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SAAFoST FOUNDATION

SAAFoST FOUNDATION. (August 2014). 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.

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SAAFoST FOUNDATION

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  1. SAAFoST FOUNDATION (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 • The main objective is to administer all SAAFoST academic prizes, awards, scholarships and bursaries. • 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. • To increase the number of bursaries that can be accommodated every year. • The Foundation must market the services that it offers to the food industry at large in an effort to increase the donor base. • 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 AnelichConsulting JanuszLuterek - SnrPtnr, Hahn & Hahn Regrettably Cliff has tendered his resignation due to work commitments but extremely pleased that FrancinaMakhoane (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 FOUNDATIONBURSARY SCHEME THUS FAR Graduates since inception: 2010 1 2011 1 2012 4 2013 5 TOTAL11 Currently Studying & Anticipated Graduation: 2014 4 2015 3 2016 2 2017 5 TOTAL14

  6. SAAFoST FOUNDATIONFINANCES CAPITAL BASE R4 million 2014 COMMITMENTS: • 14 Bursaries @ R25,000 R350,000 • 1 Koeppen Award R 25,000 • 3 Aubrey Parsons Scholarships R 60,000 • 5 Academic Achievements R 5,000 Total R440,000

  7. SAAFoST FOUNDATIONBURSARY SCHEME & AWARDSTARGETS & COSTS 1. Minimum 5 graduates p.a. 20 Bursaries @ R30,000 R600,000 2. Two Koeppen Awards One for Masters R30,000 One for PhD R30,000 R 60,000 3. Study Grants for each Institution 8 Grants @ R20,000 R160,000 4. Academic Achievements Awards & Other 8 Awards @ R2,000 R16,000 Travel Grants R14,000R 30,000 TOTAL R850,000

  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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