Supporters of a Gisborne-based community foundation gave a massive push to help it achieve the milestone of $10 million raised.
The Sunrise Foundation announced this week almost $2m had been raised since March 2024 to reach the goal it set for its 10th anniversary.
Sunrise Foundation was launched by Sir Stephen Tindall in October 2014 and is one of one of 18 independent community foundations in New Zealand.
All donations to the foundation are pooled and invested into long-term endowment funds in perpetuity.
Each year a portion of the income is retained to “inflation-proof” the fund and ensure growth, while the surplus investment income is granted to charities, organisations and needy causes in Tairāwhiti during the foundation’s annual funding round.
Over the last 10 years, Sunrise has granted over $1.8m throughout the region, $525,000 of that in last year’s funding round.
Sunrise Foundation chief executive Glenda Stokes said the $10m target was ambitious and attributed the success to the generosity of donors.
“Whether it’s $5 a week by automatic payment, the establishment of a fund or a gift in someone’s will, our donors have all played a part in this remarkable growth,” Stokes said.
“A huge thank you to everyone involved over the years, including donors, trustees, committee members and supporters – you are all a part of this achievement.”
She said new goals had already been set and the focus was on growing endowments to secure long-term sustainability and increase the impact the foundation had now and in the future.
The Sunrise Foundation ran its orange-themed Sunrise Week initiative in November as part of the drive to reach the milestone.
A minimum $50,000 is required to seed a fund with Sunrise, and over the past year eight new funds have been established, bringing the total number of funds since 2014 to over 60.
A statement from the Sunrise Foundation said this demonstrated the ongoing trust and confidence of community groups and organisations.
The statement said the $10m milestone was “not merely a financial achievement but a platform for further growth, positioning the foundation to further expand its granting capabilities and amplify its positive impact throughout the region, both now and for many years to come”.
Local organisations and initiatives linked to Sunrise Foundation include Lion Foundation Coastguard Gisborne, which has set up an endowment fund, and the annual Wheels of Hope initiative, which involved giving a free refurbished car to one local in need.
As a community foundation, Sunrise can only retain 1% of endowment value each year to cover operating costs.
Funding from Trust Tairāwhiti and Clark Charitable Trust, as well as corporate sponsorship, assists with operational costs.
Sunrise Foundation is governed by a local board and supported by Community Foundations Aotearoa New Zealand and the Tindall Foundation.
Applications for the annual funding rounds are open to charitable organisations in Tairāwhiti and organisations delivering charitable projects in the region.
Funding applications are assessed by the Sunrise Grants Committee.
