We announced at our AGM that Eastland Community Trust (ECT) has granted $400,000 to Sunrise to help cover administration costs for the five financial years 2020-2024.
We would like to thank ECT for their support, which will be a huge help as we strive to build a powerful taonga (treasure) for our community for generations to come.
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Tu ora ai tātou – Living well together
It has taken the Eastland Community Trust (ECT) 26 years to be in the position where we can now make over $10m in distributions annually, whilst preserving the Trust capital.
ECT got here through careful stewardship of the Trust funds, the steady growth of Eastland Group and a dose of patience spanning nearly three decades.
That is why our $400,000 distribution to the Sunrise Foundation is so important. As per their operating model, just one percent of each donation goes towards operating costs, the rest they invest, retaining the capital and generating income for grants.
While it’s a huge positive that 99 percent of all donations go direct to the community, it presents some challenges in running the Foundation in its early stages.
Therefore, the ECT distribution is specifically for operating costs for the next five years, so Sunrise can focus on the mahi they do, until they’ve grown large enough to be self-sufficient.
The Eastland Community Trust’s vision for community wellbeing is Tu ora ai tātou – Living well together.
This means living well at home, at work and in our communities, Sunrise tautoko community groups, organisations and initiatives that support Tairāwhiti- Gisborne to do just that.
It is also important to note that the purpose behind establishing Sunrise was to create a permanent community endowment fund that was governed locally, community focused and one that will benefit the region forever.
If Sunrise and other organisations like it are given
the support to succeed, we can grow our pool of local community organisations and funding avenues, so they’re able to do more, not just now but for generations to come.
For The Sunrise Foundation, the journey is only just beginning, and we are privileged, and excited to be a part of it.
Nga mihi,
Eastland Community Trust Chief Executive Gavin Murphy.