President Trump is spearheading a fundraising campaign for a new ballroom at the White House, with donors potentially receiving a unique form of recognition: their names etched into the structure itself.

A pledge agreement reviewed by CBS News outlines that in exchange for contributions, donors are eligible for “recognition associated with the White House Ballroom.” While the final form of this recognition is still under discussion, sources indicate the expectation is that names will be permanently displayed in the ballroom’s brick or stone. Donors also have the option to remain anonymous.

The project, projected to cost between $200 million and $250 million, is being financed through private donations. Nearly $200 million has already been pledged, sources told CBS. Mr. Trump has personally engaged with business executives to solicit contributions for what is being called “The Donald J. Trump Ballroom at the White House.”

Several major corporations have committed to donating, including Google, R.J. Reynolds, Booz Allen Hamilton, Lockheed Martin, Palantir, and NextEra Energy. Officials at some of these companies stated their decision was motivated by a desire to support President Trump while also contributing to what they see as a nonpartisan project that will serve future administrations.

The practice of privately funding public structures is not without precedent in Washington D.C. Both the Washington Monument and the Martin Luther King, Jr. Memorial were largely financed by private donations.

Lockheed Martin is reported to be among the companies pledging over $10 million. Jalen Drummond, the company’s vice president of corporate affairs, confirmed their support in a statement: “Lockheed Martin is grateful for the opportunity to help bring the President’s vision to reality and make this addition to the People’s House, a powerful symbol of the American ideals we work to defend every day.”

Individuals have also contributed, including Blackstone Group CEO Stephen Schwarzman. The fundraising effort is being led by Meredith O’Rourke, a top political fundraiser for Mr. Trump, in partnership with the Trust for the National Mall. The trust’s nonprofit status allows for donations to be tax-deductible.

Mr. Trump has said he intends to contribute to the 90,000-square-foot annex. “I’m paying for it. I’m paying for it,” he said on Tuesday, though White House officials declined to specify the amount of his personal financial commitment.

The fundraising has extended to White House events. At a dinner in early September with tech executives from Google, Palantir, Meta, and Apple, Mr. Trump reportedly discussed the ballroom in what at least one company present interpreted as a solicitation for donations. Furthermore, an invitation has been sent for an October 15 “legacy dinner” to “establish the magnificent White House Ballroom.”

White House press secretary Karoline Leavitt praised the initiative, stating, “President Trump is generously donating his time and resources to build a beautiful White House ballroom, a project which past presidents only dreamed about. Since announcing this historic plan, the White House has been inundated with calls from generous Americans and American companies wishing to contribute.”