TRAC is funded by external donors from industry and business. We remain grateful for the support of our financial partners. Their donations made it possible for TRAC to continue its operations.
Donors usually select the areas in which they require TRAC to operate. Normally these areas coincide with locations where the donors have projects, plants, or factories. The funding donated to TRAC is then utilised to uplift the communities in the surrounding areas. This implies that the TRAC intervention is brought to the beneficiaries from socio-economic development funds, at no cost to the beneficiaries.
Any donations made to TRAC are deposited directly into the account of Stellenbosch University. From there it is channeled to the TRAC cost centre in the Stellenbosch University financial system. The consolidated annual financial statements of Stellenbosch University are audited by Price Waterhouse Coopers in terms of International Auditing Standards. The income and expenditure relating to TRAC are included in the various line items in these audited consolidated annual financial statements.
When donations are made to TRAC, the normal process is that the legal aspects of the donation are captured in an agreement between the donor and SU. Donors receive a Section 18A tax redemption certificate for funds donated to TRAC.
The current donors of TRAC are: