2024-12-31-accounts - The Kay Mason Foundation

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2024 Annual Report

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Every child
deserves an
education
Developing
leaders-
leaders with
integrity
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|||| |---|---|---| |Leaders’ Reports 3| |F|ounder’s Report – Richard Mason|3| |Chairperson’s Report – Sasha Knott|4| |CEO’s report – Noëline de Goede|5| |Our Vision, Mission and Global Reach 6-7| |2024 Program Impact Review 8| |Support Program|9| |Catapult Program|10| |Senior Scholar Program|11| |Alumni Support Program|12| |Global Fundraising and Awareness 13-14| |2024 Highlights 15| |Financial Overview 16| |Acknowledgements 17| |Organisational and Contact details 18|

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Founder’s Report

2024 was a year of expansion and change for the Kay Mason Foundation, a year that laid the groundwork for our next decade.

In March, we launched our global donor outreach campaign with a landmark trip to Los Angeles, where KMF alumni Siphosethu Pama and Asongezwa Sitwebile were celebrated at a dinner co-hosted with our extraordinary patron Lesley-Ann Brandt at CAA.

Hollywood’s great and good turned out in force, among them Jordan Helman of Hulu, Janet Vissering of Nat Geo, and Maria Wilhelm, James Cameron’s right hand.

The impact of that evening showcasing our scholars’ brilliance on a global stage was extraordinary.

Momentum carried through to the UK, where Jojo and Michael George, and later Harriet Sergeant, hosted elegant gatherings that further expanded our international community and raised crucial funds.

These occasions laid the foundation for the Hummingbird Ball, our A-list London fundraiser scheduled for 20 March 2025.

At home, we welcomed more scholars than ever before and strengthened our leadership structure, bringing back former CEO and experienced social worker Noëline de Goede to oversee our scholar Programs.

We look back on 2024 with gratitude and forward with confidence, inspired by the young leaders we serve.

Richard Mason

Chairperson’s Report

Changing the world

Looking back at 2024, I can’t help but feel proud (and a little awestruck) at how far The Kay Mason Foundation has come. What began as a local initiative is now stepping confidently onto the global stage.

From celebrating our scholars at the annual awards in January, to hosting events across three continents, this year has truly been one for the history books.

2024 also saw us take The Kay Mason Foundation global. Our very first event in Los Angeles was nothing short of brilliant – a milestone moment as some of our alumni travelled overseas for the very first time. Watching them stand tall on an international stage, sharing their journeys and dreams, was powerful proof that our work is changing lives in ways bigger than we ever imagined. Later in the year, we also held a smaller, intimate gathering in the UK – equally impactful, reminding us that no matter the scale, our message resonates.

This was also the year of alumni leadership in action. Our Alumni Advisory Board has gone from strength to strength, proving the power of networks and shared experience. After two years of dedicated leadership, Siphosethu Pama passed the baton to Bernadette Kanku, who is already stepping into the role with energy and vision. Watching our alumni not only support each other but also take the reins of decision-making fills us with immense pride.

A personal note. This is my last year as Chair of The Kay Mason Foundation. Serving this organisation for the past seven years has been one of the greatest honors of my life. From the turbulence of COVID-19 to the thriving, global force we are today, I have had the privilege of witnessing the true power of education, community, and resilience.

2024 has been a year of growth, connection, and bold new steps. And as always, none of this would be possible without our team, our alumni, and every supporter who stands alongside us. Together, we are not just changing lives – we are changing the world.

CEO’s Report

What a privilege to return to the Kay Mason Foundation, the warm hugs from the kids, the amazing team of staff members, and board members at the end of 2024.

As we look back at 2024, we are immensely proud of what our organisation, our scholars, and our alumni have achieved.

Our year was marked by academic success, leadership growth, and meaningful community impact.

Our mission goes beyond academics, our scholars actively lead and contribute to their communities while developing strong leadership skills utilized at school and beyond.

We are proud to share these achievements of 2024 with you and look forward to continuing our journey together in education, empowerment, and development.

