For some companies, raising money for scholarships, a day-care facility or to donate to a charitable organization is a difficult proposition.
Along comes a new company, Axsys Resources, 5296 S. Commerce St., Murray, that can make raising money for those types of uses a reality, and it doesn't cost the company a dime.Eric S. Gorrell, Axsys president, said he has been told by companies before they become involved in Axsys' Real Estate Affinity Program that creation of a fund from which scholarships are granted or donations made to charitable groups is too good to be true.
But even though Axsys has been established for only a few months, several clients, including Times Mirror, Allen Communications, Columbia Health Care, Boys and Girls Clubs of Salt Lake City, Unibase, Utah Valley State College, Merit Medical, KUED and C.R. England, already have established such funds.
Axsys has teamed with Wardley Better Homes and Gardens, West Star Financial and the law firm of Pettey, Brantley & Robinson to bring this new fund-raising concept to life. Here is how it works.
The top producers at Wardley have agreed to donate part of their commissions when people in companies involved in the Real Estate Affinity Program sell their homes or purchase new ones. The law firm establishes a fund within the company and serves as a trustor for the fund.
A committee within the participating company decides where the fund money will be spent, whether it's for scholarships, a day-care facility at the company or the American Cancer Society or other charitable group, Gorrell said.
Axsys, which is paid by the sponsors, administers the REAP program, runs the Web site, recruits companies for the program and keeps its member companies happy, he said.
Gorrell said an average real estate agent spends 40 percent of his income to sell a house, so if he spends less through the Axsys program he is saving money and giving something back to the community at the same time.
Once a company becomes affiliated with REAP, the company allows Axsys to promote REAP to the employees and executives under terms agreed to by both sides.
Also, the company agrees to allow Axsys to hold "lunch and learn" sessions at the company that last only 45 minutes with the food paid for by Axsys.
Employees in companies signing with REAP can use a hotline to the law firm and get answers to real-estate related legal questions free with a 48-hour turnaround, Gorrell said. Or the people can access the information through www.axsysreap.com.
A third benefit of being a REAP company, Gorrell said, is the receipt of a quarterly newsletter, which has articles on endowment fund growth totals, current and pressing real estate issues and seminar schedules. In addition, a section is devoted to frequently asked questions.