Although all gifts to the Foundation are very much appreciated, undesignated/unrestricted gifts are most valued. The reason for this is that some programs are of a higher profile than others, and as a result, they may tend to generate a disproportionate share of designated gifts even though there may be other program areas and projects with greater need. Undesignated/unrestricted gifts enable the college administration and faculty to direct the gift funds to those program areas and projects that have the most pressing needs and for which adequate sources of revenue may not be available.
In addition, because the Foundation is an independent 501(c)(3) nonprofit organization, it may not legally rely upon the college to fund its operation. Under a Master Agreement with the college, a value is placed on the services and benefits the college derives from the Foundation and may in return provide equivalent benefits. This reduces somewhat the size of the operations budget required by the Foundation. The Foundation must annually raise its operating budget to cover the costs of the work it does to benefit the college and its various departments and campus organizations.
A third reason that an undesignated/unrestricted gift is highly valued is that the Foundation Board has the option of depositing all or a portion of it into the General Endowment. The General Endowment can then generate revenue for the college in perpetuity. Of course, a donor may herself or himself designate a gift for the General Endowment.
Regardless of the case for undesignated/unrestricted gifts, if a donor wishes to designate his or her gift for a particular program or project or for a scholarship fund, the Foundation will honor the request. Again, gifts are gratefully accepted whether they are designated or undesignated. A donor need only specify how he or she wants the gift applied, and the request will be honored.
Establishing an Endowment or a Designated Account
Establish a Named Scholarship Fund
Gift to the General Scholarship Fund
Gift to an Existing Named Scholarship Fund
Memorial Gift / Naming Opportunity
Citrus Community College District Board Policy BP 6620
Citrus Community College District Administrative Procedure AP 6620
The Foundation honors the request of a donor who wishes to remain anonymous. Such a donor needs only to specify that he or she prefers to remain anonymous in a letter of transmittal with the gift. Only the Foundation director, president of the college, and the administrative secretary will have knowledge of the gift, and the name of the donor will not be shared with others.
Because the Foundation maintains an Honor Wall in the foyer of the Performing Arts Center for donors of gifts of $1,000 or more, a donor who wishes not to be listed on the Honor Wall will need to notify the Foundation director.
Some donors may want it known that they made a gift to the Foundation, but may prefer not to have the size of the gift made public. Others may not mind having their gift listed in a gift range without the specific amount made known. The Foundation honors donor requests when they are made known, preferably in writing.