Frequently Asked Questions

Any time there is something this new and this big; there are naturally a LOT of questions. We welcome your questions and will address them each personally or on this page.
(Please email your questions to questions@deweyfoundation.org)

We have taken every step possible to insure donors have full disclosure of our activities and full confidence that their donations are being used exactly as we represent. If you have any questions that are not answered here, please email it to us.

What is the legal status and organization of The Dewey Foundation?

We are a registered non profit corporation in the State of Texas, in good standing. In addition, we have applied for and have received IRS 501(c) (3) approval as a charitable organization. The IRS form 1023 application and resulting 501 (c) (3) certification letter are available upon request.  The Victory Project is our name for this initiative.

What will happen to the money you raise until an Award is paid?

All monies collected will be held in trust (currently at J.P. Morgan Chase bank and CitiBank) until such time as an Award is certified by our Review Board. The accounts are interest bearing and will grow until an Award is paid. No monies may be disbursed without a certification from our Review Board and the approval of our Board of Directors.

Will you take a pledge rather than a cash donation?

Yes.  Please click on the Donate / Pledge button to read more about this, and to access a Pledge form. The payments of these pledges are conditioned on the success of The Victory Project and the submission of a cure / solution for our Problems.

This means that, true to the concept of The Victory Project, donors would only be expected to fulfill their contribution pledge if and when this unique new approach works.  These can be funds you intend to donate personally when the cure / solution is found, or funds that you pledge to solicit and submit on our behalf.

We still need real donations now to fund the “get the word out” and to review submissions. These expenses, while relatively modest, are real and necessary. You can help with a donation and a pledge.

What will happen to the money if no Award is ever paid?

According to our organizing documents, bylaws and IRS filings, if no Award is paid out; all available funds will be distributed to other 501 (c) (3) charitable organizations in the medical, environmental or technology fields. It is our stated intent that such distributions would go to only the most efficient, well respected organizations as determined by our Board of Directors. So, worst case scenario, if a donor makes a contribution to The Victory Project to help provide Incentive for Innovation, but no Award is paid out; we will then donate the money to a reputable organization pursuing goals consistent with The Victory Project.

It is a win-win for the donors, you get to be a part of giving this new approach a real chance to succeed, and your contribution will go to a more traditional charitable organization if this does not work.

What percentage of donations will go to the cause?

Unlike other charitable organizations, The Victory Project will not be funding research or other activities. We will focus strictly on evaluating submissions and rewarding successful results. We will only pay an Award when an actual cure / solution is certified by our Board. As a result, our expenses will be extraordinarily low compared to other organizations. We anticipate a very small staff, and modest operational expenses totaling less than 1% of monies paid out.

What controls are in place to insure proper governance of The Victory Project / Dewey Foundation?

We understand very well the need to have effective, professional oversight of this new organization.  To that end, we have brought in the most trusted advisors and professional firms possible.

We have retained Ernst & Young as our auditors and accountants. E&Y is the largest public accounting firm in the world, and very well respected. They have immeasurable experience with non profit organizations.

We have retained Fulbright & Jaworski as our legal counsel. Fulbright is a very well respected worldwide law firm with extensive experience and expertise with charitable organizations.

We will publish our annual tax returns on our website so that all of our donors can have full confidence in our activities.

$1 billion is a LOT of money. Where are you going to get it?

The belief we have that there are people who can solve these Problems if provided with clarity of purpose and sufficient motivation, is the same belief we have in ordinary people to donate the funds to provide the critical motivation.

We don’t need a billion dollars; what we DO need is $10, $20, $50 or $100 donations from everyone who feels like we do… that some problems are so BIG that we need to take a new approach.
We also needs pledges from people who believe it will work but want to be absolutely sure this new approach works before contributing.

And while a billion dollars seems like a lot to most people, in the grand scheme, it is not a lot. It is only 3 hours of spending for the U.S. government. Would you trade 3 hours of government for a cure for breast cancer? It is .0036% of total charitable giving in the U.S., a relatively tiny amount of the more than $280 Billion given in the U.S. every year.

If every person in the U.S. whose family has been affected by breast cancer gave $50, we would have more than half a billion dollars.

There is strength in numbers; any donation of any amount will help. We are receiving donations, both large and small from all across the U.S. and around the world.

Again, we understand the issues surrounding launching this ambitious project; and we want to make you comfortable donating to this unique effort. If you have any questions or comments, please do not hesitate to contact us.