Benefiting from an economy of scale, plus having access to Nikau Foundation’s investment expertise were just two reasons for creating the Porirua Fund.
The new fund will enable Nikau Foundation to grow its presence and impact in the Porirua region. It was established after an external review commissioned by trustees of the former Trust Porirua, found the Community Foundation model would be a more efficient way of managing $5 million of community assets they oversaw.
“Trust Porirua and its assets needed to get to a place where they could work effectively for Porirua, with maximum returns to the community. The decisions made as a result of the review helped secure the future of funding for the Porirua region in a sustainable way,” says former Trust Porirua Chair and current Porirua Fund committee member, Tim Sheppard
Establishing a fund within Nikau Foundation meant also meant additional savings on trustee fees, Public Audit Office and trustee election costs – and that meant more money for the Porirua community.
The decision to create this new fund was a no-brainer says committee member, Eleanor Carter.
“Under this new structure the Porirua Fund will be able to return more than three times as much to the Porirua region as it did in its previous form. That’s great for our community…
“It’s reassuring to know that, by partnering with the Nikau Foundation, our community’s assets are ring-fenced for local benefit, and will be safeguarded and grown.”
The committee overseeing the new fund are a diverse group of local people who love Porirua and working with community groups to help to shape their city’s future.
Chair, Rebecca Morahan, says the new fundwill have real, lasting benefits for the region and its peoples.
“The Nikau Foundation Porirua Fund brings new and exciting opportunities to our community … The dream is that Porirua will be positively transformed forever through the power of local generosity.”