Review the steps to calculate space values, as related to the policy for Naming University Properties, Facilities, and Academic and Non-Academic Programs.
1. Determine the Fundraising Goal for a new facility; the fundraising goal can be affected by the amount of public funds allocated towards a particular project.
2. Identify Total Nameable Space
3. Calculate Base Space Value
Base Space Value = Fundraising Goal / Total Nameable Space
4. Calculate Base Value of each individual nameable space
Base Value = Base Space Value x NASF (net assignable square feet)
5. Determine a Utility Index for each space ranging from .25 to 2.0
6. Determine a Location Index for each space ranging from .25 to 2.0
7. Calculate the Naming Value for each space
Naming Value = Base Value x Utility Index x Location Index
8. Review and round or adjust naming values appropriately (this is more of an art than a science)
9. The total value of all identified named space opportunities should be worth approximately three times the fundraising goal. This 3:1 ratio will ensure that there are more than enough space offerings to appeal to different donor interests and still meet fundraising goals. It is estimated that only one-third of the naming opportunities offered will end up being named. This helps prevent a facility from looking cluttered and confused with too many named spaces and plaques.
10. A sample template to assist with these calculations using Excel is available.
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