SECTION I. PURPOSE
The College of St. Scholastica offers donors the opportunity to name designated St. Scholastica assets in recognition of qualifying philanthropic gifts. From time to time, St. Scholastica also may name designated assets to honor a person without an associated philanthropic gift. The purpose of this policy is to establish expectations regarding the naming of St. Scholastica assets, with or without a philanthropic gift, and the solicitation of donor gifts that include naming opportunities.
SECTION II. POLICY SCOPE AND APPLICABILITY; POLICY APPROVAL
This policy governs the naming of all St. Scholastica assets, as defined below. The expectations set forth in this policy apply to all St. Scholastica students, employees (faculty, staff and student workers), contractors and volunteers, and all schools, divisions, departments and other units, including athletic teams and alumni and student clubs and organizations.
Approval of this policy and any amendments are reserved to the St. Scholastica Board of Trustees or its authorized committee(s), which are referred to in this policy as the Board. The policy may be amended at any time at the Board’s discretion.
SECTION III. DEFINITIONS
For purposes of this policy, the following terms have the following meanings:
- Asset means any St. Scholastica property, organizational unit or position, program or fund that can be named, including but not limited to schools, programs, centers and institutes, deanships, chairs, professorships, faculty fellowships, scholarships, lectureships, awards, buildings, facilities, plazas, gardens, other physical spaces or portions thereof, and other College property.
- Donor means any person (which may include one or more individuals and/or a corporation, foundation, or other organization) who makes charitable gifts or irrevocable pledges to St. Scholastica or its subsidiaries.
- Honoree means any person (which may include one or more individuals or a corporation, foundation, other organization, or a St. Scholastica alumni class) whose name is applied to an asset pursuant to this policy. In the case of assets named by a donor, the honoree may be the donor or another person or persons designated by the donor in accordance with this policy.
SECTION IV. NAMING AUTHORITY
The Board has ultimate authority to approve the assets available to be named and the naming of assets. The Board has delegated authority to identify assets that may be named and the naming of specific assets to the President, except as otherwise set forth in this policy. No commitment regarding the naming of any asset may be made prior to approval of the naming in accordance with this policy.
SECTION V. MINIMUM STANDARDS APPLICABLE TO ALL NAMING PROPOSALS
Naming of an asset will be approved only if the naming, in the determination of the approving authority, (a) is consistent with the mission, vision, and values of St. Scholastica; (b) will not subject St. Scholastica to risks or costs it is unwilling to accept; and (c) meets all other qualifications set forth in this policy for the applicable naming opportunity.
SECTION VI. HONORARY NAMING
Honorary naming may be approved from time to time, without a philanthropic gift to St. Scholastica, to recognize an honoree’s extraordinary contributions or service to St. Scholastica or other meritorious qualities that are consistent with the College’s mission, vision, and values.
The President has authority to approve honorary naming proposals, other than honorary naming proposals for schools, buildings and other physical facilities, which are subject to approval of the President and the Board. Honorary naming proposals must have prior approval of the authorized approver(s) before discussion with the potential honoree.
Honorary naming proposals may be submitted to or initiated by the President. Proposals submitted to the President must be accompanied by a statement in support of the proposal, together with any supplemental materials the proposer believes to be relevant. The President may advance proposals that, in the President’s judgment, meet the applicable naming standards and would, if approved, benefit St. Scholastica. The President is not required to advance a submitted honorary naming proposal.
Honorary naming proposals advanced by the President will be submitted for consideration and recommendation to the President’s Cabinet for consideration and the appropriate governance or advisory group such as Faculty Assembly, Staff Council, or the President of the Benedictine Sisters Benevolent Association (Prioress). The President may seek additional input at the President’s discretion, including, if desired, establishing an ad hoc committee to consider the proposal.
Honorary naming is temporary in nature. Assets with honorary naming may be renamed at the discretion of the authorized approver(s).
SECTION VII. NAMING OPPORTUNITIES ASSOCIATED WITH PHILANTHROPIC GIFTS
Donors may be granted the opportunity to name assets in connection with charitable gifts as set forth in this policy. The granting of a naming opportunity associated with a gift must be set mforth in a properly executed pledge or gift agreement that has been approved by the President.
