Part of the function of the Potchefstroom Old Boys Society is to raise funds for the up keep of College and to provide new facilities for the up and coming generations of young South Africans. It is a firm belief that there has to be a bridging gap between government and private schools if equality is to be realised or only the super wealthy who can afford private education will have all the advantages to succeed in South Africa.
Donations and funding:
Inkazimulo – The Shining Light Trust is the Old Boys’ financial arm to raise and manage funding for projects with the sole aim of supporting College. The trustees of the trust are all Old Boys’ society committee members who include a charted accountant and lawyer. All contributions are tax deductible in terms of s18 of the Income Tax Act. The required tax certificates will be issued to all persons and companies that have made contributions.
The Inkazimulo trust is registered with and has been granted Tax Exempt Status with the South African Receiver of Revenue.
All contributors to the Inkazimulo Trust fulfill the definition of “Qualifying Socio-Economic Development Contributions” in term of the B-BBEE Codes of Good Practice, and would therefore count 100% towards a contributor’s Generic Scorecard for B-BBEE purposes.
Please contact us directly for more information around the specific characteristics of the Inkazimulo Trust for B-BBEE purposes.