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7.7.1 – Procedure – Gift and Grants Acceptance

Minnesota State Procedure

Part 1: Donations

All donations to Lake Superior College (LSC) are to be directed to the LSC Foundation. Donations includes monetary gifts, publicly traded securities, closely held securities, life insurance, planned gifts, memorials, and donations of real property. It also includes equipment, supplies, in-kind donations, and volunteer hours.

Part 2: Donated Equipment, Vehicles, Supplies, Goods, and Volunteer Hours

The Accepting Donated Goods & Equipment form is required for all gifts of equipment, vehicles, supplies, in-kind donations, and volunteer hours. All gifts for the college are to be directed to the LSC Foundation.

The Accepting Donated Goods & Equipment form is available from the Foundation Director of Institutional Advancement or Foundation staff.

Date Implemented: November 2006

Date Updated: September 8, 2014