Press release from Age Concern Nelson Tasman and Top of the South Community Foundation
A new investment fund is set to improve the quality of life and wellbeing of older people across Nelson Tasman in the long term.
The AgeConnect Nelson Tasman Fund has been set up by local charity Age Concern Nelson Tasman (ACNT) and Top of the South (formerly Nelson Bays) Community Foundation.
It is an endowment fund (funded through bequests and donations) that will, over time, grow capital to provide a source of income to support the work of ACNT.
Nick Moore, Chair of Top of the South Community Foundation, said: “We are delighted to partner with Age Concern Nelson Tasman to set up this fund that will assist with ACNT’s sustainability through an investment strategy that assures an ongoing source of future income.
“As The AgeConnect Nelson Tasman Fund grows through donations, it will provide a source of income which will help relieve some pressure on ACNT staff to rely on funding grants for operational expenses. This will allow ACNT staff and volunteers to have more time to focus on their core purpose: helping to improve the quality of life and wellbeing of older people across the Nelson Tasman region.”
Age Concern Nelson Tasman provides a range of services to older people in the region including an accredited visitor service, elder abuse response service, social activities and events, carer relief, and a mobility scheme.
The Very Rev. Charles Tyrrell, Chair of Age Concern Nelson Tasman, said: “When the Board was introduced to Top of the South Community Foundation’s ability to assist community organisations with their own endowment funds, we identified that this aligned well with our need to be sustainable as an organisation.
“Pooling our donations into a professionally invested fund will allow us to get maximum return and be assured of a perpetually growing source of income which will provide well for ACNT now and well into the future. This is a future proofing that we would not have been able to achieve on our own.”
Nick Moore added: “Community Foundations are well regarded for their expertise in strategic philanthropic giving, investment management, grant making and community knowledge. Choosing to create an endowment fund with the Foundation has given ACNT a platform for multi-generational philanthropy and community impact. We are delighted to assist ACNT with their initiative to secure a sustainable source of future funding and thank them for their confidence.”
The AgeConnect Nelson Tasman Fund is an active endowment fund and will begin providing investment income to ACNT within 12 months. Any donations to the Fund will immediately benefit ACNT’s activities.
Those interested in donating to The AgeConnect Nelson Tasman Fund or including a bequest to the Fund in their Will are encouraged to contact either Top of the South Community Foundation on (03) 546 6323 or [email protected], or Caroline Budge, Manager, Age Concern Nelson Tasman on (03) 544 7624 or [email protected]