Terms and Conditions
SASIX is a GreaterGood South Africa Trust initiative.
This website (of which these terms and conditions form a part) (hereafter referred to as "the website") is operated and owned by the GreaterGood South Africa Trust (hereafter referred to as "the Trust").
The GreaterGood South Africa Trust ("the Trust") is an independent, registered (IT3334/2004) Non Profit (040-346 NPO) Public Benefit Organisation (PBO 930014027) with Section 18A status (TEU Reference: EVZ0064/11/05) established to increase the effectiveness of charitable giving by providing useful information, objective guidance and advantageous ways to give. The Trust is eligible to receive tax-deductible charitable contributions under Section 18A.
The majority of the members of the Trust's Board of Directors are independent of the Trust. This Board has full discretion over the Trust and its activities. Donors to the Trust are subject to the terms and conditions of the Trust Deed. The Trust reserves the right to modify the terms and conditions of its Deed of Trust at any time.
The GreaterGood South Africa Trust is registered in South Africa. The address for the Trust is Lasswade Farm, Spanschemat River Road, Constantia. If you have any questions or need additional information, you may call the Trust at (021) 794-0580.
In using the website, you agree to these terms and conditions of use, which include our Privacy Policy.
Content
The website is intended to provide general information regarding social investment projects undertaken by community-based organisations (which may or may not be registered as non-profit organisations – "NPOs" – in South Africa).
Registration and Cancellation
Some areas of the website may not be freely accessible. You may be asked to complete a form of registration in order to access certain areas of the website ("restricted areas"). A charge may be payable to obtain access to the restricted areas, and where there is none, the Trust reserves the right to introduce a charge for such access at any time. If such a charge is introduced, the Trust may deny access to the restricted areas if you do not pay the relevant charges and comply with any further registration requirements that the Trust may, at their discretion, decide to introduce from time to time.
When you register for access to the restricted areas, you may be asked to provide certain personal details ("personal data"). The Trust will only use this personal data in accordance with the Privacy Policy.
The website may use cookies to verify the identity of users who have registered to access the restricted areas. For further information on this use of cookies, please see the Privacy Policy.
The Trust reserves the right to terminate your registration to the restricted areas and to restrict your access to the website without notice, at any time.
You may cancel your registration with the website at any time by sending an email to sasix@ggsa.co.za.
Restrictions on Use
You may only print the material contained on the website for your own use. The reproduction, redistribution, alteration and transmission of any material or information contained in the website is strictly prohibited.
You may not remove any copyright, trademark or other intellectual property right notices contained in the material.
You may not, in any circumstance, use any material from the website to create a service that may compete with any service provided by the Trust.
You may not frame the website without the prior written consent of the Trust.
You hereby indemnify the Trust against any and all claims arising from the use by third parties of any material from the website that they have accessed as a result of your reproduction, redistribution, alteration or transmission of that material in contravention of this agreement. Operation of the website
The Trust reserves the right to suspend or terminate the operation of the website at any time for the purposes of support and maintenance or to update the information contained on the website. The Trust is not obliged to give any notice of such termination or suspension.
Investing in SASIX
All donor investors in SASIX "social shares" must register for a Giving Account at the time of their initial investment. The Trust keeps records of contributions and investment allocations and statements are available online to donors, showing their investment details.
The Trust will send the donor a receipt of contribution ("share certificate") and tax receipt to the account address as soon as possible, usually within ten business days. All account correspondence, including acknowledgements of recommended grants, will be sent automatically to the primary donor. In addition, donors may select up to two other donors or nominators to receive copies of account statements, grant request acknowledgements and annual contribution summaries.
By opening a SASIX account, you are consenting to the receipt of electronic mail ("email") from the Trust. The Trust may send you emails about services and products we believe may be of interest to you. You may opt out of future emails about products or services by following the instructions contained in the email that you receive from the Trust. We reserve the right, however, to email you important information relating to your social investment, including regulatory communications. The Trust will not share your email address with any third party except its record-keeper and administrative services provider.
The GreaterGood South Africa Trust and SASIX provide the option for individuals to make unrestricted investments into various Focus Funds representing SASIX fields of interest. These funds have been established to provide general support to SASIX projects in accordance with the grant-making policies of the Trust. Donor investors may not recommend or stipulate investments made by this fund beyond the field of interest. Donors may contribute any amount directly to the Focus Fund of interest to them.
