Milestones

A milestone is the planned completion of a significant deliverable in your project. Milestones demonstrate progress and serve as the basis for fund release. Funds are only released upon satisfactory completion of each milestone.

Important: The Socious Fund team retains final discretion over the approval, modification, and structure of all milestones. Milestones are derived from the proposal's Key Deliverables and Goals as submitted during the application process.

How Milestones Work

  1. When your project is approved for funding, you will create a Statement of Milestones (SoM) based on the Key Deliverables and Goals outlined in your proposal.
  2. The Socious Fund team reviews and approves the milestones. The team may request changes to ensure milestones are clearly defined, measurable, and aligned with the project's stated goals.
  3. As you complete each milestone, you submit Proof of Achievement (PoA) — evidence demonstrating successful delivery.
  4. Upon review and approval of each milestone's proof, the corresponding portion of funds is released.

Minimum Number of Milestones

The minimum number of milestones depends on the total funding amount your project receives. All projects must include a final milestone in addition to the minimum milestone count.

Funding Amount Minimum Milestones Total (Including Final)
Up to $5,000 2 3
$5,001 – $25,000 3 4
$25,001 – $100,000 4 5
Over $100,000 5 6

Statement of Milestones (SoM)

Your Statement of Milestones is submitted after your project is approved. It must be based on the Key Deliverables and Goals from your proposal. Each milestone in the SoM must include:

  • Title — A clear, concise name for the milestone
  • Description — What will be delivered and why it matters to the project's goals
  • Acceptance Criteria — Specific, measurable criteria that define successful completion. Vague criteria such as "make progress" or "continue development" are not acceptable.
  • Evidence of Completion — How you intend to demonstrate the milestone is complete (e.g., links to deployed software, published reports, event documentation, media coverage)
  • Expected Completion Date — A realistic target date for delivery
  • Cost — The portion of total funding allocated to this milestone

Your Statement of Milestones will be made publicly available. The community and the Socious Fund team will use it to track your project's progress.

Milestone Cost Allocation

  • The sum of all milestone costs must equal your total approved funding amount.
  • Costs should be distributed proportionally to the work involved in each milestone.
  • The final milestone payment will not be released until all closeout requirements are met.

Proof of Achievement (PoA)

When you have completed a milestone and wish to receive the corresponding funds, you must submit clear, verifiable evidence of completion. Examples of acceptable proof include:

  • Links to deployed applications, published code repositories, or released products
  • Published reports, research papers, or documentation
  • Event photos, recordings, attendance records, or media coverage
  • Testimonials, user metrics, or third-party verification
  • Financial records or receipts where applicable

The evidence you provide must clearly correspond to the acceptance criteria defined in your Statement of Milestones. The Socious Fund team reviews all submitted proof before approving fund release.

Final Milestone

Every project must include a final milestone. The final milestone must include:

  • Project Closeout Report — A summary of what was delivered, outcomes achieved, lessons learned, and how the project's Key Deliverables and Goals were met
  • Impact Report — Measurable impact data demonstrating the project's social or environmental outcomes (see Impact Evaluation)
  • Financial Summary — An accounting of how funds were allocated across milestones

The closeout report and impact data will be made available to the community and to matching pool contributors.

Milestone Review & Approval

The Socious Fund team reviews milestone submissions. You should expect the review process to take up to 2 weeks from submission. During review:

  • The team may request additional evidence or clarification
  • If the proof does not meet the acceptance criteria, the milestone will be returned with feedback
  • Funds are released only after the milestone is approved

Modifying Milestones

If your project's scope or timeline changes, you may request milestone modifications by contacting the Socious Fund team. Modifications require team approval and must remain aligned with the original Key Deliverables and Goals of your proposal.

The Socious Fund team has final discretion over whether modifications are approved.

Guidelines for Strong Milestones

  • Be specific. "Launch beta version with 3 core features" is better than "develop product."
  • Make them measurable. Each milestone should have clear pass/fail criteria.
  • Tie them to your proposal. Milestones must map directly to the Key Deliverables and Goals in your approved application.
  • Space them evenly. Aim for roughly equal intervals between milestones to ensure steady progress reporting.
  • Budget realistically. Allocate costs proportionally to the work required, not equally across milestones.
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