Relief fund helped thousands with damaged primary residences $2.4 million raised by REALTORS® across the country

To date, the Mississippi REALTOR^® Hurricane Relief Fund has helped more than 3,000 Mississippians who sustained significant damage to their primary residences as a result of Hurricane Katrina in 2005 with more than $2.4 million provided through generous contributions from the National Association of REALTORS^®, state and local REALTOR^® organizations around the country and REALTORS^® in Mississippi.

"Many of our applicants were REALTORS^® and even more were their neighbors, relatives, friends, colleagues, customer and clients, who were referred by REALTORS^®" according to Russell Wilcox, Chair of the Mississippi REALTOR^® Hurricane Relief Fund. "Our efforts were not only tangible, but the good will this effort has generated will do much to strengthen the REALTOR^® image in the minds of many Mississippians."

Wilcox went on to add: "I'd like to commend our fund board of directors for their dedication, time commitment and integrity throughout this process. We continue to receive thank you letters, cards and phone calls from fund recipients who are either grateful to be a REALTOR^® or grateful to REALTORS^® for the assistance."

Many fund recipients stated that while they were still waiting to hear from FEMA, the Red Cross or their insurance adjusters, they heard quickly from the REALTOR^® organization.

REALTOR^® Keiko Palmero, Keiko Palmero & Associations, Gulfport, was one such recipient. Palmero has only the slab left where her home stood, and as she began trying to put order back into her life, she was feeling overwhelmed by the destruction of what appeared to be a war zone. With only the clothes on her back, she was out of cash and there were no banks open, so she was in need of a lift.

"Within a couple of weeks, I received a check from the Hurricane Relief Fund - long before FEMA provided any assistance," Palmero said. "The check assured me that we were not forgotten by our peers and by people we would never know."

It was an integral part of the fund's mission, according to Wilcox, to help as many families as possible and to get the funds distributed quickly and without a lot of red tape. "Unfortunately, we ran out of funds long before we ran out of applications," he said.

More than 15,000 applications were received and processed at the Mississippi Association of REALTORS^® office. All applications were reviewed anonymously, and in the order in which they were received and decisions were based solely on information provided on the application form. Funds were distributed in amounts ranging from $0 to a maximum of $2,500 per household.

"The intent of the relief fund was to help homeowners, not just REALTORS^®, who sustained significant damage to their primary residences, not rental properties, offices or businesses," said 2005 MAR President Nancy Lane, CCIM. "Knowing that we would never have enough funds to help everyone, we had to make some choices and place limits on what would be provided for what types of damages. Because of this, we followed the format established by NAR for its relief fund, as did Alabama and Louisiana, and relied upon our attorneys for their recommendations to be sure that the IRS requirements for 501(c)3 organizations were met and all funds donated could be tax deductible."

Like Palmero, REALTOR^® Stephanie McConnell, Latter & Blum, Bay St. Louis, was left with nothing but a concrete slab and had this to say about the relief fund check she received: "We are so fortunate to have received a generous gift from the REALTOR^® Hurricane Relief Fund which arrived just as we were considering how and if we were going to be able to purchase our new 'home' on wheels. How can I ever say thank you enough."

About the Mississippi REALTOR® Hurricane Relief Fund

Relief fund helped thousands with damaged primary residences $2.4 million raised by REALTORS® across the country
Rebuilding efforts on coast get boost through REALTOR® relief funds
Relief fund recipients say thanks
Thank you, REALTORS®