Naming Policy

Adopted by the Board of Trustees on May 18, 2012

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I. Statement of Policy

Loyola University New Orleans, through the Office of the President and in consultation with the President’s Cabinet, establishes minimum gift level amounts and approval guidelines for naming opportunities, as outlined in this document.

The gift levels are intended as minimum amounts necessary to name physical and academic entities at Loyola University New Orleans. Such minimums are important in order to ensure that the physical or academic entity has sufficient funds available to accomplish the mission of the program or function named by the donor.

This policy also establishes the Named Gifts Program Committee. (See Section V, B)

Loyola University New Orleans, through the Office of the President and, when appropriate, the Board of Trustees [see 2d paragraph of Section V.M.], reserves the right of final approval for the name(s) recommended for any of the opportunities in the sections that follow. University approval cannot be granted until the donor’s name or the name(s) of the person(s) being memorialized are known. In all cases, initial approval must be received prior to any formal solicitation in which any naming opportunity is contemplated, following the procedures outlined in this document.

Additionally, any gift that includes the naming of an endowment or physical space or academic entity or collection must be documented in a formal Gift Agreement. Policies and procedures related to gift agreements are contained in a separate policy document.

The selection process for holders of all endowed faculty positions is coordinated by the Office of the Provost and Vice President for Academic Affairs through specific faculty appointment policies which must, in all cases, be followed for such appointments.

The University may name physical and/or academic entities to recognize exceptional contributions, philanthropic or meritorious [honorific], which honor the University’s heritage and legacy. Naming must be consistent with the overall mission, vision and values of the University.

II. Purpose

It is the policy of Loyola University New Orleans to apply these guidelines for named gift opportunities in order to recognize

• those individuals, businesses, or organizations that have made exemplary or meritorious service contributions or enduring financial contributions to the University;
• those individuals, businesses, or organizations whose extraordinary accomplishments advance the University’s educational mission, its standing in the community, and/or its aesthetic quality.

This policy is intended to encourage private support through naming opportunities. In some circumstances, this policy allows structures, facilities, collections and academic entities to be named without a gift. This policy is consistent with the University’s strategic goal of maintaining fiscal responsibility in all operations, programs, and facilities.

III. Applicability

This policy applies to all situations in which a charitable gift is given with the intention of creating a named endowment or named physical entity (facilities including buildings and structures, interior spaces, landscapes, roads, etc.), academic entity (programs, endowed funds, academic positions, scholarships, schools and colleges on the various campuses of the University), or collection.

IV. Definitions

Academic Entities: All non-physical entities, to include: colleges, schools, academic departments, and academic centers, institutes, programs, public information presentations, laboratories, clinics, and equipment, as well as divisions, research centers, chairs, professorships, lectureships, fellowships, teaching awards and prizes.

Collections: Libraries or parts of libraries and other collections of significant size and continuing scientific, historic, artistic or cultural value.

Endowments: An endowment is a fund that can be established through gifts from private individuals, corporations, foundations, associations, and other organizations, so long as those gifts meet university guidelines on endowment minimums by type (below) and are accompanied by a signed Gift Agreement.

Endowments are invested to allow for the principal to remain intact (nonexpendable) in perpetuity, while a portion of endowment earnings are distributed annually to support the purpose designated by the donor(s) through a formal gift agreement with the University.

Endowments may be designated to benefit academic or non-academic positions, students, programs, physical space (buildings, facilities, and grounds, or portions thereof), or specific academic or non-academic departments and units. They are typically named after their donor(s) or a person(s) the donor wishes to honor.

Endowments may be established by a one-time gift, a series of gifts, a pledge paid over a period of a specific number of years, wills, trusts, gifts of appreciated assets, or by a combination of these. Gifts can be added to an established endowment at any time.

In certain instances, which must be outlined in a gift agreement, a specific amount of the gift commitment must be received prior to the actual naming of the position, program, building, space, or project.

Certain terms are commonly used with endowments. The National Association of College and University Business Officers (NACUBO) provides the following definitions:

Permanent Endowment: "Endowment funds are funds received from a donor with the restriction that the principal not be expendable." These endowments are only subject to modification as may be allowed by law and Loyola University New Orleans regulations. Establishment of any endowed fund requires a minimum gift of $25,000.

Quasi-Endowment: "A quasi-endowment fund is a fund that functions like an endowment fund but which may be totally expended at any time at the discretion of the governing board." This may be gift funds that the donor did not specifically direct for use as an endowment, or funds available to the institution from other sources that can be designated for an endowment. The funds are invested in the same manner as a true endowment and have the same payout provisions. Establishment of a quasi-endowment requires a minimum gift of $10,000.

