Are These Funds a Gift to WPI?
Regardless of whether funds awarded by an organization or individual external to WPI are called a donation, grant, award, sponsorship, sponsored program, research funding, or any of a number of other terms, the University is responsible for determining whether or not the money constitutes a gift. This determination is important for satisfaction of internal accounting requirements and reporting to outside organizations such as the IRS, ABET, and CASE. For gifts of services, materials, or equipment, please contact Corporate and Foundation Relations (extension 6093). Below are some simple questions that differentiate between funds (or equipment or materials) that are a gift and funds that are not.
Is it a gift?
If yes, please forward the check and all related documentation to Gift Recording, Boynton Hall, 3rd floor.
Typically, it is a gift if most of the items below apply:
- Results of the work have no commercial value for the resource provider
- If the donor calls it a gift
- Award is irrevocable
- Unspent funds do not have to be returned
- If a budget was included in the proposal, the University controls the budget and it is not monitored or "enforced" by the donor during the award period
- Any reporting requirements are minimal (limited to narrative and budget indicating the funds were used for the intended purpose)
It might not be a gift if any of the items below apply. Further discussion with Corporate and Foundation Relations (extension 6093) is required.
- The funder requires a detailed technical report
- Unexpended funds must be returned to the funder
- Deviations from the budget must be approved by the funder
- An invoice is required
- Money arrives after the activity is complete
It is definitely not a gift if any of the following apply (Please contact the Office of Research Administration for information on these sponsored research grants):
- Funding is from a government source
- Intellectual property is owned by an organization other than WPI
- Someone other than WPI owns the result of this research or project, and the result has marketable value
- Program activity is managed by the funder
Professional services may not be treated as a gift. Those who wish to provide services may be encouraged to bill WPI for the service, accept payment from the University, and then make a gift to WPI in the form of a check for the same amount.
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Maintained by webmaster@wpi.eduLast modified: April 24, 2007 15:23:49