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The free money offered through a grant program can lead to financial and legal disaster to an organization that does not abide by the strict rules that the grant holds. By failing on a part of the obligation agreed upon when the grant is approved, the organization and/or persons in charge are held accountable. Penalties can range from economic sanctions to prison in the instance of improper use or theft of this free money.
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The majority of grants, or free money, that is requested is applied for and awarded to other Federal agencies, state governments, city governments, colleges, universities, and research organizations and businesses. Few individuals have the money, time, and expertise necessary to prepare adequate applications that are awarded free money through federal grant funding. Most active grant seekers, such as universities, employ full-time grant writers to do nothing but apply for and administer Federal grant funding. A full staff of grant writers is not uncommon at a large university.
Because this free money through Federal grants is carefully monitored, the truth is that the money isn't actually free. Applying for Federal grants takes an unbelievable amount of time. Additionally, by even unintentionally not abiding by the grant's requirements, as mentioned, an individual that is unfamiliar with the Federal government's grant programs can find themselves in a financial or legal disaster. With Federal funding cutbacks and the competition for grant fundings becoming more intense, seeking free money through a grant requires not only time, but also money, with no guarantee of success.
Stating it plainly, Federal grants and free money are fictitious. Often, it's more work, not to mention more time and money spent obtaining a Federal grant, than obtaining a low interest loan. Large organizations, such as universities, can benefit from grant funding much easier because they can apply for multiple grants at once, and a skilled, knowledgeable staff can monitor the grant's use carefully. A small business or organization may not see as much success in obtaining a grant due to the time needed to apply, monitor funds, and prepare materials for auditing.
The plain truth is that with federal funding cutbacks and competition for them becoming more intense, seeking a federal grant always requires a lot of time and potentially a lot of money up front with no guarantee of success. Dedication is needed, and is the most important part of attempting to obtain free money through grant funding.
About The Author
Rebecca Game is the founder of Digital Women ®, an online community for women in business. A 30 year entrepreneur and dedicated to helping other women find business loans. Visit her site: Loans for Women.
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Free Money Through Grants: Fact or Fiction?
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Additional Government Grants Resources
Replication Research on Sexual Violence Case Attrition Program
The Office of Justice Programs has recently announced the establishment of the Replication Research on Sexual Violence Case Attrition Program in an attempt to fund one research grant that could replicate the National Institute of Justice's Police Decision-Making in Sexual Assault Cases: An Analysis of Crimes Reported to the Los Angeles Police Department.
Rural Policy Analysis Program
The Health Resources and Services Administration has recently established the Rural Policy Analysis Program, wherein it intends to solicit applications that support the research and analysis of respective policy affecting rural communities, so as to inform policy makers.
Conservation Innovation Grants Program
The Natural Resources Conservation Service in the state of Michigan has recently established the Conservation Innovation Grants(CIG) Program wherein it intends to stimulate the creation and adoption of innovative conservation approaches and initiatives.
Solar Decathlon and Energy Efficiency and Renewable Energy Showcase Event
The Solar Decathlon and Energy Efficiency and Renewable Energy Showcase Event seeks to promote and encourage the outreach, education and economic benefits of energy security, as well as renewable energy and energy efficiency through the demonstration of various EERE technologies that can be utilized in the community.
Choosing An Online Private College And University
Private colleges and Universities are known for their high standards and excellent academic programs. Their online programs are no different. If you are ready to get your Bachelor's degree, or if you...
Migratory Bird Joint Ventures: Playa Lakes Joint Venture Base Operations
The Southwest Region of the US Fish and Wildlife Service is now seeking applications and proposals for the start of base operations, that is core support staff activities and functions, for the Playa Lakes Joint Venture partnership.
Government Grants Within The United States Health Sector
The health care system in the US is as diverse as it is all-encompassing. A huge number of health care facilities are now owned by private sectors while a huge chunk of health insurance plans are primarily provided by the government in the public sector.
Social Entrepreneurship
Spotlight
Change in the World of Work and Enterprise: Get Young People Into Work
The position young people are dealt with can be complex, and yet the entire economic system is still focused for an age that’s almost gone astray. The solution? Promoting social enterprise and getting these young people integrated into work.
