What Are Grants?
Posted by: Grants Expert In General Grant Information
A grant is the opposite of a loan in that it is more like a gift and doesn’t have to be returned to the giver. Grants are also tax free and can be in the form of goods, services, and most commonly, money.
Grants are generally handed out by Federal and State governments as well as innumerable private organizations . Grant money can amount to a total of nearly hundreds of billions of dollars a year and plays a role in stimulating the economy.
WHY ARE THERE GRANTS?
Grants are available because they make a number of projects crucial to community development possible.
1. generating more jobs
2. starting and maintaining businesses
3. more students are enrolling in colleges
4. most importantly, dreams and aspirations are fulfilled.
3 MAIN CATEGORIES OF GRANTS
**Grants vary in amounts and can range from a few hundred dollars to hundreds of thousands of dollars depending on the project proposal, the applicant, and the grant provider.
+ Foundation Grants
+ Corporate Grants
+ Government Grants
Several grants are given by foundations which have been started by wealthy individuals or families. These foundations are set up with the purpose of championing certain causes like scientific research or preserving wildlife, etc.
Corporations have their own foundations or community service departments. The grants are generally part of the company profits which they use to give back to the community. Corporations hand out grants mainly for good public relations. Thus a good way of getting a corporate grant is to assure them that they will also benefit if they award you the grant money.
Government grants are offered either through the federal or the state, county and even city governments.
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