1. Home
  2. Foundation Projects
  3. What’s the difference between a gift, a grant, and a contract?
  1. Home
  2. *All Help Topics
  3. What’s the difference between a gift, a grant, and a contract?

What’s the difference between a gift, a grant, and a contract?

A gift is a voluntary and nonreciprocal donation of personal (cash, securities, books, equipment, life insurance, etc.) or real property provided by a non-governmental donor for which no goods or services are expected, implied, or forthcoming.

There are two types of grants – specific and non-specific. A specific grant results from a successful grant proposal submitted by the University. The University commits resources or services as a condition of the grant to carry out a specified project and is subject to terms and conditions, a specific period of performance, and may require delivery of a product, usually a technical report. A non-specific grant is a gift designated as a “grant” by a donor. Nonspecific grants usually result from the submission of a proposal.

A contract is a written agreement defining the role of the University in executing performance outlined in a narrowly defined scope of work.

For more detailed definitions of gifts, grants and contracts, see the Definition of Gifts, Grants and Contracts 3D Memo.

Updated on October 29, 2020

Was this article helpful?

Cant't find what you are looking for?
Sends us a message
Contact the KB Team