B-BBEE and Tax Benefits
Sponsors have a great role to play at LifeXchange. For us, these heroes allow us to bring our vision to life and grow the mentoring movement, and we do not take their sponsorship lightly. In fact, we consider any donor to be a ‘shareholder’ of LifeXchange with real ownership and voting rights on the work or projects that they are investing in.
And with an investment, it follows that there will be a return. Over and above the rewards of generosity and making a difference in this world, sponsors can experience many other benefits by giving to LifeXchange:
Firstly, since LifeXchange is a registered PBO, all donors receive a Section 18A tax certificate in order to claim tax back from their donations.
As more than 75% of LifeXchange’s beneficiaries are classified as Black, we are seen as an organisation with a Level 1 B-BBEE status, which means that investors in our projects can receive maximum points for many areas on their own B-BBEE scorecards (including Preferential Procurement, Socio-Economic Development, Skills Development and even Ownership).
There are also many opportunities for marketing and brand awareness for our sponsors, such as promotional material at LifeXchange events, recognition on our website and newsletters, branded clothing worn by our mentors, mentees and staff. For funders of a whole project there is even the option to own the name of the project!