There are many ways to give to LSSU
Gifts to Lake Superior State University provide critical support for students, faculty, and programs. Decide how you would like to give to LSSU from the options below.
What to Give
The most common way to make a donation to LSSU is an outright gift of cash in the form of a currency, check or by credit card payment. Checks should be made payable to the LSSU Foundation along with a General Pledge Form or notation on your check’s memo line indicating your gift designation.
Currency (US or Canadian), Personal Checks, Money Orders and Bank Drafts
Please make your check payable to “LSSU Foundation”
650 W Easterday Avenue
Sault Ste Marie, MI 49783
Electronic Funds Transfer (EFT)
Your gift can be automatically deducted, on a monthly basis, from your checking or savings account no matter where you bank. Electronic Funds Transfer Form
Stocks & Securities
A gift of appreciated stocks is an unique way to give to Lake Superior State University. If you are considering a donation through a stock or securities sale, there are many tax advantages.
Among the many potential tax advantages, you’re entitled to a federal income-tax charitable deduction when you file an itemized return. When the donated items have been held for 12 months or longer, you may claim a deduction for their full fair-market value, and after appreciated securities are donated, you avoid paying tax on the capital gain.
For depreciated stock and securities, it is generally advisable not to donate them but rather to sell them to establish a tax loss and then donate the proceeds to Lake Superior State University.
Note: Always seek the advice of your tax consultant to maximize your benefits.
How do you donate stock and securities to LSSU?
Contact your broker with the following information:
Edward Jones Investments
939 East Portage Avenue
Sault Ste. Marie, MI 49783
The DTC number is: 0057
Our account number is: 498-03736-1-9
Our tax identification number is: 38-2576021
Here is a sample of a stock transfer letter: Sample Stock Transfer Form
NOTE: An electronic transfer of stock to the LSSU Foundation will NOT identify the donor at the time of trade. Please help us to give you proper credit and acknowledgment by notifying us of your donation
It is the policy of the LSSU Foundation to sell stock upon receipt.
We can accept a wire transfer from your bank to ours (long time LSSU supporter, Central Savings Bank, Sault Ste. Marie, Michigan, handles all of our wire transfers. Please contact the LSSU Foundation Office (906) 635-2665 for wire transfer instructions.
Gift In-Kind (Non-cash Charitable Contributions)
A gift-in-kind is a voluntary contribution of property other than cash and marketable securities. Gifts-in-kind may include items such as supplies, equipment, books or artwork. A gift-in-kind contribution will be accepted by the LSSU Foundation only if it can be used to advance the mission of Lake Superior State University.
For Faculty and Staff:
Your first step is to contact the director of Risk Management to evaluate if LSSU can accept the gift for educational purposes.
Secondly, if the donor wants to take a Charitable Contribution for their gift-in-kind, contact the LSSU Foundation to verify that the donor has the proper documentation and is eligible to receive a tax deduction as allowed by IRS guidelines.
In order to process the gift-in-kind donation, a Gift In Kind Form must be completed. A University representative and a Foundation representative must sign the paperwork or it is not officially accepted by the University. If not formally signed, the donor will not receive the proper gift receipt and acknowledgment for tax purposes.
The LSSU Foundation requires a donor correspondence or description of the gift-in-kind with an estimated fair market value determined by the donor on all gifts-in-kind. An appraisal is required for gifts valued at $5,000 or more and a completed IRS Form 8283.
IRS Publication 561 is designed to help donors and appraisers determine the value of property that is given to qualified organizations. It also explains what kind of information you must have to support the charitable contribution the donor claims in his or her return.
The donor must have the required paperwork completed within 120 days of the University’s receipt of the gift in order to receive proper credit regardless when they file their taxes.
Gifts of $1 to $4,999: The donor provides a written description and a fair market value of the gift. The value may be based on documentation (i.e sales receipt or valuation based on similar items listed on reputable sites – i.e. Ebay, Amazon) to verify value.
Gifts of more than $5,000: The donor must provide the LSSU Foundation with an appraisal from an independent and qualified source. It is the donor’s responsibility to complete the required forms and provide any related appraisal documentation or costs in order to receive the proper deduction.
