About Land Education Foundation

“To support and build educational programs and
services that contribute to the wise utilization of land”

The Foundation contributes to educational programs for the REALTORS® Land Institute, funds scholarships, and contributes to the activities and educational conferences promoting land and the ‘wise utilization thereof’.

The Land Education Foundation (LEF)was established in 1982, originally chartered as the Farm and Land Foundation, a not-for-profit organization, exclusively for land educational purposes.

Articles of Incorporation & Purpose of the Corporation Organization

The Farm and Land Foundation is created and organized and shall be operated
exclusively to receive funds and other property, whether real, personal, tangible or intangible, by bequest, devise, memorial donation, endowment type or other grant,
gift, purchase, lease or otherwise, and to administer such funds and other property for charitable, literary, or educational purposes (not including the operation of a full secondary educational institution or vocational school) within the meaning of Section 501(c)(3) of the United States Internal Revenue Code of 1954, as amended or as may hereafter be amended, of particular interest to the real estate industry and profession, including but not limited to the making of distributions to other organizations that qualify as exempt organizations under Section 501(c)(3) of the Internal Revenue Code of 1954, as amended or as may hereafter be amended.

  • The Foundation shall operate as a tax-exempt organization under Section 501(c)(3)
    of the Internal Revenue Code of 1954, as amended or as may hereafter be amended, contributions to which shall be deductible under Section 170 of the Internal Revenue Code of 1954, as amended or as may hereafter be amended.
  • No part of the net earnings of the Foundation shall inure to the benefit of, or be distributable to, its members, officers, directors, or any private individual except that the Foundation shall be authorized and empowered to pay reasonable compensation for services rendered to make payments and distributions in furtherance of the purpose set forth above.
  • No substantial part of the activities of the Foundation shall be the carrying on or propaganda, or otherwise attempting to influence legislation, and the Foundation shall not participate in, or intervene in ( including the publishing or distribution of statements) any political campaign on behalf of any candidates for public office.
  • Notwithstanding any other provision of these articles, the Foundation shall not carry on any other activities not permitted to be carried on (a) by a corporation exempt from Federal income tax under Section 501(c)(3)of the Internal Revenue Code of 1954, as amended or as may hereafter be amended, or (b) by a corporation, contributions to which are deductible under Section 170 of the Internal Revenue Code of 1954, as amended or as may hereafter be amended.

In the event of dissolution of the Foundation, the Board of Trustees shall, after paying or making provision for the payment of all liabilities of the Foundation, dispose of all assets of the Foundation exclusively for the aforesaid purpose of the Foundation in such manner, or to such organizations organized and operated exclusively for charitable,
educational, religious, or scientific purposes as shall at the time qualify as exempt organizations under Section 501(c)(3)of the Internal Revenue Code of 1954, as amended or as may hereafter be amended, as the Board of Trustees shall determine. Any such assets not so disposed of shall be disposed of by an appropriate court in the county in which the principal office of the Foundation is then located, exclusively for such purposes or to such organizations as said court shall determine, which are organized and operated exclusively for the aforesaid purposes.