Funding proceedings policy

Funding proceedings policy:

Projects can be submitted in any written form to the directors’ panel at any time and will be discussed and approved or rejected within a maximum period of 3 months from the date of their reception.

Approval of projects must obtain the consent of the majority of directors (and not less than 5 directors present) but can be submitted to the panel by any member who has received the application.

Examination sessions for project approvals take place regularly at least once a month.

All types of project funding by VA will ALWAYS happen on a reward-by-performance (RBP) fashion so for ANY project to be reviewed at regular intervals and, if deemed by the majority of co-directors not be likely to meet the targets proposed, in the time scale proposed and/or no longer estimated to be cost-effective for serving one or more the scopes of VA as stated at project presentation, the FUNDING WILL BE SUSPENDED.

Projects authors or group of authors will have only ONE CHANCE of APPEAL and will have to represent the entire project again, providing a plan B for his continuation and completion and fitting all requirements again from the above listed points “a” to “m”.

Appeals will be examined by the directors’ panel who may decide to continue to grant the funding or terminating it with no more right of appeal. If funding for a particular project is stopped for good, the remaining money will be moved into other projects sponsored by the foundation, at the choice of the majority of co-directors.

Finally, any approved funding is a PURE CHARITY, meaning there is no money expected to be returned to VA foundation.

However VA foundation has a right to expect the author/authors of the project to display her name as sponsor with all VA contact numbers, to freely advertise her activities and scopes and to encourage donations throughout public events that illustrate the execution of the project or celebrate its completion.