GEM 529 Educational Plan

Florida State Golf Association - Junior Team Championships - Teams 16-18, 2018

Gold Coast Junior Golf Foundation (GCJGF):

Where Each Round Prepares You For College

GCJGF announces a first of its kind membership GEM (GCJGF EDUCATIONAL MONEY) program. In addition to our existing scholarship program for college bound players, GCJGF announces a program whereby an annual contribution will be made by the foundation to eligible members’ 529 savings plans.

On an annual basis, GCJGF will determine the full contribution amount.

Members who have participated in a minimum of 7 events during the season will be eligible to receive a contribution from GCJGF to their existing 529 savings plan or other qualifying tax advantaged educational account.

The contribution amount will be based on the number of rounds played on Sunday.

For information on establishing a 529 savings plan go to https://www.myfloridaprepaid.com/savings-plan/

Additional 529 plans are available through other sources and can be found by a web search.

2020 Distribution Projections*

The schedule shown below is examples based on actual participation had the plan been in place in the most recent three years. For 2020 our expected contribution is $20,000. There are 83 members who still have a chance of meeting the 7 event threshold.

 201920182017
Designated Contribution Amount ex:$10,000$10,000$7,500
Tournaments Required777
Eligible Members202621
Total events played182251190
Contribution per Event$54.95$39.84$39.47
Player with 7 events$384.62$278.88$276.32
Player with 10 events$549.45$398.41$394.74
Player with 13 events$714.29$517.93$513.16

2020 Participation Estimates*

A player who participates in 10 events with GCJGF starting at age 7 would add approximately $13,000 to their college fund as a result of playing GCJGF tournaments (assuming 2019 data remains constant).

Player AgeSum of Actual ContributionAverage Market GrowthValue
7$54910%$604
8$1,15410%$1,269
9$1,81910%$2,001
10$2,55010%$2,805
11$3,35410%$3,690
12$4,23910%$4,663
13$5,21310%$5,734
14$6,28310%$6,912
15$7,46110%$8,207
16$8,75710%$9,632
17$10,18210%$11,200
18$11,75010%$12,925

*The above tables are for illustration purpose only. Actual numbers depend on current market condition, the number of eligible GCJGF members, rounds played and money available for distribution.