Naming Rights: Legacy Gifts and Corporate Money

About the Author xi

Introduction xiii

1. Escalating Price Tags For High-Profile Properties 1

High-Profile Naming Opportunities in the Nonprofit Sector 2

Named Schools of Business 2

Health Care and Escalating Naming Gifts 14

$100 Million Naming Rights: Entitlement or Need? 19

Trend in Named Gifts to Universities 19

Private Sector: Escalating Price Tags 24

Baseball Stadium Naming Rights 25

Football Stadium Naming Rights 30

Basketball Arena Naming Rights 35

Hockey Arena Naming Rights 35

Golf Tournament Sponsorships 43

The British are Coming! The British are Coming! 44

2. Naming Traditions, Then and Now 49

Big Rocks Tossed into a Small Pond 52

Theory of the Capital Campaign Multiplier Effect 52

"Named in Honor of..." —A Tradition Fading Fast 54

Three Types of Naming Rights 56

Naming Rights for a Legacy Gift 57

Changing Traditions 60

A Sign of the Times 67

Today's Wealthy Americans and Named Properties 68

Naming Rights for a Long-Term Corporate Partner 69

3. Impact of the Internet on Naming Rights 75

Leveling the Playing Field 75

Internet Trends for Nonprofit Web Sites 77

Advanced Donor Relations Strategy 78

Naming Rights in the Campaign Web Site 80

Shopping List Approach 81

Descriptive Text Approach 83

Naming Rights Policy Statements 84

Implementing Advanced Donor Relations Tactics 85

Legacy Gift Naming Rights 87

Internet and Corporate Naming Rights with Nonprofits 88

Online Search Tips for Tracking Naming Rights 90

4. Legacy Gifts in a Nanosecond Society 97

Into the Digital Looking Glass 99

Electronic Compression of Naming Rights 100

Naming Rights Ripple Forward in Time 102

Billion-Dollar Campaign Legacy Gift Opportunities 103

Examples from the University of Pittsburgh 2008 Naming Opportunities 103

5. Naming Rights and Endowment Gifts 109

Crunch the Numbers, Enjoy the Cash Flow 111

The History of the Endowed Chair 114

An Endowed Chair is a Valuable Property 116

Emerging Trends in Endowed Chairs 118

Diversification of the Endowed Chair as a Naming Rights Commodity 119

Differentiation of the Endowed Chair in Higher Education 120

6. Manager’s Toolbox for Naming Rights 125

Using the Manager's Toolbox for Naming Rights 126

Working through the Naming Rights Checklist 127

Historic Named Gift Survey 127

Review Donor Relations/Stewardship Policies 131

Develop a list of Naming Opportunities 134

Naming Policy Statement 139

Institutionalize Naming Rights Policies 152

Getting It Done 153

Research the Market, Create Benchmarks 154

Naming Rights Agreement 156

Review and/or Develop Web Site Strategy 158

Demographics 161

Pricing Strategies 162

Celebrate Leadership Named Gifts 168

Stewardship 169

Going Another Mile 170

7. Corporate Naming Rights with Strings Attached 173

Benefits of Corporate Sponsorship 175

Getting to Yes with a Corporate Partner 176

Three Tiers of Corporate Naming Rights 177

Managing the Naming Rights Properties 178

A New York Naming Bonanza 180

Marketplace Defines Dollar Values 182

Length of Term Depends on the Property 183

Bundling the Naming Rights for Corporate Partners 184

8. Where to Next for Naming Rights? 187

Growth Potential for Naming Rights 188

Appendix 191

Index 223