FAQs about the Campaign
All of these answers are based on proposals/suggestions for the Foundation. The actual Foundation details will be determined by NAR.
The Board of Directors (BOD) of the National Association of REALTORS® will approve the creation of the Foundation along with its governing documents. Of course, it will be vetted from legal and financial standpoints.
Those who have suffered catastrophically from disease, accident, or acts of God and qualify according to the guidelines established by NAR will benefit. The campaign intention is that all sources of aid and funding have been exhausted by the person needing assistance. Those persons eligible would be the class approved by NAR and the IRS. The campaign proposes those who have been REALTORS® for two years, their immediate families, and those who have been staff for two years.
A confidential application would be completed and sent to the NAR staff person responsible. The application would be checked out. It would then be sent to a Grant Committee of the Foundation Trustees who would then determine, under an agreement of confidentiality, the award. In order to protect the dignity of the individual and family the names of recipients would not be revealed.
There will probably be an “up to” amount that is the maximum for a calendar year. That amount will be determined in the founding documents. The amount will be whatever NAR deems appropriate for example up to $5,000 or $10,000.
Payment is made to vendors or to service providers and not the individual.
Specific guidelines should be a part of the Foundation documents, operating policies and application for assistance. The intention is to assist in expenses related to but not limited to health, shelter, rehabilitation, nurses, doctors, medicine, funerals. It is not intended to pay business expenses including dues or business overhead. Specific guidelines are vital to a quick decision on an application.
IRS approval of the Foundation including the benefiting class.
It is envisioned to go through the normal process of committees, leadership, Executive Committee and finally the BOD. A diverse work group or PAG may be the starting point to craft a proposal.
Strategic Objective 5: Strengthen the relationships between the REALTOR® Organization and REALTORS®
The campaign believes initial funding should be by NAR, and once established with the Foundation would accept contributions, memorials and honorariums.
The BOD/Trustee appointment process will be determined by NAR when approving the establishment of the Foundation. It could be any number of ways: NAR Presidential Appointment; or, after naming the initial BOD/Trustees, the BOD/Trustees elect their replacements; or the Foundation recommends to NAR a slate for NAR approval; or? There are legal restrictions and IRS restrictions that must be taken into account
That Foundation, which has done may good works, requires that the area being given money to have been declared a disaster area in the USA and its territories and possessions. The scope is huge. It has given to 9/11; Katrina; Haiti; the Nashville floods; etc. It is given as out reach to communities...a humanitarian outreach. The Benevolent Foundation would serve individual members of the REALTOR® Family. It could be called “in-reach”. It compliments the REALTORS® Relief Foundation and completes the REALTOR® Circle of Compassion.