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A unique benefit provided to selected incubator programs is a revenue sharing agreement between the Provost and colleges/departments intended to:
Prospective new and revitalized programs can be considered for revenue sharing after initial revenue and expense projections are developed.
After the seed loan is recouped by the Provost’s Incubator Fund, the program’s operating surplus (revenue minus operating expenses) will be shared as follows:
The department/college allocation for interdisciplinary programs will be divided among participating departments based on the proportion of credits taught by each department. The revenue-sharing agreement begins with a baseline indirect cost rate of 35 percent for all programs. Programs applying for incubator support may request a reconsideration of this baseline rate if a well-reasoned and well-supported rationale is provided, given that programs may span a variety of different delivery models and use of campus resources. Programs that are resource-heavy (e.g., require intensive facilities use) may be responsible for a higher indirect rate.
The revenue sharing agreement must specify the anticipated allocation of funds (i.e., 50 percent return) between the department and/or the college that houses that department (and, if divided between them, in what proportion), with the dean responsible for reporting the intended use of the funds.
The revenue sharing agreement will be reassessed, and potentially adjusted, every three years, or when prompted by significant shifts in program or the university budgeting.