The formation of the Appraisal Institute Relief Foundation grew out of concerns many of our members were expressing soon after the 2005 Gulf Coast hurricanes as to how they could help their colleagues. The Appraisal Institute Relief Foundation was incorporated in December 2005 as a charitable not-for-profit organization. The general purposes of the Foundation are: “To provide emergency financial assistance (i) to members, employees (and dependents of members and employees) of the Appraisal Institute, a nonprofit organization, and (ii) to individuals who have made meaningful contributions to the real estate profession, who have experienced a disaster or emergency that has left the recipient in a state of financial, physical or emotional distress.”

Contributions are welcome at any time from members as well as anyone with a desire to provide assistance. Misa Zane, MAI, from Hawaii, who sits on the Appraisal Institute Board of Directors, is serving as president of the Relief Foundation. Other Relief Foundation Board members include Jim D. Amorin, MAI, SRA, Appraisal Institute 2007 Vice President; Bruce A. Kellogg, MAI, Appraisal Institute 2005 President; George A. Sikorski, MAI, Chicago; David M. Taulbee, MAI, Tampa, FL; and Roy Caves, who is our Mississippi Chapter executive secretary.

Contributions can be sent to:

Appraisal Institute Relief Foundation
c/o Emma Abraham
Appraisal Institute
550 W. Van Buren Street, Suite 1000
Chicago, IL  60607

(312) 335-4288

The Appraisal Institute Relief Foundation is pleased to announce that the IRS has approved our application for 501(c)(3) status. A 501(c)(3)organization is exempt from paying federal income taxes. Additionally, all persons and organizations that make contributions (money or property) to a 501(c)(3) organization are able to claim deductions for their donations on the their federal income tax under section 170 of the Internal Revenue Code.

A Message From the AI Relief Foundation

The Appraisal Institute Relief Foundation Board thanks everyone for their generosity in the wake of Hurricane Katrina. The Foundation developed out of membership interest to provide direct assistance to members and employees of the Appraisal Institute affected by Hurricane Katrina.

In the wake of Hurricane Katrina, the AIRF has received approximately $88,000 in chapter, individual member and Appraisal Institute employee contributions, and has disbursed approximately $74,000 to 45 individuals. Funds received by the Appraisal Institute Relief Foundation are allocated directly to victims requiring assistance, with the exception of marginal administrative costs, which have been limited to required financial accounting services and tax obligations.

The AIRF continues to receive positive feedback from those who have benefited from the disbursements, with disaster victims generally expressing sincere appreciation, particularly as the organization recognized their plight and reached out to provide both personal and financial support. Typifying these responses, one recipient wrote, “You folks prove that people are genuinely good by nature. Those of us who have been caught up in this phenomenal disaster certainly appreciate what you are doing for us.”

The long-range objective of the Appraisal Institute Relief Foundation is to be able to provide assistance as well as serve as a resource center for information on “best practices” in the event of a disaster. The AIRF is presently developing a policies and procedures manual that will include an application process and guidelines for obtaining assistance.

The long-range goal of the AIRF is to be able provide immediate assistance to members who are victims of catastrophic disasters. To that end, the AIRF continues to solicit donations for future needs, and a voluntary contribution to AIRF is now included on the 2007 membership dues notices.

On behalf of the Appraisal Institute Relief Foundation, thank you again for your generosity:
Misa Zane, MAI, President

Jim D. Amorin, MAI, SRA
Roy Caves
Bruce Kellogg, MAI
George A. Sikorski, MAI
David M. Taulbee, MAI