As a community foundation Sunrise can only retain a maximum of one percent of endowment value each year to cover operating costs. This one percent funding model is in contrast to many charities where it is usual that up to 30% (and sometimes more) of donations are used to cover the cost of operating.
Sourcing operating funding can be a challenge and distraction for community foundations in the establishment years before they become self-sufficient.
Sunrise was fortunate to have the support of Eastland Community Trust, JN Williams Memorial Trust and Clark Charitable Trust, who provided grants for our first five years (2014-2018). Their generosity ensured the operating costs of Sunrise were covered. This has been key to our early success, allowing us to concentrate on our strategic objectives to grow our endowment funds to support those in need in our community.
We are truly appreciative of the continued support of Eastland Community Trust and Clark Charitable Trust who have confirmed they will continue to contribute funding to assist with operating costs for the next five years up until 2023.
We would also like to thank the other organisations and numerous volunteers that have helped.
As a not-for-profit organisation we really do appreciate the immense support we receive from so many as we strive to build a powerful taonga (treasure) for our community for generations to come.