“Treasurer Lockyer Announces Fundraising Drive to Benefit Bay Area Schools” said today’s news release, in which state Treasurer Bill Lockyer‘s office announced that the ScholarShare Investment Board -– which oversees ScholarShare, the state’s 529 college savings plan — and the San Francisco Giants have partnered to sponsor 12 games at AT&T Park during the 2007 season, with proceeds from each benefiting a Bay Area school district.
“The California State Treasurer’s Office is fully committed to helping California schools and students,” said Lockyer. “This program gives school districts needed funds and lets students experience the thrill of professional baseball in one of the nation’s premier ball parks. I commend the Giants for teaming with ScholarShare, to give back to the community and invest in education.”
Here’s how it works: Each school district will buy a block of tickets from the Giants and then sell them at a discounted rate. For every ticket sold, Fidelity Investments, ScholarShare’s manager, will donate $5 to the district’s education foundation, up to a maximum of 300 tickets.
$5 by 300 tickets, let’s see, that’s… a maximum of $1,500 per district.
For context, consider that a first-year Oakland Unified School District teacher with no prior experience earned a salary of $38,777.60 in the school year ending now. $1,500 is better than nothing, but it’s not exactly going to move any mountains.
ScholarShare, by the way, lets Californians save for college by making after-tax contributions; the earnings grow tax-deferred, and the disbursements — when used for tuition and other qualified expenses — are federal and state tax-free, which is a pretty good idea whether or not America’s pastime is involved.