Grant
A legal instrument (award) of financial assistance between a sponsor and a recipient. The purpose is to transfer something of value to carry out a public purpose and not to acquire property or services. It is not cash, subsidy or a loan. There is no substantial involvement from the sponsor in implementation of the award.
Grant Characteristics:
- Intent is to support the sponsor鈥檚 mission, advance knowledge and/or provide public good
- Typically requires programmatic reports
- Includes terms & conditions for use of the funds such as budgetary restrictions
- Will state programmatic objectives
- Awardees work towards achieving broad programmatic objectives
- There is usually some flexibility to adapt project or adjust scope, budget etc. (though may require sponsor approval)
When choosing a Project Type on an in SAGE the following are also considered 鈥済rants鈥�:
- WA State Agency Interagency agreements (unless originating funding is a federal contract)
- IPA, JPA, Staff Assignments