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These policies vary by institution.
Corporate logos can take away from the institutional branding on a web site.
Corporate logos can also be instrumental in attracting future support from the same corporation or by other corporations that may wish to compete.
Corporate logos on the web site should be treated in a similar fashion as other naming policies on giving, sponsorship and others decided by institutional governance and by institutional policies and procedures. Logos should also be appropriate. i.e. It may not be appropriate for an alcohol beverage company to have their logo displayed on an athletics site.
If corporate logos are used, there should be a clear statement that even though such logs may appear, that the institution does not specifically endorse the products or services represented.
The use of corporate logos should also be addressed in the organization's web style and standards guide.