President's Message
I hope everyone enjoyed a wonderful holiday season and that the new year is off to a great start. For those of us in the Philadelphia area, 2026 carries special meaning as we approach the 250th anniversary of the signing of the Declaration of Independence in Old City Philadelphia at Independence Hall, the semi quincentennial (though “bicentennial” was certainly easier to say!).
In her final President’s Message of 2025, Paula Konikoff shared that serving as Appraisal Institute President was the highlight of her career. With just a few weeks of 2026 behind us, I can already echo that sentiment.
We’ve hit the ground running. During the first week of January, the Board of Directors made two significant decisions at a Special Board Meeting. First, Interim CEO and COO John Udelhofen was officially appointed CEO. His full bio is available on our website, but in brief, John joined AI in May 2024 focused on strengthening our financial position. His role later expanded to COO, and then interim CEO as of September 2024. Throughout his career across multiple industries, he has consistently led organizations through transformation, modernization, and growth. That is exactly the leadership we needed in 2025, and I applaud the Board’s decision to have him continue guiding the execution of the Appraisal Institute’s strategies into 2026.
Second, the Board elected Smedmore M. Bernard, Jr., MAI as our 2026 Vice President. With Ashley Johnson, MAI, SRA elected as 2025 Vice President in November, we now have a full slate of executive officers for the year, including Immediate Past President Konikoff. I am excited to work with Ashley, Smed, Paula, and John, three talented and dedicated member officers, and our highly capable CEO, to build on the momentum of 2025 throughout the year ahead.
Member engagement remains one of the most rewarding aspects of serving as an officer. Traveling to chapter events, installation ceremonies, and regional meetings gives us the opportunity to connect, meeting new people, reconnecting with old friends, and having honest, one on one conversations. Those discussions help us better understand the issues our members face and how we can support their professional success while improving as an organization.
Along those lines, all officers will be delivering our quarterly State of the Appraisal Institute updates to all 10 regions in the coming weeks. This quarter’s discussions feel especially timely as members are navigating a variety of questions about the organization, finances, and other topics. At recent installation events with the Wisconsin Chapter and the Western Pennsylvania Chapter, we engaged in robust Q&A, and those in attendance expressed how valuable it was to have a national officer there to address their questions directly, rather than relying on email chains or social media commentary.
Before we all get back to work, I want to highlight our upcoming annual conference in April, held this year in Nashville. The theme is Back in Tune: Striking a New Chord in Valuation, and I am thrilled that we are once again hosting this important national event. Following Joint Regional Meetings on Monday, April 13, the two-day conference on April 14–15 will feature three educational tracks, residential, commercial, and professional growth, along with numerous CE opportunities. We will also host our first ever University Valuation Case Challenge, showcasing talented university students from across the country as they present to senior industry leaders, with advancing teams gaining exposure to major employers and the appraisal profession.
Our keynote lineup is outstanding. Highlights include an interactive State of America 2026 presentation from Dr. Frank Luntz, a well-known political, business, and media consultant, author, and frequent commentator, once described by the New York Post as “the world’s most influential person in politics.” It promises to be an event you will not want to miss.
As we approach our organization’s own centennial, I am committed to doing my best to ensure we reach that milestone in the strongest position possible.
Michael J. Acquaro-Mignogna, MAI, SRA, AI-GRS
President
Appraisal Institute