How to do good, better.
Citadel offers specialised advice and services to individuals who are looking for strategic guidance and planning in the giving of their wealth. While spontaneous and ad hoc charity is important, we believe that a more structured approach is necessary to create sustainable long-term change.
The Citadel Talmar Impact Foundation (CTIF) is a non-profit partnership. Citadel and Talmar, an impact development organisation, have combined their talents with the long-term in mind. The foundation advocates the principle of venture philanthropy, where initial donors to social development programmes unlock exponential growth and sustainable returns. The ambition is to break the habit of charitable dependency, and strengthen the South African economy for all its citizens. The CTIF operates with an entrepreneurial sensibility, and according to strict fiduciary guidelines.
The Northern Cape town of Onseepkans is the site of the current flagship project of the CTIF. Some 27 small farmers and entrepreneurs have combined their land into one resource – growing grapes that are now exported as raisins internationally. The first year’s yield was worth R162 000 – then in year two, this increased to over R5 million. While this is certainly a strong performance, Onseepkans still requires some R12 million to cover technical assistance, organisational management, and skills development. True sustainability is within touching distance.
Venture philanthropy in action
The Citadel Philanthropy Foundation
The Citadel Philanthropy Foundation (CPF) is the first donor-advised fund of its kind in South Africa. It enables individuals and corporates to donate money to the foundation, and make recommendations on how that money is invested and distributed. It is effectively a collective foundation (one foundation with many sub-accounts).
As a donor you will be able to personalise your account and, if desired, make grants in your account’s name.
The CPF is a good alternative to a private foundation. It offers all the benefits, but with lower associated costs and zero administration. Donations to the CPF are immediately eligible for tax benefits; the foundation also facilitates all tax incentives and B-BBEE points.
- Facilitation, funding plans, and advice
- Private foundation setup, registration, and tax exemption applications
- Bank and investment accounts
- Foundation administration, accounting and reporting
- Corporate socio-economic development structuring
- Capital management
- Beneficiary due diligence, confidential reviews, and grant administration
- Networking, information sharing, and bequest administration
The Citadel Philanthropy Foundation Trust is a registered public benefit organisation in terms of the Income Tax Act (PBO registration number 930 042 339).