Sources of Funding
A type of financial assistance for the conduct of research or other program as specified in an approved proposal. A grant, as opposed to a cooperative agreement, is used whenever the awarding office anticipates no substantial programmatic involvement with the recipient during the performance of the activities. Grants are normally awarded by sponsors whose purpose in supporting research is scientific, cultural or philanthropic.
A mechanism for procurement of a product or service with specific obligations for both sponsor and recipient. Typically, a research topic and the methods for conducting the research are specified in detail by the sponsor, often in the Request for Proposal (RFP) which announces the funding opportunity. In general, there are greater performance expectations associated with contracts, including project milestones and detailed deliverables (e.g., reports). The arrangement is usually designed to benefit the sponsor by achieving an expected outcome or product.
- Cooperative Agreement
An award similar to a grant, but in which the sponsor’s staff may be actively involved in proposal preparation and anticipates having substantial involvement in research activities once the award has been made.
A voluntary, non-reciprocal transfer of money or property from a donor to an institution. The donor may be an individual, a corporation or a non-profit organization. The donor does not expect anything of value in return other than recognition and does not exert control over expenditure of the funds. 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, or project. If the donor does not specify any restrictions, the gift is unrestricted and the institution allocates the funds according to its own discretion. Only University Advancement may accept gifts on behalf of the University.