Our Co-founder, Stephen Tindall, was there to help launch Te Awa Foundation in Palmerston North in April. New Zealand’s 17th Community Foundation, Te Awa will benefit the Horizons District – encompassing Palmerston North, Manawatu, Rangitikei, Tararua, Horowhenua, Whanganui and Ruapehu.
Te Awa Community Foundation will cover a big area and it will have equally big potential for harnessing the region’s generosity, connected to its sister Foundations in 16 other locations. It hopes to emulate the success Community Foundations are seeing in other parts of the country and, through local generosity, build a local fund that will see the community taking charge of its own needs.
The Tindall Foundation has supported the establishment and growth of Community Foundation since 2002 when it supported the launch of Acorn Foundation in Tauranga which today has a fund in excess of $27m and anticipated bequests of $240m, all for the future benefit of the community of the western Bay of Plenty.
Community Foundations have been growing in New Zealand for the past 15 years and are becoming transformational in local communities. There is $120m in funds under management with anticipated funds of $360m. In the past five years, Community Foundations have given out over $20m to local causes.
The Te Awa Community Foundation inaugural Chair, Clive Pedley, agrees. He says that having observed the success other Community Foundations in New Zealand they can see the Horizons region really embracing this idea.
“We know and see that people in this region really love their local communities and want a way to give back. The Te Awa Community Foundation will enable them to do this. It’s going to be a very powerful force for good and we are encouraged by the early response we have received”, says Chris.
The role of Community Foundations in New Zealand is to encourage and assist Kiwis to be generous communities and leave legacies that have lasting impact. Their role is to manage endowment funds where the capital is maintained and a percentage is paid out each year to an organisation chosen by the giver or through a general untagged fund.
Says Stephen Tindall, “When you give through your local Community Foundation, your donation is invested and grown, continually earning to create a reliable, long-term funding stream that supports local causes year on year, forever. You can help positively transform your community through the power of local generosity.
“Community Foundation’s provide a simple and effective way to support the communities and causes that are important to you.”
Community Foundations of New Zealand Inc, which started in 2012 to help establish and promote CFs throughout the country.