How To Use Grant Money

Grants are available from federal, state, county and local government agencies, colleges and universities, foundations, and private individuals. Grant money can be used for starting or expanding a business, preserving a historical structure, funding educational needs, or providing economic support to those in need.

The grantor typically provides forms and processes to enable candidates to apply for and properly use grant money. The grantor also provides guidelines for how to spend the grant funds.  Acceptance of a grant obligates the user to comply closely with guidelines given for proper use of the funds.

Examples of federal grantors include The National Endowment for the Humanities (NEH), The Institute of Museum and Library Science (IMLS), and the National Science Foundation (NSF).  They provide grants supporting artistic endeavors, preservation of library and museum collections, and scientific and medical research.  Federal agencies require application through grants.gov, an online portal.  Many of these grants are available only to non-profit agencies, with very specific guidelines for each grant.

Business grants are provided by government agencies, foundations, and corporations for starting, improving, or expanding businesses.   The US Small Business Administration provides information at sba.gov. Educational grants or scholarships are provided by government entities, colleges, universities, and private groups.  Athletic scholarships are one example.  Merit scholarships are provided to talented math and science students.  Corporations may give scholarships to children of employees.  For government aid, a good site to review is students.gov. Scholarship funds are to be used for tuition, books, and living expenses while attending college.

Public and private foundations also provide a variety of grants.  Foundations support art, education, or social outreach to children or the elderly. Grants can be based on ethnic heritage, medical problems, and financial need.  An excellent resource for finding grants is foundationcenter.org, which partners with libraries to provide information.  Guidelines for proper use of grant money must be carefully observed, and competition for receiving funding may be intense.  Examples of large foundations are The Bill & Melinda Gates Foundation and The Getty Foundation.

If you have special needs or are seeking funds for a worthy cause, grant funding can help you reach those goals.  Proper use of funds will be based upon compliance with the grant guidelines.  Accepting a grant usually requires a signed acknowledgement that you will use the funds in the manner outlined in your proposal, in accordance with the guidelines for your particular award.