Our fund gives financial support to those who otherwise could not afford a proper education leading to professional qualification and fulfilling careers, chiefly in the mining and related sectors.We provide bursaries. You provide commitment and dedication.
We pay for: registration, tuition, exams, textbooks, extra lessons by tutors, meals, accommodation,capacity-building programmes
We also pay for full-time and part-time correspondence courses.
We help as many bursars as possible, depending on fund availability. Usually, about 250 students a year receive support (200 undergraduates and 50 postgraduates).
Historically, our fund assisted members of the National Union of Mineworkers (NUM), dependants, immediate family, retrenched members and retirees..
Those parameters have been significantly widened through partnership funding to cover all those connected to the mining, energy and constructor sectors who wish to use education for personal and family empowerment, but face financial constraints. This is limited to funding received.
South Africans are the principal beneficiaries, but we also help those from the wider region.
Our goal is to enable better education, better opportunities and a better life.
In special cases, we help learners from grades 10 to 12, but we focus mainly on students working toward degrees and other qualifications at universities, colleges and technikons.
We receive funding from various parties. Initially, the Mineworkers Investment Trust provided most of the money, thanks to support from the Mineworkers Investment Company. Today, as a non-profit public benefit organisation (PBO Section 18A), we receive funding from additional sources. We embrace like-minded partners and engage in a wide range of fund-raising activities.
Our PBO status ensures that donors – individuals and organisations – qualify for a tax rebate on the amount donated to the Trust.
As a registered Trust, we have a duty to ensure funds are used effectively and in accordance with our stated mission. Funding may therefore be declined if a course of study falls outside our mandate.
A bursary is valid for the duration of the course of study, but in certain circumstances our trustees can withhold payments to institutions and even terminate the bursary.
For example, a bursary is terminated if a student abandons the course of study within six months of enrolment or fails a level. Funding will continue until the selected course of study is completed as an undergraduate degree or diploma without failing a level. Should a student receive financial aid or a bursary from another source, the Trust will terminate the bursary.
Governance is rigorous. We report fully and regularly to stakeholders and donors. We are a registered Trust under Section 6 (1) of the Trust Property Control Act, 1988 (Act 57 of 1988) and a registered PBO. Our seven board members draw on experience from a wide range of industries. Our financial year-end is 31 December.