Grant (money)
Grants are non-repayable funds disbursed by one party (grant makers), often a government department, corporation, foundation or trust, to a recipient, often (but not always) a nonprofit entity, educational institution, business or an individual. In order to receive a grant, some form of "Grant Writing" often referred to as either a proposal or an application is usually required.
Most grants are made to fund a specific project and require some level of compliance and reporting. The grant writing process involves an applicant submitting a proposal (or submission) to a potential funder, either on the applicant's own initiative or in response to a Request for Proposal from the funder. Other grants can be given to individuals, such as victims of natural disasters or individuals who seek to open a small business. Sometimes grant makers require grant seekers to have some form of tax-exempt status, be a registered nonprofit organization or a local government.
For example, tiered funding for a freeway are very large grants negotiated at government policy level. However smaller grants may be provided by a government agency (e.g. municipal government).
Project-related funding involving governments, business, communities, and individuals is often arranged by application either in writing or online.
Read more about Grant (money): United States, Europe
Famous quotes containing the word grant:
“The rebel, unlike the revolutionary, does not attempt to undermine the social order as a whole. The rebel attacks the tyrant; the revolutionary attacks tyranny. I grant that there are rebels who regard all governments as tyrannical; nonetheless, it is abuses that they condemn, not power itself. Revolutionaries, on the other hand, are convinced that the evil does not lie in the excesses of the constituted order but in order itself. The difference, it seems to me, is considerable.”
—Octavio Paz (b. 1914)