Gift Policy: Acceptance, Reporting and Naming
Purpose
The purpose of this policy is to articulate and outline the manner in which philanthropic gifts are considered, accepted and administered within Seton Hall University (the “University”). This policy enables the University to accept gifts from individuals, corporations, charitable foundations, and governmental or other entities in a manner that supports its mission and strategic goals.
Scope
The Gift Policy: Acceptance, Reporting, and Naming (the “Gift Policy”) is a University-wide policy.
Definitions
A. Gift is defined as a complete, voluntary transfer of assets from a person or an organization to the University where no goods or services are expected, implied, or forthcoming in return to the donor, except for certain planned gifts as outlined in this policy. Gifts usually take the form of cash, securities, real property, or personal property. The following criteria generally identify a gift:
1. Gifts are motivated by philanthropic intent.
2. Objectives may be stated and funds may be restricted to specific purposes.
3. The donor may make a restricted-use gift by designating a specific purpose.
The donor may also designate a gift for unrestricted use by the University or a particular
college, school, or unit.
4. Generally, funds received from individuals, closely held corporations, and/or
family foundations will be classified as gifts. Funds received from foundations, corporations,
and/or corporate foundations will be classified as gifts unless they require performance
or other considerations that may result in their being designated as sponsored research.
B. Programs include, but are not limited to, schools, centers, departments, and
other academic units; scholarships and fellowships; initiatives; funds; lectures;
and other forms of activity or funding associated with academic or extracurricular
programming.
C. Positions include, but are not limited to, faculty, administrative, coaching,
director, coordinator, and dean appointments, and any other status, job, or title.
D. Spaces include, but are not limited to, buildings, rooms, gardens, walkways,
courtyards, equipment, benches, and other physical structures or locations.
E. Units include all entities of the University, including, but not limited to,
groups, positions, and programs.
Policy
A. Gift Acceptance
1. General Information
a. All fundraising and constituent engagement activities on behalf of the University
must be aligned with strategic priorities of the University, and comply with local,
state, and federal laws and with University policies. Accountability for fundraising
and philanthropic engagement rests with the Division of University Advancement, and
all such activity by those within the scope of this policy must be in consultation
and coordination with the Division of University Advancement.
b. All gift solicitations on behalf of the University, or any unit within the University,
must be in accordance with the standards set forth in the Donor Bill of Rights (see https://afpglobal.org/sites/default/files/attachments/2018-10/DonorBillofRights.pdf), as developed by the Council for Advancement and Support of Education (CASE) and
other national organizations.
2. Considerations for Gift Acceptance
a. The University will make every effort to accommodate and accept all charitable contributions from donors. However, the University will not, in its discretion, accept gifts for reasons which include, but are not limited to, the following:
(1) Violate the terms of this Gift Policy;
(2) Violate a federal, state, or other law or regulation;
(3) Are too difficult or expensive to administer;
(4) Were acquired by other than legal means, or that clear title to the donated
asset does not flow directly from the donor to the University;
(5) Are too restrictive in purpose, or compromise the academic freedom of the University
community;
(6) Could create liability or cause the University to incur future unanticipated
or anticipated expenses;
(7) Are inconsistent with the University’s mission and values;
(8) Would jeopardize the University’s tax-exempt status; or
(9) Provide a donor with goods or services of financial value in exchange for the
donor’s gift, unless such value is fully disclosed in the time and manner as required
under federal and state law and regulations.
b. If a gift falls into one of the above categories or otherwise presents a concern,
the gift officer working with the donor will consult with the Vice President for University
Advancement, who will make a final decision regarding gift acceptance, in consultation
with the President and Board of Regents as necessary.
c. The acceptance of a gift does not mean or imply that the University endorses or
approves of the donor’s views, businesses, or other activities.
