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Foundation FAQS

What is the Stony Brook Foundation?
Why is the Foundation separate from the University?
If Stony Brook University is a public university, why does it need private gifts?
How is my gift spent?
Is my gift tax deductible?
Who decides the fund-raising priorities?
Who governs the Foundation?
How is the Foundation funded?
Does the Foundation make grants?
How can I obtain additional information?

What is the Stony Brook Foundation?
On February 24, 1965, the Stony Brook Foundation, Inc. was incorporated "to assist in advancing the welfare and development of the State University of New York at Stony Brook by accepting and encouraging gifts to this corporation and by using such gifts to advance such purposes in a manner consistent with the educational policies of the State University of New York."  The Foundation Bylaws state that a Board of Trustees shall "manage the property, affairs, business, and concerns of the Foundation." 
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Why is the Foundation separate from the University?
Having an independent, nonprofit foundation results in greater fund-raising efficiencies and benefits for the University by assuring proper stewardship of private gifts; providing flexibility and responsiveness; managing assets strategically; engaging volunteers as informed advocates; and ensuring confidentiality of donor records.
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If Stony Brook is a public university, why does it need private gifts?
The State of New York provides less than 20% of the University's annual operating budget.  Private gifts allow the University to attract and retain the best and brightest faculty, provide scholarships, build first-class facilities, and continue the quality education and research programs that are the hallmark of Stony Brook.
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How is my gift spent?
The goal of the Stony Brook Foundation is to maximize the value delivered to the University.  By reducing administrative expenses wherever possible and optimizing organizational efficiencies, the Foundation is able to make available to the University millions of dollars each year.  Each gift received by the Foundation - regardless of the purpose or amount - is carefully processed to ensure that the donor's wishes are honored and that the University receives the maximum benefit.
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Is my gift tax deductible?
The Stony Brook Foundation is a registered 501(c)(3) charitable organization.  All gifts to the Foundation are tax deductible to the fullest extent of the law.  You should consult with your tax attorney/advisor concerning the deductibility of your gift.  The Foundation's federal tax identification number is 11-6077945.
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Who decides the fundraising priorities?
The University's fundraising priorities are established by President Samuel L. Stanley Jr., MD, in consultation with his Cabinet, Deans, and key faculty and staff, as well as in consultation with the Foundation's Board of Trustees.  Fundraising priorities are fluid and are adjusted based upon the University's needs and donor opportunities.
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Who governs the Foundation?
An unpaid volunteer Board of Trustees governs the Foundation.  The University President is an ex-officio voting member of the Board.  The University's Vice President for Advancement also serves as the Foundation's Executive Director.
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How is the Foundation funded?
The Foundation is funded through a combination of mechanisms including, but not limited to, an investments management fee, as well as through other fee structures assessed on certain types of gifts (excluding scholarships and gifts made for endowed purposes).  The fiscal acumen of the Foundation's Board helps the Foundation minimize these fees and ensure that donations are used as effectively and efficiently as possible.
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Does the Foundation make grants?
The Foundation's mission is to support Stony Brook University.  Therefore, the Foundation does not make grants to other organizations or to individuals.
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How can I obtain additional information?
If you have reviewed this web site in its entirety and cannot find the information you need, please contact us by calling (631) 632-4353.  We will do our best to answer your questions in a thorough and timely manner.
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