Honorific: Conferring or implying honor or respect; generally defined as recognizing outstanding individuals distinguished in character or attainments.

Philanthropic: The act of philanthropy; generally defined as gifts to the University that have real or in-kind monetary value.

Physical Entities: All physical facilities and buildings, to include:

• Buildings or portions thereof – For example - laboratories, classrooms, seminar rooms, meeting rooms, lounges, wings, halls, floors, galleries; structures, including, but not limited to, athletic fields, athletic facilities, and other facilities such as wings of buildings or substantial parts of buildings, residence halls, large auditoria, concert halls, plazas, parks, fountains, gardens, natural landmarks, lawns, courtyards, walkways, pathways, parking facilities, roadways.

V. Procedures

A. Proposals for Naming: Proposals for naming of new physical and academic entities and collections, changing the name of an existing physical or academic entity or collection, or naming a previously undesignated physical or academic entity or collection, shall be considered by the Named Gifts Program Committee only upon submission of a written request by a Trustee, the President, or the appropriate Vice President, Dean or Department Chair of the respective academic area, to the committee. Recommendations of the general public may be considered when they are transmitted through one of the above named officials.

B. Named Gifts Program Committee: The Committee shall consist of the Provost, (or his/her designee), the Vice President for Finance and Administration (or his/her designee), the Vice President for Institutional Advancement, the Vice President for Mission and Ministry (or his/her designee), the Vice President of Student Affairs (or his/her designee), the Vice President of Enrollment Management (or his/her designee), a representative of the Office of General Counsel, in consultation with the appropriate Dean or Director for the structure or facility to be named. The Committee shall be chaired by the Vice President for Institutional Advancement.

C. Named Gifts Program Committee Guidelines: The Named Gifts Program Committee shall judge each proposal on its own merits. The Committee is empowered to establish guidelines that can include, but not be limited to the following factors: financial contributions made over a period of time or one-time gifts to the University, timeframes for payment of financial contributions, in-kind gifts to the University, the ability of a gift to stimulate gifts by other donors, duration of naming, dignity and significance to the University, honor to the donor, national and international reputation and achievement of the donor, exceptional contributions of an individual while employed at the University, distinction of the donor, whether the gift advances the reputation of the University, whether the gift increases the understanding and public support for the University program, expiration periods on naming, de-naming when an entity no longer meets acceptable University standards, de-naming upon demolishing and/or replacement of a facility, maintenance of records, background reviews on donors, valuation of physical space, marketing space, and timeframes for honorific naming.

D. Administration: For administration of this policy, the Named Gifts Program Committee shall review all proposals to name physical and academic entities and collections. The committee then forwards its recommendations to the President for his review. The President will forward to the Board when appropriate [see 2d paragraph of Section V.M.].

E. Honorific Naming: Under appropriate circumstances, Physical and Academic Entities and Collections may be named for individuals who have made exemplary or meritorious contributions to the University or society. A person being recognized by an honorific naming must have exhibited values consistent with the mission and vision of the University, must have an established relationship with the University, and must have contributed measurably to the good of society. The recognition afforded the honoree may also include private financial contributions related to the naming opportunity. Honorees may not be in active service at the University or hold elected office in the United States or abroad at the time of the naming, unless the circumstances are exceptional. At its discretion, the University may choose to name something after a donor even if it is not stipulated in the donor agreement but only after consultation with the person to be honored. When an individual is considered for an honorific naming, the proposal shall be reviewed and approved by the President.

F. Gift-Related Naming: A gift-related naming occurs when a donor makes a tax-deductible contribution of a significant level to the University and is recognized with a naming opportunity. Decisions regarding such recognition are made on a case-by-case basis in accordance with the approval process contained in this policy and any other applicable University policies, including the Gift and Pledge Policies and Procedures, and shall also take into consideration the total cost of the project, the availability of other funds and the level of financial contribution. All gift-related naming must be documented by a written donor agreement.

G. Naming Related to a Fund Raising Campaign: When a Naming is contemplated as part of a fund raising campaign, that campaign, the proposed naming and the associated private-fund contributions to be sought shall have prior approval of the President and, when appropriate, the Board of Trustees [see 2d paragraph of Section V.M.].

