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(August 2014). SAAFoST FOUNDATION Two years ago SAAFoST announced the establishment of the SAAFoST Foundation which is a formally registered Trust regarded.

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Presentation on theme: "(August 2014). SAAFoST FOUNDATION Two years ago SAAFoST announced the establishment of the SAAFoST Foundation which is a formally registered Trust regarded."— Presentation transcript:

1 (August 2014)

2 SAAFoST FOUNDATION Two years ago SAAFoST announced the establishment of the SAAFoST Foundation which is a formally registered Trust regarded as a PBO by SARS. The SAAFoST Foundation has several advantages in that clearer, more transparent accounting can be done of the support given to students studying food science & technology. Members of SAAFoST can see that all SAAFoST surpluses are being channelled to good causes. The selection of bursars is more transparent and donors (either individuals or companies) have a clearer picture of how their donation is being used.

3 OBJECTIVES OF THE FOUNDATION 1.The main objective is to administer all SAAFoST academic prizes, awards, scholarships and bursaries. 2.The Foundation must endeavour to optimise the invested capital in such a way as to generate maximum returns but still meet the cash flow requirements relating to all awards. 3.To increase the number of bursaries that can be accommodated every year. 4.The Foundation must market the services that it offers to the food industry at large in an effort to increase the donor base. 5.In liaison with SAAFoST, the Foundation will make recommendations on the selection criteria and the value of the various awards and bursaries.

4 BOARD OF TRUSTEES Initially the Board of Trustees was made up as follows: David Watson (Chairman)-MD Sunspray Food Ingredients Cliff Sampson-MD Foodcorp Lucia Anelich-Owner Anelich Consulting Janusz Luterek-Snr Ptnr, Hahn & Hahn Regrettably Cliff has tendered his resignation due to work commitments but extremely pleased that Francina Makhoane (Food Safety Initiative Head – CGCSA) has accepted the invitation to become a trustee. Finally, Irene Burke, the SAAFoST Membership Development Officer, assists the Board with the administration of the bursaries, which includes the selection of suitable candidates, liaising with the tertiary institutions and the monitoring of student progress.

5 SAAFoST FOUNDATION BURSARY SCHEME THUS FAR Graduates since inception: TOTAL11 Currently Studying & Anticipated Graduation: TOTAL14

6 SAAFoST FOUNDATION FINANCES CAPITAL BASER4 million 2014 COMMITMENTS: 14 R25,000R350,000 1 Koeppen AwardR 25,000 3 Aubrey Parsons ScholarshipsR 60,000 5 Academic AchievementsR 5,000 TotalR440,000

7 SAAFoST FOUNDATION BURSARY SCHEME & AWARDS TARGETS & COSTS 1. Minimum 5 graduates p.a. 20 R30,000R600, Two Koeppen Awards One for MastersR30,000 One for PhDR30,000R 60, Study Grants for each Institution 8 R20,000R160, Academic Achievements Awards & Other 8 R2,000R16,000 Travel GrantsR14,000R 30,000 TOTALR850,000

8 FOOD INDUSTRY COMPANIES CURRENTLY SPONSORING BURSARIES VIA THE SAAFoST FOUNDATION Maccallum & Associates Foodcorp Hilltop Foods DSM Nutritional Products Sunspray Food Ingredients Swift Silliker

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