What's New
October 31, 2019
During 2019, the Baughman-Marinelli Opportunity Fund distributed over $50,000 to deserving family beneficiaries. The Fund has distributed nearly $700,000 to family members since the first grant in January 2009.
July 31, 2019
Requirements have changed for beneficiaries seeking loans from the Opportunity Fund. All beneficiaries seeking education and home improvement loans in excess of $7,500 and all business loans will require the submission of the two most recent years personal tax returns (and business returns, if applicable). In addition, each loan applicant must attach a personal credit report to their application.
January 1, 2019
Trustees confirmed the following grant guidelines for 2019:
- Earned Income Match percentage maximum has increased to 3.0% for 2019.
- Full-time undergraduate tuition cap will remain at $3000 per semester ($6000 per school year). Tuition applications can be submitted for an entire school year instead of having to submit a new application each semester.
- Graduate coursework is capped at $250 per credit; $10,000 max for graduate program tuition.
- Pre-school education will remain at 50% of the monthly fee capped at $100/month.
- New home purchase grants caps remain at $13,000 for 2019. First-time home buyers will be able to receive up to 50% of their out-of-pocket closing expenses and home buyers who have previously owned a home will be able to receive up to 4% of their home purchase price.
April 1, 2018
The Opportunity Fund Trust document was re-written and enhanced to ensure the Trust was available to family members for many years to come. The legal location of the trust was moved from California to Nevada and a Corporate Trustee was added to ensure the trust can continue uninterrupted as the Grantors age and can no longer manage the trust's activities.
In addition, the Earned Income Matching provision was enhanced to allow beneficiaries to include tax-free deferrals (like 401Ks and HSAs) in their W-2 income for Earned Income Matching purposes. In order to take full advantage of the new Earned Income Matching provision, the beneficiary may have to submit their year-end pay stubs in addition to their W-2 tax forms.
The new Opportunity Fund requires an EMail consent form for all beneficiaries over the age of 18 so that the trust managers can communicate with beneficiaries via EMail. The EMail consent form can be found on the Forms/Newsletters page. Beneficiaries should complete the form and send it to their family representative to ensure they can receive future Opportunity Fund communications.
The Opportunity Fund application was also updated to reflect the submission requirements for Earned Income Matching. Beneficiaries should download the new form and begin using it for new grant/loan applications.