Apply Grants

While grants are a great source of additional income for deserving individuals and businesses, it is important to realize that by and large these are in fact taxable money donations. This means that individuals and businesses and organizations receiving a grant, unless covered under the limited exceptions listed by the IRS below (such as an educational grant), must pay taxes on the money received. Thus, the money received in a grant that is not considered tax-free, must be added to your gross yearly income, to which your taxes are calculated. Unfortunately because of the variance in personal income it is difficult to give an accurate estimate of how much tax you will pay on your grant. In fact, with so many factors taken into consideration in income taxes, it is very unlikely that any two people, even with the same salary, would pay the same tax. As such it is a good idea to contact an accountant on this matter before spending the grant in its entirety, as you will probably need to set...

Nineteen states are competing for a Race to the Top – the 10-15 winners will split $3.4 billion in education grants. Some call it the “quiet revolution” in education. Obama’s newest project will fund improvements to education and support more autonomous charter schools. The 19 finalists compete for the $3.4 billion leftover in education grants, after $600 million was allotted to Delaware and Tennessee already. The money will be put to cover adoption standards and assessments, improving low-performing schools, creating teaching jobs and building better data systems, Reuters reports. The 19 states elected to compete as finalists will be narrowed down to 10-15 states, depending on the size of the winners. The money should be allotted to the winners in September of 2010. Among the finalists are Ohio and Maryland, who are two of the top contenders. Other financially struggling states in the competition include California, Florida, Illinois, New Jersey, New York and Rhode Island. Personal Ed...

Grants available to women are generally divided into two categories: public or private. Public grants are government backed and funded. For this reason, these grants are usually open to a broad spectrum of projects and applicants, often with relatively large awards. Conversely, private grant funding is offered by an individual or committee with a specific interest in the project at hand. This makes them more narrow in scope and typically for smaller amounts. Travel Grants for Women is one example of a grant that is offered jointly by the National Science Foundation and the Association for Women in Mathematics. These grants offer up to $2,000 each for women performing research related activities in the specific area of mathematics. Research is normally related to conference attendance, however, other types of research may qualify as well. The purpose of the grant is to encourage research among female mathematicians by helping to defray any associated travel expenses. Similar programs of...

As the cost of education rises, college students increasingly rely on financial aid in the form of loans. While loans help students pay for college, those students are consequently already in debt upon graduation. One way to avoid, or lessen the debt, is to seek out college grants. Grants are financial aid monies that do not require repayment. There are many public and private grants available. One of the most common public grants is the Pell Grant. This grant requires a FAFSA (Free Application for Federal Student Aid). This form can be completed online and applying requires no additional steps beyond completing the FAFSA. The Pell Grant is based on income level, cost of college of attendance, and student status. Recently the maximum Pell Grant award was raised to $5645 annually. Another public grant are those offered by individual states. These grants are often eligible to students attending state universities. Several states offer them to assist students with alleviating the cost of ...

President Obama came into office with about 6.1 million students receiving the Pell Grant, with a total annual disbursement of roughly $18 billion. In the intervening years, the maximum annual grant amount has gradually increased, and eligibility requirements have tightened. Discussions have remained focused on maintaining the core program objectives in an era of budget restraint. Each Pell Grant approved by the U.S Department of Education applies to a 12-month period measured from July 1 to June 30. The maximum annual grant amount was $4,731 at the time of the president’s 2008 election. The American Recovery and Reinvestment Act, also known as the stimulus bill, raised the amount to $5,350 in 2010. After the next two years at $5,550, the grant limit is now at $5,635. The Free Application For Federal Student Aid is required to start the grant process. The FAFSA application provides financial information about the student or the student’s parents in order to formulate the expected famil...

Fossil reserves are not endless, and cause considerable damage to the planet. Using renewable energy (Eco and Green) helps to mitigate the damage of fossil fuel to the planet by decreasing energy expenditure. Eco and Green energies are renewable energies and are replaced by a natural process. During the renewal, the energy source is not completely depleted. Despite how serious you are about implementing the Green initiative, the out-of-pocket costs can be too great. To offset these costs, government and special interest groups offer Eco and Green Grants. These are cash back incentive programs for exchanging current non-renewable energy methods for an Eco or Green (renewable) energy methods. Realizing the importance and necessity of Eco and Green energy use, local and federal governments, and special interest groups offer grant money to those companies, individuals, and organizations interested in the development and implementation of Eco and Green energy use. The amount allocated to th...