To ensure compliance with its own charitable status, Neuromatch, Inc. will only provide gifts or grants to entities that meet certain eligibility criteria. These criteria differ in the United States and the rest of the world due to our ability to ensure compliance with United States tax laws.
Within the United States, Neuromatch will only give or grant to entities with a 501(c)(3) status.
Outside of the United States, Neuromatch will only give or grant to entities that operate as public colleges or university and that actively perform scientific research or will conduct scientific research with the funds.
Required Information and Acceptance Criteria
United States Charities and Nonprofits
When giving to a 501(c)(3) organization in the United States, Neuromatch, Inc. will verify the 501(c)(3) status through public registry lookup and the grantee will assert, through signed contract (gift or grant agreement) that they are a 501(c)(3) entity.
Charities and Nonprofits in All Other Countries
The preferred method of acceptance criteria is an equivalency determination in which the other entity offers proof, as verified by a US based CPA, that the organization operates as a 501c3 nonprofit equivalent.
In case this is difficult or not possible, then we will utilize a 'verification of use of funds' where money is monitored through careful financial reporting through administration of a grant with restrictions.
In all cases, Neuromatch can only provide gifts or grants to entities and organizations, never to individuals in other countries. Neuromatch may pay salaries, wages, and stipends to individuals in other countries as part of our normal Hiring and Compensation Policy.
Method 1 - Equivalency Determination
When giving to an organization outside of the United States, grantee will provide a set of information that lets Neuromatch, Inc. and a Certified Public Accountant (CPA) acting on behalf of Neuromatch, to ascertain whether the organization is substantially equivalent to a 501(c)(3) organization. To determine this, Neuromatch will gather the following documents or statements from the grantee or have them verified by a third party:
A signed affidavit from an institutional authority with the right to sign contracts
This affidavit will state the following:
Legal Name
Contact Name and Details
Date and Location of Formation
Statement that organization exists for public or charitable purposes and operates as public colleges or university and that actively perform scientific research or will conduct scientific research with the funds.
Governing documents such as bylaws, articles of incorporation, statutes, and/or a constitution or charter
Canada-Only: Canadian organizations registered as a Charity with the Canada Revenue Agency may provide proof of registration instead.
These documents must state or demonstrate the organization's charitable purpose or mission
These documents must not empower the organization to
Allocate more than an insubstantial part of its activities to influencing legislation
Allocate more than an insubstantial part of its activities to purposes other than its charitable purpose
Proof on what happens to the organizations assets upon dissolution (may point to a law or to organization governing documents)
These must demonstrate that they must be given to a similar charitable organization or a government body
List of board members
Method 2 - Grant-Based Required Use of Funds
Neuromatch will enter a grant agreement with the entity. This grant agreement must specify the use of funds, require financial tracking to compliance with that use, and require a financial and outcome based report at the end of of the project, which must happen over a predetermined period of time.
The above documents, or an issued equivalency determination from a third party, will be stored on Neuromatch's servers under the name of the institution along with the signed grant agreement or gift letter.
In the case of a grant agreement, Neuromatch will get documents from the grantee supporting proof of use of funds and a final report that will be stored in the same location.