Currently, we can only accept projects into the Rust Innovation Lab if they have their own sources of funding and can sustain their own funding requirements. The Rust Foundation will not provide direct financial support to RIL hosted projects from its core funds.
The Rust Foundation will manage and disperse funding to Rust Innovation Lab projects in line with the funding agreements made with individual/organizational donors. Donors are able to specify which project(s) they wish to fund and at what amount, or may opt to fund the RIL as a whole, in which case, we will allocate the funds according to the overall priorities of the Rust Foundation and Rust Project.
We must conduct due diligence on all incoming donations to ensure they align with the organization’s exempt purpose, comply with applicable laws and sanctions, and do not create conflicts of interest or reputational risk. We reserve the right to refuse a donation if we think it isn’t appropriate to accept it.
Project-specific funding will be ringfenced and accounted for separately from any other funding. Project leadership will be provided with regular reports on how much of their funding has been spent and how much remains, to help them plan their activities.
The Rust Foundation deducts an administrative charge of 10% from all incoming funds, to support the overheads involved in supporting RIL projects.