Karamu High School principal Dionne Thomas said a donation of $100,000 towards an endowment fund was a remarkable gift from a treasured Tira Ora. Photo / Supplied
Karamu High School principal Dionne Thomas said a donation of $100,000 towards an endowment fund was a remarkable gift from a treasured Tira Ora. Photo / Supplied
Karamu High School has been given a $100,000 donation by a former student.
Principal Dionne Thomas said the donor was known to the school, because he donated regularly, but had wished to remain anonymous.
He set up his own "Karamu High School Fund" to the tune of $100,000 through Hawke'sBay Foundation.
Thomas said it would help the school for years to come as similarly to other Hawke's Bay Foundation funds, donations were invested professionally as an endowment fund.
"The capital donation is never touched, instead the income gained on the fund is distributed every year, in this case, Karamu High School, and we will receive our first small income in 2023."
"As set out in the fund's deed, it is 'to provide financial support to Karamu High School for the benefit of its students in their academic, cultural and sporting activities'," she said.
"It is envisaged that the fund would be used for items such as equipment, improving school facilities, learning materials, team activities and scholarships."
The newly named fund would provide financial support in perpetuity to the school for the benefit of its 900-plus students in their academic, cultural and sporting activities.
Thomas said it was a remarkable gift from a treasured Tira Ora (alumni of Karamu) which would be there forever to benefit the school's students.
Hawke's Bay Foundation executive officer Amy Bowkett has worked with community foundations for several years but said it was not every day someone like this "comes out of the woodwork".
"The Karamu High School Fund is the first of its kind here in Hawke's Bay. We are very grateful to our donor for giving us the opportunity to support Hastings' first co-educational high school in perpetuity.
"Having an endowment fund ensures the school will receive a guaranteed income annually, that will grow over time."
Karamu High School opened in 1962 - a time when Hastings and its suburbs were undergoing significant growth.
At decile 4, it has one of the largest school rolls in Hawke's Bay and a team of 70 staff.
In a brief statement, the anonymous donor said he envisaged the fund would be for items such as equipment, improving school facilities, learning materials, team activities and scholarships.
"My hope is that this fund will be supported by other school alumni or current students, growing in value over the years to become a significant source of extra funds for the school. I certainly appreciated the start Karamu gave me in life."
