What is American Brain Foundation Crowdfunding?
The American Brain Foundation Crowdfunding site is an online funding platform hosted by the Foundation designed to allow donors to participate in the fight to defeat brain disease by choosing and supporting neuroscience projects that are aiming to find treatments and cures. This allows donors to specifically fund and follow research that is personally important.
Is the American Brain Foundation a nonprofit?
Yes. The American Brain Foundation is a nonprofit charitable foundation.
Are donations tax deductible?
Yes. Donations are made to the American Brain Foundation, a nonprofit entity.
It is the responsibility of the donor to secure an appraisal, environmental review, assessment or remediation (each where required) and independent legal counsel for all gifts to the Foundation.
Who reviews the research projects and how are projects selected?
It is a two stage application process. Applicants first have to submit a Letter of Intent (LOI) that is reviewed by a Scientific Review Panel. If the LOI is approved, the applicant is invited to submit a full application which is reviewed by an Expert Review Panel. Approved projects are then posted to the crowdfunding site.
How can I select a project to fund?
Researcher profiles, project descriptions and budgets are viewable online for your review. You may choose a project based on whatever appeals most to you. Also, if choosing is challenging, we welcome general donations to advance the mission and work of the American Brain Foundation.
How much of my donation will be available to the researcher?
Once a project is fully funded, 100% of all donations (less credit/debit card processing fees) go to the research’s institution to support the research project. The investigator must use the money for the project that they have submitted and described on the Foundation’s crowdfunding platform.
What will happen if the fundraising campaign falls short of the requested amount?
Crowdfunding campaigns for specific projects generally have 90 days to obtain funding. In the event a given project has fundraising shortfall, existing donations for that project will be re-directed to the American Brain Foundation’s General Research Fund, which supports brain disease-related research. Any single donation in excess of $5,000 can be either returned to a donor or directed to a different project at the donor’s written request.
Are there additional benefits from donating?
Yes. You play an important role in cutting-edge research and know that your gift is making a difference. You can expand that role by sharing your interest in a project with others and encouraging them to fund it, too.
How will I know that a project has been completed successfully?
Once a projected has been completed, an announcement and summary of the findings will be posted online.
Does funding a project guarantee a certain outcome?
There are no guarantees as to specific research outcomes—that is the nature of scientific research. That being said, panels of qualified neurologists—members of the American Academy of Neurology—screen and approve every project posted on our site. The projects that are posted are highly qualified, exciting, and offer cutting-edge possibilities. While not all of them will work out, science will advance regardless.
Who owns the rights to research discoveries?
The researchers own the rights, subject to their own agreements with their host institutions. The American Brain Foundation will not claim ownership of any interest in the research, but asks researchers to name the Foundation and larger donors as sponsors.
Does the American Brain Foundation share my contact information?
The American Brain Foundation does not sell any donor information. Specific partner organizations (which are identified on crowdfunding research projects) will receive the name and address of donors so they can continue to provide them with updates on their work. Specific information about a gift, including the amount, will not be disclosed to the partners. If you do not want your information shared with our partners, please contact [email protected]
All gifts of $5,000 or more are reported to the IRS on the Foundation’s tax return and therefore will not be anonymous to the IRS.
I have a question that is not addressed here – who do I contact?
We welcome your questions at any time. You may e-mail your questions to [email protected], or give us a call at 866-770-7570.