UYDF provides comprehensive financial support 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. This also includes the cost of the Student Imbizo, the mentor’s salary, as well as travel, accommodation and stipends paid to local mentors.
The UYDF has five staff members - the Director, the Student Manager, Graduate & Youth Development Coordinator, an Office Administrator and an Office Assistant. Organisational expenses for 2018 comprised 18% of the total expenditure, including salaries, office rental, bookkeeping, audit fees, travel, and telephone and internet services.
A copy of the 2018 Audited Financial Statements can be accessed here. The total budget for 2019 has reduced to R9.1 million as the National Student Financial Aid Scheme (NSFAS) has committed to providing financial support to all 236 of our students. The total cost of supporting students in 2019 is calculated at R32.6 million.
Our finances are audited annually, currently by Victor Fernandes & Co. Both narrative and financial reports are submitted to all of our funders. Our annual financial reports are also submitted to the Department of Social Development in order for us to retain our Public Benefit and Non-Profit status. All donations made by South Africans and local companies are tax deductible through our 18A tax exemption status.
For more information on our donors, click here.