3. Authority to Accept a Gift
a. Authority to accept a gift to the University is vested in the University President,
who may delegate this authority to an appropriate officer of the University.
b. The President designates the Vice President for University Advancement as the University
officer with authority to accept all gifts to the University, provided the following
conditions are met:
(1) Any gift of $5,000,000 or more requires approval of the Board of Regents and
the President before acceptance.
(2) Any gift of $1,000,000 or more requires approval of the President before acceptance.
c. The Vice President for University Advancement may delegate authority to another University employee to accept a gift of less than $1,000,000.
4. Gift Designation and Restrictions
a. A donor may designate both the University recipient (e.g., a specific school,
department, or program) as the beneficiary of a gift and a purpose (e.g., scholarship,
fellowship, professorship, etc.) for which the gift is to be used.
b. If the donor does not designate a specific University recipient or purpose of
a gift, University Advancement will take reasonable action to contact the donor to
identify his or her intended designation. If the donor is deceased, as in the case
of a realized bequest intention, or otherwise unreachable, the Vice President for
University Advancement will consult with the President and determine how the gift
will be used by the University.
c. If the donor designates a specific University recipient but not a specific purpose,
the gift will be added to the University recipient’s general gift fund, or such other
fund as directed by the person responsible for the administration of gifts to the
University recipient.
d. If the donor designates a specific purpose for a gift without a specific University
recipient, the University will either add this restricted gift to a currently existing
fund with the same purpose or create a new fund for the specified purpose, as appropriate.
5. Types of Gifts
a. Cash Gifts
(1) Outright cash gifts can take the form of checks, credit cards, wire transfers,
or payroll deductions.
(2) Gifts of foreign currency will be valued at the U.S. dollar equivalent on the
date the gift is received.
b. Marketable Securities (Stocks and Bonds)
(1) The Division of Finance works with University Advancement on the acceptance
of all gifts of marketable securities.
(2) The University’s preferred broker determines the value of the gift.
(3) The Division of Finance must approve any request by a donor that Seton Hall
hold and refrain from selling a marketable security.
(4) Gifts of mutual fund shares are also acceptable.
(5) In cases where a stock gift is submitted to satisfy a documented commitment,
realized funds in excess of that commitment will be allocated to the same purpose
and booked as an outright gift.
c. Non-Marketable or Closely Held Securities
These securities include partnerships, limited partnerships, limited liability companies,
closely held companies, stock of entities that fall under SEC Rule 144, legend stock
or bonds of entities that are thinly traded, and stock of entities held for sale at
the request of a donor.
d. Virtual Currencies
(1) The University, in its discretion, may accept gifts of virtual currencies, including
cryptocurrencies.
(2) Potential gifts of virtual currencies are evaluated on a case-by-casebasis.
(3) As a condition to accepting the gift of virtual currency, the donor must first
confirm to the University that it is owned by the donor (and not a third party) and
was not derived from unlawful sources or activities.
e. Real Estate
(1) The University may accept gifts of real estate, such as residential, commercial,
apartment buildings, vacation properties, and undeveloped land.
(2) A gift of real estate may be declined by the University if it is deemed unfeasible
for any reason, including, but not limited to, environmental or other liabilities.
Feasibility will be determined through the University's due diligence and review process,
as directed by the Vice President for University Advancement, and will be at the sole
discretion of the University.
f. Bargain Purchases
In limited circumstances, the University may purchase an asset for less than its fair
market value. This bargain purchase results in a gift from the owner of the property
in an amount equal to the difference between the fair market value and the purchase
price by the university.
g. Gifts of Tangible and Intangible Personal Property (Gifts-in-Kind)
(1) The University may accept gifts of tangible and intangible personal property.
Examples of gifts of tangible personal property include, but are not limited to, automobiles,
boats, art, jewelry, furniture, antiques, rare books, manuscripts, and lab equipment.
Examples of gifts of intangible personal property include, but are not limited to,
computer software, royalties, patents, and copyrights.
(2) Due diligence will be conducted before any determination is made to accept gifts
of tangible and intangible personal property.
