1)  VCU would consider this a sponsored program rather than a gift.  It
appears to fit the "exchange transaction" rather than "non-exchange
transaction" definition.  (See NACUBO website).

2)  Watch out for the clause "Section 501(c)(3) of the Internal Revenue
Code" -- many state universities have their non-profit status under a
different section applying to instrumentalities of government.  I have only
found ONE foundation that does not accept that the government tax exception
is equivalent for their purposes, but you might check to make sure.

Chuck

At 08:17 AM 1/31/2003 -0700, you wrote:
>How would your university handle a grant awarded with the conditions
>described below from a private foundation? Would the grant be administered
>by the foundation or by the university sponsored projects/grants office?
>
>The award in question is from private foundation whose literature states
>that "Grants are awarded to nonprofit public charitable organizations that
>are tax exempt under Section 501(c)(3) of the Internal Revenue Code". The
>purpose of the grant is to "recruit and train (ethnic minority) school
>administrators". The grant was "paid up front" rather than cost
>reimbursement, and allows 15% indirect costs which the foundation would
>intend to claim if grant expenditures are made directly from the foundation
>rather than from the university. The deliverable is a final product
>report/video to help distribute knowledge/lessons learned to others in the
>field. Other specific terms and conditions are that the award is revocable,
>a period of performance is specified, a detailed financial report is
>required showing how the funds were expended, and unexpended funds must be
>returned.
>
>Thanks for your responses, and please feel free to respond to me directly
>at xxxxxx@nau.edu
>
>Wilma G. (Winnie) Ennenga
>Director, Office of Grant and Contract Services
>Northern Arizona University
>BAC 100C, Building 51, Knoles Drive
>Flagstaff, AZ 86011-4130
>
>Telephone: 928/523-8319   Fax: 928/523-1075
>
>
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Herbert B. Chermside, CRA
Director, Sponsored Programs Administration
Virginia Commonwealth University
PO BOX 980568
Richmond, VA  23298-0568
Express Delivery Only:
 Biotech One, Suite 113
 Virginia Biotechnology Research Park
 800 East Leigh Street
 Richmond, VA 23219
Voice:  804-828-6772
Fax     804-828-2521
OFFICE e-mail   xxxxxx@VCU.EDU
Personal e-mail xxxxxx@vcu.edu
http://www.research.vcu.edu/ospa.htm

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 subscription information and a web-searchable archive, are available
 via our web site at http://www.hrinet.org (click on "Listserv Lists")
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