Grants are made available to benefit those in need, or projects to better society, for schooling, sports, the elderly, charities, and a multitude of other causes. There are a variety of grant opportunities available.
Grant Opportunities for Those in Need
Every country makes grants available for individuals without income, unemployed, or disabled, and the elderly with an old-age pension. Life happens, sometimes for the worse. This is when a grant can be of help. Many types of grants are written for individuals that fall on hard times without an easy way out.
Grants are also made available for certain projects, for worthy courses, for charities, and uplifting society. Housing projects, research programs, supporting groups, sports, schools, libraries, and almost anything that needs funds to maintain their premises and services, can qualify for available grants.
Sources of Grant Money
The Government of a country, corporations, and non-profit foundations are the 3 biggest sources for funding grants. Each one of these sources will have its own perspectives and types of grants they make available. Organisations can also benefit from all 3 of these sources, because of their diversity in the grants they write.
Government grants will generally be defined for public purposes. These grants will concentrate on social services that will benefit society, for instance, projects at learning institutions, funds for new community projects, and also for local charities. They do write grants for supporting and growing local businesses, too.
Corporations might have a greater variety of grants. Grants can originate from the company’s commitment to social responsibilities. Corporations can direct grant money towards assisting industries that can also advance their corporate goals.
Researchers in their target fields, and community groups that work in those fields, can benefit from these grants.
Non-profit foundations are required to use a specific part of their assets on grantmaking. These private foundations provide a considerable amount of funding to their particular interest groups. Most foundations have a set purpose and will not consider grants outside of that defined purpose.
For instance, local community foundations will only provide grants within their city and surrounding county. Local charities, sports organisations, local schools, and local projects can benefit from these grants.
Most Common Types of Grants
Capital grants are aimed at renovations of existing spaces, construction of new facilities, and purchasing equipment. A grant might cover only one part of a big campaign.
General grants can be used in any way that is needed. There are no restrictions on what this grant money is spent on. It can be used as administrative costs, like salaries, buying equipment, paying the rent, or covering overhead costs.
Project and program grants are the type of grant that is most commonly awarded. These funds can only be used for the purpose the grant was awarded for. Grantmakers prefer these types of grants because they are easy to evaluate and see the impact of the given grant.