My Giving Foundation
My Giving Foundation is a personalised charitable fund that SASIX investors can set up in the name of their family, as an individual or as a business. A Giving Foundation is not a legal entity, it is a way for investors to structure their giving to suit their changing tax picture over time.
SASIX investors make a lump sum donation to a Giving Foundation which they name. They receive an 18A tax receipt directly after they have made the donation. To set up a Giving Foundation, investors must make a minimum donation of R500 for individuals or R5 000 for companies. Donations must be in multiples of R50. Investors can add to their Giving Foundation at any time, as long as the amount is in multiples of R50. Donations to a Giving Foundation are irrevocable and investors are not able to withdraw funds from their Giving Foundation. We will ask investors to nominate a preferred SASIX sector or province for any unallocated Giving Foundation funds.
Giving Foundation donations are held in the SASIX RMB Private Bank money market account where they earn interest. Income that accrues in the SASIX money market account belongs to SASIX and will be distributed to SASIX projects at the discretion of the GreaterGood South Africa Trust. Such amounts do not constitute income to the donor(s) and do not qualify for an additional charitable deduction by the donor(s).
Investors can use their Giving Foundation fund balance to buy shares in SASIX-accredited projects presented on the website. Investors may only distribute their Giving Foundation funds to SASIX projects, SASIX sector or SASIX province funds. All SASIX-accredited projects qualify for tax exemption under the Public Benefit Organisations Act. Investors who are South African taxpayers must allocate 85% of their Giving Foundation balance within the financial year that the 18A tax receipt was issued.
If an investor terminates their Giving Foundation for whatever reason, we will allocate the remaining balance to the investor’s nominated SASIX sector or province.
Eligible Donors and Contributions
The Fund will accept contributions from individuals, private foundations, corporations, donor-advised funds, trusts and estates. The Trust will accept contributions of cash or other "currencies" currently available including eBucks, American Express Membership Reward Points or Nedbank Greenbacks. In the case of loyalty point donations, the Giving Foundation will be credited on final redemption and payment of the Rand value of donated reward points by the loyalty programme applicable. Funds redeemed from loyalty programmes may thus take several days to be credited to the relevant Giving Foundation account.
Alternative contributions may be considered. For more information about contributing other assets, please contact SASIX on (021) 794-0580 or email sasix@ggsa.co.za.
Any contribution accepted by the Trust will be considered irrevocable. Once contributions are accepted by the Trust and receipted, they are not refundable. In general, a charitable contribution is deemed to have been made, for tax purposes, when the contribution is put beyond the donor's control, even if the donation is not yet under the control of the charitable grantee. This can be an especially important issue when contributions are made close to year-end and a deduction is desired in the same calendar year.
Investment of Contributions to SASIX: Charitable Asset Management
All donor investments into SASIX projects will be held in a dedicated Trust Account until such time as the full funding required by the project is raised. The Trust Account is managed by RMB Asset Management, with transparent accounting and regular updates of investment totals available to donor investors.
Donors will receive written confirmation of distributions made concerning their funds and electronic confirmation of a distribution made, the latter within 24 hours. Should the Trust decide not to approve a recommended grant for whatever reason, the Trust will likewise notify the donor. The Trust will take remedial action if it discovers that grants have been made for improper purposes. Remedial actions may include, but are not limited to, a requirement that the recipient charity return the grant to the Trust.
In the event that a project is listed for longer than twelve months without receiving full funding or sufficient funding to be implemented, the project offering may "expire", in which case donor investors will have the option of reallocating their contribution to an alternative project listed on SASIX or, to a Focus Fund.
Fees and Expenses
The Trust incurs financial, administrative and other expenses associated with its operation as an evaluator of investment opportunities and as a charitable organisation. To cover these costs, administrative fees are charged on each project and indicated on the project proposal budget on the SASIX website. This fee includes all finance charges for the processing of investments and grants to charitable organisations.The Trust may also charge for extraordinary costs incurred during the review of grant recommendations. In the event that such extraordinary costs are incurred, the details will be provided within the project proposal budget on the website. SASIX reserves the right to adjust this fee at any time in the future, as costs may dictate.
