Federal Grants
Federal grants come in many shapes and sizes. These gifts of money are awarded to educational institutions, nonprofit organizations, as well as state, local or city governments that organize and execute projects for the benefit of society (as authorized by the federal statute). A grant has conditions on about how long the work will take to be completed and the amount of funds to be allocated to the project. There are 21 categories under which federal grants may be sanctioned by the 26 federal grant making agencies.
There are three types of federal grants. The first is project grants, which are awarded to finance scientific research, technology development, education (Federal Pell grants), arts and social services. The second are formula grants, which are provided as dictated by the law and further categorized as categorical grants and block grants. The final type of federal grants are called earmark grants, which are requests from the federal government on project spending that is not specifically in the Presidents budget.
To apply for a federal grant you just need to submit an online application and then wait for the review process. This review process has four steps. The first is the application review, where the submitted application is reviewed for completion and ensured eligibility. Next is the programmatic review, during which the grant manager reviews the information and activities put forth in the application to see if they are achievable and within the legal limits as indicated in the solicitation. A peer review of the application is then used to assess the qualities of the application. The observations of this programmatic review, along with other relevant information, are placed before decision making bodies for approval.
The next step in the approval for a federal grant is the financial review. In this, the Office of the Chief Financial Officer (OCFO) assesses fiscal integrity and financial capability of the association. This office examines all aspects of the proposed cost and compliance with federal cost principles. The final step involves the award decisions, where the Office of Justice Programs (OJP) informs applicants of their grants approval or denial. When the organization receives the confirmation letter of their grant approval they can then move ahead with their projects objectives and grant money in hand.
by: Jason Ciao
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