Craigs Investment Partners launches strategic giving partnership with Community Foundations NZ
As long-time supporters of communities across the country, Craigs Investment Partners (Craigs) have just announced the establishment of a new community giving initiative in partnership with Community Foundations of New Zealand.
Donations to support the greatest needs in each of the 19 communities in which Craigs has regional branches will be made in conjunction with one of the 17 community foundations found around New Zealand, where possible. This thoughtful initiative coincides with Giving Tuesday, an international day that celebrates generosity across the globe.
There are three key components to the Community Giving Program;
- Christmas Giving
- A community endowment fund
- Employee workplace giving
Over the past few years, several Craigs branches have decided to donate to their communities in lieu of sending out gifts at Christmas - and the response from clients and suppliers has been very encouraging.
This year, Craigs will direct money to local charities in lieu of sending out Christmas gifts across New Zealand. A Giving Committee established in each Craigs branch will liaise with their local community foundation to choose a meaningful recipient in their local area.
We see a huge benefit to our communities, by giving to those with greatest need at a time of the year that we know many feel huge pressure financially.
A community endowment fund
Since inception, Craigs has contributed a significant amount of money to numerous local community organisations each year and supported a number of local events. The establishment of a Community Fund to help support communities in a more structured manner, has been a natural progression. It is intended that a portion of the Craigs fund will be distributed annually to recipients of their choice.
The benefits of facilitating this through the Acorn Foundation and the 17 other community foundations spread throughout New Zealand, are two-fold:
- The Community Foundations purpose is to match generous local donors with organisations in the community of greatest need. When deciding where to direct our money – leveraging their expertise is an obvious solution.
- To establish a charitable trust requires resource and ongoing administration. Because the community foundation framework is so well established – it makes sense to leverage their existing systems and relationships in the community.
Employee workplace giving
Beginning in 2020, Craigs employees around the country will have the opportunity to participate in payroll Workplace Giving, with employee contributions matched by the Craigs business up to $500 per year, per employee.
Staff can nominate an amount to contribute each month, and the tax deduction is applied at source (payroll). Therefore, staff do not have to worry about keeping receipts or applying for their tax refund each year. Removing this administration hurdle for staff, will make the giving process seamless.
CFNZ EO, Eleanor Cater, says that thoughtful giving is the way of the future. "People like to give with purpose, since it’s a far more fulfilling way to give, both for companies and for individuals. This idea from Craigs is a real win/win, nurturing a purposeful team-building culture at the same time as helping to build strong communities."
These initiatives are the start of a broader community and sustainability program within Craigs. “We anticipate that there are many other businesses in New Zealand who are already supporting similar initiatives and hope that this may encourage any that would like to facilitate a workplace giving program within their company, to contact their local community foundation.”