The LSSU Foundation will submit Form 8282 to report information to the IRS and donors about dispositions of certain charitable deduction property made within three years after the donor contributed the property. IRS Form 8282 and Instructions
When considering a gift-in-kind donation, please contact the LSSU Foundation and tax advisor before donating the in-kind item.
If you would like to extend your support of Lake Superior State University Foundation to make a lasting impact, there are several gift arrangements to choose from.
Whether you would like to put your donation to work today or benefit us after your lifetime, you can find a charitable plan that lets you provide for your family and support LSSU Foundation.
Corporate Matching Gifts
When you take advantage of your employer’s corporate matching gift program, you can double or triple the amount of your original donation to LSSU.
Each company has its own guidelines for employees, spouses, and retirees. Most matching gift procedures are easy to do:
- Request a Matching Gift (MG) Form from your company’s human resources department.
- Complete and submit the form to the LSSU Foundation along with your gift. (or mail the completed MG form upon submitting your online gift)
- LSSU Foundation will complete its portion of the form and return it to the company for approval.
- The company issues a matching gift contribution to your LSSU chosen designation.
- Your contribution has now doubled its impact on the Lake Superior State University educational experience!
Send your completed matching gift form with your personal gift to:
650 W Easterday Avenue
Sault Ste Marie, MI 49783
Memorial gifts to Lake Superior State University is a fitting way to honor the memory of a loved one or friend.
Envelopes for memorial gifts can be obtained by calling the LSSU Foundation office at 906.635.2665 or by email request: email@example.com
Suggested wording for the obituary announcement:
“Memorial gifts may be directed to the (designated fund) – LSSU Foundation, 650 W Easterday Ave, Sault Ste. Marie, MI 49783.”
This option is exclusively for the faculty and staff of Lake Superior State University.
Giving to LSSU is made easy for employees through a payroll deduction option. This allows employees to give directly from their paychecks to support programs that enhance the mission of the University. Employees can designate to a fund of their choice whereby their gift is deducted per each pay period (minimum biweekly deduction of $5).
When choosing to donate through payroll deduction to a specific University program, please contact the Foundation Office at x2665 to insure there is a designation* to meet your gift intent.
To sign-up for payroll deduction, employees simply complete the Payroll Deduction Form and submit to the Human Resources Department.
*A new payroll deduction fund may be created when five (5) or more employees make gifts to a particular cause that meets the mission of the University and LSSU Foundation.
Pledge to support LSSU
A written pledge agreement gives you the opportunity to make a substantial gift to LSSU and to create the gift payment schedule that fits your funding ability. You may designate your gift/pledge to any academic or athletic program, endowment, or campaign you wish to support. The pledge agreement states your intention to contribute a specific amount over a specified period of time.
You may use our Donor Gift/Pledge Form or simply send a letter in writing indicating your gifting plan. In the statement please provide the following information:
- Phone number
- E-mail address
- Gift Designation
- Pledge/Gift amount
- Gift payment plan*
Please mail the completed form or letter to:
650 W. Easterday Avenue
Sault Ste. Marie, MI 49783
*Pledge reminders will be sent to you on a regular basis based on the pledge payment plan.
Individual and Corporate Sponsorships of particular donor recognition or fundraising events is the difference whether these events “break even” or make these events possible.
Sponsorship recognition varies with the amount of underwriting.
Annual Event Sponsorships include:
- Bud Cooper Memorial Golf Classic – Usually held in the fall for the benefit of men’s basketball
- Lake State Golf Classic – Usually held in early summer for the benefit of academic and athletic scholarships.
- The President’s Dinner – Usually held in early November to recognize the giving to the University as the premier recognition event.
- The Scholarship Donor Recognition Brunch – Usually held in conjunction with Great Lake State Weekend this event recognizes the contribution of people, organizations, and companies in the establishment and on-going giving.
- The Athletic Academic Dinner – An event held in the spring to recognize the academic accomplishments of athletic scholars. Athletic scholars are allowed to invite a professor to this event. This event will not be held without an individual(s) or business willing to underwrite the event.
- Great Lake State Weekend – Annual Gathering of the Alumni of the University. Many opportunities to sponsor a part of this event.