DAVID
GEFFEN HALL
“Placing a rich person's name on a building in return for a big donation is an established practice in the philanthropy playbook that can be a way to honor a loved one or encourage other donations. While mocked recently as
’Philanthro-me’ and ‘Egonomics’ by social commentators, money-for-naming transactions can be mutually beneficial. Benefactors get their name in history books - or at least on Google Maps - and recipients get cash infusions for pressing projects.
“For
instance, New York's Lincoln Center received $100 million toward massive renovations for Avery
Fisher Hall from [David] Geffen in a deal
that renamed the venue to David Geffen Hall. But that happened onlyafter Lincoln Center paid $15 million to the family of Fisher, a philanthropist who died in 1994, to clear the way to the renaming. “Geffen's gift was lauded as transformative by Lincoln Center administrators and elsewhere criticized as self-aggrandizing.”
Associated Press. Michael Hill, “The Rich Give, and Get Grief,” as
printed in the Bloomsburg (PA) Press-Enterprise, pp: 25 and 28,
January 27, 2016.
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