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2021 Overview & Annual Luncheon Recap!
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 Dear Friends Of Bay Scholars,
As we look forward to 2022, we at Bay Scholars are filled with gratitude for our supporters who gave so generously to our mission in 2020-2021. At a time when the schools and students in our Bay Area network needed it most, our benefactors and investors gave at record-high levels.
Your support makes it possible for Bay Scholars to award 500 students $1,500,000 in scholarships to the thirteen college-preparatory schools in our Bay Area network!!!
The students supported by Bay Scholars continue to receive the high-quality academic and personal support of our partner schools. The digital divide was narrowed, classes were convened, attendance taken, teaching and learning continued, and student progress was monitored. These schools also did a remarkable job supporting students' social and emotional wellness. Watch the video from our most recent luncheon from Friday, November 19, 2021 below for an example of this in action.
During 2021-2022, Bay Scholars is working hard to raise $1,700,000, which will allow us to support even more students in 2022-2023. At the midpoint of our fiscal year, we are proud to report that we have raised 59% of this goal--$1,000,000! With your support, and those in your networks to whom you mention Bay Scholars, we can reach this goal.
Thank you for supporting the students of Bay Scholars!
Caitlin Curran Kavanagh, Executive Director |
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8th Annual Giving Thanks by Giving Back Luncheon
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Like the schools we support, Bay Scholars embraced a return to "live instruction" as we gathered in the Julia Morgan Ballroom for our 8th Annual Giving Thanks by Giving Back luncheon. It was a wonderful opportunity to tell our students' stories and celebrate the great work our partner schools are doing.
If you were not able to join us, we invite you to sit down with a warm cup of tea or coffee, click on the video below, and prepare to be uplifted and inspired.
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Tax Benefits from Charitable Gifts
Your financial support of Bay Scholars may actually save you money in taxes, especially this year. Here are some time-sensitive giving opportunities that you may want to consider in your year-end plans that will support not only our Bay Scholars students and families, but also may save you money depending on your tax situation.
Special Tax Savings for Cash Gifts are Set to Expire.
In 2021, cash gifts made to qualified charities can be used to offset up to 100% of your adjusted gross income. In 2022, the deductibility of cash gifts will be limited to only 60% of your adjusted gross income. That means you can save more in taxes if you make a cash gift to Bay Scholars before December 31, 2021.
IRA Required Minimum Distributions are Back.
After being waived for 2020, required minimum withdrawals (or RMDs) from your IRA are again in force for 2021 for individuals age 72 and older. If you wish to support Bay Scholars with this RMD income, you can donate it as a qualified charitable distribution. This way, your IRA will not generate taxable income for 2021.
Timing Your Gifts.
If you mail a check, it must be dated and postmarked by the U.S. Postal Service on or before December 31, 2021, to qualify for a tax deduction this year. If you use an on-line gift, it is considered to be made on the date of the payment.
For more information and to support please go to: https://bayscholars.org/donate/
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