Q: What is the purpose of the development department?
A: The mission of the development department is to raise awareness and raise funds for Rochester College.
Q: What types of gifts are accepted by Rochester College?
- Cash, checks, money orders, and credit cards.
- Gifts-in-kind including, but not limited to, automobiles, furniture, computer equipment, musical instruments, and volunteer services.
- Stocks, bonds, mutual funds, and real estate. These gifts provide great tax benefits without affecting an individual’s current cash flow, and provide the donor with a dual tax incentive. When property that has been owned for more than a year and has appreciated in value since its purchase is donated, the giver is usually entitled to an income tax deduction for the full current value of the asset, not just the cost. The donor also bypasses any capital gains tax that would have been due had the property been sold.
- Wills, trusts, and estates. Some individuals provide long term gifts to Rochester College by including the college into their wills, trusts, or estates. More information »
Q: Will my gift be tax deductible?
A: Yes, Rochester College is a nonprofit 501 (c) (3) corporation, and your gifts are tax deductible. All donors who itemize deductions on their federal tax return may claim a charitable deduction for the full amount of their gift.
Q: What is a restricted gift?
A: A restricted gift specifies where a gift is to be used (Health and Life Science Center, a scholarship program, library, etc.).
Q: What is an unrestricted gift?
A: An unrestricted gift allows Rochester College to use a gift where needed the most. Unless designated for specific purposes, all gifts are receipted as unrestricted gifts.
Q: What is a matching gift?
A: Some employers have a matching gift program that matches the dollar amount donated to Rochester College. More than 6,000 parent companies, subsidiaries, and corporate foundations currently match employee gifts to nonprofit organizations. If you are uncertain whether your company is a matching company, please contact the development office at 800.521-6010 or email Cathy Ries at email@example.com. Your donation could be worth twice as much!
Q: What is the annual fund?
A: The annual fund helps support the general operation of the college by providing funds for scholarships, library resources, technology, faculty and staff salaries, academic programs, and alumni activities.
Q: What is endowment?
A: Endowment is a collection of assets that provide interest revenue to an institution. Endowment may include assets, funds, or property donated to an institution.
Q: How does Rochester College utilize endowed gifts?
A: Many endowed gifts are channeled into scholarship programs. Named endowed scholarship opportunities begin at $10,000. Scholarships can be designated to assist needy students, students with a particular major, or students who have excelled in academic, music, or athletic arenas.
Q: What federal funding does Rochester College receive?
A: As a private Christian college, Rochester College is not subsidized by the state or federal government.
Q: What percentage of the college’s annual operational budget is received from student revenues?
A: Student tuition, fees, room, and board cover approximately 80 percent of the annual operational budget at Rochester College. Generous donors provide funding for the balance of the operating budget. Donors also fund capital projects and special initiatives for the college.