Purpose of the Foundation:
“The LSSU Foundation exists for the sole purpose of promoting, receiving, managing and disbursing certain private donations and contributions for the benefit of Lake Superior State University”
Agreement between LSSU and the LSSU Foundation, Preamble, reaffirmed April 18, 1997
“The purposes of the Foundation are (1) to create an awareness within the private sector of the financial needs of the University that are not met by State or Federal support and (2) to implement plans … for the meeting of these needs through private gift support.
“To fulfill these purposes, it shall be the responsibility of the Foundation to institute an organized program for obtaining gift support from alumni, friends, faculty and staff, corporations, organizations, and private foundations for both annual and capital purposes, in coordination with the University.”
Agreement between LSSU and the LSSU Foundation, Section 2.2, reaffirmed April 18, 1997.