FINANCIAL INTEGRITY

Founding Chairman, Francois Pienaar, and the Members of the Executive Committee share a passionate commitment to MAD Leadership Foundation’s reputation for excellence and the highest financial integrity. This is monitored through the Finance Committee. An independent auditor firm conducts a full audit of MAD Leadership Foundation’s financial statements annually. Audits are conducted in accordance with Statements of South African Auditing Standards. The standards require that the audit is planned and performed in such a way that reasonable assurance can be obtained that the financial statements are free of material mis-statement.

EXECUTIVE COMMITTEE

The Executive Committee consists of high profile respected business leaders, which ensures that MAD Leadership Foundation’s policies and procedures comply with the relevant statutory policies. These policies relate to the duties of the full Executive Committee and to the delegation of authority to its sub-committees and the Chief Executive Officer (CEO).

TAX BENEFIT

MAD Leadership Foundation is a registered Public Benefit Organisation in terms of section 30 of the Income Tax Act 58 of 1962; therefore donations to the organisation are exempt from donations tax in terms of section 56(1)(h) of the Act. Section 18A(1) of the Act provides for a deduction in terms of donations made in the form of cash or certain types of assets made, inter alia, to PBOs approved under section 30(1), provided that the donor is in possession of a valid receipt and that the donation does not exceed 10% of taxable income.

Donations that are allowed and for which MAD Leadership Foundation can issue an 18A certificate are those that comply with the following:

• Donations need to be unencumbered (unconditional) to further the objectives of MAD Leadership Foundation.
• There must be no contractual obligations that need to be fulfilled and no deliverables to be met in return for the donation.
• MAD Leadership Foundation must be free to use its discretion as to how the donation will be utilised.

NON-PROFIT COMPANY STATUS

South Africa:
Make A Difference Leadership Foundation NPC. Registration no.: 2003/009386/08
Non-Profit Organisation (NPO) ref. no.: 52-838. Public Benefit Organisation (PBO)/Section 18(A) ref. no.: 930009667.

United Kingdom:
Make A Difference Leadership Foundation. Registration no.: 1126724

United States of America:
The MAD Bunch USA. INC. EIN: 27-0882749
Donations to a non-profit 501(c) (3) corporation are tax deductible for U.S. Federal Income Tax purposes.