We are proud of our "100% of Profits to Charity" commitment and want to be clear about our pledge. "100% of Profits to Charity" means that we contribute all available profits from our title agency and home insurance businesses, after accounting for normal business expenses, taxes, reserves, and expenses in furtherance of our charitable mission. Like all businesses, we have typical costs associated with the effective operation of our business, including things like employee compensation and benefits, travel, marketing, supplies, facility and shared services costs, taxes and business expenses involved in the search, examination and issuance of title insurance policies. Plus, we're required to maintain reasonable working capital and reserves for accrued and contingent liabilities.
It's important for you to know we're not a tax-exempt organization under section 501(c)(3) of the Internal Revenue Code. In the charity world, Charity Title and Charity Home Insurance are what is classified as a "feeder organizations" because we're committed to giving all our profits to charity. Tax-exempt status is reserved for qualifying nonprofit organizations that are setup exclusively for charitable purposes and are recognized as such by the Internal Revenue Service. We intentionally decided to be for-profit businesses that distribute our profits to Beazer Charity Foundation or other tax exempt organizations.
Beazer Charity Foundation is a non-profit, tax-exempt section 501(c)(3) organization, classified as a private foundation for U.S. federal tax purposes. Beazer Charity Foundation distributes the contributions it receives from Charity Title and Charity Home Insurance to other established section 501(c)(3) charitable organizations that have been vetted by Charity Title, Charity Home Insurance, Beazer Charity Foundation, or affiliates.
Beazer Charity Foundation is governed by a Board of Directors, which is obligated to use Beazer Charity Foundation's resources solely to advance its charitable purposes. Beazer Charity Foundation makes grants to section 501(c)(3) charitable organizations, pays the expenses incurred with respect to carrying out its charitable activities, and sets aside reserves to carry out future charitable activity and cover contingencies, for example, to pay future pledges to charitable organizations, maintain funding capability to respond rapidly to emergencies such as natural disasters and cover unanticipated expenditures. In all cases, reserve funds can only be used in furtherance of Beazer Charity Foundation's charitable purposes.
$2.5 M
in Net Profits given to charity
Wholly owned by Beazer Homes, Beazer Charity Group is on a mission to make a positive impact in the communities where our customers and employees live and work. Charity Title Agency and Charity Home Insurance Agency donate 100% of their net profits to the Beazer Charity Foundation, our company’s philanthropic arm, which supports nonprofits working in communities to build a brighter future.
$1.1 M
2023 giving to the Fisher House Foundation from the Beazer Charity Foundation, employees and partners.
As members of a team working to build homes for our customers, we find fulfillment in supporting the work of nonprofit organizations providing homes for those in need. The Fisher House Foundation provides a home away from home to U.S. service members, veterans and military families. Offered at no cost, these comfort homes enable families to be together as loved ones receive treatment at military and VA medical centers around the world.
Lending a helping hand in our communities is not only meaningful but crucial. In Dallas and Atlanta, Beazer teams support two special spaces and provide a sense of safety and belonging for local children, including some of the most vulnerable.