Program Income is income earned that is directly generated by a sponsored project. It must be accounted for in accordance with the sponsors terms and conditions and reported to the sponsor.
What is Program Income?
Stanford defines program income as gross income earned by Stanford that is directly generated by a supported activity of a federal award or earned as a result of the federal award during the award’s period of performance.
What is Included in Program Income
Program income includes but is not limited to income from:
- fees for services performed under the award
- the use or rental of real or personal property acquired under federal awards
- the sale of commodities or items fabricated under a federal award
- principal and interest on loans made with federal award funds
Registration fees collected under National Science Foundation supported conferences are considered program income.
What is Not Included in Program Income
Program income does not include:
- license fees and royalties on patents and copyrights
- proceeds from the sale of real property, equipment or supplies
- interest earned on advances of federal funds
- rebates, credits, discounts, and interest earned on any of them unless specified in the award terms and conditions or regulations
Federal Contracts & Non-Federal and State of CA Awards
If income is generated on a Federal Contracts contact the Director of Financial Compliance & Services (RFCS), listed above or the Office of Sponsored Research (OSR) for guidance.
Non-federal and State of California awards are not required to account for program income unless specified in the award terms and conditions or regulations.