DEFINITION OF SPONSORED AGREEMENTS AND GIFTS

How To Distinguish Grants And Contracts From Gifts

Grants and contracts (sponsored programs) may be distinguished from gifts as follows:

Sponsored programs are situations where the University agrees to specific conditions and/or to perform a defined scope of work as defined by the sponsor.  

• An investigator-initiated project that specifies proposals for research, training, and/or service activities to an outside entity.  

• The proposed project binds the University to a specific scope of work.

• A formal agreement for a specified term is established and signed by an officer of Virginia Commonwealth University (VCU) and the sponsoring agency.

• The project involves disposition of property, whether tangible or intangible, that may result from the project (e.g. equipment, records, inventions, copyrights, or rights in data).

• The sponsor requires invoices for cost reimbursement and/or a financial report is required.

Typically sponsored programs include the following conditions:

• Submission of detailed report of performance and a fiscal report subject to audit,
   

• Return of funds or goods not consumed,
   

• Confidentiality of results, and
   

• Delivery of anything of value to the sponsor.

Some Types of Sponsored Agreements

• Clinical Trials - Agreements that provide for the testing of a drug or device on a human subject.

• Contracts - Financial support for a specific task, with the project usually initiated by the sponsor.  Terms and conditions, specific to the award, generally must be negotiated prior to acceptance of the contract.

• Cooperative Agreement - A financial assistance mechanism used when substantial sponsor involvement with VCU is anticipated during performance of the activities.

• Grant - A financial assistance mechanism providing money, property, or both to VCU to carry out an approved project or activity.  A grant is used whenever the sponsor anticipates no substantial programmatic involvement with VCU during performance of the financially assisted activities.

• Industry Sponsored Agreement - An agreement with VCU that involves interactions with the private sector.

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