These gifts are intended to:
Depending upon the gift’s amount and the visibility of the proposed named space, the review and approval of naming gifts shall be conducted:
Upon approval, naming gift opportunities may then be discussed with potential donors and the external constituents. Upon successful gift completion, the President will provide naming gifts updates and information to the Regents.
A gift of at least 50% of the total and approved project costs (including all design, engineering, site and landscaping expenses as well as costs related to furniture, fixtures and equipment) of a new or renovated facility is highly recommended for a facility naming opportunity. Additionally gifts comprising 50% CAE/cash of the total and approved project costs should have been received by Pacific prior to the start of the project’s construction. Naming gifts should also be irrevocable and not include deferred gifts (counting towards project costs). It is also highly recommended that such naming gifts include an amount (approximately 15%) that may be used for the facility’s maintenance and operations endowment.
Individual room/space naming opportunities will be established in advance of beginning the fundraising initiative as part of the initiative’s naming target.
Pacific’s recommendation is to have these individual/space namings (and their respective gift amounts) uniform across the University. University Development will be pleased to provide assistance and recommendations based upon similar namings across the university. Naming gift opportunities will be reviewed on a case-by-case basis.
Pacific has a formula for existing facility naming opportunities based on the facility’s square footage (please see Naming Opportunities Formulas below).
This formula places a premium on the existing facility’s/space’s visibility and exposure. University Development will create and maintain a list of unnamed existing facilities with their associated naming levels to provide assistance with gift naming amounts.
Naming gift opportunities will be reviewed on a case-by-case basis.
Naming Opportunities Formula
Naming opportunities are recommended to remain as simple as possible and,at the same time, to provide uniformity across the University for similar namings.
The following chart may be used as a guideline to name existing non-renovated spaces:
* Actual multiplier may be higher (determined on a case-by-case basis)
This formula’s intent is to provide guidelines for spaces of similar function and size across the university. University Development will also maintain an ongoing list of namings, gift amounts and gift dates across the university that may also be used for comparison purposes.
The stated value per square foot ($100) is a sample baseline value to be used only as an example. Actual values will be determined in consultation with the Vice President for Budget and Finance at the time of the initiative’s planning regarding existing construction costs at the university.
The use of space clearly affects the value of that space. The recommended multiplier is meant to enhance the value of high-traffic, high-exposure spaces while allowing lesser values for other, less prominent spaces such as individual offices, for example.
The gift level set for the naming of an academic unit will be established in consultation with the Board of Regents.