Press Release: The Akron Cleveland Association of REALTORS® Creates $50,000 Agency Endowment Fund
Independence, Ohio — On Monday November 3rd, the Akron Cleveland Association of REALTORS® (ACAR) made a $50,000 gift to Akron Community Foundation to establish the Real Estate Community Cares Fund. The fund is from charitable contributions donated for the betterment of the community. This agency endowment fund will provide perpetual funding to support local charities actively involved in our community through financial donations with a special emphasis on housing-related charities
Agency endowment funds at Akron Community Foundation generate a predictable stream of income for a nonprofit organization, leaving a majority of the assets to grow in perpetuity. They offer the flexibility to meet the nonprofit’s immediate needs while ensuring assets are always preserved for the group’s long-term mission. The community foundation protects the fund’s assets from being spent for any other purpose.
“The Real Estate Community Cares fund will support the following worthy causes in 2014/2015: REALTORS® Relief Foundation, Rebuilding Together, Neighborhood Housing Services of Greater Cleveland, Jeremy Cares, and Akron Children’s Hospital,” said Seth Task President of ACAR. Akron Community Foundation has worked with many area nonprofits and is a trusted resource when it comes to long-term investing and financial stewardship. “This partnership allows ACAR to focus on serving our membership and being the voice of real estate in Northeast Ohio while ensuring that we continue to give back to our communities.” Said Task
Real Estate Community Cares Fund welcomes gifts of all kinds, including cash, bequests, stock, real estate, life insurance and retirement assets. Gifts can be made online at www.akroncf.org/give/RealEstateCaresFund or by calling 330-376-8522.
About the Akron Cleveland Association of REALTORS®
On October 15, 2013 the Akron and Cleveland area Boards merged and became the Akron Cleveland Association of REALTORS® (ACAR). The Cleveland Area Board of REALTORS® was incorporated on June 25th 1892 and was originally known as The Cleveland Real Estate Board. The Akron Area Board of REALTORS® was incorporated on March 22, 1912. A small room in the old Buchtel Hotel at the corner of Main and Mill Streets was the site of the meeting where eighteen local businessmen met. Today, it’s working to be the leading voice of real estate in Northeast Ohio. For more information about the Akron Cleveland Association of REALTORS®, call 330-443-6677 (Akron Office), 216-901-0130 (Independence Office) or visit www.AkronClevelandRealtors.com
About Akron Community Foundation
Celebrating 59 years of building community philanthropy, Akron Community Foundation embraces and enhances the work of charitable people who make a permanent commitment to the good of the community. In 1955, a $1 million bequest from the estate of Edwin Shaw established the community foundation. Today, it is a philanthropic endowment of $181 million with a growing family of more than 450 funds established by charitable people and organizations from all walks of life. The community foundation welcomes gifts of all kinds, including cash, bequests, stock, real estate, life insurance and retirement assets, just to name a few. To date, the community foundation’s funds have awarded more than $114 million in grants to qualified nonprofit organizations. For more information about Akron Community Foundation or to learn more about creating your own charitable fund, call 330-376-8522 or visit www.akroncf.org.