Oklahoma Recoverable Grant Agreement
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FAQ
A "grant" is a general term for funds that organizations receive that are not expected to be repaid. To receive a grant, organizations must compete for funds by submitting an application and undergoing an evaluation process. Grants may be awarded by state or local agencies, private foundations, or corporations.
The grant agreement defines what activities will be undertaken, the project duration, overall budget, rates and costs, the EU budget's contribution, all rights and obligations and more.
Recoverable grant capital can serve the same purpose for a nonprofit organization. For example ? if a nonprofit is working to test a new, unproven solution to address climate change, they need access to patient risk capital to help them innovate and try new ways to address the problem.
Include the program's name as described in the applicant's proposal. Grant period and payment schedule. For larger or more complex grants, the amount might be paid in installments. If this is the case, the grant agreement explains when and under what conditions future payments will be made.
Grants are awards of financial assistance, usually from a governmental agency or foundation, primarily for carrying out a public purpose of support or stimulation. A grant is distinguished from a contract, which is used to acquire property or services for the government's direct benefit or use.
The Agreement includes: this letter ? the Grant schedule (attachment A) ? the Grant terms and conditions (attachment B) ? your application ? the grant opportunity guidelines applicable on the date you submitted your application.
