We ended 2008 in a positive financial position, with our expenditures in line with our budget and the donations we received exceeding budgeted figures.

This is important because with an annual expenditure budget for 2009 projected at just over R13 million for the 3 schools and just over R2 million for The Learning Centre and the LEAP Teaching Training Programme, it was crucial to have a 2008 working capital buffer as we embarked on 2009.

Never-the-less, despite our improved financial position, we remain a long way short of our goal of “Level One Sustainability”, which we have defined as having sufficient capital and committed funds to meet the following year’s operating budgets.

Level Two Sustainability is to ensure that we have sufficient capital and committed funds to see the current LEAP learners through their remaining years at school.

We are actively working towards these short and near term goals, while also pursuing the longer term sustainability strategies of building an endowment fund and establishing an equity capital fund through the LEAP Education Trust .

“I am proud of being a South African after my visit to LEAP... This initiative demonstrates the capacity of South Africans to turn adversity into a platform of opportunity. The young people who emerge from this institution are bound to become leaders in whatever field they work in.

The educational experience of LEAP embodies the principle that promoting equity and excellence go together. The attention to access, personal development and academic excellence is a model that should be replicated everywhere in our education system.”

 Dr Mamphela Ramphele

LEAP's aim to ensure long term financial sustainability for its existing and future operations rests on the following initiatives:

- Forming and strengthening long-term partnerships with those committed to implementing sustainable, workable solutions to address South Africa’s education challenges. This includes working both locally and internationally to secure core sponsorships and long term mutually beneficial partnerships.

- The motivation for and creation of a third tier of “State Assisted” school between the Public and Independent models that allows full Government funding while retaining management independence and staffing autonomy with the school. This partnership with Government seeks to channel the expenditure of Government into a results-based framework while harnessing the success, energy and dynamism of an independently managed school for the greatest good.

- The expansion of the LEAP Endowment Fund , with the aim of utilising income generated from the fund to cover school operating expenses.

- Building the investment portfolio of The LEAP Education Trust by securing equity stakes in South African corporations looking to secure a “broad-based black economic empowerment partner.”

LEAP’s financial year-end is 31 December and we are audited annually. We are a Public Benefit Organisation (No. 930005342) in terms of Section 30 of the Income Tax Act and we are also registered as a Non-Profit Organisation (No. 061-261-NPO).