What Am I Supporting When I Make a Gift to the Annual Fund?
Gifts made to the Annual Fund are unrestricted, which means that the funds may be used for any purpose deemed appropriate by the board of trustees in consultation with the college. Annual Fund gifts have been used to augment scholarship funds, provide travel opportunities to students and faculty, and acquire new technologies. Annual Fund gifts enable the Brooklyn College Foundation to place resources where they are most needed, often when no other resources would be available.
How Are Brooklyn College and the Brooklyn College Foundation Related?
The Brooklyn College Foundation was founded in 1958 with the express purpose of raising funds for the enhancement of education at Brooklyn College. To that end, the foundation is a registered corporation in New York State and is registered with the U.S. government as a 501(c)3 Charitable Organization. The president of Brooklyn College serves as a nonvoting member of the board of trustees. The vice president of institutional advancement serves as the executive director of the foundation.
How Are the Brooklyn College Foundation and the BC Alumni Association Related?
Like the Brooklyn College Foundation, the BC Alumni Association (BCAA) is an independently incorporated 501(c)3 organization whose original purpose (as stated in its certificate of incorporation) is "to encourage and promote the educational purposes of Brooklyn College of the City University of New York and the educational welfare of its students." From an operational standpoint, the primary charge of the BCAA is to foster, maintain, and enhance the alumni connection to the college through chapters, graduating classes and professional affiliate groups. In comparison, the primary charge of the BCF is to raise funds to provide resources that advance the mission of Brooklyn College.
Who Supports the Foundation?
Private individuals, private foundations and corporate foundations.
Why Should I Donate Money to the Brooklyn College Foundation?
When Brooklyn College was founded in 1930, tuition was free to New York residents. Today, the largest part of our budget is drawn from tuition and private funding. At $5,700 a year, tuition seems reasonable in the national context; nevertheless, even this modest amount is a challenge for many of our students, 65 percent of whom come from families earning less than $40,000 per year.
As state and city funding continues at static or decreased levels, private funding is a critical supplement that allows us to maintain a margin of excellence beyond what would be attainable from tuition and public subsidies.
What Is the Foundation's Fiscal Year?
A fiscal year is a 12-month period used primarily for accounting purposes. The foundation's fiscal year starts on July 1 and ends on June 30.
I Gave Money to the Foundation This Year, But It Was Not Listed in the Annual Report. Why?
The foundation's Annual Report is based upon financial data from our fiscal year, which ends on June 30. Therefore, if your gift was made in July, your gift would be included in the following year’s Annual Report.
What Are Matching Gifts?
Many employers will match donations given by their employees to qualified charitable organizations. To determine if your employer will match your donation to the foundation, you may contact your human resources department. Once you've determined that your employer will match your gift, you must complete the matching gift form provided by your employer and send it to the foundation. The foundation will verify your gift, complete the form, and return it to your employer. Once we receive the matching gift from your employer, we will acknowledge both you and your employer for the gift.
Are My Contributions to the Foundation Tax-deductible?
Your gifts to the Brooklyn College Foundation are 100 percent tax-deductible to the full extent of the law.
What Are the Types of Gifts That I Can Make to the Foundation?
The foundation accepts various types of contributions:
- A gift of cash by credit card or check (via mail, phone or online)
- A recurring monthly or quarterly charge to your credit card (Boylan Society)
- A gift of appreciated securities
- A gift of real estate
- A gift through a bequest
- A charitable gift annuity payment
- A pledge over a period of up to five years
- A gift-in-kind item donated for the Brooklyn College Foundation online auction
How Can I Be Sure That My Gifts Are Being Used Appropriately?
According to IRS regulations, all charitable organizations must file a Form 990 and allow the public access to the document. The most recent copy of the foundation's 990 may be viewed here or at GuideStar. The 990 provides an overview of the finances of the organization. (See the glossary for a complete explanation of Form 990).
After each fiscal year closes, the foundation submits its financial statements to an independent auditor for review. The auditor then publishes a statement as to the status of the foundation's records and financial standing.
The foundation publishes its Annual Report each fall. The Annual Report lists our donors, activities and audited financial information.
You can always find out more information about your gift by contacting the foundation.
How Can I Be Sure That My Personal Information Will Be Safe With the Foundation?
All information transmitted from the foundation's website is encrypted under a secure socket layer (SSL) and is unreadable until it arrives at the foundation and is decrypted.
The foundation is committed to your privacy. We encourage you to read our Privacy Statement.
How Do I Designate My Gift to a Particular Fund?
If you are donating via our Online Giving page, simply complete the "I would like my gift directed to" statement and we'll do the rest. If you are mailing a check or credit card information, enclose a note stating your desires. If you receive your acknowledgment of the gift and we've credited it to the wrong fund, simply call or e-mail us, and we'll be happy to make the correction.