Some awards require the University to allocate additional resources to achieve the grant objectives. This cost sharing could be Matching Funds, where the University agrees to provide cash resources to support the grant, or In-kind Contributions, where the University would allow non-cash resources, such as faculty time, to be used to support the grant.
Generally, a match or in-kind contribution should not be committed unless required. A match or in-kind contribution committed to a project must be approved during the routing process. Quantified contributions must be tracked upon award. This includes those committed by Loyola and any partners participating in a project.
A match or in-kind contribution may only be obligated against one grant. For example, if Loyola demonstrates that it has spent $5,000 in supplies as part of the required match for one grant it cannot use these same $5,000 to fulfill an obligation of matching funds to another organization that is supporting the same project.
The ORSP works with PIs to facilitate approval of any contribution that may be required by a sponsor. While this occurs formally through the routing process, it is important to discuss this early in order to allow sufficient time for the contribution to be approved. If a contribution has not been requested and formally approved during the routing process, it will not be available when the award is received. In such cases, and particularly if the contribution is substantial, the University may choose to decline the award.