Glossary

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.

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.

Person, school, district, etc. who is applying for the grant.

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.

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.

Agency, organization, etc. who is providing the grant

The art of obtaining grants.

Procedures set forth by a funder that grantseekers should follow when approaching a grantmaker.