University policy regarding guidelines for naming endowments and facilities
(A) Policy statement. Pursuant to the powers reserved to the board of trustees through the bylaws stated in rule 3342-2-02 of the Administrative Code, the board reserves the sole right to name university buildings, other structures of a permanent nature, roads, and other specific areas. This policy shall provide for the minimum levels of support required for the naming of specified endowments and facilities. The provisions of this policy are further implemented in rule 3342-5-13.2 of the Administrative Code.
(B) Implementation: Naming of facilities.
(1) The authority to name permanently any physical facility rests with the university board of trustees. The board shall have authority for approving both gift and non-gift related naming proposals.
(2) The vice president for Institutional Advancement will coordinate the process for obtaining board approval after consultation with the board committee charged with development and external relations and after approval of the president. The following parameters will be used to determine if a gift meets appropriate naming thresholds:
(3) Minimum levels for facilities:
(a) New facilities: Thirty-three to fifty-one per cent of the cost of construction depending on source of total funds plus a ten per cent maintenance endowment.
(b) Renovations: Thirty-three to fifty-one per cent of the renovation cost depending on source of total funds, plus ten per cent maintenance endowment.
(c) Components of a structure: one hundred fifty per cent of actual square-footage cost.
(d) Courtyards, gardens, and other landscaping: one hundred fifty per cent of actual square-footage cost.
(e) Current facilities not under renovation can be named in honor of an individual with an appropriate gift as determined by the board committee.
(C) Implementation: naming of endowments.
(1) Minimum levels of support are required before an endowment is fully funded and can be allocated under the donor’s or designee’s name. Funds may be established with a one-time gift or predetermined payment plan (usually five years). A memorandum of understanding is required for all endowment funds, which states the purpose for which the money is given and needs to be signed by the donor or designee, the executive director of the Kent state university foundation and the president of Kent state university.
(2) Minimum levels of faculty support.
(a) Endowed chair: $2,500,000.
(b) Endowed Professorship: $1,000,000.
(c) Endowed Associate Professorship: $250,000.
(d) Endowed Assistant Professorship: $100,000.
(3) Minimum levels of student support.
(a) Undergraduate endowed scholarship: $25,000 to $500,000 (depending upon the scholarship level).
(b) Founder’s medallion scholarship: $100,000.
(c) Graduate endowed fellowship: $250,000to $400,000 (depending upon fellowship level).
(4) Minimum levels for other program support.
(a) Program funds: $100,000.
(b) Centers and institutes: $1,000,000.
(c) Schools and departments: $3,000,000.
(d) Colleges: $10,000,000 to $50,000,000 (depending upon size and stature of the college and circumstances of the gift).
(D) Powers reserved. This policy provides the minimum amounts effective at the approval of the policy. All amounts provided for are subject to negotiation and may include matching or irrevocable estate gifts. The board of trustees is ultimately responsible for the proper administration of all university gifts and naming of university facilities and endowments and may revise this policy as necessary to provide for the benefit of the university.
(1) This policy acknowledges that the power to name major programs, university buildings, other structures of a permanent nature, roads, and other specific areas rests with the board of trustees but that by its "Articles of Incorporation" dated December 27, 1965, the Kent state university foundation board of directors is charged with securing and managing all philanthropic gifts made for the benefit of the university.
(2) The board of trustees reserves the right to make final determinations in specific cases; to eliminate certain naming options; and to remove a donor’s name from a unit or facility when gift intent cannot be fulfilled or in other circumstances where removal of said name is deemed to be in the university’s best interests.
Effective: October 5, 2012
Prior Effective Dates: 11/10/1997, 2/12/2007, 6/1/2007