The Queens College Foundation/Office of Development is responsible for
fund raising activities and gifts to Queens College fro
The Office of Development of Queens College is
responsible for fundraising activities and gifts made to Queens College from
individuals, private and corporate foundations, corporate and matching
corporate gifts. Although gifts are solicited by the Office of
Development, gifts received are deposited into the Queens College Foundation
and are utilized in accordance with the wishes of donors. The Development
Office and Queens College Foundation work together as an integral unit for the
purpose of supporting the fundraising goals and needs of Queens College. For
this reason all gifts made on behalf of QueensCollege should be made
payable to the Queens College Foundation. The types of gifts generally
accepted are:
Donations of securities (equities and bonds)
Gifts of securities by certificates belonging to the donor should be sent by certified or registered mail or by hand. A stock power form, signed by the donor and naming the Queens College Foundation as transferee, should be delivered under separate cover. Donors through their brokers wishing to gift securities by wire should call the Office of Development or Foundation Office for wire instructions. In all cases, securities should be supplemented with written correspondence to the Foundation that includes full name (s) of donor (s) to be credited for the gift and the purpose of the gift (restricted or unrestricted). Securities will be sold promptly on receipt unless otherwise instructed by the Board or the Gifts Committee.
Gifts of real estate or tangible property
Offers of gifts of real estate intended for sale or use by Queens College may be accepted only after review by legal counsel and approval by the Queens College President and the Queens College Foundation Board. A donor may retain life use of the property for him/herself and others in the gift of property. All expenses associated with the real estate property, including but not limited to maintenance, real estate repair, taxes, insurance, and indebtedness, must be borne by the donor or primary beneficiary. All gifts of real property are to be clear of debt with unencumbered title when deeded. Obtaining a valuation is the responsibility of the donor.
Bequests
All bequests made on behalf of Queens College should be made to the Queens College Foundation, 65-30 Kissena Boulevard, Flushing, and New York 11367. Because of the complexity of Federal tax laws and state laws regarding wills, donors are encouraged to consult with their attorneys and other professional advisors, such as accountants, bankers and life insurance advisors before preparing their Wills or making gifts.
Goods and services
Acceptance of goods or services that would constitute useful additions to Queens College is encouraged. Since proposed gifts-in-kind may place demands upon the College in terms of special requirements, it is necessary that appropriate administrators, Deans or Chairs, should be notified in advance of all such potential donations. If it is determined that Queens College is able to accept the donation, all relevant information must be forwarded in writing to the Gifts Committee. Information should include: (a) description of asset; (b) the purpose of the gift and the department(s), program(s), center(s) or college area to benefit from the gift; (c) an estimate or appraisal of the gift’s fair market value and marketability; (d) any potential benefit by the College; (e) any special arrangements requested by the donor concerning disposition (e.g., price considerations, time duration prior to disposition, potential buyers, etc.); (f) analysis of any cost associated with the gift, including disposition, increased maintenance or ongoing costs of any kind, and an accounting of how those costs are to be paid.
Royalties and insurance
Gifts of insurance and royalties (which include copyrights, patents, and trademarks) and life insurance policies may be accepted. Subject to prior review by the Board or Gifts Committee, the Foundation will accept life insurance policies, including whole life, variable, and universal life policies, which meet the following criteria: (a) the policy is either paid-up or, if not paid-up as of the date of conveyance of the gift; the donor must commit to contribute funds to pay the premiums which equals or exceeds the total premiums due; (b) the Foundation is designated as the owner and beneficiary of the policy; (c) if intended for endowment purposes, the face value of the policy meets the minimum funding standards for endowments set forth below.
Works of art
Gifts of works of art, both self-created and purchased, will be accepted by the Foundation for the College; however, (1) the decision whether or not the art is displayed in the College will rest with the College Art Committee; (2) no commitment will be made to keep the art – if it is not suitable for the College, it will be sold; (3) the gift will be placed on the Foundation books at $1.00 unless a valid independent appraisal is supplied at the donor’s expense.
Charitable remainder trusts, both annuity and uni-trusts
The Queens College Foundation/Office of Development is responsible for
fund raising activities and gifts to Queens College fro
The Office of Development also maintains the extensive
Queens College database and coordinates the use of the database with the Queens
College Office of Alumni Relations. (For online registration click here) The
Office is also responsible for coordinating the Annual Appeal, Q Award Gala,
Capital Campaign and a variety of other fundraising activities.
