An award is something given to a person or a group of people to recognize excellence in a certain field; a certificate of excellence. Awards are often signified by trophies, titles, certificates, commemorative plaques, medals, badges, pins, or ribbons. An award may carry a monetary prize given to the recipient, for example, the Nobel Prize for contributions to society or the Pulitzer Prize for literary achievements. An award may also simply be a public acknowledgment of excellence, without any tangible token or prize. http://en.wikipedia.org/wiki/Award

Philanthropy is the act of donating money, goods, time, or effort to support a charitable cause, usually over an extended period of time and in regard to a defined objective. - Wikipedia at: http://en.wikipedia.org/wiki/Philanthropy

grant agreement: A legally binding written understanding between a grantmaker and a grantee specifying terms for a grant's expenditure and reporting. - GOSW and Forum of Regional Associations of Grantmakers