(3) University Advancement may accept gifts of artwork, manuscripts, and special
collections only with the approval of the University Libraries.
(4) All gifts of software must be coordinated through the Advancement Services Office,
in consultation with the Division of Finance and Department of Information Technology.
(5) The University may accept gifts-in-kind of services. However, in accordance
with IRS regulations, gift-in-kind of services are not tax deductible.
(6) If there is any question about the acceptability of a potential gift of tangible
or intangible personal property, the Vice President for University Advancement must
be consulted before proceeding.
h. Employer-Sponsored Matching Gifts
A matching gift may be received from a company or a company funded foundation, matching
a gift given to the University by an employee, retired employee, a director of the
company, or sometimes the spouse of the employed individual.
i. Donor-Advised Funds
Donor-advised funds (DAFs) are philanthropic vehicles established at public charities
that allow donors to make charitable contributions, receive immediate tax benefits,
and then recommend grants from the funds over time.
j. Planned Gifts
(1) Charitable Gift Annuities
(a) A charitable gift annuity provides fixed payments to one or two annuitants for
life in exchange for a gift of cash or securities to the University. The payments
are backed by the general assets of the University. Upon the death of the annuitant(s),
the residuum of the annuity will be used by the University as directed by the donor
and in accordance with this Gift Policy.
(b) The University may accept charitable gift annuities subject to certain legal
requirements and other considerations.
(c) The University sets required gift minimums to establish gift annuities. The
current required minimum to establish a gift annuity is $10,000.
(d) The University sets a required minimum age to establish gift annuities. The
current required minimum for an immediate annuity is age 60.
i. In the case of a couple who wishes to establish a charitable gift annuity,
age is determined by the average age of the two parties.
ii. Should a donor not meet the required minimum age, he or she may establish
a deferred charitable gift annuity provided payments are deferred until at least age
60.
(2) Charitable Remainder Trusts
(a) A charitable remainder trust provides payments for either the life of the beneficiary
or for a set period of time. The trust payments are either the same amount each year
for a charitable remainder annuity trust, or, for a charitable remainder unitrust,
the payments will fluctuate from year to year based on the value of the trust’s assets.
When the trust term ends, its remaining assets are transferred to the University for
use as directed by the donor and in accordance with this Gift Policy.
(b) The University may accept gifts of a remainder interest in charitable remainder
trusts.
(c) Generally, the University does not serve as trustee of a charitable remainder
trust. In exceptional circumstances, the University may serve as trustee of a charitable
remainder trust only upon approval by the Vice President for University Advancement,
and the Chief Financial Officer.
(3) Charitable Lead Trusts
(a) A charitable lead trust provides annual payments to the University over a set
period of time. The remaining trust assets are transferred at the end of the trust
term to the donor or to whomever the donor chooses.
(b) The University may accept designation as the beneficiary of a charitable lead
trust.
(c) The University may accept an appointment as trustee of a charitable lead trust
only upon approval by the Vice President for University Advancement, and the Chief
Financial Officer.
(4) Pooled Income Fund
(a) A pooled income fund is a type of charitable trust established and maintained
by a qualified nonprofit organization that receives irrevocable contributions from
one or more individuals, a family, or a charity. A pooled income fund allows donors
or designated beneficiaries to receive regular income distributions for life, and
remaining funds are distributed to the nonprofit organization after the death of the
donor.
(b) The University may, in its discretion, establish and maintain a pooled income
fund.
(5) Life Insurance
(a) The University may accept a designation as beneficiary and/or owner of a life
insurance policy.
(b) The University will not accept policies where the University is obligated to
make any future premium payments unless the donor commits to making annual gifts to
cover such payments or understands that the University may unilaterally exercise its
right to surrender the policy for its cash surrender value.
(c) The University may accept designation as owner of a life insurance policy only
for cash-value-generating life insurance policies, including whole life and universal
life policies. The University may set required face value minimums on life insurance
policies where the University accepts designation as owner of the policy.
