diff --git a/finances/constants.py b/finances/constants.py
index b700a6f0432f14d9a2b65203fdd145b9e4fff95e..5c2d63d1a4b7e0a57dec6b4772fb0a2a92d44b55 100644
--- a/finances/constants.py
+++ b/finances/constants.py
@@ -5,14 +5,19 @@ __license__ = "AGPL v3"
 import datetime
 
 
-SUBSIDY_TYPE_GRANT = 'grant'
-SUBSIDY_TYPE_PARTNERAGREEMENT = 'partneragreement'
+SUBSIDY_TYPE_SPONSORSHIPAGREEMENT = 'sponsorshipagreement'
+SUBSIDY_TYPE_INCIDENTALGRANT = 'incidentalgrant'
+SUBSIDY_TYPE_DEVELOPMENTGRANT = 'developmentgrant'
 SUBSIDY_TYPE_COLLABORATION = 'collaborationagreement'
+SUBSIDY_TYPE_DONATION = 'donation'
+
 
 SUBSIDY_TYPES = (
-    (SUBSIDY_TYPE_GRANT, 'Grant'),
-    (SUBSIDY_TYPE_PARTNERAGREEMENT, 'Partner Agreement'),
+    (SUBSIDY_TYPE_SPONSORSHIPAGREEMENT, 'Sponsorship Agreement'),
+    (SUBSIDY_TYPE_INCIDENTALGRANT, 'Incidental Grant'),
+    (SUBSIDY_TYPE_DEVELOPMENTGRANT, 'Development Grant'),
     (SUBSIDY_TYPE_COLLABORATION, 'Collaboration Agreement'),
+    (SUBSIDY_TYPE_DONATION, 'Donation'),
 )
 
 
diff --git a/finances/migrations/0009_auto_20190214_0202.py b/finances/migrations/0009_auto_20190214_0202.py
new file mode 100644
index 0000000000000000000000000000000000000000..753137c47d7d4bf4b836cbb9662715f2b1bece7e
--- /dev/null
+++ b/finances/migrations/0009_auto_20190214_0202.py
@@ -0,0 +1,20 @@
+# -*- coding: utf-8 -*-
+# Generated by Django 1.11.4 on 2019-02-14 01:02
+from __future__ import unicode_literals
+
+from django.db import migrations, models
+
+
+class Migration(migrations.Migration):
+
+    dependencies = [
+        ('finances', '0008_subsidy_amount_publicly_shown'),
+    ]
+
+    operations = [
+        migrations.AlterField(
+            model_name='subsidy',
+            name='subsidy_type',
+            field=models.CharField(choices=[('sponsorshipagreement', 'Sponsorship Agreement'), ('incidentalgrant', 'Incidental Grant'), ('developmentgrant', 'Development Grant'), ('collaborationagreement', 'Collaboration Agreement'), ('donation', 'Donation'), ('grant', 'Grant'), ('partneragreement', 'Partner Agreement')], max_length=256),
+        ),
+    ]
diff --git a/finances/migrations/0010_updatesubsidytypes.py b/finances/migrations/0010_updatesubsidytypes.py
new file mode 100644
index 0000000000000000000000000000000000000000..6088e5d3b1457539d5e65dd70c56b8d7e54aa6f2
--- /dev/null
+++ b/finances/migrations/0010_updatesubsidytypes.py
@@ -0,0 +1,27 @@
+# -*- coding: utf-8 -*-
+# Generated by Django 1.11.4 on 2019-02-14 01:04
+from __future__ import unicode_literals
+
+from django.db import migrations
+
+from finances.constants import SUBSIDY_TYPE_SPONSORSHIPAGREEMENT, SUBSIDY_TYPE_INCIDENTALGRANT
+
+def update_subsidy_types(apps, schema_editor):
+    Subsidy = apps.get_model('finances', 'Subsidy')
+
+    Subsidy.objects.filter(subsidy_type='grant').update(
+        subsidy_type=SUBSIDY_TYPE_INCIDENTALGRANT)
+    Subsidy.objects.filter(subsidy_type='partneragreement').update(
+        subsidy_type=SUBSIDY_TYPE_SPONSORSHIPAGREEMENT)
+
+
+class Migration(migrations.Migration):
+
+    dependencies = [
+        ('finances', '0009_auto_20190214_0202'),
+    ]
+
+    operations = [
+        migrations.RunPython(update_subsidy_types,
+                             reverse_code=migrations.RunPython.noop),
+    ]
diff --git a/finances/migrations/0011_auto_20190214_0224.py b/finances/migrations/0011_auto_20190214_0224.py
new file mode 100644
index 0000000000000000000000000000000000000000..bdbb8e1cde12be795dd4780b36ec7f9a3b56102e
--- /dev/null
+++ b/finances/migrations/0011_auto_20190214_0224.py
@@ -0,0 +1,20 @@
+# -*- coding: utf-8 -*-
+# Generated by Django 1.11.4 on 2019-02-14 01:24
+from __future__ import unicode_literals
+
+from django.db import migrations, models
+
+
+class Migration(migrations.Migration):
+
+    dependencies = [
+        ('finances', '0010_updatesubsidytypes'),
+    ]
+
+    operations = [
+        migrations.AlterField(
+            model_name='subsidy',
+            name='subsidy_type',
+            field=models.CharField(choices=[('sponsorshipagreement', 'Sponsorship Agreement'), ('incidentalgrant', 'Incidental Grant'), ('developmentgrant', 'Development Grant'), ('collaborationagreement', 'Collaboration Agreement'), ('donation', 'Donation')], max_length=256),
+        ),
+    ]
diff --git a/finances/models.py b/finances/models.py
index 7cc8f07076ea1b0b4e15875a0421e7810ae5b841..4c2a85bc179e555a9421e14cb23fb8dda8246fbd 100644
--- a/finances/models.py
+++ b/finances/models.py
@@ -21,7 +21,7 @@ class Subsidy(models.Model):
     to a corresponding Subsidy instance.
 
     This can for example be:
-    - a Partners agreement
+    - a Sponsorship agreement
     - an incidental grant
     - a development grant for a specific purpose
     - a Collaboration Agreement