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You're an administrator for a symphony that hosts a concert series each summer. Part of your job involves applying for grants, which can be a very detailed and involved process.

The symphony association wants to see if you can secure a grant from the federal government. One of your staff members has brought you a grant application to look at.

You need to decide if you meet the requirements for this grant. You represent a community arts association with an annual budget of $230,000. You'd like to use some of this money to establish a computer system so you and your staff can produce a web page for the concert series. Consult the regulations for the grant and see if you should even try to apply. Here's what it says:

Projects aim to clarify arts organizations' identities and missions; build capacity and resources to pursue their missions; sustain the arts in an era of constant change; and build partnerships that strengthen the arts infrastructure.

Projects may include technical assistance; activities to enhance earned income through creating or developing products or services; efforts to identify target audiences; consortium development; and community planning.

Grants range from $15,000 for planning and $40,000 for stabilization projects to $500,000. Stabilization applicants must have minimum annual operating expenses of $200,000 for the most recent fiscal year.

First, decide whether the symphony association qualifies for the grant. After all, if you don't qualify, you don't want to waste your time preparing the application.

Now, write a memo to the association's president, Mr. Gunthry. He has asked you to report your recommendation, and tell him why, or why not, you should apply. You'll have to ask for permission to apply, or let him know you will keep looking for a grant.

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OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.