05 Mar 2024

Game-Changing Donation Propels Katikati Acorn Fund into Action

Game-Changing Donation Propels Katikati Acorn Fund into Action

In a groundbreaking development for Katikati, we are pleased to announce that the Katikati Acorn Fund will begin distributions to the community later this year. This initiative, which began with a $22,000 donation from local community group Project Generate in 2022, has taken a significant leap forward thanks to a recent extraordinary donation.

Project Generate, formerly known as SuperGrans WBOP, faced challenges due to the impacts of the Covid-19 pandemic and made the tough decision to cease operations in 2021. However, in a commendable move, the organisation contributed its remaining funds – $22,000 – to the Acorn Foundation to benefit the Katikati community.

Emily Goulding, Acorn’s Corporate & Community Manager, explained, “The effects of Covid-19 changed the community landscape significantly. Despite Project Generate’s efforts to persist, they ultimately decided to wind up operations. Their remaining $22,000 donation was invested in an endowment fund by the Acorn Foundation, ensuring a perpetual source of support for Katikati.”

Acorn endowment funds are invested in perpetuity, with a portion of the investment returns distributed to charitable causes annually.  The remainder of the returns are reinvested, to preserve and grow the capital in the fund. This strategic approach allows a single generous donation to perpetually contribute to the community's well-being – an enduring legacy that continues to give back, year after year.

Over recent months, the Acorn Foundation have been seeking the community’s backing to help the Katikati Acorn Fund reach $50,000 – a threshold that activates the fund’s granting mechanism. Remarkably, an anonymous local couple stepped forward last week, contributing $50,000 and catapulting the fund total to $75,000.

“This generous donation means that the Katikati Acorn Fund can begin making grants this year,” says Emily. “Without it, reaching the $50,000 threshold solely through reinvesting returns could have taken up to 12 years.”

Sally Goodyear, Business Administrator at Katikati Community Centre, shared, “This fund marks an exciting development for our community. Any charitable cause benefitting the Katikati community will be able to apply for a grant, and anyone can contribute to the fund, making it a fantastic opportunity for local people to support local charitable causes in perpetuity.” 

“The beauty of the Katikati Acorn Fund is that it will keep on giving back to the community – forever,” emphasised Emily. “We invite passionate Katikati residents to consider contributing to the fund, either during their lifetime or by including a gift in their will. This is an extraordinary chance for locals to play a crucial role in supporting Katikati’s well-being for generations to come.”

The fund will accepting applications from Katikati-based community groups and charities later in the year. More details will be shared in due course.

Donate to the Katikati Acorn Fund here. Together, let’s build a legacy of support for Katikati that will endure indefinitely.

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