There are different types of grants that fit the project you are interested in seeking funding for. Knowing what these types are will help you apply for the one where you’ll have better chances of getting the award. Here are the most common types of grants:
- Annual Campaigns. These are grants that give support for an organization’s operating expenses, expansion, and improvement. For budget line-items like salaries, benefits, equipment, and other expenses that support operations, a grant for general/operating expenses may also be applied for.
- Building/Renovation Funds. If you need funds to build a new office or facility or seek to renovate an existing one, these are the types of grants to apply for. However, there are only a limited number of these types of grants awarded. A similar type of grant which gives not only money for construction and buildings but for equipment and endowments is the capital support fund.
- Challenge Monies. These are grants which are given by some organizations only after you have secured other funding sources (except government grants). A similar type of grant is that of matching funds where the award is only given when you are able to match it with your own funds or in-kind contributions.
- Conference/Seminar Grants. These are grants that pay for all the expenses (speakers, travel expenses, meals, etc.) associated with planning, joining, or hosting a conference or seminar.
- Endowments. These are grants given to a nonprofit organization which aims to develop and sustain its long-term viability. An endowment fund gives permanent investment income to the organization so it can continue to finance its operations.
- Fellowships. These are awarded to support the study and research of graduate and postgraduate students in the fields that they want to pursue. Students awarded portable fellowships can study at an institution of their choice while institutional fellowships are given by a university or institution of higher learning for the grantee to study there.
- Research. These are grants that are given to institutions that employ grantees. The aim is usually to further medical and educational research.
- Scholarship Funds. Awarded to students at the undergraduate or graduate levels to fund their studies. Scholarship usually pays for tuition, miscellaneous, and other related expenses like books and living expenses.
- Seed Money. These are grants that get programs started. The organization still has to find other sources of funding to enable the program to expand. Pilot programs can apply for program development grants to develop new programs and grow their organization.
- Technical/Consulting Assistance. These are grants given to organizations to enable them to hire a firm or an individual who can give them technical assistance to improve their program.
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