Financial Management

Financial goals and stability

Sir Lowry’s Pass Community Empowerment Trust has been successfully fundraising for the last three years. It is currently being run as a public benefit organization, all of the staff are volunteers.

In the short-term we are proposing to link with fundraisers, cooperate business partners and individuals who would like to support the trust or to sponsor a number of children at R924 per annum.  This could be one child, ten, a hundred or more per annum.

In the long-term we would like to raise regular funding and sustain long standing partnerships.

We accept that donations and sponsorship will be reviewed annually based on performance and achievement of the goals set by the programme in conjunction with the school.

Budget from January 2014

Our program has currently 625 learners who receive two educational modules per week.

Our current budget for the program is therefore R96 250. We are also talking to DR GJ Joubert in Rusthof, who wishes to start with a similar program for their 200 grade 1 learners. That will increase the financial requirement to R127 070.

We have currently a monthly shortfall between R10 000 and R50 000.

We request people and businesses to support us, to reduce this monthly deficit.

Banking details  

Account Name: Sir Lowry’s Pass Community Empowerment Project
Account No: 72 472 421
Bank: Standard Bank of South Africa Ltd
Branch: Helderberg
Branch code: 03 30 12
SWIFT address: SBZA ZA JJ
Reference SLP Literacy

SIGNATORIES:  Two Trustees signatures are required for all cheques to be paid.

TAXATION EXEMPTION:  The Sir Lowry’s Pass Community Empowerment Project has been approved for purposes of section 18A(1)(a) of the Tax Act and donations to the organisation will be tax deductible in the hands of the donors in terms of and subject to the limitations prescribed in the section 18A of the Act.

ACCOUNTANT:                                  Emma Pardoe

Sir Lowry’s Pass Community Empowerment Project has a part-time bookkeeper who is responsible for monthly management reports including income and expenditure statements which are submitted to the Trustees at their monthly meetings. There is also an accountant who produces the Annual Financial Statements.

Contact Details: Emma Pardoe CA (SA)
P O Box 618,
Somerset West
7129
(021) 851 4159
AUDITORS: Jackson Neethling
Contact Details: Canal Edge One,
Tyger Waterfront
Tyger Valley
(021) 914 1610