The 100MillionforCollege Campaign is an historic campaign to create a R100million endowment fund for the school. Endowment funds are critical sources of permanent, long-term funding for successful educational institutions the world over. They empower vision and commitments far into the future, with the resources to meet those commitments. A strong endowment provides financial depth and forms the foundation of confident planning.
The capital raised through the 100MillionforCollege Campaign will be preserved intact, with the income generated used to meet pressing financial needs such as bursaries and to improve the school’s extensive infrastructure.
Maritzburg College is headed towards its third century of existence, the security of the school’s financial footing is paramount to its future. This will ensure the ongoing reputation of our great school, providing facilities and education that meet the needs of modern men as these needs evolve. In so doing, this preserves our proud College legacy long into the future.
The 100MillionforCollege Campaign will be the focal point for the school’s fundraising activities over the coming years. These five years will come to define the future – and every contribution makes a difference.
Every Contribution to the 100MillionforCollege Campaign Is Giving for Greatness
Maritzburg College has a strong legacy as a thriving, diverse, and truly exceptional institution – one that has evolved in a country that has changed enormously since its founding more than 150 years ago. It has made significant strides academically over the past decade and is currently the top performing public boys’ school in the country outside of the Western Cape. It also offers a diverse range of sports and a rich cultural programme, and College features prominently on the honour role for these pursuits.
Maintaining this outstanding record of achievement requires the school to overcome significant financial challenges. Its annual government subsidy covers only a fraction of the school’s operating budget. As such, it has become increasingly dependent on fees charged to parents.
The result has been steep inflation in the cost of a College education, which threatens to put the life-changing opportunity to attend the school out of reach for many. One of the school’s key strengths over the years has been its ability to bring in boys from varying socio-economic backgrounds. This is now at risk.
Another critical issue is the fact that the school does not have sufficient funds for capital projects and the tight operating budget leaves little room for maintaining and improving the school’s extensive infrastructure. The quality of the school’s facilities is integral to College’s overall offering. Without a reliable long-term funding source, it will increasingly come under threat.
Born Out of College Innovation
100MillionforCollege Makes a Difference by Being Different
There are several distinctive features of the campaign that will help drive its success:
The campaign will be a global one, drawing in Old Collegians from around the world. It presents a unique opportunity for the school to reconnect with its widely dispersed alumni base.
There are two ways to make a contribution – via EFT or by completing and returning the pledge form below. Upon receipt of your pledge, we will contact you to confirm your commitment and the arranged payment terms. Donations can also be made online for those donating from the UK or USA. Alternatively, you are welcome to contact us directly with your details and we will get in touch to discuss your commitment.
email: admin@collegefoundation.co.za
tel: +27 (0) 33 342 9376
The funds will be raised via the Maritzburg College Foundation and invested through the Maritzburg College and Old Boys’ Memorial Trust.
An Investment Policy Statement will be developed, including a fund investment strategy and the percentage of income that can be drawn each year. The process around how funding requests to the Trust will be made will be independently monitored. Legacy Donor representatives will be added as Trustees and will have specific approval rights in this regard.
Tax Deductibility
Any prospective donation tax benefit accruing to the donor will be regulated by the country in which the donation is made. The Maritzburg College Foundation is a registered Public Benefit Organisation (PBO) with the South African Revenue Service (SARS) and enjoys S18A status, which permits the issuing of donation tax certificates to South African taxpayers.
The Maritzburg College Foundation is also registered in the US (through Charities Aid Foundation of America) and the UK (through UK Fund for Charities), which enables taxpayers in these countries to make tax deductible donations to the Maritzburg College Foundation.