Program Income is income earned by a grant recipient from activities which are supported by the direct costs of an award. It includes, but is not limited to:
- Fees earned for services performed under the grant, such as those resulting from laboratory drug testing.
- Rental or usage fees, such as those earned from fees charged for the use of computer equipment purchased with grant funds.
- Third-party patient reimbursement for hospital or other medical services, such as insurance payments for patients where reimbursement occurs because of the grant supported activity.
- Funds generated by the sale of commodities, such as tissue cultures, cell lines, or research animals.
- Fees received to attend conference or workshop funded by a sponsored project.
This income must be appropriately documented and the resulting revenue and expenses properly recorded and accounted for. This income must be administered through a program income account established by the Research Foundation.
Program Income is the property of the sponsor and is to be accounted for in accordance with the Terms and Conditions of the Award.