It’s time to pull that sequined vintage flapper dress out of the closet and get a ticket to the Murder Mystery Dinner at the Darby Clubhouse for Saturday, March 7th because the Friday event is already sold out!
The event is a fundraiser for Darby Brilliant Beginnings, a local non-profit organization formed about five years ago that opens a free savings account for every kindergarten student in Darby and seeds it with a $100 deposit. The savings accumulate in a deposit-only account at the Bitterroot Community Federal Credit Union until the child graduates at which time the money becomes available to the student.
“The idea,” said DBB President Christina Harrell, “is that parents and grandparents can make deposits into the account and use it as a savings for their children’s future education and employment.”
But the aim also includes instilling financial literacy and good savings habits in the children themselves by offering incentives to the children to help them save. Any kindergartener who contributes $10 or more each month for six months receives a $50 reward bonus from the DBB.
First graders this year all got piggy banks with one month to save up money. At the end of the month the piggy bank is opened, and the money is counted. The DBB then matches the funds up to $20. Second graders are rewarded for drawing a picture of who they want to be. Third graders go on a field trip to the local Credit Union where they are given money to make an actual deposit into their own account. Fourth graders got to read books about financial management to kindergarteners and earn $5 per book up to $20 for their savings accounts.
The accounts are automatically set up for each kindergartner in Darby each year for free and do not contain any hidden fees, shares or costs. Since the DBB owns the account until the child’s graduation (or equivalent), it does not affect any public assistance or financial aid that the family may be receiving. This could make a difference for many students in Darby. Roughly 65-75% of Darby children qualify for Free & Reduced Lunch, and many are born into families with no savings or assets of any kind.
Studies show that a child with a college savings account in any amount is significantly more likely to attend college than one without, regardless of income, race or academic achievement. But if a traditional route through a four-year college education is not right for the child, according to Harrell, they can use the funds to pay for alternative post-secondary education, such as community college, or technical or vocational training. Upon approval from the DBB board of directors, the funds may even be used to start a business with a solid business plan.
If the child decides not to pursue postsecondary education or entrepreneurial opportunities, the saved funds will be returned to them when he or she turns 25. Incentives or matching funds contributed by DBB will be returned to DBB.
Harrell said that there was some hesitation by some people in the community when they first started the program but that it is now very well accepted.
She said even people with children who are past kindergarten age are asking to set up accounts.
“It gets better and better every year,” she said.
Harrell thought that people would be really interested in the menu for the Murder Mystery Dinner fundraiser. You have your choice between lemon-dill baked salmon, bacon-wrapped meatloaf with red wine glaze, or a vegan dish of roasted root vegetables atop a bed of baby spinach and French green lentils.
Tickets for the Saturday event are available online on the Darby Brilliant Beginnings Facebook page, at Bitterroot Community Federal Credit Union, Darby Espresso or Electric Beach.
Find more information online at info@darbybrilliantbeginnings.org