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Home / Business

Aid comes first for sponsor

1 Oct, 2003 09:15 AM2 mins to read

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By SIMON HENDERY

Hanover Group executive chairman Mark Hotchin says his company isn't banking on a financial return from a newly signed sponsorship agreement with Alzheimers New Zealand.

Hanover is giving $50,000 to Alzheimers NZ over the next 12 months, but both organisations agree that a more important part of the deal is the company's commitment to share its management skills and marketing power with the charity.

Hotchin said Hanover believed it could make a difference to Alzheimers NZ by helping to create a marketing infrastructure it could use to help it raise money.

"It appeared to be a business that was very immature in its structure, so we thought it was a great opportunity to be able to put some resource - financial and staff - into it to create a platform that would allow them to better deal with the problems of Alzheimer's rather than constantly trying to work out where the next dollar was coming from."

After a search for potential charity partners, Hanover chose to work with Alzheimers because it believed the agency was seriously under-funded and because it was a cause Hanover's clients were likely to have an affinity towards because of age bracket it generally affects.

The average age of the investment group's depositors is late-50s.

The company sends about a million letters and newsletters to clients each year, and will use space on those mailouts to promote the charity.

Hotchin also sees the sponsorship as a positive venture for Hanover staff to become involved in.

"The expectations of financial reward [for Hanover] aren't that substantial, although I do think there is some benefit of being involved in charitable organisations," he said.

"More importantly both myself and the company feel that we have an obligation to the community. It's something we want to get involved in to help."

Alzheimers national president Wendy Fleming said she was excited by the opportunity to take advantage of the services Hanover was offering.

"I can see that with their expertise we will be able to more effectively get sustainable funding, which is what we really need."

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