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  • 1.  Gift agreement language for named spaces

    Posted 08-14-2019 12:56 PM
    Erin, I suggest you peek at the Naming Policies found at the FundSvcs.org download site. If anyone has policies or templates to share, please do and I will add them to the site! John John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Wed, Aug 14, 2019 at 1:51 PM Genide, Erin <egenide@colum.edu> wrote: > Hello colleagues, > > I am drafting a gift agreement for a donor who will be recognized with a > named space on campus. It's been recommended that we add language to > preserve a right to terminate the naming rights if the donor defaults on > the required payments. Looking to see if anyone is willing to share sample > language that used in gift agreements. > > Thank you, > Erin > > Erin Genide > Director of Donor and Alumni Services > Development and Alumni Relations > > Columbia College Chicago > 600 S. Michigan Avenue, Suite 400 > Chicago, IL 60605 > egenide@colum.edu > Direct: 312-369-7589 > Department: 312-369-7287 >


  • 2.  Gift agreement language for named spaces

    Posted 08-14-2019 05:52 PM
    Hello colleagues, I am drafting a gift agreement for a donor who will be recognized with a named space on campus. It's been recommended that we add language to preserve a right to terminate the naming rights if the donor defaults on the required payments. Looking to see if anyone is willing to share sample language that used in gift agreements. Thank you, Erin Erin Genide Director of Donor and Alumni Services Development and Alumni Relations Columbia College Chicago 600 S. Michigan Avenue, Suite 400 Chicago, IL 60605 egenide@colum.edu Direct: 312-369-7589 Department: 312-369-7287


  • 3.  Re: Gift agreement language for named spaces

    Posted 08-14-2019 05:54 PM
    Erin- we have ours set up so that the gift agreement says the recognition is pursuant to our Naming Opportunities Policy. We are still updating the policy but therein will be language about ethics, non-payment, etc. I am interested to see what everyone else has! Lisa M. Johnson Manager, Development Services The Valley Hospital Foundation Phone: 201-447-8427 Cell: 973-865-4797 Ljohnso7@valleyhealth.com
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  • 4.  Re: Gift agreement language for named spaces

    Posted 08-15-2019 10:15 AM
    Erin, We add a section to the gift agreement that specifies what is being named, how it will be named and that the naming may be removed if we don't receive the gifts by the date specified on the gift agreement, if the space ceases to exist or if keeping the naming would compromise our reputation. That last piece gives us the flexibility to remove the naming if, for example, the donor were convicted of a serious crime and we no longer wanted a space or program at our institution to be associated with the name. While the language we utilize was drafted for use in naming physical spaces, we have also utilized it, with slight modifications, in instances where a donor wants to name a Center or Institute that does not have a dedicated office or space. "Naming Recognition. In recognition of the Donor’s generosity in providing the Gifts, [INSTITUTION] shall name the [NAMED FEATURE] within the [FACILITY NAME] the [DONOR SPECIFIED NAME]. The [NAMED FEATURE] shall hold the Donor’s name until such time as the [FACILITY NAME] is substantially renovated or is no longer used by [INSTITUTION] for the same or substantially similar purpose as it is originally intended; or such naming otherwise becomes impossible or impractical. If for some reason the Gifts do not total at least $__________________ by [PLEDGE DEADLINE], [INSTITUTION] reserves the right to remove the name from the [NAMED FEATURE]. In such a case, [INSTITUTION] shall provide recognition commensurate with the total amount of the Gifts received by [INSTITUTION] for the [FACILITY NAME] from the Donor by [PLEDGE DEADLINE], but only to the extent such recognition is available at that time. Additionally, if at any time, circumstances change substantially so that the continued use of the name may compromise public trust, [INSTITUTION] may remove the name. The name will not be removed without the approval of the President and Board of Trustees of [INSTITUTION] and notification of the Donor." Hope this helps. Karin Carrero Director of Gift Processing DePaul University


  • 5.  Re: Gift agreement language for named spaces

    Posted 08-15-2019 12:01 PM
    Honorary naming opportunities at ISU are required to be approved by the ISU President and the Board of Regents, State of Iowa. We include language in our naming agreements that specifies the commitment is a binding commitment, as well as language that gives us the right to revoke any honorary naming opportunity if continuing the use of the naming would be damaging. Here are the two sections: Binding Commitment. The parties acknowledge that ISU and ISUF are proceeding in reliance on the performance of the Donors in satisfying the Gift obligations accepted herein, and that this Agreement constitutes a binding commitment of the Donors (and if deceased, their respective estates) timely to make the Gift payments set forth above. Limitations. All honorary naming opportunities at ISU are limited for the duration of the applicable facility’s useful life or until continued use of the facility in its current condition has become impossible or impracticable. ISU reserves the right to revoke any honorary naming opportunity if the President of ISU or the Board determines reasonably and in good faith that continuing use of the honorary naming would be seriously and substantially damaging to the reputation of the Board or ISU, contrary to applicable law, or seriously and substantially inconsistent with the policies, procedures or strategic objectives of the Board or ISU. Best of luck! Shawnna Murphy Senior Director of Gift Administration Iowa State University Foundation
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