(6) Retirement Account Beneficiary Designations
The University may accept a designation as beneficiary of a retirement account.
(7) Bequest Intentions
The University will accept and retain documentation of bequest intentions regardless
of revocability or the age of the donor.
6. Gift Agreements
a. General Information
(1) A gift agreement documents the mutual understanding between a donor and the
University in relation to the donor’s charitable contribution. A formal gift agreement
is generally required for new obligations entered into by the University, both for
multi-year commitments (i.e., pledges) and for outright gifts of $25,000 or more.
(2) Gifts and pledges that are not documented by formal gift agreement generally
must be otherwise documented. For gifts of less than $25,000, a signed letter of intent
or University gift/pledge form is sufficient documentation. When adding to an existing
fund, no specifications on how the money will be spent can be made.
b. Pledge Payments
(1) Pledge payment periods may be up to five consecutive years, with the first payment
scheduled within one year of the date of the execution of the gift agreement.
(2) Pledges from individual donors that may be paid in full or part through a private
family foundation must be written in the form of a non-binding statement of intention
in order to prevent the donor or foundation from potentially violating certain provisions
against self-dealing under the federal tax laws.
(3) Corporate matching gifts cannot be applied as pledge payments to an individual’s
personal pledge commitment.
c. Gift Agreement Signatures
Gift agreement signing authority is delegated by the University President. In general,
the Vice President for University Advancement is the University officer with authority
to commit the University to gift agreements.
(1) Any gift agreement documenting a gift of $1,000,000 or more requires the signature
of the University President.
(2) The University President delegates to the Vice President for University Advancement
the authority to sign gift agreements documenting gifts of less than $1,000,000.
(3) The Vice President for University Advancement may delegate signing authority
for gift agreements documenting gifts of less than $1,000,000.
7. Gift Entry Receipts
All philanthropic commitments to the University must be processed by and credited
to the donor through the University Advancement gift processing and data management
system.
8. Gifts from Seton Hall University Faculty and Staff
In accordance with IRS regulations, University employees cannot designate a gift to
a fund from which they can authorize expenditures for personal benefit, or in such
(or similar) cases where the fund:
a. Supports the employee’s salary;
b. Pays for consumer goods to be used by the employee;
c. Pays for the employee’s research, or other professional activities;
d. Pays for the employee’s travel; or
e. Provides scholarship or fellowship assistance to the employee, or to a close
relative.
9. Anonymous Gifts
As a general rule, the University does not accept gifts without knowledge of the prospective
donor’s identity. However, a donor's record may be marked anonymous upon approval
of the Vice President for University Advancement. Anonymity of a gift might be granted
for a donor who wishes to protect his or her privacy; however, these donors are not
anonymous to University leadership. In addition, a gift may be marked temporarily
anonymous until such time as it is publicly announced or recognized.
10. Providing Legal or Financial Advice
a. Neither the University nor any of its employees acting on behalf of the University
may agree to act as the successor trustee of a living trust or the executor of any
will in which the University is named as a beneficiary, without the approval of the
Vice President for University Advancement.
b. University employees acting on behalf of the University shall not draft wills
or living trusts naming the University as a beneficiary, regardless of whether such
employee is licensed to practice law. (This provision does not apply to employees
drafting their own will or wills for family members, naming the University as a beneficiary.)
c. University employees may provide donors with suggested bequest language or
assistance with other language pertaining to gift designation within the University.
d. No employee of the University shall provide financial planning services for
any donor. Prospective donors should be encouraged to seek the assistance of their
own financial advisors in matters relating to their gifts and the resulting tax and
estate planning consequences. Further, to avoid conflicts of interest or the appearance
of improper influence, the University shall not pay legal or other fees for the preparation
of a donor’s will or living trust that names the University as a beneficiary.
B. Gift Reporting
1. All charitable contributions to the University will be counted and recorded in the University Advancement database of record in accordance with the standards set forth by the Council for Advancement and Support of Education (CASE).
