South Africa’s affirmative action policies were introduced with the new political dispensation in 1994 for the sole purpose of redressing past injustices. These policies have had a positive impact on how corporate social responsibility(CSR) is defined and how businesses conduct themselves in respect of their employees, surrounding communities and the South African government. The Department of Trade and Industry's black economic empowerment(BEE) scorecard with it's seven components, namely, socio economic development, BEE ownership and management, skills development,employment equity, preferential procurement and enterprise development forms part of the CSR agenda in South Africa. This agenda informs how corporate resources are channelled in the form of corporate social investment (CSI). South African businesses now have philanthropy factored into their strategic plans as a business initiative which aims to address disparity and aid socio- economic development. The BEE scorecard of individual businesses indicates the level of CSI and the commitment on the part of businesses to participate in social transformation.
According to Trialogue's 12th handbook in 2008/2009 the corporate social investment spend of companies in South Africa was R5.1 billion. www.trialogue.co.za .Trialogue adds that this figure has grown despite the recession. Given the regulations implemented by the South African government businesses have been encouraged to find different ways to invest in social causes and commit to their role in society. Symbiotic relations have developed between the non profit sector and corporates in South Africa to alleviate the plight of disadvantaged people. Many new avenues have opened up for businesses to counter the social deficits of the South African government.
The Trust's purpose is to educate previously disadvantaged individuals. The Trust offers bursaries to previously disadvantaged children and teacher interns. The Trust improves educational facilities in communities and assists Thomas More College families in the case of short term need. 75% of the Trust’s income is spent on the needs of black South African citizens.
The Thomas More Education Trust is an initiative of Thomas More College and works in partnership with the College. The Trust is a non-profit organization and is registered separately from Thomas More College as a public benefit organization (PBO). The Trust runs independently of the College.
Donations to The Thomas More Education Trust entitle donors to a tax deduction and Broad Based Black Economic Empowerment (BBBEE) points in the socio-economic development category. Donors are issued with a beneficiary assessment certificate and a donation certificate in terms of section 18A of the Income Tax Act.
Trustees
The first trustees are Philip Lanz, Jeremy John Redding, Otto Hirzel, Vuyo Lindelwe Mthethwa, Rashid Abdul Kader Vahed and Gordon Henry Burnett. According to the Trust Deed there will never be less than three or more than seven trustees. The trustees manage the trust under the guidance of an elected chairperson. The Trust Fund is controlled by the trustees and managed by an elected treasurer.
The Trust Deed Point 4.1 of the Trust Deed states that the object(s) of the Trust is "to provide funds or other resources for the training and education and the provision of educational opportunities for natural persons particularly those previously disadvantaged persons and communities who have been denied the opportunity to quality education within Kwazulu-Natal or within the Republic of South Africa.."
South Africa’s affirmative action policies were introduced with the new political dispensation in 1994 for the sole purpose of redressing past injustices. These policies have had a positive impact on how corporate social responsibility(CSR) is defined and how businesses conduct themselves in respect of their employees, surrounding communities and the South African government. The Department of Trade and Industry's black economic empowerment(BEE) scorecard with it's seven components, namely, socio economic development, BEE ownership and management, skills development,employment equity, preferential procurement and enterprise development forms part of the CSR agenda in South Africa. This agenda informs how corporate resources are channelled in the form of corporate social investment (CSI). South African businesses now have philanthropy factored into their strategic plans as a business initiative which aims to address disparity and aid socio- economic development. The BEE scorecard of individual businesses indicates the level of CSI and the commitment on the part of businesses to participate in social transformation.
According to Trialogue's 12th handbook in 2008/2009 the corporate social investment spend of companies in South Africa was R5.1 billion. www.trialogue.co.za .Trialogue adds that this figure has grown despite the recession. Given the regulations implemented by the South African government businesses have been encouraged to find different ways to invest in social causes and commit to their role in society. Symbiotic relations have developed between the non profit sector and corporates in South Africa to alleviate the plight of disadvantaged people. Many new avenues have opened up for businesses to counter the social deficits of the South African government.
The Trust's purpose is to educate previously disadvantaged individuals. The Trust offers bursaries to previously disadvantaged children and teacher interns. The Trust improves educational facilities in communities and assists Thomas More College families in the case of short term need. 75% of the Trust’s income is spent on the needs of black South African citizens.
The Thomas More Education Trust is an initiative of Thomas More College and works in partnership with the College. The Trust is a non-profit organization and is registered separately from Thomas More College as a public benefit organization (PBO). The Trust runs independently of the College.
Donations to The Thomas More Education Trust entitle donors to a tax deduction and Broad Based Black Economic Empowerment (BBBEE) points in the socio-economic development category. Donors are issued with a beneficiary assessment certificate and a donation certificate in terms of section 18A of the Income Tax Act.
Trustees
The first trustees are Philip Lanz, Jeremy John Redding, Otto Hirzel, Vuyo Lindelwe Mthethwa, Rashid Abdul Kader Vahed and Gordon Henry Burnett. According to the Trust Deed there will never be less than three or more than seven trustees. The trustees manage the trust under the guidance of an elected chairperson. The Trust Fund is controlled by the trustees and managed by an elected treasurer.
The Trust Deed Point 4.1 of the Trust Deed states that the object(s) of the Trust is "to provide funds or other resources for the training and education and the provision of educational opportunities for natural persons particularly those previously disadvantaged persons and communities who have been denied the opportunity to quality education within Kwazulu-Natal or within the Republic of South Africa.."