Contact: Katryn Conlin, Director of Communications
651-385-6364 [email protected]
For Immediate Release
Anonymous donor gives $217,000 to Minnesota State College Southeast Foundation to support student scholarships at Winona campus
Winona, MN (June 6, 2024) -- One of the largest-ever single gifts has been made to Minnesota State College Southeast Foundation, college officials announced today.
A gift of stock worth approximately $217,000 was received by the Foundation, designated for student scholarships at the college.
"We are thrilled to accept this amazing gift," said Jennifer Hawkins, Executive Director of the Southeast Foundation. "We are grateful for donors like this, who value Minnesota State College Southeast and recognize the importance of supporting our students."
The donor, who preferred to remain anonymous, specified that the gift be used to establish a scholarship fund for Southeast students who are pursuing a degree or diploma from a program based on the Winona campus. To qualify, students must reside in Winona County.
"Oftentimes people assume they can only make a gift of cash or money to a non-profit. They may not realize they can donate stock or other assets such as real estate," said Casie Johnson, Director of Stewardship and Foundation Operations. "There are all kinds of avenues to give."
People may be concerned that such gifts require a lot of paperwork and phone calls, but Casie Johnson said, "It's just one form to fill out. We are happy to work with all kinds of donations."
In the case of a stock donation, there are also significant tax advantages. By making a gift of stock rather than selling it and donating the proceeds, the donor avoids capital gains taxes.
"It's like extending the value of the gift by 15 to 20 percent," explained Casie Johnson. "In addition, the full fair market value of the stock qualifies as a tax deduction."
"A gift like this will make an impact on students at Southeast for generations to come," said Jennifer Hawkins. "On behalf of our students, we want to express our gratitude for such profound generosity. We are truly thankful."
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About Minnesota State College Southeast
Located in the historic river towns of Red Wing and Winona, Minnesota State College Southeast is a community and technical college that provides a flexible, affordable, inclusive, and equitable college environment and offers a clear sense of direction to all students. College faculty and staff genuinely care about students' end goals, whether that be earning an academic award, transferring to university to complete a bachelor's degree, or attaining career skills. Minnesota State College Southeast is a member of the Minnesota State system.