The concept of a matching grant is simple; state or local governments designate funds to go to particular types of projects. If accepted, the local government will match the community contribution to the project, generally at a 1:1 or 2:1 match, but it could be set up for any level of match.
What is a match requirement for a grant?
A match for a federal grant is the non-federal share of the total project costs that a grantee is required to contribute to achieve the purposes of the award. The required match percentage, sources of match, and other requirements vary from program to program, so the program solicitation should be consulted.
What is a grant cash match?
Cash match is either the grantee organization's own funds (general revenue) or cash donations from non-federal third parties (i.e. partner organizations), or by non-federal grants. A cash match contribution is an actual cash contribution. In-Kind Match. In-kind match contributions come from the grantee organization.
What is the difference between matching grant and block grant?
Block grants provide funding for eligible activities identified in authorizing legislation. The purpose is to allocate funding based on quantifiable variables. Matching grants require that the recipient contribute something towards the project costs.
What are the 4 types of grants?
- Competitive Grant Based on the Merits.
- Formula Grant Based on Predetermined Award.
- Continuation Renewal Grants.
- Pass-Through Grants Issued by a Federal Agency.
What is a grant and a block grant?
Block grants are awarded by the Federal government to state and local governments for broadly defined purposes — for example, social services or community development. Such grants can be used for a variety of activities within a broad functional area.
What is the purpose of a block grant?
Block grants provide state and local governments funding to assist them in addressing broad purposes, such as community development, social services, public health, or law enforcement, and generally provide them more control over the use of the funds than categorical grants.
What are the 3 main types of grants in aid?
Block grants, categorical grants, and general revenue sharing are three types of federal government grants-in-aid programs.
How are grant matches calculated?
Example: For a federal award amount of $350,000, match would be $350,000 x 50% = $175,000 match, or $350,000 x 10% = $35,000 match.
How is match percentage calculated?
So, if the Relate to shorter input option is set to No, the Word Match Percentage (WMP) is calculated as follows: MWL (3) - WED (1) = 2, divided by MWL (3) = 0.66, multiplied by 100 = 66%.