Definitions for "Program Income"
Keywords:  grantee, award, gross, ubit, subawards
Gross income or revenue generated by a project. This may include sale of real estate or equipment, rental income, fees, interest on loans, proceeds from the sale of loans, interest earned, and funds collected through special assessments. Program income may be subject to all of the conditions of the original grant award. There may be some program income subject to taxes as unrelated business income (UBIT). See http://www.irs.gov/charities/article/0,,id=96104,00.html
Money that is earned or received by a grantee or a subrecipient from the activities supported by grant funds or from products resulting from grant activities. It includes, but is not limited to, income from fees for services performed and from the sale of items fabricated under a grant; usage or rental fees for equipment or property acquired under a grant; admission fees; broadcast or distribution rights; and royalties on patents and copyrights.
See Grant and Contract Accounting glossary definition of Program Income