Comprehensive financial support is provided to all students. The support covers tuition, accommodation, books, a monthly food allowance, payment for holiday work and any other incidental expenses such as equipment needed. In addition all our students receive comprehensive mentoring support, covering academic and social issues. Mentoring support costs approximately 10% of the annual student cost.
The Umthombo YDF has 6 staff - the Director; the Student & Operations Manager, Graduate & Youth Development Coordinator an Office Administrator, Office Assistant and Researcher. Organisational expenses for 2016 comprised 14% of total expenditure, and include salaries, office rental, travel; telephone, fax and internet services. Mentoring support to students includes the cost of the annual Student Imbizo, in addition to the Student Mentors salary and his travel and accommodation as well as stipends paid to local mentors.
A copy of the 2016/7 Audited Financal Statements can be accessed here. The total budget for 2017 is: R26.5 million.
The finances are audited annually, currently by Victor Fernandes & Co. Both narrative and financial reports are submitted to all funders. An annual narrative and financial report are also submitted to Department of Social Development in order to retain our Public Benefit and Non Profit status.
All donations made by South African's and South African companies are tax deductible through our 18A tax exemption status. Our donors are listed under the heading "Our Thanks"!