Acorn Foundation's committment to our community was recognised at the 2011 Westpac Tauranga Business Awards on 4th November. Acorn received the award for Organisation of the Year at the gala dinner held at the new TECT Arena at Baypark Stadium. Acorn's deputy Chair Tracy Rea briefly shared the Acorn story with the 500 guests who included Tauranga Mayor Stuart Crosby, and MPs Tony Ryall and Simon Bridges.
A very exciting milestone for the Acorn Foundation.
Benefits of the Acorn Foundation
Choosing to provide for your community through the Acorn Foundation has many advantages:
Permanence: Your gift becomes part of a permanent endowment fund that will give to the Tauranga and Western Bay of Plenty community forever.
Simplicity: A single gift can address a wide range of interests and charities.
Flexibility: Your gift can be structured to achieve your charitable and financial planning goals.
Relevance: The Foundation works with local organizations to identify current needs in the community to ensure grants are always relevant.
Fiscal Responsibility: The funds are professionally managed by Craig Investment Partners to ensure good return at minimal cost.
Accountability: Community leaders are appointed as a volunteer Board of Trustees, to oversee the activities of the Foundation.
Tax Advantages: Donations during your lifetime result in tax savings for you.
Recognition: You can be recognized as a donor or remain anonymous. It’s up to you.
Benefits over a private charitable trust
- Many private charitable trusts do not have adequate provision for replacement of the initial trustees when they retire or die. By setting up a Named Endowment Fund, managed by the Acorn Foundation, you ensure enduring trusteeship.
- You do not have to worry about complying with the Charities Commission requirements or dealing with any of the administration or compliance matters involved with having a private charitable trust.
- In the long term, managing a single trust is very expensive. The Acorn Foundation manages multiple Named Endowment Funds together, providing economies of scale.
- Private charitable tusts can take considerable time to administer with ongoing decisions needing to be made about investments of the Trust fund and applications for funding.
If you have a charitable trust (or are considering establishing one) talk to Acorn about how we can help. Acorn can assist with compliance requirements, future Trustee succession planning and asset transfers for your Trust fund.
The Time Value of Compounding Interest
- We all know how a nest egg can grow in value over time. The same is true of your Acorn endowment fund.
- A $50,000 original donation will have generated $28,000 of distributions in 10 years, and over $220,000 in 50 years' time, when it will be worth 3 times its original value!
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