Lifesaving rides new wave of funding

POTENTIAL TO GROW: Surf Life Saving Gisborne has transferred its assets into an endowment fund administered by Sunrise Foundation, a decision it believes will provide “very real potential” to grow dramatically. From left are Sunrise vice-chairman Colin Christie and chief executive Glenda Stokes and Surf Life Saving Gisborne Charitable Trust trustees Brian Wilson and Lyall Evans.
Picture by Markus Brunner

SURF Life Saving Gisborne Charitable Trust is winding up and transferring its assets to the newly-established Surf Lifesaving Gisborne Endowment Fund at the Sunrise Foundation.

SLGCT was formed seven years ago when considerable changes in Surf Life Saving New Zealand disestablished district surf lifesaving associations around the country and centralised tasks.

Local clubs decided to form the trust to manage the residual assets of the local association, which had come from historical local bequests.

SLGCT trustee Lyall Evans said the trust was formed with the purpose of providing long-term support to the surf lifesaving movement in Gisborne, but resources meant the trust had been limited to what it could achieve.

Mr Evans said trustees, after consultation with Gisborne club chairs, agreed to transfer assets into an endowment fund that provided the “very real potential” for it to grow.

Fellow trustee Brian Wilson said they could also see the substantial benefit of the professional administration and investment Sunrise offered.

“Being part of something a lot bigger brings better return opportunities and is less risky. Small funds don’t have the opportunity or means to diversify as much as a large fund.”

Trustee Murray Kemp said that the way the new fund at Sunrise was structured meant the club still had input into how the fund’s income was distributed and could advise the Sunrise grants committee on future grants.

“With clubs making recommendations, this ensures local expertise and understanding of surf lifesaving needs in our district will be taken into account.”

Sunrise vice-chairman Colin Christie said the foundation’s depth in investment expertise and the attraction of the Sunrise model for donors would help the fund grow to be a valuable source of funding for surf lifesaving.

“Sunrise achieved a return of 8.1 percent on investments in the 2017 financial year, a strong performance in today’s economic climate, and has received nearly $2 million from local donors in three years.

“We are excited we can now offer donors the opportunity to make donations and bequests to the surf lifesaving fund and are confident we can grow it into a truly meaningful legacy to those who worked so hard to raise the funds that created it.”

Sunrise chief executive officer Glenda Stokes said the foundation’s investment model would provide continuity and growth for the fund.

“At Sunrise we invest, protect and grow all donated funds to keep up with inflation. Once we have done that, we use the remaining investment income to award grants. We also do considerable work in our community to encourage donations.

“I know surf lifesaving is dear to the hearts of Gisborne people, and once people are aware of the new fund, I’m confident we will see donations and bequests grow.”

SURF Life Saving Gisborne Charitable Trust is winding up and transferring its assets to the newly-established Surf Lifesaving Gisborne Endowment Fund at the Sunrise Foundation.

SLGCT was formed seven years ago when considerable changes in Surf Life Saving New Zealand disestablished district surf lifesaving associations around the country and centralised tasks.

Local clubs decided to form the trust to manage the residual assets of the local association, which had come from historical local bequests.

SLGCT trustee Lyall Evans said the trust was formed with the purpose of providing long-term support to the surf lifesaving movement in Gisborne, but resources meant the trust had been limited to what it could achieve.

Mr Evans said trustees, after consultation with Gisborne club chairs, agreed to transfer assets into an endowment fund that provided the “very real potential” for it to grow.

Fellow trustee Brian Wilson said they could also see the substantial benefit of the professional administration and investment Sunrise offered.

“Being part of something a lot bigger brings better return opportunities and is less risky. Small funds don’t have the opportunity or means to diversify as much as a large fund.”

Trustee Murray Kemp said that the way the new fund at Sunrise was structured meant the club still had input into how the fund’s income was distributed and could advise the Sunrise grants committee on future grants.

“With clubs making recommendations, this ensures local expertise and understanding of surf lifesaving needs in our district will be taken into account.”

Sunrise vice-chairman Colin Christie said the foundation’s depth in investment expertise and the attraction of the Sunrise model for donors would help the fund grow to be a valuable source of funding for surf lifesaving.

“Sunrise achieved a return of 8.1 percent on investments in the 2017 financial year, a strong performance in today’s economic climate, and has received nearly $2 million from local donors in three years.

“We are excited we can now offer donors the opportunity to make donations and bequests to the surf lifesaving fund and are confident we can grow it into a truly meaningful legacy to those who worked so hard to raise the funds that created it.”

Sunrise chief executive officer Glenda Stokes said the foundation’s investment model would provide continuity and growth for the fund.

“At Sunrise we invest, protect and grow all donated funds to keep up with inflation. Once we have done that, we use the remaining investment income to award grants. We also do considerable work in our community to encourage donations.

“I know surf lifesaving is dear to the hearts of Gisborne people, and once people are aware of the new fund, I’m confident we will see donations and bequests grow.”

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