Noëline De Goede

Our Vision, Mission and Global Reach

One Mission, Three Continents: A Unified Force for Change

The Kay Mason Foundation operates on a simple, powerful belief: that every child, regardless of their circumstances, deserves a quality education and the opportunity to become a leader of integrity. This core principle is the heartbeat of our organisation, connecting our operations across the globe and uniting a diverse community of donors, partners, and advocates in a single, transformative mission.

Our Vision

To ensure a fairer world with better leaders - leaders who build sustainable solutions with integrity, ethics, and a deep respect for humanity and the environment.

Our Mission

To identify, nurture, and empower underserved scholars to become the ethical, future-ready leaders our world needs.

Our Global Structure: Locally Registered, Internationally Aligned

To effectively steward donor funds and operate with the highest level of legal and financial integrity across borders, The Kay Mason Foundation is established as three independent, legally registered entities in South Africa, the United Kingdom, and the United States. This structure allows us to meet the specific regulatory and tax requirements of each country while ensuring every contribution directly advances our shared mission.

Our Vision, Mission and Global Reach

Kay Mason Foundation South Africa Trust (KMF SA)

Role: The operational heart of the Foundation. KMF SA is responsible for the end-to-end delivery of all our Programs - from scholar recruitment and academic support to mentorship and alumni guidance. Every rand, dollar, and pound raised globally is ultimately grant-funded to KMF SA to directly impact scholars on the ground.

Legal Status: Registered NPO (091-998), PBO (930036244), and Trust (IT397/2011) with Section18A tax-deductible status.

The Kay Mason Foundation UK (KMF UK)

Role: Our philanthropic hub in Europe. KMF UK cultivates relationships with donors and Trusts, raising awareness and funds to support our work in South Africa. It is a registered charity (No. 1194073) in England and Wales, enabling UK taxpayers to give through Gift Aid, increasing the value of their donations.

Legal Status: Registered Charity (1194073).

Kay Mason Foundation USA Inc. (KMF US)

Role: Our gateway for American philanthropy. KMF US is a registered 501(c)(3) public charity, allowing U.S. donors to make tax-deductible contributions. It focuses on engaging individuals, foundations, and corporate partners in the U.S. to build sustainable support for our scholars.

Legal Status: Registered 501(c)(3) non-profit organisation.

Strategic Alignment for Maximum Impact

The synergy between our three entities is seamless and strategic:

Awareness & Fundraising: KMF UK and KMF US host events, cultivate major donors, and run campaigns to raise global awareness and vital unrestricted funds.
Grant Funding & Oversight: Funds raised internationally are grant-funded to KMF SA, with robust reporting and governance to ensure donor intent is honoured and resources are used effectively.
Program Delivery & Impact: KMF SA executes all Programs, providing direct services to scholars and generating the life-changing outcomes that, in turn, inspire further global support.

This integrated model ensures that no matter where in the world a supporter engages with us, their contribution is channelled efficiently to where it is needed most: empowering a scholar in South Africa to realize their full potential and become a leader of tomorrow. We are one foundation, with one mission, powered by a global community.

2024 Program Impact Review

Grade 6 Recruitment and Grade 7 Support Program:

The need for quality education is tangible when we receive hundreds of applications from grade 6 scholars each year.

Through a detailed assessment process, which includes psychometric and academic assessments, presentations, financial screening, and much more, the group of applicants were reduced to 46 scholars who will undergo a final assessment in January 2025 to determine the cohort of 15 – 25 scholars who will receive a High School Scholarship for 2026.

We also spent the year preparing our 25 grade 7 scholars for their placement at their new High Schools in 2025. This is the second time that 25 scholars were selected for one cohort and we are eager to continue their development journey with them.

Scholarships Assesments

Grade

6/7

Recruitment Support Program

2024 Program Impact Review

Catapult Program

In 2024, our Catapult Program continued guiding scholars beyond high school through career mentorship, psychometric assessments, job shadowing, and university application support.

