Which statement BEST describes The Appraisal Foundation?

The Appraisal Foundation is best described as a non-profit organization established for educational and scientific purposes. This foundation is dedicated to the advancement of the valuation profession and seeks to promote professionalism and competence among appraisers. It develops standards and guidelines that are essential for the practice of appraisal, such as the Uniform Standards of Professional Appraisal Practice (USPAP), which provide the framework for ethical conduct and competency among appraisers.

This emphasis on education and setting professional standards highlights the foundation's role in enhancing the overall quality of the appraisal profession, rather than focusing on specific transactions, licensing oversight, or direct service provision. The other statements refer to functions or aspects that do not encapsulate the primary mission and structure of The Appraisal Foundation.