Information regarding any of these activities or someone requesting further
information on establishing or contributing to:
Endowment Fund
The Board has approved the establishment of special purpose and "unrestricted" endowment funds upon the receipt of gifts or commitments that meet approved financial and other criteria for such funds. An endowment fund may be established even though the principal amount may not meet the minimum requirement until a future date if: (a) at least one-half (or such lesser percentage as the Board may approve) of the corpus minimum has been irrevocably gifted, and an agreement is signed by the donor with an approved plan to complete the minimum corpus in a specified time period. Commonly acceptable types of endowments funds with recommended establishment levels are: (1) Scholarships, awards or fellowships for students (minimum gift - $10,000); (2) Lectureships, exhibit and performance funds (minimum gift - $30,000); (3) Enrichment and maintenance funds (minimum gift - $50,000); (4) Named Professorships (minimum gift - $500,000); (5) Named Chairs (minimum gift - $3,000,000). There is no minimum amount for a gift that is to be added to any established endowment fund. If, in the opinion of the President of Queens College, with the approval of the Board, all or part of the earnings of an endowment fund cannot be appropriately used in the manner designated, the Foundation may use the same for other appropriate purposes as nearly aligned to the original intent as good conscience and need dictate within the mission of Queens College.
Except as otherwise agreed to by the Board or Executive Committee, the amount credited on an annual fiscal year basis to each endowment fund is the "spending rate" regardless of the actual performance of the Foundation’s portfolio. The spending rate for endowment funds is set by the Board. The spending rate is generally set once a year; however, the Board reserves the right to review or change the spending rate over the course of any given year.
Named Scholarship Endowment Fund
A Scholarship Endowment is established with a minimum gift of $10,000. The interest from the endowment is used to fund student tuition. Since the principle is never utilized this is a perpetual gift and the endowment is title with the name of the donor or with the name selected by the donor. The endowment funds are maintained in a separate account within the Queens College Foundation but commingled for investment purposes. A donor can establish criteria, and amount to donated from the interest that the endowment receives each year.
QC Scholars Endowment
A Queens College Scholarship Endowment is established with a minimum gift of $5000 the interest from the endowment is used to fund the Queens College Scholars Program. The Queens College Scholars Program funds are used to attract or assist incoming student (first year as well as transfer student) and is used to pay tuition expenses only. Students must maintain a 3.0 GPA in order to continue in the scholarship program. The students are told of the donor’s contribution but the endowment is not named on behalf of the donor. Students are selected from the general education pool which means that a student’s major is not considered but GPA and merit are part of the consideration.
Scholarship funds
A Scholarship Fund is established with no minimum gift amount, the scholarship is awarded to a student in an area (i.e.: math, education, history etc or for general education) at an amount to determined by you the donor. For example you may which to donate $1000 and earmarking $200 each year to be given to a student majoring in history or general education. In 5 years the $ 1000 would be depleted and the scholarship would end. Of course you could donate to the scholarship each year until the funds are depleted. You may also restrict the scholarships so that only students in their second, third or last year of study are considered. Many donors include this restriction when considering students in a particular major since many students do not declare a major or may switch to a new major in their second or third year of study.
Please visit the list of scholarships .
Restricted Gifts to Academic Departments, Centers, etc.
The Foundation accepts both restricted and unrestricted gifts. Other than endowments, there is no minimum amount for an unrestricted or restricted gift for current operations, annual fund and special campaigns. Memorial and honorary gifts also are accepted in any amount. Restricted gifts when accepted will be administered as the donor stipulates consistent with the policies set forth by the Foundation Board of Trustees. A charge of 7.5 percent will generally be applied to restricted gifts, which amount will be credited for unrestricted use by the College. The funds received from the 7.5% charge to restricted gifts are used to support student scholarships and academic programs. The charge will be reviewed for adjustment periodically by the Board.
The Queens College Foundation/Office of Development is responsible for
fund raising activities and gifts to Queens College fro
Please contact the Office of Development by e-mail
(QC.Foundation@qc.cuny.edu), telephone (718-997-3920) or write to the Queens College
Foundation (65-30 Kissena Boulevard, Flushing, New York 11367).
