Auckland City Mission Foundation:
The Auckland City Mission Foundation was set up out of a commitment to the work of the Auckland City Mission and the understanding that the financial vulnerability of the Mission impacts on its potential to consistently provide excellent service to those who need it most.
Providing financial security is a meaningful way, the Auckland City Mission Foundation can ensure that the work of the Mission is able to occur for as long as there is need. This reassurance allows the Mission to get on with delivering practical assistance and support to Aucklanders in desperate need.
How the Auckland City Mission Foundation Works:
The Auckland City Mission Foundation has a base of capital comprised of donations specifically given for the foundation and legacies from Mission supporters. This capital is invested and the return from these investments provides an on-going income stream, which is used to assist in funding the Auckland City Mission’s services.
It is the intention that the Foundation will only distribute the income from investments, meaning the capital base of the Foundation will remain untouched.
The initial capital base of the Foundation was $1 million, which was kindly donated by the charitable trust of Neal and Annette Plowman. They subsequently pledged $3 million to match donations to the Foundation on a dollar for dollar basis, until 2013, meaning investments in the Foundation were doubled.