Funders

Funding Community Development

The funding of JHC’s community development activity took a quantum leap in the 2008 financial year. Since Makhulong A Matala was established, JHC has guaranteed the organisation’s overhead costs and has required that its programme costs be raised from other sources. Cordaid, JPMorgan Chase and the Johannesburg Development Agency have provided much valued grant funding to support Makhulong’s activities.

In 2008, Makhulong was able to realise a return on its participation in the ApexHi Black Economic Empowerment Beneficiaries Trust and set up an endowment type investment with a base sum of R20 million. While this investment provides a stable foundation for the organisation and anchors its long-term sustainability, Makhulong continues to seek funding support for its ongoing programmes as well as new initiatives.

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Funding Models

The initial grant funding that was awarded to JHC provided the capital base required for the development of inner city social housing at a scale sufficient to deliver an adequate return for the organisation’s continuing viability.

By the end of 2000, JHC had established a portfolio of nine buildings, including two new-build developments. Having built up a reputation for innovation while maintaining good governance and sound management practices, the company was able to attract lending from commercial banks back to the inner city.

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Funder Services

One of JHC’s most significant achievements is that it has reached a position of financial sustainability while it has succeeded, too, in fulfilling its social mandate. Operating within a framework of sound governance and strict business principles it has achieved its defined financial and social objectives.

When JHC was conceived it had few models in the South African context to work from. With an initial capital grant of R50 million from the European Union and further funding from the Flemish Government, JHC has been able to grow its asset base to establish a balance sheet currently valued at R545 million (YE June 2009), comprising debt, equity and grant funding.

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