Hartford Business Journal

16 Hartford Business Journal • May 9, 2016 www.HartfordBusiness.com in September 2017. Indeed, relocating its leafy West Hartford outpost into downtown Hartford will raise the visibility of UConn's central Connecticut satel- lite campus, offering the school a chance to cash in on its closer proximity to a number of deep- pocketed, philanthropic Connecticut corpora- tions such as Aetna, The Hartford and Travelers. "Certainly, any major move like this cre- ates excitement,'' said Foundation CEO Joshua Newton, hired in 2014 with a $1 billion endow- ment goal, "and we believe this particular move to downtown Hartford creates a unique opportunity for us to continue to partner with the corporate — and individual donor — com- munities for them to be a part of supporting our students and faculty at UConn.'' Newton said UConn has granted — he abhors the verb "sold" — naming rights to other university assets, including the new hilltop patient wing at UConn Health in Farm- ington and a new baseball field in Storrs. The aim, Newton said in an interview, is less about putting names on buildings and classrooms than raising the millions of dollars UConn needs annually to provide students with scholarships and curriculum. Such fundraising may take on added impor- tance as the state's budget crisis threatens UConn's future funding. The downtown-campus donor pricelist, which UConn's board of trustees reviewed and approved at their recent April board meeting, amounts to a "tool kit'' that Newton says he and his fundraising team can rely on when they fan out this summer and fall con- ducting donor contacts with UConn alumni and corporate contributors. "We're not going to get state dollars or tuition to support baseball or the downtown campus,'' he said. "But if we're going to sup- port our students, then philanthropy will play a significant role.'' Revenue arms race Although sales of naming rights to professional and college sports arenas are the norm, the appeal of naming classrooms and meeting halls and other on-campus spaces is growing, experts say. In West Hartford, only a handful of campus buildings or spaces are named for past UConn educators, said Michael Menard, who heads the campus. But one space, the Zachs Community Room, honors a Con- necticut family and major UConn benefactor, Menard said. In the past, UConn has also allowed com- panies to brandish their names on certain programs they supported, like the SS&C Tech- nologies Financial Accelerator (named for the Windsor financial-software/services vendor) located in UConn's downtown Hartford gradu- ate business school on Constitution Plaza. Even so, naming rights are more likely at private colleges, experts add, because they aren't as encumbered as public universities because they are taxpayer supported. Michael Hurley has devoted more than two decades as a naming-rights consultant to pub- lic and private arenas and corporations. After reviewing UConn's naming-rights price list for its downtown campus, Hurley said it resem- bles more of "a traditional gift opportunity.'' In any event, Hurley said, that UConn has compiled the list from which to identify and solicit potential donors speaks to the inten- sity of the underlying reasons why academic philanthropy is getting more attention from educators nowadays. "UConn, through no fault of its own,'' said Hurley, head of ROI Sports & Entertainment in Raleigh, N.C., along with other American colleg- es "are all in an arms race in collegiate athletics and everyone is trying to keep up with the Jone- ses as it relates to their facilities and revenue.'' Donor support According to Newton, UConn annually submits to trustees for review and approval a list of various university spaces and endowed chairs and professorships that, for a price, can be sponsored by donors. This is done, he said, to satisfy legal guidelines tied to the marshal- ling and stewardship of public assets, such as UConn's buildings and other assets, which technically belong to taxpayers. The UConn Foundation had $482.4 million in assets at the end of fiscal 2015 and raised $78 million in new gifts and commitments during that same fiscal year, down from $81.3 million in fiscal 2014, according to the foun- dation's latest annual report. Having the nam- ing-rights list isn't all about raising money that can be poured into student scholar- ships, educational and support program- ming, according to Larry McHugh, who chairs the UConn board of trustees. Some UConn realty assets, McHugh said, are open for tagging in honor of an indi- vidual or company that has supported the university in other ways. "I've always believed people who step up and support the university should be recog- nized for that commitment,'' said McHugh, who also is president of the Middlesex Coun- ty Chamber of Commerce. As with most opportunities that on the surface appear benign, positive even, there are risks to weigh, Hurley says. He cites as an example Minute Maid Park in Houston, Texas, home to the Astros, which once bore the logo of one of America's most infamous corporate bustouts — Enron. "You want to be careful not to do every- thing to chase the money,'' Hurley said. "There are some companies … that aren't as dignified or consistent with the mission a col- lege institution has or wants to convey.'' Moreover, he said, the ebb and flow of merg- ers and acquisitions could over time compli- cate the naming and renaming of college build- ings or other public or private properties. Newton acknowledges the risks, but doesn't see them interfering with UConn Foundation's fundraising mission. "I'm an optimistic guy,'' Newton said. "From my perspective, it's a real opportunity to be a part of the [downtown] campus.'' n Colleges in a revenue 'arms race' from page 1 Naming Rights at a Cost Here's a breakdown of what it will cost companies or individuals for naming rights to various parts of UConn's new downtown Hartford campus, set to open in 2017. This list below only includes naming rights set at $200,000 or above. Main Courtyard: $1 million South West Terrace: $750,000 Hartford Times Building Terrace: $500,000 Lecture Hall: $500,000 Classroom: $400,000 Café: $300,000 Bookstore/Retail/Display: $250,000 Computer Lab: $250,000 Front Street Entrance Lobby: $250,000 Executive Conference Room (large) 2nd Floor: $250,000 Hartford Times Building Portico: $250,000 Monumental Stair to Courtyard: $250,000 Executive Conference Room (medium) 2nd Floor: $200,000 Mezzanine Executive Conference Room: $200,000 S O U R C E : U C O N N UConn Foundation Endowment Assets by Purpose UConn University Health Athletics Totals Scholarships $82.5M $5.7M $41.9M $130.1M Faculty $53.5M $46.1M - $99.4M Programs $64M $34.2M $3.7M $101.9M Totals $199.8M $86M $45.6M $331.4M S O U R C E : U C O N N F O U N D A T I O N Joshua Newton, CEO, UConn Foundation UConn Foundation New Gifts and Commitments Year Money Raised 2015 $78M 2014 $81.1M 2013 $63.3M 2012 $60M 2011 $50.6M S O U R C E : U C O N N F O U N D A T I O N P H O T O | C O N T R I B U T E D

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