The NMI is a not-for-profit Trust, governed by an independent Board of Trustees, representing the senior management of founding partners (the Nelson Mandela Foundation, the University of Fort Hare, and the Department of Basic Education) as well as key innovators in the fields of education and rural development. The Board of Trustees volunteer their time as a contribution to the organisation’s mission.
There are three standing committee: the Executive Committee, the Audit Committee, and the Sustainability and Investment Committee.
The Nelson Mandela Institute is located within the Faculty of Education at the University of Fort Hare. The NMI reports to the Faculty Board and University Senate for university related work.
2. FINANCIAL ACCOUNTABILITY AND RISK MANAGEMENT
The NMI prides itself on its high quality systems and standards for financial management and accountability, and in ensuring resources are used to maximise the organisation’s impact on rural schools and communities.
The Finance Manager, Mr. Kudakwashe Mugova is a fully qualified Chartered Accountant (CA) registered with South African Institute of Chartered Accountants (SAICA).
The organisation undergoes an annual external audit, undertaken by an independent auditing firm, selected and overseen by the Audit Committee.
The organisation has received clean (unqualified) audit reports since the inception of the organisation. A complete set of the audited annual financial statements are available here. A risk management plan is submitted to the Board of Trustees on an annual basis. It identifies financial, organisational, human resource, and sustainability risks facing the organisation. An annual internal audit is undertaken, guided by the risk management plan.