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Generally, grants can be classified into two categories:
- Organizational grants
- Individual grants
Organizational grants are those applied on behalf of a company, a school, a group, state or local government, or other types of organization.
Types of organizational grants:
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General Purpose Grants – This type of grant usually supports an organization’s overall mission. This type normally covers all the expenses for the organization’s general operations that can include: salaries, utilities, rent and other administrative expenses.
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Project Grants – This type of grant supports ONLY the connected set of activities for an organization’s particular project. Unlike general purpose grants, project grants are very restrictive. This can only be spent on a specific project discussed in the grant seeker’s application.
Most common type of project grant is the seed money or start-up grant. This is normally given to jumpstart an organization’s particular program on its first few years of operation. However, the amount given by the grant making agency usually decreases each year. Other common types of project grants include management or technical assistance, planning, facilities and equipment, and endowment.
Individual grants are grants applied by an individual usually for the purpose of financial aid for education, arts and research. Individual grants for education are given especially to those who excel in their fields of study but do not have the financial resources to further their studies. Most foundations do not normally award individual grants although some do for other purposes.
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