The practice of naming gifts is commonplace at most educational institutions today, although naming opportunities and policies vary considerably from institution to institution. At a small college, a gift of $1,000 might result in a naming opportunity. At a large university, gifts of $25,000 to $50,000 may be required for naming scholarships or special programs, and millions to have a building named for an individual donor. To start, institutions must determine what is right for their organization and constituency in terms of the level of naming--both what the threshold of funding should be for an opportunity and, more generally, what elements of the campus should be available for naming opportunities. Performing the exercise of determining what an institution is willing to offer for naming opportunities is an important one for every campus. Likewise, considering acceptable circumstances for naming is essential. When pricing a naming opportunity, consider the costs associated with upkeep and tracking. Having determined naming opportunities and ways to value them, an institution can turn its attention to drafting gift agreements. This article discusses the must-haves for a sensible gift agreement policy.