CONSTITUTION OF JEPPE BOATS AND BLADES
[a division of the Jeppe Old Boys Association (“JBA”)]
- Jeppe Boats and Blades (“JBB”) is a voluntary association of interested persons constituted and established for the sole and express purpose of fundraising for the Jeppe High School for Boys (“JHS”) rowing section.
- JBB has as its initial founder members, a designated appointee of the Headmaster of JHS (Simon Moore), previous JHS rowing old boy, Greg Le Roux, as well as the current JHS rowing club member, Michelle Kirby (“the FOUNDERS”).
- It is recorded that there shall always be 3 FOUNDERS responsible for the administration and functioning of JBB, and therefore in the event that any of the initial 3 FOUNDERS is unable or unwilling to fulfil the designated task during the course of the PROJECT, then in that event the remaining FOUNDERS, shall be entitled to appoint, by unanimous consent, a replacement FOUNDER, to ensure that there are always 3 FOUNDERS, and such replacement shall be ideally be drawn from the ranks of JHS rowing old boys, and any such replacement shall always be approved by the Headmaster of JHS.
- The FOUNDERS may in their discretion, seek advice or assistance from interested parties or individuals from time to time, to ensure the success of the PROJECT, however decisions of JBB will only be valid and binding if made by the FOUNDERS unanimously. No person, other than the FOUNDERS will have any authority to bind JBB or to represent JBB without the express written unanimous consent of the FOUNDERS.
- JBB is accordingly hereby constituted and established for the sole and express purpose of the PROJECT under the direction and control of the FOUNDERS.
- JBB and the FOUNDERS undertake and agree that:
- JBB is established solely and exclusive for the PROJECT, and for no other reason; and
- All funds raised, by JBB, in respect of the PROJECT, will be utilised solely and exclusively for the PROJECT and for no other reason; and
- No money raised by JBB from donors will be used for any other purpose whatsoever and in particular, no costs and expenses or administration fees will be deducted from monies raised; and
- The FOUNDERS will endeavour to circulate and communicate the establishment of JBB and the existence of the PROJECT, to all current and former JHS pupils, and their families and associates, including the JHS Old Boys network, with a view to securing donations for the PROJECT, either by way of once off lump sum payments, the purchase of specific rowing equipment required for the PROJECT, or by way of monthly donations.
- An exclusive trust banking account, designated solely for the purposes of fundraising for JBB, will be opened by JBB, at Wright, Rose-Innes Inc Attorneys in Bedfordview, managed and controlled by previous JHS scholars, Graeme and Renee Carrington as well as Junior Mngomezulu, into which trust account, all donations will be paid, and invested to earn the best interest rate possible, for the benefit of JBB.
- Monthly trust bank statements will be circulated to the FOUNDERS, for the purposes of full transparency in respect of all donations received, all monies being invested, and interest being added to such investment, and for confirmation that no expenses, costs or administration fees of any nature are deducted from the account.
- The only payments which will be made from the JBB trust investment account, will be those authorised by the unanimous consent of the FOUNDERS in writing.
- Tax donation certificates in terms of section 18 of the Income Tax Act, will be made available to any donor on request.
- On the dissolution of JBB, a final bank statement will be produced reflecting all transactions from inception to closure, and reflecting in particular that the bank account has a zero balance, all of the funds collected therein from donations, having been utilised in respect of the PROJECTS.
- If for any reason, the goal of raising sufficient funds for the PROJECT is not achieved within a reasonable period of time, such period of time to be decided by the FOUNDERS unanimously, then the FOUNDERS shall have the discretion to utilise those funds which have been raised, exclusively for the benefit of the JHS rowing section, in the best manner possible and taking into account the needs and requirements of such section at the time, and such decision will be made unanimously by the FOUNDERS. In this manner, donors are assured that all funds donated will always exclusively be used for the rowing section of JHS only.