Frequently Asked Questions

  1. What is the Cal State Fullerton Philanthropic Foundation and what is its mission?
  2. How is the CSFPF managed?
  3. What funds does the CSFPF manage?
  4. What are the differences in account types and how are accounts opened at the CSFPF?
  5. What are the charges on CSFPF accounts?
  6. What CSFPF accounts receive interest?
  7. How can deposits and withdrawals be made?
  8. Are there restrictions regarding the expenditure of CSFPF funds?
  9. How do I get TAX ID information?

 


 

1. What is the Cal State Fullerton Philanthropic Foundation and what is its mission?

The Cal State Fullerton Philanthropic Foundation is a 501(c)3 corporation chartered in the state of California in 1993.

The mission of the CSFPF is to support the people and programs of California State University, Fullerton through the:

  • pursuit, acquisition, and stewardship of private support
  • oversight and management of philanthropic funds

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2. How is the CSFPF managed?

The CSFPF is managed by a prestigious board of governors consisting of some of the region's major business and community leaders. For a list of current board members and brief biographies on each member, click here.

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3. What funds does the CSFPF manage?

The CSFPF manages and invests private gifts and donations to California State university, Fullerton. These include: private gifts to academic departments and programs, administrative units, research activities, capital projects, athletics, student scholarships, endowments, and support groups. The CSFPF does not accept any university general fund dollars.

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4. What are the differences in account types and how are accounts opened at the CSFPF?

Account types

The CSFPF manages three basic account types. Departments are advised to contact the director of development assigned to their college or area before requesting a new account. The assigned director of development can assist the the department regarding gift acceptance, fundraising and stewardship matters.

The first type of account is an ENDOWMENT account. This account is used when the donor(s) direct the university to preserve the gift's principal in perpetuity and to expend only the fund's earnings. There are certain minimum dollar requirements to establish an endowment (the department can discuss endowment requirements with their assigned director of development). The gift dollars donated to an endowment account are referred to as its principal or book value. Gains/losses to an endowment fund are summed with the principal value to arrive at the market value of the fund. Once a year, the board of governors reviews the endowment earnings to determine a spending distribution rate. The spending distribution is calculated based on the 20 quarter rolling average market value of the endowment and is credited to the campus program or scholarship account associated with the endowment. Monies are then expended from the spending distribution account.

The second type of account is a CAMPUS PROGRAM gift account. This account is used when the donor(s) give to a designated department or program. It also may be affiliated with an endowment account and is then referred to as a spending distribution account.

Finally, the CSFPF provides SCHOLARSHIP accounts for the university's departments and programs. Whether affiliated with an endowment account (spending distribution account) or standing alone, a scholarship account is used to manage funds restricted by the donor(s) for student awards, grants, assistantships and scholarships.

Opening New Accounts

When opening new accounts, departments are advised to contact the director of development assigned to their college or area before requesting a new account. The assigned director of development can assist the the department regarding gift acceptance, fundraising and stewardship matters.

Only university faculty or staff members can open accounts. All accounts MUST have at least TWO authorized signatures (university officials who are authorized to sign all withdrawal and transfer documents) AND the approval of the appropriate dean, vice president, or president. Deans may open accounts with the approval of the academic vice president. Vice presidents may open accounts with the approval of the president. The authorized signatories may request withdrawals or transfers from an account. In the absence of the authorized signatories, the overseeing department chair/dean/VP/president (as appropriate) may authorize withdrawals or transfers. Authorized signatories or their assignees may review account information. The overseeing department chair/dean/VP/president may also request information (as appropriate) about accounts in their area.

To open an account with the CSFPF, a new account request must be completed. Completed request forms should be sent to Advancement Serices in CP 850. The primary signer must have a Primary Signatory Agreementg on file with the CSFPF. One of the primary responsibilities of Advancmeent Servies is to ensure funds are expended in compliance with donor restrictions. Therefore, once an account is established, it may only be used for the stated purpose. If you have any questions on new accounts please contact Advancement Services directly at (657) 278-2118.

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5. What are the charges on CSFPF accounts?

The CSFPF board of governors is committed to keeping operation expenses as low as possible in order to maximize private dollars expended on the university's programs and departments as directed.

Interest earnings for campus program and scholarship accounts are retained by the CSFPF to cover its operating costs. At this time, the CSFPF is not charging any gift or disbursement fee for campus program or scholarship accounts. The board reserves the right to initiate other charges in the future if the university's demands and activities warrant increased operational costs

For credit card transactions, the CSFPF does pass on to its account holders the costs of processing these deposits. These fees are usually between 2% and 3.5% of the amount of the the credit card transaction.

In regards to endowment accounts, the board sets and periodically reviews its investment policy and fees. At this time, the CSFPF charges an endowment management fee of 1% of the 60 month (20 quarter) rolling average market value of the endowment pooled investment.

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6. What CSFPF accounts receive interest?

Interest earnings for campus program and scholarship accounts are retained by the CSFPF to cover its operating costs.

Currently the CSFPF allocates spending distribution funds from endowment earnings annually in July of each fiscal year for all endowment accounts based on a spending distribution rate determined by the board of governors. Primay account signers will be notified in May or June of the preceding fiscal year of the spending distribution amount to be allocated for endowments for which they are responsible.

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7. How can deposits and withdrawals be made?

The Cal State Fullerton Philanthropic Foundation Offices are located in the College Park building, Suite 850. Deposits should be brought to this location and deposited in the locked deposit box near the front of the office in an envelope which includes a completed deposit form along with the deposited checks or credit card transactions. Cash deposits must be given to CSFPF personnel along with a completed deposit slip form. The depositor will be given a cash receipt for all cash deposits.

Check requests and purchase orders can be dropped off or sent through campus mail. Generally, check requests that are turned into the Foundation by 10am on Tuesdays will be available for pick up on Friday after 10 a.m.; and check requests that are turned into the Foundation by 10 a.m. on Fridays will be ready for pickup on Wednesday after 10 a.m. (unless requests are incomplete or there is a question regarding the disbursement). Scholarship checks require longer processing time dependent upon Student Financial Services processing time. It is recommended that scholarship check requests are submitted at least two weeks in advance of when needed. Rush checks for non-scholarship checks are available at a $25 service charge per check. Scholarship rush checks are possible (at a $25 service charge per check also), but the department must work with Student Financial Services first to see if they will be able to rush a check to the student.

Please visit our Download Forms section for the most current versions of our deposit form, check requests, scholarship check requests and other forms.

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8. Are there restrictions regarding the expenditure of CSFPF funds?

The CSFPF is obligated to abide by all accepted donor restrictions, thus strictly enforcing compliance with the established limitations by the university's account holders.

All withdrawal requests and transfers must be consistent with donor intent and compliant with any federal, state, CSU, CSUF, CSFPF and account restrictions/directives.

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9. How do I get TAX ID information?

Please contact the Philanthropic Foundation main office number 657-278-2786 for this information.

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