In July, our 2nd Annual Career Expo, sponsored by Trade Ocean, explored “Future Careers” in fields like AI, sustainability, logistics, and digital marketing, broadening our scholars’ understanding of emerging opportunities.

This Program’s success is made possible by our generous mentors and partners who open doors to new career paths. We deeply thank everyone helping us shape confident, capable future leaders.

2024 Program Impact Review

Senior Scholarship Program

Our grade 8 – 12 scholars worked very hard during 2024 to achieve their academic and personal goals and we are proud to share the following achievements:

11 Scholars achieved over 80% average in Grade 10, 11, and 12.

16

Scholars placed in the top 10 of their class for various subjects during the year

56

Scholars received KMF academic awards for achieving over 80% in a subject or placing in the top 10 in their grade at school

39

Scholars achieved extra mural awards for representing the school’s first team in their chosen sports and/or receiving colours or gold medals

Matric results for 2024

99%

Pass rate - all bachelor passes

18 Distinctions achieved (above 80%)

2024 Program Impact Review

Senior Scholarship Program

Our scholars excelled as leaders in academics, extracurriculars, and community service. Sixteen were formally recognized for leadership roles in their schools or communities embodying the Kay Mason Foundation’s mission of developing ethical, future-ready leaders. Their achievements include serving as team captains, class or club representatives, reform advocates, award recipients, and Head or Deputy Heads of their schools. We proudly salute their dedication and drive.

Several of our scholars showed remarkable commitment to their communities through impactful projects.

Samkelo led a cleanup campaign after a nearby settlement was tragically destroyed by fire.
Aeesha earned a Community Service Bronze Award for her volunteer work.
Havanna, winner of our Ethical Leadership Campaign, launched “Pencils of Promise” to provide essential stationery to underresourced learners partnering with Van Schaik Books to deliver 142 stationery packs to two Mitchells Plain schools.
Kaylin, in partnership with Pick n Pay, created the “Love in Action” campaign, establishing a soup kitchen for families in Bishop Lavis.

Alumni Support Program

Our alumni continue to make us proud with remarkable achievements beyond high school!

Landa Faku (’23) – Dean’s Merit List 2024 and now a first-year Politics tutor, mentoring Inam Beja (’24).
Sesethu Mafuya (’23) – Awarded the Dell Foundation Bursary. Siphosethu Magwa – Accepted for BSc Food Science at Stellenbosch University. Asonele Msindwana – Provisionally accepted into Medicine (2026) at Wits University.
Dr. Naledi Maponopono – Earned her PhD, appointed to the Pan African Language Board, and published in the Journal of International Students.
Thimna Kulati – Began an internship at UWC’s Institute for Microbial Biotechnology and Metagenomics. Jordan Rajh – Graduated in Financial Accounting from Stellenbosch University, aspiring to be the next Minister of Finance!

In 2024, KMF continued supporting alumni through counselling, psycho-social care, and financial assistance, while alumni gave back by mentoring scholars, volunteering, and serving on KMF boards continuing to lead and inspire in their communities.

Global Fundraising and Awareness

Global Fundraising & Awareness

Building a Global Community for Local Impact The year 2024 marked a transformative chapter for the Kay Mason Foundation as we confidently stepped onto the global stage. Our strategic goal was to amplify our mission internationally, cultivating a worldwide network of supporters to fuel our core work in South Africa. This ambitious expansion resulted in unprecedented awareness, new lifelong partnerships, and crucial funding, proving that our scholars' stories resonate across continents.

Leveraging Digital Engagement

Our foray into global fundraising was supported by targeted marketing and social media efforts. We leveraged platforms like LinkedIn and Instagram to share real-time updates from our international events, showcasing scholar and alumni participation to our growing global audience. This consistent digital narrative helped build a cohesive international brand identity, turning event attendees into online followers and ongoing supporters.

