West Lafayette Campus Policies
Guidelines for Naming Opportunities and Endowed Funds for the West Lafayette Campus (WL-8)
Volume WL: West Lafayette Campus
Issuing Office: University Development Office
Responsible Officer: Sr VP for Advancement
Responsible Office: University Development Office
Originally Issued: September 27, 2002
Most Recently Revised: November 18, 2011
TABLE OF CONTENTS
The president of Purdue University shall approve the establishment and activation of named funds upon the receipt of gifts as described below:
- The president of Purdue University will set minimum gift levels and establish guidelines for gift naming opportunities. The president will receive requests and will work with the Capital Projects Council to determine gift levels. The Board of Trustees is vested with final approval and will need the name of the donor or names of the person or persons being honored.
- The gift levels listed below are minimum amounts needed to name the respective opportunities. In most cases, gifts may be made outright over a multi-year pledge period, through a trust, or through a similar irrevocable instrument. It is the responsibility of the dean in consultation with the provost and the president to make appointments for all endowed positions.
- Endowments may be established at the $25,000 level. These guidelines suggest minimums where possible.
To set minimum gift levels and establish guidelines for gift naming opportunities.
- Vice Chancellors
- Vice Presidents
- Directors/Department Heads
- University Development Staff
- Business Office Staff
- Capital Projects Council Form 1 and 2
- Policy for Naming of New and Renovated University Facilities, University Policy II.B.3
Associate Vice President for Development (765) 494-6902
|Pledge||A pledge is a commitment to give a specific dollar amount according to a fixed time schedule.|
|Endowment||A gift of at least $25,000 to be invested for the purpose of producing present and future income. The income may be expended or reinvested with the original gift. Distributions of income from the endowment will be made based on the spending rate approved by the governing board through the endowment investment policy. Income is expended according to the donor’s stipulation and may be unrestricted or restricted.|
|Minimums||A gift of at least $25,000 unless otherwise stated is required to start an endowment fund.|
Potential Endowments and names are reviewed by the University Gift Acceptance Committee and/or the Planned Giving Office for approval before being signed by a donor.
Endowments may be established with gifts over a period of up to five years with income reinvested until the endowment minimum is reached.
Term Naming: Annual Gifts over five years equal to annual endowment earnings may be considered for naming during that term.
Facility Naming: Guidelines appear under the policy “Naming of New and Renovated University Facilities (II.B.3)."
- NAMED SCHOOL: A gift commitment for the general school endowment will vary with each school.
- NAMED DEANSHIP, DEPARTMENT HEAD: A gift commitment to endow the position will vary with each school, with a suggested minimum gift of $2 million to endow the position.
- NAMED CHAIR: A gift minimum of $1.5 million is required.
- NAMED PROFESSORSHIP: A gift minimum of $1 million is required.
- NAMED EARLY CAREER FACULTY FUND: A minimum endowment of $500,000 is required.
- NAMED UNDERGRADUATE SCHOLARSHIP: A gift minimum of $25,000 is required.
- NAMED GRADUATE FELLOWSHIP:
Partial Support: A graduate fund that provides annual support for graduate students pursuing a course of study or research. Funds are to be used for stipend, tuition, fees, books, supplies, professional development, travel, and equipment. The funds will be administered in accordance with department, college, and University policies. A minimum endowment of $25,000 is required, with a suggested endowment of $100,000.
Full Support: This fellowship is not to be used as payment for teaching, research, or service. A minimum endowment of $1 million is required.
- OTHER: Other school-based projects, such as directors, lectures, student enhancement, research, and facility funds, may be considered, and the amount will vary with each school.
All gifts must comply with these guidelines. Requests for special circumstances or exceptions should be given to the Gift Acceptance Committee, comprised of the president, provost, senior vice president for advancement, executive vice president and treasurer, and vice president for governmental relations.
November 18, 2011: Policy number changed to WL-8 (formerly IX.4.1).
February 1, 2008: Updates were made to dollar amounts and the Guidelines and Special Situations sections.
September 27, 2002: This policy is the first to formalize naming opportunities for endowed funds at Purdue University.