Grant Writing & Proposal Budgets Flashcards
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Read the first 7 Grant Writing & Proposal Budgets flashcards as text
What is a 'challenge grant' (or matching grant) and how does it incentivize donor behavior?
Answer: A grant where the funder pledges funds contingent on the nonprofit raising a specified amount from other donors
A challenge grant commits funder dollars only if the nonprofit successfully raises a specified matching amount from other sources, motivating additional donor contributions.
In a multi-year grant proposal, why is it important to show a year-by-year budget breakdown?
Answer: It shows how costs may shift over the project period and demonstrates thoughtful financial planning
Year-by-year breakdowns reveal how project costs evolve over time and demonstrate that the organization has planned the project thoughtfully.
What is the significance of a funder's 'grant guidelines' or 'RFP' (Request for Proposals)?
Answer: They define eligibility, priorities, format requirements, and evaluation criteria that applicants must follow
Grant guidelines and RFPs set binding requirements for eligibility, priorities, formatting, and scoring that applicants must follow to be considered.
Which of the following costs is generally considered UNALLOWABLE under federal grant regulations?
Answer: Costs for alcoholic beverages at a grant-funded event
Alcoholic beverages are explicitly listed as unallowable costs under 2 CFR Part 200 and cannot be charged to federal grants.
What does 'carryover' mean in federal grant management?
Answer: Unspent grant funds from one budget period that are authorized to be used in a subsequent budget period
Carryover refers to unspent grant funds from a prior budget period that are approved for use in the following budget period to continue project activities.
When writing a budget narrative, the PRIMARY goal is to:
Answer: Justify each line item by explaining what will be purchased and how the cost was calculated
The budget narrative explains and justifies each cost in the budget, showing funders how amounts were calculated and why each expense is necessary.
A nonprofit receives a grant with a 'restricted' designation. This means:
Answer: The funds must be used for the specific purpose defined by the funder and cannot be redirected to other uses
Restricted grants carry donor or funder conditions specifying the exact purpose for which funds may be used, and must be tracked and spent accordingly.