Gift vs. Grant

The terms grant and gift are often used interchangeably. However, a grant is more restrictive than a gift, and requires different monitoring and accounting procedures. The following guidelines are those developed by UVM to distinguish a grant from a gift.

Grant

• Intends to support a project with a specific set of objectives.
• Normally requires a formal written proposal that indicates total project costs.
• Requires periodic written reports of a descriptive, technical and/or financial nature.
• Must be budgeted and accounted for separately from other awards.
• Must be applied for and awarded through Sponsored Project Administration to assure compliance with UVM and agency policies.

Gift

• Normally requires no formal proposal and no reporting of a descriptive, technical, or financial nature.
• Is made and accepted without consideration of project costs, but rather as project or institutional support.
• Can be combined with gifts of a similar nature for similar purposes and does not need separate accounts or budgets.
• May be for a specific project or unrestricted institutional purposes.

Last modified August 30 2011 12:16 PM