The Maritzburg College Foundation NPC (reg: 2011/000883/08) is a Non Profit Company (NPC) registered with Companies and the Intellectual Property Commission (CIPC) . The main objectives of the Foundation are to raise and administer funds, to acquire assets, to grant loans and donations, and to render financial assistance to Maritzburg College.
Conforming with the rules of a NPC, the College Foundation does not have any shareholders, only Directors. A minimum of three directors are required and the NPC is registered with the purpose of not gaining profit for self-gain. Income and donations raised or received are used within the company for the purpose it was registered for and as such the College Foundation either:
The Foundation is approved to issue Sec 18(A) certificates to donors.
Membership to the Foundation is open to Old Boys and Friends of College who pledge financial support to the Foundation and the School.
The College Foundation is not the only stakeholder that performs fundraising for the school, and is also part of the Fund Raising Committee (FRC), which is responsible for setting core fundraising strategies and engaging with the wider College Community. The FRC was established in 2019 to ensure that an agreed “College wide” fundraising approach is adopted and adhered to.
The College Foundation has set up two key structures to facilitate fund raising from donors abroad.
Find out more about these here
Funds raised internationally are remitted back to the College Foundation in South Africa, and the Foundation does not hold any international bank accounts.
The Foundation is managed by a Board of Directors with an elected chairman, who provide the core governance and oversight of the Foundation and it’s financial and operational controls. Board Directors serve for a maximum of three years, and meet regularly to manage and direct the affairs of the Foundation.
The School provides administrative and marketing support to the Foundation via the College Business team, and the Director of College Business is an ex officio member of the Board.