Capstone Taxes. A question was asked if SERC taxes money going to schools. The answer is “no”. We will provide the full funding agreed in the contract document. Each university will likely have some “overhead” on their contract processing. It’s up to the institution how this is done. Faculty Advisors should be aware that the amount they have to work with is somewhat less than the contract value. It’s up to the school to decide their percentage “tax”.