The Tauranga Volunteer Coastguard Endowment Fund
This fund is a partnership between TAURANGA COASTGUARD and the ACORN FOUNDATION.
What is an Endowment Fund?
An endowment is a sum of money that is invested, so that the capital sum is not spent, but it generates an annual income stream.
How does it work?
Acorn Foundation are endowment specialists. When a donation is made to them on behalf of Tauranga Coastguard, it is invested with the rest of their portfolio, by investment specialists Craig’s Investment Partners. They invest in many different areas, so that the capital isn’t exposed to large fluctuations in certain sectors of the financial market place. Each year the return on the investment is available for both distribution by Acorn Foundation and reinvestment into the overall portfolio.
How does Tauranga Coastguard Benefit?
Each year, from the returns on the investment, 5% of the total amount of the Tauranga Coastguard Fund, is given to them directly as a donation, 1% goes to cover Acorns Administration costs, and the remainder is reinvested in the fund. Tauranga Coastguard can use the donation to help fund its day to day operating costs.
Why does Tauranga Coastguard need the money?
Tauranga Coastguard is run by volunteers, dedicated to helping people on the water, both in the form of rescues, and providing a radio service so that boats can keep in touch with the shore, so they know someone is always there should they need help. Coastguard also has a strong belief in the power of education, and has a desire to be there to help people acquire the knowledge they need before they take to the water. Providing this service costs money, and being a charity it all has to be raised by the organisation itself.
Why have an endowment fund?
These days it is getting more and more difficult to find sustainable income streams, and this in one method where by a guaranteed income is received each year, to compliment all the other fundraising activities that are undertaken. It is a dream that one day Tauranga Coastguard might be able to be fully self-funding through the use of sensible investment.
Who can help?
Everyone can help. By making a donation right now, of any size, that money is working straight away towards the long term success of Tauranga Coastguard, and will be working forever more.
Alternatively you can decide to leave a legacy in your will, so that your memory will always be a part of the organisations future success.
What do I need to do if I want to help?
To donate to the Fund you do not need to give the donation to Tauranga Coastguard first. Instead the donation should be made directly to the Acorn Foundation, stating that it should go to Tauranga Coastguard Fund.
Acorn will give issue you with a receipt, which will entitle you to a Tax Credit for 33% of the amount you donate, or in other words, for every $3 you donate, you will get $1 back.
You can get more information about gifting to the Endowment Fund by:
Thank you for your support.