Gift Overhead Assessment

All applicable gifts, both spendable and endowment, are subject to a minimum 15% overhead assessment to be directed towards associated program costs and other administrative costs related to supporting the University’s mission. This assessment is automatically applied at the time the expense is incurred (spendable gifts) or when quarterly payout is credited (endowments).

Expenses incurred for (i) tuition-reducing financial aid or (ii) capital projects are excluded from this assessment.

If a donor specifically disallows administrative costs to be applied to otherwise eligible donations, the department benefiting from the gift fund is responsible for covering the associated overhead with other sources, i.e. other departmental funds. It is the responsibility of the Department to ensure that there are sufficient funds in the alternate sources to cover those overhead charges, incorporate any such substitution in their budget submission and inform the Budget Office accordingly.

Any exception to this policy is at the discretion of the (i) President, or (ii) collectively, the Provost and the Executive Vice-President.