What Are The 4 Types Of Grants?
Most people don’t know that there are 4 types of grants:
Competitive Grants –
When an agency or entity has a certain amount of money to distribute to 1 or more applicants theres usually a competitive grant process. What this means is that the agency or entity that’s distributing the grant will review all applicants information and will decide which will receive the grant. In a competitive grant applicants are competing against 1 another. So therefore the award will go to the agencies, individuals, corporations etc that they choose.
Formula Grants –
Allocations of federal funding to states, territories, or local units of government determined by distribution formulas in the authorizing legislation and regulations. To receive a formula grant, the entity must meet all the eligibility criteria for the program, which are pre-determined and not open to discretionary funding decisions.Formula grants typically fund activities of a continuing nature and may not be confined to a specific project. Common elements in formulas include population, proportion of population below the poverty line, and other demographic information.
Continuation Grants –
An extension or renewal of existing program funding for one or more additional budget period(s) that would otherwise expire. Continuation grants are typically available to existing recipients of discretionary, multi-year projects; however, new applicants may be considered.Receipt of a continuation grant is usually based on availability of funds, project performance, and compliance with progress and financial reporting requirements. Applications for continuation may compete with other continuation requests submitted to the awarding agency.
Pass-Through Grants –
Funds issued by a federal agency to a state agency or institution that are then transferred to other state agencies, units of local government, or other eligible groups per the award eligibility terms. The state agency or institution is referred to as the “prime recipient” of the pass-through funds. The secondary recipients are referred to as “subrecipients.” The prime recipient issues the subawards as competitive or noncompetitive as dictated by the prime award terms and authorizing legislation.
Welcome to the Government Deals grants section. We’ve divided it into 2 different areas, government grants and corporate grants.
The government has over 1000 grants. These grants are handled through many different agencies. These grants can cover things like health, education, science, business and more. We at Government Deals always felt that it would be better for everyone to have these grants information in one place, so we designed our government grants section.
Did you know that many of Americas Fortune 500 companies and other companies have grants that they offer to the public. Well Government Deals decided to include the private grants section.
We need you to know that not all grants are for individuals. Some grants are only for organizations, and municipalities. If you find them don’t be bothered. Use the information to help others. Some people and companies make money preparing grant packages for others.
The main thing about filing for a grant is making certain that you follow the instructions carefully. You must be a person that is very detail oriented. If you miss deadlines or don’t provide the correct documents you can just kiss that grant goodbye in most cases.
With the information we provide to our members you’ll get all the details, rules and deadlines directly from the source.
Come and JOIN GOVERNMENT DEALS and we can achieve goals together.
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