Frequently Asked Questions

FAQ

How much do you need to set up a Named Endowment Fund at the Porirua Foundation?
What are the tax benefits of donating to the Porirua Foundation?
What are the costs?
Where can I give out grants/what area do you cover?
Who decides which charities receive proceeds from my Named Endowment Fund?
Does my Named Endowment Fund need a separate set of trustees?
Communicating with Donors
Communicating with Recipients

Glossary of Terms

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How much do you need to set up a Named Endowment Fund at the Porirua Foundation?

  • A minimum of $50,000 for a Named Endowment Fund. This can be built up over a number of years or by bequest in your will.

What are the tax benefits of donating to the Porirua Foundation

  • Individuals can claim a tax rebate for donations, up to a maximum claim equal to their annual taxable income.
  • Companies can claim a tax deduction for charitable donations, limited only by the amount of the company's net income.

What are the costs?

  • We try and keep our costs to a minimum. We charge a fee for the administration of your Named Endowment Fund. This includes all administration, grant assessment and investment management. Fees are capped at 1% of the capital of the Named Endowment Fund (deducted from the proceeds of earnings).
  • We ask that donors consider contributing to establishment costs of their Named Endowment Fund, a one-off fee of $5000, payable when the legacy is received by the Porirua Foundation.

Where can I give out grants/what area do you cover?

  • Grants are made to charitable organisations and purposes in the Porirua region.

Who decides which charities receive proceeds from my Named Endowment Fund?

  • The Porirua Foundation works alongside you and your advisers to identify the recipients of grants from your Named Endowment Fund. All grants are ratified by our Board of Trustees.

Does my Named Endowment Fund need a separate set of trustees?

  • Separate set of trustees are not required, all the grants are ratified by our Board of Trustees and are made according to the terms of your endowment.

Communicating with Donors

  • Each year the Porirua Foundation hosts a Supporters Event where the Board presents a report on the activities of the Porirua Foundation.
  • Named Endowment Fund donors receive an annual report on investment and disbursements of their fund.
  • A regular newsletter is sent to supporters of the Porirua Foundation and to legal and accounting professionals practicing in our region.
  • With your permission, donor names are publicised annually in the Kapi-Mana News and on the Porirua Foundation website.
  • We welcome your comment and enquiries, contact us anytime.
  • Our executive officer is available to meet with you, email donation@poriruafoundation.org.nz

Communicating with Recipients

  • Grant recipients are publicised annually in the Kapi-Mana News and are listed on the Porirua Foundation website.
  • Recipients are advised which Fund the gift has come from.
  • We welcome your comment and enquiries, contact us anytime.
  • Our executive officer is available to meet with you, email donation@poriruafoundation.org.nz