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Gifts, Grants, and Contracts 4-H State Team Meeting

December 5, 2012. Gifts, Grants, and Contracts 4-H State Team Meeting. Topics. Gift/Grant Decision Tree Examples. Before we start……. What questions would you like us to address today?. Is it a gift? Yes, if…. Donor is an individual, company, association, or foundation

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Gifts, Grants, and Contracts 4-H State Team Meeting

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  1. December 5, 2012 Gifts, Grants, and Contracts4-H State Team Meeting

  2. Topics • Gift/Grant Decision Tree • Examples

  3. Before we start…… What questions would you like us to address today?

  4. Is it a gift? Yes, if… • Donor is an individual, company, association, or foundation • Qualifies as charitable contribution by IRS • Donor may define the purpose • Unexpended funds do not have to be returned • No quid pro quo • A report of expenditures may be requested • Research results are not required to be shared

  5. Is it a grant? Yes, if… • Project has stated goals and objectives • The sponsor has expectations about how the funds will be spent • Grant deliverables may include formal project reports. • A detailed financial report is required.

  6. Gifts vs. Grants Process • No F&A charged to gifts • Gifts can be solicited at the local level or with the help of the development office • Some gifts are also unrestricted grants and need to be processed through the grants and contracts office • Modest F&A for unrestricted grants with some formal deliverable requirement • Amount of F&A varies based on sponsor

  7. Gifts vs. Grants Process

  8. Decision Tree A. Funding Opportunity B. Penn State University • Funder accepts PSU EIN Action: • Solicit locally if gift for a county • Contact development if gift for state program team • Contact grants and contracts for all others B. PS Philanthropic Fund • Use only if funder will NOT accept PSU EIN • Funding is a gift requiring no more than a stewardship report at the end of the year ONLY Action: Contact Grants and Contracts

  9. Examples • Local Foundation to fund a county program • Website states that they only pay 5% overhead • Requires a binding signature • A follow up letter is required to confirm the use of funds • Company to support robotics clubs in multiple counties • Online application will not accept PSU EIN • Requires binding signature and tax status

  10. Examples 3. Corporate donation for a county program • Accepts PSU EIN for online application • Requires a proof of tax status • No detailed follow up is required 4. Corp Foundation to support multi-county/ statewide programs • Accepts PSU EIN • Gift recognized at statewide events with no formal report back.

  11. Opportunity to continue discussion Extension Volunteer/Staff Fundraising Session December 20, 2012 8:00am – 9:30am - Discuss follow up topics from this meeting - Announcements sent via email https://meeting.psu.edu/ksfundraising/

  12. Questions? Ag Sci Development Office 814.863.1373 Grants and Contracts Office Penny Regel plr5@psu.edu 814.865.5419

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