Incentive Program

Incentive Program

The purpose of the Incentive Program is to return recovered indirect funds from grants and contracts to the institute and Principal Investigators (PIs) who gain these awards as well as to create Scholars and Defrayed Costs programs. The Incentive formula is calculated on the net indirect revenue each fiscal year.

Up to $100K - Incentive Program receives 80% and the University Corporation at Monterey Bay (University Corporation) receives 20%
Above $100K - Incentive Program receives 60% and the University Corporation receives 40%

The Incentive funds are then distributed according to the following categories based upon the indirect recovered by each award.

50% to the Institute procuring funding
25% to the PI for Professional Development expenses
10% to the College or AVP
15% to Defrayed Costs Program

The Incentive funds for the institutes and PI categories will be put into individual University Corporation accounts and managed by G&C with the accounting done by University Corporation Accounting.

Directors and PIs can use these funds for legitimate operating and professional development expenses related to external funding (for example, assigned time, professional travel, student assistance, equipment, etc.). These funds will roll over year to year. Each director responsible for the institute funds will develop an annual report outlining how these funds were used and submit this report to G&C.

The Defrayed Cost Program will help cover faculty costs for: page charges, referred publications, significant exhibit or performance costs, and other costs required by scholarly production. Written requests for funding will be reviewed by G&C.

Incentive Funds will be allocated to the institutes and PIs after the University Corporation audit is completed for the fiscal year.