What is a Loan?
Loans received or outstanding are reportable if they total
$500 or more from a single lender. Your community
property interest in loans received by your spouse or
registered domestic partner also must be reported. Loans
from commercial lending institutions made in the lender’s
regular course of business on terms available to members
of the public without regard to your official status are not
reportable. (See Gov. Code Section 82030(a).)
What is a Gift?
A gift is anything of value for which you have not provided
equal or greater consideration to the donor. A gift is
reportable if its fair market value is $50 or more. In
addition, multiple gifts totaling $50 or more received from a
reportable source must be reported.
It is the acceptance of a gift, not the ultimate use to which
it is put, that imposes your reporting obligation. Therefore
you must report a gift even if you never used it or if you
gave it away to another person.
If the exact amount of a gift is not known, you must make a
good faith estimate of the item’s fair market value. Listing
the value of a gift as “over $50” or “value unknown” is not
adequate disclosure.
Commonly reportable gifts include:
• Tickets/passes to sporting or entertainment events
• Tickets/passes to amusement parks
• Parking passes
• Food, beverages, and accommodations, including those
provided in direct connection with your attendance at a
convention, conference, meeting, social event, meal, or
like gathering
• Rebates/discounts not made in the regular course of
business to members of the public without regard to official
status
• Wedding gifts
• An honorarium received prior to filing an “initial” statement.
You may report an honorarium as income rather than as a
gift if you provided services of equal or greater value than
the payment received.
• Transportation and lodging
• Forgiveness of a loan received by you
(See Gov. Code Section 82028.)
FPPC Form 700-U (2017/2018)
FPPC Advice Email: advice@fppc.ca.gov
FPPC Toll-Free Helpline: 866/275-3772 www.fppc.ca.gov
Who Files Form 700-U?
This form must be filed by all persons employed by UC
or CSU who have principal responsibility for a research
project if the project is to be funded or supported, in whole
or in part, by a contract or grant (or other funds earmarked
by the donor for a specific research project or for a specific
researcher) from a nongovernmental entity.
Reporting requirements are outlined in Regulation 18755.
This regulation provides that research funding by certain
nonprofit entities will not trigger disclosure. This regulation
is available on the FPPC website.
What is the Reporting Period?
For "initial" statements, before the final acceptance of the
contract, grant, or gift, the filer must report investments in
and business positions with the sponsor as of the date that
the award is made, and income and gifts received from
the sponsor within the 12 months prior to the date that the
award is made.
For "interim" statements, the filer must submit a statement
within 30 days after the contract, grant, or gift is renewed
that discloses reportable investments, income and
business positions that the filer held or received during the
period between the date the initial statement was filed and
the date the project contract, grant, or gift was renewed.
What is an Investment?
“Investment” means any financial interest in a business
entity in which you, your spouse or registered domestic
partner, or your dependent children have a direct, indirect,
or beneficial interest totaling $2,000 or more. Reportable
investments include stocks, bonds, warrants, and options,
including those held in margin or brokerage accounts.
(See Gov. Code Section 82034 and Regulation 18237.)
What is Income?
“Income” means a payment received, including but not
limited to any salary, wage, advance, dividend, interest,
rent, proceeds from any sale, gift, including any gift of food
or beverage, loan forgiveness or payment of indebtedness
received by the filer, reimbursement for expenses, per
diem, or contribution to an insurance or pension program
paid by any person other than an employer, and any
community property interest in income of a spouse or
registered domestic partner. Income also includes an
outstanding loan. Income of an individual also includes
a pro rata share of any income of any business entity or
trust in which the individual, spouse, or registered domestic
partner owns directly, indirectly, or beneficially, a 10%
interest or greater. Income includes your gross income
and your community property interest in your spouse’s or
registered domestic partner’s gross income totaling $500
or more. Gross income is the total amount of income
before deducting expenses, losses, or taxes. (See Gov.
Code Section 82030.)
Instructions for Completing
Form 700-U
700-U
CALIFORNIA
FORM