Most funds are charged with some type of overhead or administrative assessment fee. The charges help recoup a portion (less than 50%) of the University's charges to the School for central University costs. The charges for gift funds and unrestricted designated funds is 15%. Following is a summary of the assessments by fund type:

Fund Type (HMS # Range)
Rate
Charge Frequency
Calculation
Gift funds
(362000 - 365999)
15%
Monthly, but only as funds are expended
Expenditures x Rate
Unrestricted designated funds
(024000 - 028999)
15%
Monthly, but only as funds are expended
Expenditures x Rate
Sponsored funds
(223700 - 225699)
(280000 - 281999)
Varies by award
Monthly, but only as funds are expended
Expenditures x Rate
Endowment funds
(600000 - 614999)
20% of endowment income
Annually, as part of the income distribution and allocation
Annual Income Distribution x Rate

Unrestricted undesignated funds, i.e., budget funds, and certain current use gift, endowment and unrestricted designated funds that support the School's budget directly (vs. controlled at the department level such as a discretionary gift fund under the direction of a faculty member) are not charged. FOA personnel discuss the assessment with the department as part of the fund establishment process.




Harvard Medical School. Last Updated: February 2003. Send feedback to: foa@hms.harvard.edu