Offered by:
Ohio Colleges, Universities,
Local Boards/Associations of REALTORS and
State Chapters of NAR Institutes, Societies and Councils
INTRODUCTION
The following scholarship information was collected through a survey sent to Local Boards/Associations of REALTORS, Ohio colleges and universities and Ohio chapters of NAR institutes, societies and councils by the Ohio REALTORS Charitable and Educational Foundation.
Included is the name of the entity offering the scholarship along with the name of the scholarship, the address, amount available each year, the person to contact for more information or an application and any restrictions and guidelines on the scholarship (if provided).
The directory is coordinated and compiled to provide information to the prospective student(s) in real estate.
Other scholarships or grants may be available to students in other areas such as additional financial assistance outside the field of real estate.
For more information, you may want to contact the financial aid office of the respective institution of higher learning.
The directory is available on-line at www.ohiorealtors.org go to the Education section and click on Scholarship. The directory is listed under the scholarship section.
THE OHIO REALTORS CHARITABLE AND EDUCATIONAL FOUNDATION
The Ohio REALTORS Charitable and Educational Foundation was established by action of the Board of Trustees in September, 1980, and subsequently the Internal Revenue Service gave the Fund non-profit status.
The purpose of the Foundation is the establishment of scholarships for students actively pursuing a Bachelors Degree or higher degree in real estate at Ohio's colleges and universities that provide such a program. At present, there are seven eligible colleges and universities. In 1986, a mission statement and long term goals were set and subsequently revised in 1995. The first two scholarships were offered in 1987 at a minimum of $1,000 each. Scholarships have also been awarded in each year through the present. They are offered to the institutions in the student’s name(s) that are selected after proper application.
The Foundation is set up as an endowment to permit the Trustees of the Foundation to offer the interest from the principal in the form of scholarships. This will enable the Foundation to last in perpetuity.
The Trustees retain the right to refuse a gift in certain circumstances. However, we are pursuing donations to the Foundation so that we can continue to offer qualified students scholarships to promote the professionalism of the REALTOR.
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.
There are three different accounts within the Foundation.
- The Helen Hendershott Memorial Scholarship Fund, named in honor of the long term secretary of the Ohio State Real Estate Commission.
- The unrestricted scholarship account fund
- The Property Disaster Relief Fund
When donating to the Fund, please indicate whether it should go to scholarship or disaster relief.
MEMORIALS
Regardless of whether the gift is restricted or unrestricted, you can direct your contribution in honor of your name, a family member, or close friend, or memorialize other individuals as a thoughtful way to pay tribute to a person's life or achievement. There are different types of bequests. They are as follows:
SPECIFIC 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 OR NEED ADDITIONAL INFORMATION, PLEASE SEND ALL DONATIONS TO:
Ohio REALTORS Charitable & Educational Foundation
Attn: Garry Moon, 200 East Town Street, Columbus, OH 43215, Telephone: (614) 228-6675, FAX: (614) 241-2848
E-mail: