Policy Statement

Ramapo College of New Jersey (the “College”) recognizes the importance of securing philanthropic gifts, pledges, private/non-governmental grants, and governmental grants. The College has designated, as a shared responsibility with the Ramapo College Foundation (the “Foundation”), the securing of philanthropic gifts, pledges, and private/non-governmental grants.

This Policy serves to certify that all philanthropic gifts, pledges, private/non-governmental grants and other resources received by the Ramapo College Foundation, a 501(c)(3) are administered according to the Ramapo College Foundation Gift Acceptance Policy and in compliance with College policies and procedures, and applicable laws and regulations.

Further, philanthropic gifts, pledges, and private/non-governmental grants must be solicited, accepted, recorded, and acknowledged by the Foundation and the College in a manner that supports the mission of the College and protects the interests of both the institution and its donors.

Reason for the Policy

The purpose of this policy is to ensure that all philanthropic gifts, pledges, private/non-governmental grants, and other resources that are received by the Ramapo College Foundation, a 501(c)(3), support the College mission and strategic plan, enhance Ramapo’s reputation and standing, and comply with all Ramapo College policies, procedures, and applicable laws and regulations.

The policy further serves to support the Ramapo College Foundation’s mission to “stimulate, solicit, receive, and promote receipt of resources from grants, bequests, and gifts offered by individuals, corporations, and foundations and to use such resources to enhance, support, and complement the total mission of Ramapo College of New Jersey.”

To Whom Does the Policy Apply

This policy applies to all students and employees of the College; the Foundation’s Board of Governors; the College’s Alumni Board of Directors; all advisory boards of the College and Foundation; and all persons soliciting or accepting philanthropic gifts, pledges, and private/non-governmental grants on behalf of the College.

Related Documents

• Procedure 407: Gifts and Private/Non-governmental Grants
  • Appendix 407A: Definition of Terms
• Policy 219: Naming of Buildings, Facilities and Assets
• Ramapo College Foundation Policies
  • Gift Acceptance Policy
  • Investment and Asset Allocation Policy
• Policy 649: Financial Conflicts of Research (Sponsored Research)

Contacts

Institutional Advancement

Procedure 407: Gifts and Private/Non-governmental Grants

Revised: April 2019, April 2025

I. Authority

Ramapo College of New Jersey (the “College) and its Board of Trustees empower the Ramapo College Foundation (the “Foundation”), a 501(c)(3), to obtain philanthropic gifts, pledges, private/non-governmental grants, and other resources to meet the needs of the College. Further, the Office of Grants and Sponsored Programs (the “OGSP”) also works on behalf of the College to obtain private/non-governmental grants.

Further, the President of the College (ex-officio) and a member of the Board of Trustees (voting member) serve on the Foundation’s Board of Governors. Together, the President and Vice President with oversight of Institutional Advancement establish fundraising priorities and budgets that are aligned to the College’s mission and strategic goals. These priorities and budgets are presented to the Foundation’s Board of Governors at the beginning of each fiscal year.

All fundraising activities including, but not limited to, the issuance of Ramapo College Foundation awards, private/non-governmental grants, corporate solicitations of funds or gifts in kind, individual solicitations, pledges, special event fundraisers, direct mail, personal contacts, telemarketing efforts, crowd fundraising or any social media solicitations, regardless of size, must first receive approval from the Foundation. This practice will ensure first priority is given to the College’s established strategic needs and allow for efficient use of resources to maximize the benefits derived from each donor and every gift, pledge, or private/non-governmental grant.

All philanthropic gifts, pledges, and private/non-governmental grants must align with the mission of Ramapo College, comply with applicable laws, regulations, and institutional policies, be legal, and not carry restrictions or conditions that could compromise the College’s core values.

This procedure is administered by the Ramapo College Foundation and the Vice President with oversight of Institutional Advancement. It must be:

• implemented in accordance with the Ramapo College Foundation Gift AcceptancePolicy,
• available on the College and Foundation Websites, and
• referenced in Donor Agreements and/or made available to potential donors.

Note: All public (local, state, and or federal) government grants are paid directly to the College through the OGSP or, in the case of financial aid grants, through the Financial Aid office. Financial Aid grants have stringent compliance requirements which are documented outside of the scope of this policy. Non-Financial Aid government grants are submitted through OGSP and include the full applicable and available Indirect Costs Recovery formula approved and in place for the College when allowable by the sponsoring agency. In circumstances in which the sponsoring government agency may only award to a 501(c)(3), the OGSP will coordinate receipt and stewardship with the Foundation.

II. Risk Management

A. Philanthropic Gifts

All philanthropic gifts should not impose undue risk upon the Foundation, College, or its related programs at any time, now, or in the future; such determination should be made by authorized personnel only and, if necessary, in consultation with legal counsel, the Budget and Fiscal Planning Office, and other functional areas within the College that may be impacted by such a gift.

All endowment gifts should have a gift agreement and contingency clause. It is important for donors to understand that the needs, policies, centers or activities of the College may change over time. The gift will be used as nearly as possible to the donor’s original intent.

Only authorized personnel of the Foundation/Institutional Advancement may accept gifts. Gifts that are not deemed to be in the donor’s or the College’s best interest will not be accepted. Employees should encourage donors to consult with their own financial or legal advisors when contemplating a gift, and not give legal or financial advice.

B. Private/non-governmental Grants

All private/non-governmental grants should not impose undue risk upon the Foundation, College, or its related programs at any time, now, or in the future; such determination should be made by authorized personnel only and, as necessary, in consultation with OGSP and other functional areas within the College that may be impacted by such a grant.

All private/non-governmental grants should have a grant agreement. It is important for grantors to understand that the needs, policies, centers or activities of the College may change over time. The grant will be used as nearly as possible to the grantor’s original intent.

Only authorized personnel of the Foundation/Institutional Advancement may accept private/non-governmental grants. Grants that are not deemed to be in the grantor’s or the College’s best interest will not be accepted. Employees should encourage grantors to consult with their own financial or legal advisors when contemplating a grant, and not give legal or financial advice.

III. Receipt & Compliance

A. Philanthropic Gifts

All philanthropic gifts from individuals, foundations, MOU’s, corporations, sponsorships, etc. for current or deferred use as well as unrestricted or restricted or special endowment purposes intended to support any aspect of the College should be made payable to the Foundation.

All philanthropic gifts shall be recorded and acknowledged by the Foundation according to the standards recommended and/or required by Ramapo College policies and procedures, the Internal Revenue (IRS) Code regulations, State and Federal law, the Council for the Advancement and Support of Education (CASE), and the National Association of College and University Business Officers (NACUBO).

This policy and procedure subscribe to the Council for Advancement and Support of Education (CASE) Statement of Ethics and the Association of Fundraising Professionals (AFP) Code of Ethics. Based on these statements, the Donor Bill of Rights, along with the Foundation Management Fee statement, is shared annually with all donors.

Further, the Ramapo College Foundation’s Audit Committee shall engage an independent auditor to perform an annual audit of the financial statements of the Foundation and will make the results of said audit public. Also, the Foundation’s Investment Committee shall make public its investment policies and procedures.

B. Private/non-governmental Grants

All private/non-governmental grants for current or deferred use as well as unrestricted or restricted or special endowment purposes intended to support any aspect of the College should be made payable to the Foundation.

All private/non-governmental grants shall be recorded and acknowledged by the Foundation according to the standards recommended and/or required by Ramapo College policies and procedures, the Ramapo College Grants & Sponsored Programs Manual, the grantor, Internal Revenue (IRS) Code regulations, State and Federal law, the Council for the Advancement and Support of Education (CASE), and the National Association of College and University Business Officers (NACUBO).

IV. Management Fee

This policy substantiates the need for a management fee that is applied to philanthropic gifts and private non-governmental grants collected by the Foundation. In keeping with industry standards, the fee helps recover costs of advancement efforts associated with philanthropic gifts and private/non-governmental grants as follows:

1. The Foundation will assess a one-time management fee of 5% on all new restricted giftsof $250 and above.

2. The Foundation will assess a one-time charge of 2.5% on all newly created endowments and new gifts of $250 and above to existing endowments.

3. Revenue generated from initial interest and appreciation may be used to pay the management fee or the donor may provide a separate fee donation.

4.This fee is assessed upon receipt of gift and applies to all cash gifts, gifts of securities, pledge payments, and private/non-governmental grants when allowable.

5. Deferred gifts, such as charitable gift annuities, trusts, and bequests will be assessed only at the time they are realized.

6. Private/non-governmental grants received from sponsors such as foundations,authorities, corporations, or other organizations, will be assessed according to this policyexcept where there are pre-existing published guidelines that prohibit it. If a management fee, gift assessment fee, or overhead cost is allowable, it must be added tothe proposal budget to the fullest extent possible.

7. If a management fee is not allowed by the sponsor, but the overhead cost is, the feemay be deducted from the overhead granted in the award.

8. Fees are not assessed on non-cash gifts such as gifts-in-kind or art donations.

V. Disclosure to Donors

The Ramapo College Foundation is required to comply with all inspection and disclosure requirements as set forth by federal IRS regulations governing charitable 501(c)(3) organizations. These disclosures include, but are not limited to:

• public access to an organization’s original application for recognition of tax-exempt status, any documents filed with the application, and any correspondence between the organization and the IRS regarding the application;
• public access to inspect a charitable organization’s Form 990-T,
• disclosures to donors to whom something has been given in return for their contributions, such disclosures must:
  • be in a written statement that is likely to come to the attention of the donor
  • be provided at the time the contribution is solicited or when the payment isreceived
  • inform the donor that the amount of the contribution deductible for federal income tax purposes is limited to the excess of the amount of money and the value of any property contributed by the donor over the value of goods or services provided by the Foundation
  • provide the donor with an estimate of the fair market value of the goods or services provided by the Foundation

All Foundation fees and overhead costs are provided to donors as follows:

1. All donors of $250 or more annually receive the Donor Bill of Rights, Ramapo College Foundation Statement of Fundraising Values including notification of the Administrationof Fees.

2. Proposals, fund agreements, and stewardship reports inform Foundation donors that aportion of the gift is used to cover the cost of advancement operations. Oral discussiontakes place at the time of solicitation and the management fee is included in budgets forphilanthropic gifts and private/non-governmental grant agreements.

3. Donors receive full credit for any management fee paid through their gift.