Free Money Through Grants: Fact or Fiction?

 by: Rebecca Game

It's posted all over the Internet. You hear it on the radio, and see it on television. The United States government is giving away free money in the form of federal grants. While it's true that the government does indeed award $400 billion annually through its 26 federal entities, the statement of free money through the government doesn't exactly pinpoint the definition of a federal grant.

A grant isn't a gift or a free-for-all giveaway. It also doesn't mean that if you've been awarded a grant, you've won the lottery. According to American Government and Politics by Jay M. Shafritz, a grant is "a form of gift that entails certain obligations on the part of the grantee and expectations on the part of the grantor." The key word in this definition of the word is obligations. Getting a government grant will get you an unbelievable amount of obligations, and not fulfilling your obligations will, in turn, grant you legal problems.

The majority of federal grants that are awarded are the farthest thing from being considered free money. Grants are most often awarded to organizations planning major projects to benefit a community. It could include money to be used for repaving streets in a city. A grant could also be awarded for a nonprofit organization featuring an art exhibit or musical performance. Grants are also awarded for technological research, conservation, and flood control projects. While there are other sources that are awarded grant funding, in general, the free money aspect is lost, and individuals, in general, are not qualified for most grants other than those used for educational purposes such as to pay tuition bills for higher education. Businesses can also tap into the federal grant program, but only by meeting strict criteria through the government agency offering the grant, such as if grant funding is available for research in a particular area that is of specialty to that business.

Once the free money is provided through the grant, the organization that has been awarded the free money must keep careful track of all project expenditures. Organizations that are awarded free money must be prepared for detailed audits, which will be conducted by the Federal government annually or more often. Any money not spent and accounted for goes back to the United States Treasury, and is not extra free money for the organization. Detailed program goals must be developed, approved, and completed by the organization exactly as specified in the grant application without exception. Any unforeseen project changes that occur along the way must receive prior approval by the government agency that awarded the grant. All project phases must be completed as planned, and even more importantly, completed successfully and on time.   (continued...)

Free Money Through Grants: Fact or Fiction?
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About The Author

Rebecca Game is the founder of Digital Women ®, an online community for women in business. A 30 year entrepreneur and dedicated to helping other women find business loans. Visit her site: Loans for Women.

http://www.digital-women.com




Additional Government Grants Resources


Health Resources and Services Administration: Teaching Health Center Graduate Medical Education (THCGME) Program
The THCGME program provides payments to cover the cost of brand-new residency and dentistry programs in various community-based and ambulatory primary health care settings, such as health centers.


National Institutes of Health funds the Improving Adherence to Treatment Regimens for HIV-Positive Adolescents and Young Adults
The National Institutes of Health has recently established a program entitled Improving Adherence to Treatment Regimens for HIV-Positive Adolescents and Young Adults wherein they intend to kick-off research studies that will create, implement, and evaluate both old and new interventions that are geared towards improving adherence to medical and behavioral regimens for HIV-positive adolescents which are 11 to 21 years old and adults who are 21 to 24 years old.


Human Health and Heredity in Africa: Research Grants Program
The Human Health and Heredity in Africa: Research Grants Program wherein they intend to invite applications from foreign institutions that are based in African countries who have the desire to conduct scientific studies regarding the genomic/genetic/environmental contributors of human health and diseases which are common in Africa.


Scale-Up of Care and Support Services for Orphans and Vulnerable Children in Nigeria
The USAID office in Nigeria has recently established a program called Scale-Up of Care and Support Services for Orphans and Vulnerable Children wherein it intends to improve the health and well-being of orphans and vulnerable children in Nigeria by way of developing a sustainable, comprehensive and coordinated program that will potentially help these kids live a normal, and healthy life.


California Housing Finance Agency
The California Housing Finance Agency, otherwise known as CalHFA, is an independent, self-supporting agency that was chartered to as the State's affordable housing bank to make low interest rate loans through the sale of tax-exempt bonds; with these bonds being repaid by revenues generated through mortgage loans, instead of taxpayer dollars.


Nursing Degree Applications Up, But Demand Still Exceeds Supply
For the fifth year in a row, applications have increased for schools offering a nursing degree according to American Association of Colleges of Nursing. Unfortunately this continuing increase still c...


Grants From The Department of Justice
The DOJ was initially established to ensure the enforcement of the law and administration of justice, which is equivalent to the justice or interior ministries of other countries all over the world.





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Edited by: Michael Saunders

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