Family Tuition Relief Fund
What is the Breck Family Tuition Relief Fund?
In the spirit of our core value of social responsibility, the Breck Family Tuition Relief Fund has been created to provide tuition assistance during the 2020-21 academic year to families whose economic circumstances have been impacted by the COVID-19 pandemic. The fund will also be supported by generous, heart-felt charitable donations from members of the Breck community.
Some of our families are already receiving financial assistance for tuition and may require additional aid in the interim, while others may be facing this need for the first time on a short-term basis. Newly matriculating families for the 2020-21 school year may suddenly be faced with the decision of forgoing a Breck education for their children. As such, our Board of Trustees and Finance Committee are anticipating an increased need for financial assistance in the next academic year.
Rooted in our Episcopal values, we are a community of compassion and support. We are firmly committed to providing security, stability, and continuity to students and families during this extraordinary time of need.
Breck recently conducted an appeal for families affected by COVID-19. How is this different from the Family Tuition Relief Fund?
Just after Spring Break began, several families contacted the school for help with emergency needs, such as food insecurity, or other challenges meeting day-to-day living expenses in their households. As a supportive community, we launched the #MustangsUnite appeal to provide short-term assistance to these families for immediate needs to promote family stability. We are grateful to those community members who reached out in support.
The Breck Family Tuition Relief Fund differs because its focus is solely on providing financial support for tuition, so that our students can remain a part of the community that values and supports their personal, academic, and intellectual development.
How is the Family Tuition Relief Fund different from Breck’s Annual Fund?
The Annual Fund has always been the lifeblood of Breck, and will continue to remain so. Tuition expenses alone do not cover the costs of the extraordinary experiences we are able to provide our students (athletics, performing arts, faculty development, co curricular activities, etc.), and even before COVID-19, the school was awarding roughly $6 million in financial assistance to our families.
Because we anticipate an increase in the need for financial assistance in the upcoming academic year, the Breck Family Tuition Relief Fund has been created during this extraordinary time of uncertainty to ensure that our community remains strong, vibrant, and united.
This is a crucial moment in our community’s history. But it is temporary, and we will recover.
We remain united. We are Mustangs.
Now more than ever, Breck’s mission has never been more important, and we ask that you consider helping us, in whatever way that is meaningful to your family, to ensure that the community and relationships that make Breck, Breck, weather this storm and endure.
For our students, for our families.
For what we remain committed to.
We are all Mustangs.
From the CARES act:
The federal government allows you to deduct a charitable donation to a qualified organization if you don’t get anything in return for the donation.
Under 2018 tax law, you could deduct donations that exceeded 60% of your contribution base—meaning your adjusted gross income (AGI). For 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) replaces the 60% of AGI charitable contribution limit with 100% for cash contributions to any public charity. The higher limit applies to contributions made directly to charitable organizations and does not apply to contributions to donor advised funds, supporting organizations or private foundations. As always, please consult your accountant for qualified financial advice.