Program income is gross income earned by the recipient that is directly generated by a supported activity or earned as a result of a sponsored award. When NYU engages in such activities, program income must be accounted for in the manner prescribed by sponsor regulations and NYU’s Policy.

NYU Approach

For federal awards, program income can be managed in the following ways:

  1. Deduction. Ordinarily program income must be deducted from total allowable costs to determine the net allowable costs.
  2. Addition. With prior approval of the Federal awarding agency program income may be added to the Federal award by the Federal agency and the non-Federal entity.
  3. Cost sharing or matching
    With prior approval of the Federal awarding agency, program income may be used to meet the cost sharing or matching requirement of the Federal award. The amount of the Federal award remains the same.
  4. Income after the period of performance. The Federal awarding agency may negotiate agreements with recipients regarding appropriate uses of income earned after the period of performance as part of the grant closeout process.

For non-Federal awards, stipulations around program income should be addressed in the sponsor’s terms and conditions or by contacting the sponsor through the Office of Sponsored Programs (OSP). Proceeds from the sale of property shall be handled in accordance with the requirements of the Property Standards as defined in OMB Uniform Guidance, Sections 200.317 to 200.326

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