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 are considered gifts and will be exempt from overhead.
- Unendowed gifts
- Unendowed scholarships
- Student aid/ government scholarships
- Unendowed student funds
- Unendowed student loan/scholarship combinations
- 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 include, but are 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.