A new $100,000 fund from Ngāti Kahungunu Wairoa Taiwhenua Incorporated has been transferred to the Hawke's Bay Foundation to help Wairoa members of the iwi.
Ngāti Kahungunu Wairoa Taiwhenua Inc, a charity that has represented the interests of tangata whenua in the Wairoa community for the past 30 years, currently has over 8700 people registered.
Chairman Nigel How said the fund, which will be safeguarded in perpetuity, will help enable the iwi to diversify and secure their funds, whilst also getting higher returns.
"An endowment fund provides for inter-generational support into the future for our charity by providing a secure, regular and permanent income source," he said.
"As our charity intends to be around forever, the endowment fund provides ongoing support for this. Ensuring responsible, long-term tenure of any charity or organisation is a duty of its board."
The charity's income from an iwi fishing settlement and by leasing out their own crayfish quota has traditionally been invested in term deposits.
How also said the importance of diversifying their investments has been further highlighted since the Covid-19 pandemic.
Ngāti Kahungunu Wairoa Taiwhenua Inc. was introduced to Hawke's Bay Foundation at a Funders Forum held in Wairoa in late 2019.
Hawke's Bay Foundation chair Giles Pearson said it was a delight to be working with Ngāti Kahungunu Wairoa Taiwhenua Inc.
"Our aim at Hawke's Bay Foundation is to provide local charities with sustainable long-term income, through the revenue generated from the investment of funds," he said.
"It is a privilege to provide this service for Ngāti Kahungunu Wairoa Taiwhenua Inc. and to support them into the future."
How said setting up the fund was straight forward and recommended others consider a similar pathway.
"I would absolutely recommend other people in our sector do the same with a community foundation in their area," he said.
"The base values of an endowment fund align with those of our own charity, which is Māori worldview based."
How added: "Ultimately, planning to take care of future generations is an ideal and goal both Hawke's Bay Foundation and tangata whenua share."
Community Foundations of New Zealand Executive Officer Eleanor Cater said the fund sets a wonderful precedent for iwi working with their local community foundation.
"It's really encouraging to see Ngāti Kahungunu Wairoa Taiwhenua Inc. acknowledging the longer-term picture in terms of an invested endowment fund, with income flowing back to iwi in perpetuity," she said.
"This partnership and ongoing mahi will contribute to self-sustainability, a surety of funding, for the future."