JAG FUND DID YOU KNOW
Tuition = not tax deductible
Gift to the JAG Fund = tax deductible Example: Figuring Your Benefits Donor profile: John plans to make a $1,000 cash gift to a qualified charitable organization (PJP). John's annual adjusted gross income is $45,000. John's income tax rate is 28%. Gift amount $1,000
Taxes saved (28% x $1000) $280
Net cost of gift (gift amount - taxes saved) $720 Each year an operating budget is created based on the financial needs and expenses of the school. That number has to be matched primarily through Tuition & Fees. However, the amount for Tuition & Fees does not cover the actual cost for a student to attend PJP on a yearly basis. Total Expenses $2,744,600
Total Income $2,599,600
Gap $145,000 Tuition & Fees account for only $2,366,000 of our total annual income. To completely cover the difference of $145,000, with current enrollment at 314 students, that would call for an increase of $460 per student.
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