Did you know that there are many different types of grants available? In fact, there are six different types of grants, so it’s important to understand the different ways in which each grant type can help your nonprofit to succeed. Having these distinctions clearly in mind will make the process much easier when you begin the task of targeting specific grants to suit your needs.
The GrantWatch.com database brings you the convenience of finding all the grant types in one place. During your grant search, you’ll come across the terms below, so learn to identify these different grant types to help you determine which ones are most beneficial to your interests.
1. Program Development Support
The most popular type of grant is for Program support. Program grants provide funding for specific projects or programs. Generally, these are restricted grants, where recipients must only use funds for the exact purpose outlined in the grant proposal. Most program grants are for nonprofits, but you may also find some for businesses and individuals to start a program or fund an already-existing program.
2. General Operating Support
General Operating Support grants can help to offset almost any operating expense for your organization. In addition, operating support grants are less restrictive than program support grants. But, as expected, operating support grants are a rarity in the nonprofit world. They are certainly not as common as we would all like them to be!
3. Capital Funding Support
Another type of grant is Capital Funding support. These grants are most commonly for capital projects such as building construction, property acquisition, or similar expansion campaigns. However, only established organizations are usually encouraged to apply for capital funding. Also, the proposal needs to convey the intention that the use of this support involves a plan to accomplish more than just build or renovate a building.
4. Research Grants
Research grants are frequently awarded to individuals or teams associated with institutes of higher education and research-oriented organizations. These grants promote the necessary demand for research essential to academic achievement and scientific discoveries in a variety of areas. However, applying for research grants is quite a competitive process.
5. In-kind Donation Grants
Sometimes, organizations are in need of resources other than monetary funding. Subsequently, In-kind Support grants provide alternative assistance in non-monetary forms, such as donations of equipment and supplies, or free consulting. While many may often overlook in-kind donation grants, do not underestimate their value.
6. Matching Grants
Finally, there are Matching grants, also known as ‘cost matching’. With this type of grant, a funding source agrees to ‘match’ a specific dollar amount of funds, but only if the applicant raises at least that same amount. For example, a funder may agree to fund one dollar for every dollar raised by the applicant within a set timeframe. Don’t be afraid of these grants, as they can be highly beneficial.
Finding the Type of Grant that Best Suits Your Needs
In conclusion, you will achieve the best results during your grant-seeking journey if you understand how different types of grants can assist in funding your interests. A clear grasp of these terms can be key in determining the best grant type for your needs.
With close to8,000 grantscurrently available,GrantWatch.comis the leading grant listing directory. Upgrade to aMemberPlus+ subscriptionto view the full grant details, including eligibility criteria and application information. For more information, you can also visit theGrantWatch FAQpage. To see the great value of all 20 of the top GrantWatch features,click here.
Related
FAQs
The 7 Types of Grants
- Competitive Grants. Also called discretionary funding, competitive grants require organizations to compete with other organizations for the same funds. ...
- Formula Grants. ...
- Pass-Through Grants. ...
- Continuation Grants. ...
- Block Grants. ...
- Research Grants. ...
- Private Grants. ...
- Research Eligibility and Requirements Carefully.
The R-series includes the most common research grant programs such as NIH's main independent research project grants (R01), small grants (R03), research enhancement awards (REA, R15), exploratory and developmental research projects (R21), clinical trial planning grants (R34), high priority short-term projects (R56), ...
How many general types of federal grants exist? ›
The three general types of federal grants to state and local governments are categorical grants, block grants, and general revenue sharing (see Table 1).
How many grants are there in the United States? ›
There are over 900 grant programs offered by the 26 federal grant-making agencies. These programs fall into 20 categories: Agriculture.
What is grants quizlet? ›
a program through which the national govt gives the money to state and local govt to spend in accordance with set standards and conditions.
What is a Type 7 NIH grant? ›
7=Change of Grantee or Training Institution Transfer of the legal and administrative responsibility for a grant- supported project or activity from one legal entity to another before the completion date of the approved project period (competitive segment).
How many grants does NIH give? ›
Every state and almost every congressional district received a share of NIH investment. Each year, NIH awards over 60,000 grants that directly support more than 300,000 researchers at more than 2,500 different institutions.
What is the difference between K grant and R grant? ›
The activity codes differentiate between the grant types; for instance, R-series denotes the research project grant; K-series is intended for researchers yearning independent career. Both R- and K-grants support independent investigators.
Does the government give out $9000 dollar grants? ›
The government does not offer free money or grants to people for personal needs.
What is the largest federal grant? ›
Medicaid was the largest funded program for Fiscal Year (FY) 2023, for FY 2023 Medicaid was awarded $607.10B, For FY 2022, Medicaid was awarded $592.14B. For FY 2021, Medicaid was awarded $513.66B. For FY 2020, Medicaid was awarded $460.03B. For FY 2019, Medicaid was awarded $393.56B.
All program grant funds are available until expended. If there are any unexpended funds after your grant is completed, we deobligate the funds when we close your grant. We make these unused funds available for re-award to the same certified State or Indian tribe to which they were originally distributed.
How many types of grant are there? ›
There are generally three types of grants: government, philanthropy and local / place-based. Government grants fall into two broad categories: business support grants and public good grants.
What is the most popular type of grant today? ›
Program/project grants
This is the most common type of grant. Program/project grants specify that funding may only be used to support the program or project referenced in your proposal.
What are the different types of government grants? ›
A variety of federal grants are available, including:
- Pell Grants,
- Federal Supplemental Educational Opportunity Grants (FSEOG),
- Teacher Education Assistance for College and Higher Education (TEACH) Grants, and.
- Iraq and Afghanistan Service Grants.
Categorical grants are the most common types of grants given by the federal government to state and local governments, but they are not the only type.
What are the two main sources of grants? ›
The two primary sources of grant money are public and private funds. Public funds are obtained from governmental units, such as federal, state, and local agencies.
What are the four types of government funding? ›
Governmental funds are classified into five fund types: general, special revenue, capital projects, debt service, and permanent funds.
What are the most common formula grants? ›
One of the most common examples of formula grants is the Federal Aid Highway Program, which provides funding for the construction and maintenance of highways, bridges, and other transportation infrastructure.
