Grant money
for day cares can be obtained from local organizations, the state or federal government, or individual corporations that care about the benefits of early childhood education.
Significance
Grants are significant to day cares because they provide money allotted for the enhancement of the programs and do not need to be repaid.
Function
Grants work to provide funding for specific areas, such as literacy, safety, play equipment, training or equipment for special-needs children.
Benefits
Grant money allows day cares to make essential purchases or pay for continuing education without taking money out of their monthly budgets.
Types
Some grants are awarded to recognize achievement, while others are given to expedite meeting the minimum licensing requirements mandated by the state. Some grants are competitive and must be applied for. Food grants are also offered by each state.
Tip
When spending grant money, day cares should document all expenses and keep all receipts in the event that they are ever audited by the IRS.
