Geyser Community Foundation

Geyser provides a simple and lasting way to support local charities and organisations that are important to you. We connect people who care with causes that matter. We make giving quick and easy. Funds are pooled and invested in perpetuity; the interest from the funds supports the local community every year, forever. We take care of all governance, compliance, auditing and accounting.

Guidance notes for Lawyers when a client is establishing a Fund
with the Geyser Community Foundation

1. Complete the “Application to Establish a Named Endowment Fund” form

1.1 Include the client’s contact details

1.2 Name of Endowment Fund

1.2.1 Donations over $50,000 become a Named Fund with associated privileges, namely:

• Clients choose which charities or charitable causes receive the annual distributions from their Named Fund

• Annual reporting to Fund holder / executor.

1.2.2 Donations under $50,000 go into one of Geyser’s Community Funds where the annual distributions will be for any charitable purpose (or purposes) within the Rotorua or Taupo districts at the discretion of the Trustees of the Foundation.

Examples of Community Funds available for contribution are:

• Rotorua Fund
• Taupo Fund
• Geyser Arts Fund
• Environment Fund
• Ross Bohm Fund
• James Dodds Memorial Fund
• Life Education Trust Rotorua Fund
• Rotary Rotorua Hospice Fund
• Rotorua SPCA Fund

Alternatively, your client can choose another of Geyser’s existing Funds to support. Please refer www.geysercf.org.nz for details of all Funds.

1.2.3 Intended Beneficiaries
Beneficiaries must operate for a charitable purpose as recognised by the Charities Service and the Inland Revenue Department. If your client nominates a charity that operates nationally but wishes their distributions to be used in the local region, this must be specified.
Your client may wish to specify several charities, eg, 25% to ABC school, 25% to XYZ charity, and 50% to be distributed to any charitable purpose (or purposes) within the Rotorua and / or Taupo districts at the discretion of the Trustees of the Foundation.

If your client wishes all of their annual distribution to be at the Trustees’ discretion, then write in100%.

1.2.4 Establishment Donation
Geyser Community Foundation encourages people to consider making an establishment donation of $5,000 towards its operating expenses. People may choose to pay this at the time of establishing their Fund; pay $1,000 annually for five years (and claim the 33.3% tax credit while still living), or it will be debited at the time the Foundation receives the funds (usually at the time of the client’s death).

1.2.5 Authorisation for Name Disclosure
It can be very encouraging for people to see donors listed who they know and respect. However, Geyser appreciates that this can be a very delicate subject for some people and will only list names where we have been given authority to do so.

Once this form has been completed and signed by your client, please post to the Geyser Community Foundation, P O Box 1742, Rotorua 3040, for our records. Geyser will then make personal contact with your client to acknowledge their generosity.