Types and Acceptance of Gifts

Types and Acceptance of Gifts
Types

Annual gifts are any gifts, regardless of size, that can be expected to recur on an annual basis. These gifts rely heavily on proper donor and prospect management.

Current use gifts are those intended for immediate or near-term expenditure.

Designated gifts are those in which the donor specifies a specific use, for example a program, scholarship, project, etc.

Endowment gifts are gifts maintained, invested and managed by the SUNY Cobleskill Foundation to fund an initiative in perpetuity. The gift is used as principal and only investment earnings are distributed. The minimum level for an endowed account is $10,000.

Major gifts are those at a level significantly above a donor's normal level of annual support. These gifts can be outright, a multi year pledgmulti-yearned gift or a combination thereof.

Planned gifts are those gifts that incorporate some element of the deferred transfer of assents, such as an income trust or a provision within a donor's will.

Acceptance

Decisions regarding acceptance of any gift of a value up to $100,000 are made by the Office of Institutional Advancement in conjunction with the Vice President of Administration and Finance and the dean or director of the program area of the college which will benefit from the gift.

The president of the college must approve any gift over a value over $100,000 and any gift which, in the opinion of the Executive Director of Development, exposes the college to an uncertain or potentially significant liability, is precedent setting, or involves sensitive issues.

The SUNY Cobleskill Foundation, the SUNY Cobleskill Alumni Association and SUNY Cobleskill reserve the right to decline any gift that is believe to not be in the best interest of the college or the students, or if maintenance of said gift would result in a fiscal or legal liability for the college, the foundation or the association.

All donations toward SUNY Cobleskill divisions, departments and programs should be made to "SUNY Cobleskill Foundation" or "SUNY Cobleskill Alumni Association." Donations designated for a specific project, scholarship, or department should be labeled as such on the memo portion of the check.