A payment made to a recipient upon its request either before outlays are made by the recipient or through the use of predetermined payment schedules.
American Recovery and Reinvestment Act (ARRA) of 2009
The economic stimulus package of $787 billion (Also known as the “Recovery Act”, was signed into law by the President on February 17, 2009; it is the economic stimulus package of $787 billion. “Making supplemental appropriations for job preservation and creation, infrastructure investment, energy efficiency and science, assistance to the unemployed, and State and local fiscal stabilization, for the fiscal year ending September 30, 2009, and for other purposes”.
Financial assistance that provides support or stimulation to accomplish a public purpose. Awards include grants and other agreements in the form of money or property in lieu of money, by the federal government to an eligible recipient. The term does not include: technical assistance, which provides services instead of money; other assistance in the form of loans, loan guarantees, interest subsidies, or insurance; direct payments of any kind to individuals; and contracts which are required to be entered into and administered under federal procurement laws and regulations.
A payment made or an entitlement available in accordance with a wage agreement, an insurance policy, or a public assistance program.
Federal website created by the White House in 2002 to provide citizens with easy online access to government benefit and assistance programs, established to launch and manage a diverse portfolio of government-to-citizen, government-to-business and government-to-government websites. Operated, managed and supported by federal agency partnerships, these initiatives provide high-quality solutions such as citizen tax filing, federal rulemaking, electronic training, and benefit information delivery. The beneficiaries include citizens, businesses and federal and state government employees.
A recipient’s cash outlay, including the outlay of money contributed to the recipient by third parties.
Catalog of Federal Domestic Assistance (CFDA)
An online database of all federal programs available to state and local governments, federally-recognized Indian tribal governments, territories and possessions of the United States, domestic public, quasi-public, and private profit and nonprofit organizations and institutions, specialized groups, and individuals.
Catalog of Federal Domestic Assistance (CFDA) Number
The identifying number that a federal program is assigned in the Catalog of Federal Domestic Assistance (CFDA).
Central Contractor Registration (CCR)
The Central Contractor Registry (CCR) was the primary vendor database for the U.S. federal government. CCR functionality was migrated to the System for Award Management (SAM) in late July 2012.
Process by which the awarding agency determines that all applicable administrative actions and all required work of the award have been completed by the recipient and the awarding agency.
A procurement contract under an award or subaward, and a procurement subcontract under a recipient's or subrecipient’s contract.
A corporation is defined as a legal entity or structure created under the authority of the laws of a state consisting of a person, or group of persons, who become shareholders. The entity’s existence is considered separate and distinct from that of its members. Since a corporation is an entity in its own right, it is liable for its own debts and obligations. In forming a corporation, prospective shareholders transfer money, property, or both, for the corporation’s capital stock.
Cost Sharing or Matching
The portion of project or program costs not borne by the federal or state government.
Data Universal Numbering System (DUNS)
A unique nine-character identification number provided by the commercial company Dun & Bradstreet (D&B).
Charges to an award that the awarding agency determines to be unallowable, in accordance with the applicable federal cost principles or other terms and conditions contained in the award.
A grant (or cooperative agreement) for which the federal awarding agency generally may select the recipient from among all eligible recipients, may decide to make or not make an award based on the programmatic, technical, or scientific content of an application, and can decide the amount of funding to be awarded.
Earmark grants are grants that are appropriated by Congress prior to a peer review. The term "earmark" is a reference to the Congressional Record where the awards are written into the legislation specifically with the grant applicant's name, activity and dollar amounts.
A government program that guarantees and provides benefits to a particular group.
Tangible nonexpendable personal property, including exempt property, charged directly to the award and having a useful life of more than one year and an acquisition cost of $5,000 or more per unit. However, consistent with recipient policy, lower limits may be established.
Training programs, either on-the-job, classroom or any combination thereof, sponsored by an employer or other eligible grant recipient on behalf of employers, which are intended to provide employees with the skills required to perform their current job or as a condition of continued employment. The employee skill requirements are established by the employer or participating employers and may include basic, technical, and managerial skills.
An estate is a legal entity created as the result of a person’s death. The decedent’s estate is a separate legal entity for federal tax purposes. An estate consists of real and/or personal property of the deceased person. The estate pays any debts owed by the decedent and then distributes the balance of the estate’s assets to the beneficiaries of the estate. The estate exists until the final distribution of the assets is made to the heirs and other beneficiaries.
FEIN or EIN
A Federal Employer Identification Number (FEIN or just EIN) is a nine-digit number that IRS assigns in the following format: XX-XXXXXXX. It is used to identify the tax accounts of employers and certain others who have no employees. However, for employee plans, an alpha (for example, P) or the plan number (e.g., 003) may follow the EIN. The IRS uses the number to identify taxpayers that are required to file various business tax returns. EINs are used by employers, sole proprietors, corporations, partnerships, non-profit associations, trusts, estates of decedents, government agencies, certain individuals, and other business entities. Use your EIN on all of the items that you send to the IRS and the Social Security Administration (SSA).
