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Gifts vs. Grants
What is the difference between a
gift and a grant?
A gift is a donation from an individual,
corporation, or non-profit organization. Gifts do not have
requirements such as final reports. A gift can be designated to a
particular department, however. Gifts are accepted and processed through College Advancement.
A grant is funding that may need
to meet certain requirements or fulfill a specific purpose.
Progress reports, budget reports, and general monitoring of the funding
are usual requirements. Generally, when there is an expected
outcome from the funding, it is a grant. If an expenditure report
is required, it is a grant. Since its role is to oversee and
monitor all grant activity, all grants need to be processed through the Office of Grants & Contracts.
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