A crowd gathered at Waimate’s historic Quinn’s Arcade on Tuesday night for the launch of the Waimate District Fund - a new community fund that pools donations and distributes the interest earned as grants to support local projects.

Speakers included Mayor Craig Rowley, Waitaki MP Miles Anderson and Raewyn Francis, Chair of the Waimate District Charitable Foundation (WDCF).

The evening also showcased Quinn’s Arcade itself, with the heritage building providing a fitting backdrop for a fund focused on long-term investment in the district’s future.

Lorraine Shortus, Sheryl Frew, and Rick and Steph Stevens represent a cross section of local business and community groups.

Investing for long-term good

The Waimate District Fund is set up as a permanent endowment fund, which means that every contribution - whether given now or left as a gift in a will - is invested and grown, and the annual returns are given out as grants to local causes every year.

It’s designed to support projects across the district - from upgrading community spaces and backing youth initiatives to improving public amenities and celebrating local heritage.

Richard Spackman, Chief Executive of the Aoraki Foundation, is a passionate South Cantabrian who believes strongly in the power of community funds - and backs that belief with action. Along with his wife, he established the Financial Literacy Fund and has committed a percentage of his wealth to the community as a bequest. He said his greatest hope is that it will inspire his children to think the same way.

While acknowledging that everyone’s circumstances are different, he encouraged those attending to consider the long-term impact of starting a fund now.

“One day,” he said, “people will look back and say, ‘look at what they did - look at what they started.’”

To illustrate the potential scale, he described that if an endowment fund grew over time to $20 million in capital, it could generate more than $750,000 annually in grants.

For a district the size of Waimate, he said, that level of future funding could be transformative.

From Aoraki Foundation: Board member Jo Goodhew, Gift and Community Advisor Kirsty Burnett, CE Richard Spackman and Chair Greg Anderson.

A partnership built locally

The fund is the result of three years of planning between the Aoraki Foundation, which will manage and invest the fund, and the WDCF, which will distribute the grants locally.

The WDCF is made up of six local representatives who represent the four wards of Waimate District. The motto, according to Chair Raewyn, has always been ‘give where you live’.

“Those simple words capture something powerful. They reflect the belief that local people understand local needs best and that when we invest in our own community, the benefits ripple outwards - strengthening families, organisations and future generations.”

Partnering with Aoraki Foundation offers this fund a secure future. The fund is designed to outlast any one committee, donor or generation - it’s a way for today’s contributions to shape Waimate’s future.

Similar community endowment funds managed by the Aoraki Foundation are already operating in Temuka and Mackenzie.

WDCF Chair Raewyn Francis addresses the crowd.

Create a legacy from your generosity

Investing in the fund is investing in the future of Waimate, according to Raewyn.

“Whether you are able to give a small amount on a regular basis, make a one-off donation, or leave a bequest in your will, every contribution matters. Each gift helps to grow the Waimate Fund and strengthens the foundation upon which our community stands”.

Tuesday night’s launch marked the beginning. If it grows the way other funds have, it could change what’s possible for Waimate in the decades ahead.

If you are interested in making a donation or leaving a gift in your will please contact Kirsty Burnett: kirsty@aorakifoundation.org.nz . Or visit Waimate District Fund — Aoraki Foundation for more information.

Did you know…

Donations are eligible for a 33 per cent tax credit - meaning you can potentially get a third of the donation back at the end of the tax year, while the fund retains the full amount.