LSU Health Sciences Foundation FAQ
What is the LSU Health Sciences Foundation?
What is an institutionally-related foundation?
Are institutionally-related foundations the same as private foundations?
Why do public colleges and universities establish institutionally-related foundations?
Why do donors make gifts to college or university foundations instead of to the college or university itself?
How are institutionally-related foundations accountable?
What is an endowment?
How do I give to the LSU Health Sciences Foundation?
How will my undesignated gift be used?
Can I determine how my gift is used?
What kinds of gifts are tax-deductible?
Will I receive documentation of my tax-deductible gift?
Will my gift/name appear in printed publications?
Can I request anonymity when I give to the LSU Health Sciences Foundation?
How do I receive communications from the Foundation?
How do I find the LSU Health Sciences Foundation office?
How do I contact the LSU Health Sciences Center University Hospital?
What is the LSU Health Sciences Foundation? top
The LSU Health Sciences Foundation is a private 501(c)(3) nonprofit corporation with the sole purpose of supporting the LSU Health Sciences Center at Shreveport. Often, there’s a difference between the way the state can use funds and the way a private nonprofit foundation can use funds. This is why it’s a good idea to donate to the Foundation; the faculty and staff at the LSU Health Sciences Center will benefit much more and much more quickly from gifts given to the Foundation.
What is an institutionally-related foundation? top
Institutionally-related foundations are private 501(c)(3) nonprofit corporations dedicated to the support of a college, university, university system, school district or teaching hospital. Such a foundation’s primary purpose is to raise and manage private support for the institution with which they are affiliated.
Are institutionally-related foundations the same as private foundations? top
No. Although institutionally-related foundations are private rather than public entities, the IRS defines them as “public charities.”
While institutionally-related foundations typically hold and manage endowments like a private foundation, they do not take the lead in establishing funding priorities. The Chancellor or President of the college or university defines the institution’s mission and priorities, with guidance from the foundation concerning which projects or purposes are most likely to appeal to donors.
The interests of donors also determine the use that is made of funds held by affiliated foundations. A donor may direct that his or her gift be held as an endowment to fund a scholarship, chair, or other program in perpetuity or simply designate that their gift by used for a particular present purpose.
Why do public colleges and universities establish institutionally-related foundations? top
As private tax-exempt corporations, institutionally-related foundations can perform many functions more effectively than state offices. For instance:
An institutionally-related foundation provides a means of clearly separating state and private funds.
Many states mandate that public funds be invested according to low-risk, low-return strategies. Institutionally-related foundations can invest private gift funds far more profitably, increasing the revenue available to the primary institution.
Institutionally-related foundations are not subject to regulations governing the sale or purchase of property by the state and can perform these and other business transactions in a competitive and expeditious manner.
Institutionally-related foundations can develop for-profit subsidiaries such as research parks or real estate foundations that contribute to the mission and resources of the college or university while shielding the primary institution from the risks associated with such investments.
Many donors prefer to make a gift to a private rather than a state entity. By making a gift to an institutionally-related foundation, donors can support a public college or university and remain assured that their gifts will be invested profitably, distributed for the intended purposes, and not become confused with state appropriations or other funds.
A foundation provides an opportunity for a college or university to involve prominent business leaders, alumni, and other successful individuals who are willing to commit their time, resources, and talent to the support of the institution.
Finally, a foundation board can maintain a long-term perspective on the needs and priorities of the university.
Why do donors make gifts to college or university foundations instead of to the college or university itself? top
Donors often feel more secure making a major gift to a foundation governed by individuals with extensive legal, business, and financial management skills. Foundation trustees are recruited for their ability to raise and manage private support for the institution.
Foundation boards can ensure that gifts are used in strict accordance with donors’ wishes.
Foundations can also serve to safeguard the privacy of donors who may not want the details of their personal finances to become a matter of public record.
How are institutionally-related foundations accountable? top
As public charities, institutionally-related foundations are accountable to their donors, the students, faculty, staff and trustees of the institutions they serve, and the IRS. Foundation 990 forms and annual reports are routinely made available upon request. Click here to view financial information about the LSU Health Sciences Foundation.
What is an endowment? top
An endowment is a permanent fund of support for the purpose you specify. The principal is invested in order to achieve a return. Only the interest from the fund can be spent, not the principal that anchors the endowment. Essentially, the endowment is an ever-growing, perpetual source of funds for the LSU Health Sciences Center which never goes away.
How do I give to the LSU Health Sciences Foundation? top
There are a lot of ways to support the LSU Health Sciences Center at Shreveport through the LSU Health Sciences Foundation! Below are some of the most common.
Outright Gifts of Cash
Gifts of cash can be made by check or credit card (Visa, Mastercard, Discover, American Express). Click here to make a gift of cash to the LSU Health Sciences Foundation.
With Memorial and Honoraria giving, you can pay tribute to a friend or loved one with a gift that bears his or her name. A gift announcement is sent to the honoree or the family of the memorialized. Click here to memorialize or honor a loved one.
