Sponsored Project – GCO

A sponsored project is an externally-funded activity or activities in which a formal written agreement, is entered into by Mount Sinai and the extramural funding agency generally after a competitive peer review process. These awards often require performance of specific duties such as research and typically require budget reports, progress reports, and the return of unused funds. Below are the primary four types of sponsored projects.

Grant
A type of financial assistance mechanism providing money, property, or both to Mount Sinai to carry out research or other approved project or activity.

Other frequently used terms: Assistance Mechanism

Cooperative Agreement
A type of grant award in which there is substantial scientific or programmatic involvement from the extramural funding agency. Substantial involvement means that, after award, scientific or program staff will assist, guide, coordinate, or participate in project activities.

Other frequently used terms: U-series (NIH)

Contract
A mechanism for procurement of a product or service with specific obligations for both Mount Sinai and the extramural funding agency and recipient. Typically, there are greater performance expectations associated with contracts, including project milestones and detailed deliverables (e.g., reports). The arrangement is usually designed to benefit the extramural funding agency by achieving an expected outcome or product.

Other frequently used terms: Acquisition Mechanism

Other Transaction Authority (OTA)
Another Transaction Authority is limited to those government agencies and operational divisions with appropriated authority and is a funding mechanism that targets non-traditional sources and allows a high degree of flexibility in how the agreement is awarded. Funding agencies are not required to apply typical government procurement and grant laws to OT awards.