The Financial Operations area is responsible for all financial reporting for the foundation and the recording and stewardship of all gifts to SUNY Cortland.
Through the office, unrestricted donations fund many campus programs including the Small Grants Program, the Faculty Research and Travel Grants Program, support to the Campus Artist and Lecture Series, as well as providing sponsorships to various other programs. In addition the staff is responsible for the development and monitoring of the annual foundation operating budget.
Through restricted giving, we have established more than 350 restricted funds, which include quasi-endowment and endowment funds. All funds are maintained by the office and the funds may be accessed by authorized parties using the Foundations Funding Request Forms.
Management of the foundation’s endowment, currently $35 million, is one of the primary responsibilities of the office. The foundation is invested with one investment manager and the asset allocation of those investments is governed by the investment policies established by the finance committee of the foundation. At present a new endowment may be established with a gift of $25,000. Annually, spending from the endowment is determined by the spending policy of the foundation.