The Human Capital Foundation provides grants for one year without indemnity, interference into the work of grant-recipients on their projects, and any revision of property rights concerning results of their work and envisaged in the Grant agreements. The Foundation only controls propriety of spending funds, in particular, taking into account the quality of reports by grant-recipients according to the Grant agreement.
The Foundation finances fundamental and applied research in economics, physics, and informational and computer technologies. Within these programs, the Foundation provides grants of size up to 12 000 US dollars both to individual researchers and to small teams (2-4 persons). In the case of alterations in tax rules and/or tax rates, the size of grants approved initially by the Board of Trustees is not supposed to change.
The Foundation is responsible towards its sponsors for earmarked spending of funds and achieving the goals of financed programs. The same responsibility is required from grant-recipients.
The term of project fulfillment - 12 months
Basing on the above premise, proposals have to meet the following general requirements:
- the project corresponds to the field of research stated by the Foundation;
- the submitted proposal is aimed at original scientific research;
- the results of this research are embodied in new valuable scientific knowledge or/and in practical recommendations, directly based on the obtained results;
- the proposal contains ideas about dissemination of the expected results;
- the required amount of funds is adequate to the planned amount of work and to the number of project participants.
The selection procedure and financing of projects.
- Initially applications are checked for compliance to the formal requirements stated in the "Instruction for writing proposal ";
- On the next stage the proposal is passed for preliminary consideration to the Head of the corresponding Expert council;
- In the case of positive decision by the Head, the proposal is passed over to two independent experts in the field for detailed examination;
- Basing on the conclusion of the experts, the Board of Trustees adopts a decision about financing the proposed project;
- In the case of positive decision the Foundation signs the Grant agreement with grant-recipient and provides 50% of the amount approved in the grant agreement;
- As a result of project fulfillment, the grant-recipient delivers the final report to the Foundation for consideration by two independent experts (see " Project reports " );
- Basing on experts' conclusion, the Board of Trustees adopts a decision about giving the rest amount of the grant.
The schedule of the selection procedure for the period 2008/2009
- August 2008 - announcement about competition
- September 2008 - receipt of proposals
- October 2008 - assessment of proposals
- November 2008 - selection of proposals and signing Grant agreements
- 20 December 2008 - beginning of financing
- August 2009 - announcement about new competition for period 2007-2008 years
- September 2009 - receipt of proposals
- October 2009 - assessment of proposals
- November 2009 - selection of proposals and signing Grant agreements
- 20 December 2009 - beginning of new financing
- December 2009 - assessment of final reports and provision of remaining 50% of grants (pervious competition)
Budget of the project
Description of project expenditures must include:
- the budget (with obligatory statement of the sum of money required, the disposable funds and the full cost of the project);
- comments to the budget (detailed clarification for each expenditure item, and information about other sources of financing);
- the number and the titles of grants received from international foundations, RFFI and other organizations during the last 3 years.