QUESTION: 13

A Challenge Grant is a form of grant that provides monies determined:

basing on a specific formula
basing on the direct costing formula
basing on the indirect costing formula
None of the choices.

Answer(s): A

Explanation:

A Challenge Grant is a form of grant that provides monies in response to monies from other sources, usually basing on a specific formula. There is usually a fixed upper limit plus a challenge minimum below which no grant will be made. This form of grant is rather popular in the fields of arts and humanities. Note that a challenge grant is different from a matching grant in that the amount of money that the recipient organization realizes from a challenge grant can vary widely depending upon how successful that organization is in meeting the challenge.

Reveal Solution Next Question

QUESTION: 14

With a Challenge Grant,

There is usually a fixed upper limit plus a challenge minimum below which no grant will be made.
There is usually a fixed upper limit plus a challenge minimum below which only HALF of the grant will be made.
There is usually no fixed upper limit.
There is usually a variable upper limit plus a challenge minimum below which no grant will be made.
None of the choices.

Answer(s): A