2. Campaign Reporting
a. Campaign reporting differs from fiscal year reporting in that fundraising totals
span more than one fiscal year.
b. Campaign gift counting periods are recommended by the Vice President for University
Advancement and approved by the Board of Regents. The principles for counting gifts
during a campaign include, but are not limited to, the following:
(1) Gifts and pledges received or committed to during the campaign period are counted
in Campaign totals.
(2) Certain gifts or pledges received or committed prior to the start of the campaign
period may be counted only if the gift or pledge was not counted in a previous campaign
and has been approved for campaign counting by the Vice President for University Advancement.
(3) The following guidelines apply to the campaign counting of documented bequest
intention (BQI) commitments during the campaign:
(a) If the donor is age 62 or older, the BQI will be counted at face value.
(b) If the donor is under age 62 but will be age 62 or older by the end of the Campaign
period, the BQI will be counted at face value.
(c) If the donor will not be age 62 or older by the end of the campaign period
but will be age 50 or older, then the BQI will be discounted to present value based
on the donor’s age at the end of the campaign period by using the following equation:
PVB = B x 1/(1+i)y
Where:
PVB = present value of bequest B = bequestamount
i = IRS Section 7520 interest rate on the date of the gift y = number
of years between the donor’s age and age 62
(d) If the donor will be under age 50 at the end of the campaign period, the University
will accept and retain documentation of the BQI but not count the gift towards the
Campaign goal.
(e) In the case of a bequest intention made by a couple, the donor’s age is determined
by the younger of the two.
(4) Gifts to secure priority seating for University athletics events will be counted
at 80 percent (80%) of face value.
(5) The value of any canceled or unfulfilled gift or pledge will be subtracted from
campaign totals in the time period the original gift or pledge was recorded.
C. Naming Gifts
1. Naming gifts are a form of recognition for the contributions of individuals or organizations to the University.
2. Requests for non-gift-related honorary naming opportunities at the University must be directed to the Vice President for University Advancement.
a. Responsibility for honorary naming opportunities rests with the Vice President
for University Advancement, subject to the approval of the President.
b. The honorary naming of a college or school; a whole building, including but
not limited to athletic facilities and residence halls; or major elements of campus
grounds requires the approval of the Board of Regents.
3. Types of Funds with Potential Naming Opportunities
a. Endowed: Endowed funds are designed to provide perpetual support to a designated
area. To establish a named endowed fund, a gift must meet the funding minimum set
by the Board of Regents. For current University named endowed fund minimums, please
see Appendix.
b. Non-endowed: In certain circumstances, current-use commitments can qualify
for a naming opportunity. Such circumstances include, but are not limited to, named
annual scholarships and named physical entities. The University generally will not
approve non-endowed named professorships, whether supported by a gift or by institutional
funds. University officials seeking to establish a non-endowed named professorship
should contact the Office of the Provost, who will consult with the Vice President
for University Advancement.
4. Funding Options for Establishing Naming Gifts
a. Endowed Naming Gifts
(1) Outright Gift: A donor’s gift satisfies the specific endowment minimum requirement
at the time that the endowment is established.
(2) Pledge Commitment: A donor may sign an irrevocable pledge commitment to satisfy
the specific endowment minimum requirement during a period of no more than five years
from the time that the endowment is established.
(3) Early Activation of a Pledge Commitment: A donor may pledge to activate early
their pledged endowment by providing annual gifts, for a period of at least five years,
to the spending account of at least four and one-half percent (4.5%) of the minimum
endowment level.
(4) Future Funding: A donor may choose to create an endowment in the future with
some type of deferred gift (e.g., gift annuity, charitable remainder trust, bequest)
and may choose to formalize this future gift by creating a letter of intent. If a
gift annuity is used to fund a future endowment, the amount must be two times the
minimum funding level required at the time the gift annuity is established.
