Foundation
The Foundation is the pivotal piece in Lake Area Tech’s ability to offer the next level of excellence – and also vital to making higher education financially attainable for many of our students. Further, the Foundation is important to Lake Area Tech’s long-term growth and stability by enhancing relationships with individuals and families, and business and industry for the benefit of its students.
Support Lake Area Tech
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Why Invest?
The Need:
- 84.7% of our students receive financial assistance
- 75% of our students work part-time or full-time while attending Lake Area Tech
- 31.6% receive the Federal Pell Grant
Strengthening the State and Region*:
- 99% of our 2023 Lake Area Tech graduates are employed or are advancing their education.
- 82% of our 2023 Lake Area Tech graduates chose employment opportunities in South Dakota.
Changing Lives & Launching Careers:
- Recent graduates earn 40% more than other new hires in the region!
- Providing opportunities to enable people to change their lives and launch careers means ensuring programs are current, relevant, and available to those who pursue them.
- Leadership and partnership will expand emerging technologies for our students and will increase training capacity for current students and future generations.
*Information based on our most current Placement Report.
Types of Support
Areas that need your Investment:
- Impact where it is most needed
- Unrestricted Funds
- Merit Award Program
- Equipment & Training Aids
- Campus Improvements
- Program Support
- Endowed Funds
- Designated accounts, created by contributors, that permanently establish scholarship awards or program support by utilizing the annual interest earned on the principal of the account. Endowed accounts create support in perpetuity. Generally endowed accounts are established with an initial gift of $15,000 or more.
- To honor this type of investment in Lake Area Tech, a special plaque displays the name of the account and its contributors on the Wall of Recognition.
- For information on creating an endowed fund contact the Lake Area Tech Foundation office.
- Donor Directed Funds
- Often times, contributors make annual gifts to the Foundation which are designated for scholarship awards or specific program support. Annual gifts provide donor flexibility from year to year.
Ways to Give
Lake Area Technical College continues to work hard to meet the growing needs of business and industry for a skilled workforce. Very few colleges throughout the country can say they have had a history of consecutive years of growth and a 99% graduate placement rate.
Our success is attributed to our exceptional faculty and staff, the great partnerships we have with business and industry, and amazing community and statewide support.
- As enrollment increases – the role (and the responsibility) of the Foundation increases!
- The Foundation received a record number of scholarship applicants this past spring demonstrating that the need for student scholarship opportunities continues to rise as well.
- Thank you for providing support to help ensure we have continually support our students at Lake Area Technical College.
Making a gift “Today”
Cash Gifts:
One of the most common gifts to the Lake Area Technical College Foundation is through a one-time cash contribution. Your gift can be designated to a particular scholarship, program or given as an unrestricted gift to be utilized where there is greatest need.
Memorials/Tribute Gifts:
A memorial or tribute gift is a wonderful way to honor a parent, mentor, or other loved one who has impacted you.
A Pledge:
Often, a donor can maximize the impact by pledging a gift amount to be made over a five-year period. The actual tax deduction of your contribution will vary due to your tax rate and other factors.
Below is a link to the Giving Calculator compliments of the Charity Navigator site.
“Simply enter the amount you’d like to give and your federal tax bracket (see chart). The calculator will display the net cost of the donation and the tax savings. You may be surprised to learn that you can afford to be even more generous than you thought.” Charity Navigator
Making a gift in the “Future” Lake Area – Legacy of Excellence Society
Thank you for your desire to support our students at Lake Area Technical College by helping us to meet the growing needs for the unique technical educational experience that Lake Area Tech provides. Lake Area Technical College’s Legacy of Excellence Society honors and recognizes the individuals who have chosen to support the institute through charitable gift planning.
Members of the Legacy of Excellence society share a strong common bond of generosity that collectively ensures the Institute’s continued excellence in technical education for the future.
Ways to Give
- Bequests – planned gifts that can be designated in your Will. You can designate an actual dollar amount or a percentage of assets; or your legacy gift could be in the form of personal property/assets.
- Charitable Gift Annuity
- Beneficiary Designations:
- Naming Lake Area Tech as a beneficiary for a CD, brokerage account, bank account, etc.
- Naming Lake Area Tech as a beneficiary on your Life Insurance Policy or Retirement Plan. Many people choose to name charitable organizations as final beneficiaries to reduce taxes while supporting the organization.
- Charitable Remainder Trusts: You can designate a specified amount of money in a qualifying Trust, which will provide income to you (and your spouse) for life. The principal will be paid to the Foundation upon your demise or upon a specified date.
- Gifts of Property – non cash property such as securities or real estate
- Gifts of Personal Property – In-kind gifts of equipment, material, supplies, vehicles, art, antiques, jewelry, etc.
Gifts of many different types are generously given to Lake Area Technical College each year.
Always contact your financial planner and/or tax preparer to advise you on planned gifts.
To name Lake Area Technical College Foundation as a beneficiary on any of your accounts, contact your bank, insurance company, legal counsel to determine whether a change of beneficiary form needs to be completed.
Making an IMPACT today and into the future:
If you have already included Lake Area Tech in your planning, please let us know so that we can include you on our Donor Wall and also have plans in place to carry through your wishes for your legacy gift.
Planned Giving . . . a gift to Lake Area Tech for the future, a gift that you perhaps are not able to give today!
Planned Giving . . . a gift that will strengthen workforce development in our local community, in South Dakota and the entire region for years to come.
