2025-12-23T15:16:42-07:00 2025-06-30 990 2024-07-01 382576021 LAKE SUPERIOR STATE UNIVERSITY FOUNDATION LAKE 9066352665 650 West Easterday Avenue Sault Ste Marie MI 49783 Scott P Smith Vice President of Advancement 9066356217 2025-12-23 1 2024 2025-03-06 01:10:19Z Scott P Smith 650 W Easterday Ave Sault Sainte Marie MI 49783 12389270 0 X foundation.lssu.edu X 1983 MI The Lake Superior State University Foundation's sole purpose is to promote, receive, manage, and disburse donations and contributions for the benefit of Lake Superior State University. 17 17 0 0 0 0 2099060 3833128 0 0 885350 4800104 0 0 2984410 8633232 1822322 2508840 0 0 279635 272843 0 0 17915 254699 178772 2356656 2960455 627754 5672777 28609201 32743972 48785 23009 28560416 32720963 The Lake Superior State University Foundation exists for the sole purpose of promoting, receiving, managing, and disbursing donations and contributions for the benefit of Lake Superior State University. 0 0 2508840 2508840 0 The Lake Superior State University 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. 0 0 0 2508840 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 1 1 1 1 0 0 0 1 1 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 MI X Lake Superior State University 9066352056 650 West Easterday Sault Ste Marie MI 49783 Sharon Dorrity Secretary of Board/Coord Donor Relations 40.00 0.00 X 0 43944 0 Scott P Smith Vice President of Advancement 7.06 32.94 X 0 29690 0 Edward F Smith Chair & Executive Committee 0 0 X 0 0 0 Carol Andary Board Member-Executive Committee 0 0 X 0 0 0 Brittany Barrett Board Member 0 0 X 0 0 0 H James Bourque Emeritus 0 0 X 0 0 0 Joseph Breed Board Member-Executive Committee-Secretary 0 0 X 0 0 0 Jennifer Brown Board Member 0 0 X 0 0 0 Anthony Damiano Board Member-Executive Committee 0 0 X 0 0 0 Megan Fenlon Board Member 0 0 X 0 0 0 Jason Garvon Board Member 0 0 X 0 0 0 Ted Haapala Board Member 0 0 X 0 0 0 Robert Kjolhede Board Member-Executive Committee 0 0 X 0 0 0 Ashley O'Dwyer Board Member 0 0 X 0 0 0 Thomas G Robinson Board Member 0 0 X 0 0 0 David Saunders Board Member 0 0 X 0 0 0 Charles Schmidt Board Member-Executive Committee 0 0 X 0 0 0 Ken Williams Board Member 0 0 X 0 0 0 Michael Wyse Board Member 0 0 X 0 0 0 Maurice Walworth Treasurer 0 0 X 0 0 0 Dr David Travis Second Vice Chair 0 0 X 0 0 0 Kevin Cooper Board Member 0 0 X 0 0 0 Tim Lukenda Board Member 0 0 X 0 0 0 0 73634 0 0 0 0 0 0 0 0 34256 22400 0 3776472 19094 3833128 0 643828 0 0 643828 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7887525 0 3731249 0 4156276 0 4156276 0 0 4156276 24789 34256 24789 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8633232 0 0 4800104 2508840 2508840 0 0 0 0 0 0 73802 0 73802 0 0 0 0 0 138771 0 134300 4471 12761 0 12761 0 38747 0 38626 121 8762 0 8762 0 0 0 0 0 13935 0 13935 0 11156 0 11156 0 0 0 0 0 0 0 66732 0 66732 0 0 0 0 0 1237 0 547 690 19508 0 18081 1427 9924 0 9924 0 0 0 0 0 22400 0 22400 0 2175 0 2175 0 0 0 0 0 23879 0 13343 10536 0 0 0 0 0 0 0 0 0 0 0 0 1662 0 1662 0 Liquor License 54 0 54 0 Annuity Payments 3638 0 3638 0 Filing and License to Solicit fees 190 0 190 0 Memberships 2390 0 2390 0 -108 0 -778 670 2960455 2508840 433700 17915 402268 993592 2570205 2646579 806399 1502099 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 24830329 27601702 0 0 0 0 0 0 28609201 32743972 36710 7619 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12075 15390 48785 23009 X 411200 368270 28149216 32352693 28560416 32720963 28609201 32743972 5672777 -1512230 0 0 0 0 X 0 1 X 1 0 X 2037141 2692809 2413692 2077540 3810728 13031910 0 0 0 0 0 0 0 136848 328210 21520 22400 508978 2037141 2829657 2741902 2099060 3833128 13540888 2286501 11254387 341210 405687 497382 560849 643828 2448956 0 0 0 0 0 0 0 0 0 0 0 0 15989844 0.70385 0.67516 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24272000 387008 3212928 951860 3657 0 26916419 21444979 731397 2988161 888721 3816 0 24272000 19098582 543327 2699126 878440 17616 0 21444979 22134240 1395509 -3663313 762352 5502 0 19098582 16367012 997361 