How to Deposit Gifts, Grants and Payments Into Your Stony Brook Foundation Account
Forms marked with "you must be logged into TDX to access" are hosted within the SBF Resources section in SBF TDx Portal. To access the form, you must first be logged into the portal by clicking one of
these links using your NetID and password.
Key Steps for Success:
- Any gift/grant received by a Stony Brook University department, development officer,
center or program should be forwarded within 24 hours via campus mail or in person
to:
Stony Brook Foundation Business Office, Room 270
Administration Building, Z = 1188 - A Gift Deposit Form (you must be logged into TDX to access) must accompany each deposit in order to ensure that the proper donor and account are credited with the gift. Please see the Instructions for SBF Gift Deposit Form (you must be logged into TDX to access) for help.
- The original donor’s letter and/or other substantiating documentation must accompany each deposit. Checks for deposit into a foundation account should be made payable to “The Stony Brook Foundation.” Please keep a copy of the signed form for your records.
- In the case of any other deposits (loan repayment, repayment of advances, reimbursement of expenses, etc.), a Receipt Transmittal Form (you must be logged into TDX to access) must be submitted along with supporting documentation for each deposit. See the Instructions for Receipts Transmittal Form (you must be logged into TDX for access) for helpful instructions. Please keep a copy of the signed form for your records.
SBF accounts are established to receive and manage philanthropic support. As such,
they cannot accept sponsorship dollars.
Sponsorship funding is not considered philanthropic in nature, as it is typically provided in exchange for marketing, promotional benefit, event recognition or other deliverables. Because of this distinction, sponsorship revenue cannot be deposited into, held within or spent from SBF-managed accounts.
Departments anticipating receipt of sponsorship support should pursue alternate university avenues for receiving, holding and administering these funds. This ensures appropriate handling, compliance and reporting based on the nature of the funding.
If you are unsure where sponsorship funding should be directed, please coordinate with your unit business office or central finance team for guidance prior to accepting funds.
Sponsorship funding is not considered philanthropic in nature, as it is typically provided in exchange for marketing, promotional benefit, event recognition or other deliverables. Because of this distinction, sponsorship revenue cannot be deposited into, held within or spent from SBF-managed accounts.
Departments anticipating receipt of sponsorship support should pursue alternate university avenues for receiving, holding and administering these funds. This ensures appropriate handling, compliance and reporting based on the nature of the funding.
If you are unsure where sponsorship funding should be directed, please coordinate with your unit business office or central finance team for guidance prior to accepting funds.
Have questions? Need help depositing money into your account?
Contact:
John Byers
Associate Director of Gift Administration
(631) 632-6618
john.byers@stonybrookfoundation.org
Why do I need to provide supporting documentation?
As per audit requirements, in order to ensure that a donor’s intent is met, gifts should be accompanied by the original donor’s letter and/or other substantiating documentation, such as a solicitation letter, donor letter, email, etc.
Why can’t I donate to my own account?
In order to comply with IRS regulations regarding charitable gifts from donors, SBF cannot allow a donor to have control over their charitable gift. An employee is permitted to make a gift to support their department or their school but cannot have access to use the funds in any way and must relinquish control. Any staff who reports to the employee who is making a gift is also not authorized to be on the account. Only the employee’s direct supervisor and/or an authorized account holder should have control over the use of funds.
Why can’t I deposit funds into my “23XXXX” current use account?
The “23” current use account was established for the funding that comes from a portion of the income generated by the endowment’s investment; this should be the only source of funding that is deposited into an SBF account #23XXXX.
Why can’t I deposit funds with restrictions into my general account if I know about it and will spend the funds correctly?
We are unable to deposit a check with more restrictions into an account that has fewer restrictions. In order to honor a donor’s intent, we need to ensure that, if they noted a specific purpose for the donation, it is used only for that purpose. If we deposit funds with restrictions into a general account, there is no way operationally for SBF to ensure that the donor’s intent has been met. If the language for solicitations is general in nature, there will be more flexibility with using the funds, and the funds can be deposited into the general SBF account.
As per audit requirements, in order to ensure that a donor’s intent is met, gifts should be accompanied by the original donor’s letter and/or other substantiating documentation, such as a solicitation letter, donor letter, email, etc.
Why can’t I donate to my own account?
In order to comply with IRS regulations regarding charitable gifts from donors, SBF cannot allow a donor to have control over their charitable gift. An employee is permitted to make a gift to support their department or their school but cannot have access to use the funds in any way and must relinquish control. Any staff who reports to the employee who is making a gift is also not authorized to be on the account. Only the employee’s direct supervisor and/or an authorized account holder should have control over the use of funds.
Why can’t I deposit funds into my “23XXXX” current use account?
The “23” current use account was established for the funding that comes from a portion of the income generated by the endowment’s investment; this should be the only source of funding that is deposited into an SBF account #23XXXX.
Why can’t I deposit funds with restrictions into my general account if I know about it and will spend the funds correctly?
We are unable to deposit a check with more restrictions into an account that has fewer restrictions. In order to honor a donor’s intent, we need to ensure that, if they noted a specific purpose for the donation, it is used only for that purpose. If we deposit funds with restrictions into a general account, there is no way operationally for SBF to ensure that the donor’s intent has been met. If the language for solicitations is general in nature, there will be more flexibility with using the funds, and the funds can be deposited into the general SBF account.