Income Tax Consequences
Contributions to SASIX projects generally qualify for an income tax deduction as a charitable contribution in the current tax year, subject to certain limitations.
Income that accrues in the Trust's holding account belongs to the Trust and is included in the value of investment held for a particular project. Such amounts do not constitute income to the donor(s) and do not qualify for an additional charitable deduction by the donor(s).
Disclaimer
The Trust endeavours to ensure the accuracy and reliability of the operation of the website and the content, materials and products included and available on the website, but because of the possibility of human and mechanical error, as well as other factors, the Trust does not, whether expressly, tacitly or implicitly, represent, warrant or in any other way guarantee the truth, accuracy or completeness of such information, or that it is always up to date. The Trust does not, in publishing adverts or materials on the website, endorse any products, advice or investment returns contained in these adverts, advice or investment returns.
The Trust, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of the website, or use or reliance on information provided on the website.
You must be satisfied that you may lawfully access the website, read the pages and/or act upon the material contained in the pages. The Trust accepts no responsibility for your unauthorised access or actions in respect of these matters.
The Trust reserves the right to suspend or terminate the operation of the website at any time for the purposes of support and maintenance or to update the information contained on the website. The Trust is not obliged to give any notice of such termination or suspension.
Linking from and to the Trust's Website
The website may contain links to third party websites. The Trust does not accept any responsibility for or liability arising from access to, or the information provided on, any website which is linked from the website, or any hyperlink contained in a linked website. The fact that the website contains a link to a third party website does not imply that there is any affiliation between the Trust and the third party website, nor that the Trust or their employees or officers endorse the third party website. You link to any such website entirely at your own risk and liability and the Trust recommends that you check the privacy policy and any other legal information contained on any third party website to which you link.
You may have linked to the website from a third party website. The Trust cannot be responsible for the privacy policy or other practices followed by the operators of any third party website from which you have linked to the website. If a third party website links to the website, this does not imply affiliation with the Trust, or that the Trust or their employees or officers endorse that third party website. The Trust recommends that you check the privacy policy and any other legal information contained on any third party website from which you have linked to the website.
You may not establish a link to the website without first obtaining the Trust's written consent. At no stage will you be allowed to deep-link to any webpage other than the main webpage on the website. You can request consent for your link by writing to sasix@ggsa.co.za. If such consent is given, the Trust reserves the right to withdraw its consent at any time at its sole discretion.
Intellectual Property Rights
The works of authorship contained on the website, including but not limited to, all copyright, designs, trademarks, logos, data, text and images, whether registered or unregistered, are the intellectual property rights of the Trust, their affiliates or third parties who have supplied information to the Trust, and are protected by the laws of South Africa, including international intellectual property laws, treaties and conventions. The Trust reserves the right to take legal action in respect of any infringement of these works of authorship or information contained on the website, including any legal action in respect of any reproduction, copying (other than in accordance with the terms of use), distribution, framing, uploading to a third party, publication, adaptation, broadcasting, public performance or other communication to the public of the works of authorship or information contained on the website without the prior written consent of the Trust.
Comments and Feedback
If you have any questions or comments about the website and would like to contact the Trust, please email sasix@ggsa.co.za.
The Trust values the comments, ideas, suggestions and feedback disclosed, submitted or offered by you on, or in connection with, your use of the website ("comments"), but the Trust shall not be obliged to respond to, maintain or compensate you in any way whatsoever for your comments. Once disclosed, submitted or offered, your comments shall become the property of the Trust. The Trust will thus exclusively own all rights title and interest in the comments and shall not be limited in any way in their use, commercial or otherwise, of any of the comments.
Applicable Law
This website is created, hosted, maintained and controlled in the Republic of South Africa and as such you agree that the laws of the Republic of South Africa and the jurisdiction of the South African courts govern this agreement, any disclaimers, copyright and use statements contained in the website, and any legal matter resulting from the use or inability to use this website, without giving effect to any principle of conflict of laws. Notwithstanding the foregoing, the Trust may seek recourse in any jurisdiction worldwide in order to restrain the unlawful use of any of the material contained in the website.
Alterations to these Conditions
The Trust reserves the right to change or delete any information, features or contents of the pages of the website including these terms and conditions of use at any time and without notice. As such, you should periodically check this agreement, our Privacy Policy and any other legal notices contained in the website.
