SUNY Oneonta Foundation

THE STATE UNIVERSITY COLLEGE AT ONEONTA FOUNDATION CORPORATION, INC.

Donor Privacy Policy

The State University College at Oneonta Foundation values and protects donors’ personal information. The Foundation will not share or sell a donor’s personal information with anyone else, nor send donor mailings on behalf of other organizations. This policy applies to all information received by the State University College at Oneonta Foundation, both online and offline, on any Platform, as well as any electronic, written, or oral communications.

Approved by the Foundation Board January 22, 2021
Amended and approved by the Foundation Board April 9, 2021

Mission, Vision Statement, Bylaws and Policies of the State University of New York at Oneonta Foundation Corporation

May Not Be Duplicated © State University of New York at Oneonta Foundation Corporation

NOVEMBER 2024

Direct Questions to: Paul J. Adamo Executive Director, State University at Oneonta Foundation 039 Alumni Hall - Ground Floor108 Ravine Parkway Oneonta, NY 13820, 607-436-2535, paul.adamo@oneonta.edu.

Contents

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION

Mission and Vision Statements

Mission Statement

The mission of the State University of New York at Oneonta Foundation Corporation is to raise and administer gifts and grants to enhance the academic status of the University through endowment, scholarships, and institutional programs.

Vision Statement

The State University of New York at Oneonta Foundation Corporation will provide a $100 million endowment supporting affordable access to high quality academic experiences for students at SUNY Oneonta. Alumni and friends will be engaged through the Foundation to identify and promote programs that enhance our students’ university experiences and long-term goals.

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION

BYLAWS

ARTICLE I

OBJECTIVES

1. Objectives of the Corporation. The objectives of the Corporation shall be:
   1. A. To raise, receive, and administer private funds for educational and charitable purposes for the State University of New York at Oneonta, consistent with the Corporation’s Grant and Gift Acceptance Policy, and to that end to take and hold by bequest, gift, grant, purchase, lease, or otherwise, either absolutely or jointly with any other person, persons, or corporation any property, real, personal, tangible or intangible, or any undivided interest therein, without limitation as to amount or value; to sell, convey, or otherwise dispose of any such property and to invest, reinvest, or deal with the principal or the income thereof in such manner as, in the judgment of the Corporation’s Board of Directors, will best promote the purposes of the Corporation without limitation, except such limitations, if any, as may be contained in the instrument under which such property is received, the certificate of incorporation, these bylaws of the Corporation, or any laws applicable thereto.
   2. B.T o assist in advancing the welfare and development of the State University of New York at Oneonta, a campus of the State University of New York, by soliciting and accepting grants and gifts to this Corporation, and by using these grants and gifts to advance such purposes in a manner consistent with the mission of the Foundation, and educational objectives and policies of the State University of New York at Oneonta and of the State University of New York. To provide financial assistance to the State University of New York at Oneonta, and its faculty, staff, and students, including, but not limited to, scholarships, fellowships, internships, loans to students, support of research programs, conferences, seminars, cultural events, equipment for educational and research projects, library holdings, endowed chairs, athletic programs, the State University of New York at Oneonta Alumni Association, university-community programs, travel, university-related publications, campus beautification, university facilities, and development and fundraising programs.
   3. C. In general, to exercise any and all powers which may now or hereinafter be lawful for the Corporation to do or exercise under and pursuant to the laws of the State of New York for the purposes of accomplishing any of the objectives of the Corporation.
   4. The objectives of this Corporation are confined to those which are strictly educational and charitable for the State University of New York at Oneonta.
   5. The Corporation shall not engage, nor shall any of its funds, property, or income be used, in promoting or otherwise attempting to influence legislation, nor shall the Corporation participate in or intervene in (including the publishing or distributing of statements) any political campaign on behalf of any candidate for public office, nor shall the Corporation engage in subversive or un-American activities.
   6. To do anything incidental to or connected with the foregoing objectives or in advancement thereof, but not for the pecuniary profit or financial gain of its Directors or Officers except as permitted under Article 7 of the New York State Not-for-Profit Corporation law.
2. Related Objectives of the Corporation.
   1. A. The activities of the Foundation will be consistent with the educational objectives and policies of the State University of New York at Oneonta and the State University of New York.
   2. B. The State University of New York at Oneonta Foundation Corporation is not an agent of the State of New York or the State University of New York.

ARTICLE II

MEMBERSHIP

1. Members. There shall be no membership in the State University of New York at Oneonta Foundation Corporation.

ARTICLE III

DIRECTORS AND OFFICERS

1. Number of Directors. The property, affairs, activities, assets, and concerns of the Corporation shall be vested in a volunteer Board of Directors, serving without financial compensation, consisting of no fewer than five and no more than twenty-seven Directors, three Ex-Officio Directors, and two Student Directors, all of which are voting Directors. In addition to the voting Directors, there may be a number of non-voting Honorary Directors, some of whom may be students. The maximum number of Honorary Directors shall be no more than one-half the number of voting Directors. The Ex-Officio Directors shall be the President of the University, the Vice President for Finance and Administration of the University and the Vice President for University Advancement/Executive Director of the State University of New York at Oneonta Foundation. The members of the Board shall enter upon the performance of their duties according to the terms specified at the time of election and shall continue in their positions as Directors until their elected terms expire, their resignation, or removal from the Board.
2. Number of Officers. The Officers of this Corporation shall be a President, a Vice President, a Secretary, a Treasurer, and an Executive Director. No Director shall serve simultaneously in two or more Officer positions.
3. Election of Directors and Terms. The composition of the Board may include alumni, faculty, administrators, students, and friends of the State University of New York at Oneonta. The President, Vice President for Finance and Administration, and Vice President for University Advancement/Executive Director of the State University of New York at Oneonta Foundation shall by virtue of their offices serve as Ex-Officio Directors and the persons holding these positions shall be exempt from the provision that no Director may serve more than eight consecutive years. At least one-half of the Directors shall be graduates of the State University of New York at Oneonta. At any duly constituted meeting of the Board, a Director or Directors may be elected or re-elected. Directors shall be elected or re-elected for a term of up to four years. No Director may serve more than eight consecutive years, except that the Board may elect a Director whose second four-year term is expiring at the close of the Annual Meeting to the office of President, Vice President, or Secretary, i.e., the elected officers, for a two year term, or, if the Director’s second four-year term ends in January or June, the Board may extend the Director’s term until the end of the next Annual Meeting of the Board if the Board by a majority vote at a duly constituted Board meeting passes a motion stating that it is the Board’s present intention to elect that Director as President, Vice President, or Secretary of the Board at the next Annual Meeting. Even if the Board passes such a motion, the Board may decline to elect that Director as President, Vice President, or Secretary i.e., an elected officer, in which case that Director’s term will end. The Board may vote by a majority vote to extend by up to six months the second four-year term of any Director who is a chair of any Board committee if the Board concludes that the extra time is needed to ensure that a suitable successor chair of that committee is both a Director and ready and willing to assume that chair position. At any duly constituted meeting of the Board, an Honorary Director or Honorary Directors may be elected or re-elected. An Honorary Director shall be elected or re-elected for a term of up to four years and shall not serve for more than eight consecutive years. No person after completing eight consecutive years as a Director or Honorary Director shall be elected as a Director or Honorary Director until one year has passed from the expiration of that person’s term as a Director or Honorary Director. At any duly constituted meeting of the Board, a Student Director(s) may be elected or re-elected. A maximum of two State University of New York at Oneonta undergraduate or graduate Student Directors may be elected as voting members for a term of one year after which a student may be eligible for re-election. Any student serving as a Student Director shall be a Junior, a Senior, or a Graduate student. The election of students shall take place at the April meeting, if possible, and the one-year term for students shall begin in June. A person may be elected a Director, an Honorary Director, or a Student Director after being nominated by the Board Development and Governance Committee and upon receiving a majority vote of the Directors present at a duly constituted meeting.
4. Duties of Directors. Directors, including Ex-Officio Directors and Student Directors, may: (1) Hold Board of Directors and Committee meetings at such times and places as they think proper; (2) Serve on Committees as appointed by the Board President; (3) Elect and remove Directors, Honorary Directors and Student Directors; (4) Create standing committees or subcommittees for particular responsibilities; (5) Approve an annual budget, invest and manage assets of the Corporation, and authorize disbursement of funds of the Corporation; (6) Print and circulate documents and publish articles; (7) Carry on correspondence and communicate with other organizations; (8) Employ or retain agents and persons; (9) Develop and execute such other measures as they may deem proper and expedient to promote the objectives of the Corporation; (10) Allocate funds to be used by the President of the University and the Executive Director for development and fundraising programs and purposes; and (11) Attend any standing committee or subcommittee meeting whether or not a member of that committee or subcommittee.
5. Duties of Honorary Directors. Honorary Directors will hold no voting privileges. However, they are encouraged to (1) serve on at least one standing committee of the Board, with the exception of the Audit Committee, and may sit in on any standing committee meeting whether or not a member of that standing committee, and (2) attend at least one meeting of the Board of Directors, preferably the Annual Meeting of the Board.
6. Removal of Directors. Any of the elected Directors, Student Directors, or Honorary Directors may be removed by the affirmative vote of three-fourths of the Directors at a duly constituted meeting.
7. No Compensation. No Directors, Ex-Officio Directors, Honorary Directors, or Student Directors shall receive compensation from the State University of New York at Oneonta Foundation Corporation for services performed in their official capacities. However, upon request, they shall be reimbursed for reasonable expenses related to fundraising.
8. Indemnification. The Corporation shall, to the extent legally permissible, indemnify each person who may serve or who has served at any time as an officer, director, or employee of the Corporation against all expenses and liabilities, including, without limitation, counsel fees, judgments, fines, excise taxes, penalties, and settlement payments, reasonably incurred by or imposed upon such person in connection with any threatened, pending, or completed action, suit or proceeding in which he or she may become involved by reason of his or her service in such capacity; provided that no indemnification shall be provided for any such person with respect to any matter as to which it has been finally adjudicated in any proceeding that his or her acts were not committed in good faith in the reasonable belief that such action was in the best interests of the Corporation or were the result of active and deliberate dishonesty; and further provided that any compromise or settlement payment shall be approved by a majority vote of a quorum of Directors who are not at that time parties to the proceeding. The indemnification provided hereunder shall inure to the benefit of the heirs, executors and administrators of persons entitled to indemnification hereunder. The right of indemnification under this Article shall be in addition to and not exclusive of all other rights to which any person may be entitled. No amendment or repeal of the provisions of this provision which adversely affects the right of an indemnified person under this provision shall apply to such person with respect to those acts or omissions which occurred at any time prior to such amendment or repeal, unless such amendment or repeal was voted by or was made with the written consent of such indemnified person. This provision constitutes a contract between the Corporation and the indemnified officers, directors, and employees. No amendment or repeal of any portion of this provision which adversely affects the right of an indemnified officer, director, or employee under this provision shall apply to such officer, director, or employee with respect to those acts or omissions which occurred at any time prior to such amendment or repeal.
9. Election of Officers. The Board of Directors shall elect for a term of two years a President, Vice President, and Secretary of the Foundation. Officer terms shall supersede term limits of Directors, thus allowing for an officer to complete his or her term of office regardless of total number of years served. Nominations for officers will be made by the Board Development and Governance Committee, and nominations may also be made from the floor. These nominations and elections shall take place at the Annual Meeting as prescribed in these bylaws. Notice of these nominations shall be sent electronically or mailed to the last recorded address of each Director with the notice of the Annual Meeting. The Vice President for University Advancement of the State University of New York at Oneonta shall serve as Executive Director of the Corporation and the Vice President for Finance and Administration of the University shall serve as Treasurer of the Corporation by virtue of their positions. Neither the Executive Director nor the Treasurer shall receive compensation from the Corporation for their services but may be reimbursed for the expenses reasonably incurred by them in performance of their duties. An officer shall have been elected if he or she received a majority vote of the Directors of the Foundation present at the Annual Meeting.
10. Duties of the President. The President of the Foundation Board shall preside at the meetings of the Board of Directors and shall be an Ex-Officio member of all committees and subcommittees. He or she shall also, at the Annual Meeting of the Corporation and at such other times as he or she deems proper, communicate to the Board of Directors suggestions as may in his or her opinion tend to promote the prosperity and welfare of the State University of New York at Oneonta Foundation and increase the effectiveness of the Corporation, and shall perform other duties as are necessary for the office of President.
11. Duties of Vice President. In case of absence or disability of the President to serve, the Vice President of the Foundation Board shall have all of the powers and functions of the President. The Vice President shall perform such other duties as the President and the Board of Directors shall prescribe.
12. Duties of the Secretary. It shall be the duty of the Secretary to assure that a record of the Corporation’s affairs and functions is kept, to notify the Directors and Officers of the Corporation of their election; and to prepare, for approval by the Board of Directors, an annual report of the events, transactions and activities of the Corporation. In the absence of the Secretary, the Board of Directors may appoint a Secretary pro tem.
13. Duties of the Treasurer. The Treasurer of the Foundation Board shall be the Vice President for Finance and Administration of the State University of New York at Oneonta. The Treasurer shall be a member of the Finance Committee and shall be responsible for the fiscal affairs of the Corporation. At the direction of the Board of Directors, the Treasurer shall invest funds upon approval of the Finance Committee, have charge and custody and be responsible for all funds and securities of the Corporation, and deposit all funds in the name of the Foundation. In general, he or she shall perform all the duties pertinent to the office of the Treasurer and duties that from time to time may be assigned by the Board of Directors.
14. Duties of the Executive Director. The Executive Director shall be the Vice President for University Advancement of the State University of New York at Oneonta, and shall be responsible for attending all meetings of the Corporation and its committees and raising funds, such as gifts, grants and bequests, for the purposes of the State University of New York at Oneonta Foundation and in support of the State University of New York at Oneonta. The Executive Director will work closely with the President of the Board of Directors to set Board meeting dates, organize Board and committee meetings, represent the Board as an officer in legal proceedings, conduct all correspondence and execute all orders, votes and resolutions, keep a list of the Directors of the Corporation, and carry out all other administrative and fundraising duties as required. The Executive Director shall be the keeper of the Corporation's seal. In general, he or she shall perform all the duties pertinent to the office of the Executive Director and duties that from time to time may be assigned by the Board of Directors. The Executive Director along with the President of the Board shall review as necessary the attendance and performance of duties of each of the Board members.
15. Election of an Officer to Fill a Vacancy. If a Director shall be removed or shall resign and he or she is serving as an Officer of the Corporation, the Board of Directors shall elect a new Officer to serve the balance of the term. Nominations to fill an Officer vacancy will be made by the Board Development and Governance Committee, and nominations may also be made from the floor.

