Sunrise, a community endowment foundation, was launched by Sir Stephen Tindall in October 2014.
What is a community foundation?
Although new to New Zealand, community foundations are the fastest growing form of philanthropy worldwide and have been operating successfully for over 100 years in North America.
Sunrise is one of fourteen community foundations in New Zealand.
Community Foundations New Zealand and The Tindall Foundation provide guidance, encouragement and sharing of resources.
What is an endowment?
The strength of the endowment model is that all donations and bequests are invested and grown.
Each year enough is retained to ensure that the endowments grow in line with inflation, the surplus is available as grants for charities and organisations in the Gisborne District.
Your donation is protected and inflation proofed so that it will keep on working for our community forever.
Who runs Sunrise?
Sunrise is governed by a voluntary board of trustees. The appointment process ensures there will be sound management of the donor capital and an informed distribution of funds. Read more.
An Executive Officer is also employed as the face of the foundation and acts as a crucial link between the Board and the community. Read more.
How is Sunrise funded?
Sunrise is a not-for-profit organisation, and all trustees and committee members are volunteers. There are however operating costs, and the Board works hard to ensure that administration and investment management costs are kept to a minimum.
Due to the generosity and support of the local J N Williams Memorial Trust, Eastland Community Trust and Clark Charitable Trust, the establishment and operating costs of The Sunrise Foundation are covered for the first five years. Following that initial period, no more than 1% of the value of endowment funds may be used for ongoing operating costs.