Parksyde will benefit from the new endowment fund established by the Older Persons Community Centre Trust with the Geyser Community Foundation.
Trust Chair, Peter Fitchett said the new Fund will benefit Parksyde the community centre for people aged 55 and over year on year, forever.
Parksyde is a charitable organisation run by the Older Persons Community Centre Trust.
The only one of its kind in Aotearoa New Zealand, Parksyde is unique.
Mr Fitchett said Parksyde caters for the social, recreational, health and educational needs of local people aged 55 years and over.
It will celebrate its 21st anniversary on 5 November 2022.
“We receive no government funding, we rely completely on funders, and support from local businesses and individuals to operate.
“Donations made to the fund will be managed by the Geyser Community Foundation and the capital retained forever.
“Establishing a fund with the Geyser Community Foundation provides a special and powerful way for trustees, volunteers and those passionate about Parksyde, as well as the active seniors who use the facility to make contributions, including bequests and endowments in wills at any time.
“Once our Fund reaches its investment target, the interest earned will help provide long-term financial stability and sustainability of this valuable facility for active seniors in our local community.”
Geyser is responsible for the administration, investment, compliance and governance of the fund, on behalf of the Older Persons Community Centre Trust.
“Trustees are delighted to be able to announce the launch of the Fund at the special celebration this weekend.”
Donations of any size can be made at any time on the Geyser website: https://geysercf.org.nz/donate/
Geyser’s Chairman, Helene Phillips said the Foundation was honoured to have been chosen by the Older Persons Community Centre Trust to manage the fund in perpetuity.
“Community foundations are the fastest growing form of philanthropy in the world.
“We’re different because we’re not about one single cause: we’re about a place and its people.”
Based on a well-established, globally successful model, the network has been growing in Aotearoa New Zealand since 2003.
“Community foundations are independent, not-for-profit organisations run entirely by volunteer boards made up of local people; we run a lean model so we can keep fees low.”
(8/11/22)