Sunrise Foundation cracks $5 million mark

A109 Light Utility Helicopter flight with mayor Gisborne City from the air in November 2023.

The Sunrise Foundation's endowments have grown to $5.2 million in the five years since the fledgling charity was set up.

Sunrise chairman John Clarke says it is due to the support of the local community that Sunrise has become the fastest growing community foundation in New Zealand.

“To say that reaching $5 million in our first five years has exceeded our expectations is an understatement. We are overwhelmed at the generosity of our donors and how quickly Tairawhiti has taken to the community endowment foundation concept.”

Sunrise is one of 17 autonomous community foundations throughout New Zealand, and although fairly new here, it has been around in the United and Canada for over 100 years.

Sunrise, like other charities, raises funds through donations and bequests. Where it differs is that all the donations are invested in endowment funds in perpetuity (forever). The interest from the endowment funds is granted back to charitable causes throughout Tairawhiti every year.

Sunrise executive officer Glenda Stokes says it is attractive to donors because all funds raised here stay here and are only used locally.

“People like to know their donation is going to stay here in our place, and not be sent off to head office in Auckland or Wellington to be used for other purposes.”

Donors can choose to donate to Sunrise's general fund, the income of which is granted to charities that apply for funding through Sunrise's annual funding round, or one of 43 special interest funds.

The special interest funds were set up in response to donor wishes and cover a diverse range of local charities. They are a guaranteed source of income for those charities that they don't have to apply for every year.

Sunrise marketing manager Kerry Taggart says the team at Sunrise are delighted with how quickly endowments have grown.

“Every year the amount of funding applications we've received far outweigh the money we have available to grant.

“We have seen first-hand how much need there is for more funding for our local community groups and charities.

“The bigger we can grow our endowments, the more money we will have to grant to those who need it most.”