Grants vs. Gifts The Ultimate Funding Guide for Nonprofits

However, unrestricted grants are not considered gifts because the sponsor does not express a specific intent for the funds to be treated as a gift, or because ... Proper classification of External Funding to the University, as either Gift or Grant, is essential to ensure that such funding receives proper compliance review ... Correct classification and handling of external funds (grants or gifts) is essential for the reputation, fiscal, fiduciary and stewardship responsibilities ... Only Development & Alumni Relations may accept gifts on behalf of the University. B. “Grant or Contract” means an award from a sponsor to the ... A Matching Gift, also known as a Matching Fund, is a gift made to your organization by a matching donor (e.g., a foundation) under the provision that another ... Proper classification of gifts and grants in the accounting records is crucial to ensure the University's external financial statements are presented accurately ... (OUD) handles the funds. When these external entities provide support for sponsored programs such as contracts and grants, the Office of Sponsored Programs (OSP) ... This guide provides a condensed overview of the many conditions that inform how awards are categorized. Generally, funds received for the benefit of the Institute may be classified as "Gifts", "Grants and Sponsored Agreements" or "Contracts" as described below. Gift: If you answer “Yes” to Question 2, or “No” to all questions 3 – 8, the funding should be considered a gift.