Since 2021, proceeds from REALTOR® Fund events have continued to surpass previous years' proceeds because of the generosity of our sponsors and member contributions. Due to that tremendous growth and recommendation of the REALTOR® Fund Committee, the GAAR Board has established an Emergency Relief Fund, a subset of the REALTOR® Fund.
The Emergency Relief Fund provides GAAR the ability to make meaningful donations for relief in the event of major disasters in New Mexico. The GAAR Board is authorized to distribute emergency funds when the use of these funds meets the following criteria; the protection of lives, property, public health and safety, or to lessen or avert the threat of a catastrophe in New Mexico.
Two Funds. Two Purposes.
The Emergency Relief Fund is designated for emergency circumstances, as opposed to the REALTOR® Fund which is utilized for traditional charitable donations. The Emergency Relief Fund is managed by the Albuquerque Community Foundation (ACF), invested in money market accounts overseen by ACF, and maintains a balance of $50,000. The Emergency Relief Fund is managed and invested separately from the existing REALTOR® Fund endowment that is also held at ACF.
In the event of a natural disaster within New Mexico, the REALTOR® Fund Committee will discuss the situation at either a scheduled or emergency meeting. If the Committee sees fit, a recommendation and request for board action will be presented to the Executive Board. The Committee may recommend allocation of up to 50% of the fund balance for any single emergency.
The fund will be replenished from the annual REALTOR® Fund event fundraisers. Monies raised for the REALTOR® Fund will first be allocated to replenish the Emergency Relief Fund up to a $50,000 balance with any remaining funds deposited to the REALTOR® Fund.
Major GAAR events will continue to benefit the REALTOR® Fund which will replenish the Emergency Relief Fund as noted. Members that wish to donate directly to the Emergency Relief Fund can do so by contributing to the REALTOR® Fund but designating the donation to the "Emergency Relief Fund."
To donate online to either fund, click here.