Unlocking Financial Support A Deep Dive into Gifts and Grants

Sponsored awards can be classified into three categories: grants, cooperative agreements, and contracts. Some grants can be classified as gifts. A sponsored award is funding from an external entity such as a private foundation, corporation or governmental agency for an activity with a defined scope and ... Having regular reports due does not necessarily mean a grant is contractual (vs. being a gift). According to CASE, if sponsored research is not contractual, it ... Gifts may be given for specific purposes, including research projects, but funding is given with the intent that the campus has broad flexibility to utilize it ... Proper classification of gifts and grants in the accounting records is crucial to ensure the University's external financial statements are presented accurately ... Gift vs. Grant Guidelines. December 2011. Background and Context. On behalf of the faculty and the University, the Office of Research Administration is charged ... It is important to accurately classify the funding as either a gift or a grant/sponsored projects to ensure that funds are correctly accounted for and properly ... A gift may meet the interests of the donor and can be restricted or unrestricted. A restricted gift is a contribution designated for a specific purpose, program ... The language used by a donor or sponsor in providing support is generally the source for making a distinction between a sponsored award and gift; however, ... Distinguishing a gift from a grant is not always easy. Use the information below to help you make your determination.