Scholarship Foundation

To promote and fund efforts to educate youth on the values of civic and community service and to award scholarships to students who have volunteered and are resources for their community.

We, the Iowa City Area Association of REALTORS^®, created the Scholarship Foundation in 2004 to support the communities in which we live and work.

Our main goal is to promote a commitment to service in
the youth of our communities. We accomplish this through a scholarship program that rewards students for their volunteer work and community service.

The Foundation is directed by a Board of Trustees. The
Trustees can be assisted by special task forces made up of members of the association and the community.

Scholarships are awarded annually to junior high and high school students based on their community service record.
The emphasis on community service mirrors the commitment of REALTOR^® members who devote so many hours to community and civic organizations.

These scholarships are awarded for educational expenses at any accredited college, university, community college, technical or trade school.

Children of REALTOR^® and affiliate members are not eligible to apply.

As a non-profit organization the Foundation serves as an avenue for larger philanthropic activities of the Association. The scholarship program is funded in part by the Association's non-dues revenue.

To raise more funds for the program the Foundation hopes to involve other community businesses and organizations through events such as "Bag the Bounty: 2005 REALTOR^® Treasure Hunt", a large-scale scavenger hunt.

In addition to Association events, individual donors are also needed. There are a number of ways one can contribute to the Scholarship Program.

Memorial Contributions

Memorial contributions are a way to honor a deceased member of ICAAR by giving in that person's name. Funds given to the Foundation in someone's name can be designated for a specific purpose. Example:
The Gene Kroeger Memorial Real Estate Scholarship

Gifts (or Outright Gifts)

Gifts can be made as a onetime contribution or may be
pledged and given over time; they can be cash, securities or
personal property, no interest is retained by the donor.

Wills & Bequests

The Foundation can be named as a beneficiary in a will.

Life Insurance & Retirement Plans

The Foundation can be named as a beneficiary.

Charitable Trusts

There are several forms that involve the division of funds between donor and donee.

Gifts, trusts and grants may be designated for a specific purpose through the Foundation.

Philanthropy is based on voluntary action for the common good. It is a tradition of giving and sharing that is primary to the quality of life. To ensure that philanthropy merits the respect and trust of the general public, and that donors and prospective donors can have full confidence in the nonprofit organizations and causes they are asked to support, we declare that all donors have these rights:

I. To be informed of the organization's mission, of the way the organization intends to use donated resources, and of its capacity to use donations effectively for their intended purposes.

II. To be informed of the identity of those serving on the
organization's governing board, and to expect the board to exercise prudent judgment in its stewardship responsibilities.

III. To have access to the organization's most recent financial statements.

IV. To be assured their gifts will be used for the purposes for which they were given.

V. To receive appropriate acknowledgement and recognition.

VI. To be assured that information about their donation is handled with respect and with confidentiality to the extent provided by law.

VII. To expect that all relationships with individuals representing organizations of interest to the donor will be professional in nature.

VIII. To be informed whether those seeking donations are volunteers, employees of the organization or hired solicitors.

IX. To have the opportunity for their names to be deleted from mailing lists that an organization may intend to share.

X. To feel free to ask questions when making a donation and to receive prompt, truthful and forthright answers.