One of the first things AV and I did when we decided to launch our own entrepreneurial venture, HausAngeles, was ‘integrate’ our professional and community activities and goals into our business model (and therefore, day to day activities). This included a commitment to re-invest 10 to 20 percent of all real estate transaction revenues – i.e. revenues from our core business – back into our Community. Please find below the text from a HausAngeles news release describing how we are working to make our commitment real. ray
Real Estate Company Creates “Opportunity for All” Scholarship Program for Public Housing Residents
HausAngeles to Donate 10% to 20% of Commissions Via Housing Authority of L.A.
Ray Mathoda with Rudolph Montiel, HACLA’s CEO and President with a copy of the first “Opportunity for All” check in the amount of $3641
HausAngeles, a Los Angeles, California-based real estate consulting and transaction services provider, today announced its creation of a scholarship program – entitled “Opportunity for All” — for residents of Los Angeles public housing. The program will be funded by the donation of 10 to 20 percent of HausAngeles’ real estate commissions and will be administered by HACLA (the Housing Authority of the City of Los Angeles), which owns or administers approximately 50,000 units of Section 8 and Public Housing for the City of Los Angeles.
Rayman Mathoda, founder and CEO of HausAngeles and also a HACLA commissioner, said “After spending one-on-one time talking to both children and adults who live in public housing because of my role with HACLA, I realized that many of these residents – who live right in our ‘back yard’ – have access to very little opportunity in comparison to other L.A. residents. Since we conceived of HausAngeles as a socially conscious company, we decided that donating a percentage of our commissions in a manner that would create tangible impact in our own community would be a great way to give back.”
Adds Mathoda: “Real estate commissions grow proportional to the transaction size, so we have decided to donate 10% of our commission for transactions under $1 million, 15% for transactions between $1 and $2 million, and 20% for transactions above $2 million. We are hoping this program will appeal to buyers and sellers who will view this as a way of creating a real opportunity for those in need, without having to reach into their own pockets to do it.”
Any individual, family, or organization that sells or purchases property in Los Angeles can opt into the program. When the transaction closes, HausAngeles donates a portion of its commission towards the creation of the scholarships, the first round of which will be given in early 2010. Scholarships will be awarded after the completion of a competitive application and review and selection process, which will be jointly conducted by HausAngeles and HACLA. Any resident – child, youth or adult – of a City of Los Angeles public housing development managed by HACLA is eligible to apply.
“We are extremely pleased that HausAngeles is helping fill a considerable gap in available scholarships for residents of affordable housing in Los Angeles,” said Rudolf C. Montiel, President and CEO of HACLA. “While HACLA has provided scholarships to residents for the last twelve years, and assisted in providing youth programs through its non-profit, Kid’s Progress Inc., our ability to adequately support these valuable programs has been severely limited in the last two to three years due to lack of funding. HausAngeles’ efforts to make a difference in our residents’ lives via the Opportunity for All program could not be more timely or welcome.”
