Foundations are organizations which makes use of expertise and money to convert out society, world or community in to a better living place. Foundations can be either government or private foundations. But most of the foundations are private in nature, set up by individuals (wealthy) who wished to use a part of their earnings for noble charitable causes.
Certain foundations are also formed by big corporations while others are founded by families. There are community foundations too that use the earnings to provide grants to various non profit institutions and organizations and encourage individuals of the local community to donate certain amounts and make them involve in philanthropy.
Grants are nothing but the money or amount that is given to businesses or individuals by a foundation. Individuals or organizations or businesses can utilize the grants for improving their job or status. Grants need not be repaid that there are many takers for it. Normally grants are provided for persons or organizations which have the same type of objective or goal just like the foundation which offers it.
Various foundations limit their support in the form of grants to certain fields such as arts, culture and environment and for assisting financially poor people. In order to obtain grants from foundations an organization or person should apply and become eligible for it.
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