ARTICLE IV

MEETINGS

1. Meetings of the Board. The meetings of the Board of Directors shall be conducted in accordance with Robert’s Rules of Order. The Board will have regular meetings each year, including the Annual Meeting which shall be held in June. Notice of the Annual Meeting signed by the Secretary shall be sent electronically or mailed to the last recorded address of each Director at least ten days before the time appointed for the meeting. The President may, when he or she deems necessary, or the Secretary shall, at the request in writing of the majority of the members of the Board, issue a call for a special meeting of the Board. At least ten days’ notice shall be required for such special meetings.
2. Attendance at Board Meetings. The Annual Meeting of the Board of Directors shall be held in person unless exceptional circumstances dictate otherwise. The President, in consultation with the Executive Director, shall decide the location of each Board meeting, and will designate each meeting as being in-person attendance, electronic video (such as Teams, WebEx, or Zoom) or hybrid, meaning individuals may attend in person or by electronic video. When technologically feasible, an individual may attend a hybrid Board meeting by telephonic or electronic means, although video or in-person attendance is preferred. When a meeting is designated as in-person, personal attendance is expected, but, if necessary, an individual may attend by video or by telephonic or electronic means if that is technologically feasible. Any Board member who is unable to attend a regularly scheduled Board meeting, or a committee meeting, either in person or via teleconference, should notify the Board President and/or appropriate committee chair as soon as possible.
3. Quorum. The presence of one-half of the combined total of the Directors, Ex-Officio Directors, and Student Directors (not including the Honorary Directors) in a meeting shall constitute a quorum for the transaction of business. In the absence of the President and Vice President, the quorum present may choose a Chairperson for the meeting. In the absence of the Secretary, the Board of Directors may appoint a Secretary pro tem.

ARTICLE V

COMMITTEES

1. Committees. The Board of Directors, by resolution adopted by a majority of the Directors, may designate one or more committees. Each committee shall consist of five or more Directors appointed by the President, except for the Audit Committee, which shall consist of three or more Independent Directors, as interpreted under the New York State Non-Profit Revitalization Act, none of whom shall be Ex-Officio, Honorary or Student Directors, appointed by the President. The committees shall report to the President and the Board of Directors.
2. Subcommittees. The Board of Directors, by resolution adopted by a majority of the Directors, may designate one or more subcommittees. Each subcommittee shall consist of four or more Directors appointed by the President. The subcommittee(s) shall report to the appropriate committee.
3. Terms of Committees and Subcommittees. Following the Annual Meeting and, if possible, by August 1, the President shall appoint the Chair and members of each committee and subcommittee for the ensuing year.
4. Standing Committees.
   1. A. The Executive Committee shall consist of the President, Vice President, Executive Director, Secretary, and Treasurer. The Executive Committee shall handle the affairs of the Corporation between meetings of the Board of Directors.
   2. B. The Finance Committee is responsible for the general oversight of the financial and investment transactions of the Foundation. It is charged to: (1) review the annual budget prior to Board approval; (2) periodically review all Foundation investments, financial practices, investment opportunities, and (3) manage all real or other tangible property on behalf of the Board. The Finance Committee is empowered to make cumulative investment decisions for the Board on a quarterly basis affecting up to 15% of the Foundation’s marketable securities and cash equivalents as of the end of the most recent fiscal quarter. The Finance Committee is required to report all such transactions at the next regular meeting of the Board. The Investment Subcommittee reports to the Finance Committee.
   3. C. The Board Development and Governance Committee shall assist the Foundation Board on matters related to Board membership, Board policies, and the Corporation’s bylaws. This charge shall include identification and consideration of prospective candidates for election to the Board and performance of other duties as determined by the Board President. The Board Development and Governance Committee shall also be responsible for the nomination of officer candidates.
   4. D. The Advancement Committee shall facilitate the fundraising and development programs of the Foundation and perform other duties as determined by the Board President. Its responsibilities will include: (1) soliciting grants and gifts from all constituencies; (2) providing donor recognition, and (3) ensuring stewardship of grants and gifts. The Planned Giving Subcommittee reports to the Advancement Committee.
   5. E. The Audit Committee will review: (1) the Foundation’s critical accounting policies and decisions; (2) the adequacy of the Foundation’s internal control systems, and (3) the accuracy of the Foundation’s financial statements and reports. To ensure the independence of the Foundation’s financial auditors, only Independent Directors may vote on the engagement of the auditor. No Honorary Directors, Ex-Officio Directors or Student Directors may serve on the Audit Committee or vote on the engagement of an auditor. The Audit Committee recommends to the Board, for Board approval, its selected auditor.

ARTICLE VI

DISSOLUTION STATEMENT

1. Dissolution Statement. In the event of dissolution, the assets of the State University of New York at Oneonta Foundation Corporation shall be transferred to the State University of New York at Oneonta Alumni Association or the State University of New York at Oneonta itself, as determined by the Board of Directors of the State University of New York at Oneonta Foundation Corporation, with the original intents and restrictions of the donors in mind.

ARTICLE VII

PARLIMENTARY AUTHORITY

1. Parliamentary Authority. The rules contained in the current edition of Robert’s Rules of Order, shall govern the Corporation in all cases to which they are applicable and to which they are consistent with these bylaws and any special rules of order the Corporation may adopt.

ARTICLE VIII

AMENDMENT OF BYLAWS

1. Amendment of Bylaws. These bylaws may be amended at any regular Board meeting of the Corporation by a two-thirds vote, provided that the amendment has been submitted in writing to the Board members at least ten days in advance.

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Amended and approved by the Board of Directors on 1/26/12.
Amended and approved by the Board of Directors on 6/20/14.
Amended and approved by the Board of Directors on 6/26/15.
Amended and approved by the Board of Directors on 6/24/16.
Amended and approved by the Board of Directors on 4/4/19.
Amended and approved by the Board of Directors on 4/14/23.

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION

GRANT AND GIFT ACCEPTANCE POLICY

The State University of New York at Oneonta Foundation (hereinafter known as “the Foundation”) is a private, nonprofit 501(c) (3) organization whose mission is to raise and administer charitable gifts and grants to enhance the academic status of the State University of New York at Oneonta (the University) through endowment, scholarships, and institutional programs. This policy provides guidance to the Foundation’s Board of Directors and University staff or faculty involved in the planning, solicitation, acceptance, management, and disposition of gifts and grants.

This policy also formalizes current fundraising and development activities taking place through the Division of University Advancement. It is created to encourage and govern private financial support, which will ultimately benefit the University, and to provide safeguards to protect the interests of the Foundation and the University.

Any gift offered to the Foundation which is in question as to whether it falls within this policy shall be referred to the Gift Acceptance Committee, which will determine whether or not to accept the gift. The Gift Acceptance Committee is an ad-hoc committee consisting of the Foundation Board President who will chair the Committee, Executive Director, Treasurer, and two Board members appointed by the Board President.

The policy of the Foundation is to inform, serve, guide, or otherwise assist donors who wish to support the University and Foundation's activities, but never under any circumstances to pressure or unduly persuade. In particular, whenever a gift involving an irrevocable transfer of assets is under consideration, the Foundation will advise donors to seek their own tax and legal counsel and will, in no event, render tax, legal, or financial advice. The Foundation and SUNY Oneonta’s Division of University Advancement shall conduct a due diligence review throughout the fundraising and development activities and the gift acceptance process.

This Grant and Gift Acceptance Policy has been approved by the Foundation Board of Directors, and shall be reviewed by the Foundation Board on an as needed basis and may be amended at any time by a majority vote of the Board.

THE ROLE OF THE FOUNDATION

Gifts to the Foundation on behalf of the University will be accepted for unrestricted use or for any one of the many special funds and programs that have been established. The Foundation may also accept a gift designated for a specific purpose for which no special fund has been established as long as it is within the scope of the University’s mission.

Gifts of cash, equities, real property and tangible property will be accepted, held and managed by the Foundation. In the case of tangible property gifted to the Foundation to be used directly in the educational, athletic, academic, research or administrative programs of the University, the Foundation may then transfer this property to the University for inclusion in the University’s inventory. In the event that real property, tangible property or any other gift is accepted outside
the Foundation, but for the University, (through Gift Acceptance Procedures of the State University of New York, the University, and the Foundation), the office of the Vice President of Finance and Administration will review and process the gift, and the Office of Finance and Administration will inform the Foundation of the donor, the amount, and the nature of the property accepted.

GRANTS

Any faculty or staff members wishing to submit grant proposals to corporations and private foundations will first contact the Grants Development Office and the Manager of Foundation and Corporate Programs to discuss the concept, proposal, and possible funding sources. This is to ensure that proposals are prepared using an appropriate format, will have official campus support, and will prevent instances of multiple requests to the same corporation or foundation. The Grants Development Office will contact the Vice President for University Advancement to determine if contact with selected corporations and private foundations should proceed and for assistance in the development of a solicitation strategy and proposals. Proposals for contracts, research grants and sponsored programs are submitted through the SUNY Research Foundation and managed according to SUNY Research Foundation policies.

OUTRIGHT GIFTS

Cash
Gifts in the form of cash, money orders and checks shall be accepted. Gift transactions of
$5,000 or more will be reported according to IRS guidelines. This is a consistent practice by non-profit organizations. Gift amounts will be credited on the University’s database at face value.

Publicly Traded Securities
Securities traded on various stock exchanges, as well as publicly traded mutual funds, municipal and corporate bonds, treasury bills and notes of any amount may be accepted. It may be anticipated that all securities will be immediately sold and invested according to the Foundation’s financial or investment policies.

The value of a gift of publicly traded securities, and the amount that will be credited on the data base, will be the mean (average) of the high and low of the stock(s) or bond(s) on the day the donor transferred them to the Foundation, multiplied by the number of shares transferred, using IRS procedures for such gifts. For mutual fund shares, the fair market value is determined by the shares’ net asset value on the date the donor transfers the shares to the Foundation.

Donor Advised Funds: A donor-advised fund (DAF) is a giving vehicle established at a public charity. It allows donors to make a charitable contribution, receive an immediate tax deduction and then recommend grants from the fund over time. When the Foundation receives a gift from a DAF, the DAF entity will receive gift credit and a receipt for the donation. The donor to the DAF who was responsible for requesting the grant to the Foundation will receive soft credit. This allows the Foundation to include DAF gifts in individual donor gift totals for recognition and stewardship. A DAF donor may also recommend that a grant will be paid out over multiple years, or be subject to ongoing grant approvals, reporting, and due diligence.

Qualified Charitable Rollover: A donor may wish to make a charitable donation to the Foundation by directing a distribution from their IRA. Under federal tax law, donors may use the IRA charitable rollover to make a qualified charitable distribution (QCD). Donors are advised to consult their tax advisors about these rules and their specific situations and to confirm tax treatment of QCDs under their state and local tax rules. A QCD must be completed by December 31 of the year in which the IRA owner intends to make the QCD. Further, the IRA account must make the distribution directly to the Foundation. This direct distribution can be made either by making a request to the IRA Administrator for a direct electronic transfer or by using a check titled in the name of the IRA.

Closely Held Securities and Limited Partnerships
A market must exist for the security to be accepted. It will not be accepted if a taxable event is created for the Foundation. There can be no restrictions on the security such as length of time it must be held or party to which it must be sold. The security may only be accepted with the approval of the Vice President for University Advancement. The Foundation will not retain any securities of this type that are not consistent with its investment policies.

The value of closely held securities may be determined by the last sale or trade of the security if it occurred recently; in the absence of a recent sale, fair market value should be determined by an acceptable authority. A qualified appraisal is required for gifts with estimated value of
$5,000 or more.

Tangible Personal Property/Gifts-in-Kind
Jewelry, artwork, collections, automobiles, furniture, equipment and other tangible, personal property may only be accepted with the approval of the Vice President for University Advancement. Generally, tangible property, also known as gifts-in-kind, may be accepted if the property can be of use to the Foundation or the University, or if the property is marketable and unencumbered. Note that special IRS rules apply to gifts of artwork, and potential gifts of artwork must be carefully researched to meet the IRS rules regarding these gifts. The value of these gifts must be determined from an appraisal at fair market value obtained by the donor. This value is the amount that will determine the gift credit.

In general, gifts of personal property are acceptable gifts providing that the property has value of $500 or more. Personal property valued at more than $5,000 may only be accepted after a qualified appraisal has been made under the terms of the Internal Revenue Service governing gifts of this type, and this appraisal been provided to the Vice President for University Advancement. The donor must send a copy of this appraisal with their tax return to the IRS substantiating the value claimed as a charitable deduction.

Book collections will be accepted upon additional approval of the Director of Milne Library; the books may or may not be held at the discretion of the Director of Milne Library.

Gifts of tangible property/gifts in kind will be credited on the database at the value the donor provides in the form of invoices or other documentation for gifts under $5,000, or in the form of an appraisal for gifts of $5,000 and above.

No tangible personal property shall be accepted with an obligation to retain ownership of it in perpetuity. In general, no perishable property or property requiring special facilities, daily or hands-on maintenance or security arrangements shall be accepted. Tangible personal property not used by the University or the Foundation shall be promptly sold.

Inventory
In general, gifts of inventory from business and corporations with a value of $1,000 and above to be used directly in the educational, athletic, academic, research or administrative programs of the University may be accepted by the Foundation, with the approval of the Vice President for University Advancement and the benefiting department of the University. The Foundation will inform the Vice President of Finance and Administration of the nature of the property donated and its estimated value. After the Foundation accepts the gift, the Foundation may then transfer this property to the University for inclusion in the University’s inventory.

According to IRS Publication 1771, acknowledgment letters for gifts of this type will include a description of the donated item but not a gift value. Acknowledgment letters will recommend that the donor seek counsel from its professional advisors to determine tax deductibility of the gift. In accordance with accepted practices and CASE guidelines, gift entry of inventory will be valued at fair market value, taking into account the age of the equipment as well as any educational discounts the company may have been willing to offer if the institution had purchased the equipment.

Real Property
The Foundation will give favorable consideration to accepting unencumbered residential, commercial, income producing and farm real estate which it believes to be highly marketable and which has a completed owner’s disclosure statement. Due to the potential risks involved in accepting gifts of real estate, additional steps are required before acceptance of these gifts.