Conclusion: A Firm Foundation for Global Growth

The success of our 2024 global initiative is measured not just in funds raised, but in the powerful foundation we built. We expanded our visibility from a respected local entity to an emerging global force, attracted new institutional and individual supporters, and created a replicable model for international fundraising. The connections forged in Los Angeles and London ensure that the ripple effect of our scholars' success will continue to

generate opportunities and resources for years to come, firmly establishing Kay Mason Foundation as a player on the global philanthropic stage.

[(] 13 re

Global Fundraising and Awareness

A Landmark Year in International Events

For the first time in our history, we hosted a series of exclusive, high-impact events across the United States and United Kingdom, driven by the passion of our international board members and patrons.

The Funding Network UK: In a significant achievement, KMF was selected as a finalist at The Funding Network UK's live crowdfunding event in September. Pitching our mission in a competitive environment, we successfully gained invaluable exposure within London’s philanthropic community, attracting a new cohort of international donors.

Hollywood Launch: In April, our extraordinary patron, actress Lesley-Ann Brandt, co-hosted a dazzling fundraiser at the prestigious Creative Artists Agency (CAA) in Los Angeles. The event was a milestone, featuring our alumni Siphosethu Pama and Asongezwa Sitwebile on a global platform. It brought together influential figures from Hollywood studios and production companies, generating significant excitement and generous philanthropic commitments.

;

UK Cultivation: In London, our UK Board of Trustees hosted four elegant and intimate gatherings throughout the year. These events, hosted by supporters like Jojo and Michael George and Harriet Sergeant, successfully connected us with high-net-worth individuals and seasoned philanthropists, laying a strong foundation for our future European operations and building towards our inaugural Hummingbird Ball scheduled for March 2025.

2024 Highlights

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Award Ceremony DHL Visit
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Graduation Retreat
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DHL Visit
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Career Expo
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Clay Cafe Outing
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Overview

Financial

Consolidated Revenue: Building a Global Funding Base

In 2024, the KMF Group - comprising our US, UK, and South African entities - achieved a total consolidated revenue of R13,097,577 . This represents a 21% increase over the 2023 revenue and underscores the powerful response to our new international initiatives.
Breakdown of Revenue Streams: Our income is now diversely sourced across three continents, strengthening our financial resilience. KMF South Africa generated R4,076,686 (31%) through local corporate partnerships, charitable trusts, and individual donors. KMF USA contributed R4,026,867 (31%) from our landmark inaugural event in Los Angeles and subsequent donor cultivation.
KMF UK raised R1,795,200 (14%) through a series of intimate gatherings that built a strong foundation for future growth.
KMF Equity Trust & Other
Sources provided R3,198,824 (24%) , demonstrating the stability of our long-term funding structures.

This diversified funding model is a core strategic achievement, reducing our reliance on any single market and positioning KMF for sustainable, long-term impact.

Strategic Expenditure: Maximizing Impact for Scholars

Total expenditure for 2024 was R11,928,202 . Our spending is intensely mission-focused, with the overwhelming majority of resources directed towards our core Programs.

Programmatic Allocation: We are proud that 76% of all expenditures were directly allocated to Program activities, a key indicator of operational efficiency for non-profits.
Scholarship Programs (67% - R8,020,456 ): This primary investment covers school fees, tutoring, academic resources, and essential support for our growing cohort of scholars.
Catapult & Alumni Programs (9% -
R1,112,681) : Funding for career guidance, university application support, and ongoing mentorship, ensuring our scholars' success extends far beyond high school.
Operational & Administrative Costs: Necessary support functions, including governance, marketing, and office administration, accounted for only 24% of total spending, well within the benchmarks for exceptional non-profit stewardship.