(5) Early Activation of Future Funding: A donor may choose to activate early a pledged
future endowment during his or her lifetime by providing annual gifts, for a period
of at least five years, to the spending account of at least four and one-half percent
(4.5%) of the minimum endowment level.
b. Non-Endowed Naming Gifts: Named annually funded accounts may be established for a fixed period of time by an annual expendable gift of not less than $5,000. The donor must make such a commitment for a minimum of five years and sign a gift agreement.
5. Standard Designations for Naming Gifts
a. Physical Entity:
(1) Buildings and other major facilities, discrete components of buildings (wings,
lecture halls, auditoriums, foyers, classrooms, laboratories, studios, offices, conference
rooms, etc.), athletic facilities, and residence halls.
(2) Campus grounds, outdoor renovations, gardens, trees, fountains, benches, walkways,
parking facilities, and other real property.
(3) Libraries, or sections within libraries, and other collections of significant
size and continuing educational, scientific, historic, artistic, or cultural value.
b. Non-Physical Entity:
(1) Colleges, schools, departments, institutes, centers, programs, teaching awards,
and prizes.
(2) Academic or non-academic positions, including but not limited to deanships,
professorships, directorships, and lectureships.
(3) Student support, including but not limited to scholarships, fellowships, and
other student awards.
6. General Terms
a. Naming of a University asset or entity must be made in accordance with this
Gift Policy.
b. The donor may select the name of the entity being funded, so long as the criteria
set forth in this policy are met, and University approval is granted. Factors that
may be considered by the University in determining the appropriateness of a name include,
but are not limited to, the following:
(1) Consistency with the mission, vision, reputation, and values of the University;
(2) Whether a name may imply the University's endorsement of a political or ideological
position or the use of a particular product or service;
(3) Potential conflict of interest (primarily in cases of corporate or organizational
naming gifts);
(4) Whether the name reinforces the University's branding standards; and
(5) Potential conflict with existing named entities or spaces.
c. Naming gifts do not confer the right to the donor to determine the use of
the fund (e.g., the purpose or use of the named space, specific beneficiary of a student
or faculty support fund, program curricula, and/or research outcomes).
d. A named entity may not be announced by any University unit prior to final approval
as required by this Gift Policy.
e. Ordinarily, University facilities and academic units will not be named for
persons who are actively involved in or related to University operations. This includes
current members of the faculty and staff, Board of Regents, advisory boards, legislators,
and governmental officials. University facilities may be named for persons who have
retired from active employment with the University after sufficient time has elapsed
from the date of the individual's retirement.
7. Naming Gift Values
a. Endowed Funds
The Board of Regents establishes the minimum gift amount required to create each type
of named endowed fund. Such minimums are important to ensure the endowed fund provides
sufficient funds to accomplish the purpose intended by the donor. Minimum gift amounts
for named endowed funds will be amended by the Board of Regents from time to time
to correspond with real costs. For a list of current minimum gift amounts for endowed
funds, please see the Appendix.
b. Current-Use Funds
(1) In general, named current-use funds adhere to the same fund minimums required
to create named endowed funds, with the exception that a current-use undergraduate
scholarship may be named with a minimum gift of $25,000.
(2) Other exceptions are permitted in limited circumstances by the Vice President
for University Advancement, in consultation with the President as needed.
(3) As a rule, current-use funds are not invested in the endowment.
c. Physical Entities
(1) Once a new building, expansion, or renovation has been approved by the University,
the value of associated naming gifts will be determined by the Vice President for
University Advancement, in consultation with the President. This policy applies to
spaces both within and outside buildings. The Vice President for University Advancement
may consider a variety of factors, including, but not limited to, the cost of the
project and the prominence of the space, when determining the value of associated
naming gifts.
(2) The value of associated naming gifts for existing University spaces will be
determined by the Vice President for University Advancement, in consultation with
the President.
(3) Generally, the University will name buildings, parts of buildings, or other
physical entities for a donor only with the required minimum gift commitment of 30
percent (30%) of the total cost for new construction or major renovations.