Gifts of real estate will be credited on the data base at the appraised value. If the gift is a bargain sale, as defined by IRS code, the fair market value minus the amount of the mortgage is the gift credit.

Gifts of real estate will be accepted only with the approval of the Vice President for University Advancement in consultation with the Vice President of Finance and Administration and will meet the following conditions:

• The property has a determined market value or utility to the University and its programs;
• A title search and title policy conducted at donor’s expense;
• A marketability review and analysis conducted at Foundation expense;
• An on-site evaluation by the Vice President for University Advancement or his designee;
• An appraisal, paid for by the donor as stipulated by IRS regulations;
• An environmental review of the property prior to six months of the date of the gift to ascertain if it is subject to environmental restrictions or concerns, sanctions, toxic wastes or otherwise encumbered in such a manner as to cause present or future economic liabilities for the Foundation, at donor’s expense;
• Conveyance by warranty deed or director’s deed preferred to Quick Claim deed;
• An approval or opinion from the Foundation’s legal counsel; and
• To limit liability to the Foundation, consideration will be given to establishing a separate trust to accept the real estate gift, with donor as the trustee. The trust would liquidate/sell property.

Extra caution shall be given to real estate encumbered by a mortgage; ownership of such property may give rise to unrelated business income for the Foundation unless handled in the proper manner.

DEFERRED or PLANNED GIFTS

Bequests
Gifts through wills (bequests), revocable living trusts, or any other trust instrument are actively encouraged. Intended bequests of property other than cash or marketable securities should be brought to the attention of the Foundation so the donor can be advised how to conform his or her plans to the Foundation’s policies and guidelines. The Foundation encourages the language of the will be reviewed by Foundation staff to assure the conditions may be met by the University and the Foundation. Bequests can be either restricted to a specific purpose, or unrestricted. Bequests can be:

• Fixed amount (specific dollar amount, piece of property, percentage of estate);
• Residual bequest (Foundation receives payment after distribution of specific bequests and payment of estate expenses);
• Contingent bequest (Foundation receives a distribution under specific circumstances); or Testamentary trust (provides for both the Foundation and other beneficiaries).

Sample bequest language for restricted and unrestricted gifts, including endowments, will be made available to donors and their attorneys to ensure that the bequest is properly designated. Each bequest donor will also be requested to provide a confidential copy of that section of his or her will naming the Foundation as a beneficiary.

The Executive Director is authorized to accept bequests on behalf of the Foundation, except bequests of property that entail potential expense, liability, or inconvenience on the part of the Foundation or bequests subject to restrictions with which it may be difficult for the Foundation to comply. These bequests shall require approval of the Gift Acceptance Committee.

If the Foundation is not able to meet conditions specified by the donor’s will, the Foundation may choose not to accept the gift.

Charitable Gift Annuities
The Foundation is authorized to issue charitable gift annuities--immediate and deferred--and invest assets contributed for annuities. The Foundation may employ agents and/or advisors to facilitate the management and investment of these assets, as well as the administration of the Foundation’s gift annuity program.

The minimum amount for a gift annuity is $10,000.

The annuity rates payable to annuitants shall be approved by the Board and shall be subject to periodic review. Ordinarily, the rates shall be those suggested from time to time by the American Council on Gift Annuities. In any given instance, however, a donor may agree to
payment of a rate lower than the rate offered by the Foundation, provided the Foundation complies with applicable state law in offering the lower rate.

Annuities shall be a maximum of two lives. Annuities may be issued on a single life or on two lives; two-life annuities may make payments either on a joint-and-survivor basis or on a successive-interests basis.

Deferred annuities may be started when the annuitants are at least 55 years old, but the minimum age for annuitants at the time annuity payments commence shall be 65 for both immediate and deferred annuities.

Payments to annuitants shall typically be made quarterly at the end of each calendar quarter, although exceptions may be made subject to the prior approval of the Gift Acceptance Committee.

Notwithstanding the foregoing guidelines, the Foundation’s gift annuity program shall be conducted pursuant to all applicable resolutions adopted by the Board. Gift annuities over $250,000 must be approved by the Gift Acceptance Committee.

Charitable Remainder Trusts
A charitable remainder trust is a vehicle which provides an income stream to the donor and/or beneficiary(s) for life or a period of years not to exceed 20 years. At the end of the Trust’s term, the Foundation receives all remaining assets of the trust. The Foundation recommends that the beneficiaries be at least 65 years of age unless the trust is for a term of years.

There are two types of charitable remainder trusts. A charitable remainder unitrust pays beneficiaries a percentage of trust assets, not less than 5%; payments are variable from year to year. The recommended minimum gift to establish a charitable remainder trust is $200,000. The donor chooses the trustee or co-directors for the trust. The Foundation will not serve as sole trustee of a unitrust which benefits the institution. If the trust is funded with property, the donor must provide a qualified appraisal of the property within six weeks prior to the gift. Management fees of the unitrust will not be paid by the Foundation unless approved by the Vice President for University Advancement.

A charitable remainder annuity trust pays beneficiary(s) fixed payments for the life of the trust, based on a percentage of the initial fair market value of the trust. The minimum recommended gift is $200,000; no additional money can be added. The donor chooses the trustee or co- directors for the trust. The Foundation will not serve as sole trustee of an annuity trust which benefits the institution. Management fees of the annuity trust will not be paid by the Foundation unless approved by the Vice President for University Advancement.

The amount for gift credit purposes of trusts will be the actuarial value of the Foundation’s remainder interest.

Life Insurance
Life insurance is an asset class with unique characteristics, requiring careful consideration when offered as a gift.

Gifts Using Beneficiary Designations: Donors and supporters of the Foundation will be encouraged to designate the Foundation as the beneficiary or contingent beneficiary of their existing life insurance policies on which the donors retain ownership.

Gifts of Policies with a Cash Value: Life insurance policies with a cash value can be either fully paid or continue to have premiums due, with different gift acceptance rules applying to each. As a general rule, in order for a donor to claim an income tax charitable deduction for a life insurance gift, the donor must obtain a qualified appraisal of the property, which is separate from the cash surrender value provided by the insurer.

• Paid-Up Policies: The Foundation will give favorable consideration to accepting paid-up life insurance policies with a cash surrender value (typically whole life and universal life policies), on which the Foundation is named as the beneficiary and owner. Upon receiving a paid-up policy, the Foundation, as owner, can surrender it and obtain the cash value or keep the policy until the death of the insured, at the discretion of the Foundation.
• Policies on Which Premiums Remain Due: The Gift Acceptance Committee will review all offered life insurance policies with a cash value on which premiums remain due (typically whole life and universal policies). The Gift Acceptance Committee shall consider the following options and decide upon one prior to formally accepting any such policy:
  • Continue to Make Premium Payments – Retaining the policy and investing in it needs to make economic sense for the Foundation based upon the entire facts and circumstances of the donor, the policy, and the Foundation, including whether the Foundation can afford the premium payments. Typically other options will have more economic benefit for the Foundation;
    • In the event the Foundation accepts the policy with the intention of continuing premiums, it shall request that the donor sign a binding gift agreement to make gifts to the Foundation each year in an amount equal to the premiums due for the life of the policy. In the event the donor will not sign such an agreement or fails to make a payment in one or more years, the Foundation reserves the right to convert the policy to a paid-up policy or surrender the policy for its cash value;
    • Once the policy is accepted, it will be reviewed annually to determine whether it is best to continue to pay the premiums, convert the policy to a paid-up policy, surrender the policy for its cash value, or change the underlying investment structure (to allow the policy to be self- preserving).
  • Convert the Policy to a Paid-Up Policy – Conversion will reduce the face value of the policy, but will capture the cash value of the policy on its date of gift; or
  • Surrender the Policy for its Cash Value – Surrender the policy for its cash value, which may be substantially less than its face value, particularly if there are loans against the policy at the time of gift.

The amount for gift credit purposes of gifts of life insurance will be recorded and reported at cash surrender value rather than face value of the policy, in accordance with CASE/NACUBO guidelines.

Gifts of Policies with No Cash Surrender Value: The Foundation will NOT accept ownership of life insurance policies with no cash surrender value (typically term insurance), on which the Foundation is named as the beneficiary and must continue to make payments, even if the donor agrees to continue to make gifts equal to the amount of premium payments.

Gifts of Cash or Other Assets to Purchase New Life Insurance on a Donor: The Foundation will not accept gifts of cash or other assets from a donor for the purpose of purchasing life insurance on the donor’s life. Donors may elect to purchase a new policy, naming the Foundation as owner and beneficiary at the time of purchase. In such cases, no qualified appraisal is required. However, if a donor purchases a policy in his/her own name and then transfers ownership to the Foundation, a qualified appraisal will be required.

Retirement Plan Assets
Donors may name the Foundation as a beneficiary for all or a portion of the benefits of retirement plans. The Foundation will accept these assets as either cash or securities. If a gift of retirement plan assets flow through a will, and the Foundation is not able to meet conditions specified by the donor’s will, the Foundation shall not accept this gift.

The amount for gift credit purposes of gifts of retirement plan assets shall be the face value or actual amount received by the Foundation.

NAMING OPPORTUNITIES

See policy on the Foundation’s Policy on Naming Opportunities as approved by the Board of Directors on June 25, 2010 and aligned with the SUNY Board of Trustees policy and procedure on naming opportunities.

GUIDELINES ON UNACCEPTABLE GRANTS AND GIFTS

The Foundation reserves the right to refuse any grant or gift that is not consistent with its mission. The Foundation shall seek the advice of legal counsel in matters relating to acceptance of gifts when appropriate. Grants and gifts will not be accepted by the Foundation which, under due diligence review, are determined that:

• violate any federal, state or local statute or ordinance;
• create a fund to provide for scholarships, lectureships or any other purposes with restrictive clauses that could cause embarrassment to the University, the Foundation, or that reserve to the donor or his/her representative the right to designate the recipient;
• require any action on the part of the Foundation which is unacceptable to the Board of Directors;
• commit the Foundation to name a faculty position, campus program or endowment fund that is revocable in any way by the donor;
• require or stipulate to the Foundation the future employment of any specified person;
• contain unreasonable conditions (i.e., a lien or other encumbrance) on gifts of partial interest and property;
• are intended to be tuition payments for a family member of the donor or another person;
• are financially unsound, could cause reputational risk, or expose the Foundation or University to liability; or
• are, for any reason, a grant or gift that the Board deems as unacceptable.

Adopted by the Board of Directors on 4/10/03.
Amended and approved by the Board of Directors on 1/25/07.
Amended and approved by the Board of Directors on 6/25/10.
Amended and approved by the Board of Directors on 4/20/12.
Amended and approved by the Board of Directors on 4/13/18.
Amended and approved by the Board of Directors on 1/22/21.
Amended and approved by the Board of Directors on 10/20/23.

STATE UNIVERSITY AT ONEONTA FOUNDATION CORPORATION

POLICY ON NAMING OPPORTUNITIES

INTRODUCTION

The State University of New York at Oneonta Foundation Corp oration (hereafter known as “Foundation”) mission is to raise and administer gifts and grants to enhance the academic status of the State University of New York at Oneonta (hereafter known as SUNY Oneonta) through endowment, scholarships, and institutional programs. To support this mission, the Foundation may recognize gifts and irrevocable gift commitments by the naming of facilities, physical spaces, academic programs, scholarships, endowed or annual funds or other opportunities, in a manner consistent with the guidelines set forth in this document and the State University of New York (SUNY) Naming Opportunities Policy and Procedure (March 23, 2010).

The opportunity to place the name of an individual, family, corporation, or other entity on facilities, physical spaces, academic programs, scholarships, and endowed or annual funds will be made in recognition for gifts from a donor or group of donors. The Foundation and SUNY Oneonta’s Division of University Advancement shall conduct a due diligence review throughout the gift acceptance and naming process. To the extent that any provision of this policy is deemed to be in conflict with a provision of the State University of New York Naming Opportunities Policy and Procedure (March 23, 2010) the policy of the State University of New York shall be the controlling policy.

General principles are:

• The naming of any facility, campus space or grounds, academic or campus program area or endowed funds are only appropriate when a significant gift or grant or gift commitment as determined by the Division of University Advancement is received.
• The merits of naming any facility, campus space or grounds, academic or campus program areas or endowed funds should be consistent with the university ’s values and mission and be able to stand the test of time.
• The naming of any facility, campus space or grounds, academic or campus program areas or endowed funds in recognition of a donor or honoree implies a promise to that donor or honoree that the space, site, facility, endowment fund and other form of tangible recognition will be permanently maintained, or if change is unavoidable, that an alternative means of recognizing the donor or honoree will be found.

TYPES OF GIFTS FOR NAMING COMMITMENTS

Any and all combinations of gifts, grants, pledges, and irrevocable gift arrangements are acceptable for naming commitments. The Foundation and SUNY Oneonta’s Division of University Advancement shall conduct a due diligence review throughout the gift acceptance
and naming process.

GUIDELINES FOR NAMING PHYSICAL FACILITIES

Since the naming of buildings, campus grounds, rooms, or other campus facilities has a long term impact on the university , these areas generally will not be named for individuals currently employed by the SUNY System, the State of New York, SUNY Research Foundation, or an auxiliary corporation of the university , unless a donor(s) other than the honoree provides a sufficient gift in honor of that individual.

Naming of a particular building, wing, room, lecture hall or other space or facility may vary depending on many factors including utility, visibility, size, location, original building cost, etc. associated with the particular space.

GUIDELINES FOR NAMING ENDOWED AND NON ENDOWED FUNDS

Endowed and non endowed restricted and unrestricted use funds may be created as a result of significant gifts, grants or gift commitments of a single donor or group of donors. These restricted and unrestricted use funds may be initiated to create endowed and non endowed funds for such things as; named scholarships, internships, lectureships, professorships, or department specific funds. For future planning and to maximize benefit to the university and its students, when possible, creation of an endowed fun d is preferred to that of a non endowed fund.

General principles are:

• The minimum needed to establish a named endowed fund is $25,000. This minimum pertains to all endowed funds including scholarships and non scholarship funds. The timeframe for which a donor has to reach the minimum $25,000 endowment level threshold is generally five years from the date of the first gift. [Funds established before July 1, 2000 that were endowed at a lower minimum total dollar value will continue to be treated as fully endowed funds.]
• Non-endowed funds may be established for scholarships or any other campus priorities, such as faculty development or student travel funds. Under such arrangements, the donor commits to providing an annual gift equivalent to the income from an endowment fund for a fixed period of time, at a minimum of three to five years. For example, an endowed fund of $25,000 provides a $1,250 (5% of principal) annual award.

