Types of Awards

Below are types of awards received for sponsored projects:

  • Grants - the principle purpose of a grant is the transfer of money, property, services, or anything of value to the recipient in order to accomplish something for the public good.  Most federal agencies use a grant document for research awards to universities.  For grants there is little involvement between the governmental agency and the recipient during the performance of the activity.

  • Cooperative Agreement - the principle purpose of a cooperative agreement is the transfer of money, property, services, or anything of value to the recipient in order to accomplish something for the public good.  A cooperative agreement is like a grant except that the sponsor will have substantial involvement in the activity that is being funded, perhaps bringing sponsor personnel to the university to work on the project.

  • Contract - The principal purpose of a contract is for the sponsor to acquire by purchase, lease, or barter property or services for the direct benefit and use of the sponsor.  For contracts there is substantial involvement between the sponsor and the recipient during the performance of the activity.

A fixed price contract or grant is one in which the sponsor will pay the University a predetermined amount, regardless of actual costs, for satisfactory performance of work.

A cost-reimbursable contract or grant is one in which the sponsor will reimburse the University for any actual, approved costs incurred in the conduct of the work up to an agreed-upon amount.