Naming opportunities associated with philanthropic gifts will be reviewed by the College Naming Committee and subject to final approval by the President. The Naming Committee will consist of the Vice President for College Advancement (chair), the Vice President for Finance, the Vice President for Academic Affairs, and other individuals as designated by the President.
The Vice President for College Advancement is charged with maintaining an inventory of donor naming opportunities.
A. Minimum Requirements Applicable to All Naming Opportunities Associated with Gifts
Unless otherwise provided in this policy or approved by the President, naming opportunities will be granted to donors only in connection with:
- Completed gifts to St. Scholastica that have been fully paid; or
- Irrevocable deferred gifts will be considered in extraordinary cases by the Board and are subject to the following additional conditions:
- The present-day value of the deferred gift commitment must equal or exceed the minimum gift amount required to qualify for the naming opportunity.
- The donor must also include a commitment to make annual gifts to St. Scholastica in amounts that fully replace St. Scholastica expenditures (e.g., debt service payments) due to the gift not being fully paid in advance or equal to spendable endowment income that is not available to St. Scholastica since the gift is not being fully paid (calculated using the College’s established endowment income distribution formula).
- The donor must continue to make the required annual gifts described in the preceding paragraph until the deferred gift is fully paid.
Exceptions to the minimum requirements will be considered by the Naming Committee on a case-by-case basis.
B. Identification of Specific Naming Opportunities
The Vice President for College Advancement, in consultation with the President and the College Advancement Committee of the Board, is responsible for determining minimum gift levels required to name spaces, schools, programs, funds, or positions. The Board reserves the right to adjust the minimum gift at its discretion. A current listing is available upon request from the Office of College Advancement. The list will be reviewed annually by the College Advancement Committee.
C. Temporary Naming of Positions, Scholarships, Lectureships, and Awards
Expendable (non-endowment) positions, scholarships, lectureships, and awards established with gifts may carry the name of a donor or honoree for a limited duration based on the number of years of expense covered by the gift. The duration of the temporary naming must be set forth in the gift agreement.
The amount of annual gift necessary to temporarily name a position, scholarship, lectureship, and award must meet the minimum amount for a similar endowment using the College’s established endowment income distribution formula.
Temporary naming that require a multi-year commitment by the College (e.g., multi-year scholarship awards) must be fully paid before the first award is made.
D. Naming of Colleges, Schools, Programs, Centers and Institutes.
Colleges, schools, programs, centers, and institutes may be named to recognize endowment and/or expendable gifts that provide annual operating funding in the amounts required to materially and sustainably subsidize the annual costs to operate the college, school, program, center, or institute as determined by the President taking into account factors the President deems relevant, which will include, without limitation, comparable market practices. These naming opportunities are a powerful affirmation of the donor’s relationship with St. Scholastica, and the quality of this relationship and the donor’s contributions will be carefully considered in relation to the asset proposed to be named.
E. Naming of Buildings, Other Facilities, and Spaces Within Them.
Buildings, other facilities, and discrete spaces within them (e.g., labs, lecture halls, seminar rooms, atriums, mezzanines, and other common spaces) may be named to recognize endowment gifts and, if required, expendable gifts that provide annual operating funding as provided below.
Naming proposals for whole buildings must additionally have the approval of the Board.
Naming proposals for discrete spaces within buildings or other facilities follow the normal approval process.
- New Construction.
- Except as provided below or otherwise approved by the President, the gift must be more than thirty-five percent (35%) of the total fundraising goal or project cost. If determined to be in the best interests of St. Scholastica, the Board of Trustees, at its discretion and upon recommendation of the President, may accept a naming gift for a lesser amount. St. Scholastica may also require an additional gift to create an endowment that will support not less than ten percent (10%) of the anticipated annual operating costs of the new building or other facility. Whether to require an operating endowment gift and the amount of such gift will be determined by the authorized approver following consultation with Facilities Services and using the established St. Scholastica endowment income distribution formula.
- Some buildings and other facilities generate a clearly defined revenue stream that can be used to reduce the cost of construction and/or the ongoing operational costs associated with the building (e.g., residence halls, research facilities, and health clinics). The Board reserves the right to reduce the minimum gift to name a building or other facility that has a clearly defined revenue stream.
- Naming of major facilities and entire buildings is considered to be permanent unless otherwise specified in the naming agreement.