GUIDELINES FOR NAMING PROGRAMS

To name a School, Department or Program, the gift or gift commitment will be developed on a case by case basis by the Vice President for University Advancement, the Foundation Board of Directors, and the President of SUNY Oneonta, and utilizing the SUNY Naming Guidelines.

APPROVAL PROCESS FOR NAMING OF FACILITIES, ENDOWED FUNDS OR PROGRAMS

All permanently named facilities and programs should be reviewed and approved by the Vice President for University Advancement/Executive Director of the Foundation, the Foundation Board of Directors, the University Council, and the President of SUNY Oneonta. Further, where appropriate (e.g. gifts/grants of $1 million or more for naming consideration) the approval of the University Council, Chancellor, and SUNY Board of Trustees, must be sought consistent with the State University of New York Naming Opportunities Policy and Procedure (March 23, 2010) Page 4, Section B. Procedure.

The Vice President for University Advancement/Executive Director of the Foundation has the authority to review and approve the naming of endowed and non endowed support funds (unrelated to buildings and campus spaces), such as scholarships, lectureships, and other restricted funds with values up to $1 million.

The following general principles shall be adhered to in the naming process:

• The Foundation and SUNY Oneonta’s Division of University Advancement shall conduct a due diligence review throughout the gift acceptance and naming process.
• All proposed names for buildings and other facilities should be held in strict confidence during the review and approval process. Internal and external communication regarding proposed naming before appropriate approval has been granted will be the responsibility of the Vice President for University Advancement/Executive Director of the Foundation. Discretion is paramount.
• The Division of University Advancement shall be responsible for maintaining a record of named rooms, buildings, grounds, and other spaces in addition to endowed funds.
• Unforeseen circumstances may make it impossible for a donor to complete a pledge commitment after the commitment has been recognized through a naming. The Division of University Advancement will make every reasonable effort to work with the donor to create a plan for completion of the commitment. However in some circumstances it may be necessary to remove a name from a facility, physical space, academic program, scholarship, or fund, due to incompletion of a pledge.
• In the extraordinary situation where circumstances relating to the recognition change, the Foundation Board of Directors reserves the right to change or remove the name from any existing named space or recognition opportunity . The Vice President for University Advancement/Executive Director of the Foundation, Foundation Board of Directors and President of SUNY Oneonta will consult with all appropriate parties who, at their discretion, they believe need to be involved with such a decision.

Adopted by the Board of Directors on June 25, 2010.
Amended and approved by the Board of Directors on October 16, 2020.
Amended and approved by the Board of Directors on October 20, 2023.

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION, INC.

NAME OF SCHOLARSHIP HERE CAN BE IN HONOR OR IN MEMORY OF AN INDIVIDUAL OR INDIVIDUALS

An endowed scholarship created through the gifts of NAME OF DONOR(S) in honor or in memory of NAME(S) HERE . NAME OF DONOR(S) has made an outright gift to support the State University of New York at Oneonta Foundation Corp. [hereafter known as “Foundation] Foundation]. This scholarship will become endowed when it reaches a principal amount of at least $25,000.

Investment and Awards Guidelines
This scholarship fund will be invested with the pooled investment funds of the Foundation as managed by its Board of Directors consistent with its financial policies. Annual spending limits are established by the Foundation Board of Directors after consideration of a series of prudent factors outlined in the Foundation’s Investment Policy Statement, which are required by New York State law. Gifts to permanent endowment funds of the Foundation are governed by the New York Prudent Management of Institutional Funds Act (NYPMIFA) which allows limited spending of principal. Endowed funds are prudently managed by the Foundation Board of Directors with the goal to maintain and grow these funds. A copy of the Foundation’s Investment Policy Statement and NYPMIFA are available upon request.

The President of the university or the President’s designee, in this instance the Director of Financial Aid, will award this scholarship in a manner which is consistent with these guidelines and the financial aid policies of the university . If the scholarship fund does not become endowed within five years, or if the funded amount is a fixed amount that is less than the amount necessary for an endowed scholarship, the President or her designate may award one or more scholarships from the principal consistent where possible with the original intent of the donor(s).

This award will be made to either full time or part time undergraduate students (FOR EXAMPLE: A STUDENT MAJORING IN ELEMENTARY EDUCATION, BUT IT IS NOT NECESSARY TO NAME AN ACADEMIC MAJOR) MAJOR). This scholarship can be renewed annually, contingent upon the Awards Guidelines continuing to be met, and at the discretion of the President or the President’s designee indicated above.

Additions to the Scholarship
Additions may be made to the principal by the donor or others through ongoing, lifetime gifts or by planned gifts such as bequests, trusts or retirement plans.

Meeting the Donors Intent Where Circumstances Change
Should it become impossible to award this fund for four consecutive years in the manner described above, the Board of Directors of the Foundation, Inc. shall be empowered to use these funds, for one or more scholarships keeping in mind the original intent of the donor(s).

Donor or for the Donor(s) ___________________________________________________________

Date Accepted ___________________________________________________________________

Paul J. Adamo, Executive Director, State University of New York at Oneonta Foundation Corporation

Amended and approved by the Board of Directors 10/22/2010
Amended and approved by the Board of Directors 10/16/2020.
Amended and approved by the Board of Directors 10/20/2023.

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION, INC.

NAME OF SCHOLARSHIP HERE– CAN BE IN HONOR OR IN MEMORY OF AN INDIVIDUAL OR INDIVIDUALS

An endowed scholarship created through the gifts of NAME OF DONOR(S) in honor or in memory of NAME(S) HERE HERE. NAME OF DONOR(S) has made a provision through her/their estate plan to support the State University of New York at Oneonta Foundation Corp. [hereafter known as “Foundation] with a bequest or other planned gift to endow a scholarship. This scholarship will become endowed when it reaches a principal amount of at least $25,000.

Investment and Awards Guidelines
This scholarship fund will be invested with the pooled investment funds of the Foundation as managed by its Board of Directors consistent with its financial policies. Annual spending limits are established by the Foundation Board of Directors after consideration of a series of prudent factors outlined in the Foundation’s Investment Policy Statement, which are required by New York State law. Gifts to permanent endowment funds of the Foundation are governed by the New York Prudent Management of Institutional Funds Act (NYPMIFA) which allows limited spending of principal. Endowed funds are prudently managed by the Foundation Board of Directors with the goal to maintain and grow these funds. A copy of the Foundation’s Investment Policy Statement and NYPMIFA are available upon request.

The President of the university or the President’s designee, in this instance the Director of Financial Aid, will award this scholarship in a manner which is consistent with these guidelines and the financial aid policies of the university. If the funded amount is a fixed amount that is less than the amount necessary for an endowed scholarship, the President or the President’s designee may award one or more scholarships from the principal consistent where possible with the original intent of the donor(s).

This award will be made to either full full-time or part part-time undergraduate students (FOR EXAMPLE: A STUDENT MAJORING IN ELEMENTARY EDUCATION, BUT IT IS NOT NECESSARY TO NAME AN ACADEMIC MAJOR) MAJOR). This scholarship can be renewed annually, contingent upon the Awards Guidelines continuing to be met, and at the discretion of the President or the President’s designee indicated above.

Additions to the Scholarship
Additions may be made to the principal by the donor or others through ongoing, lifetime gifts or by planned gifts such as bequests, trusts or retirement plans.

Meeting the Donor’s Intent Where Circumstances Change
Should it become impossible to award this fund for four consecutive years in the manner described above, the Board of Directors of the State University of New York at Oneonta Foundation, Inc. shall be empowered to use these funds, for one or more scholarships keeping in mind the original intent of the donor(s).

Donor or for the Donor(s) ___________________________________________________________

Date Accepted ___________________________________________________________________

Paul J. Adamo, Executive Director, State University of New York at Oneonta Foundation Corporation

Amended and approved by the Board of Directors 10/22/2010.
Amended and approved by the Board of Directors 10/16/2020.
Amended and approved by the Board of Directors 10/20/2023.

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION

INVESTMENT POLICY STATEMENT

PURPOSE

The purpose of this document is to provide a clear understanding of the investment policy, guidelines, and objectives for the total portfolio of the State University at Oneonta Foundation Corporation (hereinafter known as the “Foundation”). This document provides a governing basis for the management and disposition of assets (including cash and non-cash items) held as investments by the Foundation.

The following guidelines have been set forth to give the Investment Subcommittee, and any asset managers who may be engaged in managing the Foundation’s assets, an overview of the general investment philosophy and orientation of the directors responsible for the assets, and to provide prospective donors information about the investment of assets in the Foundation’s care. The intent is to give broad direction allowing for the flexibility necessary for the asset managers to successfully implement their investment strategy.

To ensure the effective investment of Foundation resources and to carry out its fiduciary responsibility, the Foundation Board, upon recommendation of its Finance Committee, hereby adopts the following principles and objectives to guide investment practices.

The Foundation Board delegates to the Finance Committee the responsibility for implementing these guidelines.

ORGANIZATION

The mission of the Foundation is to raise and administer gifts and grants to enhance the academic status of the University through endowment, scholarships and institutional programs. The Foundation serves as manager and administrator of its charitable assets for the State University of New York at Oneonta and distributes authorized funds derived from the Foundation’s assets.

The Foundation is organized in accordance with section 501(c)(3) of the Internal Revenue Service code and is, therefore, exempt from New York State and local sales taxes and Federal and State income taxes.

INVESTMENT OBJECTIVES

The Foundation assets are to be invested with the objective of preserving their long-term, real purchasing power while providing a relatively predictable and increasing stream of annual distributions to be expended in accordance with the desires of the various donors of the assets.

Achieving these objectives demands that the Foundation assume prudent levels of risk, a long-term investment horizon, and a consistent diversified asset allocation plan.

The Foundation shall act prudently to control investment risks as follows:

• Manage the assets to achieve acceptable levels of volatility;
• Protect the assets from long-term asset erosion and promote stable growth;
• Work to fulfill the objectives of donors who expect conscientious stewardship of gifts;
• Follow a system of asset allocation to moderate risks and enhance investment returns;
• Establish and maintain a long-term and consistent strategy; and
• Maintain procedures to allow timely decisions on investments, with full disclosure and accountability to the Board. The Foundation’s bylaws direct the Finance Committee in consultation with the Treasurer to make cumulative investment decisions that on a quarterly basis do not exceed15% of the valuation of the Foundation’s marketable securities and cash equivalents as of the end of the most recent fiscal quarter. Cumulative investment decisions shall be calculated by taking the lesser of new purchases or sales and dividing by the valuation of the Foundation’s marketable securities and cash equivalents as of the end of the most recent fiscal quarter. If cumulative investment decisions are proposed that exceed 15% of the valuation of the Foundation marketable securities and cash equivalents, this proposal shall come before the Board of Directors for discussion and approval.

ANNUAL SPENDING RATE

The Foundation’s spending rate is the rate at which funds shall be expended to support the annual operating, endowed and program budgets. It is designed to project a consistent source of funding while adhering to New York State law and the New York Prudent Management of Institutional Funds Act of September 17, 2010 (NYPMIFA).

The Treasurer and Executive Director shall recommend to the Finance Committee the rate* of spending for all Foundation endowment funds and similar restricted funds on an annual basis as part of the overall budget preparation. The Finance Committee will review the spending rate annually and recommend changes in the spending rate. The Board will review and approve the spending rate each year.

To facilitate budget preparation, the annual spending rate should not change substantially from one year to the next and will normally be applied to a 20 (twenty)-quarter average of the investment pool balance in each individual fund. To the extent possible, spending should not exceed total return (investment earnings plus capital appreciation) less an allowance for inflation as recorded within the Consumer Price Index. Every effort will be made to avoid spending from endowed funds which have market values below the Historic Gift Value. (Historic Gift Value is defined as the fair market value of the gift at the time it was made, the fair market value of any later gifts to the same endowment fund, and any additions of endowment fund appreciation to the HGV that the donor directs the Foundation to make at the time the endowment is established.)

In accordance with NYPMIFA, the standards of conduct in managing and investing institutional funds shall be “in good faith and with the care of an ordinary prudent person in a like position would exercise under similar circumstances.” Factors that must be considered, if relevant, in deciding whether to appropriate from an endowment fund are:

• duration and preservation of the endowment fund;
• purposes of the institution and the endowment fund;
• general economic conditions;
• possible effect of inflation or deflation;
• expected total return from income and the appreciation of investments;
• other resources of the Foundation;
• where appropriate and circumstance would otherwise warrant, alternatives to expenditure of the endowment fund, giving due consideration to the effect that such alternatives may have on the Foundation; and
• the Investment policy of the Foundation.

In addition, the Foundation must preserve a record of the consideration of factors and decisions made as to the appropriation or accumulation of the funds. To be considered prudent, the Foundation should not appropriate more than 7% of the fund’s fair market value per year.

FUNDING OF WITHDRAWALS/DISTRIBUTIONS FROM THE INVESTMENT POOL

The Foundation’s annual budgets require periodic withdrawals for scholarships, programs and expenses. The Finance Committee and any investment managers it employs will be made aware of these requirements and will be responsible for employing a strategy to meet these needs. The Foundation anticipates that the funds needed will typically be provided from cash held in the Foundation checking account. The Foundation checking account is not part of the Investment Portfolio. Withdrawals are expected to be made as needed, in accordance with the annual budget as authorized by the Board.

ASSET ALLOCATION GUIDELINES

The Foundation Board has established the following asset allocation guidelines to achieve investment diversification.

In the traditional asset categories, Cash, Fixed Income and Equities, any deviation of 5% or more of the total portfolio beyond these limits in any asset category requires rebalancing the portfolio accordingly. If an asset class reaches the point where it is 5% higher or lower on an absolute basis than the model dictates, the asset class will be brought at least halfway back to its target.

Holdings in the Alternative investment category are less liquid than traditional assets and any deviation of 7.5% or more will require the Investment Subcommittee to meet and review the Alternative holdings, their liquidity and determine the appropriate action to take.

The Investment Subcommittee will review the asset allocation on at least a quarterly basis. If rebalancing is necessary, it should be accomplished during the following quarter. New monies coming into the portfolio will be used to achieve the rebalancing as much as possible.

