Funding Sources and Grants Management
Expert-defined terms from the Global Certificate in School Budgeting and Financial Management course at LearnUNI. Free to read, free to share, paired with a professional course.
Funding Sources and Grants Management Glossary #
Funding Sources and Grants Management Glossary
1. Allocation #
- Explanation: Allocation refers to the process of distributing funds from a bud… #
It involves determining how much money will be assigned to each area based on priorities and needs.
2. Budget #
- Explanation: A budget is a financial plan that outlines an organization's expe… #
It serves as a roadmap for managing finances and helps in making informed decisions about resource allocation.
3. Capital Funding #
- Explanation: Capital funding refers to money allocated for long-term investmen… #
It is used to finance major projects that have a lasting impact on the organization.
4. Cost Sharing #
- Explanation: Cost sharing involves sharing the expenses of a project or progra… #
It demonstrates a commitment to the project and can enhance the chances of securing funding.
5. Donor #
- Explanation: A donor is an individual, organization, or government entity that… #
Donors may give money, goods, or services to help further the mission of the recipient.
6. Endowment #
- Explanation: An endowment is a fund that is invested to generate income for a… #
The principal amount is preserved, and only the earnings are used.
7. Fiscal Year #
- Explanation: A fiscal year is a 12-month period that organizations use for fin… #
It may or may not align with the calendar year and typically starts on a date other than January 1st.
8. Grant Proposal #
- Explanation: A grant proposal is a written document submitted to a funding sou… #
It outlines the goals, objectives, budget, and expected outcomes of the proposed initiative.
9. Indirect Costs #
- Explanation: Indirect costs are expenses that cannot be directly attributed to… #
These costs may include utilities, rent, and administrative salaries.
10. Matching Funds #
- Explanation: Matching funds are contributions made by an organization to lever… #
The organization must match a portion of the grant amount with its own resources to demonstrate commitment to the project.
11. Needs Assessment #
- Explanation: A needs assessment is a process of identifying gaps or deficienci… #
It helps in determining priorities for funding and developing effective programs to address those needs.
12. Operating Budget #
- Explanation: An operating budget is a detailed plan that outlines the day-to-d… #
It helps in managing cash flow and monitoring financial performance.
13. Program Evaluation #
- Explanation: Program evaluation is a systematic process of assessing the effec… #
It involves collecting data, analyzing results, and making recommendations for improvement based on the findings.
14. Restricted Funds #
- Explanation: Restricted funds are resources that must be used for specific pur… #
Organizations are required to adhere to the restrictions and ensure that the funds are spent according to the donor's intent.
15. Sustainability #
- Explanation: Sustainability refers to the ability of an organization to mainta… #
It involves managing resources wisely, generating revenue, and adapting to changing circumstances to ensure continued success.
16. Unrestricted Funds #
- Explanation: Unrestricted funds are resources that can be used by an organizat… #
These funds provide flexibility and support the organization's overall mission and operations.
17. Venture Philanthropy #
- Explanation: Venture philanthropy is an approach to giving that combines eleme… #
It focuses on funding social enterprises that aim to achieve both financial and social returns.
18. Working Capital #
- Explanation: Working capital is the difference between an organization's curre… #
It represents the funds available for day-to-day operations and is essential for meeting short-term financial obligations.
19. Yield #
- Explanation: Yield refers to the income generated by an investment, typically… #
It represents the return earned on the investment and is an important factor in evaluating the performance of financial assets.
20. Zero #
Based Budgeting:
- Explanation: Zero-based budgeting is a budgeting technique that requires organ… #
It helps in identifying inefficiencies and prioritizing spending based on current needs and objectives.