CHARLOTTESVILLE AREA ASSOCIATION OF

THE FOUNDATION, AS CAARS PHILANTHROPIC INITIATIVE, IS INTENDED TO BE AN EFFECTIVE MECHANISM FOR REALTORS TO DONATE THEIR TIME, TALENT, AND RESOURCES TO IMPACT, SUSTAIN AND SUPPORT COMMUNITY INITIATIVES. THE PURPOSES OF THE FOUNDATION SHALL BE EXCLUSIVELY CHARITABLE AND EDUCATIONAL, FOR EXEMPT PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, INCLUDING THE FOLLOWING PURPOSES: 1. TO LEVERAGE THE PHILANTHROPIC PASSION, KNOWLEDGE, AND SKILLS OF CAARS MEMBERSHIP AND AFFILIATES 2. TO PROVIDE VOLUNTEER OPPORTUNITIES 3. TO CREATE OPPORTUNITIES FOR CAAR MEMBERS TO LEVERAGE THEIR COMBINED GIVING POWER AND REALIZE A TAX BENEFIT, WHERE APPLICABLE 4. TO ENSURE ACCOUNTABILITY AND IMPACT OF DONATIONS THROUGH REPORTING METRICS 5. TO SEEK CONTRIBUTIONS IN FURTHERANCE OF THE FOUNDATIONS STRATEGIC COMMUNITY INITIATIVES AND PURPOSES FROM ANY SOURCE, BUT PRIMARILY FROM THE MEMBERSHIP OF THE CAAR AND OTHER INTERESTED INDIVIDUALS AND CORPORATIONS. 6. TO MANAGE