This article studies algebras $R$ over a simple artinian ring $A$, presented by a quiver and relations and graded by a semigroup $\Sigma$. Suitable semigroups often arise from a presentation of $R$. Throughout, the algebras need not be finite dimensional. The graded $K_0$, along with the $\Sigma$-graded Cartan endomorphisms and Cartan matrices, is examined. It is used to study homological properties. A test is found for finiteness of the global dimension of a monomial algebra in terms of the invertibility of the Hilbert $\Sigma$-series in the associated path incidence ring. The rationality of the $\Sigma$-Euler characteristic, the Hilbert $\Sigma$-series and the Poincar\'e-Betti $\Sigma$-series is studied when $\Sigma$ is torsion-free commutative and $A$ is a division ring. These results are then applied to the classical series. Finally, we find new finite dimensional algebras for which the strong no loops conjecture holds.