September 2008

The Foundation

The Foundation is now an Incorporated Charitable Trust in New Zealand, and application has been made to the New Zealand Charities Commission for tax-exemption on donations. Because of recent changes to the New Zealand legislation, the Charities Commission has been inundated with applications from both new and existing charities, and we understand it will be some months before our application is considered. However, if we are approved for issuing tax receipts, the approval will be backdated to the time the application was lodged, ensuring that those who have made donations since 25 June will receive tax rebates.

Fund-raising for the Cedric School Project

It has been encouraging to hear from new donors and to see opportunities for promotion appearing almost daily. We have now reached 27% of the target for Capital and Development (US$317,000) for the first year, and 47% of the target for Operational Costs (US$120,000).

The New Zealand dollar has dropped in value against the US dollar in recent months, and because all our projections have been pegged to the US dollar, we will be somewhat disadvantaged unless the kiwi dollar gains ground again.

Our most urgent need is for the capital funding necessary to buy the school and the farm land.

In addition, the Foundation is seeking committed sponsors for all 260 students at NZ$12 (US$10) per student per month, and sponsors for the 8 teachers at $400 (US$320) per teacher per month. This sponsorship will ensure that the school running costs are covered while the farm is being established.

Agreement to Purchase

Formal purchase offers for both the Cedric School and adjoining farm land have now been drawn up, representing a total of US$175,000. Once signed, a 10% deposit will be paid into a trust account in Zambia, and the balance will be required early in 2009. This is a step of faith, and we encourage you to assist us in meeting this significant target.

The property will be owned by Limapela Community Development, which will be established in Zambia as a private limited liability company.

The Foundation anticipates that Terry Webster and Matthew Raymond will need to go to Zambia early in the new year to attend to the business formalities, purchase arrangements and immigration applications. Their wives Alison and Carolyn will join them soon after.

Contributing to the Foundation

Please support this project. Cheques should be made out to The Limapela Foundation, or you may use the Pledge Form. Feel free to contact us if you are interested in assisting in any other way, or if you require further information.