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Income By Source
KMF US
R1,079,133
KMF SA
R3,956,199
KMF UK
R5,820,455
KMF Equity Trust
R2,244,000
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Thank you to all our
Donors and Supporters
Expenditure FY2024
Office Cost Marketing and Fundraising
2% 15%
Governance
7%
Alumni Program
4%
Catapult Program
5%
Scholarship Program
67%
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Every child deserves an education

SA

Kay Mason Foundation SA Trust RMB Private Bank (division of FNB) Current account number: 62304828405 Branch code: 202709 Branch name: Newlands SWIFT Code: FIRNZAJJ

UK

The Kay Mason Foundation NatWest Bank Current Account number: 10370749 Sort code: 55-61-08 BIC: NWBKGB2L IBAN: GB05 NWBK 5561 0810 3707 49

USA

Kay Mason Foundation USA Inc. Chase Bank Current Account Number: 305883552 ABA Routing Number: 111000614

Kindly supported by : (excluding private individual donors)

Every child deserves an education – whatever their circumstances.

WEB: www.kmf.org.za E-mail: hello@kmf.org.za Telephone: +27 21 917 1853

Docusign Envelope ID.. EE43081F4EBH1C1-A02&3A1EB(N)8B312 REGISTERED CHARiff NUMBER". Re rtofth•T ited Flnanclal Stateme r Ended 31 December Foundatlon Monahans Chartered Acthuntants Hermes House Fire Fly Avenue Swindon Imltshire SN2 2GA

Docusign Envelope ID.. EE43081 F4EB441c1-AO2l EB008B312 Mason Foundallon Contents of the Financial Statements for ts Year Ended 31 December 2024 Report of the Trustees Independent Examinerfs Report Statement of Financial Actlvities Balance Sheet Notes to the Financial Statements Detailed Statement of Flnanclal Actlvltlos 10

Docusign Envelope ID.. EE43081 F4EB441C1A02&3A1 EBfyJ8B312 rt of the Trustees for tho Year Ended 31 December 2024 The trustees present their report Wtlh the ffinan(ial statements of the chanty for the year ended 31 December 2024. The trustees have adopted the provisions of Armunting and Reporting by Charities.. Slatement of Recommended Practi applicable to charities preparing their accounts in aC0)rdan with the Financ4al Reporting Standard applicable in the UK and Republ of Ireland (FRS 102} (effecbve 1 January 2019). OBJECTIVES AND ACTIVITIES Objectlves and aims The principal activities and objects of the fwndation are as follows: - The advanment of the atsderniG. tethnical and physical education of Yjn9 persons up to the age of 25. or other age as the Trustees may from time to time deternine. - The relief of poverty hardship and distress of young persons up to the age of 25 (or sud) other age as the Trustees may, from time to time. detennine) who are in need of such relief by reason of their so(ial and economic siluation or as a result of of local, national or intemational disaster or for any other reason. - For 8uch other purposes which are exdusivdy dritable v•ithin the law of Er¥Jland and Wal88 as th8 Trustees shall decide. Funds raised by Th8 Kay Mason Foundation in Ihe UK are primarily transferred to the associated tharity in South Afrlca (rhe Kay Mason Foundation South Afric4 Trust (KMFSAT)). The objects of KMFSAT (as conlained in its Trust Deed) are primarlly the same as those of The Kay Mason Foundation aTvJ Riolard Mason. the Ch8iman of thè boarrl of Trustees of the Kay Mason Foundation is also a Trustee of KMFSAT. FINANCIAL REVIEW Flnanclal posltion Income from donations and grants totdled £169.159 for 1he year (2023.. £76,524). The Trustees believe that a satisfactory level of ongoing donations will continue to te received. Grants payable during the year of £1 LX),153 w8r8 paid directly to The Kay Mason Foundab'on South Africa Trust (2023 - £122,592). There wa8 an overall n8t surplus for the year of £48.280 (2023- £54.433 deficii). Inv••tmont pollcy Currently all donated funds are kept in either one or other of the Foundation's bank accounts. This allows the Foundation the flexibilty to pay fees. pod(et money, donations and other expenses vknen required Once the Trustees agree that there a sufficaent fvrKls available to transfer frorn cash deposil into longer tem investments, they will come to an agreement on a more detailed bn*term investment policy. Re8erve8 poIIcy It is the Foundation's intention to butkl up additional reserves for the ¢hanty to establish a solid foundation for the Foundation's future. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The tharity is controlled ty its gcNeming d0men( a deed of trust and c(Mistitules an unlncorporated drity. Recrultment and appointment of now trustees The Trustees are responsible for administration and inVestmrt wliGy of the Foundation. The board of Trustees c>)nststs of 6 members. The Foundation allNs for the appointrnwrt of additional Trustees. REFERENCE AND ADMINISTRATIVE DEfAILS Reglstered Charlty number Principal address PO Box 4893 Tygervalley Cape T¢)wn South Africa Page 1

