A grant is support for a specific project that is designed by the funds recipient. The sponsoring agency has expectations about how the funds are spent and the project usually has stated goals, objectives, deliverables and financial reports.
A contract is an agreement whereby the sponsor clearly defines the activities. This is the most formal type of award, and characteristics include specific deliverables stipulated in negotiations, the sponsor monitors project performance, and technical and detailed financial reports are required.
Several types of projects fall under extramural funding:
- Research projects
- Outreach/Educational projects
- Training, instruction and QA/QI projects
The Proposal Submission Guidelines handbook will help guide the submission process. Required Steps for Submitting an Extramural Proposal include:
- Contact Research and Development
As soon as you know you will be applying for extramural funding, contact R&D. Please send R&D a copy of the proposal announcement.
Plan on meeting with R&D to develop a budget. Areas to think about are personnel and their time, supplies, travel, etc. A preliminary budget worksheet is available to help you develop your budget. R&D must approve the budget before the proposal can be submitted.
- Application Forms
Most sponsors have specific application forms that must be followed in detail. R&D will help to complete these forms and check for errors.
- Subcontract or Consultants
If applicable, let R&D know that there will be subcontracting institutions or consultants. R&D will work with the other institution to ensure all paperwork and approvals are in place.
- Cost Share Approval and/or Third Party Matching Funds
If cost share is required by the sponsor or requested by the PI, the Cost Share Approval form must be completed and signed by the appropriate officials. In addition, if the PI has a third-party offering matching funds, a commitment letter from the third-party must be sent to R&D. This commitment letter must specifically outline the matching funds for the project.
- Proposal Routing, Approval Form and Other Required Forms
Complete the Proposal Routing and Approval form and the Conflict of Interest (COI) Questionnaire and return them to R&D.
Only R&D can submit a grant on behalf of Carilion.
If awarded, R&D will work with the sponsoring agency to negotiate award.