Q. How much does it cost to set up an endowment fund? A. There is no fixed charge to set up an endowment fund. We recommend a donation towards the operating costs of Acorn, and the amount of this will be discussed with you at the time you set up your fund. Acorn receives just 1% of the value of the fund annually for its operating costs.
Q. How much will the annual distributions be from my fund? A. Acorn aims to distribute between 3.5% and 5% of the value of the fund each year depending on the investment return achieved.
Q. Will my endowment fund be inflation proofed? A. The Trustees aim to at least maintain the real value of the fund over time.
Q. What if I change my mind about who receives distributions from my fund? A. You are welcome to change your instructions regarding distributions at any time. Please give the Acorn team a call to discuss your requirements.
Q. What happens if a charity I nominate to receive distributions ceases to operate once I'm gone? A. The Trustees will aim to make distributions to a charity with a similar purpose wherever possible.
Q. Who invests the money? A. Acorn appoints an Investment Advisory Committee (comprising 2 trustees and other experts from the field), whose role it is to oversee the investment policy and the performance of the Investment Manager. The Investment Manager is Craigs Investment Partners.
Q. Who runs Acorn? A. Acorn is governed by a voluntary Board of Trustees, who are appointed (not elected) by local territorial authorities and professional bodies. There is a paid staff of 4, all part time.
Q. Are there other Acorn Foundations in New Zealand? A. There is only one Acorn Foundation, but there are now 14 other regions with a community foundation like Acorn. Each is independent of the others, but all share ideas, under the umbrella of Community Foundations of NZ, of which Acorn is a member.