Docusign Envelope ID.. EE43081F4EB441C1-A02&3A1E8008B312 Re rt of the Trustees for fv Year Ended 31 December 2024 Trustees R Mason C Gull M Autotte S L Reader (appointed 12.7.24) K Traut A Stokes Independant Examiner Monahan$ Chartered Accountsnts Hemies House Fire Fly Avenuè Swindon Wiltshire SN2 2GA 29110r2025 Approved by orderof the board oftrustees on ............................................. and signed on its behalfty". D•¢u$lIn br- 1D7881CDFCF7453.,... M Autotte- Trustee Page 2

Docusign Envelope ID.. EE43081F4EB441C1-AO21EBCj8B312 In Examinees R rt to the Trustees of Mason Foundation Independent examlnefs report to the trustees of The Kay Mason Foundation I report to the chanty Iwstees my exaThtination of the ac(x)unts of Kay Mas1 Foundation (the Trust) for the year ended 31 De(%nber 2024. Responslbllittes and ba818 of report As the tharity trustees of the Tnjst you are responsible for the preparation of th8 OUnts In a0rdance wlth the requirements of the Charities Act 2011 (the ACV). I report in respect of my examination of the Trusys accounts carried out under Section 145 of the Act and in carying out my examinats'on I have followed all applicable Direciions given by the Chanty Commission under Se(*'on 145(5}(b) of the Ad. Independent examinerfs 8tstement I have completed my examination. I corffinn that no materbal matters have CO to my attention in nneCtIOn with the examination gyving me cause to believe that in any material respett: aco)unting rec¢Kds We not kept in respeGt of the Trust as required by Sedion 130 of the Art; or the accounts do not accord viith those records; or the atxounts do not comply with the applit3ble requirements nmI¥j ts fom and cont8nt of account8 881 out in the Charities (Accounts and Rewrts) Regulatn$ 2())8 other than any requiremènt that the aco)unts give a true and fair vrew whith is N)t 8 matter considwed as part of an independent examination. I have no concems and have come am8 no Other matters In cxjnneclion with the examination to which attention should be drawn in this report in cyder to enable a proper understsnding of the accounts to be reached. Robert Branch Monah8ns Chartered Ac(x)untants Hermes House Fire Fly Avenue Swindon ltshire SN2 2GA Date.. Page 3

Docusign Envelope ID: EE43081 F4EB441C1-A02&3A1EB008B312 The Ka Mason Foundation Statement of Flnancial Activities e Year En 31 December 2024 2024 Totsl funds 2023 Total funds Unrestrtcled EndoNment fund nd Notes INCOME AND ENDOWMENTS FROM Donat'ons and legacies 169.159 189,159 76,524 EXPENDITURE ON Raising funds 21,244 21,244 6,980 Charltable athities Charitable acttvtties 101.635 101,635 123,977 Total 122,879 122,879 130,957 NET INCOMEI(EXPENDITURE) 46,280 (54,433) RECONCILIATION OF FUNDS Total funds brought foN4ard 5.194 59,627 TOTAL FUNDS CARRIED FORWARD 50.974 51,474 5,194 The notes form part of these financial statements Page 4

