Office of Sponsored Programs (OSP)
Corporate & Foundation Relations (CFR) Gift/Philanthropic Grant Philanthropic grants are typically provided by private foundations, industry, non-government entities or individuals
Grant/Sponsored Project
Funding Source
External funding for sponsored programs can include the following types of sponsors: federal, state, Virginia city/county, industry, foundation, private/non-profit, non-VA government and other universities. Awarded funds are managed through the Office of Sponsored Programs - Financial Services.
Fund Management
Awarded funds are managed through the JMU Foundation
Description Represents an “exchange transaction” in which each party receives commensurate value
Represents a “contribution,” an unconditional transfer of cash or stock which is voluntary and non- reciprocal No contractual requirements are imposed. The gift may be for a stated purpose and is administered with the restrictions imposed by the donor at the time of the gift
Contractual Obligations
Allows the university to be penalized for nonperformance. Commits the university to a specific line of scholarly or scientific inquiry to be documented by a research plan or statement of work. Specifies commitment regarding the level of personnel effort, deliverables or milestones. Includes terms and conditions for disposition of tangible or intangible property
Reporting Usually has reporting requirements (including detailed financial reporting beyond summary of expenditures) or specific restrictions on how the money can be spent
Reporting is not a condition of the gift. No formal fiscal accountability beyond periodic progress reports and reports of expenditures as a form of good stewardship, rather than contractual obligation No required time period over which the work will be done (no completion deadline) Contributions are irrevocable (no request for unused funds to be returned to the awarding agency/ foundation/corporation) Does not include personnel costs
Period of Performance
Usually has a specified time period over which the work will be done (a start date and an end date) Sometimes requests that unused funds be returned to the awarding agency/ foundation/corporation
Right of Return
Personnel Might include personnel costs
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Corporate and Private Foundation Funding Guidebook
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