A Little Goes a Long Way

What would you do with an extra $2750 today? For some people, it’s a new computer or a shopping spree. For others, it means an extra month of rent and utilities, or school tuition for a year.

Recently, I came across an interesting statistic: in 2009,?McKinsey estimated that?closing the income achievement gap would raise the United States GDP by $400-600 billion dollars. Adjusted for inflation, that’s almost $900 billion today—enough to give every person in the US $2,750, a full BASIC Fund scholarship.

In 2022, the median salary in the Bay Area was $128,151. The families served by our scholarships earn an average of $43,000 a year, barely a third of the median. A good education is crucial in breaking the cycle of poverty, but as school costs increase, it’s becoming almost impossible for families to invest in their children’s education. The BASIC Fund helps ease that financial strain, so students have stable environments to learn and grow. And, BASIC scholars are graduating college at virtually the same rate as ALL US students, regardless of income. Effectively eliminating that achievement gap.

As I write this, I’m thinking about Julio Barrientos, a BASIC alumnus who spoke at our 25th?anniversary luncheon. Julio took the education granted to him by that BASIC Fund scholarship and brought it to USC, then earned an MBA, and now has a job helping other people manage their money every day. He’s helping others succeed because someone – our donors – invested in his future.?

A BASIC Fund scholarship doesn’t just benefit scholarship recipients. By financing our scholars’ futures, we’re keeping tuition lower in our schools, creating more diverse learning environments, and helping keep family finances stable. When you invest in a BASIC Fund student’s education, you’re investing in a new generation of Bay Area scholars, innovators, and creators. What kind of future will you create?