1. Cash and Equivalents
   Cash, excluding cash held by mutual funds, received as investment income and/or realized investment gains or losses shall be reallocated to Fixed Income, Equities, and/or Alternatives in a manner that maintains the proper Asset Allocation target for each asset type.
2. Fixed Income
   The Foundation’s fixed income Fixed portfolio will be comprised of fixed income mutual funds or Exchange Traded Funds and investment grade individual fixed income securities. Fixed income mutual funds and Exchange Traded Funds will hold 75% or more in investment grade securities at the time of purchase. Investment grade is defined as BBB- or better by Standard & Poor’s and Baa3 or better by Moody’s.
3. Equities
   The portfolio may hold securities that are publicly traded on U.S. exchanges including equity mutual funds, common stocks, Exchange Traded Funds and securities convertible into common stocks. Equity investments shall be selected from a preference for high quality mutual funds that have achieved a solid long-term performance record and are focused on long-term investment. Qualitative and quantitative analysis of risk factors is performed and reviewed to reduce portfolio risk. Equity investments in any single issue, one common stock, shall not exceed (7%)of the equity portfolio at market value. The Foundation will conduct periodic reviews of the mutual fund portfolios to evaluate the common stocks held by the funds to avoid concentration in any one common stock
4. Alternatives
   The portfolio's allocation to alternative investments may include, but is not limited to, investments in hedge funds, private equity, venture capital, real estate, and commodities.

FOUNDATION INVESTMENT POOL ASSET ALLOCATION MODEL

GENERAL ALLOCATION	Cash & Cash Equivalents	Fixed Income	Equities	Alternatives
General Allocation	0%	20%	60%	20%

FOUNDATION INVESTMENT POOL ASSET ALLOCATION MODEL Continued

EQUITIES CATEGORIES	Fixed Income	Equities	Alternatives
Equities Total	60%
US Equities	35%
Large Cap		27%	9% Growth 9% Blend 9% Value
Mid and Small Cap		8%
International	25%
Developed Markets		20%
Emerging Markets		5%

STUDENT MANAGED INVESTMENT POOL

The monies in the Student Managed Investment Pool will be managed and invested by students in the Portfolio Management course. It is expected that the Director of Foundation Investment Management in the Foundation Finance Office will monitor the investments during periods when students are not present to respond to changing market conditions. Any investment recommendations are approved by the Foundation’s Investment Subcommittee prior to execution.

STUDENT MANAGED INVESTMENT POOL ASSET ALLOCATION MODEL

	Cash & Cash Equivalents	Fixed Income	Equities	Alternatives
GENERAL ALLOCATION	5%	25%	65%	5%

The Foundation may receive and hold other asset types which will be reviewed prior to any action.

PORTFOLIO RETURN OBJECTIVES

The Foundation’s minimum compound annual total return objective for the total portfolio is an absolute return, net of all investment expenses and fees, measured as the Consumer Price Index (CPI) plus a minimum of the annual spending rate established by the Board including Foundation administrative expense. Returns will be measured over a one-, three-, five- and ten-year period.

EVALUATION AND PERFORMANCE CRITERIA

The Investment Subcommittee shall annually review the rate of return performance of the Foundation’s investment holdings against applicable market benchmarks and the Foundation’s performance goals. The Investment Subcommittee shall report in writing its findings to the Finance Committee, which, in turn, shall report the Subcommittee’s findings to the Foundation Board at the Board’s next regularly scheduled meeting.

The Investment Subcommittee, investment managers and consultants will be evaluated using both absolute and relative criteria. Two or more of the following relative performance benchmarks will be used to evaluate overall performance in each area of portfolio allocation. Manager comments on which is the most appropriate index to use in measuring the manager’s performance are welcome. Comparisons will be made at least semi-annually.

Performance Considerations will include:

1. Expected Inflation Adjusted Total Annual Return of at least 4% for equities and 2%for fixed income over a five-year period.
2. Expected total return compared to the market to equal or exceed an applicable equity or fixed income index.
3. Rank in the top half of similar “style” equity and fixed income managers in a database in terms of five-year, ten-year, and ‘Since Inception’ returns.

PERFORMANCE BENCHMARKS

Equities:

1. Composite equity performance index calculated using indices weighted the same as the respective holdings in the equity portfolio. B. Managers with a similar investment style.

Fixed income:

1. An industry recognized fixed income performance index of issues with maturity and quality similar to the fixed income portfolio managers with similar investment style.

Alternatives:

1. An industry recognized index (or indices) of similar holdings.

Inflation:

1. Consumer Price Index (CPI)
2. Higher Education Price Index (HEPI)

Total Investment Portfolio:

1. NACUBO Study of Endowments

Below are the market indices selected for each component of the Asset Allocation Model. These market indices are used to create the composite index return against which the total Investment Portfolio is compared.

The Foundation Board may employ a professional investment advisor or consultant to perform ongoing independent investment and/or performance analysis.

PROHIBITED TRANSACTIONS

Investment activities in the following are prohibited unless a fund or asset manager employs such techniques:

• Margin purchases
• Foreign issues, unless traded on U.S. Exchanges or markets
• Commodity trading, including future contracts
• Short selling
• Option Trading
• Limited Partnerships
• Private placements
• Acquiring securities of companies that have filed for Chapter 11 protection
• Fixed income securities with a maturity greater than 30 years
• Fixed income or interest rate futures

COMMUNICATION AND REVIEW

Monthly: Monthly statements of activity are to be forwarded to the Foundation and investment advisor.

Annually: The Finance Committee shall provide an annual portfolio presentation to the Foundation Board which will include reports of portfolio status, time-weighted returns in accordance with association for investment management and research performance measurement standards, performance comparisons to appropriate benchmarks, economic outlook, investment strategy and other related matters which would be of interest to the Foundation Board.

Ongoing: Ongoing communication by phone, letter or personal consultation will be required as deemed necessary by the investment advisor and/or the Finance Committee.

The Foundation Board places great trust in and emphasis on the investment strategy employed by the Foundation’s Finance Committee, Investment Subcommittee, and investment managers. Any material changes to or deviations from the Investment Subcommittee’s or the manager’s approach must be communicated and justified to the Finance Committee. The Finance Committee requires the managers to communicate any significant changes in management or investment personnel immediately. The Finance Committee will report to the Foundation Board any material changes or deviations as described in the preceding sentences at the next Board meeting or sooner.

Contact
Name: SUNY Oneonta Foundation Corporation
Organization Address: 308 Netzer Administration Building, Oneonta, NY 13820

Contact Office: Treasurer, SUNY Oneonta Foundation Corporation
Telephone: 607-436-2081

Contact Office: Director of Foundation Investment Management
Telephone: 607-436-3165

PLAN REVIEW

The Finance Committee is responsible for reviewing these guidelines at least annually to assure that they remain valid and relevant. Any recommendations as to changes should be submitted to the Finance Committee in care of the Foundation in writing. Proposed changes shall be reviewed by the Foundation Board at the Board’s next regularly scheduled meeting.

Adopted by the Board of Directors 4/10/03.
Amended and approved by the Board of Directors 6/19/03.
Amended and approved by the Board of Directors 10/13/05.
Amended and approved by the Board of Directors 10/17/08.
Amended and approved by the Board of Directors 10/14/11.
Amended and approved by the Board of Directors 6/22/12.
Amended and approved by the Board of Directors 4/11/14.
Amended and approved by the Board of Directors 4/10/15.
Amended and approved by the Board of Directors 10/22/15.
Amended and approved by the Board of Directors 10/20/16.
Amended and approved by the Board of Directors 1/19/18.
Amended and approved by the Board of Directors 4/2/20.
Amended and approved by the Board of Directors 6/18/21.
Amended and approved by the Board of Directors 1/21/22.

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION
INVESTMENT POLICY STATEMENT FOR GIFT ANNUITIES

PURPOSE

The purpose of this document is to provide a clear understanding of the investment policy, guidelines, and objectives for the total portfolio of the State University of New York at Oneonta Foundation Corporation (hereinafter known as the “Foundation”) Gift Annuity Program (the Gift Annuity Program). This document provides a governing basis for the management and disposition of assets (including cash and non-cash items) held as investments by the Gift Annuity Program.

The following guidelines have been set forth to give the Investment Sub-committee, and any asset managers who may be engaged in managing the Gift Annuity Program’s assets, an overview of the general investment philosophy and orientation of the Foundation’s Board of Directors and to provide prospective donors information about the investment of assets in the Foundation’s care. The intent is to give broad direction allowing for the flexibility necessary for the asset managers to successfully implement their investment strategy.

To ensure the effective investment of Foundation resources and to carry out its fiduciary responsibility, the Foundation Board, upon recommendation of its Finance Committee, hereby adopts the following principles and objectives to guide investment practices.

The Foundation Board delegates to the Finance Committee the responsibility for implementing these guidelines.

ORGANIZATION

The mission of the Foundation is to raise and administer gifts and grants to enhance the academic status of the University through endowment, scholarships, and institutional programs. The Foundation serves as manager and administrator of its charitable assets for the State University of New York at Oneonta and distributes authorized funds derived from the Foundation’s assets.

The Foundation is organized in accordance with section 501(c) (3) of the Internal Revenue Service code and is, therefore, exempt from New York State and local sales taxes and Federal and State income taxes.

INVESTMENT OBJECTIVES

Gift Annuity Program assets are to be invested with the objective of preserving their long-term, real purchasing power while providing a predictable stream of annual distributions to be expended in accordance with the gift annuity contract in place between the Foundation and the donors.

Achieving these objectives demands that the Foundation assume prudent levels of risk, a long-term investment horizon, and a consistent diversified asset allocation plan.

The Foundation shall act prudently to control investment risks as follows:

• Manage the assets to achieve acceptable levels of volatility.
• Protect the assets from long-term asset erosion and promote stable growth.
• Work to fulfill the objectives of donors who expect conscientious stewardship of gifts.
• Follow a system of asset allocation to moderate risks and enhance investment returns.
• Establish and maintain a long-term and consistent strategy.
• Maintain procedures to allow timely decisions on investments, with full disclosure and accountability to the Board of Directors. The Foundation’s bylaws direct the Finance Committee in consultation with the Treasurer to make cumulative investment decisions that on a quarterly basis do not exceed15% of the valuation of the Foundation’s marketable securities and cash equivalents as of the end of the most recent fiscal quarter. Cumulative investment decisions shall be calculated by taking the lesser of new purchases or sales and dividing by the valuation of the Foundation’s marketable securities and cash equivalents as of the end of the most recent fiscal quarter. If cumulative investment decisions are proposed that exceed15% of the valuation of the Foundation marketable securities and cash equivalents, this proposal shall come before the Board of Directors for discussion and approval.

FUNDING OF WITHDRAWALS/DISTRIBUTIONS FROM THE GIFT ANNUITY INVESTMENT POOL

The Gift Annuity Program requires periodic withdrawals for annuity payments. The Finance Committee and any investment managers it employs will be made aware of these requirements and will be responsible for employing a strategy to meet these needs. The Foundation anticipates that the funds necessary will be provided from cash and cash equivalents, and from investment income earnings. Withdrawals for annuity payments are expected to be made on a quarterly basis.

ASSET ALLOCATION GUIDELINES

The Foundation Board has established the following asset allocation guidelines to achieve investment diversification. Any deviation of 5% or more of the total portfolio beyond these limits in any asset category requires rebalancing the portfolio accordingly. If an asset class reaches the point where it is 5% higher or lower on an absolute basis than the model dictates, the asset class will be brought at least halfway back to its target. The Investment Sub-committee will review the asset allocation on at least a quarterly basis. If rebalancing is necessary, it should be accomplished during the following quarter. As much as possible, new monies coming into the portfolio will be used to achieve the rebalancing.

ASSET ALLOCATION GUIDELINES

	Cash & Cash Equivalents	Fixed Income	Equities
General Allocation	9%	43%	48%

ASSET ALLOCATION GUIDELINES Continued

EQUITIES CATEGORIES	Cash & Cash Equivalents	Fixed Income	Equities
Equities Total	48%
US Equities	36%
Large Cap		30%	10% Growth 10% Blend 10% Value
Mid Cap		3%
Small Cap		3%
International	12%
Developed Markets		9%
Emerging Markets		3%

1. Cash and Equivalents - (9%)
   Short-term investments shall consist of obligations of the U.S. Government, U.S. Agencies and corporate issues rated A or better by one year maturity or less, and the two highest grades of commercial paper. Additionally, a money market fund or comparable investment vehicle with like investments may be used.
2. Fixed Income - (43%)
   The Foundation’s fixed income portfolio will be comprised of fixed income mutual funds or Exchange Traded Funds and investment grade individual fixed income securities. Fixed income mutual funds and Exchanged Traded Funds will hold 75% or more in investment grade securities at the time of purchase. Investment grade is defined as BBB- or better by Standard & Poor’s and Baa3 or better by Moody’s.
3. Equities - (48%)
   The portfolio may hold common stocks and exchange traded funds publicly traded on U.S. Exchanges, NASDAQ listed stocks and securities convertible into such stocks and mutual funds. Equity investments shall be selected with a preference for high quality mutual funds that have achieved a solid long-term performance record and are focused on long term investment. Analysis of risk factors is strongly considered to reduce portfolio risk. Equity investments in any single issue, one common stock, shall not exceed (7%)of the equity portfolio at market value. The Foundation will conduct periodic reviews of the mutual fund portfolios to evaluate the common stocks held by the funds to avoid concentration in any one common stock.

PORTFOLIO RETURN OBJECTIVES

The Foundation’s minimum compound annual total return objective for the total portfolio is an absolute return, net of all investment expenses and fees, of 5.25%. Returns will be measured over a one-, a five-, ten-, and a fifteen-year period.

EVALUATION AND PERFORMANCE CRITERIA

The Investment Sub-committee shall annually review the rate of return performance of the Foundation’s investment holdings against applicable market benchmarks and the Foundation’s performance goals. The Investment Sub-committee shall report in writing its findings to the Finance Committee, which, in turn, shall report the Sub-committee’s findings to the Foundation Board at the Board’s next regularly scheduled meeting.

The Investment sub-committee, investment managers, and consultants can expect to be evaluated using both absolute and relative criteria. Two or more of the following relative performance benchmarks will be used to evaluate overall performance in each area of portfolio allocation. Manager comments on which is the most appropriate index to use in measuring the managers’ performance are welcome. Comparisons will be made at least semi-annually.

Performance considerations will include:

1. Expected inflation adjusted total annual return of at least 4% for equities and 2%for fixed income over a five-year period.
2. Expected total return compared to the market to equal or exceed an applicable equity or fixed income index.

PERFORMANCE BENCHMARKS

Equities:

1. S&P 500 composite index - largest 500 companies, weighted by capitalization.
2. Wilshire 5000 index - 5,000 companies, weighted by capitalization.
3. Other managers with a similar investment style.
4. Any other equity performance index with component issues similar to those of the equity portfolio.

