Scholarship Foundation FAQs

Our Mission Statement
What is the Foundation?
Why Give?
Where does my contribution go?
How do I get additional information or make a contribution?
Where can I find information on additional real estate scholarships?

Mission Statement

It is the mission of the OAR Education Fund to provide scholarships to students pursing a Bachelors degree or higher degree with a major or minor in real estate at a four-year degree granting college or university.

What is the Foundation?

The Ohio Association of REALTORS Charitable and Educational Foundation was established by action of the Board of Trustees in September, 1980, and subsequently was given non-profit status by the Internal Revenue Service. The purpose of the fund is the establishment of scholarships for students actively pursuing a four-year degree or advanced in real estate or related field, at Ohio’s colleges or universities offering such a program.

The fund is set up as an endowment to permit the Trustees of the Fund to offer the interest form the principal in the form of scholarships. This will enable the fund to last in perpetuity.

Why give?

By giving to the Ohio REALTORS Charitable and Educational Foundation, you will help a student offset the ever-rising cost of college–and that student, with your help, could be the highest caliber of sales associate to represent your office and our profession.

The student obtaining the award has the distinction of receiving a scholarship from the Ohio REALTORS Charitable and Educational Foundation–something he or she will be proud of for the rest of their lives. In addition, you will be proud of the distinction of having presented a gift to the Foundation. One of the highest achievements a profession can offer is to its’ future is a truly strong and viable Scholarship Foundation to last in perpetuity.

Where does my contribution go?

As stated above, the fund is set up to offer scholarships to students attending college. Annually, members of the Scholarship & Research Committee review applications submitted and award scholarships to applicants who best meet their qualifications.

How do I get additional information or make a contribution?

One of the many ways to make a donation is a gift by Will. A clause in your Will can provide either for that gift you always hoped you could make or for a continuing gift. Using bequests in Wills can be an effective way of contributing to the Ohio REALTORS Charitable and Educational Foundation and reducing the taxable portion of your estate for federal tax purposes.

When drawing a Will, the basic wording your attorney will need is: I GIVE, DEVISE, AND BEQUEATH, TO THE OHIO REALTORS CHARITABLE AND EDUCATIONAL FOUNDATION. (List a percentage, or specific amount or identify the specific property).

Finally, you should consult with your attorney and accountant for specific details and advice on developing this type of donation.

Memorials
Regardless of whether the gift is restricted or unrestricted, you can direct your contribution in honor of your name, a family member, close friend, or memorialize other individuals as a thoughtful way to pay tribute to a persons life or achievement. There are different types of bequests. They are as follows:

Special Bequests
This is the simplest form. You leave whatever type of property in the amount you desire to the Charitable Foundation.

Charitable Testamentary Trust
This type of bequest creates a charitable remainder trust, the income going to one or more beneficiaries, usually for life the principal ultimately goes to the Ohio REALTORS Charitable and Educational Foundation.

Contingent Bequests
You designate the Ohio REALTORS Charitable and Educational Foundation as beneficiary if some condition is not met, such as a spouse, child or other beneficiaries not surviving you.

Residual Bequests
This gives the Foundation the balance of your estate or a portion of it after all expenses, liabilities and specific bequests have been satisfied.

We would encourage you to donate in whatever way you think appropriate. What better way to ensure the future of a calling that has been as rewarding as the real estate profession.

If you wish to contribute, please send donations to:

Ohio REALTORS Charitable & Educational Foundation
200 East Town Street
Columbus, OH 43215
Telephone: (614) 228-6675
FAX: (614) 241-2848

If you would like to receive additional information, please contact Garry Moon in OAR’s Professional Development Group at 614/225.6210, or e-mail moon@ohiorealtors.org

Thank you for your consideration.