Policy Title: Naming Rights Policy	Category: Administration
Owner: Vice President for Finance and Administration	Policy ID#: 2.05.00
Contact: Vice President for Finance and Administration Web: http://www.csupueblo.edu/vpFA	Effective Date: 6/10/2019 Supersedes Policy ID#: 2-005-002

Policy Statement:

All naming proposals are to be submitted to the Vice President for Finance and Administration (VPFA). The VPFA will forward all honorary, impactful and naming gifts valued at $250,000 and higher to the University Naming Committee (see below) which will forward both positive and negative recommendations to the president within 30 days. If the president approves the recommendation, the naming proposal will be sent to the Board of Governors (BOG) for formal approval. The VPFA will seek independent approval from the President for naming gifts valued at less than $250,000. These namings will not need approval of the BOG. The University will endeavor to maintain consistency in gift levels required for naming while at the same time recognizing that different constituencies may have different giving capacities and that projects vary in regard to visibility and perceived prestige.

Section 1: Responsibility

 I.  University Naming Committee (UNC):

 A.  Establishment

The University Naming Committee was established in 2013 pursuant with this policy, to serve an advisory role to the president for the naming of administrative units/facilities/interior and exterior spaces. The VPFA will direct all honorary naming proposals, impactful gift proposals and those valued at $250,000 and higher to the UNC.

 B.  Role 

1. Review naming proposals for compliance with naming policies, appropriateness, and concurrence with the mission of the institution.
2. Collaborate with institutional representatives overseeing the facility or program to be named in order to establish support from the primary users and stakeholders.
3. Recommend formal administrative units/ facility/interior and exterior space names to the president for their review prior to advancing for final approval by the BOG.

C.  Membership

The VPFA will serve as chair of the UNC.

Committee- President's Chief of Staff, Associate Vice-President of Facilities Management, Executive Director of Marketing, Communications and Community Relations, Colorado State University Pueblo Foundation representative, Deputy General Counsel, and a Faculty member selected by the President.

 D.  Meetings

 The chair will call meetings as needed with close attention to the BOG meeting schedule.

Section 2: Naming Guidelines

General Guidelines 

A.  Administrative units/facilities/interior or exterior spaces may be named for the following:

     1.  Individuals or organizations that have provided or have caused to be provided a significant contribution toward a project - new construction, major renovation, existing facility, academic and/or nonacademic program 

     2.  Individuals or organizations that have made impactful gifts to the University. An impactful gift may include any of the following qualities: 

1. Enhances the student experience;
2. Enrich affordability and accessibility;
3. Provide an enhanced work environment;
4. Serves educational needs of the community;
5. Promotes, cultivates, and encourages the stewardship of community partners.

      3.  Retired or deceased faculty or staff members who have provided distinctive service to the University and a) have been deceased for one year or longer; or b) have been retired, resigned, or otherwise separated from service of to the University for not less than one year; or c) had a long and illustrious career and exemplified values for which Colorado State University-Pueblo stands; and, d) brought great credit to the University through major scholarly, professional, or public service. If, however, a proposed naming is in response to a financial contribution, the requirement of a delay shall not apply.

      4.  Graduates, former students, or individuals who have provided distinctive service to the University and a) had a long and illustrious career and exemplified values for which Colorado State University-Pueblo stands; and b) brought great credit to the University through major scholarly, professional, or public service.

      5.  Living or deceased persons dedicated to the purpose, nature, and mission of the University who have achieved outstanding distinction through civic, intellectual, or artistic contributions to the development of the city, county, region, state, nation, and/or world.

B.  In gift-generated naming, pledges paid over a period of time, typically no more than five years, are acceptable for current naming of administrative units/facility/interior and exterior spaces

C.  Irrevocable planned gifts may generate current naming if current cash flow considerations are not an issue for the requesting administrative unit/facility/interior and exterior space. These gifts will be credited at their present value, and particular emphasis will be given to the predictability of the long-term value of the irrevocable deferred gift.

D.  The donor may ask that the administrative unit/ facility/interior and exterior bear their name or the names of family members or others the donor may wish to honor, subject to the approval by the UNC, the President and the BOG. The VPFA will discuss with the President the donor's intent before any commitments are made.