Fixed income:

1. An appropriate intermediate government/corporate bond index, average maturity 4-5 years.
2. Other managers with similar investment style.
3. Any other fixed income performance index of issues with maturity and quality similar to the fixed income portfolio.

Inflation:

1. Consumer Price Index (CPI).
2. Higher Education Price Index (HEPI).

Below are the market indices selected for each component of the Asset Allocation Model. These market indices are used to create the composite index return against which the total Investment Portfolio is compared.

The Foundation Board may employ a professional investment advisor or consultant to perform ongoing independent investment performance analysis and portfolio management.

PROHIBITED TRANSACTIONS

Investment activities in the following are prohibited unless a fund or asset manager employs such techniques:

• Margin purchases
• Foreign issues, unless traded on U.S. Exchanges or markets
• Commodity trading, including future contracts
• Short selling
• Option trading
• Limited partnerships
• Private placements
• Acquiring securities of companies that have filed for Chapter 11 protection
• Fixed income securities with a maturity greater than 30 years; and/or
• Fixed income or interest rate futures.

COMMUNICATION AND REVIEW

Monthly: Monthly statements of activity are to be forwarded to the Foundation and investment advisor.

Annually: The Finance Committee shall provide an annual portfolio presentation to the Foundation Board which will include reports of portfolio status, time-weighted returns in accordance with association for investment management and research performance measurement standards, performance comparisons to appropriate benchmarks, economic outlook, investment strategy, and other related matters which would be of interest to the Foundation Board.

Ongoing: Ongoing communication by phone, letter, or personal consultation will be required as deemed necessary by the investment advisor and/or the Finance Committee.

The Foundation Board places great trust in and emphasis on the investment strategy employed by the Foundation’s Finance Committee, Investment Sub-committee, and investment managers. Any material changes to or deviations from the Investment Sub-committee’s or the managers’ approach must be communicated and justified to the Finance Committee. The Finance Committee requires the managers to communicate any significant changes in management or investment personnel immediately. The Finance Committee will report to the Foundation Board any material changes or deviations as described in the preceding sentences at the next Board meeting or sooner.

Contact
Name: SUNY Oneonta Foundation Corporation
Organization Address: Alumni Hall, Ground Floor Oneonta, NY 13820

Contact Office: Treasurer, SUNY Oneonta Foundation Corporation
Telephone: 607-436-2081

Contact Office: Director of Foundation Investment Management
Telephone: 607-436-3165

PLAN REVIEW

The Finance Committee is responsible for reviewing these guidelines at least annually to assure that they remain valid and relevant. Any recommendations as to changes should be submitted to the Finance Committee in care of the Foundation in writing. Proposed changes shall be reviewed by the Foundation Board at the Board’s next regularly scheduled meeting.

Adopted by Board of Directors on 4/16/10.
Amended and approved by the Board of Directors on 1/27/17.
Amended and approved by the Board of Directors on 1/19/18.
Amended and approved by the Board of Directors on 1/19/24.

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION

POLICY ON ALLOWABLE EXPENDITURES

The mission of the State University of New York at Oneonta Foundation Corporation (hereinafter known as the “Foundation”) is to raise and administer gifts and grants to enhance the academic status of SUNY Oneonta through endowment, scholarships and institutional programs. As such, the Foundation has a special responsibility for transparency, clarity, and appropriateness in its stewardship of these resources, including sound systems of internal control. The following policy outlines specific categories of expenditures that are deemed appropriate for the Foundation, for what purpose, and under what conditions.

ALLOWABLE EXPENSES

Generally, all Foundation expenditures must be necessary and reasonable, and demonstrate a bona fide business purpose related to the purposes of the Foundation or the mission of SUNY Oneonta. In addition, funds must be expended in accordance with the purposes for which the funds were received and gifted by donors. Examples of allowable expenses include, but are not limited to, the following:

1. Expenses supporting or enhancing the academic mission of SUNY Oneonta, including student scholarships, faculty development, student research and creative activities(SRCA Program), lectureships, endowed chairs, library acquisitions, student recognition, instructional and research equipment, research support, and SUNY Oneonta institutional public service.
2. Operational and administrative expenses necessary for the conduct of the Foundation’s business and the stewardship of Foundation assets, including investment expenses, audit and bank fees, insurance, and costs incidental to the acquisition, maintenance and improvement of Foundation property and equipment.
3. Expenses necessary for donor relations and fundraising programs and activities of the Foundation including print, electronic and in-person solicitations; campaigns; publications; postage; advertising; Phonathon; donor recognition; information systems and related software; and legal and consulting fees.
4. Travel: Necessary and reasonable expenses for travel by SUNY Oneonta employees, Foundation Board members and volunteers for business related to the mission of SUNY Oneonta or the Foundation.
5. Meals and Entertainment: Expenses associated with Foundation or SUNY Oneonta events or expenses necessary and appropriate for fundraising, donor relations or employee recognition.
6. Faculty and staff development: Expenses for faculty and staff development programs and activities, including attendance at conferences.
7. Flowers or other similar gifts provided in association with SUNY Oneonta or Foundation events, for fundraising, donor recognition, or recognition of special life events or accomplishments.
8. Meeting-related hospitality expenses in support of Foundation or SUNY Oneonta business.
9. Memberships in professional associations, consistent with job duties and in support of the Foundation’s mission.

QUALIFIED EXPENSES

Other expenses, which may not be allowable as a general rule, are authorized by Board policy with certain qualifications:

1. Finance and late charges should be avoided whenever possible but may be paid if necessary to protect the credit of the Foundation.
2. Donations: As a general practice the Foundation will not make direct donations or contributions to individuals or other organizations.
3. Participation in dinners or events sponsored by a third-party organization provided that such participation by Foundation or SUNY Oneonta officials serves a fundraising, community relations or related institutional purpose.
4. Gifts: Non-monetary gifts to individuals or organizations must demonstrate a clear business purpose or institutional benefit. The value of any gifts must be reasonable, consistent with Internal Revenue Service regulations and guidelines.
5. Social, cultural and sporting events: Any expenditure for sponsoring individuals at such events must show a bona fide business purpose and institutional benefit (e.g., donor recognition, fundraising, community relations, etc.).

NON-ALLOWABLE EXPENSES

Generally, any expense that provides primarily personal benefit rather than a demonstrable business purpose related to the Foundation or the mission of SUNY Oneonta is not allowed. Other expenses, while potentially demonstrating a benefit to SUNY Oneonta, will not be allowed by Foundation policy. Such examples include:

1. Employee bonuses: As a general policy, the Foundation will not compensate SUNY Oneonta employees for extra service or recognize extraordinary work, beyond that funded by their employer.
2. Relocation expenses: Reimbursement for relocation expenses of SUNY Oneonta employees may not be funded or supplemented with Foundation funds.
3. Personal expenses: Any direct expenditure or reimbursement for expenses incurred by persons conducting SUNY Oneonta or Foundation business must demonstrate institutional rather than personal benefit.
4. Spousal or dependent travel: Expenditures for spouse or dependent travel, including attendance at SUNY Oneonta or Foundation events or travel for prospective employee interviews will not be allowed. An exception would be the participation of SUNY Oneonta president’s spouse, partner or guest who directly contributes to the advancement, community relations, or other institutional functions of the Foundation and SUNY Oneonta.
5. Club Memberships: Foundation funds cannot be used for country club or social club membership dues.
6. Political contributions or support: Expenditures in support of any political candidate, lobbying or partisan issue are prohibited, consistent with the Foundation’s Bylaws.

Adopted by the Board of Directors on 10/19/06.
Amended and approved by the Board of Directors on 4/26/07.
Amended and approved by the Board of Directors on 6/24/11.
Amended and approved by the Board of Directors on 6/22/18.
Amended and approved by the Board of Directors on 1/27/23.

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION

CONTINGENCY FUND POLICY

The State University of New York at Oneonta Foundation (hereinafter known as the “Foundation”) Contingency Fund is a non-endowed unrestricted account that was established shortly after the Foundation was created in 1982. It has funded expenses of modest amounts that were not anticipated or included in program budgets supported by the Unrestricted Endowment.

The Contingency Fund is governed by the Foundation’s Policy on Allowable Expenditures and all expenses must meet the Foundation’s internal controls procedures.

The purposes of the Contingency Fund are to support SUNY Oneonta programs, activities, and events consistent with the SUNY Oneonta mission or in support of SUNY Oneonta and/or the Foundation’s mission and purposes, as defined in the Foundation’s bylaws.

Expenditures from this fund must be authorized by the SUNY Oneonta president and be consistent with Foundation policies and procedures, including the Foundation’s Policy on Allowable Expenditures.

The Contingency Fund may be replenished at the conclusion of a fiscal year from unspent balances of the Development, Fundraising and Program budgets of the Unrestricted Endowment, to an amount not to exceed an annual limit, subject to the review and approval of the Foundation Finance Committee and the Board in its annual budget process.

Approved by the Board of Directors on 4/26/07.
Amended and approved by the Board of Directors on 6/24/11.
Reviewed and approved by the Board of Directors on 6/22/18.
Amended and approved by the Board of Directors on 1/27/23.

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION

CONFIDENTIALITY POLICY

PREFACE

The Division of University Advancement acquires information about SUNY Oneonta alumni, students, parents, corporations, employees, foundations, and friends that may be confidential and/or highly sensitive. The Division of University Advancement staff, university employees, student employees, and Board members and volunteers who are authorized recipients of confidential and/or sensitive information are responsible for protecting the confidentiality of this information.

The University Advancement database exists for the purpose of promoting the University, building and sustaining relationships, and securing charitable gift and grant support. Using or sharing information, mailing lists and/or biographic information for private, commercial, or political purposes, for the purpose of creating an independent database or for a purpose other than that which is approved by University Advancement is strictly prohibited and will be considered a misappropriation of University property.

This confidentiality policy will be attached to any constituent information that is shared with authorized recipients. Constituent information and other confidential items received by authorized recipients must be properly disposed of by shredding physical copies or deleting electronic documents after they are used for their intended purpose.

1. This policy details specific information that is considered confidential and/or sensitive. We will respect the privacy of all constituents with whom we come in contact.
2. University Advancement may provide basic constituent biographic information to employees of SUNY Oneonta and/or volunteers engaged in alumni and/or development activities that are coordinated by University Advancement.
3. Detailed constituent information will be shared only with employees and/or volunteers who are engaged in a high level of relationship building and/or fundraising and development activity that is coordinated and monitored by University Advancement.
4. General donor gift information such as giving levels published in the Annual Report of Donors is considered public information. However, gift or pledge information that includes specific dollar amounts, funding vehicles and/or other personal details are not shared with anyone except employees who are responsible for administration of a fund and volunteers engaged in a high level of relationship building and/or development activity that is coordinated and monitored by University Advancement.
5. We desire to make public announcements of major gifts. Permission or consent of the donor/or donors or other representatives will be obtained, in writing where possible, by University Advancement staff members prior to any announcement. When permission is obtained verbally, it will be documented in the donor’s data base record.
6. The Foundation may accept an anonymous gift provided acceptance of such a gift is consistent with the Foundation’s Gift Acceptance Policy. The Foundation should explore with such donors the extent to which they wish to avoid publicity, and what, if any, disclosure of information related to the gift will be acceptable to the donor.
7. Only the Vice President for University Advancement/Executive Director of the Foundation, University President, or State University of New York at Oneonta Foundation President may request to be informed of the identity of an anonymous donor(s).
8. The Division of University Advancement does not disclose individual address, business, or any other information to any external party requesting such information. Advancement staff may forward mail or a message to a constituent on behalf of an external party.
9. All requests for information about donors by the media or other entities received by any campus office, including the President’s Office and the Office of Communications and Marketing Office, shall be forwarded to the Vice President for University Advancement/Executive Director of the Foundation.
10. Sensitive information, such as a donor’s will, trust instrument, or financial statements will not be copied, distributed, or provided to University employees except for University Advancement staff with roles and responsibilities specifically requiring this information. To the extent possible, such information should be maintained only as a single copy in central files in the Office of the Vice President for University Advancement/Executive Director, and/or the donor’s data base record which has limited access and is password-protected.
11. Students employed in the Division of University Advancement, including students employed in the phonathon program, will not be permitted to work with confidential information. unless they have reviewed and signed the Confidentiality/Non-Disclosure statement
12. Failure to comply with all elements of this confidentiality policy can jeopardize the University’s and the Foundation’s reputations and relationships with constituents. Such failure by a member of the Foundation Board of Directors may result in removal from the Board of Directors, removal from volunteer committees or other volunteer service for the Foundation. Such failure by a University employee may result in disciplinary actions.
13. The Division of University Advancement shall at all times remain in compliance with all applicable laws that may supersede this policy.

Adopted by the Board of Directors on October 17, 2008.
Reviewed and approved by the Board of Directors on January 27, 2017.
Reviewed and approved by the Board of Directors on June 22, 2018.
Reviewed and approved by the Board of Directors on April 14, 2023.

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION

Student Phonathon

Confidentiality/Non-Disclosure Agreement

This Agreement shall govern certain confidential information disclosed to you or learned by you in the course of your employment with the Student Phonathon.

As an employee with the Student Phonathon, I agree that the following Confidential Information is subject to the protections set forth in this Agreement:

1. All information relating to alumni, donors, or potential donors, including identifying information;
2. Individuals’ financial information, including, without limitation, giving history or possible future gifts; and credit card or other payment information;
3. Individuals’ personal contact information, including home addresses, email addresses, and home and cell phone numbers; and
4. Any information designated by University Advancement staff as confidential.

I agree that Confidential Information may be used only for the purpose of carrying out my role with the Student Phonathon.

At the conclusion of my service with the Student Phonathon, I will not retain any Confidential Information or any copies thereof and any notes reflecting Confidential Information. The obligations in this Agreement will continue after my role with the Student Phonathon ends.

I understand that the disclosure of or misuse of Confidential Information in violation of this Agreement may result in termination of my employment with the Student Phonathon. It may also subject me to legal action against me by the individual whose information is disclosed or misused, or by the Foundation, or by the University.

Signed _____________________ Date _____________________________________________Print Name_____________________________________________

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION
Board of Directors
Confidentiality/Non-Disclosure Agreement

This agreement shall govern certain confidential information disclosed to you or learned by you in the course of your service as a Director of the State University of New York at Oneonta Foundation Corporation or otherwise in your volunteer service for the Foundation or University.

