Hawke’s Bay Foundation’s endowment fund has posted a 57% increase in growth over the last financial year, the single biggest jump in growth since its inception.
The record rise follows a year of increased community support and the transfer in December 2021 of the Lusk Centre Trust valued at over $1.3M. As a result, Hawke’s Bay Foundation’s endowment fund has rocketed to $6.06M, (as at Dec 31).
The increased donations last year will see the total dollar amount distributed from the Foundation to charities within Hawke’s Bay increase by more than $50,000 in 2022.
As a not-for-profit organisation, Hawke’s Bay Foundation’s long-term approach to investment allows it to maximise returns through one centralised fund and ride out short-term market volatility.
Since its inception in 2012, Hawke’s Bay Foundation has received more than $5.1M in donations and distributed over $1.3M to approved Hawke’s Bay charities and causes. Last year alone, 53 local charities received grants from Hawke’s Bay Foundation to the tune of $195,000.
Hawke’s Bay Foundation Chairman Giles Pearson is confident the Fund’s growth will continue.
“This is a marathon, not a sprint. We know this model of collective giving works and it’s built to last. Now we just need more locals to recognise the good we are doing and get behind it.”
