7.9 Definitions

7.9.1 Bequest

The transfer of property (except real estate) under the terms of a Last Will and Testament.

7.9.2 Contribution

A sum of money voluntarily provided in response to a request or campaign seeking funds.

7.9.3 Deferred Gift

A gift divided into a present interest and a future interest, usually by means of annuity, where the donor irrevocably gives one interest (such as annuity payments to the University for a span of years starting at a future date) but personally retains the remaining interest. 

7.9.4 Designated Gifts (or Designated Funds)

Gifts of money for a purpose that is only loosely described by the donor. Typically, a designated gift merely specifies a particular recipient, but the use of the money is not prescribed, e.g., JPY 3 m given as "shogakukifukin Fund (donation type ) ", $5,000 donated for use by the University Child Care Center, $500,000 donated to support the Library, or $75,000 donated to the general endowment. The relevant decision-makers and budget managers thus have some discretion to decide how designated gifts are expended. Compare “restricted gifts”.

7.9.4.1 Shogakukifukin (donation type): a fund which is donated to support education and research activities of the specific research unit without requiring submission of a report on usage, etc. to the donor. See "Instruction Regarding Shogakukifukin Fund (donation type)"  

7.9.5 Devise

The transfer of real estate under the terms of a Last Will and Testament.

7.9.6 Donation

Money or other tangibles voluntarily given to a charity, church, nonprofit educational institution or other nonprofit entity or foundation.

7.9.7 Donation Fund

A pool of donation designated for a specified program or project.

7.9.8 Donation-funded Course, Research Unit, and Chair

• Donation-funded Course: A course and an educational program established or supported by a donation fund from individuals, corporations and other organizations.
• Donation-funded Research Unit: Research Unit and other research projects equivalent to Research Unit established or supported by a donation fund from individuals, corporations and other organizations.
• Donation-funded Chair: Faculty position established or supported by a donation fund from individuals, corporations and other organizations. This includes Professor, Associate Professor and Assistant Professor or equivalent faculty positions.

7.9.9 Gift

A thing (or things, including money) voluntarily transferred by one person to another person or to an entity, without remuneration by or any other form of consideration from the person or entity to whom the transfer was made.  

7.9.10 Grant

7.9.10.1 Research Grant
Money given to individuals (and sometimes to groups) to explore various fields of study, most often in response to a proposal seeking funding for a specific area of research. Grants cover the cost of research plus provide the researcher(s) with income. Governments, private sector entities, and individuals all fund research through grants. A grant is not a “gift” because the grantor effectively determines how the money is to be used, requires audits of expenditure, places time and other constraints on the research, and requires periodic reports, among other things. Applicant should seek for an approval by the Dean of Research through the Grants Section before applying for research grant.
The Grants Section or the Business Development Section will assist the applicant in financial report, activity report, audit and other required activities by grantor. Overheads from research grant shall be as stipulated in the PRP27.5.3.

7.9.10.2 Non-Research Grant
Non-Research Grant is important external funds to promote the University's operation. Non-Research Grant is money given to individuals (and sometimes to groups) to response to a proposal seeking funding for a specific administrative work. Applicant should seek for an approval by the Vice President of applicant's division. Applicant should report the details of the application and screening result to the Grant Section at the earliest possible. Applying division shall conduct financial reporting, activity reporting, audit and other required activities by grantor on division's responsibility. Overheads from non-research grant shall be as stipulated in the PRP27.5.3. However, in the case that rules for overheads is not specified by grantor, all recieved amount can be used for the purposes of the grant.

7.9.11 Restricted Gifts (or Restricted Funds)

Donated money specifically designated as to both purpose and recipient by the donor, e.g., $200,000 to fund summer research student stipends in chemical engineering, $5,000 to purchase a specific item for evolutionary biology research, or $50,000 to the office of the Dean of the Graduate School to be used to recruit geology students who also play the tuba. The relevant decision-makers and budget managers have very little or no discretion regarding the use of restricted gifts. Compare “designated gifts”.

7.9.12 Donation Review Committee

The OIST internal committee established to review proposals for donations and recommend to the President whether to accept the proposed donations.