Challenge grants: frightening, frustrating, and fruitful.

Purpose - The purpose of this paper is to provide an overview of the challenges and benefits of a challenge grant. Design/methodology/approach - The paper explains the University of Waterloo Library's first-hand experiences in seeking and acquiring a challenge grant from the Kresge Foundation. Findings - The challenge grant can provide libraries with a unique opportunity to raise their profiles, enlist the support of key leaders, generate excitement about their organizations' work and future plans, and raise additional funds. Originality/value - The paper provides practical suggestions that offer incentive and encouragement to seek a challenge grant due to the many benefits that accrue to a library development program. [ABSTRACT FROM AUTHOR]