Docusign Envelope ID: EE43081 F4EB441C1-A02&3AIEB(K)8B312 Mason Foundation Balance Sheet 31 December 2024 2024 Total fvnds 2023 Total funds Unrestricted Endowment fund fund CURRENT ASSETS Debtors Cash at bank 12,430 39,894 12,430 40,394 2,750 3,785 52,324 52.824 6,535 CREDITORS Amounts falling du8 within one year (1,350) (1,350) 11,341) NET CURRENT ASSErs 50,974 51,474 5,194 TOTAL ASSETS LESS CURRENT UABIUTIES 50.974 51,474 5,194 NET ASSETS 50.974 51,474 5,194 FUNDS Unrestricted funds Endowment fvnds 50,974 500 4,694 500 TOTAL FUNDS 51,474 5,194 The financial stst8ments were apwoved by th8 Board of Tnth and aLrth0ri8ed for issue on Z91.1QR925........................... and were signed on its b8haff by.. DU*n•d ty.. rtLarf( fOF M Aulole Y4S rus The notes ft)mi part of these financaal ststements Page 5

Docusign Envelope ID.. EE43081 F4EB441C1-A02&3A1EB(N)8B312 The Notes to the Financial Ststements for the Year Ended 31 December 2024 AccouFillNG POLICIES Basls of preparfng thè financkl Statements The financAal statements of the chanty. which is a public benefft entity under FRS 102. have been prepared in aOrdan wtth the Chanties SORP (FRS 102) 'Accounting and Reporting by Charities". Ststement of Recommended practi applicable to charities preparing their acrnunts in accordan with the Financial Reporting Standard applirable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 The Finanual Reporting Standard appli¢2ble in the UK and Republic of Ireland, and the Charities Act 2011. The finanaal statements have b*n prepared under the historical cost convention. Income All income is recognised in the Statement of Finaniial Acbvities once th8 dprity has entrtleffEnt to the funds, rt is probable that the ino)me will be recerrfed and th8 aMcnI can be measurwj reliably. Expendlture Liabilities are recognised as experKliture as soon as there is a legal or construdwè oblig8tion committing the charity to that expenditure, il is probable that a transfer of eojnomic benefits will be required in Settlement and the amount of the obligation can be measured reliably. Expendtture 16 acc%>unted for on an acc¥uals basis and has been classified under headings that aggregate all )st related to th8 category. Where costs cannot be directly attributed to particular headings they have b88n allocated to actiVits on a basis consistsnt with the use of sOurces. Grants offered subject to corKlrtsons which have not been met at the year end date are rK)tsd as a commitment bul not a¢¢Tued as expenditure. Taxatlon The charity is exempt from tax on its tharitable adivitw. Fund accountlng Unrestricted funds can b8 U88d in accordan with the tharitabbe obJ"ectives at th8 dls¢retion of the Truste88. Endowment furKls repre8ent initial long temi fundlng of the Foundatson arKI are expendable at the Trustees, di8(xetion. Restricted furKls are provided for speafic purpose8. Forelgn exchange Assets and liabililies In foreign rrleS are translated into sterfing at the rate of exthange ruling at th8 balance sh8et date. Transactions in foreign ¢urrencyes are translated into sterling at the rate ruling on Ihe date of the transath'on. Exchange dfierences are taken into a¢crwnt in aFTiving at the net movement in funds. RAISING FUNDS Ralslng donatlons and legacles 2024 2023 Fundraising tharges C8rd handling fees Support costs 20,085 6,890 90 670 21,244 6,980 Page 6 continued...

Docusign Envek)pe ID.. EE43081 F4EBM1C1-A02&3A1 EB008B312 Mason Foundation Notes to the Financial Ststements - contlnued the Year Ended 31 Decem r20 TRUSTEES. REMUNERATION AND BENEFITS There were no bSte&s, remuneration or i)ther beneffts kn the year ended 31 December 2024 nor for the year end8d 31 D8cember 2023. During the year, no trustees r1ved reimbursemerrt of expenses (2023 . No trustee reLe1V reimbursement of expenses) COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivrriES Unrestricaed Endowment fund fund Total funds INCOME AND ENDOWMEpifs FROM Donats'ons and legacies 76,524 76,524 EXPENDITURE ON Raising funds 6,980 Charftable actlvltlas Chantae activ)ties 123,9TI 123,977 Totsl 130.957 130,957 NET INCOMEI(EXPENDITURE) (54,433) (54,433) RECONCILIATION OF FUNDS Totsl fvnds brought forward 59,127 59,827 TOTAL FUNDS CARRIED FORWARD 5,194 DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2024 2023 Other debtors 12,430 2,750 CREDITORS: AMOUNTS FAWNG DUE WITHIN ONE YEAR 2024 2023 Trade crediiors Other creditors 1,341 1,350 1,341 MOVEMENT IN FUNDS Net movement in funds At 31.12.24 At 1.1.24 Unrestrl¢ted funds General fijnd 46,280 50.974 Endowment fund8 Pemanent Endowmerrt Fund 500 TOTAL FUNDS 5,194 46.280 51,474 ntlnued...

