Nonmonetary Awards

Nonmonetary awards should also meet the definition of a University Award:

Awards must result from a contractual obligation (enrolled in, entered in, participated in, etc.) of the following criteria:

  1. Exists prior to an individual's performance (not to be confused with work   

related service),

  1. Is based on predetermined objective standards, and
  2. Is subject to a stated maximum amount

Examples of an award are as follows: recognition for some sort of special achievement, special skill, special acknowledgement, special recognition, or an award in a contest.

Nonmonetary award items such as a graduation cord, trophy, plaque, or name plate that is under $25, can be purchased without additional review or the use of USM Foundation funds or Office of Research Administration (Grants).

In the event you are awarding any recipient a nonmonetary items such as diploma frames, photo frames, or extravagant award items with a cost above $25, additional approval is required and the award payment must be processed using:

  • USM Foundation and/or
  • Office of Research Administration (Grants)

 

Please contact Tax Compliance (6-4102) before the purchases of these items.