Abstract
A short summary of a project or program including all pertinent aspects of the sponsored activity, a summary of the objectives and expected results. The abstract is usually less than 350 words and limited to one double spaced typed page.

Allocation
Money designated according to a formula.

Allowable Cost
A cost that the funding agency will reimburse under the terms of the grant or contract being awarded.

Budget
The financial plan for your grant, itemized to show breakdown of both income and expenses.

Budget Justification
The financial plan of operation that explains how each cost is to be charged against the grant is calculated and why the cost is necessary to the project. May sometimes require that a certain percentage of the total cost be provided by the grantee.

CFDA
Catalog of Federal Domestic Assistance. The federal coding structure used to identify available federal grant and loan programs. It is used by auditors and therefore must be accurate.

Challenge Grant
A grant that must be matched with money raised by the recipient.

Competitive Grant
A process of proposal selection based on the evaluation of a reviewer or team of reviewers. Proposals are given scores based on how well they meet stated guidelines, and are competitively ranked. Those with the highest scores are generally funded.

Continuation Grant
Grant available for the continuation of a program already underway.

Cooperative Venture
A joint effort between or among two or more grantmakers. Cooperative venture partners may share funding responsibilities or contribute information and technical resources.

Cover Sheet
The top sheet of a grant proposal that is usually a standardized form. Generally, this form requires the original signature of the grantee's Authorized Representative for the proposal to be submitted.

Direct Costs
Expenses that are associated with the operation of a project and that are itemized by categories specified as allowable under the grant or contract; e.g., salaries, fringe benefits, travel, supplies.

Drawdown
A drawdown is the method by which a successful grantee requests payment from the funding agency. Frequency of drawdowns, also known as draws, range from weekly electronic wire-transfers to a single lump sum payment at the end of the project. Quarterly drawdowns are very common.

Due Date
The date (and time) when a proposal must be received by the funding source.

Federal Funds
Money appropriated by the U.S. Congress.

Fiscal Year (FY)
A 12-month accounting period at the end of which the books are closed for an agency or governmental unit. Agency-wide financial audits are conducted after the end of the fiscal year. Educational instutuions generally run on a July 1 - June 30 basis, while the Federal government runs from October 1 - September 30. A "budget" period generally corresponds to the funding agency's fiscal year.

501(c)(3)
The section of the tax code that defines nonprofit, charitable (as broadly defined), tax-exempt organizations; 501(c)(3) organizations are further defined as public charities, private operating foundations, and private non-operating foundations.

Grant Agreement
A contract entered into by a grantee and a grantor. Typically based on the application submitted by the grantee, the Grant Agreement commits the grantee to carry out certain activities, within a stipulated time frame, for a specific amount of money. The Grant Agreement often refers to, or incorporates, regulations that govern the use of grant funds. It is important to note that the Grant Agreement may include more restrictive conditions than were proposed by the grantee or are required by law. The Grant Agreement may also be for less money than originally sought.

Grantee Financial Report
A report detailing how grant funds were used by an organization. Many corporate grantmakers require this kind of report from grantees. A financial report generally includes a listing of all expenditures from grant funds as well as an overall organizational financial report covering revenue and expenses, assets and liabilities.

Indirect Costs
Costs of an institution that are not readily identifiable to a specific project or activity. The costs of maintaining buildings, grounds and equipment, accounting services, and general administrative expenses are considered to be types of indirect costs. Such costs may or may not be allowed in a given grant situation. Indirect costs are generally calculated as a percentage of the total direct cost of the project minus any capital or equipment expenses.

In-Kind
A non-cash donation of labor, facilities, or equipment to carry out a project. Typically, skilled and profesisonal labor can be valued at the prevailing rate for the field. Work performed by a professional or skilled laborer outside of their field, however is generally computed at some standard or minimum wage.

Letter of Support
A simple letter attached as an addendum to your proposal. This letter should be from an "expert" or supporter of your project who tells why he/she believes that your project should be funded.

Matching Funds
Many funding sources will pay only a percentage of the cost of a project. The grantee is required to pay the difference with money or non-cash donations from other sources. The non-grant funds are known as Matching Funds or the Match.

Matching Grant
A grant that is made to match funds provided by another donor.

Narrative
The written portion of your grant. The story of who, what, where, when, why and how. Every grant has at least two parts: a narrative and a budget. Often the grant guidelines will specify that your narrative may not exceed a certain page length. Always adhere to these instructions.

Non-Competitive Grant
Federal or state dollars allocated on the basis of a formula. Receipt of funds may or may not require submission of a proposal. These grants are often referred to as formula-driven grant funds.

Objective
Specific, measurable aims for a project, with matching outcomes to measure them.

Outcomes
Expected results of the project which can be used to measure its success.

Pass Through Funds
Funds that are received by a state or local agency for a specific purpose who then conducts its own grant process to award the funds to other individuals, organizations or agencies.

Pre-Application
A condensed version of an application. A pre-application is submitted before a full application is prepared. It is often used by the Grantors to determine which applicants will be invited to submit a full application.

Principal Investigator
Individual responsible for activities involved in the grant, including the evaluation and follow-up. Also known as the Project Director.

Project Director
See Principal Investigator.

Program Income
Gross income or revenue generated by a project. This may include sale of real estate or equipment, rental income, fees, interest on loans, proceeds from the sale of loans, interest earned and funds collected through special assessments. Program income may be subject to all of the conditions of the original grant award.

Program Officer
A staff member of a government agency, foundation, or corporation who is responsible for overall administration of the program and for monitoring the project, providing technical assistance and ensuring that the project is carried out in accordance with the final contract or grant agreement.

Project/Program Grant
Funding for a specific initiative or new endeavor, not general purpose.

Project Period
The period of time authorized by the funding agency in which the proposed activties take place. This can range from less than a year to multi-year projects.

Proposal
A written application, often accompanied by supporting documents, submitted to an agency in requesting a grant.

Requests For Proposals (RFP)
A soliciatation by a grantor seeking applications from potential grantees. Also used by grantees to hire professional services.

Sponsored Program
EICC sponsored programs are those grant-funded projects that receive their primary funding from Federal, State or Private Foundations.

Subcontract
A legal agreement to transfer part of a grant or contract from the awarded institution to another organization. Terms and conditions of the original contract/grant also apply to the subcontract.

Sub-Grantee
A recipient of pass through grant funds from a grantee and not directly from the Grantor. A subgrantee is held to all of the regulations of the original grant plus any conditions added by the Grantee. Also known as Sub-Recipient.

Summary
Portion of the narrative in which you describe who, what, where, when, why and how very briefly. Tell what the proposal is about.

Unsolicited Proposals
Agencies may allow institutions to submit proposals for projects that are not part of the funding source's priorities or program areas.