What is a Gift?
Gifts
and bequests are awards given with few or no conditions
specified. Gifts may be provided to establish an endowment
or to provide direct support for existing programs.
Frequently, gifts are used to support developing programs
for which other funding is not available. Gifts are
donations to the Institution on behalf of a Faculty
Member. A gift is usually restricted to research. However,
it's unrestricted in terms of how the funds are spent.
A gift is non-reciprocal.
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What is a Grant?
A grant is a financial assistance award to the University
in the name of a Principal Investigator to assist the
organization in the conduct of research or other program
as specified in an approved proposal.
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What is a Contract?
A contract is an Award to the University in the name
of a Principal Investigator to carry out a specific
task for a Government Agency as described in a request
for proposal (RFP), or Request for an Application (RFA),
etc. Contracts are awarded to bidders submitting proposals
that best meet the requirements of the announced work,
within a competitive budget range.
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What is a Clinical Trial?
Any investigation in human subjects intended to discover
or verify the pharmacological and/or identify any adverse
reactions to an investigational product(s), and/or to
study absorption, distribution, metabolism, and excretion
of an investigational product(s) with the object of
ascertaining its safetly and/or efficacy. Clinical Trials
are often sponsored by Industry (ie, pharmaceutical
companies).
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What is a Sponsored Research
Agreement?
A research study that comes specific terms and conditions
not under the normal research grant or contract. One
example is an agreement between a Sponsor and a PI to
perform specific research functions.
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