An archived grant will not appear on the active grants list unless you check "Show archived" in the filters, but will still appear on your dashboard if grantee reports have been submitted or are due/overdue.
Select the “Projects” module on your dashboard.
Select the number of the appropriate project from the list.
Select the “Archive” button and confirm by selecting “Yes” in the proceeding dialog box to archive the grant.
Once Archived, a grant can be resurrected by clicking the Unarchive button.