Gift

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OSP: An unrestricted donation to the University, or a donation whose uses may be restricted to an academic area or to a defined group of academic, departmental or other University activities (a “restricted gift”).  Gifts typically carry no reciprocal obligations between donor and recipient, and are often unrelated (or only indirectly related) to the business interests or mission of the donor.

DSP: A gift is a type of funding voluntarily given by the sponsor to the university without anything being given in return to the sponsor. The university is free to use non-restricted gifts however it wishes. Restricted gifts must be used for the specific purpose designated by the sponsor. Gifts are generally processed by the University of Iowa Foundation.

Umich: A voluntary transfer of money or material goods from an individual or entity to the University without a return of commensurate value. It may or may not be given for any specific purpose. Gift funds from a private source do not provide a benefit to the donor, including results from a defined project.

Rugters: Funds from a private source that do not provide a benefit to the donor, including results from a defined project. A transaction involving the transfer of funds by a third party to the University without any requirement on the University’s part to provide the third party (i) any direct economic benefit, or (ii) a return of any unused funds.

Utah: 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. The unique flexibility, or lack of restrictions, makes gifts attractive sources of support.