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Sponsored Projects Funds

Guidelines for Using Sponsored Project Fund

I. General Oversight of Funds

  • Contributions are given to the Hitchcock Foundation for the support of research and/or education at the Dartmouth-Hitchcock Medical Center. The disposition of all funds is governed by the Hitchcock Foundation Board of Trustees. Funds shall be used to further the research and educational interests of Dartmouth-Hitchcock Medical Center.
  • Sponsored Project Funds may be established for specific projects or studies governed by a protocol or sponsor agreement and approved by the Executive Director of the Foundation under the authority of the Board of Trustees. When a Special Project Fund is established, the Foundation will appoint the principal investigator as fund advisor to advise the Foundation on expenditures from the fund.
  • All expenditures shall be for research and/or education and shall be subject to approval by the Foundation. A fund advisor may seek the prior approval of the Foundation for any expenditures or any financial obligation.
  • Requests for dispersal of Sponsored Project Funds must come from each fund's advisor or that advisor's designee. Supporting information for the request is required.

II. Financial Considerations

  • New Sponsored Project Funds must have an initial balance of at least $250.
  • A minimum balance of $250 must be maintained in a Special Project fund. If the balance of a fund falls below $250, the fund's advisor will be notified. If the fund remains below $250 for more than 6 months, the fund will be closed and the balance transferred to an existing fund whose purposes in the opinion of the Foundation and in consultation with the fund's advisor most nearly approximates the purposes of the fund.
  • Interest will be paid on Sponsored Project Funds with balances of more than $5,000. The annual rate of interest to be paid will be established yearly by the Board of Trustees.
  • Fund advisors will be responsible for any expenditures that exceed the balance of the fund.
  • In the case of sponsor-initiated studies, the sponsoring party shall indemnify and hold the Hitchcock Foundation and its employees harmless from any and all liability, expenses, costs, damages and/or losses of any kind arising out of or in conjunction with this study or project, except to the extent that such judgments or liabilities arise in whole or in part from the gross negligence or willful misconduct of the Hitchcock Foundation or its employees.

III. Special Types of Expenditures

  • Funds may be used for expenses associated with travel to activities of scientific and educational merit.
  • The disposition of equipment will be as specified in the original agreement. If the disposition of equipment is not addressed within the original agreement, the title to equipment purchased with Sponsored Project Funds shall be vested in the department of which the principal investigator is a member.
  • At the completion or termination of the project or study, the unexpended balance of Sponsored Project Funds will be handled as described in the sponsor agreement. If the sponsor agreement does not address this issue, the unexpended balance, subject to the approval of the Foundation, will be placed in an Advised Fund whose advisor will be the original study/project's principal investigator. In the case of studies where the study is not uniquely attributable to a single principal investigator, the appropriate department official will be designated as the fund advisor.

IV. Change in Status of Fund Advisor

  • Generally speaking, Sponsored Project Funds are for research at the Dartmouth Hitchcock Medical Center. In some instances, the Hitchcock Foundation will allow the transfer of Sponsored Project Funds to another institution that, in the opinion of the Foundation, is qualified to accept funds and agrees to manage the funds under the same restrictions as the Hitchcock Foundation. Two examples: (1) funds given to a specific researcher for research for which that researcher is uniquely qualified; (2) a corporate sponsored research project that will not be continuing at DHMC. Please note: the above are not instances that necessarily satisfy the exceptions. Each instance will be addressed individually by the Foundation in consultation with the fund advisor, taking into consideration the source and purpose of the funds. This does not apply to equipment.
  • In the event a fund advisor retires or otherwise leaves DHMC without advising the Foundation as to the disposition of a fund for which he/she is an advisor, the fund will be handled in accordance with any governing protocol or sponsor agreement. If there is no controlling language in the protocol or sponsor agreement, the fund will be closed and the balance transferred to a fund whose purposes, in the opinion of the Foundation and in consultation with the department chair, most nearly approximates the purposes of the original fund.
  • If a fund advisor retires at Dartmouth-Hitchcock Medical institutions or Dartmouth College and wishes to continue to use Foundation funds for research or educational activity at those institutions, he/she may do so if:
    1. The Foundation determines that the activity satisfies Foundation guidelines;
    2. He/she has a letter of commitment from his/her department chair or director supporting the proposed activity, e.g. any required institutional support, access to facilities, etc.
  • Fund advisors transferring to another institution are governed by the provisions in IV.A. above.
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