Use of Donations

All received donations are allocated for the purposes of the foundation "Organic Synthesis Institute Fund" (hereinafter referred to as LIOS Fund), aimed at promoting excellence in research and higher education in Latvia in line with societal needs and market demands. The objectives include supporting outstanding scientific research and providing scholarships, allowances, and grants to students and research staff for both education and qualification enhancement and scientific activities. If a specific purpose for the donation is not indicated, the respective donation is considered a general one, utilized to achieve the goals outlined in the foundation's statutes. When a donor specifies a particular purpose for the donation, it is allocated to a specific project or event carried out by LIOS Fund that aligns with the objectives stated in the foundation's statutes.

Donor's Rights

• Specify the purpose for which the donation is made

• Be informed about LIOS Fund's goals and intentions for using the donation

• Ensure that the funds will be used directly for the intended purposes

• Verify the use of their donation in the organization's accounting

• Review the financial and operational reports of the organization

• Receive answers to questions regarding the use of the donation

• In case of donor consent, receive an appropriate publicly expressed acknowledgement

Foundation Status and Tax Benefits

As of now, the LIOS Fund does not have the status of a public benefit organization according to the Law on Public Benefit Organizations. However, all necessary actions are being taken to acquire this status, and the latest information on the progress will be posted on the OSI Fund website.