A fiduciary is any person acting in a fiduciary capacity for any other person. A fiduciary for a decedent’s estate can be an executor, administrator, personal representative, or person in possession of property of a decedent’s estate. The primary duties of the fiduciary are to collect all the decedent’s assets, pay the creditors, and distribute the remaining assets to the heirs or other beneficiaries.
The transfer of a thing of value from a federal agency to a recipient to carry out a public purpose of support or stimulation authorized by a law of the United States (see 31 U.S.C. 6101(3)). An agency may provide financial assistance through various types of transactions, including grants, cooperative agreements, loans, loan guarantees, interest subsidies, insurance, food commodities, direct appropriations, and transfers of property in place of money.
An individual who is employed for consideration for at least 35 hours each week or who renders any other standard of service generally accepted by industry custom or practice as full-time employment. An individual for whom a W-2 is issued by a Professional Employer Organization (PEO) is a full-time employee if employed in the service of the Applicant for consideration for at least 35 hours each week or who render any other standard of service generally accepted by industry custom or practice as full-time employment to Applicant. (for example, FTE= 25 hours week is industry standard for package delivery)
The period of time when federal or state funding is available for obligation by the recipient.
A State or local government or a federally recognized Indian tribal government.
A federal grant ia an award of financial assistance from a federal agency to a recipient to carry out a public purpose of support or stimulation authorized by a law of the United States. Federal Grants are not federal assistance or loans to individuals.
A storefront web portal for use in electronic collection of data (forms and reports) for federal grant-making agencies through the Grants.gov site. (www.grants.gov).
Incremental Income Tax
The total amount withheld during the taxable year from the compensation of New Employees under Article 7 of the IL Income Tax Act arising from employment at a project that is the subject of an Agreement.
Any collective bargaining unit or any labor entity formed by collective bargaining units such as State Labor councils, district labor councils, local central labor councils and international unions as well as the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO)
Limited Liability Company(LLC)
A limited liability company (LLC) is an entity formed under state or foreign law by filing articles of organization as an LLC. Unlike a partnership, none of the members of an LLC are personally liable for its debts.
A local unit of government, including specifically a county, municipality, city, town, township, local public authority, school district, special district, intra-state district, council of governments (whether or not incorporated as a nonprofit corporation under State law), any other regional or interstate entity, or any agency or instrumentality of local government.
North American Industry Classification System (NAICS)
A code with a maximum of six digits used to classify business establishments. This code will be replacing the Standard Industrial Classification (SIC) code.
Non-Profit or IRC Section 501 (c)(3) Organization
This is an organization that is organized and operated exclusively for one or more of the following purposes: charitable, religious, educational, scientific, literary, testing for public safety, fostering national or international amateur sports competition (but only if none of its activities involve providing athletic facilities or equipment), or the prevention of cruelty to animals. To qualify, the organization must be a corporation, community chest, fund, unincorporated association, or foundation.
The amounts of orders placed, contracts and grants awarded, services received and similar transactions during a given period that require payment by the recipient during the same or a future period.
A field located on the DCEO Program and Services website screen. The Opportunity Category field values include Business, Community, Energy, Government, Job Training, Technology, Tourism. The Opportunity Category field was added to the site to assist DCEO with aggregating opportunities and facilitating in information filtering.
A grant applicant who is submitting a grant on behalf of a company, state, local or tribal government, academic or research institution, not-for-profit, or any other type of institution.
A partnership is the relationship existing between two or more persons who join together to carry on a trade or business. Each partner contributes money, property, labor or skill, and expects to share in the profits and losses of the business. The term ‘partnership’ includes a limited partnership, syndicate, group, pool, joint venture, or other unincorporated organization, through or by which any business, financial operation, or venture is carried on. An unincorporated organization with two or more members is generally classified as a partnership for federal tax purposes if its members carry on a trade, business, financial operation, or venture and divide its profits. However, a joint undertaking merely to share expenses is not a partnership. For example, co-ownership of property maintained and rented or leased is not a partnership unless the co-owners provide services to the tenants.
A sole proprietorship is an unincorporated business that is owned by one individual. It is the simplest form of business organization to start and maintain. The business has no existence apart from you, the owner. Its liabilities are your personal liabilities and you undertake the risks of the business for all assets owned, whether or not used in the business. Include the income and expenses of the business on your own tax return. For more information on sole proprietorships, see Publication 334, Tax Guide for Small Businesses. If you are a farmer, see Publication 225, Farmer’s Tax Guide.
Tax Exempt Organization
A tax exempt organization is a non-profit organization that is exempt from certain taxes because it is described under Section 501 of the Internal Revenue Code. Certain organizations are required to apply to the Internal Revenue Service for a determination letter that grants them formal tax exemption, while other organizations are treated as tax exempt as long as they are organized and operated under an applicable section of the Code.
A trust is an arrangement through which trustees take title to property for the purpose of protecting or conserving it for the beneficiaries under the ordinary rules applied in chancery or probate courts. A trust is a legal entity created under state law and taxed under federal law. A trust may be created during an individual’s lifetime (inter vivos) or at the time of his or her death under a will (testamentary). Trusts include guardianships, custodianships, conservatorships, receiverships, escrow accounts, Ginnie Mae (GNMA) and Fannie Mae (FNMA) pools.