PROTEC is registered as an educational fund in terms of Section 18A (3) of the Income Tax Act of 1962. (Reg. 18/9/2/11/262) and as a non-profit organisation in terms of the Non-Profit Organisation Act of 1997 (Reg. 001-335). All grants and donations are tax exempt. We also have SACE accreditation for our Teacher Development Programme
The Finance and Audit Committee receives its mandate from the Board and comprises three non-executive directors and one executive. The committee meets six times per year and establishes the financial framework, monitors adherence and approves annual budgets and monitors performance over the approved budgets.
The financial systems are geared to ensure that all project receipts and payments are ring-fenced and are reported separately. This ensures that projects are not cross-subsidised and every cent is spent and accounted for as per the proposal/ budget presented to the funder. Apart from the 2-monthly reviews undertaken by the Finance and Audit Committee, an external audit is undertaken annually.
PROTEC has received a clean audit annually since 2010.
PROTEC is a leading South African non-profit organisation, operating nationally in the field of STEM education since 1982.
Our donors make the difference. Their partnership with an NPO with a proven track record means that their contributions impact the lives of our future leaders.