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bricks and mortar grant - a grant program for building construction or renovation.
budget period - periods of time (usually 12 months) into which a project is divided for budget and reporting purposes; for multi-year projects, a continuation proposal is usually required each year the project continues.
cash match - cash contributions made to a project by the grantee or another party, usually at the requirement of the grantor.
challenge grant - also known as a matching grant, this grant is paid only if the grantee is able to raise additional funds from other sources. Challenge grants are often used to stimulate giving from other donors.
cooperative grant or consortium - the joining together of one or more organizations to participate in one funded project.
cost-sharing - a requirement that a portion of the project costs be assumed by the grantee; also known as matching.
direct costs - total costs directly attributable to carrying out a grant project, including salaries, fringe benefits, travel, equipment, supplies, services, etc.
endowment - funds intended to be invested in perpetuity to provide continued support of non-profit organization.
evaluation - an assessment of the project's success in meeting its intended outcomes; usually includes a formative evaluation and summative evaluation (see formative and summative evaluation).
fiscal year - a twelve month period for which an organization plans the use of its funds; for the federal government, the fiscal year runs from October 1 through September 30.
formative evaluation - evaluation of an ongoing project for the purpose of providing immediate feedback to the grantee about the status of project activities.
fringe benefits - amount paid by the employer for employee benefits such as retirement, health insurance, unemployment insurance, etc. Total personnel costs are determined by adding fringe benefits to salary.
grant - financial assistance in the form of money, property or technical assistance awarded by a government agency or private organization to an eligible applicant.
grantmaker or grantor - (also known as funder or funding agency) any legal entity, public or private, that awards grants to other organizations or individuals. Grantmakers include local, state, or federal government agencies, private foundations, private or public non-profit organizations, and corporations.
grant period - the period of time specified in the grant award notice during which costs may be charged against the grant.
indirect costs - also known as F&A costs or overhead; costs incurred in the overall functioning of the institution; costs not readily identified as direct project expenditures.
in-kind contribution - dollar value of non-cash contributions to a project by the college or another party other than the funder which directly benefit a grant (examples: volunteer services, equipment use, facilities, staff time already allocated in the budget).
letter of inquiry or letter of intent - a brief letter outlining an organization's activities and its request for funding that is sent to a prospective funder in order to determine whether it would be appropriate to submit a full proposal.
primary investigator (P.I.) or project/program director - usually the original grantwriter, the individual is responsible for the administration of a project including its management, submission of all required documents, communicating with the funding agency and other appropriate agencies, and carrying out project activities.
program announcement or solicitation - press release, booklet, catalog, form or advertising a grant opportunity.
proposal - formal written document that provides detailed information to a funder on the components and cost of a proposed project in response to some substantiated need or problem. The proposal is more a plan for change than a request for funds.
request for proposal (RFP) - a solicitation sent out by the government to organizations that might be qualified to participate in a new contract or grant program. The RFP lists project specifications and application procedures.
seed-money grant - provides support to initiate research activities or other innovative scholarship which has the potential of generating future funding after the seed grant period.
solicited proposal - a proposal that has been invited by a sponsoring agency.
stewardship - the process of acknowledging, managing, and reporting on a grant after it is awarded.
summative evaluation - reporting or measurement of final program results.
target audience/group - a specified group or category of persons which the project will serve or impact.
time-line - a management tool detailing the schedule of project tasks to be accomplished, by whom, and over what period of time.
unsolicited proposal - proposals submitted by the applicant without formal invitation from the grantor agency.
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