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Origination Date 6/15/03 When an employer, other than the recipient, donates the seNices of an employee, these seNices shall be valued at the employee's regular rate of pay exclusive of the employee's fringe benefits and overhead cost, provided these services utilize the same skill for which the employee is normally paid. For Example: If you have a law firm donate a lawyer's time to your organization for legal seNices, you may record the lawyers regular rate of pay as an in-kind contribution. However, if you have a lawyer volunteer time to stuff envelopes or perform janitorial seNices, you would only be able to record an amount equal to the amount it would normally cost your organization to get secretarial or janitorial seNices. This section also requires that supporting records for volunteer seNices be documented and, to the extent feasible, supported by the same methods used by the recipient for its own employees. An example of this would be keeping time sheets. The basis for determining the valuation for personal seNice, material, equipment, buildings and land must also be documented in writing. For further discussion of how to value donated buildings, land, space, supplies, or equipment see 1_.24 (d)-(g). Common Rule Subpart C 1_.25 Program Income Program Income as defined in 1_.25(b) is gross income received by the grantee or subgrantee directly generated by a grant supported activity, or earned only as a result of the grant agreement during the grant period. Program income includes, but is not limited to, income from fees for seNices performed, the use or rental of real or personal prop~rty acquired under federally funded projects, the sale of commodities or items fabricated under this contract, license fees and royalties on patents and copyrights, and interest on loans made with award funds. Interest earned on advances of Federal funds is not program income. Except as otherwise provided in Federal awarding agency regulations or the terms and conditions of the award, program income does not include the receipt of principal on loans, rebates, credits, discounts, etc., or interest earned on any of them. Subpart C 1_.25(g) states that program income earned during the project period shall be retained by the recipient and, in accordance with Federal awarding agency regulations or the terms and conditions of the award, shall be used in one or more of the ways listed below: . Deducted from the total project or program allowable cost in determining the net allowable costs on which the Federal share of costs is based. . Added to funds committed to the project by the Federal awarding agency and recipient and used to further eligible project or program objectives. . Used to finance the non-Federal share of the project or program. . 8