What's the difference between a grant, a contract, and a cooperative agreement?

A Grant: The purpose is to transfer money, property, services, or anything of value to a recipient in order to accomplish a public purpose.  The sponsor allows more freedom and less oversight with a grant.

A Contract: The purpose is to acquire property or services (deliverables) for direct benefit or use of the sponsor.  It's a procurement mechanism and allows the sponsor to determine the terms of the procurement contract.

A Cooperative Agreement: The purpose is to transfer funds to the recipient to accomplish a public purpose.  These awards are characterized by substantially more collaboration and involvement between the sponsor and recipient.
 

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