Glossary of Commonly Used Grant Terms
There are currently 9 Terms in this directory beginning with the letter G.
General purpose foundation
An independent private foundation that awards grants in many different fields of interest. See also special purpose foundation.
A grant made to further the general purpose or work of an organization, rather than for a specific purpose or project; also called an unrestricted grant or basic support.
Generally Accepted Accounting Principles (GAAP)
A technical term in accounting that encompasses the conventions, rules and procedures necessary to define accepted accounting practice at a particular time. The standard of "generally accepted accounting principles" includes not only broad guidelines of general application, but also detailed rules and procedures.
Any legal entity that receives an award and assumes responsibility for fiscal accountability for managing awarded funds, supervision of grant-supported activities, and submission of final reports.
Grantee financial report
A report detailing how grant funds were used by an organization. Many corporate grantmakers require this kind of report from grantees. A financial report generally includes a listing of all expenditures from grant funds as well as an overall organizational financial report covering revenue and expenses, assets and liabilities. Some funders may require an audited financial report.