Residual funds that become gifts Kim Dunbrook-Babbie 23 Aug 2005 14:54 EST

If a pharmaceutical company authorizes our institution to keep a large
residual balance and states we can use the funds to further our research
at our discretion, we believe the funds have to be reclassified as a
gift restricted to research expenses.  Does anyone have any experience
with this?

Kim Babbie
518-262-5496
Albany Medical Center

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