SPRINGFIELD (June 5, 2007) As a result of the recommendation from a task force of the association’s past presidents the association has established a donor advised fund within the Sangamon County Community Foundation (SCCF). The fund has been named “The Capital Area REALTORS® Fund”. A $5,000.00 contribution will serve as seed money to get this fund off the ground. Generally speaking, “this fund is intended for the overall betterment of our community and to enhance the quality of life that it offers”, said Peter Steward, CAAR President.

“This Fund enables our REALTOR® and Affiliate members to make contributions whenever they choose, or to make arrangements so that upon their death a contribution be made to the Sangamon Community Foundation, either as ‘in lieu of flowers’ or a formal direction in their will. Donations of stocks are also acceptable,” said Steward. Steward anticipates that the association will kick-off a formal fundraising effort later this year.

According to Steward, in reviewing this matter the advantages of affiliating with an existing fund became quite clear as the SCCF offers many advantages to donors and their professional advisors. John Stremsterfer, SCCF Executive Director, explains that “by pooling contributions for administration and investment purposes, SCCF incurs lower management costs than a separate private foundation.” “This means more money goes to the desired charities than in other arrangements where overhead costs are higher,” said Steward.

In conjunction with CAAR’s Annual Awards Program held on May 24, 2007 President Steward and Julie Davis, chairman of the task force recommending the establishment of the fund, presented a $5,000.00 check to Stremsterfer who accepted it on behalf of the Foundation. “We are pleased to welcome the Capital Area REALTORS Fund to our rapidly growing family of funds and are extremely excited about the growth potential for this fund,” said Stremsterfer.

In 1924, three of the banks in Springfield created the Sangamon County Community Foundation as a community charitable trust. In 2002 the Foundations’ Board of Directors had the vision to rethink its purpose and find a better way to serve the residents of Sangamon County. This vision resulted in the reorganization of the fund into a community foundation in 2002. Today the Foundation is a family of charitable funds. The Foundation is both a grant maker and partner in supporting the philanthropy of hundreds of area residents. Its mission is to serve the community through philanthropy, to provide leadership in meeting charitable needs and to be a responsible steward to its donors and of its endowment. With endowments totaling over $3 million, the Foundation is a resource for present and future generations. Through it, the combined gifts of many people are meeting current needs and creating a lasting legacy of generations to come. Learn more about SCCF at www.sccf.us .

The Capital Area Association of REALTORS® is the Voice for Real Estate in the Capital Area representing more than 700 members involved in all aspects of the residential and commercial real estate industry.

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