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It is not necessary for a Canadian not for profit to spend funds within any time limits.
It is however very useful to have recurring donations as they have the potential to provide some certainty of future income for the GrapheneOS Foundation.
Having said that the project has received a small number of large one-off donations which have been instrumental in enabling the project to fund a lot of development and other project expenses. One off donations are also gratefully received, especially if they are large!