This service allows units to request the closure of Stony Brook Foundation (SBF) accounts and the resolution or transfer of any remaining balance. It is intended for accounts that are no longer expected to receive future revenue and cannot be used in their current state.
Requests will be triaged based on the account’s current balance, as outlined below:
Option 1:
Accounts with a balance of $200 or less -
Do not submit a ticket. Instead, email joshua.a.cohen@stonybrook.edu with your closure request and the desired transfer destination for the remaining funds.
Option 2:
Accounts with a balance of $200.01 to $1,000 -
Submit a ticket with the relevant details. We will review the gift agreement and ensure the requested transfer aligns with SBF guidelines. If approved, funds will be moved accordingly.
Option 3:
Accounts with a balance of $1,000.01 to $10,000 -
Follow the same process as in Option 2. In addition, we will notify all identifiable donors and allow 90 days for responses. After this period, any unopposed funds will be transferred to the requested account.
Option 4:
Accounts with a balance of $10,000.01 or more:
Follow the same process as in Option 2. Additionally, we will coordinate with the assigned development officer to engage the donor(s) directly and obtain approval before proceeding with any changes.
Please note that response times will vary depending on the account balance and the level of review or outreach required. Please allow for 2-4 weeks of processing time, plus any additional time outlined in the steps above. We will keep you updated throughout the process.