Overhead on Gifts

Effective April 1, 2018- Revised November 1, 2018

Effective April 1, 2018 the overhead on all general support and restricted gifts will be waived by the Dean’s office. A gift is a donation to the University with no goods or services given in return to the donor and can be in the form of cash, check, credit cards, stock, real estate and/or a gift-in-kind. The following fund ranges are considered gifts and will be exempt from overhead.

30xxx-35xxx Unendowed gifts

72xxx           Unendowed scholarships

73xxx          Student aid/ government scholarships

76xxx          Unendowed student funds

78xxx          Unendowed student loan/scholarship combinations

90991        General support gifts

External gifts where the “gift” requires value back to the donor, are not exempt from overhead. The list of circumstances that do not qualify for exemption inlcude, but is not limited to, activities including any of the following attributes:

  • A defined scope of work
  • A work plan for a specific project
  • A specified time frame for the project (a period of performance with a recognizable beginning and end)
  • Detailed financial reporting is required by the sponsor (external or internal)
  • Funds must be returned to the sponsor unless spent for the project for which the support was granted.
  • Intellectual property contractual terms and conditions

Questions about rates should be directed to your departmental analyst for unrestricted funds, your grant analyst for restricted funds, or directly to Mary Corcoran, Assistant Vice Chancellor and Assistant Dean for Finance.

Please note that overhead will not be waived on Gifts in Support of Sponsored Projects (GSSP) nor any other gifts and grants that are classified as sponsored research.