Currently viewing: What we report on and why | Next: Message from our Chairperson

What we report on and why

The Directors of the NSRI present this Integrated Annual Report to provide our stakeholders, primarily donors and sponsors, with a view of our value creation and preservation in 2025. The report transparently outlines progress on our strategic journey towards achieving our vision of a water-safe nation.

Why we report

To enhance transparency and accountability
1

Demonstrates accountability to stakeholders by providing a transparent overview of our financial, operational and social impacts.

To build trust
2

Strengthens stakeholder confidence through consistent, detailed disclosures of outcomes and resource use.

To showcase impact
3

Highlights achievements aligned with our purpose, mission and vision.

To support funding
4

Attracts and retains donors, supporters and partners by demonstrating responsible governance and impactful initiatives.

To encourage reflection and improvement
5

Enables internal evaluation to refine our strategy and improve our performance.

To align with best practice
6

Meets stakeholder expectations to demonstrate integrated thinking in decisions and actions that uphold our credibility and reputation.

Scope and boundary

This report includes quantitative and qualitative data and information about the financial and non-financial performance of the NSRI's core operations, including community programmes, lifeguarding, rescue services and associated activities, from 1 January to 31 December 2025 (the financial year). Case studies illustrate performance outcomes and demonstrate value creation and preservation across the NSRI's activities.

Integrated reporting boundary

How we create
and preserve value
link Our strategy and performance
link Our business model
link Our leadership and governance
External factors influencing value creation and preservation
link Our stakeholders
link Our external operating environment
link Risks, opportunities and material matters

Financial reporting boundary

NSRI

Selecting information to include in this report

We aim to convey the essence of the NSRI, its growth and development. This report provides readers with a broad overview of our operations, insights into our strategy, our funding base, key risks and opportunities, and notable successes and challenges.

Integrated thinking in determining materiality

We apply integrated thinking to determine the relevant information to include in our reports each year. Our annual materiality determination process identifies matters likely to substantially impact the NSRI's capacity to fulfil our mandate to save lives. These matters are also deemed material for their impact over time:

Short term

One year

Medium term

Three to five years

Long term

Six to 10 years

link

Read more about our material matters.

Guidelines and frameworks

In preparing this report, we are guided by:

  • The Companies Act, 71 of 2008, as amended (Companies Act).
  • International Financial Reporting Standards guidelines for small and mediumsized enterprises.
  • The Integrated Reporting Framework.
  • King IV Report on Corporate Governance™ for South Africa, 2016 (King IV)*.
  • The supplement for non-profit companies (NPCs) included in King IV.
  • Broad-based Black Economic Empowerment (B-BBEE) Act, 53 of 2003.

During 2026, we will adopt the principles of the King V Report on Corporate Governance™ for South Africa, 2025 (King V).

* Copyright and trademarks are owned by the Institute of Directors South Africa NPC and all of its rights are reserved.

Ensuring the integrity of our reporting

Management prepared and verified the information in this report with oversight by the Board of Directors of the NSRI (the Board) and its relevant subcommittees including the Audit, Risk and Compliance Committee (ARCC), the Human Capital Committee (HCC), the Operations Support Committee (OSC) and the Investment Committee (IC). To enhance accuracy, integrity and comparability, some data from previous years was revised as updated information became available or as improvements in data collection methodologies facilitated more precise reporting.

Our business practices, governance and financial information are assured through compliance with audits and oversight by various regulatory authorities.

Assurance

Cecil Kilpin & Co. conducted an independent audit of our financial information in accordance with the required standards.

Balancing cost efficiency with transparency, we did not seek further independent verification of this report. However, the report and internal metrics were thoroughly verified internally.

Executive management, our ARCC and our Board assured themselves that all material aspects of the NSRI were covered comprehensively.

Oversight by various regulatory authorities provided further assurance of our business practices.

Board responsibility

The Board acknowledges its responsibility to ensure the integrity of this report.

The Board is confident that the 2025 report was prepared in accordance with the Integrated Reporting Framework, addresses all material matters and provides an accurate and balanced overview of the NSRI and our prospects.

All financial information was extracted from the audited financial statements.

The Board approved the 2025 Integrated Annual Report for publication on 15 May 2026.