THE MIDLAND

Purpose

These policies and procedures set forth guidelines for gift naming opportunities, the recognition of major gifts to The Midland Theater Foundation for the renovation and creation of The Midland Theater & Event Center.

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Recognition Gift Amount

With the few exceptions contained in this policy, the minimum gift requirement for a naming opportunity at The Midland Theater & Event Center is $15,000. Gifts of cash, stock, in-kind, or other deferred gifts may be made in accordance with this Midland Theater Foundation policy. The Midland Theater Foundation Board of Directors may address exceptions to minimum gifting requirements.

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Policy

Significant gifts to the Midland Theater Foundation provide opportunities for donors to designate the name of a room, area, or other aspect of the construction project of the Midland Theater & Event Center in honor/memory of the donor or with the endorsement of the Midland Theater Foundation Board of Directors another individual or entity of the donor’s choosing. The acceptability of these gifts is based upon the overall contribution to the completion of the Midland Theater & Event Center.

 

Gifts in support of naming opportunities are deductible in accordance with IRS guidelines. Costs associated with materials and other operational expenses to create donor recognition systems or plaques are paid from either a portion of the gift or with internal budgeted resources.

 

Gift Agreements

Each named capital or endowment gift should be accompanied by a gift agreement that has been approved and signed by the donor or designated donor representative(s) and the appropriate Midland Theater Foundation Board of Directors elected officer or designated representative authorized to endorse such agreements. Each gift agreement specifies the funding level, the purpose of the gift, and any restrictions within the Midland Theater Foundation guidelines as to distributions from the fund.

 

Named Gift Approval Process

The Midland Theater Foundation Board of Directors has the final approval for all naming opportunities at the Midland Theater & Event Center. However, to expedite the approval process, the Board authorizes the Foundation President and Vice President or two designees of the their choosing to coordinate on the Board’s behalf gift agreements and naming designations and to inform the Board of the gift.

 

The Board will make decisions regarding naming opportunities not covered by this policy for gifts under $15,000. For gifts above $15,000 that are not covered by this policy the President will make recommendations to the Board of Directors with regard to any decision to name a portion of the Midland Theater & Event Center.

 

List of Naming Rights Opportunities

This is a list of the main areas providing naming opportunities. Additional opportunities may be suggested by a donor and subject to Board approval or the Board may add any additional opportunities at their discretion.

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Midland Main Auditorium | $500,000

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"It Takes Guts" | $375,000
(Mechanical, electrical, and plumbing)

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Midland Auditorium Balcony | $200,000

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Midland Stage | $100,000

 

Midland Projection Booth | $50,000

(Includes digital projection and sound equipment)

 

Midland Lobby/Foyer | $25,000

 

Midland Concession Stand | Sold

 

Midland Ticket Booth | Coffeyville Rotary Club

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Midland Ballroom | Kenneth Burchinal Memorial

 

Event Center Large Meeting Rooms | $250,000 each or $650,000 for all three

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Event Center Catering Kitchen | $150,000

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Additional Recognition

Provided by plaques or appropriate display of donors: Examples: Funding for the restrooms provided by gifts from donor(s) name.