March 20, 2015 | Read Time: 1 minute
Negotiating a major gift that names a building, college, or school follows a similar protocol as the one used for endowment gifts at the University of Texas, but the process involves higher-level stakeholders as well.
“We have a pretty stringent process for prominent namings,” says Jan Hopson, director of gift planning services with the University of Texas System.
These highly visible gifts require the approval of the Board of Regents before fundraisers can offer a naming opportunity to a donor thinking about making a large gift. The University of Texas System’s Office of Development and Gift Planning Services coordinates with the board, the vice chancellor, and individual campus development offices that would negotiate the gift and coordinate the signing of the gift agreement.
“There might be some back and forth with an attorney before the signing, but that’s what we start with,” Ms. Hopson says of the template.
See the example of the template attached below.
