A unique way to give to Lake Superior State University is through the transfer of appreciated stocks and securities. Whether in a “bull” or a “bear” market, stocks are a good way of giving.
If you have held the stock for just 12 months, giving stock will provide you with:
A charitable deduction at the full fair market value of the stock regardless of what price which you purchased it at.
An elimination of any capital gain tax related to the sale for this tax is waved.
In order to take full advantage of the tax benefits it is best to give stock that has increased in value from your original purchase price to get the full tax advantage. If your stock is less than your original purchase price, it is better to sell the stock yourself, claim the loss, and give the proceeds to LSSU.
How do you give stock and securities? Tell your broker to contact our broker.
Our current broker information:
Bill McLeod
Edward Jones & Company
939 East Portage Avenue
Sault Ste. Marie, MI 49783
906-632-4985 (office)
877-222-4065 (fax)
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: click here
It is very important that you contact the LSSU Foundation to notify us of your stock transfer so that we can give you proper and timely acknowledement of your gift.
Note: It is the policy of the LSSU Foundation to sell stock upon receipt.
The Lake Superior State University Foundation was founded in 1983 and makes its home at the Lukenda Alumni House, one of the original Fort Brady Row Houses at the eastern end of campus. The Foundation oversees a vast amount of scholarship activities, events and other philanthropic activities to help educate the public on various ways to give to Lake Superior State University.
Lake Superior State University Foundation
650 W. Easterday Ave
Sault Ste. Marie, MI 49783