(4) For buildings, parts of buildings, or other physical entities with no current
need of funds for expansion or renovation, the University will name the physical entity
only with the required minimum gift of 30 percent (30%) of the replacement cost of
the named entity.
8. Naming Approval and Timing of Naming Activation
a. The Vice President for University Advancement manages the naming approval process,
in consultation with the President and Board of Regents, as appropriate.
b. The naming of a college or school; a whole building, including, but not limited
to, athletic facilities and residence halls; or major elements of campus grounds requires
the approval of the Board of Regents.
c. Any naming opportunity associated with a gift of $5,000,000 or more requires
the approval of the Board of Regents.
d. All other naming opportunities require the approval of the President. For naming
opportunities associated with gifts of less than $1,000,000, the President may delegate
naming approval to the Vice President for University Advancement.
e. Name approval may not be granted until the proposed name is known. If the donor
does not wish to select the name to be applied when the gift is made, the University
may accept the gift, with the name determined later, subject to the terms of approval
outlined in this policy.
f. For gifts made through an irrevocable deferred gift technique, special considerations
apply to naming approval:
(1) Such gifts generally will not be accepted for the purpose of naming physical
entities for which contributions from private sources are needed for construction
or renovation costs.
(2) Ordinarily, such gifts may be accepted for the purpose of naming existing University
buildings, or parts of buildings, provided there is no current need of funds for building
renovations or expansion, and that the face value of the gift is at least 30 percent
(30%) of the replacement value of the named entity.
(3) Such gifts shall be accepted for the purpose of naming existing buildings, or
parts of buildings, only if they are unrestricted. When received, the gift may be
used by the then current college/campus for worthy priorities of the college/campus.
(4) Such gifts may be accepted for the purpose of naming an academic unit when the
face value of the gift creates an unrestricted endowment for the unit that generates
the equivalent of 25 percent (25%) of the unit’s budget at the time the gift is consummated.
(5) Blended gifts (i.e., gifts that consist of both an outright component and an
irrevocable deferred gift) will also be considered for naming of facilities or academic
units. Taking into consideration the outright and deferred amounts, University Advancement
will determine the gift values based upon the outright and deferred formulas set forth
in this policy.
(6) Under no circumstances will a University building, part of a building, or an
academic unit be named in recognition of a revocable deferred gift.
g. For binding, irrevocable gifts, a name may go into effect before the gift is
paid in full, at the discretion of the Vice President for University Advancement,
in consultation with the President.
h. For pledges towards the construction or renovation of physical entities, a
name may go into effect only after at least 50 percent(50%) of the total pledge is
paid.
i. For non-binding, revocable gifts, a name will not be activated until the
gift is received.
j. For the purposes of naming approval and naming activation, an employer-sponsored
matching gift may be considered as part of an individual donor’s eligibility for a
naming opportunity. Any applicable matching gifts must be paid before a name may go
into effect.
k. For corporate naming gifts, the University must conduct due diligence to ensure
the corporation’s activities do not conflict with the teachings of the Catholic Church.
The University should also consider the appropriateness of the corporate name in a
public context. If the name of a corporation changes after a University facility is
named for the corporation, the name of the University facility would remain the same
unless a change is recommended by the President to the Board of Regents in accordance
with this policy. Corporate names may not be used for academic units.
9. Donor Recognition
The University places great value on recognizing and showing appreciation to donors
for their generosity. In addition to providing naming rights for eligible gifts, other
methods of recognition may be applied, such as those outlined below. Recognition must
be equitable and consistent based on gift type, amount, and designation, and adheres
to established University standards.
a. Physical Recognition:
(1) Gifts to name a physical entity or college, school, department, center, or institute
will typically be recognized via signage, plaques, displays, or other physical installations.
(2) The nature and attributes of the physical recognition will be commensurate to
the level and type of gift, designed in accordance with University standards, and
aligned with the features of the intended placement location.
