Gift or Grant?

A gift is a voluntary and irrevocable transfer of money, services, or property from an external donor for restricted or unrestricted purposes. Gifts to UGA or its faculty are managed by the Arch Foundation. Gifts have “no strings” and an exchange transaction (a swap of something of value) cannot be created when a gift is made.

A grant is the transfer of money or property from a sponsor to an institution that typically has a period of performance and may require performance of specific duties, budget reports, progress reports, and return of unused funds.