I agree that the following Confidential Information is subject to the protections set forth in this agreement:

1. All alumni, donor, or potential donor information, including identifying information;
2. Individuals’ financial information, including, without limitation, giving history or possible future gifts; and gift designations;
3. Individuals’ personal contact information, including home addresses, email addresses, and home and cell telephone numbers;
4. Any non-public financial information of the Foundation;
5. Any information designated by the Foundation’s Executive Director or by the Foundation’s Board President at a board or committee meeting as confidential, or any information designated by University Advancement staff as confidential.

I agree that Confidential Information may be used solely for the purpose of the purpose of carrying out my role as a Foundation Director or carrying out my volunteer service for the Foundation or University.

At the conclusion of my service as a Director or as a volunteer for the Foundation or University, I will return or destroy any Confidential Information or copies thereof and any notes reflecting that Confidential Information and will permanently delete Confidential Information from any computer or electronic device in my possession or control. The obligations in this Agreement will continue after my role with the Foundation or University ends.

I understand that the disclosure or misuse of Confidential Information in violation of this Agreement may subject me to liability and I may be subject to legal action by the individual or entity whose information is disclosed or by the Foundation and/or to removal from my role as a Foundation Director or volunteer.

Signed _____________________ Date _____________________________________________Print Name_____________________________________________

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION

WHISTLEBLOWER POLICY

PURPOSE
The State University of New York at Oneonta Foundation Corporation (hereinafter the "Foundation") Statement of Values and Code of Conduct (hereinafter the "Code") requires directors, officers and SUNY Oneonta employees and students acting on behalf of the Foundation to observe high standards of business and personal ethics in the conduct of their duties and responsibilities. These individuals are expected to comply with all applicable policies, laws and regulations with integrity and honesty.

REPORTING RESPONSIBILITY
It is the responsibility of all Foundation officers, Foundation directors, Foundation honorary directors, and SUNY Oneonta employees and students acting on behalf of the Foundation to comply with the Code and to report violations or suspected violations in accordance with this Whistleblower Policy.

NO RETALIATION
No Foundation officer, Foundation director, Foundation honorary director, or SUNY Oneonta employee or student acting on behalf of the Foundation shall retaliate against, harass, or cause adverse action, or make negative statements against any person who, in good faith, reports a violation of the Code. A person who retaliates in any way against a person who in good faith makes a report pursuant to this Whistleblower Policy may be subject to discipline up to and including removal from the Foundation Board of Directors or position as an officer of the Foundation or from their role acting on behalf of the Foundation. This discipline is in addition to any discipline that may be imposed by the University. This Whistleblower Policy is intended to encourage and enable any person to raise serious concerns within the Foundation prior to seeking resolution outside the Foundation.

REPORTING VIOLATIONS
The Code encourages Foundation directors and officers, and SUNY Oneonta employees and students to share their questions, concerns, suggestions or complaints regarding the Foundation’s actions or omissions with someone who can address them properly. The earlier a concern is expressed, the easier it is to take action.

Foundations directors or honorary directors should report violations or suspected violations of the Code to the Foundation Board President. If the Foundation Board President is the subject of a report, or if the person is uncomfortable with making the report to the Foundation Board President, the report may be made instead to the Executive Director of the Foundation.

SUNY Oneonta employees should report violations or suspected violations of the Code to the Foundation’s Executive Director. If the Executive Director is the subject of the report, or if the person is uncomfortable with making the report to the Foundation Executive Director, the report may be made instead to the Foundation Board President.

SUNY Oneonta students should report violations or suspected violations of the Code to the Executive Director of the Foundation who must inform the Foundation Board President. If the Executive Director is the subject of the report, or if the person is uncomfortable with making the report to the Foundation Executive Director, students should report the violation or suspected violation directly to the Foundation Board President.

If there is not someone to whom the report may be made under this framework because the person(s) who would normally receive the report is or may be involved in the violations or suspected violations to be reported, the report may be made to any member of the Foundation’s Executive Committee (President, Vice-President, Secretary, Executive Director, Treasurer).

The person receiving any report that involves possible financial improprieties or violations must immediately inform the Chair of the Foundation Board’s Audit Committee of the report, or if the person is uncomfortable with making the report to the Audit Committee Chair, the report may be made instead to the Vice President of Finance and Administration (who is also the Foundation’s Treasurer).

COMPLIANCE OFFICERS
The person to whom any report is made under this Whistleblower Policy will be the Compliance Officer with respect to that report and will be responsible for investigating and resolving the complaint. If a complaint involves financial improprieties or violations, the Compliance Officer and the Chair of the Foundation Board’s Audit Committee or the Foundation Treasurer will jointly investigate and resolve the complaint. Any compliance officer may when she or he deems appropriate communicate information about a complaint to the University President and/or Foundation Treasurer.

The Compliance Officer for each report will notify the sender in writing and acknowledge receipt of the reported violation or suspected violation within seven business days. All reports will be promptly investigated, and appropriate corrective action will be taken if warranted by the investigation. If the Compliance Officer determines that it is necessary, he/she may engage an outside investigator or attorney to assist in the investigation with the approval of the Executive Director or the Executive Committee of the Board of Directors.

If the Compliance Officer and, in the case of reports involving financial improprieties or violations the Compliance Officer and the Chair of the Audit Committee or the Foundation Treasurer acting jointly, believes that the matter should be referred to the Foundation Board or to a Board Committee, the subject of the Whistleblower report may not be present at any deliberations of any Committee or the Board that deliberates with respect to the report but the Board or Committee may request information from the person who made the report or may have the person who made the report present information or answer questions at a Board or Committee meeting prior to the commencement of deliberations.

Foundation directors who are employees of the Foundation may not participate in any Board or Committee deliberations or voting relating to the administration of the Whistleblower Policy.

All Compliance Officers will report in writing at the end of each calendar quarter to the Executive Director of the Foundation and the Chair of the Audit Committee on all reports received and how each matter was resolved. The Foundation Board President will receive such reports unless he/she is the subject of the report.

ACCOUNTING AND AUDITING MATTERS
The Foundation Board’s Audit Committee shall address all reported concerns or complaints regarding Foundation accounting practices, internal controls, or auditing. The Compliance Officer for any such report shall immediately notify the Audit Committee chair of any such complaint and work with the Chair of the Audit Committee until the matter is resolved. The Audit Committee Chair, at his or her discretion, may refer the report to the full Audit Committee for its consideration.

REPORTING COMPLAINTS—GOOD FAITH REQUIREMENT
Anyone filing a complaint concerning a violation or suspected violation of the Code must be acting in good faith and have reasonable grounds for believing the information disclosed indicates a violation of the Code. Any allegations that prove not to be substantiated and which prove to have been made maliciously or knowingly to be false will be viewed as a serious disciplinary offense and may result in further action if warranted.

CONFIDENTIALITY
Violations or suspected violations may be submitted on a confidential basis by the complainant or may be submitted anonymously. Reports of violations or suspected violations will be kept confidential to the extent possible, consistent with the need to conduct an adequate investigation.

DISTRIBUTION OF THE POLICY
This Whistleblower Policy will be distributed to all directors, honorary directors, officers, key persons, employees, and volunteers who provide substantial services to the Foundation. Posting the Policy on the Foundation’s website and at the Foundation’s offices in a conspicuous place are among the methods that will satisfy this distribution requirement. The goal is for all directors, honorary directors, officers, key persons, Foundation employees, and volunteers who provide substantial services to the Foundation to receive actual notice of the Whistleblower Policy.

ACKNOWLEDGMENT
I acknowledge that I have read this policy and understand the responsibilities related to the prevention, detection and reporting of suspected violations of the Foundation's Code.

Signature _____________________ Date _____________________________________________Print Name_____________________________________________

Relationship to Foundation (check what applies to you):

Director or Officer of Foundation ____

Honorary Director of the Foundation ____

SUNY Oneonta Employee ____

SUNY Oneonta Student Phonathon Callers/Interns ____

This policy shall be signed by all Directors or Honorary Directors when they are elected or Staff, Volunteers, or Work Study Students when they are appointed to serve in their respective capacities. For Directors and Honorary Directors, it will be in force for the term of election and re-signed if re-election occurs.

Adopted by the Board of Directors on 4/24/09.
Amended and approved by the Board of Directors on 6/20/14.
Amended and approved by the Board of Directors on 10/16/20.
Amended and approved by the Board of Directors on 04/12/24.

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION

RECORD RETENTION AND DESTRUCTION POLICY

OBJECTIVE

To establish and consistently maintain a policy that complies with the SUNY Retention and Destruction Policy for the systematic review, retention, and destruction of legal, operational and historic records received or created by the State University of New York at Oneonta Foundation Corporation (hereinafter known as the “Foundation”). This policy applies to all records in any form including electronic documents shared using email.

POLICY

The policy of the Foundation is to coordinate and administer the systematic management of Foundation records from initial creation to final disposition. The process includes but is not limited to the identification of vital records based on SUNY and legal requirements for retention, or the destruction requirements for obsolete records according to the attached retention schedule, and the storage and potential recovery of vital information.

The Executive Director of the Foundation is designated as the Records Management Officer of the Foundation with the assistance of Foundation management, including the Associate Treasurer, as necessary. The duties of the records management officer shall include but need not be limited to the following:

1. Promulgating records retention and disposition policies and ensuring compliance by all staff and board members.
2. Ensuring that the Foundation records are maintained and disposed of in compliance with this policy;
3. Ensuring that the Foundation identifies, protects, and preserves business, operational and historic records;
4. Furnishing to the Board such reports as they may request regarding Foundation records and records management programs and practices;
5. Recommending and guiding the development and application of records management practices for the Foundation;
6. Coordinating the continuous disposition of obsolete records in accordance with the adoption and use of records retention and disposition schedules; and
7. Recommending to the Board suitable retention periods for any records not covered by records retention and disposition schedules.

Additionally, the Executive Director with assistance from the Associate Treasurer, shall make best efforts to:

1. Coordinate the storage, management, and destruction of inactive records, orthose no longer needed for the legal, operational, historic or business of the Foundation.
2. Periodically review the requirements for records storage, including security hardware and software.

Any document with a permanent length of storage will be required to be kept as hard copy as well as electronic.

DISPOSITION OF RECORDS

No records shall be destroyed prior to the expiration of the retention period specified in an applicable records retention and disposition schedule or as authorized by the Foundation. Unless otherwise indicated, a printed record need not be retained if an electronic copy of that record has been retained and archived.

RECORDS DAMAGED OR DESTROYED AS A RESULT OF NATURAL OR MAN-MADE DISASTER

Whenever records are destroyed in whole or in part by fire or flood or as a result of any natural or man-made disaster, the Executive Directors of the Foundation shall:

1. Notify the Board of Directors, as soon as practicable as to the nature, type and quantity of the records damaged or destroyed and the circumstances surrounding their damage or destruction;
2. Take immediate steps to protect the damaged records from further deterioration; and
3. Initiate action, when appropriate to retrieve, reassemble and reconstruct the information contained in the damaged or destroyed records.

Adopted by the Board of Directors on 4/24/09.
Amended and approved by the Board of Directors on 6/23/17.
Amended and approved by the Board of Directors on 4/8/22.

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION

RECORD RETENTION AND DISPOSITION SCHEDULE

DEFINITION

This schedule is a companion document to the Record Retention and Destruction Policy of the State University of New York at Oneonta Foundation Corporation (hereinafter known as the “Foundation”). The following time for length of storage is determined by statutes or regulations.

RETENTION SCHEDULE
Where appropriate regulations exist, records will be maintained according to rulings as set forth by the Internal Revenue Service. Per the IRS code "The taxpayer must retain the required records for so long as the contents thereof may become material in the administration of any internal revenue law." Other records will be retained as follows:

BUSINESS – GENERAL RECORDS RETENTION

INSURANCE RECORDS

LEGAL DOCUMENTS

TAX RECORDS

HISTORICAL RECORDS

PROCEDURES

Record Destruction
Records will be boxed and marked with destruction date prior to storage for identification purposes. When records are past retention, they will be destroyed consistent with the Record Retention and Destruction Policy.

Litigation Holds
No record shall be destroyed where legal action is in progress or pending. As soon as a legal action is commenced to which the Foundation is a party or a subpoena is served upon the Foundation, the Executive Director will instruct Foundation Staff of specific types of records that must be retained until the resolution of the legal action or subpoena and the Executive Director will take all necessary action to stop automatic deletion of relevant records during that period.

Review of Policy
This schedule and its related policy will be reviewed by the Board Development and Governance Committee of the Foundation every two years. All material changes to the policy shall be approved by the Committee and submitted to the Foundation Board of Directors for final approval.

Adopted by the Board of Directors on 04/24/09.
Amended and approved by the Board of Directors on 06/23/17.
Amended and approved by the Board of Directors on 04/08/22.

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION

POLICY FOR REVIEWING THE IRS FORM 990

The State University of New York at Oneonta Foundation Corporation (hereinafter known as the “Foundation”) Board designates its Audit Committee to review and make a recommendation for approval of the Federal Form 990 before it is filed with the Internal Revenue Service. The Board Treasurer is authorized to sign the Form 990 upon approval by the Audit Committee and the Board of Directors. This policy, together with the procedure described below, will satisfy The Foundation’s responsibility for prior Board review and approval of the Federal Form 990 on an annual basis.

PROCEDURES

The following procedures will be followed on an annual basis for purposes of the organization’s compliance with the policy described above. The Foundation’s Audit Committee is responsible for compliance with the policy and completion of the following procedures on an annual basis:

1. The Board Treasurer will communicate directly with the external tax preparer and the internal staff responsible for preparation of these filings. The communication will define and document the timeline and requirements for completion of the responsible party’s assigned duties with respect to review and approval of the Federal Form 990.
2. A draft of the disclosure Form 990 for the organization will be provided to the Audit Committee at least ten days prior to the October Board meeting for its review. Any questions following the Audit Committee’s review will be reviewed with the tax preparer. Appropriate modifications to the form, if necessary, will be made prior to the Board meeting and subsequent filing.
3. Approximately five days prior to the October Board Meeting, the Audit Committee will meet to review and approve the final draft of the Form 990.
4. The Audit Committee Chair and the tax preparer will present a summary of the draft disclosure Form 990 and Schedule B to the Board for review and approval at its October Board meeting.
5. At least 24 hours before the Form 990 is filed, an electronic version of the final disclosure Form 990 will be distributed to all Board members of the Foundation and the offices of the Executive Director and Treasurer for their information.
6. Satisfactory completion of the above procedures will allow the Board Treasurer to sign the Federal Form 990 in accordance with IRS requirements.

