In a significant step towards ensuring its future sustainability, Coastguard Gisborne has established an endowment fund with Sunrise called ‘Gisborne Volunteer Coastguard Endowment Fund’ as an alternative avenue of guaranteed, reliable funding.
Aaron Boyle, a dedicated skipper on the vessel Gisborne Lion Foundation Rescue, expressed confidence in Sunrise’s endowment model, “It's an excellent way to create an enduring legacy that will offer more return as time goes on and the endowment grows. It’s all about long-term sustainability and security of funds,” Aaron said. “At the same time, it enables us to build up funds towards major capital replacements such as an upgraded rescue vessel or renovated buildings as needed in the future.”
Coastguard Gisborne have been offering their services in the region for almost 40 years.
Coastguard’s maritime search and rescue operation is powered by dedicated, highly trained volunteers who work in collaboration with government-led search and rescue services. Currently, only 40 per cent of Coastguard’s total national operational costs are government-funded, leaving the charity reliant on grants and donations to cover the shortfall. The local unit’s committee believes an endowment fund will secure some of the necessary funding required to maintain their specialised equipment and support their essential 24/7 operation.
Glenda Stokes, Sunrise CEO, says the fund represents guaranteed funding for the local unit but is also a call to action for the community. “Those who contribute are joining a legacy that has saved lives in the region for almost 40 years.”
Glenda emphasised the importance of community involvement and reassured that all donations will remain local, supporting Coastguard Gisborne to be, “a trusted presence and support on the waters of Gisborne-Tairāwhiti.”
As the fund grows, it will provide a guaranteed source of income for the local unit. Donations made to Coastguard Gisborne’s endowment fund are invested, protected and inflation-proofed, with surplus investment income returned to them each year.
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