Canterbury groups main recipients of charity funding

Press, 22 June 1989, Page 19

Canterbury groups main recipients of charity funding

The New Zealand Charitable Foundation contributed almost $46,000 to charities, mainly in Canterbury, last year.

The trust’s founder and manager, Mr Jack Hindin, said contributions of $72,500 were received during the year, and net investment income was $66,000. The total amount paid or promised to the trust, set up in 1985, exceeded $1 million. There were 13 contributors into dedicated “sub-funds,” which made the trust the only one of its kind in the

country, he said. The trustee and the fund’s sole corporate contributor is PGG Trust, Ltd, a subsidiary of Pyne Gould Corporation, Ltd. Mr Hindin said it was hoped more corporations would be encouraged to give to the trust. Uncertainties regarding the Government’s intentions to tax charities had inhibited some potential contributors, he said. Many were asking that if the Government was going to tax the income of charities, should it not also look after their-fund-ing, Mr Hindin said.