A transfer of money or property donated to an institution. An endowment may come with stipulations regarding its usage. In some circumstances an endowment may be required to be spent in a certain way or alternatively invested, with the principal to remain intact in perpetuity or for a defined time period. This allows for the donation to have an impact over a longer period of time rather than all at once.
A contingent liability or charge to a restricted account that holds funds in abeyance until the actual liability amount is determined and recorded as an expense. Salary amounts for an entire year, for example, may be encumbered on a grant account, but will be paid out monthly as funds are expended.
A person who performs services for UGA is an employee, if UGA controls what will be done and how it will be done. Generally, Social Security and Medicare taxes and unemployment taxes on wages are paid by the employer and deducted from the employee on behalf of an employee. One does not generally have to withhold or pay taxes on payments to independent contractors. The general rule is that an individual is an independent contractor if UGA, as the entity for whom the services are performed, has the right to control or direct only the result of the work and not the means and methods of accomplishing the result. A UGA employee cannot be budgeted on a restricted account as a consultant or as a subcontractor, as only individuals or entities with no employee relationship to UGA can be budgeted thusly.
Employees are paid a salary for work performed under the control of UGA. Fellows receive a stipend and are considered to be in an educational or training role. It is important to appropriately categorize these activities, as there are important Internal Revenue Service implications.
Eligibility to serve as a Principal Investigator (PI) at UGA is restricted to certain positions or job classifications at UGA. Those positions are listed in the Eligibility to Submit Proposals policy.
The computer-based system used to perform financial transactions electronically. An EFT is the electronic exchange or transfer of money from one account to another, either within the same financial institution or across multiple institutions.
EINs (Employer Identification Numbers) or TINs (Tax Identification Numbers) are IRS identification numbers for invoicing and tax purposes that are assigned to the University of Georgia (UGA) and the University of Georgia Research Foundation (UGARF). UGA and UGARF are separate entities and have separate EIN/TIN numbers. Proposal submissions through Grants.gov and to other sponsors require that the applicant’s identifier EIN/TIN be correct, so be sure you are using the correct entity and its associated EIN/TIN when you submit a proposal.
Another identification system frequently required by sponsors is based on a Dun and Bradstreet registration number, commonly known as a DUNs number (Data Universal Numbering System). DUNs numbers are assigned to most businesses (both for-profit and non-profit in the US). Like EINs/TINs, the University of Georgia (UGA) and the University of Georgia Research Foundation (UGARF) have separate DUNs numbers. Depending on the sponsor, you may be required to provide a DUNs number or EIN/TIN number, or both, for the particular entity under which your application is being submitted.
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UGA |
UGARF |
|
|
EIN/TIN |
58-6001998 |
58-1353149 |
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DUNs |
61-900-3127 |
00-431-5578 |
The method of certifying that an individual was compensated based on activity performed during the reported period, in accordance with what he/she agreed to in the awarded budget. Effort reporting at UGA is captured in the Personnel Activity Report (PAR) system.
