Gold Coast Junior Golf Foundation: 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 number of events, depending on the number of completed scheduled 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.
GEM 529 EDUCATIONAL PLAN:
The schedule shown below is an example based on 2020.
The GEM funding for the 2023-2024 season is $50,000.
Players must have passed the Rules Test by August 19th to receive a contribution.
| GEM 529 PLAN | 2020 |
|---|---|
| Contribution Amount | $25,000 |
| *Tournaments Required | 5 |
| Player with 5 events | $339 |
| Eligible Members | 54 |
| Total Events Played | 368 |
| Contribution per Event | $67.80 |
| Player with 6 events | $407 |
| Player with 7 events | $475 |
| Player with 8 events | $543 |
| Player with 9 events | $611 |
| Player with 10 events | $678 |
| *Required Events was Revised due to the Cancellation of Two Events | 10 |
2020 Participation Estimates*
A player who participates in 10 GCJGF events starting at age 7 would add approximately $15,000 to their college fund as a result of playing GCJGF tournaments (assuming 2024 data remains constant).
| Player Age | Sum of Actual Contribution | Average Market Growth | Value |
|---|---|---|---|
| 7 | $675.00 | 10% | $742.50 |
| 8 | $1,417.50 | 10% | $1,417.50 |
| 9 | $2,234.25 | 10% | $2,234.25 |
| 10 | $3,132.68 | 10% | $3,132.68 |
| 11 | $4,120.94 | 10% | $4,120.94 |
| 12 | $5,208.04 | 10% | $5,208.04 |
| 13 | $6,403.84 | 10% | $7,044.22 |
| 14 | $7,719.22 | 10% | $8,419.15 |
| 15 | $9,166.15 | 10% | $10,082.76 |
| 16 | $10,757.76 | 10% | $11,833.54 |
| 17 | $12,508.54 | 10% | $13,759.39 |
| 18 | $14,434.39 | 10% | $15,877.83 |
*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.