Page 33 - UKZN Foundation AR 2024

UNIVERSITY OF KWAZULU-NATAL FOUNDATION TRUST
Trust Deed number: IT 589/2003
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME for the year ended 31 December 2024
Endowed Funds
2024 Total 2023 Total Notes R R R R
Specified Endowment Funds
Unspecified Endowment Fund
INCOME
Donations and grants
Specified purposes 76 063 543 - 76 063 543 91 990 242
Specified University endowments 269 400 - 269 400 26 250
Unspecified endowments - 5 002 725 5 002 725 1 047 409
Total donations and grants 8 76 332 943 5 002 725 81 335 668 93 063 901
Investment income
19 595 459 17 279 699 36 875 158 38 393 109
Interest and dividends 9
4 305 274
3 796 484
8 101 758
5 912 021
Net gains in investments 9
15 290 185
13 483 215
28 773 400
32 481 088
Total income 95 928 402 22 282 424 118 210 826 131 457 010
EXPENDITURE
Administration expenses - local - (7 636 585) (7 636 585) (7 477 512)
International operations - (106 266) (106 266) (67 921)
Bursary awards and other disbursements (2 287 792) - (2 287 792) (2 072 744)
Total expenditure (2 287 792) (7 742 851) (10 030 643) (9 618 177)
Net surplus before allocations 10 93 640 610 14 539 574 108 180 183 121 838 833
Allocations
(76 332 943) - (76 332 943) (92 016 492)
Grants for specified University purposes
(75 789 743)
-
(75 789 743)
(91 963 892)
Specified Foundation endowment funds
(273 800)
-
(273 800)
(26 350)
Specified University endowment funds
(269 400)
-
(269 400)
(26 250)
NET SURPLUS 17 307 667 14 539 574 31 847 240 29 822 341
Other comprehensive (loss) / income for the year - (54 004) (54 004) 39 158
Remeasurement of post retirement obligations
-
(54 004)
(54 004)
39 158
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 17 307 667 14 485 570 31 793 236 29 861 499
UKZN FOUNDATION ANNUAL REPORT 2024 31