The Elevation Grant Program – Glossary of Terms
Lead organization – (within a collaborative) responsible for ensuring all partners carry out their respective programs and services as outlined in the proposal, disburses funding to partners, and is responsible for timely financial and program reports.
Grassroots organization – a resident-led organization/entity operating under community values, shared power and decision-making and supported by an organizational budget up to $250,000.
501(c)(3) – a nonprofit organization for religious, charitable, scientific, and educational purposes. They are tax-exempt and donations are tax-deductible.
Employer Identification Number (EIN) – an Employer Identification Number is also known as a Federal Tax Identification Number, and is used to identify a business entity. This number is assigned by the IRS.
Federal funding – award of money or economic aid provided by the United States government out of the funds available in the general federal revenue.
System for Award Management (SAM.gov) – The System for Award Management (SAM) e-procurement system collects data from suppliers, validates and stores this data, and disseminates it to various government acquisition agencies. SAM.gov validates entity uniqueness for Federal tracking of grantees, suppliers, contractors and other recipients of federal assistance.
DUNS Number (dnb.com) – The Data Universal Numbering System, abbreviated as DUNS or D-U-N-S, is a proprietary system developed and managed by Dun & Bradstreet that assigns a unique numeric identifier, referred to as a “DUNS number” to a single business entity. It was introduced in 1963 to support D&B’s credit reporting practice.
Single Audit – A non-Federal entity that expends $750,000 or more during the non-Federal entity’s fiscal year in Federal awards must have a single audit conducted in accordance with § 200.514 except when it elects to have a program-specific audit conducted in accordance with Uniform Guidance.
Uniform Guidance – a set of authoritative rules and regulations about federal grants from the Office of Management and Budget (OMB). This “guidance” is designed to keep everyone in the federal grants community – Congress, grant-making agencies, and applicants – referring to a common set of requirements.
Financial audit – an examination and evaluation of financial statements of an organization to make sure that the financial records are a fair and accurate representation of the transactions they claim to represent. Can be conducted internally or externally.
990-N postcard – annual information return filed by small tax-exempt organizations whose annual gross receipts are normally $50,000 or less.
990-EZ – annual information return filed by small and/or medium-sized tax-exempt organizations whose annual gross receipts are normally more than $50,000 but less than $200,000.
990 – annual information return filed by large-sized tax-exempt organizations whose annual gross receipts are normally $200,000 or more.
Fiscal Sponsor/Agent – a nonprofit organization that provides fiduciary oversight, financial management, and other administrative services to help build capacity.
Operating budget – a financial document that provides an overview of an organization’s annual projected revenue and expenses.
Financial management system – processes and software to manage an organization’s assets, income, and expenses.
Preparation clinic – an intensive training led by industry professionals to help navigate varying aspects of nonprofit operations.