Docusign Envelope ID.. EE43081 F4EBH1C1A02&3A1 EB008B312 The Mason Foundatlon Notes to the Financial Statements - continued forthey r Ended 31 December 2024 MOVEMENT IN FUNDS - contin1 Net rnovement in funds. induded in the abjve are as folkws.. In¢oming Resources expended Movement in fiJnds Unrestricted funds General fund 169,159 (122,879) 46,280 TOTAL FUNDS 169,159 (122,879) 46,280 C¢>mparallve8 for movemont In fund8 Net movement in fvnds At 31.12.23 At1.1.23 Unrestrlctsd funds General fund 59.127 (54,433) 4,694 Endovmiont fund8 Pennanent Endowment Fund 500 TOTAL FUNDS 59.627 (54,433) 5,194 Comparative net movement In funds, irLluded in the al>)ve are as follc6vs'. Incoming Resources Movement in fvnds Unrestricted furKI8 General fund 76,524 (130,957) (54,433) TOTAL FUNDS 76,524 (130,957) (54,4331 A current year 12 mnths and prior year 12 months combined kx)sit*)n is as folkhvs: Net movement in furKIs At 31.12.24 At1.1.23 Unrestricted funds General fvnd 59,127 (8,153) 50,974 Endowment funds Permanent Endowment Fund TOTAL FUNDS 59,627 (8,153) 51,474 Page 8 continued...

DosIgn Envelope ID.. EE43081 F4EBH1C1-A02W1 EBIJ08B312 Notes to the Financial Statements - conlin Year En ed31 2024 MOVEMENT IN FUNDS- continued A current year 12 months and pmr year 12 months (x)mbined net rnovement in fvnds. incJud8d In the abov8 are as follows.. lThxxniryJ Resources Movement experKI1 in funds Unrnstrlcted funds General fvnd 245,683 (253.836) (8,153) TOTAL FUNDS 245,683 {253,836) (8,153) RELATED PARTY DISCLOSURES During the year the Foundath)n made grants of £1(Ki,153 (2023 - £122,592) to Th6 Kay Mason Foundatlon South Afrio Twst. an assorAated tharity. IndUd debtor8 18 £12,430 <223 . £2.726) ¢Med to the company by The Kay Ma80n Foundats'on United Stales Trust, an associated Charity. Page 9

Docusign Env6lop8 ID.. EE43081F4EB441C1-A02&3A1EB008B312 Mason Foundation Detailed Statement of Financial Activities for the Year Ended 31 December 2024 2024 2023 INCOME AND ENDOWMENTS Donatlons and legacie8 Donations Gift ald 151,868 17,291 68.159 8,365 169,159 76,524 Total Incomlng resources 169,159 76,524 EXPENDITURE Raising donatlons and legacle8 Fundraising charges Card handling fees 20,085 6,890 90 20,574 6.980 Charltsble actlvltlos Subs¢riptions Grants to instiluti¢)n8 1,482 1(K),153 663 122,592 101,635 123,255 Support CO8ts Govornance co8ts A¢¢ountanw fee8 670 722 Total resource8 expended 122,879 130.957 Net Incomo1{expendlturn) 46,280 154,433) This page does not form part of the statutory financsal statements Page 10