Revision Date: December 19, 2018
Responsible Office: URA
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GIFT or GRANT?
If the source of funds is a Government agency, it may NOT be treated as a gift. If you receive a check from a foundation, corporation or other non-Government source, you must consider the intent of the donor/sponsor and take the following into consideration:
| Grants | Gift | |
|---|---|---|
| Description | Represents a relationship where each party receives measurable value. | Represents a voluntary contribution of cash with no expected return of information. |
| Statement of Work | Generally awarded in response to a proposal that describes a specific plan for the project. | May be designated to support a general purpose (cancer research, building renovations, etc.), area/unit (Urban Education Institute, Physical Sciences Division, etc.) or project, there is no detailed project methodology. |
| Financial Accountability | Detailed financial accountability is required. | Typically does not include a line item budget. |
| Deliverables | Includes terms and conditions | Does not include terms and conditions |
| Reporting | Typically requires reporting on the progress of the work and how the money has been spent | Limited reporting may be required |
| Time period | Usually has a start and end date defining a project period | No defined project period |
| Funding | Requirements may exist that stipulate unused funds be returned to the funding entity. | Unexpended funds generally do not need to be returned |
Generally, a gift is defined as a contribution with no reciprocal benefit to the donor.