Illinois State University Foundation

IllinoisStateUniversity FoundationBoard Manual

Benefactor Naming of Funds, Positions and Programs Policy

General Policy: A donor or donors may name a fund, position, or program in honor or memory of someone the donor wishes to recognize in exchange for a gift, in an amount establishedby the Illinois State University Foundation. Naming opportunities, including the appropriate gift size, the funding plan and the manner in which the gift will be used, must meet with the approval of the University President, Executive Director of the Illinois State University Foundation, and the Development Advisory Committee.

Funding Requirements: Benefactor naming of fund accounts, positions and programs requires the establishment of an endowment (see Endowed Funds Policy). Only outright gifts (cash, securities, and real and personal property the acceptance of which has been approved by the Foundation)and written enforceable pledges for up to five years may be used to fully or partially fund a named opportunity at face value. Deferred gifts, including life insurance, do not qualify.

Procedure:The funding plan for a named opportunity must be in writing and on file with the Illinois State University Foundation and University Advancement. Naming requests will not be activated until agreed funding requirements are met and the permission to use the donor’s name is received in writing. The University President, Executive Committee of the Foundation, and the Executive Director of the Foundation retain the right to deny any endowed naming opportunity.

Naming recognition shall be restricted to one naming opportunity per qualifying gift.

Forfeiture of Naming: Forfeiture of a naming opportunity may occur when the Foundation’s or the University’s relationship with the donor or honoree is no longer positive, the donor does not fulfill the financial commitment, or the donor’s/honoree’s personal or business circumstances are such that affiliation with Illinois State is deemed inappropriate by Illinois State University or the Illinois State University Foundation.

In the event that a fund, position, or program name is no longer appropriate for Illinois State University, the same procedures that installed the name should be followed to remove the name, i.e., the request will be reviewed by the Executive Director of the Foundation.

Dollar Requirements: Gifts to establish named endowed funds for specific purposes must meet the minimum dollar requirements as set, and periodically reviewed, by the Foundation Board of Directors. Minimum dollar requirements for faculty positions will be set in consultation with the Provost’s Office.

Endowment Minimums

NamedGeneral Endowed FundMinimum: $20,000

Annual funding supporting areas, including scholarships, specified by the donor in the Endowment Agreement.(revised 12-07)

Dean’s Scholars/FellowshipsMinimum: $50,000

These funds provide a merit-based award to an undergraduate or graduate student as specified by the donor in the Endowment Agreement in conjunction with the University Scholarship Program(Not revised)

Alternative: Deans Fund—Fund for Dean to use to enhance his/her program

Provost’s Scholars/FellowshipsMinimum: $100,000

These funds provide a merit-based award to an undergraduate or graduate student as specified by the donor in the Endowment Agreement in conjunction with the University Scholarship program. The award is renewable for up to four academic years.(Not revised)

Presidential Scholars/FellowshipsMinimum: $250,000

Income from these endowed funds provides a merit-based award for an undergraduate or graduate student as specified by the donor in the Endowment Agreement in conjunction with the University Scholarship program. The award is renewable for up to four academic years.(Not revised)

Endowed Faculty Professional Development AwardMinimum: $250,000

These endowments provide an annual award to enhance teaching and research activities for faculty—includes research and related support for specified faculty.

**Endowed FellowMinimum: $300,000

A named endowed department fellow provides support for the professional development and activities of the fellow including travel, equipment, research assistance and summer research stipends.

Endowed University Lectureship or Lecture SeriesMinimum: $500,000

These endowments provide funding to bring guest lecturers to campus—Could include travel and honoraria, publication, and reception costs (revised 12-07)

**Endowed ProfessorshipMinimum: $500,000

A named endowed professorship provides income to apply toward the salary and teaching expenses of an outstanding faculty scholar.

**Campus-wide ProfessorshipMinimum: $2,000,000

A named endowed campus-wide professorship provides income to apply toward the salary and teaching expenses of an outstanding faculty scholar. The scholar must be a full professor in order to hold a University Professor appointment.

**Endowed ChairMinimum: $2,000,000

Income from the endowment provides support toward the professor’s salary and/or expenses related to extensive studies and/or research. The implementation of an endowed chair prior to the actual funding of the endowment will require the donor to bear at least one half of the annual cost of beginning the chair until such time as the endowment is fully funded.

Endowed ProgramMinimum: 75% of costs

To qualify for naming a program, the gift commitment must create an endowment large enough to provide annual income to fund at least 75% of the program’s yearly operating budget. A variety of purposes that require funding can be developed as gift opportunities (e.g. laboratories, centers, institutes, lectureships, honors programs, minority student programs, book fund, etc.) Additional approval from the Chair of the department and the Dean of the college is required.

Endowed DepartmentMinimum: to be determined

The minimum gift required to name a department or school at IllinoisStateUniversity will be determined by the Chair of the department/school, the Dean of the college, the University Provost, the University President and the Executive Director of the Foundation.

Endowed CollegeMinimum: to be determined

The minimum gift required to name a college at IllinoisStateUniversity will be determined by the Dean of the college, the University Provost, the University President and the Executive Director of the Foundation. Approval from the Board of Trustees is also required.

**NOTE: These required endorsement of Provost

Date of Board Approval: 02/02/08

Reviewers: Development Advisory Committee

Review Cycle: Every 2 years

Date of Previous Revision: 02/02/08

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