Please find below the difference between a gift versus a grant, and the parties responsible for their management.
- The funding agency expects you to provide deliverable(s)
(i.e., product, service, scientific report, fiscal reports, or audits).
- The funding agency expects you to enter into a written agreement that is legally enforceable (i.e. administrative terms and conditions for use of funds, provisions for intellectual property, provisions for reporting or publication rights, or any other legal provisions).
- Failing to provide a deliverable will result in the sponsor taking actions against the University.
Gift characteristics include:
- Irrevocable transfer of funds or other valuable articles
- Unrestricted use of funds
- No donor-imposed time limits
- No deliverables or benefits expected by the donor
For more information, visit: UNC Guideline Document 1.0 - Defining Sponsored Programs (DOCX)