Capital Funds: Money to purchase land, buildings, equipment, etc. that are used to produce products or provide services.
Corporate Contributions: Financial support from a business, not through a related Foundation.
Direct Costs: Costs which relate to the specific project. Examples: contracted faculty for April – May workshops, supplies for the summer camp program.
Diversity, Equity, Inclusion (DEI)
Diversity: Individual differences (e.g., personality, prior knowledge, and life experiences) and group/social differences (e.g., race/ethnicity, class, gender, sexual orientation, country of origin, and ability as well as cultural, political, religious, or other affiliations).
Equity: The creation of opportunities for historically underserved populations to have equal access to and participate in educational programs that are capable of closing the achievement gaps in student success and completion.
Inclusion: The active, intentional, and ongoing engagement with diversity—in the curriculum, in the co-curriculum, and in communities (intellectual, social, cultural, geographical) with which individuals might connect—in ways that increase awareness, content knowledge, cognitive sophistication, and empathic understanding of the complex ways individuals interact within systems and institutions.
Equipment: Equipment to be purchased, or rented, in direct support of the project.
Foundation Support: Generally a grant received for specific project support or shared operating support.
Fringe Benefits: Something that a person receives for working in addition to pay, which is not in the form of money. Example: health insurance.
Government Support: Financial support received from government agencies (Federal, state, county, and city).
Indirect Costs: Indirect costs, sometimes called overhead or common cost pool, do not relate solely and specifically to a particular project, but are necessary to its completion. Examples: office rent, telephone, etc.
In-Kind Goods / Services: In-Kind contributions comprise donations of professional services or other goods and services. You should not record an In-Kind donation unless you would have to pay for the goods / service, if it was not received as “In-Kind”. In-Kind contributions are net-zero (i.e., contribution and expense are equal, so they do not affect the bottom line net; however, they increase the magnitude of the income and expenses. Volunteer hours do not qualify to be reported as income under GAAP (Generally Accepted Accounting Principles). Alternatively, a narrative note in your proposal should describe the role of volunteers and impact of their hours.
Investment Income: Earned income. Examples: Interest, dividends on an endowment.
IU Connections: Includes any IU campus, department, unit, or organization.
Marketing: The total cost associated with delivering goods or services to customers. The marketing cost may include expenses associated with transferring title of goods to a customer, storing goods in warehouses pending delivery, promoting the goods or services, or the distribution of the product.
Personnel: Costs of staff assigned to the project comprising actual salaries plus social security charges and other statutory costs included in the remuneration.
Supplies / Materials: Includes all consumable materials purchased in direct support of the project. NOTE: Food and swag items are not consistently approved for funding.
Variable Costs: Variable costs are usually project oriented and are controllable or adjustable. Examples: number of participants served by a project, number of weeks a project runs, number of exhibitions or concerts, local or international. Semi-variable costs are in between. These must happen, but can be mitigated somewhat. Examples: color versus black & white for a print job, short-term rental versus purchase of equipment.