What is Momentum Waikato all about?
Published on 8 August, 2019
Kelvyn Eglinton, Momentum Waikato Chief Executive
The current team at Momentum Waikato have now been working together for a bit over 12 months – laughing, collaborating, researching, hosting events, telling our stories, meeting people and generally pursuing our vision ‘for a better Waikato for everyone forever’.
Throughout, we have been steadily increasing our reach and the region’s understanding of who we are and what we do. However, there are still a lot of people we meet who, at best, are only aware of just one part of our business. So, if you’re asked, here’s our story for you to relay.
Momentum Waikato is a Community Foundation and exists to link generous donors to local causes that matter to them.
Our objectives?
To grow an Endowment Fund for the Waikato so the region can address its own needs and initiate its own projects, by using its investment income to support proven local changemakers who just need the resources to ‘move the dial’ on critical social and environmental challenges.
The goal is for the Endowment to reach at least $300 million in 30 years, with the immediate target of $25 million by the end of 2020. We’re doing this, first and foremost, by working with potential donors to introduce them to the idea that they can benefit their region and the local causes they care about by leaving a bequest in their Will, or through one-off or regular on-going donations now.
The main income stream from our Endowment provides the grants for our Vital Impact programme, based on Vital Signs research into the region’s needs, held once every three years, the next one is in 2020.
We can also facilitate and manage ‘named funds’ for individuals, families, giving circles, not-for-profits, businesses and localities, wherein accumulative donations of $50,000 or more become a dedicated pot of money earning income within our wider Endowment, from which grants are then aimed at the donors’ choice, and towards which others can also donate.
One application of the named fund concept is our assistance to trusts and not-for-profits that are struggling to earn a useful return on their capital or carry out compliance processes. They can ensure their trust’s objectives continue in perpetuity and their funds are secured and continue to grow by a ‘trust transfer’ of their assets to Momentum Waikato’s management and care.
We already host a number of targeted named funds driven by dedicated governance teams and/or giving circles from the community. So far these are the Waikato Women’s Fund aimed at enabling the aspirations of women and girls; the Waikato Cultural Inclusion Fund looking to build greater cultural understanding; and the recently launched Hamilton CBD Development Fund, established with the foundational support of Fosters Construction Group to back projects that promote the aesthetics and vitality of the city’s centre.
We encourage and enable corporate gifting through regular presentations to corporate audiences on all of the above, providing a payroll giving service and managing firms’ own named funds for community sponsorships and grant-making.
We drive transformational projects, with the Waikato Regional Theatre being our current mission. The project-planning phase is nearing completion, the resource consent phase is underway, we recently secured a Lotteries ‘NZ Significant Facilities Grant’ of $4 million, and we are in the final stages of our discussions with the Government’s Provincial Growth Fund team. We expect to announce a start to construction soon.
In essence, we work to connect donors to causes that matter to them and generally make generosity simpler and easier.
And we connect and convene projects between partners for greater outcomes than can be otherwise realised via singular efforts.
What is a Community Foundation?
A Community Foundation is a not-for-profit organisation established to help build local communities. By connecting communities in need to generous people with philanthropic ambitions, these foundations help provide communities with resources to create stronger, long-lasting solutions to specific issues.
Why choose a Community Foundation?
As a not-for-profit Community Foundation, Momentum Waikato is committed to helping donors make informed decisions that lead to meaningful impact.
There are a range of Giving Stories on our website featuring individuals and families who for good reason have chosen Momentum Waikato as a vehicle for their giving.
We offer donors the opportunity to engage with the community, gain knowledge, connect with other donors, build an understanding of the not-for-profit sector and, ultimately, give wisely.
What are the benefits of Community Foundations?
We’re an easy alternative to setting up a private foundation or trust. A fund with Momentum Waikato can be set up simply and with no set-up fees. We also handle all due diligence to ensure your gift is managed responsibly and ethically.
Donations are tax deductible.
We’re always donor guided – we realise the objectives of the donor in perpetuity and give the greatest level of flexibility, confidentiality or promotion, support and advice. as desired by the donor.
With expert advice, guidance, and ongoing support, Momentum Waikato can help you implement a giving plan that makes a significant impact.
We’re local and all about the Waikato, so you can focus your support into your own community.
We are always willing to meet with anyone who wishes to discuss how becoming a donor can make a difference to the Mighty Waikato – get in touch.