E.  In the event that the facility or administrative unit to be named involves multiple colleges, divisions, or departments, the heads of all associated organizational units must make a recommendation on naming opportunities and levels prior to submission to the VPFA and the UNC.

F.   In the instance of a corporate or organizational naming, additional due diligence should be taken to avoid any appearance of commercial influence or conflict of interest. Corporate logos as part of naming opportunities are generally prohibited.

G.  If a benefactor or honoree requests a change to the name of an administrative unit/facility/interior or exterior space (e.g. due to divorce or corporate merger), the UNC will consider the request and make a recommendation to the President, who will forward it to the BOG for approval. If approved, all replacement signage and other related costs shall be at the donor's or honoree's expense.

H.  The benefactor will not be given authority to control curricular or administrative matters related to the naming or University property usage.

Specific Guidelines

A.  Naming Administrative Units:

1.  Administrative units naming opportunities may include:

     a.  Academic units -colleges, schools, and departments;

     b.  Centers;

     c.  Institutes; and

     d.  Special units.

2.  Suggested gift amounts for administrative units

     a.  As a guideline, the naming gift should be a minimum of three times the annual total operating budget. National ranking and visibility of the unit, as well as naming gifts of peer units in the discipline or on the University campus should be considered in determining appropriate gift amount; and,

     b.  A portion of the gift shall be placed in an endowment for the benefit of the specific college, preferably with a portion of that amount in the form of an unrestricted endowment. The President, Provost and the Dean of the college or Director of the department shall determine what the portion will be based on the gift and the needs of the University. or

     c.  Be substantially, significant or impactful, even transformational in nature, enabling the college or department to improve its competitiveness or distinction.

B.  Naming Facilities:

1.  Facilities naming opportunities may include:

     a.  New facilities that are to be constructed or acquired;

     b.  Existing facilities that are undergoing major or minor renovation; or

     c.  Existing facilities that are not undergoing renovations;

2.  Suggested gift amounts for facility namings:

     a.  At least half of estimated total project cost for constructing or acquiring new facility;

     b.  At least half of estimated total project cost for renovating an existing facility; or

     c.  At least half of the estimated replacement cost of an existing facility not undergoing renovation as determined by Facilities Services.

The guideline is that a portion of these funds would be placed in an unrestricted endowment to benefit the college/department.

3.  Project cost is determined by square footage of facility to be named multiplied by the cost per square foot.

C.  Naming Interior and Exterior Spaces

1.  Interior and Exterior naming opportunities may include:

     a.  Interior spaces- rooms, laboratories, centers, or areas within new, existing or renovated facilities.

     b.  Exterior spaces- quadrangles, gardens, recreation fields, water features, walking/biking paths, etc.

2.  A guideline is that donors provide at least half of the project cost, which is to be determined by the square footage of the area to be named multiplied by the cost per square foot. Discretion may be given to the President for areas that would require a donation of less than $250,000.

Section 3: Duration of Namings

There are two different options for the duration of administrative unit /facility/interior and exterior space namings - perpetuity and term.

I.  Perpetuity

A.  Perpetuity is defined by the useful life determination provided by Facilities Management.

B.  The naming of an administrative unit/facility/interior and exterior space will be retained in perpetuity, unless:

     1.  A change is necessary to continue the appropriate recognition;

     2.  A major renovation/addition is funded with significant support from another donor and it is appropriate to alter the name; in which case the original donor will be notified in advance;

     3.  Demolition, replacement, redesignation of purpose, or similar modification to a named facility/administrative unit/ interior and exterior space;

     4.  The individual or organizationfor whom the administrative unit, facility, or interior or exterior space is named falls into disrepute; or

     5.  The BOG takes action to change the name in order to meet the best interests of Colorado State University-Pueblo.

II.  Term

A.  In appropriate instances, most often involving a corporate benefactor, an administrative unit/facility/interior and exterior space naming may be granted for a predetermined fixed term.

     1.  The gift agreement should clearly specify the period of time for which the facility or unit will be named.

     2.  Term namings are limited to terms of 10, 15, or 25 years. A 5 year option is permissible for naming administrative units.

