Exempt Magazine

Naming Rights:
Deciding how much that new building is worth to a donor
By Tom Pope

A visitor to the Morristown Mem-orial Hospital in Morristown, N.J., can see the gleaming Carol G. Simon Cancer Center, the name emblazoned on the front of the building. “We wanted to raise $12 million and received $2.5 million from the late former Deputy Secretary of the Treasury William E. Simon who named it for his wife,” said Jim Quinn, chief development officer for the Morristown Memorial Health Foundation, in Morristown, N.J. “The figure was based on a similar building’s figure and was about the size we needed for the lead gift in the capital campaign.”