FINANCING STRUCTURE OF THE SOCIETY
The annual expenses of the Society is in excess of 3.5 million rand. Approximately 60% of the income is received by way of state subsidy. The deficit less the subsidy equates to approximately R1.4 million rand a year or R116 000 a month. This deficit is funded through the various fundraising initiatives. Our Charity Fair is our biggest fundraising venture. However, due to the downturn in the economy and competitive nature of fundraising has resulted in a decline in the amount raised. Our stringent financial management policies has seen the organization build a financial reserve over the years by way of investments in banks. However, we are now needing to dip into these reserves to fund the growing deficit due to the increase in demand for social work services and the cost of providing such services. Our organization notwithstanding the severe financial strain on the budget, continues to provide much needed social welfare services to the most vulnerable in our community, our children and their families.A number of services are funded by the Society itself, which results in the Society operating on a large annual deficit. The continuation of these services is dependent on the generous support of the business sector and the community at large.
First National Bank
Tongaat Child and Family Welfare Society
Account No. : 538 9057 1658
Branch Code : 220329