     3.  Term namings are based on useful life of the named facility, typically, 50 years. Facilities Management will determine the useful life of the facility.

     4.  The term naming gift is factored over the specified term to generate at least the 50 percent or greater guideline over the useful life of the facility.

     5.  The subsequent term values will be determined once the initial term naming is established. The initial term value is determined by dividing the useful life of the facility by the term. 'The perpetual naming value is then divided by that number.

     6.  Subsequent term values are determined by the Future Value of Money formula -interest rate multiplied by years since initial naming established multiplied by initial naming cost, plus initial naming cost.

     7.  These guidelines can be adjusted by the UNC to determine appropriate naming terms.

B.  The naming of an administrative unit/facility/ interior and exterior space will be retained for its predetermined term, unless:

     1.  a change is necessary to continue the appropriate recognition;

     2.  a major renovation/addition is funded with significant support from another donor and it is appropriate to alter the name; in which the donor will be notified in advance;

     3.  demolition, replacement, redesignation of purpose or similar modification to a named facility/administrative unit/exterior space;

     4.  the individual or organization for whom the administrative unit, facility or interior and exterior space is named falls into disrepute; or

     5.  the BOG takes action to change the name in order to meet the best interests of Colorado State University-Pueblo.

Example

Facility with:      50-year useful life

$10 million naming value

10-year terms

Established 2013

Initial 10-year term naming would be $2 million - 50-year useful life divided by 10-year term=5 divided into $10 million = $2 million.

In 2023, a 10 year term naming would be $2.6 million determined by Future Value of Money formula - Interest rate (3%) x years (10) x Present value

($2 million) + Present value $2 million =$2.6 million.

In 2033, a 10-year term would be $3.2 million (3% x 20 x $2 million=$3.2 million)

In 2043, a 10-year term would be $3.8 million

In 2053,  a 10-year term would be $4.4 million

Total Value of term naming would be $16 million.

Section 4: Naming Process:

Step 1:

College/unit generates a list of naming opportunities based on criteria set forth in this policy and submits to VPFA. The VPFA will keep a master list of all campus naming opportunities - both available and already named.

If the naming gift meets the guidelines/ criteria, gift negotiations are allowed to be conducted with individual or organization in parallel with this process. However, to ensure clear communication, the proposing college/unit must inform the VPFA of ongoing conversations around naming gift.

If the potential naming gift does NOT meet the guidelines/ criteria set forth in this document, the naming proposal must be submitted PRIOR to gift negotiations with the individual or organization.

Step 2:

Naming request shall be made in the form of a written proposal. The proposing unit develops the proposal for submittal. The proposal must list the reason for the request, justification of the naming in accordance with the policy and guidelines/ criteria, and the amount of any donation or description of service or contribution that would accompany approval of the naming proposal. A submitted proposal triggers a background check. If the naming is an honorary naming or one valued at $250,000 or higher, the proposal must be presented to the VPFA for review by UNC.

If the naming is less than $250,000, the proposal is submitted directly to VPFA who will review, recommend, and seek presidential approval directly.

Step 3:

In reviewing the naming opportunity, the UNC will assess: (a) the relationship of the individual or organization to the institution; (b) the amount of the donation or value of the contribution; (c) an assessment of the donor's financial situation and the likelihood of fulfilling the pledge, if a donation is given partly as a pledge; (d) character of the donor; (e) potential for additional gifts or contributions from the donor, and (f) possible academic enhancement to the institution as a result of the donation.

Step 4:

The UNC will make a recommendation for approval to the president. A denial by the president is final. The VPFA will notify the appropriate college/unit of the president's recommendation. If the president approves the request, the UNC will submit the formal naming proposal for review by the chancellor, pursuant to CSU System and University policy, and forward to the BOG for consideration.

Step 5:

At the next scheduled BOG meeting, the naming proposal will be presented and the BOG will make a decision. If proposal is approved, president and VPFA will sign the Naming Policy Agreement along with other needed documentation (MOU, gift/ fund agreement). The VPFA's office will send executed documents to the proposing college/unit.

Step 6:

The college/unit will finalize documentation with all parties and work with campus entities to develop appropriate recognition and announcement.