Care2 and HomeGift Enable Home Buyers and Sellers to Save Money and Support Charities.New Program Taps into $61 Billion in Annual U.S. Real-Estate Commissions and Redirects a Portion to Charity BOSTON & REDWOOD CITY Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif. -- Online social network Care2 and HomeGift Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Inc. announced they are rolling out a new program this month that enables home buyers and sellers in 41 states to get cash rebates on real estate commissions and support their favorite cause or charity. The innovative program is the result of a partnership between Care2, the largest social network of civically active people, and HomeGift Realty, a Massachusetts-based real estate company that connects real estate agents with millions of nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. supporters. Under Care2's HomeCash for Charity program, Care2 members can get a large rebate rebate, partial refund of the total price paid for goods or services. In the United States, rebates were historically given by railroads to favored shippers as a return on transportation charges. check on real estate commissions after closing on a home purchase or sale. Participants can choose how much of the rebate -- typically worth thousands -- to pass on to their favorite charity. "Our new program provides a powerful opportunity for social change," said Care2 Founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Randy Paynter. "With HomeCash for Charity, Care2's millions of members can receive thousands of dollars easily, just for doing something that they're already doing now - buying and selling houses. Best of all, they can make a big difference by donating all or part of this windfall windfall An unexpected profit or gain. An investor holding a stock that increases greatly in price because of an unexpected takeover offer receives a windfall. to the charity of their choice. Care2 is proud to be the first online social network to introduce this major new benefit for our members and nonprofit organizations Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. ." Under the program, anyone interested in buying or selling a home can sign up through Care2's Web site (http://homecash.care2.com) to find a participating real estate agent or select an agent of their choice. After the sale closes, participants will automatically get a cash rebate on real estate commissions, paid in the form of a check. For a person living in Virginia Virginia, state, United States Virginia, state of the south-central United States. It is bordered by the Atlantic Ocean (E), North Carolina and Tennessee (S), Kentucky and West Virginia (W), and Maryland and the District of Columbia (N and NE). , for example, selling or buying a $300,000 home would mean a rebate check of $1,300 or more. The higher the value of the homes being bought or sold, the higher the cash rebate. Participants in Care2's program decide how much of the rebate money to keep and how much to give as a tax-deductible Tax-deductible The effect of creating a tax deduction, such as charitable contributions and mortgage interest. donation to charity. Care2 encourages donations to any of the more than 250 listed nonprofits that already are working with Care2 to boost public awareness of their causes. But people also can write in their own favorite charity if it is not already listed. HomeGift has recently rolled out similar programs with Habitat for Humanity Habitat for Humanity, nonprofit ecumenical Christian organization that enables low-income people to own affordable, livable housing. Headquartered in Americus, Ga., it was founded in 1976 by businessman Millard Fuller and his wife. , several public broadcasting public broadcasting: see broadcasting. stations--including Boston's WGBH -- and other charitable and cause-related organizations - furthering the company's achievement of its goal to help nonprofits take a piece of the $61 billion consumers spend annually on real estate commissions. HomeGift's programs blend what real estate agents want most -- more business -- with what nonprofits are always looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. -- a new way to raise funds. In essence, nonprofit supporters get a volume discount on real estate commissions in the form of a cash rebate after closing. Participants can choose any agent, provided they sign up before hiring their agent. Under the program, agents pay a "referral fee" from their commissions for being introduced to millions of home buyers or sellers. HomeGift passes on 70 percent of that fee back to the buyer or seller as a rebate and retains 30 percent. While paying referral fees is a standard real estate industry practice, most real estate companies simply pocket the fee. What makes HomeGift unique is that it is giving most of its fee away. "This is about giving back. But for agents, it is also about getting more business. That's why thousands of agents from many of the top firms across the country have signed on with us," said Mark Sennott, HomeGift president and CEO. "Now, by forming a partnership with Care2, we're tapping into a massive community of people highly motivated mo·ti·vate tr.v. mo·ti·vat·ed, mo·ti·vat·ing, mo·ti·vates To provide with an incentive; move to action; impel. mo to give back so that nonprofits can also benefit." For more information about HomeCash for Charity, please visit http://homecash.care2.com. About HomeGift Realty, Inc. HomeGift Realty, Inc., incorporated in 2005, is a licensed real estate company located in Sherborn, Mass. HomeGift works with real estate agents and nonprofits around the country to help turn the real estate transaction into an opportunity for saving money and charitable giving. By co-branding the programs with nonprofits, HomeGift arranges for nonprofit supporters to get substantial cash rebates on real estate commissions, so that some or all of the rebate can be shared with the nonprofit. HomeGift has developed programs for Habitat for Humanity, several PBS PBS in full Public Broadcasting Service Private, nonprofit U.S. corporation of public television stations. PBS provides its member stations, which are supported by public funds and private contributions rather than by commercials, with educational, cultural, stations and many other nonprofits and cause-related organizations. For more information about HomeGift and its affiliated programs, visit www.homegift.com About Care2 With more than 6 million members and 250 nonprofit partners, Care2 is the largest online social network of people interested in living a conscious and responsible lifestyle. Care2 members discover, share and take action each day on the causes and subjects that are shaping our world - environmental conservation, human rights, green living and more. Care2 provides information and services to help people make a difference including the most tips for living a greener life, the most popular online petition service to support nonprofit initiatives, and a forum for people with shared values to connect with one another. Care2 reaches the global community, but is headquartered in Redwood City, Calif. To learn more about how you can make a difference, visit www.care2.com. |
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