| REALTOR®
Action Fund: Explanation and Legal Notice
REALTORS® and REALTOR Associates® may participate
in REALTOR® Action Fund by including a voluntary donation on
the same check as your dues payment. One hundred and ninety-seven
dollars ($197) is the suggested voluntary contribution. However,
donations are not limited to the suggested amount. No contributor
will be favored or disfavored by reason of the amount of his/her
contribution or his/her decision not to contribute. Failure to contribute
will not affect an individual’s membership status in C.A.R.
POLITICAL CONTRIBUTIONS (including REALTOR® Action Fund contributions)
are not deductible as charitable contributions for income tax purposes.
Your REALTOR® Action Fund donation will be allocated among three
political action committees connected with the CALIFORNIA ASSOCIATION
OF REALTORS®. These are:
CREPAC/BORPAC: Supports candidates for public office at the state
and local levels
CREPAC/Federal: Supports candidates
for the U.S. Senate and House of Representatives
CREIEC: Makes independent expenditures
in support of or opposition to candidates at the state and local
levels.
IMPAC supports local and state ballot measures and other issues
that impact real property in California. State IMPAC and local IMPAC
are funded by your dues dollars.
Your contribution will be allocated among C.A.R.’s political
action committees according to a formula approved by the C.A.R.
Board of Directors as explained below, depending on whether it is
a personal or a corporate contribution. The allocation formula is
subject to change including redesignating a portion to IMPAC.”
If you are a major donor and need specific information regarding
your contributions, please contact the CALIFORNIA ASSOCIATION OF
REALTORS®, Controller’s Office at (213) 739-8252. Contributions
in excess of the contribution limits will be reallocated to another
PAC connected with the CALIFORNIA ASSOCIATION OF REALTORS® or
refunded to the contributor. Under the Federal Election Campaign
Act, an individual may contribute up to $5,000 in a calendar year
to CREPAC/Federal.
CORPORATE CONTRIBUTIONS are currently legal and acceptable under
California law. Corporate contributions cannot be used in federal
elections and will be deposited in CREPAC/BORPAC, and/or CREIEC.
A corporate contribution includes any contribution drawn from a
corporate account. Therefore, up to the first $98, corporate contributions
are expected to be allocated 80% to CREPAC/BORPAC (40% of which
is allocated for local races) and 20% to CREIEC. Any additional
amount will be allocated 100% to CREIEC.”
PERSONAL CONTRIBUTIONS may be used
for both state and federal elections and therefore may be deposited
in CREPAC/Federal in addition to all other C.A.R. political action
committees. Up to the first $98, personal contributions are expected
to be allocated 75% to CREPAC/BORPAC (40% of which is allocated
for local races) and 25% to CREIEC. Any additional amount will be
allocated to CREPAC/Federal (up to the maximum amount allowed).”
REALTORS® and REALTOR Associates® may make a voluntary,
tax-deductible, charitable contribution to the C.A.R. Housing Affordability
Fund (HAF) on the same check as your dues payment. The HAF is a
charitable nonprofit organization, whose purpose is to address the
statewide housing crisis directly. It receives contributions from
REALTORS® and other individuals as well as businesses and other
organizations, and distributes funds through Local Associations
of REALTORS® toward programs that increase homeownership and
the supply of housing across the state.
HAF is exempt under Section 501(c)(3) of the IRS Code. Contributions
as an individual/business are tax-deductible to the extent provided
by law.
Individual contributions are designated by 'Keys to California’
Pins: Bronze ($100), Silver ($500), and Gold ($1,000 with an option
to renew annually for $300), and Founder’s Circle ($1,500)
with an option to renew annually for $500. For information about
HAF, including major non-cash gifts or corporate sponsorships, visit
www.carhaf.org or contact the HAF at 213-739-8352.
Dues payments & assessments (Local Association, C.A.R. and N.A.R)
and contributions to "REALTOR® Action Fund" (Political
Action Committees) are not tax deductible as charitable contributions
at the Federal level.
Contributions to the C.A.R. Housing Affordability Fund are charitable
and tax deductible under both Federal and State.
Payments, excluding the portion of dues used for lobbying activities
and REALTOR® Action Fund, may be deductible as ordinary and
necessary business expenses. Please consult your tax professional.
2010 ESTIMATED PORTION OF YOUR DUES USED FOR LOBBYING THAT ARE NON-DEDUCTIBLE:
N.A.R. 33.00% $26.00
C.A.R. 22.10% $29.84
Total Non-Deductible Dues Portion $55.84
ARBITRATION:
I agree that all arbitrations pursuant
to the California Code of Ethics and Arbitration Manual shall be
governed by Section 50 (b) of the Manual (available on www.car.org).
Additionally, for C.A.R. to maintain its periodicals mailing permit,
your dues billing statement must include the following wording:
YOUR SUBSCRIPTION TO CALIFORNIA REAL ESTATE MAGAZINE IS PAID FOR
WITH YOUR DUES AT A RATE OF $6.00 AND IS NON-DEDUCTIBLE THEREFROM |
