Gifts to the College are made through the Farmingdale Foundation, a registered 501 (c)(3). Gifts are tax deductible and cane be made for a specific purpose or can be non-restricted and for any use. The Farmingdale College Foundation is a not-for-profit corporation that provides financial assistance in advancing the purposes and development of the College. The Foundation provides scholarships, faculty development grants and funds for programs and projects that are not funded by the State budget. The Foundation also receives gifts and bequests from individuals, foundations or other organizations and institutions.
To make a gift to the Farmingdale Foundation, please contact the Office of Development and Corporate Relations at (631) 420-2142 or firstname.lastname@example.org.
In addition, gifts can be made to support the activities of the Alumni Association, which is also a registered 501 (c)(3). The Alumni Association is responsible for creating a variety of activities for alumni, including reunions, recreational events, and networking opportunities, as well as supporting the College through the funding of scholarships.
To make a gift to the Alumni Association, contact the Office of Alumni Affairs, at (631) 420-2369 or email@example.com.
Some of the ways in which you can support the College are:
Cash gifts provide the College with flexibility to use donated funds as needed for the purposes for which they have been pledged. These funds are often designated by donors to support faculty teaching and research initiatives, innovations, scholarships, athletics, and other mission-driven priorities of the College. Funds can be restricted for specific use or un-restricted, for use at the College's discretion. If your em ployer has a matching gift program, you may obtain a Matching Gift form from your Human Resources department and submit it with your gift.
Endowments can serve as a permanent legacy and a lasting tribute, providing support for the College over a period of years and even generations. These endowments are invested by the Farmingdale Foundation, and a portion of the income generated by the investment is designated for the purpos e you have selected, such as scholarships, research, academic programs, or construction.
Often donors wish to make contributions in memory of a loved one. These gifts help to keep alive the legacy of an individual's life and achievements. Like all gifts, the donation is included in the Foundation annual report and acknowledged by the Foundation.
The donation of private, commercial or agricultural property is also an idea way to give. If your property has decreased in value, you may consider selling it and contributing the proceeds to receive both a capital loss and a charitable gift deduction.
Equipment of Personal Property
Works of art, books, vehicles, and the like may be considered gifts of personal property. The amount assigned to the gift will depend upon an appraised value, and also on how the gift will be used by the College. We suggest contacting the Foundation or the Alumni Office before making such a gift.
Many individuals leave a percentage of their estate to charitable causes. We recommend that you consider even a small amount, such as 1%, 3%, 5%--or more. The Foundation or Alumni Office will work with you in creating this personal legacy which can also create exemptions from federal estate taxes.
Stocks and Bonds
The donation of stocks and bonds can be ideal for giving, as they are frequently considered appreciated assets. If you have held the asset more than one year, you can deduct its fair market value up to 30% of your adjusted gross income, and owe no capital gains tax from its transfer to the Foundation or the Alumni Association.
For information on other ways to give, including Trusts, Charitable Gift Annuities, Life Insurance Gi fts, and Retirement Funds, please contact the Foundation or the Alumni Association.