Sanlam Private Wealth launches charitable trust

Peter Duminy, Head of the Pretoria branch of Sanlam Private Wealth.

Sanlam Private Wealth has launched the Hands of Goodwill Trust, a humanitarian initiative in collaboration with clients who wish to give back to society and contribute to worthy causes. Funded by way of donations, the Trust will provide an independently audited charitable vehicle for Sanlam Private Wealth clients and members of the public who seek to do their bit to help build a South Africa that is free of poverty and inequality.

“We have witnessed an increase in clients wanting to share their wealth with those in need, but who don’t know how to go about it. The Hands of Goodwill Trust will enable our clients to invest in a cause where they can see how their contribution is making a difference,” says Peter Duminy, Head of the Pretoria branch responsible for this initiative. 

The Trust will focus on the provision of education programmes to, and the care and counselling of needy children, the elderly, and physically or mentally abused and traumatised persons, as well as the provision of poverty relief and facilities for the protection and care of children as well as poor and in-need parents.

“At Sanlam Private Wealth, we want to use our expertise in the management of charitable organisations’ assets not only to the benefit of our clients but also to the benefit of those in need in our communities,” says Duminy.

The aim of the Trust is to:

• provide adequate long-term funding to predetermined and officially recognised charity organisations
• establish good quality investment accounts, with the primary focus on capital and income growth, in order to distribute the proceeds to the identified organisations
• participate and launch fund-raising initiatives to increase the capital in the investment accounts.

The trustees of the Hands of Goodwill Trust will provide regular feedback to clients, external donors as well as Sanlam Private Wealth employees.

Individuals who choose to donate funds to the Trust will receive a tax certificate for tax deduction purposes. Section 18A of the Income Tax Act allows for deductions in respect of bona fide donations to public benefit organisations.

Sanlam Private Wealth clients as well as members of the public can contribute by completing the Hands of Goodwill Trust pledge form, available from a wealth or portfolio manager. Individuals can also contact Sanlam Private Wealth for the bank account details if they wish to donate directly and not by the transfer of shares or cash from their share portfolio.