University Policy 2
Naming Opportunities and Gift Recognition
Initially Approved: May 2, 2012
Policy Topic: Advancement and External Affairs
Administering Office: University Advancement
I. POLICY STATEMENT
Kettering University from time to time honors individuals or organizations by naming after them buildings, part of buildings, scholarships, programs, professorships or other campus spaces, positions, programs or activities deemed appropriate by the University Advancement and Relations Committee of the Board of Trustees upon the recommendation of the President. Because a name is usually given in perpetuity, the University seeks to ensure that those who are so honored are worthy and that the purposes of the gift are consistent with Kettering’s mission and strategic priorities.
Periodically, the President recommends to the University Advancement committee of the Board of Trustees a list outlining the level of gift that would qualify donors for particular naming opportunities. On rare occasions, upon the recommendation of the President, the Board of Trustees might choose to so honor someone who has given the University outstanding service or whose gift has not met the prescribed level.
Recommendations for naming opportunities should be submitted in writing to the Vice President for University Advancement and the President. If the naming opportunity meets the level of gifts previously approved by the Board of Trustees, the President makes the final decision except in the following cases in which the President recommends to the Board of Trustees:
- The naming of an entire building
- The naming of a school, department, institute or center
- Instances when the naming opportunity honors service rather than philanthropy
- Instances when the gift does not meet the prescribed level
III. DETAILED IMPLEMENTATION PROCEDURES
A. Recommended minimum gift levels for naming opportunities:
- New and renovated buildings: one-third of the cost of the project unless otherwise approved by the Board of Trustees upon the recommendation of the President. The donor’s name will be for a period of forty years, the typical life of an academic facility before major renovations will be necessary. The donor may choose to include a provision to make the naming of the building in perpetuity with an endowment gift for ongoing maintenance or renovations. The maintenance endowment will insure the facility remains in good condition and continues to meet the needs of the university and that the donor will be proud to have his or her name associated. A renovated building: one-third percent of the cost of the project unless otherwise approved by the Board of Trustees upon the recommendation of the President.
- New faculty position: The minimum gift necessary for an endowed chair that creates a new faculty position is $3 million. The gift necessary to name the chair will be determined by the endowment needed to fully fund the salary, benefits, and any research laboratory and any other expenses necessary from the annual distribution.
- An endowed chair for an existing position: $1.5 million to be awarded for a five-year non-renewable term to a current Kettering faculty member.
- An endowed professorship: $600,000 to be awarded for a five-year non-renewable term to a current Kettering faculty member;
- An endowed scholarship: a minimum of $25,000;
- An endowed fellowship for graduate students or faculty: a minimum of $300,000
- An endowed lecture series: a minimum of $500,000;
- The minimum amount to endow an academic department is $5,000,000. The gift must be transformational in nature for that department. The amount will be determined by the President based on the size of the department and the impact of the annual endowment distribution to the unit’s academic, research and outreach programs.
- Endowed center or institute: amount to be determined by the President;
- Endowed program (e.g. student summer research, AIM, FIRST Robotics): amount to be determined by the President based on the size of endowment needed to cover salaries and program costs and the transformational nature of the gift.
- The amount necessary to name laboratories, conference rooms and classrooms will be at the discretion of the President and determined by the proportional costs of the building construction as well as the furnishings and equipment for the space and an endowment fund; insuring that the named space keeps pace with technology.
B. Naming Limitations:
- Kettering University is the ultimate owner of all properties and programs, regardless of their name.
- Naming Gifts may be pledged over a 5-year period. Naming gifts that do not require immediate distributions may be included in a donor’s estate plan. Exceptions may be approved by the President for extraordinary gifts. Distributions from endowment funds will commence one-year following the fulfillment of the pledge unless a donor makes an additional annual commitment to provide the funding necessary.
- Should a named building be demolished or significantly renovated, the University will offer the donor another opportunity for naming.
- In the unlikely circumstance when a donor fails to follow through on a commitment, to maintain the high standards of the institution upon which the original honor was based or for other reasons deemed appropriate by the President and Board of Trustees (for example, if the circumstances of the named individual or organization should in any way stand to have a negative impact on the reputation of Kettering University), even though the donor has completed his or her philanthropic obligation, the University retains the right to revoke the name. The removal must be approved by the Kettering University Board of Trustees.
IV. POLICY REVIEW
This policy shall be reviewed and revised as necessary every four (4) years. These policies may be amended only by approval of the Kettering University Board of Trustees.
IV. RELATED POLICIES AND RESOURCES