Term: Grant funding

A grant is a fund given by an end entity grant – often a public body, charitable foundation, a specialised grant-making institution, or in some cases a business with a corporate social responsibility mission – to an individual or another entity, usually, a non-profit organisation, sometimes a business or a local government body, for a specific purpose linked to public benefit. Unlike loans, grants are not to be paid back.

Latin grant dated 1329, written on fine parchment or vellum, with seal