Sponsored Programs & Research Compliance

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Award Management

Grant Funds

All contract and grant funds start with a 5, i.e., 543270, and all expenditures must be approved by your grant officer. There is a designated time period in order to expend the funds and complete the project. This time period can be from a few months to several years.

Types of Externally Funded Projects

Grants - A grant is a monetary award provided by a sponsor to an organization. Sponsors can be State, Federal or Local governments, businesses, foundations or other nonprofit agencies. Typically grants are awarded to state and local governments, colleges and universities and nonprofit organizations. Grants are designed to accomplish a specific goal or objective by the awarding agency.

Contracts - A contract is essentially a procurement instrument used by the Federal government to acquire services or supplies for their benefit. Typically awarded to commercial enterprises although State, local governments and nonprofit organizations also receive contracts. Contracts typically have more terms and conditions than a grant. Generally places emphasis on delivery or performance. More heavily regulated than grants and more likely to carry legal and financial risk.

Cooperative Agreement - A cooperative agreement is a type of grant where the sponsor and grantee work collaboratively on the project. Typically there will be substantial Federal scientific or programmatic involvement on Federal Cooperative Agreements.