Gift Policies

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.

Current use restricted funds are gifts and grants deposited with Stony Brook Foundation 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 percent 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.

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. A management fee is assessed annually based on 1% of the five-year rolling average of the endowment’s market value.

A 4.5% spending rate based on a five-year rolling 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. For any questions, please contact David Smith at (631) 632-4469.

Types of Endowments and Naming Opportunities

Stony Brook Foundation 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 Stony Brook Foundation managed accounts.

By making a charitable gift to the Stony Brook Foundation, a 501(c)(3) organization, the donor understands that charitable donations are not refundable.

For any questions, please contact Stony Brook Foundation (SBF) at (631) 632-6536.