- Renovation of Existing Structure. The gift must be more than fifty percent (50%) of the budgeted total project costs. There is no requirement for an operating endowment gift, provided that the renovation does not materially increase operating costs.
- Existing Structure with No Related Construction. For an existing structure with no related construction, the gift must be thirty-five percent (35%) or more of the replacement cost of the structure. There is no requirement for an operating endowment gift.
- Discrete Spaces Within Buildings and Other Facilities. Required gift levels to name discrete spaces within new, renovated, or unrenovated existing buildings will be recommended to the President by the Vice President for College Advancement. Minimum gift levels will take into consideration the visibility of the space to be named, the nature of the activity housed in the named space, the attractiveness and location of the space, an evaluation of the cost of building or replacing the space to be named, and the minimum gift levels required for other naming opportunities existing within the same structure or similar structures of similar age and quality.
- Additional Conditions for All Naming Opportunities Associated with New and Renovated Buildings and Other Facilities.
- All building and facilities construction and renovation projects must be approved through the College’s established capital project approval process.
- Prior to public announcement of the College’s intent to initiate a construction or renovation project that carries an honoree’s name, St. Scholastica must have on record the required, fully executed gift agreement or irrevocable and enforceable pledge agreement from the naming donor.
- Prior to groundbreaking or commencement of construction of a project that carries an honoree’s name, St. Scholastica must have received the completed gift or, if the naming project is associated with an irrevocable pledge, the first annual gift of spendable income as required by this policy.
F. Naming of Other Assets.
Gardens, quadrangles, lawns, trees, fountains, benches, operating funds, and other assets may be named in recognition of gifts in minimum amounts determined at the discretion of the President.
G. Replacement of Limited Life Assets.
Naming of discrete spaces, or other limited life assets, exists for the useful life of the structure, typically 30 years. After thirty (30) years, if the College seeks to renovate the space, the College may seek a new naming gift to assist with the construction and/or renovation cost. The original naming donor will have the first option to renew the naming opportunity. If the original donor passes on the opportunity, the College may present the naming opportunity to other donors. If a gift is received to re-name the space, the College will work with the original honoree, or their heirs, to name another appropriate space.
SECTION VIII. REMOVAL OR CHANGING OF NAMING ASSOCIATED WITH A GIFT
A. Initiation by St. Scholastica
St. Scholastica reserves the right to remove the name of an honoree from any asset if:
- The Board determines that the donor or honoree engages in conduct, or the Board becomes aware of past conduct, that is not reflective of the College’s Benedictine values or otherwise reflects unfavorably upon the good name, goodwill, reputation, or image of St. Scholastica.
- The donor fails to timely honor the donor’s financial or other commitments associated with the naming. In the case of an outstanding pledge for new construction, the named space may be recognized at the time of the building’s grand opening with the understanding that the recognition may be removed if the pledge is not paid in full.
Given the long life of a college, it is likely that a named building, facility, or other physical asset someday will be demolished, substantially remodeled, replaced, sold, or otherwise disposed of. Should this occur, St. Scholastica will review the circumstances and seek an alternative donor recognition opportunity that is consistent with the donor’s original intent.
B. Initiation by the Donor
On occasion, a donor may wish to change how that donor is recognized by removing, revising or changing the name of the honoree (e.g., a change in marital status results in a name of a donor or honoree). A naming donor may request that an honoree’s name be removed or changed by submitting a written request, rationale, and any accompanying supportive documentation to the Vice President for College Advancement who will make a recommendation to the President regarding the proposed change. The President (or the President’s authorized designee) has authority to approve requested naming changes at the President’s discretion. Any expenses incurred by St. Scholastica to change or remove the honoree’s name as initiated by the donor will be the responsibility of the donor.
SECTION IX. SIGNAGE
The Office of Marketing and Communications will design signage recognizing the honoree on or adjacent to named assets. Signage and collateral materials that reflect an approved naming will comply with St. Scholastica brand and campus design standards and will be commensurate with the size of the gift and other recognition standards.
Revision Approval Date: 10/24/2019
Approved By: Board of Trustees
Adoption Date: October 28, 2005
Relevant Form Names: Minimum Naming Gift Levels
Relevant Procedure Names: Naming Procedure