Gift Policies
Gift Acceptance Policy
The Gift Acceptance Policy provides comprehensive guidelines and policies and procedures related to the Foundation
and Stony Brook University development activities to ensure the integrity of Stony
Brook University's institutional fundraising efforts; to protect the privacy of Stony
Brook University constituents and donors; to coordinate campus-wide development efforts
for all constituent groups, preventing and simultaneous solicitations for numerous
purposes in the name of Stony Brook University. For any questions, please contact
SBF (631) 632-6536.
Types of funds managed by the Foundation:
Charitable Gift Annuity
A minimum contribution of $10,000 is required and a written agreement between the
donor and the Foundation must be executed to establish an annuity account. Annuities
provide quarterly income at a fixed interest rate (based on actuarial tables) for
the life of the beneficiaries. An administrative fee will be applicable upon termination
of beneficiaries and the account balance is transferred to a current use or endowment
account as per the agreement. For any questions, please contact SBF (631) 632-6536.
Current Use Restricted
Current use restricted funds are gifts and grants deposited with SBF for a designated
department or academic/research program in accordance with the policies and procedures
of the Foundation. The funds deposited are available to spend. A minimum of $1,000
is required to establish a current restricted account. An administrative fee of 10%
is assessed on the total revenue deposited with the exception of scholarship, fellowship
and prize accounts. This fee remains the sole property of the Foundation and may only be disbursed exclusively
to further the Foundation’s mission as determined by the Stony Brook Foundation Board
of Trustees. For any questions, please contact SBF (631) 632-6536.
Endowment Funds
Endowment fund corpus is permanently restricted by donors. Expenditures are made from
the annual interest distribution. A minimum contribution of $100,000 is required and
an endowment fund agreement between the donor and the Foundation must be executed
to establish an endowment account. No administrative fee is assessed on endowment
donations. An annual management fee of 1% is assessed based on the past five year's
average market value.
A 4.5% spending rate based on the past five year's average market value is returned
to the account holder to support the original intent of the endowment. All investment
earnings exceeding the 4.5% interest allocation and 1% management fee are distributed
to the endowment account to grow the endowment fund balance in an effort to hedge
inflation. The corpus of the endowment account can be increased by additional donations.
Example: An endowment gift of $100,000 is donated to the Foundation on July 1, 20x1
and the market value at June 30, 20x2 is $120,000. No interest or management fee will
be allocated to the account in FY20x2. The $20,000 appreciation of investment is reinvested
and credited to the account at June 30, 20x2. The interest distribution of $5,400
is calculated based on 4.5% of $120,000 and will be distributed in September 20x2.
A management fee of 1% or $1,200 is assessed at the same time. For any questions,
please contact SBF (631) 632-6536.
Types of Endowments and Naming Opportunities»
Refund Policy
By making a charitable gift to the Stony Brook Foundation, a 501(c)(3) organization,
the donor understands that charitable donations are not refundable.