What Are Grants?

Grants are funds (money) given by grant makers, which are often the Government, Corporations, Foundations or Trusts to a recipient more often than not, a non-profit entity, educational institution or business. For recipients to apply, generally, it require some Grant Writing of proposals.

The Grant Writing process involves an applicant submitting a proposal (or submission) to a potential lender, either on the applicant's own initiative or in response to a Request for Proposal from the lender.

Other grants can be given to individuals, such as victims of natural disasters or individuals such as people who seek to open a small business. Many Grant Makers require Grant Seekers to have some form of tax-exempt status, be a registered nonprofit organization or a local government. Most grants are made to fund a specific project and require some level of reporting.

The History Of Grants?

Originally, Grants are created as financial assistance programs for organizations hence they weren't always available to individuals. However, over the years, things have changed. Nowadays grants can be availed by both organizations and individuals.

In the beginning, most grants were federally funded. Now, grants are funded by states, counties, and cities as well. In addition, grants can now be funded by corporations and non-profits. To date, hundreds of companies such as Kelloggs and General Electric, are regular sponsors of grant-making programs. This is usually done through their corporate foundations.

Before, there were fewer grant programs available. Now, its estimated that there are over 15,000 different grant programs available.

Facts About Grants:

$360 billion dollars in grant money is available every year.

Many business grants designed for women go unclaimed.

Fewer than 15% of all U.S. women consider applying for grants.

More grants than ever before are now available only to women.