Initially, Victor Daitz settled on the Foundation a valuable rent producing property in West Street, Durban.
The Foundation, which has always had an independent board of trustees, functioned under the Chairmanship of Victor Daitz from the time of its establishment until his death on 29 November 1999. He formulated and directed the principles by which it was to function.
He particularly wanted preference to be given to KwaZulu-Natal. In terms of his Will, Victor Daitz bequeathed the residue of his estate to the Foundation which, as a result, acquired substantial assets comprising properties, shares and other investments.
This synopsis reflects a wide range of beneficiaries, supported by the Foundation, from 1999 – 2022. In effect, the Foundation operates as a private community chest.
While the Foundation makes a major contribution towards the charitable needs of all community groups in South Africa, a significant portion of its funds are directed towards education and the needs of the historically deprived, disadvantaged groups of our society.