Who owns AfrikaBurn?
AfrikaBurn is wholly owned by Afrika Burns Creative Projects Non Profit Company (NPC). The company was registered on 24th July 2007 in South Africa and its registration number is 2007/020812/08.
WHAT IS A NON-PROFIT ORGANISATION?
Non‐profit organisations provide some public service or have some public purpose that goes beyond serving the personal interests of the members of the Non Profit Company (such as the promotion of the arts, social welfare, economic development, charity, education or research).
AfrikaBurn’s purpose is described in its Memorandum of Incorporation. Download that here:
Non-profit organisations may (and should try to) make a surplus, but may not distribute their property, assets or surplus to their members. AfrikaBurn uses any surplus it makes to further its purpose, objectives and public interest. This means that no Member or Director of AfrikaBurn makes a profit from AfrikaBurn – or ever will.
Some Directors and Portfolio Managers may be (very modestly) remunerated for their services so that they may continue to live and feed themselves while contributing their time to making AfrikaBurn happen. If you’d like to know more about where the money raised by the organisation’s finances, you can do that here.
Non-profit organisations frequently do not generate enough income to cover all their expenses, so they fundraise from the public or donors. AfrikaBurn operated at a loss for the years 2007, 2008 and 2009 but due to generous donations of cash, time and services of the community, the organisation was able to continue. However, from 2010 onward the numbers of people participating in AfrikaBurn has meant that the organisation has been able to support itself and fund an increasing number of creative projects and art at AfrikaBurn events, and beyond.
