A grant is money that is given by a non-profit organization that will generally be tax exempt. One of the best examples of this organization is the government. However, corporations or foundations may also provide grants to students as well. Grants will generally be given for a project, and the student will be expected to report information about the project to the donor.
Scholarships are monies given by governments and foundations. A scholarship is a form of financial aid that is specifically geared towards students who are attending college or graduate school. It is used as a way of financing their education, and it may pay a part of their education, or it may pay the entire cost of a student's tuition.
Scholarships will require students to meet certain requirements, both before and after they've obtained it. Most of these scholarships will require students to have a minimum GPA, and they may also require them to take a certain number of credit hours within the first 12 months of their schooling.
Angel investors, on the other hand, are usually made up of one individual or a family trust that will invest in a business for partial ownership equity or convertible debt. The term angel investor does not mean free money for your non-profit.
from Exforsys scholarship & grant website.