Lake Superior State University
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LSSU Foundation

LSSU Gift Acceptance Policy

Recognition

It is the Foundation sole responsibility to recognize and acknowledge all philanthropic giving to the Foundation and the University.

“Major Gifts to honor, memorialize, or otherwise recognize individuals shall be subject to the board of Trustees approval in advance of receipt:

  1. Naming of a building for a donor requires the prior approval of the Board of Trustees. The naming of a building having major renovations should follow the same policy as new construction. If a building is named already, the use of a hyphenated name may be considered.
  2. The naming of academic programs requires prior approval of the Board of Trustees.” Agreement 2.3.13

As a matter of course, any recognition program will be guided by:

  • the donor needing to be recognized appropriately for their giving
  • levels of giving are measured and consistent throughout the University
  • current United States Internal Revenue Service levels of quid pro quo or “the 2% rule”
  • a planned approach which integrates current, scholarship, capital, major, estate, and cumulative life time gifts and encourages every increasing giving.
  • A planned approach in the recognition of in-kind gifts and services.
  • Any recognition plans will have the approval of the Foundation Executive Committee prior to implementation. These plans will be reviewed annually and as needed. This recognition also includes any capital campaigns.

Recognition Societies and Program Levels

Lifetime Giving Societies:
Recognition of total lifetime giving

  • Great Lake Society: $1,000,000 or more
  • Lake Superior Society: $500,000 to next level
  • Lake Huron Society: $250,000 to next level
  • Lake Michigan Society: $100,000 to next level
  • Lake Erie Society: $50,000 to next level
  • Lake Ontario Society: $10,000 to next level

Names Scholarships:
Under a new foundation policy dated February 8, 2003, annual and endowed scholarships will be based on a portion of tuition, fees and other costs. These levels will be reviewed every 3 years.

Size of Scholarships

Annual

Endowed

Level 1: 25% of tuition

$1,200

$25,000

Level 2: 50% of tuition

$2,400

$50,000

Level 3: 100% of tuition

$4,800

$100,000

Level 4: Tuition, Room & Board

$10,500

$225,000

Memorials:
Any level until amount reaches Named Endowment 

Scholarship may also be named when donor uses the Endowment Builder ™ in order to create endowed scholarships.

Athletic Booster:

Laker Club:

  • President’s Level - $1,000
  • Alumni Level - $800
  • Coach Level - $400
  • Varsity Level - $100

Other recognition levels for athletic giving are currently under review.

Gift in Kind:
Gift in Kind gifts are recognized on a case-by-case bases as determined by the director of constituent relations.

LSSU Legacy Society:
The Lake Superior State University Legacy Society is established to honor and recognize those persons and entities that make a planned or estate gift to The Lake Superior State University Foundation, Inc. of Lake Superior State University. Membership is obtained upon completion of the LSSU Legacy Society membership application notifying LSSU of the contribution, bequest or other planned gift.

Professorships:

  • Endowed University Chair - $1.5 million
  • Endowed Academic Program - $3.0 million (inc. endowed chair and program funding)

All naming opportunities are at the discretion of the director of constituent relations and may be approved by the Foundation Executive Committee.
Any questions concerning recognition should be directed to Sharon Dorrity ’87, LSSU Foundation director of constituent relations, 906-635-2665 or sdorrity@lssu.edu.



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