§ 700.13. Additional provisions for awards to for-profit entities.
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/us/cfr/t2/s§ 700.13·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)This paragraph contains additional provisions that apply to awards to for-profit entities. These provisions supplement and make exceptions for awards to for-profit entities from other provisions of this part.
(1)Prohibition against profit. The agency or pass-through entity will not provide funds as profit to any for-profit entity receiving or administering Federal financial assistance as a recipient or subrecipient. Federal financial assistance does not include contracts as defined at 2 CFR 200.1, other contracts a Federal agency uses to buy goods or services from a contractor, or contracts to operate Federal government owned, contractor operated facilities (GOCOs). Profit is any amount in excess of allowable direct and indirect costs.
(2)\[Reserved\]
(b)\[Reserved\]
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