The exclusive public purposes for which AIERF is organized are charitable, literary, educational and scientific within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”). In furtherance of those purposes AIERF shall:
- Receive, administer and disburse funds for the purpose of improving, advancing, researching and teaching the techniques of real estate appraisal, with benefits to be made available to the interested public;
- Provide emergency financial assistance (i) to Designated Members, Candidates, Practicing Affiliates, Affiliates, employees (and their dependents) of the Appraisal Institute, an Illinois not for profit corporation organized under the Code, and (ii) to individuals who have made meaningful contributions to the real estate profession (collectively, “Recipients”), who have experienced a disaster or emergency that has left the Recipients in a state of financial, physical, or emotional distress;
- Provide scholarships and grants to qualified persons for education in or work in the field of real estate appraisal;
- Promote and conduct research and study into all aspects of real estate appraisal, with findings and conclusions to be made available to the interested public;
- Foster the establishment of educational standards for real estate appraisals;
- Maintain a library and encourage and cause the writing and publication of treatises, books and pamphlets relating to real estate appraisal, which are to be made available to the interested public;
- Encourage and interest educational and other organizations in improving, advancing and teaching real estate appraisal.