Foundation Facts VICTORIA REAL ESTATE BOARD EDITION - JANUARY 2013

Our mission: To transform land use attitudes and practices through innovation, stewardship, and learning.

As part of our 2012 Island road Connect with us trip, Foundation and VREB personnel met in See what we’re up to, or connect online, by phone, or in September for mutual person when we visit your board on one of our road trips. The updates. Pictured L-R: social media links are also on our website. Dave Corey, VREB; Celina Owen, REFBC; Website: refbc.com Jim Bennett, VREB; Scott Twitter: @RealEstateFdn Ullrich, REFBC; Jack Wong REFBC; Maggie Kerr- Facebook: www.facebook.com/RealEstateFdnBC OR search Southin, VREB. ‘Real Estate Foundation of ’ in FB Read the blog of our trip to the Island: refbc.com/ YouTube: RealEstateFdnBC vancouver-island-ref- LinkedIn: Real Estate Foundation of BC group road-show eNews: Sent monthly - sign up via [email protected] Money talk • In 2012 the Real Estate Foundation’s gives it back to the community for Board of Governors approved 67 non-profit real estate and land use Year Trust Grants grants totaling $2.34 million. initiatives. Variations in trust account Income • In our 24 years of grant making, balances and interest rates affect the 2005 $2.79M $2.96M Foundation governors have approved size of our grants program. There has 2006 $6.75M $5.10M been much variation over the past 1722 grants totaling $62.7 million 2007 $8.60M $6.44M throughout BC. few years. (See table at right.) 2008 $4.28M $6.12M • Another factor that affects our • The Foundation’s 2013 grants 2009 $838.75K $1.49M budget is $2.5 million. Of that, up to income is that different banks and $375,000 (15%) has been allocated credit unions give the Foundation 2010 $1.25M $1.77M for real estate industry grants. different rates of return on trust 2011 $1.94M $2.77M account balances. In 2012 the top five The 2013 industry grants will be 2012 $1.77M $2.34M announced in mid-April. Contact remitting institutions, by dollar value, your board’s executive officer for the were: funding criteria and other details. 1. HSBC Bank Canada • Our board’s prudent investment of Foundation income allows the • The Real Estate Foundation is 2. Royal Foundation to continue making governed by the Real Estate Services 3. Credit Union grants even when revenues dip, as Act. Per the Act, the Foundation has 4. Bank of they did in 2009. a stream of income from the interest 5. on pooled BC real estate brokerage For us, a 0.25% change in the prime • Please feel free to contact us trust accounts. The Foundation rate translates to a change of about directly if you have questions. receives this income, invests it, and $20,000 a month in income. 604.688.6800 | 1.866.912.6800

The Real Estate Foundation of British Columbia was created in 1985 through the initiative of the BC real estate industry. By law, the Foundation receives interest income from deposits made by real estate buyers into brokerage trust accounts and uses the proceeds to support real estate related research, education, law reform, and other projects intended for the public and professional good. It has approved over $62 million in grants for non-profit projects throughout British Columbia. Grants around the province Comparison of 2012 grants and trust account income by real estate board area

Powell River Sunshine Coast

Chilliwack

Fraser Valley

Kamloops

ABOUT THE CHART: Kootenay Trust account income This chart compares Grants South Okanagan the level of trust account income Okanagan Mainline generated in each BC real estate board/ association area BC Northern (orange - top bar) with grants approved Vancouver Island to organizations in respective board areas Victoria (blue - bottom bar).

Greater Vancouver Many grants have impact outside the

$0 board area—even multi-region or BC-wide $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 $1,800,000 benefits.

Board of Governors Grants in your area In 2012 Victoria Real Estate Board members generated $82,534 in trust account Kelly Lerigny - Chair revenue for the Foundation. This is 4.6% of the $1.77 million received via financial BC Real Estate Association appointee since 2010 institutions across the province. There were ten grants totalling $190,026 awarded to organizations in the VREB area in 2012. That is 8.1% of all 2012 grants. A few of the Eileen Smith - Vice-Chair VREB area grants were: Real Estate Council of BC appointee since 2008 • Community Social Planning Council of Greater Victoria - $40,000 for research Harpreet Bhatti on community investment mechanisms and models that will support affordable BC Minister of Finance appointee since 2011 housing development. Charles Scott • Fernwood Neighbourhood Resource Group - $14,000 to create a land inventory BC Minister of Finance appointee since 2011 that will identify, assess, and categorize vacant or unused lots that have potential Scott Ullrich for urban agriculture; and to create a comprehensive food security plan. Real Estate Institute of BC appointee since • Ready to Rent BC Association - $15,000 to expand and improve its housing 2012 education program for tenants, which uses a mentoring model to help low The Foundation will elect a new Chair and income and vulnerable people attain and maintain housing. Vice-Chair at its spring 2013 annual meeting. • Sierra Club of BC Foundation - $15,000 to support delivery of the Sustainable Governors are appointed for three-year terms High Schools program, which facilitates youth-led, school, and community based and may serve up to six years in a row. sustainability education, assessment, and action projects. Contact individual board members via email Our Google grants maps are an easy to navigate source of information about where at [email protected]. the Foundation has been approving grants since 2006 (refbc.com/grants/grants_ approved/maps). Jack Wong – CEO If your real estate board, or another non-profit organization you know, has an idea for 604.688.6800 ext 104 a real estate or land use related project that would benefit your community or region, [email protected] please read the Foundation’s funding criteria at refbc.com/grants.

570 - 355 Burrard Street, Vancouver BC V6C 2G8 | 604.688.6800 | toll free 1.866.912.6800 | fax 604.688.3669 | www.refbc.com