(3) Corporate or organization logos may not be incorporated into recognition signage
without approval of the Vice President for University Advancement, in consultation
with the President.
(4) Physical donor recognition items must be approved by the donor, Executive Vice
President for Operations, Vice President for University Advancement, and Vice President
for University Relations, prior to production and installation, and it may not be
installed until the terms outlined in this policy have been met.
b. Other Recognition:
(1) Naming gift donors may also be recognized via other means (e.g., events and
media announcements), corresponding with the type, amount, and purpose of the gift.
(2) If any works of art are associated with the gift or donor recognition, the University’s
policies regarding public art must be followed.
10. Duration of Naming
a. Naming is generally granted for the useful life of the entity unless otherwise
specified in the gift agreement and subject to the terms of revocation as set forth
in this policy.
b. For current-use gifts, naming terms, including duration, shall be set forth
in writing by the University and donor.
c. If circumstances change so that the purpose for which the named entity was
established is or needs to be significantly altered, is no longer needed or ceases
to exist, or if a physical entity is replaced, significantly renovated or no longer
habitable, the University will consult with the donor if possible, or the donor's
estate, if practicable, to determine an appropriate way to recognize the original
naming gift if possible.
11. Revocation of Naming
a. The University, in its discretion, may revoke a naming for reasons which include, but are not limited to, the following:
(1) The pledge obligation to support the naming is not wholly satisfied (if partial
funding was received that is sufficient for an alternative naming opportunity, the
terms of this policy shall govern any renegotiation for a suitable naming);
(2) The University determines that its association with the donor or with the individual
for whom the University property is named will adversely impact the reputation, image,
mission or integrity of the University; or
(3) A change in family or organizational circumstances causes the donor or other
affected individual(s) or organization(s) to request a name change or revocation.
b. Revocation decisions shall be made by the President based on the recommendation of the Vice President for University Advancement, provided the following conditions are met:
(1) Revocation of a naming of a college or school, whole building, or major element
of campus grounds requires the approval of the Board of Regents.
(2) Revocation of a naming associated with a gift of $5,000,000 or more requires
the approval of the Board of Regents.
c. The University shall make reasonable efforts to inform the original donor
or the donor’s heirs or designees, in advance of a revocation.
d. Special Circumstances and Exceptions
Any special circumstances or requests for exceptions must be referred to the Vice
President for University Advancement.
Related Policies
Centralizing and Coordinating Gifts and Pledges - Seton Hall University (shu.edu)
Appendix
A. Qualification and Registration
1. The University is a nonprofit organization as described in section 501(c)(3)
of the Internal Revenue Code. Thus, the University qualifies under both federal and
state law as a tax- exempt non-profit organization in which charitable contributions
are deductible to the full extent of the law for income, gift, and estate tax purposes.
2. The University's federal tax identification number is 22-1500645.
B. University Named Endowed Fund Minimums as of March 18, 2021
| Endowed Fund | Minimum Gift Amount |
| Academic Institute | $10,000,000 |
| Dean’s Chair | $5,000,000 |
| Men’s Basketball Head Coach Position | $5,000,000 |
| Academic Center | $2,500,000 |
| Academic Department | $2,500,000 |
| Department Head’s Chair | $2,500,000 |
| Faculty Chair | $2,000,000 |
| Athletic Head Coach Position | $1,000,000 |
| Professorship | $1,000,000 |
| Visiting Professorship | $1,000,000 |
| Early Career Professorship | $500,000 |
| Men’s Basketball Position Scholarship | $500,000 |
| Graduate Fellowship | $400,000 |
| Athletic Position Scholarship | $300,000 |
| Lectureship | $200,000 |
| Athletic Scholarship | $50,000 |
| Undergraduate Scholarship | $50,000 |
Responsible Offices
Division of University Advancement
Approval
Approved
Approved by the Board of Regents on March 18, 2021.
Effective Date
March 18th, 2021