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DOCUMENT INFORMATION

Document TitleFoundation Pledge Policy
Document Type
  • Bylaws
  • Policy Document
  • Procedures
  • Guidelines
  • Form
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Approval Date

August 7, 2009

Approved byFredonia College Foundation
Effective Date


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DOCUMENT CONTENT

Pledges or promises to give will be recorded on the books as a receivable only when they are in excess of $100,000 and are enforceable. For multiple year pledges, the $100,000 limit applies to the pledge in total and at face value. For purposes of valuation on the books, each gift will be discounted at 10%, plus an annual discount rate of prime plus 1%.

For purposes of enforceability, the Foundation must be in receipt of a written, signed pledge statement from the donor. If a written, signed pledge cannot be obtained from a donor, a signed and dated memorandum from the appropriate staff member setting forth the circumstances of the pledge and a satisfactory explanation for the lack of documentation may be accepted by the Executive Director or his/her designee. 

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Category(s)
  • Academic Affairs
  • Advancement
  • Financial
  • Governance
  • ITS
  • Operational
  • Personnel
  • School/College
  • Student Life
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