Foundation Update

THE NEXT 30 YEARS OF IMPACT STARTS NOW

When the CAR Foundation was founded in 1991, as the Colorado Association of REALTORS® Housing Opportunity Foundation (“CARHOF”), the average monthly rent in the U.S. was $495, and the average cost for a new home in Colorado was around $82,500. A gallon of gas cost $1.12, the U.S. Military launched Operation Desert Storm, Dances With Wolves won the Oscar for Best Picture, and the World Wide Web went live for the very first time.

Romi and Tripp playing outside of their new home.

A lot can change in 30 years (although ‘90’s fashion seems to be back!). The median cost of a home in Colorado has increased by more than 394% since 1991. One constant has been the CAR Foundation’s work to help Coloradans find safe and attainable housing, achieve homeownership, and recover from natural disasters. In fact, CARHOF, the CAR Education Foundation, and now the CAR Foundation have helped more than 87,643 Coloradans in 30 years, by investing $8,735,426 in Colorado communities through grants. (Learn more in the CAR Foundation’s 30 Year Impact Report.)

CAR Foundation grants have helped Coloradans like Cat, Eddie, and their two boys, Romi and Tripp, who were accepted into the Mile High United Way’s Personal Investment Enterprise program, which is funded by the CAR Foundation. In the program, they learned how to budget, save, and qualify for a mortgage. And after three years of saving, they were able to purchase their own home. The stable footing that owning their own home provides will bring generational change within their family. “We’re extremely grateful for all the help that we had throughout the process,” Eddie said. “We want to pass [the house] on to [the boys] and let them have a home without worrying, and it’s just really cool to get to do that.”

Colorado REALTORS®, the CAR Foundation is YOUR charitable arm of CAR, and grants to programs helping Coloradans get a safe and stable roof over their heads are ultimately made possible only with YOUR support. The next 30 years of CAR Foundation impact starts NOW, and we need your help. With prices of homes and rent skyrocketing and inventory at historic lows, finding secure housing in Colorado has reached crisis point for many people.

We know that communities across the state are struggling and need our support. Many Coloradans lack access to emergency housing or long-term housing that they can afford, or they need education about how to best prepare for homeownership. Wildfires and other potential disasters can occur without warning, and the CAR Foundation is committed to aiding our neighbors statewide when that happens. With your help, the CAR Foundation can continue to support Coloradans when they need it most.

HOW CAN YOU GET INVOLVED?

• Ensure your brokerage is enrolled in our Escrow Interest Program, where interest earned on escrow funds is donated to the CAR Foundation. It’s easy and a great way for your clients to join the mission as well. Contribute to our Next 30 Years Starts Now fundraising campaign. Members who donate $100 or more will receive a digital badge to make marketing your impact easy as well as our iconic Heart Pin.

• Consider joining our Board of Directors or our upcoming Advisory Group! Keep an eye out for application information, and if you are interested in volunteering your time to lead the Foundation, we’d love to hear from you.

• Join us at our Fall Forum Boots & BBQ fundraising event for an evening of fun, camaraderie, and inspiration. Can’t attend in person? Stay tuned for the virtual silent auction!

The CAR Foundation is honored to continue to make a difference for communities across Colorado. We invite you to join the mission and help us support Coloradans for generations to come!