Grant Administration
Have or administer an existing JSMF grant? You're in the right place.
Active Grant Policies: Foreign Exchange Rate
Non-U.S. grantee institutions receiving JSMF grants should be aware that Foundation funds are paid in stock based upon the annual amounts from the approved budget. JSMF requires budget amounts be reported in U.S. currency.
Foreign grantee institutions may have individual policies governing exchange rate fluctuations and the annual amounts they allocate to projects. The Foundation gives the grantee institution the option of allowing the Researcher the choice of bearing the benefit or risk due to exchange rate fluctuations. Further, if the Grantee benefits from its original choice of payment and receives an excess of funds over the promised grant amount due to exchange rate fluctuations, the Foundation will not ask that "excess" funds be returned. Also if the Grantee does not receive funds in excess of the grant amount, it may not request any difference in funds be paid by the Foundation. This applies to all JSMF grant amounts paid in any given scheduled payment year during the entire award period.