNUAL REPORT

IMA SCHOLARSHIP TRUST FUND This past year has been like no other. The IMA, like all organizations, has faced significant challenges in functioning during a pandemic. Despite these challenges the IMA remained committed to funding all its IMA scholarships. I am pleased to advise that the IMA honoured its commitment and awarded all five scholarships.

At the 2020 Fall Virtual Symposium the IMA unveiled the inaugural Carl B. Davis Award for Excellence.

The $500 award is presented annually to the student who achieves the highest mark in IMA-321: Fundamentals of Canadian Assessment Law. This year’s winner is Dustin Mate of Municipal Property Assessment Corp.

Dustin was recognized at the District 3 meeting on May 6, 2021.

The new and improved IMA website as well as social media platforms presented new opportunities to promote the Scholarship Trust Fund and celebrate award winners. The upgraded member portal simplified the donation process and generated automatic tax-deductible receipts.

Despite the financial challenges of the COVID-19 pandemic, the IMA were fortunate to grow the Scholarship Trust Fund thanks to generous corporate donations as part of the 2020 Fall Virtual Symposium (recognized on the last page of the Annual Report). One hundred percent of the $6,750 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 doners for your generous contributions supporting the next generation of property assessment professionals. Learn more about the IMA Scholarship Trust Fund and available scholarships here.

Congratulations to all the 2020-2021 recipients! Thank you to the Trustees for your time and dedication.

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

2020-2021 Scholarship Award Winners

Mary Murrill, IMA Achievement Award

Benjamin Kwok Po Leung, Christian G. Schulze Award for Excellence

Cathy Gu, IMA Assessors Recognition Award

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ANNUAL REPORT

Dustin Mate,

Carl B. Davis Award for Excellence

Ece Ertac, IMA Assessors Recognition Award

2020-21 IMA SPONSORS THANK YOU TO THE FOLLOWING SPONSORS, WHOSE GENEROUS DONATIONS SUPPORTED THE IMA SCHOLARSHIP FUND

DIAMOND

PLATINUM

SILVER

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

10720 Yonge Street, Suite 206 Richmond Hill, ON L4C 3C9 905-884-1959 1-877-877-8703 info@theima.ca

https://theima.ca/

@the_ima1957

@theima.ca

Institute of Municipal Assessors

INSTITUTE OF MUNICIPAL ASSESSORS | 2020-21