Idaho Recoverable Grant Agreement is a specific type of financial arrangement offered by the state of Idaho to promote economic growth and development within the region. This grant program aims to provide financial assistance to eligible individuals, businesses, and organizations to support their projects and initiatives. Under the Idaho Recoverable Grant Agreement, recipients receive funding from the state but are obliged to repay a certain portion of the grant amount in the future. This reimbursement structure ensures the sustainability and continuity of the grant program, as the repaid funds can be reinvested into new projects, further contributing to the state's economic prosperity. There are several types of Idaho Recoverable Grant Agreements available, each tailored to address unique needs and goals: 1. Small Business Recoverable Grant: This specific grant agreement is designed to assist small businesses in Idaho with funding for business expansion, technology acquisition, marketing campaigns, or other initiatives that drive growth and success. 2. Non-Profit Organization Recoverable Grant: This grant program targets non-profit organizations that aim to improve their community impact or launch new initiatives. The funds can be used to support programs that address social issues, enhance access to education, healthcare services, or promote cultural activities. 3. Rural Development Recoverable Grant: This type of grant agreement caters specifically to businesses and projects located in rural areas of Idaho. It encourages economic diversification and promotes job creation, infrastructure development, and enhancement of the overall quality of life in these rural communities. 4. Research and Innovation Recoverable Grant: This grant agreement focuses on fostering research, development, and innovation in various sectors such as technology, agriculture, healthcare, or environmental conservation. It supports projects that have the potential to bring about significant advancements and create a positive impact on Idaho's economy. 5. Tourism Recoverable Grant: This unique grant program aims to boost Idaho's tourism industry by providing financial support to businesses and organizations involved in tourism-related initiatives. This may include developing new attractions, improving existing tourism infrastructure, or promoting Idaho as a premier destination. The Idaho Recoverable Grant Agreement serves as a valuable tool for stimulating economic growth, innovation, and community development within the state. By offering various types of grants tailored to specific needs, Idaho aims to encourage entrepreneurship, job creation, and sustainable growth, resulting in an improved quality of life for its residents.
Idaho Recoverable Grant Agreement
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How to fill out Recoverable Grant Agreement?
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Recoverable grants are non-exchange transactions and should be reported as revenue when the eligibility requirements are met. If the government has received a recoverable grant, the conditions for recoverability must be disclosed in the notes to the financial statements.
The Agreement includes: this letter ? the Grant schedule (attachment A) ? the Grant terms and conditions (attachment B) ? your application ? the grant opportunity guidelines applicable on the date you submitted your application.
Unlike recoverable grants, loans must be repaid by a borrower regardless of project or grantee financial performance. They may be forgiven by the lender, but they are always considered debt for accounting purposes.
Recoverable grants are different from loans in that they are forgivable. Grantors may consider forgiving repayment under extraordinary circumstances, and in Echoing Green's case, are not repayable unless the recipient company is financially successful.
A recoverable grant is a philanthropic tool that provides nonprofit organizations with funding for specific revenue-generating programs and initiatives. If a program meets its financial and impact objectives, the nonprofit may return the grant funds to the donor advised fund for additional grantmaking.
The main difference between a grant and a loan is repayment. A loan requires you to repay the money you borrow, whereas a grant does not. Grants are, essentially, a gift.
Recoverable grant capital can serve the same purpose for a nonprofit organization. For example ? if a nonprofit is working to test a new, unproven solution to address climate change, they need access to patient risk capital to help them innovate and try new ways to address the problem.