H. Corporate Naming: Each Corporate Naming must be approved by the President. The president will consult with the Board of Trustees when appropriate [see 2d paragraph of Section V.M.]. The Vice President for Institutional Advancement must complete a due diligence review of the corporation prior to any corporate naming. [See Loyola University New Orleans Gift and Pledge Policies and Procedures, May 18, 2012.] Each corporate naming must be analyzed by the Vice President for Institutional Advancement and the Named Gifts Program Committee to ensure that there are no conflicts of interest. Certain restrictions may also apply to any proposed naming of a facility financed with the proceeds of tax-exempt bonds. Any agreements shall be reviewed and approved by the Office of General Counsel. The University President shall have authority to sign such gift agreements.

I. Announcements: No College or Department shall announce the naming of any physical or academic entity or collection prior to the final approval required by this policy.

J. Permanence of Naming: The naming of physical entities is intended to be in place for the life of the specific physical entity. If, in the determination of the President and, if appropriate, the Board of Trustees [see 2d paragraph of Section V.M.], circumstances change so that the purpose for which the physical entity was established is significantly altered or if the physical entity is no longer needed or habitable, the President and, if appropriate, the Board of Trustees [see 2d paragraph of Section V.M.], in consultation with appropriate academic and/or administrative leadership and the donor(s), if possible, will determine an appropriate way to recognize the donor’s naming gift in perpetuity. If the University and the donor(s) previously established a Gift Agreement or contract that provides a practicable course of action, then that action shall be followed.

K. Removing a Name: Loyola University New Orleans naming opportunities shall bear only the name of individuals or entities that exemplify the attributes of integrity, character, and leadership consistent with the highest values of Loyola University New Orleans. If, in the determination of the President and, if appropriate, the Board of Trustees [see 2d paragraph of Section V.M.], those attributes are not maintained, the President and the Board of Trustees reserve the right to remove the donor’s/honoree’s name from a physical entity at any time. The President may approve removing a name from other entities (e.g., facilities within buildings, academic programs, chairs, scholarships, etc.).

L. Naming Considerations for a Pledge: If a naming will be the result of a total gift pledged to be paid over a period of years, the tying of the official naming must be clearly articulated in a formal Gift Agreement. Two options are:

1. naming will go into effect only after the pledge is fulfilled and the required total amount has been received by Loyola University New Orleans, or the (2) naming will go into effect immediately with a clear and documented understanding that the naming will be altered or removed if the full pledge is not paid in a mutually agreed upon time frame.
2. If the pledge is not fulfilled, but the naming has been authorized by the President and, if appropriate, the Board of Trustees [see 2d paragraph of Section V.M.], then this change must be reported to the Board of Trustees – through the appropriate committee – so that it can be reflected in the official minutes. If only partial funding is received that is less than the required naming threshold, yet sufficient for an alternative naming opportunity, the above procedures govern any renegotiation for a suitable naming opportunity.

M. Minimum Dollar Amounts Necessary for Naming:

General Considerations: Loyola University New Orleans establishes minimum gift level amounts and approval guidelines for naming opportunities, as outlined in this document. The gift levels are intended as minimum amounts necessary to name the respective fund, program, unit or space. Such minimums are important in order to ensure that the academic unit or program has sufficient funds available to accomplish the mission of the program or function named by the donor. Giving opportunities are based on benchmarking studies and are determined in conjunction with academic leadership and, if appropriate, the Board of Trustees [see 2d paragraph of Section V.M.].

For naming opportunities associated with gifts of $5,000,000 or greater, the president will confer with the Board of Trustees before granting approval.

Buildings and Other Facilities: Naming of buildings and other facilities must be approved by the President. The criteria for a gift-related naming will consider the value, visibility, improvements and marketability of the location and will be based on a minimum donation valued between 33 percent and 50 percent of the original construction, renovation, or current value of the property.

Areas within Buildings and Other Facilities: Naming of areas within buildings and other facilities such as, but not limited to, atriums, specific rooms, lecture halls, laboratories and workshops must be approved by the President upon the recommendation of Named Gifts Program Committee.

Streets: The naming of all streets located on the campus of the University or on a property owned by the University must be approved by the President upon the recommendation of the Named Gifts Program Committee. The naming of a street is a rare occurrence for which there is not an established gift requirement.
Real Property: Naming of real property must be approved by the President upon the recommendation of the Named Gifts Program Committee. Real property given to the institution may be named in consideration of the gift of the donor’s entire interest in the property.

Programs, Institutes, Centers and Other Organizations: Naming of programs, institutes, centers and other entities must be approved by the President upon the recommendation Named Gifts Program Committee regardless of the cash value of the gift.

Colleges and Schools: Naming of colleges and schools will consider the value, visibility, improvements and marketability of the college or school and must be approved by the President, upon the recommendation of the Named Gifts Program Committee.

