Space Values

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

• Review floor plans and create a list of nameable spaces. Remove space with little or no value (e.g., washrooms, communication closets, storage spaces)
• Identify special spaces including atriums, mezzanines, walkways, wings, or other space groupings

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

• Based on the premise that spaces with high profile uses are worth more
• Public spaces are worth more than private spaces
• Student, customer, and patient spaces are worth more than researcher, clinician, and staff spaces
• Laboratory and program spaces are worth more than office spaces

6.  Determine a Location Index for each space ranging from .25 to 2.0

• Based on the premise that spaces with public visibility are worth more
• Locations accessible to the public worth more than private or secure spaces
• Lower floors are generally worth more
• Spaces adjacent or visible from high traffic locations are worth more

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)

• Higher potential value for special spaces
• Donor expectations
• Gut check

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.