3 minute read
A will to give
“We really feel like we can make a difference,” says CEO Lori Luke of the Acorn Foundation’s committed staff.
The Acorn Foundation hands over millions every year to deserving community projects, so it made sense for the team at Farmer Autovillage to get behind the charity for their 30th anniversary, by funding a scholarship to help school leavers pay for their tertiary education.
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WORDS NICKY ADAMS / PHOTOS SALINA GALVAN + SUPPLIED
The team at Farmer Autovillage are proud to have launched their own scholarship aimed at funding tertiary education.
Established 19 years ago, Acorn Foundation may have started as a seed of an idea, but fast forward to now, and it’s grown into a whopping, solid oak. While Acorn is often known as the charity that many people donate to via their will, corporate giving is a vital part of the donation system.
It is through this avenue that Farmer Autovillage, to celebrate its 30th anniversary, has chosen to support Acorn Foundation. The Farmer Autovillage Programme is a scholarship helping school leavers put funds towards tertiary education. To be run at Te Puke High School, and Mount Maunganui and Pāpāmoa Colleges, each will receive three scholarships totalling $27,000. Acorn CEO Lori Like acknowledges the huge difference this will make to nine young lives: “These students will benefit greatly from the generosity of Farmer Autovillage, and we have so much gratitude for such a thoughtful gift.”
As a community organisation, Acorn Foundation is based upon the concept of place-based giving. Lori explains, “The way Acorn is different is the idea of the perpetuity model. Our capital is invested, and what we distribute is a percentage of the returns.” Essentially, this is a way of donating to your community via a charity that invests the funds on your behalf. The dividends are then passed on to the charities of your choice, meaning that it’s not just donors that have grown over the years, but also the funds – unbelievably, there is currently almost $60 million under management.
Lori continues, “Historically, we were known as the organisation that receives gifts in a will. That’s still our primary business, but there’s a lot more living giving now, and many other ways to do it, such as small groups and corporate giving – that’s how Farmer Autovillage came to us.” In fact, Farmer Autovillage was attracted to Acorn because of its highly tuned administrative capabilities. Mike Farmer, Managing Director, notes, “Our aim during our 30th anniversary was to make a significant contribution to scholarships. Acorn’s administration provided support and expertise in putting together our desired scholarships for worthy recipients. I certainly would recommend any company contact Acorn.”
While primarily centred on Western Bay of Plenty, some Acorn donors also support national causes. Indeed, as well as other scholarships and awards, it distributes the prestigious Jann Medlicott Acorn Prize for Fiction. However, it’s the local stories that resonate the most, such as The Eva Trowbridge Scholarship, which has supported adult learners for 15 years, says Lori. “Eva was a cleaner at the hospital and saved her coins, and those coins have helped 15 women finish school. People think you must be very wealthy to give back to a community. But most of our donors are very humble people who just want to make a difference.”
With Acorn, everyone chooses what they want to support. Some leave funds unrestricted, but about 60 percent of the money is tagged, which means specific charities or fields of interest can be supported. With 99 percent of the money remaining within the charity, the efforts from volunteers and the team is incredible. As Lori says, “All of us involved are very privileged because we really feel like we can make a difference. Over the years, heaps of people have helped Acorn succeed.”
And succeed it certainly has. Acorn has given to more than 200 causes, passed the $50million mark in funds under management, this year distributed $2 million for the first time, and given $10 million in total over the life of the foundation. That’s one mighty Acorn, all right.
