Gift Fee Policy

The Rhode Island College Alumni & Foundation’s goal is to generate private funding sources for the benefit of Rhode Island College and specifically RIC students. To help achieve this goal the foundation has established a gift fee policy effective July 1, 2020 (revised January 1, 2026) as a part of a funding strategy enabling the organization to build capacity for increased private donations to Rhode Island College and the Rhode Island College Alumni & Foundation. This gift fee assessment is one of four resources identified to support foundation development efforts. Additional resources include direct and in-direct college support, an endowment management fee and investment activity.

Gift Service Fee

• The Rhode Island College Foundation assess a gift service fee on all gifts received as defined here. The gift service fee is 5% for the following:
  • Current use gifts including scholarships
  • Current use gifts to endowments
  • Real Estate Gifts
  • Stock and Insurance Policy Gifts
  • Charitable Grants
• Annual Giving Campaign Gifts will be assessed a 3% gift service fee.
• Agency Fund Gifts – Gift fees will be defined in the Memorandum of Understanding or Fund Agreement with an individual unit, department, school, division or organization.

Exemptions

The Rhode Island College Foundation may consider a gift service fee exemption under the following circumstances:

• A major gift in alignment with the college critical needs
• An endowment gift of $25,000 where the gift service fee would decrease the gift amount below the endowed level
• If a donor organization or charitable foundation’s policy states in a verifiable and public manner that a fee may not be charged
• Gift fee exemptions can only be authorized by the Rhode Island College Foundation Board of Directors upon the recommendation of the Executive Director.