ASSA Development Trust
Actuarial Society Development Trust
The objectives have been set bearing in mind that the Trust meets the requirements of a Public Benefit Organization and ensures the tax deductibility of donations in the hands of donors.
The objectives are to:
- Provide grants to universities in order to support their teaching and research activities relating to actuarial science, and to assist in the recruiting and retention of competent academics to such programs.
- Provide bursaries for worthy students.
- Fund research relating to actuarial knowledge in particular and broader matters of public interest related to the profession and its activities.
- Further other activities supporting the general objectives of the Trust.
The final decision with regard to the quantum of support to any program, research, or bursary provided by the Trust remains with the Trustees. To date, it has not been possible for the Trust to provide support to individuals, due to the demands on universities.
The Trust contains specific clauses that ensure compliance with the requirements for a Public Benefit Organisation (PBO). Contributions to the Trust should therefore be tax deductible, subject to usual limits, in the hands of donors, both corporate and individual. The Trust has been registered with SARS as a PBO (reference number 930035093) and in terms of S18(A) of the Income Tax Act.
The Trust is in the process of exploring ways to improve its BEE standing. It is certified for SED purposes annually.
Contributors to the trust
Contributions by the following donors are acknowledged with gratitude. The Trustees are working to expand the base of contributors.
- Actuarial Society of South Africa
- ABSA Bank
- Discovery Holdings
- MMI Holdings
- Old Mutual
- General Reinsurance Africa
- Liberty Holdings
- Suiderland Development Corporation
- Standard General Insurance
- Swiss Re
- Cadiant Partners
- Regent Life
- Standard Bank
- Pravin Burra
- Garth Griffin
- Ivan Basson
- Andrew Birrell
- David Jewell
- Emil Boeke
- Shivani Ranchod
- Nigel Bowman
- Tamar Lewis
Desmond Smith (Chair)