Academic Positions and Faculty Excellence Funds: Naming of academic positions and faculty excellence funds must be approved by the President.

Financial Aid Funds (Scholarships): Naming of financial aid funds must be approved by the President.

Grounds, Outdoor Renovations, Gardens, Trees and Benches: Naming of grounds, outdoor renovations, gardens, trees and benches must be approved by the President regardless of the cash value of the gift.

Miscellaneous Naming Opportunities: Naming opportunities that are not otherwise set forth in this policy must be approved by the President regardless of the cash value of the gift.

Appendix A

Proposed Guidelines for Adaptation by the Named Gifts Program Committee:

A. Naming of Physical Space (Buildings, Facilities, Outdoor Areas, and Portions Thereof)

As delineated in the Naming Policy above, the President and, if appropriate, the Board of Trustees [see 2d paragraph of Section V.M.], will have final approval in any decision to name buildings or grounds. In consideration of such naming, the following guidelines will be followed:

1. When the naming opportunity concerns a new building or substantial renovation of an existing building, a donor will be required to provide not less than 33 percent to 50 percent of the total new construction, renovation or replacement cost, with 10 percent of the gift amount used to establish an endowment to support the overhead and maintenance of the facility. (Example: A building with a construction cost of $100,000,000 would require a naming gift of between $33,333,333 - $50,000,000. Of that gift, $30,000,000-$45,000,000 would be used for construction and $3,333,333-$5,000,000 of that sum would be dedicated toward endowment.)
2. For naming of improved outdoor areas (such as landscaping) the minimum required gift will be equal to the cost of the initial improvement project, with an appropriate portion of the gift dedicated to an endowment whose income would provide for the upkeep of the space.
3. If donated funds are for new construction or renovation/refurbishment, they will be directed to the actual cost. If, however, the donated funds are to establish naming for an existing building or space, their specific designation will be determined by the Dean in consultation with the Provost and President. These funds will typically support the unit or department supported by the building or space.
4. Naming of a building or an area requires a completed gift agreement and receipt of cash or assets that can be converted to cash immediately. Generally, buildings will not be named in honor of a donor in return for an estate commitment.

Naming of Colleges, Schools, Departments, Institutes, and University-Wide Centers

The President and, when appropriate, the Board of Trustees [see 2d paragraph of Section V.M.] will have final approval in any decision to name a college, school, department, institute, and university-wide center. In considering the naming of one of these important, socially valuable areas, it is critical that Loyola University New Orleans proceed with extreme sensitivity considering a number of factors in addition to the level of gift. Therefore, in consideration of such naming the following conditions must be satisfied:

1. Naming is already a well-accepted practice among the leaders nationally in the domain of the unit under consideration, or naming is so obviously compatible with the mission of the unit that Loyola New Orleans can be comfortable in taking the lead in setting a new pattern.
2. Any particular proposal for naming is clearly and broadly supported as being consonant with the reputation and aspirations of the unit. Critical voices, of course, include the dean; director or unit head; the faculty leadership; the alumni leadership of the unit; the administrative leadership of the University; and the Board of Trustees.
3. If naming is in recognition of a gift, the scale and nature of the gift should be such that the unit is enabled by the gift itself to improve its competitiveness materially. This criterion implies that the gift will allow the unit to undertake a well-defined series of program improvements that will elevate the unit into a more distinguished group of national peers.
4. The present value of any proposed gift should be used as the basis for testing the potential for material improvement through a well-defined program.
5. The background, character, reputation, and other qualities of the person for whom the unit is to be named are consistent with the reputation of Loyola University New Orleans.

Minimum Funding Guidelines for Naming Academic Entities

Listed below are minimum dollar amounts for naming opportunities. The donor shall give at least 50 percent of the gift prior to the official naming opportunity taking effect.

• One of the colleges within the University $20,000,000-$50,000,000
• A department or school within a college $5,000,000-$15,000,000
• An institute, program, or center within a college $3,000,000-$10,000,000

B. Endowment Funding Minimums by Type

The dollar amounts listed below represent the minimum funds needed for various sized programs. Depending on program needs and the donor’s objectives, higher amounts may be necessary to achieve the desired outcome.

Note on philanthropic funds matched by governmental funds:

The Board of Regents for the state of Louisiana encourages philanthropic support of scholarship and teaching through a matching gifts program for endowed chairs and professorships.

For endowed chairs, the minimum philanthropic investment at Loyola is $2 million.