Adopted by the Board of Directors on 6/26/09.
Amended by the Board of Directors on 6/25/10.
Amended by the Board of Directors on 6/23/17.
Amended by the Board of Directors on 10/29/21.

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION

CONFLICT OF INTEREST POLICY STATEMENT

The State University of New York at Oneonta Foundation Corporation (hereinafter known as the “Foundation”) is a Section 501(c)(3) public charitable organization under Internal Revenue Service rules. The Internal Revenue Code prohibits members of the Board of Directors or managers of a 501(c)(3) organization from engaging in self-dealing with the organization.

The purpose of this conflict-of-interest statement is to protect the Foundation when it is contemplating entering into a transaction or arrangement that might benefit the private interest of a Foundation Board of Directors (“Board”) member or Honorary Director. This statement is intended to supplement but not replace applicable State University of New York policies or state and federal laws governing conflicts of interest applicable to charitable non-profit organizations.

It is the policy of the Foundation’s Board of Directors that no member of the Board or relative of a member of the Board or anyone to whom the Board may delegate authority to act on its behalf, may, either directly or indirectly, profit from any action taken by the Board or professional staff, where that member may have influenced that action. Relative is defined as any person who is known by the Board member to be related by blood or marriage, or whose relationship with the Board member is similar to that of persons who are related by blood or marriage.

Further, it is the duty of members of the Foundation Board of Directors to disclose any such conflicts or potential conflicts whenever they may exist, and to physically excuse themselves from discussing, voting or commenting on any action such as is described above. Those conflict-of-interest disclosures will be documented in the minutes of the appropriate Board or Committee meeting. If any Board member or Honorary Director identifies a conflict of interest, that person must report the conflict situation to the Chair of the Board’s Audit Committee. The Audit Committee Chair will present the information to the Audit Committee for further discussion and determination of any further action that would result in a report to the Board. It is the responsibility of the Board of Directors to determine if a conflict of interest exists. The person with the conflict of interest may not be present at or participate in Board or committee deliberation or vote on the matter giving rise to such conflict.

If, at the time a Director is elected to the Board, the Director or relative of the Director is already the recipient of a scholarship or grant awarded by the Foundation, that fact shall be disclosed but will not otherwise be subject to this Policy. If a sitting Director or relative of a sitting Director comes under initial or renewal consideration for a scholarship or grant, that fact shall be disclosed and the Director recused from discussing, voting, or commenting as described above. This shall apply to all types of Directors, including Honorary and Student.

If the Board or committee thereof has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member’s response and after making further investigation as warranted by the circumstances, a committee determines that a violation has occurred, it shall inform the Board. If the Board determines that the member has failed to disclose an actual or possible conflict of interest, it shall take the disciplinary and corrective action it deems appropriate.

Each Board member shall annually affirm in writing the principles of this policy statement. The signed statements shall be maintained by the Secretary of the Foundation.

Adopted by the Board of Directors 1/24/08.
Amended and approved by the Board of Directors 6/20/14.
Amended and approved by the Board of Directors 6/23/17.
Amended and approved by the Board of Directors 1/21/22.

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION

CONFLICT OF INTEREST POLICY DISCLOSURE STATEMENT

As a Board member, or as an individual who has been delegated the authority to act on the Board’s behalf, I have read the Conflict-of-Interest Policy Statement of the State University of New York at Oneonta Foundation Corporation (hereinafter known as the “Foundation”) regarding conflicts of interest.

Except as disclosed below, I am not engaged in any transaction or activity which gives rise to a conflict of interest.

And further; to the best of my knowledge and belief, except as disclosed below, I do not intend to engage in any transaction, to acquire any interest in any organization or entity, to become the recipient of any gifts or favors, or to become involved in any activities which are covered by the Foundation’s conflict of interest policy.

1. Without Exception ( )
2. Except as Disclosed Below ( )

Printed Name _____________________ Signature _____________________________________________Date_____________________________________________

Adopted by the Board of Directors 1/24/08.
Amended and approved by the Board of Directors 6/23/17.
Amended and approved by the Board of Director 1/21/22.

THE STATE UNIVERSITY COLLEGE AT ONEONTA FOUNDATION CORPORATION, INC.

STATEMENT OF VALUES & CODE OF CONDUCT¹

INTRODUCTION

The purpose of the State University of New York at Oneonta Foundation Corporation (hereinafter, the “Foundation”) is to promote the best interest of State University of New York at Oneonta (hereinafter, the “University”). The Foundation promotes the University’s academic programs, scholarships and public service by providing financial and other forms of support; managing and investing its endowment and other assets in accordance with its purpose and fiduciary responsibilities; and receiving and disbursing charitable gifts and grants for the purposes designated by donors. The Foundation’s support is not intended to replace the obligation of the state of New York to provide for the basic needs of the University’s programs; rather it is intended to enhance the quality and scope. The purpose of this Statement of Values and Code of Conduct is to assure donors and beneficiaries that the board of directors and professional and support staff serving the Foundation maintain and act according to the highest moral and ethical standards in the performance of its mission and responsibilities.

MISSION

The mission of the Foundation Corporation, Inc. is to raise and administer gifts and grants to enhance the academic status of the University through endowment, scholarships, and institutional programs.

STATEMENT OF VALUES

The Foundation is accountable to all alumni, donors and the general public and is a responsible steward of resources. Within the bounds of protecting donor privacy, it conducts its business transparently and with integrity and honesty. It is committed to excellence and to maintaining public trust and inclusiveness. It respects the worth and dignity of all individuals, and the principles of diversity, equity, and inclusion.

THE CODE OF ETHICS

I. Personal and Professional Integrity

All staff, board members and volunteers of the Foundation act with honesty, integrity, and openness in all their dealings as representatives of the Foundation. The Foundation promotes a working environment that values respect, fairness, and integrity.

1
Originally adapted from “Statement of Values and Code of Ethics for Nonprofit and Philanthropic Organizations” developed by the Ethics and Accountability Committee of the INDEPENDENT SECTOR and adopted by the Independent Sector Board, February 2003. For current “Statement of Values and Code of Ethics”, adopted June 2020, see https://independentsector.org/resource/is-code-of-ethics/.

II. Governance

The Board of Directors is responsible for setting the mission and strategic direction of the Foundation and for the oversight of finances, operations, and policies. The Board of Directors:

1. Ensures that its directors shall have the requisite skills and experience to carryout their duties and understand and fulfill their governance duties acting for the benefit of the Foundation and its public purpose;
2. Enacts a conflict-of-interest policy to ensure that any conflicts of interest or the appearance thereof are avoided or appropriately managed through disclosure, recusal, as necessary and otherwise, as follows:
   1. a)Annually, requires directors to read and to acknowledge in writing that they have acted in accordance with the conflict-of-interest policy;
   2. b)Annually, requires directors to disclose affiliations with other organizations and businesses;
   3. c)Requires directors to notify the board of potential conflicts of interest, existing or new, when considering business matters;
   4. d)Requires that directors do not take part in meetings or vote on matters in which they have a personal financial interest, except to provide requested information and do not informally advocate on their own behalf;
   5. e)Requires the board of directors to compare proposed transactions involving a director’s company or other business interest against Market Value benchmarks; and
   6. f)Keeps written record of board-approved transactions involving directors.
3. Ensures that the executive director and appropriate staff provide the board of directors with timely and comprehensive information so that it can effectively carry out its duties;
4. Ensures that the Foundation conducts all transactions and dealings with integrity and the highest standards of ethics and honesty;
5. Ensures that the Foundation promotes working relationships with directors, staff, volunteers, and beneficiaries that are based on mutual respect, fairness and openness;
6. Ensures that the Foundation’s resources are responsibly and prudently managed to enable the Foundation to carry out its programs effectively; and
7. Annually requires directors, staff, and volunteers to read and to acknowledge in writing that they have acted in accordance with the Statement of Values and Code of Conduct.

III. Legal Compliance

The Foundation is knowledgeable of and complies with all applicable laws, regulations, governmental policies, and international conventions pertaining to its activities. In this regard, staff stay current on federal and state laws and regulations generally as applicable to the Foundation and specifically as appropriate to individual functions. Where appropriate and necessary, the Foundation seeks and relies on advice of legal counsel, which may include consultation with outside counsel.

IV. Responsible Stewardship

The Foundation and any subsidiaries manage their funds responsibly and prudently:

1. It spends a reasonable percentage of its annual budget in pursuance of its mission in accordance with the annual endowment spending rate and annual administrative fee as applied to all funds;
2. It spends an adequate amount on administrative expenses to ensure effective investment, accounting and information systems, internal controls, competent staff, and other expenditures essential to professional management;
3. Its fundraising costs are reasonable and take into consideration the variety off acts that affect them;
4. It does not accumulate operating funds excessively;
5. It prudently draws from endowment funds consistent with donor intent to support the University;
6. It ensures that its spending and disbursement practices and policies are fair, reasonable, and appropriate to fulfill its mission and to support the University; and
7. Its financial reports are factually accurate and complete in all material respects.

V. Openness and Disclosure

Consistent with the Foundation’s Confidentiality Policy, the Foundation provides comprehensive and timely information to the public, the media, and all stakeholders and is responsive to reasonable requests for information. All information about the Foundation fully and honestly reflects its policies and practices. Basic informational data, such as Form 990, program reviews and compilations, and audited financial statements are otherwise available to the public upon written request. Solicitation materials accurately represent goals, policies and practices and reflect the dignity of the beneficiaries. Financial, organizational, and program reports are complete and accurate in all respects.

VI. Evaluation

The Foundation reviews its programs for effectiveness annually; makes an annual report to the Board of Directors; and is committed to improving program and organizational effectiveness; and is responsive to the changing needs of the University.

VII. Diversity, Equity, and Inclusion

The Foundation values and promotes diversity, equity and inclusion in serving the University. The professional staff, board, and volunteers reflect and celebrate diversity as a source of strength for the Foundation; and invest in this to enrich its programmatic effectiveness.

VIII. Fundraising

In soliciting from the public, the Foundation uses truthful materials. It respects the privacy concerns of individual donors; expends funds consistent with donor intent; and discloses important and relevant information to donors.

In raising funds from the public, the Foundation respects the rights2 of its donors, as follows:

1. To be informed of the Foundation’s mission, of the way the Foundation intends to use donated resources, and of its capacity to use donations effectively for their intended purposes;
2. To be informed of the identity of those serving on the Foundation Board of Directors and to expect the board to exercise prudent judgment in its stewardship responsibilities;
3. To be assured their gifts will be used for the purposes for which they were given;
4. To have access to the Foundation’s most recent financial statements;
5. To receive appropriate acknowledgement and recognition;
6. To be assured that information about their donations is handled with respect and with confidentiality to the extent provided by law;
7. To expect that all relationships with individuals representing organizations of interest to the donor will be professional in nature;
8. To be informed whether those seeking donations are volunteers, employees of the University, or hired solicitors;
9. To have the opportunity to decline to receive mailings and/or to be contacted by other means by the Foundation and/or the office of University Advancement; and
10. To feel free to ask questions when making a donation and to receive prompt, truthful and forthright answers.

2 Adapted from “A Donor Bill of Rights,” Adopted in 1993 by the Association for Healthcare Philanthropy (AHP), the Council for the Advancement and Support of Education (CASE), the Association of Fundraising Professionals (AFP), and the Giving Institute: Leading Consultants to Non-Profits. © 2015

IX. Certification

I certify that I have read and acknowledge that I have acted and will act in accordance with this Statement of Values and Code of Conduct and Pledge to Ensure A Safe, Respectful, and Productive Work Environment. Additionally, as required, I am disclosing the following affiliations with other organization and businesses as indicated below:

Names of other organizations or businesses with which I am affiliated:

Signature _____________________ Date _____________________________________________Printed Name_____________________________________________ Capacity ______________________________________ (Director, Staff, Volunteer, Student/Work Study)

This policy shall be signed when Directors are elected or when Staff, Volunteers, or Work Study Students are hired or appointed to serve in their respective capacities. For Directors, it will be re-signed annually until their term of election has ended.

Adopted by the Board of Directors on 4/24/09
Amended and approved by the Board of Directors on 10/23/09
Amended and approved by the Board of Directors on 6/22/18
Amended and approved by the Board of Directors on 4/14/23
Approved by the Board of Directors on 10/18/24 to add the attached Pledge to Ensure a Safe, Respectful, and Productive Working Environment

SUNY Oneonta Foundation
Pledge to Ensure a Safe, Respectful, and Productive Working Environment

As leaders in institutional advancement, it is our responsibility to ensure safe and productive working environments for everyone, and to know and understand our institutional policies and resources to respond promptly and appropriately to any reports of harassment. The SUNY Oneonta Foundation adheres to the Statement of Values and Code of Conduct, and offers this Pledge as an attachment.

1. I will do all I can to create a working environment of mutual respect and safety. I will be clear that harassment will not be tolerated in any context.
2. I will ensure an environment in which a staff member can report potentially uncomfortable or abusive situations without fear of professional reprisal.
3. I will take any complaint seriously and respond promptly. I will adhere to my organizational policies in this regard.
4. I will ensure that we develop engagement, cultivation, or solicitation strategies that do not put a staff member at risk of harassment or abuse.
5. I will ensure that staff members are not asked to operate in unsafe organizational or social environments.
6. In the case of any relationship in which there is a continuing potential for harassment or untoward activities, I will take the necessary action to mitigate this potential.
7. If anyone continues to harass or otherwise create a dangerous or potentially abusive environment for staff, I will sever the relationship between that individual and the institution I serve.

Source: Council for Advancement and Support of Education (CASE)

10-18-24

STATE UNIVERSITY OF NEW YORK AT ONEONTA FOUNDATION CORPORATION

Donor Privacy Policy

The State University of New York at Oneonta Foundation (hereinafter known as the “Foundation”) values and protects donors’ personal information. The Foundation will not share or sell a donor’s personal information with anyone else, nor send donor mailings on behalf of other organizations. This policy applies to all information received by the Foundation, both online and offline, on any platform, as well as any electronic, written, or oral communications.

Adopted by the Board of Directors on 1/22/21.
Amended and approved by the Board of Directors on 4/9/21.

State University of New York at Oneonta Foundation Corporation
University Advancement
Alumni Hall - Ground Floor
Oneonta, NY 13820
607-436-2535
https://suny.oneonta.edu/suny-oneonta-foundation