What is a Grant?

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Legal Disclaimer

What is a Grant?

Grants include the following types of expenditures:

Scholarships, fellowships, internships, prizes, and awards

Loans for charitable purposes

Program related investments

Payments to exempt organizations to further the organizations' exempt purposes

Grants do not ordinarily include the following types of expenditures:

Salaries or compensation to employees

Payments to persons for personal services in helping a foundation plan, evaluate, or
develop projects or areas of program activity by consulting, advising, or participating on conferences organized by the foundation.

Source: http://www.irs.gov/charities/foundations/article/0,,id=175078,00.html

DISCLAIMER: This information is not intended to provide legal or accounting advice, or to address specific situations. Please consult with your legal or tax advisor to supplement and verify what you learn here.