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A naming gift without the name
Posted: October 29, 2007
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My academic home, the UW-Madison School of Business, announced a rather unique gift this past weekend -- a naming gift that defers the need for a naming gift for the next 20 years.
The $85 million contributed to the school -- the largest single gift ever given to the university -- came from a partnership of alumni and supporters who were committed to retaining the Wisconsin name for the School of Business, but also eager to advance the work of the institution. Their donation does not block future efforts for a naming gift, but encourages future donors to renew the non-naming pact in the years to come.
Said UW-Madison Chancellor John Wiley:
"It is counterintuitive to go out to donors and say we want you to give us a lot of money to NOT name something after you. . . . But the simple idea behind this is something that's going to be copied by other schools around the country.
"It probably changes namings and philanthropy forever."
Who else out there is interested in contributing significant funds to ensure that nobody's name appears on their favorite institution?