Gifts of cash may be pledged over a set period of time determined by the donor. To make a pledge to the LSU Health Sciences Foundation, please contact Chief Development Officer Kevin Flood at 318.861.0855 or email him at firstname.lastname@example.org.
Often, donors choose to establish an endowed professorship or chair, or to contribute to an existing endowment. These funds consist of a private portion of $60,000 (for a professorship) or $600,000 (for a chair). This portion is sometimes contributed by an individual; other times it’s a sum of all donations contributed by lots of private donors. The private portion is then matched by the Louisiana Board of Regents; they contribute $40,000 to a professorship or $400,000 to a chair to create an endowment.
The endowments exist in perpetuity; the principal remains intact and only a portion of the annual earnings is expended for the benefit of the institution.
Endowed professorships and chairs are crucial. They support the growth and expansion of LSUHSCS, as well as the research, education and patient care that the institution provides the surrounding community. Because these gifts are endowed, they will benefit LSUHSCS every single year.
LSUHSCS can benefit from planned gifts such as bequests, charitable remainder trusts, charitable gift annuities, or life insurance. Contact Chief Development Officer Kevin Flood at 318.861.0855 or email him at email@example.com.
Gifts of Stock/Securities
Assets such as securities, stock, and bonds can be transferred to the Foundation to benefit LSUHSCS. For more information, call Chief Development Officer Kevin Flood at 318.861.0855, or email him at firstname.lastname@example.org.
LSUHSC-S can benefit from a wide range of tangible personal property and gifts in-kind. These may include but are not limited to items that may be used to raise funds through auctions, event support or equipment that may be used by the LSUHSCS. For more information, call Development Director Sarah Teel at 318.861.0855, or email her at email@example.com.
Gifts can be made in support of a special event designed to raise awareness and money for the LSU Health Sciences Foundation. For more information, contact Sarah Teel at 318.861.0855, or email her at firstname.lastname@example.org. To give online to the LSU Health Sciences Foundation, click here.
How will my undesignated gift be used? top
Undesignated gifts are the one of the most effective ways to support the LSUHSCS. Unrestricted gifts allow institutional leadership to allocate funds where they are most needed.
Some ways in which undesignated gifts are currently being used include: providing a half million dollars annually to build and strengthen the orthopedics department, acquiring land surrounding the Health Sciences Center for future growth and expansion, and purchasing effective signage for the Health Sciences Center to increase visibility and name recognition in the community.
Undesignated gifts also support the following programs: Employee Excellence Awards, SUPER Program, Medical Student Summer Research Program, Graduate School travel for recruiting, student awards, and student receptions like the New Student Welcome, Family Day, Match Day, Graduation and New Residents.
Will my gift/name appear in printed publications? top
Unless you request otherwise, you will be listed in the appropriate category in the LSU Health Sciences Foundation’s Annual Report. Memorials and Honoraria will be listed in the appropriate issue of the Foundation’s quarterly newsletter; both you and the party honored or the family of the memorialized will receive a copy of the newsletter.
However, you CAN request that your gift be anonymous, or that your name not be listed in any publications. If you do request anonymity, the LSU Health Sciences Foundation will respect your wishes, and will refrain from listing or printing your name anywhere.
Can I determine how my gift is used? top
Yes! Gifts may be designated to a specific fund, department or program. Gifts may also be undesignated. Undesignated gifts allow the LSUHSCS to allocate funds where they are most needed.
What kinds of gifts are tax-deductible? top
All gifts are tax-deductible, as long as they are true donations in the sense that the donor receives nothing in return for the gift. If the gift in question is the purchase of an auction item or ticket to a charitable event, the value of the goods or services received will be included with the receipt so that the deductible amount of the gift can be calculated for tax reporting purposes.
Will I receive documentation of my tax-deductible gift? top
Yes. All gifts over $5.00 will be receipted. You will receive a gift receipt that has the applicable IRS language.
Can I request anonymity when I give to the LSU Health Sciences Foundation? top
Yes. If you request anonymity, the LSU Health Sciences Foundation will respect your wishes, and will refrain from listing or printing your name anywhere. Simply check the appropriate box on the donation form, or call the LSU Health Sciences Foundation at 318.861.0855 to request anonymity.
How do I receive communications from the Foundation? top
Click here to send us your contact information, or call the LSU Health Sciences Foundation office at 318.861.0855. Please include your name, address, email address, and phone number. We will be sure to add you to our mailing list, so that you will receive all invitations to events such as the Wellness Lunch & Learn series and the LSU Health Sciences Foundation’s quarterly newsletter.
How do I find the LSU Health Sciences Foundation office? top
Click here to view a map that gives our location relative to the LSU Health Sciences Center campus!
How do I contact the LSU Health Sciences Center University Hospital? top
Call 318.675.5000 to speak to someone at the hospital.