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Cognizant Agency [Small Business Development Centers]
Understanding Cognizant Agency [Small Business Development Centers]: A Comprehensive Guide
Definition & Meaning
The term "Cognizant Agency" refers to the federal agency, other than the Small Business Administration (SBA), that provides the largest grant or the most significant amount of federal funding to a recipient organization or a sponsoring Small Business Development Center (SBDC). This agency also establishes the indirect cost rate that applies to budgeting and funding across the federal government.
Table of content
Legal Use & context
Cognizant Agency is primarily used in the context of federal funding and grants for small businesses. It plays a crucial role in the administration of SBDCs, which support small business development through various services. Understanding which agency is the cognizant agency can help organizations navigate funding opportunities and compliance requirements. Users can manage related forms or applications through resources like US Legal Forms, which offers templates tailored for small business needs.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
For instance, if a local SBDC receives a majority of its funding from the Department of Commerce, then the Department of Commerce is considered the cognizant agency for that SBDC. This designation affects how the SBDC manages its budget and funding applications.
Comparison with related terms
Term
Definition
Key Differences
Cognizant Agency
The federal agency providing the most funding to an SBDC.
Focuses on funding and grants, not direct business support.
Small Business Administration (SBA)
A federal agency that provides support to small businesses.
SBA is a specific agency, while cognizant agency can be any federal agency.
Common misunderstandings
What to do if this term applies to you
If you are involved with an SBDC or a recipient organization, identify your cognizant agency to understand your funding sources and compliance requirements. You can utilize US Legal Forms to find templates for grant applications and other related documents. If your situation is complex, consider seeking professional legal assistance.
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