The Foreign Service Journal, April 2022

AFSA NEWS 58 APRIL 2022 | THE FOREIGN SERVICE JOURNAL Save the Date AFSA’s Foreign Service Day Programming expenses totaled just over $111,000 in 2021. Operating Reserve. AFSA’s reserve fund was valued at approximately $4.4 million at year-end, a large boost over 2020’s $4.2 mil- lion. This is consistent with AFSA’s efforts to build up its operating reserves through prudent stewardship of all its resources, which will con- tinue to be our aim. Scholarship Fund. This 501(c)(3) entity was founded in 1924 to help the children of Foreign Service members pay for college. The fund has grown substantially over the decades, and at the end of 2021 stood at $12.8 million, a significant increase over the $11.6 million at the end of 2020. The fund annually withdraws 4.5 percent of its five-year average value to fund scholarships to Foreign Service children and partially underwrite the operating expenses of the scholarship program. Demand in the form of applications for scholar- ship monies has remained relatively flat over the years. In 2021, the Scholarship Fund awarded $255,000 in needs-based financial aid and $151,000 in merit scholar- ships. Although the fund’s asset value increased sig- nificantly in 2020, the annual withdrawal amount did not. This practice is designed to ensure that any given year’s applicants are not disad- vantaged should there be a dramatic market decline. Fund for American Diplo- macy. The FAD’s mission is to help educate the American public about the role of the Foreign Service and diplo- macy as a tool of America’s influence on the global stage. At the end of 2021, the FAD principal balance stood at $582,000. The FAD is envisaged to provide sus- tained, dedicated support for continuing AFSA’s public outreach, and AFSA and its leadership continue the effort to build up its principal value. The approved 2022 AFSA operating budget dedicates approximately $513,430 to FAD activities, the costs of which will largely be underwritten by transfers from the operating reserve. That number compares to $429,000 in the 2020 oper- ating budget. Revenue from continuing strong sales of AFSA’s Inside a U.S. Embassy book also contributes to this fund. AFSA strongly encourages donations to the Fund for American Diplomacy, which is organized as a 501(c)(3). Donations will assist AFSA’s continued work to improve public knowledge about the vital contributions made by U.S. diplomats to preserving U.S. security and prosperity. Sinclaire Fund. AFSA also maintains the Matilda W. Sin- claire Fund, which is intended to support excellence in language achievement. AFSA draws on that fund annually to pay for language achieve- ment awards. The Sinclaire Fund ended 2021 with $629,776. n —John O’Keefe, AFSATreasurer Don’t forget! The deadline to submit 2021 tax returns or an extension to file and pay tax owed is Monday, April 18, 2022, for most taxpayers, with an automatic two-month extension to June 18 for U.S. citizens and resident aliens living outside the United States. To help you navigate filing federal and state tax returns, AFSA’s 2021 Tax Guide is available online at afsa.org/ taxguide. It summarizes tax laws that members of the Foreign Service community will find relevant, including the taxation of annuities. Note: The guide reported that only taxpayers with a principal place of abode in the U.S. for more than one-half of 2021 qualify for the expanded child tax credit. The article should have stated that only taxpayers with a principal place of abode in the U.S. for more than one-half of 2021 qualify for the advanced payments (paid out between July 15 and Dec. 15, 2021) of the child tax credit. We apologize for any confusion. n Consult AFSA’s Tax Guide Online This year, Foreign Service Day will be held on Friday, May 6. The AFSA Memorial Plaque ceremony will also take place on that day. As has become tradition, AFSAwill host a full day of programming the day before, on May 5.We are planning to host both virtual and in-person programs. Additional aspects of the commemoration will include our annual letters-to-the-editor campaign, leveraging local papers to help raise awareness about the work of the Foreign Service. During the first week of May, leading up to Foreign Service Day, we will have a social media campaign themed “Why I Serve” to recognize and celebrate members of the Foreign Service. AFSAmembers will receive more information about all these initiatives later this month. Members seeking informa- tion about events taking place at the State Department for Foreign Service Day should email foreignaffairsday@state. gov. n NEWS BRIEF NEWS BRIEF