Isothermal Community College

Learning College Manual

Campus Support and Facilities

Naming and Memorialization Policy

  1. Purpose
    Namings and memorializations should contribute to fulfilling the mission of the College and the North Carolina Community College system, while reflecting positively on the College, its students, graduates, staff, administration, and Board, and on the community.
  2. Basis and Procedure
    1. Consideration of a naming or memorializaton opportunity may be based on:
      1. Prior outstanding service to the College;
      2. Prior support of the College; or
      3. Financial gift or commitment to the College.
    2. The Board may consider naming of, or memorialization through, the following:
      1. Facilities:  Buildings, structures, plazas, gardens, fields, streets, walkways, sites, or areas; including any portion(s) thereof, furnishings or other outfitting or accoutrements within, on or at a facility;
      2. Endowed Chairs;
      3. Scholarships; or
      4. Other opportunities as appropriate.
    3. Procedure:
      1. Prior to considering any naming or memorialization, the President shall investigate the proposed association with the college, and present the results of that investigation and a recommendation to the Board. The President shall assure that the proposed association meets the criteria herein.
      2. Naming or memorialization is an honor for the person(s) or entity whose name is being associated with the College, and is an honor for the College. The Board shall exercise its full discretion in approving, or not approving, any naming, renaming, or memorialization opportunity.
  3. Criteria
    1. General:
      1. The credentials, character, and reputation of each individual or entity whose name is, or will be, associated with the College shall be carefully scrutinized and evaluated to assure consistency with this policy.
      2. No association should appear to indicate any preference for or support of any political beliefs or group or religious beliefs or group.
      3. Any donor-proposed restrictions on use of any funds received through these opportunities must comport with the mission of the College and its policies and procedures, must enhance the reputation of the College; and must not create any unacceptable future financial or other liability for the College.
      4. Consideration of an association with a person currently in, or seeking, political office is not allowed.
    2. Prior Outstanding Service:
      Naming or memorialization on this basis shall be allowed after a person has served the College for at least ten years.
    3. Prior Support of the College.
    4. Financial Gift or Commitment:
      1. Amount and Form of Gift or Commitment.
        Amount and Form of Gift or Commitment
          Form
        Opportunity Gift or Commitment Amount

        Cash or
        Liquid Assets

        Non-Liquid Assets Deferred, Irrevocable Commitment
        New facility 
        (pre-construction)
        At least 50% of the initial cost Yes No No
        Existing facility At least 50% of the replacement cost Yes Yes Yes
        Endowed Chair & Scholarships $40,000 Yes No No
  4. Financial Gift and Commitment Use and Valuation
    1. General:
      1. Funds received through naming or re-naming opportunities must support the mission of the College.
      2. Any sale of assets associated with a gift must be through an arm’s-length transaction.
      3. Nothing herein shall indicate, nor should it be construed to indicate, any effect on or by any federal or state taxing authority determinations, specifically including any valuations, deductions, or deductibility.
    2. Determination of Gift Amount:
      1. Non-cash assets retained by the College for over three months after receipt: Appraised value at time of transfer.
      2. Non-cash assets sold by the College within three months of receipt: The greater of sale value or appraised value from recent appraisal.
      3. Deferred gifts or commitments. The value of the actual or expected amount to be received by the College after expenses.
  5. Review and Rescission of Associations.
    1. All associations with the College pursuant to this policy are subject to periodic review by the Board.
      1. A naming or memorialization may be rescinded when:
        1. The person, entity, or name associated with the College no longer continues to be consistent with the policies and interests of the College, and could lead to a negative connotation about the College or its communities;
        2. Financial commitments are not met.
      2. No rescission should appear to indicate any preference for or support of any political or religious beliefs or groups.
    2. Procedure:
      1. Prior to considering rescission of a naming or memorialization, the President shall investigate generally the circumstances that may affect continued association of a name or title with the College, and present the results of that investigation, and a recommendation, to the Board.
    3. Should a naming or memorialization be rescinded, no part of any gift, whether received or deferred, shall be returned to the giver. The financial consequences of a rescission should not be considered by the Board in determining the necessity of rescinding a naming or memorialization.

Policy No: 802-02-00BP

Reference:
Cross Reference:
Adopted:  November, 13, 2007
Amended:  February 19, 2008