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A grant is a financial award given by a government entity, foundation, corporation, or other organization to an individual or organization for a specific purpose. Unlike loans , grants do not need to be repaid, [ 1 ] making them an attractive source of funding for various activities, such as research, education, public service projects, and ...
A federal grant is an award of financial assistance from a federal agency to a recipient to carry out a public purpose of support or stimulation authorized by a law of the United States. Grants are federal assistance to individuals, benefits or entitlements. A grant is not used to acquire property or services for the federal government's direct ...
Funding is the act of providing resources to finance a need, program, or project. While this is usually in the form of money, it can also take the form of effort or time from an organization or company.
In the United States, federal assistance, also known as federal aid, federal benefits, or federal funds, is defined as any federal program, project, service, or activity provided by the federal government that directly assists domestic governments, organizations, or individuals in the areas of education, health, public safety, public welfare, and public works, among others.
The United States federal government gives financial assistance to states, local governments, and other entities. They are defined and governed by the Federal Grant and Cooperative Agreement Act of 1977, as incorporated in Title 31 Section 6304 of the U.S. Code. A Federal grant is a:
Grant eligibility is typically determined by financial need. The application process is set by the agency providing the funds and often relies on data submitted via the FAFSA. While the terms grant and scholarship are frequently used interchangeably, there is a difference. Scholarships may have a financial need component but rely on other ...
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Fundraising or fund-raising is the process of seeking and gathering voluntary financial contributions by engaging individuals, businesses, charitable foundations, or governmental agencies. Although fundraising typically refers to efforts to gather money for non-profit organizations , it is sometimes used to refer to the identification and ...