Category - Grants

Grant Term

501(c)(3)

The US Internal Revenue Service (IRS) tax code defines tax-exempt organizations, and IRS code 501(c)(3) defines the rules that charitable tax-exempt organizations must follow. See for lots of gory details! Many grants...

Grant Term

Application

A formal request – an application – guides you to provide the specific information needed to determine if you qualify for and are the most competitive applicant to receive funding. Applications are used for virtually...

Grant Term

Applied Research

Some grants are given to conduct applied research in order to solve real world problems with new technology: treat diseases, reduce energy consumption, increase industrial efficiency, and so on. Applied research is...

Grant Term

Award

In grant-speak, the award is the financial assistance you receive, not a trophy or a medal! It may be a no-strings-attached grant or it may be a contract. It can also be used as a verb, as in “we awarded a grant to ABC...

Grant Term

Basic Research

While most businesses don’t receive grants for basic research – they tend to go to universities or specialized research organizations – this is pure pursuit of knowledge for its own sake rather than to solve a problem.

Grant Term

Brick and Mortar

A grant targeted to fund buildings – either new construction or renovation – would be a brick and mortar project. For example the US EDA (Economic Development Administration) funds a lot of brick and mortar...

Financial Term

Budget

(Financial) The budget is a financial statement that estimates and details the planned income and expenses for a particular period of time. In some contexts the budget is just the expense line items without any...

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