Broad Institute F&A Rate Agreement

The Broad Institute is a non-profit research organization that is known for its groundbreaking work in genomics, computational biology, and other fields of biomedical research. In order to continue its work, the Institute relies on funding from various sources, including federal government agencies, private foundations, and corporate partners. One of the key components of this funding is the indirect cost rate, also known as the facilities and administrative (F&A) rate.

The Broad Institute recently announced that it has reached a new F&A rate agreement with the federal government. The agreement, which covers the period from 2021 to 2025, sets the F&A rate at 57.5% for all federal grants and contracts awarded to the Institute during this period. This is a significant increase over the previous F&A rate of 55%, and it reflects the Institute`s growing importance in the field of biomedical research.

For those unfamiliar with the concept, the F&A rate is a percentage of the direct costs of a grant or contract that is allowed to be charged to cover the indirect costs associated with conducting research. These indirect costs can include things like building maintenance, utilities, equipment depreciation, and administrative salaries. The F&A rate is negotiated between the funding agency and the grantee institution, and it is typically based on a detailed analysis of the institution`s actual indirect costs.

The new F&A rate agreement is a testament to the Broad Institute`s impressive track record of innovation and impact in biomedical research. It reflects the Institute`s commitment to excellence and its ability to attract high-quality researchers and collaborators from around the world. The increased F&A rate will help the Institute to continue its work at the forefront of genomics and other cutting-edge fields, while also ensuring that it has the necessary resources to support its staff and facilities.

Overall, the Broad Institute`s new F&A rate agreement is good news for both the Institute and the broader field of biomedical research. It is a reminder of the importance of indirect costs in supporting high-quality research, and it underscores the critical role that non-profit organizations like the Broad Institute play in advancing our understanding of human health and disease. As we look to the future, we can be confident that the Broad Institute will continue to make important contributions to the world of biomedical research, thanks in part to this new F&A rate agreement.