When New Plymouth’s couple John and Vicky Haylock inherited from their uncle’s property, they wanted to harness his memory and passion for medicine.
Prior to his death, Dr. Basil Clark, who had no children of his own, told his niece Vicky that he was considering establishing a scholarship fund for Taranaki students.
But that didn’t happen. Vicky thinks it was in a “too difficult” basket.
So she and her husband decided to act.
Working life in Scotland
Dr. Clark is a consultant doctor and senior instructor specializing in diabetes, spending most of his work at the Royal Clinic in Edinburgh, Scotland.
Medicine was an important part of his life, but he also loved genealogy and history. When he retired in 1995, he returned to New Plymouth to share his knowledge with the local diabetes team at Taranaki Base Hospital.
When Dr. Clark died, Vicky was CEO of the Tekaraka Foundation (now the Taranaki Foundation). She and her husband thought it was important to set an example and guide them.
“John and I have always funded goals in different regions, but at a fairly modest level, this was a big financial step for us,” says Vicky.
“John is on the board East Taranaki Environmental Trust And I’m an treasurer Launch Taranaki.. We are also involved with other community groups and know how it can be a burden to constantly raise money. “
She says community foundations have a long and successful history around the world. They allow people to set up a charity fund very easily and cheaply.
Community Foundation funding is professionally managed, but at a “significantly lower” cost, she says.
It is also a cheaper option because it avoids the legal fees surrounding the establishment of an independent fund.
Foundations established throughout New Zealand
Community Foundations have been established throughout New Zealand for the past 18 years and have grown significantly from direct donations, heritage gifts (bequests) and trust resettlements.
Funds are pooled and invested, tagged for specific purposes, and the proceeds from the investment are returned to the community in the long run.
The community foundation is a non-profit model and the trustees are volunteers. “This allows us to keep operating costs lower than commercial alternatives,” says Vicki.
“It’s also much easier and more cost-effective than trying to set up a charity fund yourself. I also like the fact that gifts to the Taranaki Foundation are invested forever, so one or two. Rather than a “one-off” gift to the organization, our fund is aimed at building “nest eggs” that can make long mistakes in Taranaki. Terminology, “says Vicky.
Continuing health heritage
“We chose health, welfare, and education projects for several reasons. First, we wanted to continue Uncle Basil’s legacy in the field of health. Second, we said that education is crucial. We are aware that if people can gain financial stability, it will be easier for them to improve their health and well-being, “says John.
We also wanted to keep the scope of the fund very wide, as it is impossible to predict what the needs of the community will be in 20, 50, or 100 years.
“This fund will last forever, so we need to be flexible in responding to the changing needs of the community,” says John.
The couple promises to give it, and the funds will be up to $ 50,000. When you reach $ 50,000, you will be able to receive a grant. At their will, the couple also left the Foundation with a much larger gift to boost the fund.
Vicky says working for the Taranaki Foundation has shown how many organizations are doing great work in the area.
Fund specific ways of future support
“I’m the kind of person who wants to help, and establishing a fund gives us a concrete way to do that in the future.”
Vicky was the CEO of the Foundation until 2017. Currently, her only involvement is as a donor.
She says the couple’s daughters supported the founding fund.
“It’s much easier to hand over money when you know you no longer need it. We recently renewed our will to include the Taranaki Foundation. We with our trustees I’m really proud of the great work the new management is doing and I’m confident that the money will be safe.
“Our daughter is now a young adult and is starting her career. They are very supportive-I know they still have good inheritance, and when we need it in the meantime. Help them, “says Vicky.
Vicky says there are some great community organizations doing incredible work in their community –
But they need money before they can change their lives. “
She says it contains some of the projects that inspired her while working for the Taranaki Foundation.
Start Taranaki – Work with a teenage boy who is familiar with the judicial system. The boys will experience a four-week wilderness experience and will be assisted to help them get going when they get home.
Taranaki Retreat – Provide a sanctuary for those who are experiencing difficult times.
Taranaki Gift Community Trust – Provide educational programs and support for talented children who often have complex needs that cannot be met by mainstream education systems.
Taranaki Scholarship Portal – A growing and easy-to-use database of scholarship opportunities for local students.
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Taranaki Inheritance Seed Community Fund
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