SCHOLARSHIP & GIVING FAQ'S

 

Creating an Endowed Scholarship

What is an endowed scholarship?
How does it work?
Why give an endowed scholarship?
How do I start the process?

General Gift Information

How can I make a gift?
How do I make a gift of stock?
What is planned giving?
What are some types of planned gifts?
What do I need to know about payroll deduction?
What are the advantages of donating online?
Are international donations accepted?
Are donations tax-deductible in the United States?
Will I receive a receipt?
What is SUNY Oneonta’s Employer Identification Number (EIN), also known as a Federal Tax Identification Number?
How quickly will my donation be processed?
How can I find out if my company will match my gift?
Can I make a confidential donation?
Can I make a gift in honor or in memory of someone?

What is an endowed scholarship?
The gift of an endowed scholarship provides SUNY Oneonta with a permanent asset from which students can receive support. The gift becomes a fund managed by the College at Oneonta Foundation, whose investment objective is to achieve growth that is sufficient to preserve the value of the gift so the annual award is not diminished by inflation.

The minimum principal balance required to establish an endowed scholarship is $25,000. Initial contributions may be made in lesser amounts with no awards made to students until the minimum of $25,000 is reached. Subsequent additions may be contributed at any time in any amount.
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How does it work?
Awards are made annually to deserving students according to the donor wishes and current financial aid policies of the university. While it is preferred that scholarships be unrestricted, it can be appropriate to specify that the scholarship be awarded to students from a specific academic focus or geographic area. The donor may not, however, actually name the individual student to receive the award.

Donors are given information annually about the students who receive their award. We strive annually to provide an opportunity for donors to meet the students who will directly benefit from their commitment.
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Why give an endowed scholarship?
The endowed scholarship program has grown because of donors’ interest in encouraging and empowering our future leaders.

Naming the endowed scholarship is an opportunity to perpetuate your own interest in SUNY Oneonta or to recognize or memorialize a loved one, friend, classmate, or business. All students who receive a named scholarship are made aware that others share a commitment to their education.

As higher education costs continue to climb, today’s students have a greater need for financial assistance. Nationally, more than 60 percent of all public and private college students receive financial aid. More than 73 percent of SUNY Oneonta students receive some type of financial aid.
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How do I start the process?
For more information or to establish an endowed scholarship, please contact:

College at Oneonta Foundation
311 Netzer Administration Building
Oneonta, New York 13820
Telephone: (607) 436-2535
Fax: (607) 436-2686

Email: Michael Sullivan- michael.sullivan@oneonta.edu
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How can I make a gift?
By mail:
Division of College Advancement
308 Netzer Administration Building
Oneonta, New York 13820
Enclose check payable to: College at Oneonta Foundation.  In the check’s memo section, please designate the allocation of the gift.  Examples include:

  • Fund for Oneonta (Annual Fund)
  • Unrestricted Endowment
  • Joseph Poon ’78 Scholarship

By phone:
Call (607) 436-2535 to charge by phone.
Online:
Make a gift online by clicking here.
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How do I make a gift of stock?
Contact Michael Sullivan, Director of Advancement Services and Donor Relations:
Phone: (607) 436-2825
email: michael.sullivan@oneonta.edu
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What is planned giving?
Planned giving encompasses a variety of philanthropic strategies that help you provide for charity while also advancing your own financial and personal objectives. For more information please visit the Planned Giving page.
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What are some types of planned gifts?

  • Bequests: Bequests are made primarily through gifts of cash, securities, real estate, and tangible personal property.
  • Retirement Plans: SUNY Oneonta is designated as a beneficiary of the remainder or a percentage of the remainder of your retirement plan.
  • Other Creative Ways to Give: Charitable lead trusts and other options.

For more information on different types of planned gifts, click here.

For more information on ways to make a planned gift, please contact Ellen Blaisdell at (607) 436-2781 or ellen.blaisdell@oneonta.edu.
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What do I need to know about payroll deduction?
Your gift will be automatically deducted from your pay each pay period, and continue until further notice. You may change your gift amount or designation at any time by contacting Ben Wendrow, Manager of Stewardship and Communications at (607) 436-2594 or benjamin.wendrow@oneonta.edu. Deductions are a minimum of $1 per pay period.
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What are the advantages of donating online?
Online credit card donations can be a cost-efficient way for nonprofits to receive donations. Credit card donations allow SUNY Oneonta to receive funds faster, without having to spend time processing checks. Also, donors need not spend money on a stamp.
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Are international donations accepted?
Yes. SUNY Oneonta accepts both checks and credit cards.
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Are donations tax-deductible in the United States?
Yes, the College at Oneonta Foundation is a 501(c)3 organization.  All charitable contributions to the College Foundation are tax deductible as allowable by law.
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Will I receive a receipt?
Anyone who donates a gift of any amount will receive a receipt from the Division of College Advancement. The receipt is generated once the donation has been processed and is mailed to the donor. If you need a duplicate receipt, please contact Ben Wendrow, Manager of Stewardship and Communications at (607) 436-2594 or benjamin.wendrow@oneonta.edu.
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What is SUNY Oneonta’s Employer Identification Number (EIN), also known as a Federal Tax Identification Number?
22-2403203
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How quickly will my donation be processed?
Typically, donations are processed within two days from when it is received by the Division of College Advancement.
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How can I find out if my company will match my gift?
Find out if your or your spouse's employer will match your gift using our Matching Gift Program Search. The Benefits or Human Resources Office of the donor's employer (or the donor's spouse's employer) will be able to provide necessary information on the company's Matching Gift Program and the method the company uses to process matching requests. According to SUNY Oneonta policy, matching gifts will be credited to the same fund as the donor's original gift, unless:

  • The donor requests otherwise; or
  • The policies of the company prohibit matching gifts to particular funds.

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Can I make a confidential donation?
Yes. Please let us know if you wish that your gift remain confidential.
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Can I make a gift in honor or in memory of someone?
Yes. Gifts in memory or in honor of an individual can be made during one's lifetime or through bequests.  Please indicate this preference while making your gift, and please include honoree's class year, as appropriate.
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