5453878 678508 5503 0 22134240 0.43 0.57 0 0 0 0 F 0 F Mutual Funds 27521273 F Marketable Securities 80429 F 27601702 0 Accrued Vacation Benefits 15390 15390 X 7121002 -1512230 0 0 0 -1512230 8633232 0 0 0 8633232 2960455 0 0 0 0 0 2960455 0 0 0 2960455 Schedule D, Part V, Line 4 A portion of the earnings on the majority of the endowment funds is for scholarships for the students of Lake Superior State University. A portion of the earnings on the rest of the endowment funds is for operational support for Lake Superior State University programs. Schedule D, Part X, Line 2 Accounting Standards Codification ("ASC") Topic 740, Accounting for Uncertainty in Income Taxes, prescribes the recognition threshold and measurement attribute for disclosures of tax positions previously taken or expected to be taken on an income tax return. The Foundation analyzes its filing positions in the state jurisdictions where it is required to file income tax returns, including tax years 2022 through 2025 in these jurisdictions. The Foundation also treats interest and penalties attributable to income taxes, and reflects any charges for such, to the extent they arise, as a component of operating expenses. The continued application of ASC Topic 740 has had no significant impact on the Foundation's financial statements. Lake State Classic Golf 59045 34256 24789 0 950 0 3997 0 19842 0 0 59045 34256 24789 0 950 0 3997 0 19842 24789 0 1 Lake Superior State University 650 West Easterday Avenue Sault Ste Marie MI 49783 381880022 501(c)(1) 2489746 19094 determined by donor or appraisal books, supplies and small equipment Scholarships and grants to the students of Lake Superior State University; funding for various educational activities carried out by Lake Superior State University; operational support for athletics; and support for Lake Superior State University operations. 0 0 Schedule I, Part I, Line 2 The organization staff maintains contributor files which include the restrictions on the use of the contributions and the organization staff works with contributors to develop criteria as needed. The University is required to apply for the funds. The organization staff reviews the applications; verifies funding; obtains Vice President of Advancement approval; and processes the grants to the University. Form 990, Part VI, Section B, Line 11b The 990 is prepared by an accountant and reviewed and approved by the Vice President of Advancement. The Development and Data Coordinator assists in the review. Form 990, Part VI, Section B, Line 12c All Board of Directors sign a conflict of interest statement annually and they provide any conflict of interest in writing to the Foundation staff. Any hint of conflict of interest is reviewed by the Foundation staff and the Executive Committee of the Board of Directors. Form 990, Part VI, Section B, Line 15 Associate Vice President of Human Resources & Chief Human Resources Officer of Lake Superior State University looks at comparable position salary when determining the salary range for new or existing positions. The actual salary offered also depends on the current candidate's qualifications. Existing employees complete an annual evaluation. For new positions, the employment contract or job description is written, reviewed, and approved by the President of LSSU as well as by the Vice President of Advancement. The last new hire was for the Development and Data Coordinator (11/24/2024). Form 990, Part VI, Section C, Line 19 The governing documents and conflict of interest policy are made available upon demand. The annual financial report is included in the Annual Financial Report for Lake Superior State University which is published on its web site. Lake Superior State University 650 West Easterday Avenue Sault Ste Marie MI 49783 381880022 Educational Institution - Four Year Public University MI 501(c)(1) N/A 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 1 Lake Superior State University b 2508840 Application, availability, review and approval. An extension was applied for and granted.