For endowed professorships, the minimum philanthropic investment at Loyola is $100,000.

The Board of Regents encourages requests for matching funds at a 40:60 ratio of state matching funds to private donations. Upon receipt of a gift for an endowed chair or professorship, Loyola will apply to the Board of Regents for matching funds. As the matching gift process is competitive, there is no guarantee that Loyola will receive the matching funds.

Endowed Leadership Positions:
$5 million minimum gift—or more, depending upon the size and scale of the unit—is necessary.

Purpose: To provide discretionary funds to support the strategic vision of the academic or non-academic unit, as determined by the Dean, Director, or Vice President. In such cases, the position—not the person—is supported by the endowment.

Endowed Unit Director or Department Chairperson Positions:
$2 million minimum philanthropic gift—or more, depending upon the size and scale of the unit—is necessary.

Purpose: To provide discretionary funds to support the strategic vision of the unit, as determined by the Unit Director or Department Chairperson. In such cases, the position—not the person—is supported by the endowment.

Endowed Faculty Chair:
$2 million minimum philanthropic gift is necessary (to be combined potentially/possibly with a prospective $800,000 match from the Board of Regents).

Purpose: To recruit, retain, and reward superior faculty members. To enhance the faculty member’s scholarly efforts and/or research program. May also provide salary supplementation.

Endowed Faculty Professorship:
$100,000 minimum gift is necessary (to be combined with a prospective $40,000 match from the Board of Regents).

Purpose: To recruit, retain, and reward outstanding faculty members. To enhance the faculty member’s scholarly efforts and/or research program. May also provide salary supplementation.

Endowed Visiting Professorship:
$3,000,000 minimum philanthropic gift is necessary.

Purpose: To support outstanding, visiting faculty members. Intended to rotate to new visiting faculty on a pre-determined time frame. To enhance the faculty member’s scholarly efforts and/or research program. May also provide salary supplementation.

Endowed Faculty Fellowship:
$100,000 minimum gift is necessary.

Purpose: For any rank of faculty member. For research and teaching efforts, and for visiting scholars while in residence. May also provide salary supplementation.

Endowed Lectureship:
$50,000 minimum gift is necessary.

Purpose: To be used to support expenses associated with planning and implementing lectures in specific areas and/or on specific topics. Can pay administrative costs, publications, advertising, travel, and honoraria.

Endowed Scholarships:
$25,000 is necessary for a scholarship

Purpose: To support an undergraduate, law, or graduate student.
Academic merit may be a consideration. Financial need may be a consideration.
The donor may suggest other preferential criteria.

Endowed Book Fund:
$25,000 minimum gift is necessary.

Purpose: To purchase books, library technology, or other materials in a specified field. May also be used for preservation of books. May also be used for repair, cataloging, and other expenses of the library.

Program Support Endowments:
$25,000 minimum gift is necessary.

Purpose: To support specific or general programs of Loyola University New Orleans or of a particular unit/department. Can support areas such as faculty, staff, students, operations, research, etc. May be at the discretion of a Dean, Director, Unit Director, or Department Chairperson.

 

Endowed Laboratory:
$100,000 minimum gift is necessary, depending on the discipline and size and scope of the program.

Purpose: To be used for equipment, research, and general laboratory support.

Naming Through Non-Endowed Funds

Non-endowed funding commitments can, in certain circumstances, qualify for a naming opportunity. In such cases, it is critical that funding streams be committed to—in writing—for a period of no less than five years and that the annual funding amount is equivalent to the approximate payout of the corresponding established endowment minimum.

It is also necessary that the donor and Loyola University New Orleans establish—in writing—that the naming is to last no longer than one year after the end of the fiscal year in which the last payment was received.

Non-Endowed Professorship: To establish a term professorship without any provision for endowment requires a minimum gift commitment of $25,000, payable at a minimum rate of $5,000 a year for not less than five years.

Non-Endowed Lectureship: To establish a term lectureship without any provision for endowment requires a minimum gift commitment of $10,000, payable at the rate of $2,500 a year for a period of not less than four years.

Non-Endowed Scholarship: To establish a term scholarship without any provision for endowment requires a minimum gift commitment of $5,000, payable at the rate of $1,250 a year for a period of not less than four years.

Other Named Funds

The endowed funds and other funding requirements described above are listed because of their broad appeal to the donors of most colleges, schools, departments, and other units of the University. A variety of other purposes requires funding and offers numerous gift opportunities. Each college, school or department can establish named funds to support the particular activities of its programs so long as the endowment funding minimums stated above are observed and the approval procedures defined in this document are followed.

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