A Foundation of a benevolent charitable nature to raise funds for “Training and Educational Enrichment, Life-Skills, Youth Development, Poverty Relief, Health Care Assistance, Community Development and Fundraising.”
[These as outlined in our Certificate CoR 14.3 issued by the Companies and Intellectual Property Commission [CIPC] dated 11th September 2013.
NPC Registration No: 1997/021213/08
PBC No: 032-247NPO
Registration No: PBO – 18/11/13/4259
To Create a Positive Life Experience
What make Heritage foundation different?
Practical and inspirational instruction for an improved prosperous life.
Meaningful attitude towards health and fitness through cycling as a sport, recreation and a mode of transport.
Meaningful education, mentoring, lifestyle and leadership development to all through project partnership.
Meaningful community through touch, teach and training for effective living.
Assess and meet physical needs to bring lasting change to peoples lives.
Develop people to be leaders in life and to train people in business to create wealth by improving student knowledge and understanding of healthy business practices
Tax Deductible donations
Heritage Foundation has Section 18A approval granted by the TEU, and use the donations to fund specific strategic and impactful, approved public benefit activities.
Our obligations and accountability to SARS include:
1. Correct issue of tax deduction certificates.
2. We are to function within Section 18A of the Act.
3. Submission of Annual Returns.
4. Statements of full disclosure.
5. Fund usage is restricted to SA.
6. Tax deduction receipts may only be issued for bona fide donations [See Annexure A to the SARS letter]
Important information to read before making a donation:
We shall implement the following;
Generate an electronic receipt by way of QuickBooks or equivalent.
[Please note that the application document for this status comprises a 42 page detail, a copy of which is in our possession, should it be needed].
The following extracts from SARS letter of approval must at all times form the criteria for the function of the Foundation.
Application for exemption from tax as PBO as set out in the Tax Act No 58 of 1962.
Donations made to or by this PBO are exempt from Donations Tax in terms of Section 56(1)[h] of the Act
1. In order to maintain exemption status the following criteria apply;
Tax-deductible receipts must reflect the following information;
- PBO Reference number
- Date of receipt of donation
- Name and address of beneficiary
- Name and address of donor
- Amount or nature or donation, if not in cash
- Certification of the exclusive use or activity under 18A
- Year in which the donation was received
2. Requirements for submission of annual Income Tax Returns
Registration online and submission of IT12El
3. Under Section 18A annual return submission must include a statement with supporting documents of outlining particulars of all receipts issued in respect of donations and how these funds were spent.
4. As such donor funds may only be used in South Africa; an audit certificate must be submitted with the annual return to verify the fact.
5. Tax deductible receipts may only be issued for bona fide donations, defined as, voluntary gratuitous gifts, without any reciprocal obligations to the donor, free of any conditions that may lead to personal benefit to the donor.
6. This tax exemption is subject to annual review upon receipt of annual return.
Here are some examples that do not constitute bona fide donations under Section 18A.
- Donation of services rendered by a professional
- Any amount in cash paid for attending a fundraising event
- Any amount paid for auctioning of goods, ie memorabilia
- Any amount paid for raffle or lottery tickets
- Any amount paid for school fees
- The value of free rental
- Amounts in respect of any debt
Heritage Foundation Bank Details:
Name: Heritage Foundation
Bank: Standard Bank
Branch Code: 051001 [EFT] or 001106 [Direct Deposits]
Account No: 012 690 456
Please specify below your desired allocation/use of donation. If not specific state as “General”. Please also make sure you use a matching reference in your payment reference (IMPORTANT).
Your seed matters
Your seed helps us empower people in all walks of life to take their rightful place in society and become meaningful influencers to and for the nation of South Africa.