Appraisal Institute Contributes to Tsunami Relief in Support of its Japanese Members
March 27, 2011 08:00 AM
CHICAGO (March 28, 2011) – Responding to the recent loss of life and property destruction in Japan, the United States’ largest professional association of real estate appraisers today announced it has made a charitable contribution to the American Red Cross’ relief efforts.
The Appraisal Institute has 53 members in Japan. The organization includes more than 24,000 members in nearly 60 countries around the world.
"As the Japanese people continue to display uncommon strength and courage in recovering from this tragedy, the Appraisal Institute wanted in some small way to assist its members and others in Japan," said Appraisal Institute President Joseph C. Magdziarz, MAI, SRA. "Our thoughts and prayers remain with those who are enduring the aftermath of this calamity."
Japan was hit by an 8.9-magnitude earthquake on March 11 that caused a tsunami, resulting in more than 10,000 confirmed deaths so far with nearly 18,000 more still missing and nearly half a million left homeless. With an expected $309 billion in property damage, the disaster is the costliest in Japan’s history.
The American Red Cross, founded in 1881, is the United States’ premier emergency response organization. Each year victims of some 70,000 disasters turn to the more than half a million volunteers and 35,000 employees of the Red Cross. An average of 91 cents of every dollar the Red Cross spends is invested in humanitarian services and programs.
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The Appraisal Institute is a global membership association of professional real estate appraisers, with more than 24,000 members in nearly 60 counties throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide. Organized in 1932, the Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws. Members of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA and SRA designations. Learn more at www.appraisalinstitute.org.