Farmingdale State College is assisted through revenue from New York State; however, as a percentage of total revenue, that assistance is approximately 30%. The balance is funded through tuition, fees, grants, and private donations. We must rely on our donors to allow us to provide the best educational experience possible for our students.
The Farmingdale College Foundation, established in 1969, is a not-for-profit corporation that provides financial assistance in advancing the purposes and development of Farmingdale State College. Its membership consists of a volunteer board of directors, currently 29 active members and 14 honorary members, which is representative of business and industry, as well as the education community. Directors serve without compensation.
The Foundation provides scholarships and faculty development grants, and supports programs and projects not funded by the State budget. The Foundation also receives gifts and bequests from individuals, foundations, and other organizations and institutions.
For the fiscal year ended 2014, the Foundation awarded 260 scholarships, totaling almost $215,000. Students can apply online for scholarships through: https://farmingdale.academicworks.com. Information can also be obtained by calling the Scholarship Coordinator at 631-420-2144.
The 2013-2014 Annual Internal Campaign for Farmingdale raised over $26,000. Recently, a competition was initiated among the four schools: Arts & Sciences, Engineering Technology, Health Sciences, and Business. The school with the highest proportional participation received a plaque and special recognition. In addition, the individual who contributed the largest donation received an overnight stay with breakfast at Oheka Castle. The awards are presented at a reception held in the spring. To participate in the Campaign, please access the pledge card by going to: http://www.farmingdale.edu/administration/foundation/internalcampaign.shtml.
Ways to Give
Cash gifts provide the Foundation 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, scholarships, athletics, and other mission-driven priorities of the Foundation.
Endowments can serve as a permanent legacy and a lasting tribute, providing support for the Foundation over a period of years and even generations. These endowments are invested and a portion of the income generated by the investment is designated for the purpose selected by the donor.
Many individuals leave a percentage of their estate to charitable causes. The Foundation can help create a personal legacy which can also provide exemptions from federal estate taxes.
The donation of private, commercial or agricultural property is also an ideal way to give. If one’s property has decreased in value, one may consider selling it and contributing the proceeds to receive both a capital loss and a charitable gift deduction.
The donation of stocks and bonds can be ideal for giving, as these are frequently consid¬ered appreciated assets. If an asset has been held for more than one year, its fair market value can often be deducted by up to 30% of one’s adjusted gross income, thus eliminating a portion of capital gains tax from its transfer to the Foundation.
The Farmingdale College Foundation offers Associate Membership to businesses and individuals in the corporate and professional community who are interested in part¬nering with Farmingdale State College.
There are four levels of membership, each with its own unique benefits, including invitations to networking events as well as access to Foundation seminars and programs. For more information about the Associate Membership Program, please call 631-794-6225.