The Appraisal Foundation Board of Trustees Overhauls Governance Structure, Ending Direct Appointments by Outside Organizations

January 8, 2024

The Appraisal Foundation Board of Trustees has undertaken a significant governance overhaul, marking the first major restructuring in over a decade. The changes include ending direct appointments to the Board of Trustees by outside organizations, introducing a new partnership opportunity for organizations aligning with the Foundation's mission, and revamping the governance structure. The Board, after 18 months of work, has made the governance more nimble and transparent, eliminating earmarks for seats, transitioning to targets for equitable representation, and creating a partner category for organizations supporting the Foundation's goals. Trustee nominations will now involve public interviews, and the board leadership structure has been streamlined for efficiency and clarity. Additionally, a continuous review mechanism has been established to assess governance and board structure regularly. These immediate bylaw changes aim to strengthen relationships, foster transparency, and uphold public trust in the appraisal profession. Learn more about the new Partner category on the Foundation’s website.

ASA CEO Johnnie White spoke to the changes saying, “ASA supports TAF’s efforts to improve its governance structure, and in the process improve public trust in the appraisal profession. ASA believes that as Partners moving forward, our work with TAF and fellow Partners will only strengthen the profession and how it is viewed by the public.”

Learn more about this topic by The Appraisal Foundation as seen on their website

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