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Memo of Understanding for Naming of Buildings, Gro ...
Memo of Understanding for Naming of Buildings, Grounds, and Facilities at Mott Community College
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Pdf Summary
This Memo of Understanding outlines the agreement between a Donor and Mott Community College (MCC) regarding the naming rights of a designated building, ground, or facility ("Named Space") to honor an individual or individuals ("Honoree") who have made significant contributions to MCC's mission. The agreement is governed by MCC's Board of Trustees Policy 4205, which authorizes naming rights to recognize extraordinary contributions and fundraise in partnership with MCC-affiliated organizations. The Board holds final approval authority.<br /><br />The Donor commits a specified gift amount to MCC, to be used for an identified purpose related to the Named Space. Naming rights are granted upon Board approval and acceptance of the gift. MCC will ensure that the Named Space’s recognition adheres to institutional standards and retains full oversight and management of the space’s use and aesthetics.<br /><br />The gift can be paid according to a defined schedule, with provisions for prepayment and estate fulfillment if applicable. The Donor’s and Honoree’s names may be publicly recognized unless anonymity or no-publicity options are chosen. Naming rights last for the useful life of the Named Space; if the space changes significantly, MCC will work with the Donor or designee to find alternate recognition, but the gift remains nonrefundable.<br /><br />In cases where the full pledged gift is not received, MCC may alter or rescind naming recognition. MCC controls all public relations regarding the naming, without donor oversight. The agreement includes a contingency clause allowing termination of naming rights if the Donor’s or Honoree’s conduct negatively impacts MCC’s reputation or mission.<br /><br />This document constitutes the entire agreement, subject to Michigan law, and requires signatures from MCC's Board Chair, the Interim President, and the Donor to become effective.
Keywords
Memo of Understanding
Donor Agreement
Mott Community College
Naming Rights
Board of Trustees Policy 4205
Gift Commitment
Named Space Recognition
Fundraising Partnership
Public Recognition Options
Termination Clause
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