The people behind Rotorua's new charitable trust, The Geyser Community Foundation, deserve praise and credit for its launch last night.
As reported on page one today, the foundation will collect donations and bequests but, instead of giving that money straight back to the community, it will invest the capital and use
the returns of that for local causes.
Each new donation will increase the capital available to invest, boosting both the returns and the foundation's ability to contribute to the community.
The beauty of this concept is the capital remains as a growing nest-egg and it is the interest that benefits local people doing good and achieving in our community.
Two speech students, a school and a music competition became the first beneficiaries.
The foundation's trustees are a Who's Who of the Rotorua community and their efforts in getting this up and running are substantial and must be noted.
The Daily Post has also played a part, offering $10,000 worth of promotion and marketing for the cause. Others who helped and gave advice should also be proud of their involvement.
The key now is for Rotorua to really get behind it and make it work over the forthcoming years.
Anyone who has spare money to give or leave as a legacy for the good of the city now has the opportunity to do so.
The final result will hopefully be a richer Rotorua for us all.
What do you think? TELL US. Email editor@dailypost.co.nz, text 021 261 0010 or write to Editor, PO Box 1442, Rotorua.
