The Children's Hospital Trust formed a Foundation in 2007 - the aim of which is to provide funds from an invested portfolio to its only beneficiary, the Children's Hospital Trust. In May, R59.6 million was donated by the Trust to the Foundation, the result of three legacies being invested over the years. This body has a separate Board of Trustees and its funds are managed by Investec.

It will continue to be the recipient of undesignated legacy funds, which in turn yields an income stream for the Children's Hospital Trust. This measure will help secure ongoing stability and sustainability for the Trust and the programmes it funds, while also acting as a reserve for the charity.

Legacies or bequests are an increasingly important part of the Trust's income. There is no greater gift than to leave an organisation a legacy for preserving its future.
The increasing activity of the Trust and the Foundation and the increase in income and assets under management, as set out in the Financial Statements, brought with them a need for new structures and new talents to support those structures. The Board of the Trust has always insisted, not only on good governance, but on the best governance. 

Accordingly, a formal Audit and Risk Committee has been formed, and held its first meeting in 2007. Independent people with the required experience and expertise have been invited to serve on this committee. Again in the interest of good governance, the Board of the Children's Hospital Foundation is independent of the Trust. Individuals with the particular skills required for the purposes of the Foundation, have been asked to serve on that Board, under the chairmanship of John Bester, who for years has ably overseen the finances of the Trust.

The Children's Hospital Trust is a real catalyst for change. Help us make the Red Cross War Memorial Children's Hospital a place where miracles happen more often by donating funds that will assist us in making a real difference in the lives of children.