For a better Cambridge for everyone, forever

Cambridge looking after its own needs is the driving principle for a new philanthropic investment fund set up to support the town and its people.

The Cambridge Community Charitable Trust has got together with Momentum Waikato, the region’s community foundation, to establish the Cambridge Community Fund, an endowment that will generate investment income for charitable activities and projects in the Waipa centre.

The Fund was officially launched with a well-attended function at Te Awa Retirement Village on the outskirts of Cambridge on Wednesday 16 October 2024.

Momentum's David Christiansen and Neil Richardson with Cambridge Community Fund champions Kevin Burgess and David Cooney at the Fund's launch.

Inaugural Fund Champions David Cooney and Kevin Burgess say it’s the ideal scenario – a Cambridge-focused charitable fund enabled by a region-wide philanthropic investment entity.

“The Cambridge Community Fund is a cost-effective way for local people to leave a legacy forever to their town,” says Kevin, who is well known locally as a pharmacist, trustee on various boards and athletics supporter.

“Money donated will benefit Cambridge forever, with the partnership with Momentum providing credibility, collegial knowledge, and back office and governance support.

“Joining with the region’s community foundation means we’re taking advantage of its scale of operation and portfolio, so the investment returns generated for doing good here are greater over time than we could achieve alone as a single trust. Why re-invent the wheel for a small town?

Mayor of Waipa Susan O'Regan with Kevin Burgess at the launch of the Cambridge Community Fund.

“I’m personally keen to support the community that has given my wife Jane and I so much, and the Cambridge Community Fund really is a great way to do it.

“More than a simple act of generosity, philanthropy is a powerful tool to uplift, empower and enrich our communities in ways that extend beyond our lifetimes. It is about compassion - the act of seeing a need and responding with meaningful support,” says Kevin.

As with all community foundations around New Zealand and the world, Momentum Waikato enables effective philanthropy, ‘generosity that delivers’, by managing a range of endowment funds set up by individuals, families, trusts and businesses. It collectively invests them to generate income that is then proportionally allocated to the charitable purposes set by the respective donors.

“My first priority is Cambridge and I’ve wanted to do something like this for some years,” says Kevin.

He was keen therefore to better understand this ‘smarter giving’ model.

“David and I met Bill Holland, who set up the Acorn Foundation in Tauranga some twenty-odd years ago, and with Sir Stephen Tindall, who is a big supporter of the community foundations movement in New Zealand. They certainly confirmed for us that working with Momentum Waikato was the way to go.

“The longevity appeals. If you donate or leave a bequest in your Will towards the Cambridge Community Fund, it will still be giving in 80 years and beyond!”

David says the Cambridge Community Trust was founded in the early 1990s to raise significant enough capital to make a meaningful difference in the town.

“Over the years we have received many grants and bequests from the community, but as you would expect a similar number of funding requests were also received.

“We have supported Cambridge Community House, Cambridge Lifeskills, Achievement House, purchased specialist vehicles and equipment for disabled residents and provided financial support individuals, schools and organisations within our community,” says David.

“It has been a hand-to-mouth existence and our long-term goal of creating a meaningful capital base was difficult. There needed to be a different model and a better way to achieve the goal of establishing a long-term endowment fund for Cambridge. That’s why we looked into the community foundation approach.”

Momentum Waikato Executive Office David Christiansen welcomes the Fund’s establishment

“The Cambridge Community Fund is Momentum Waikato’s first fully ‘place-based’ fund. It will be flexible to match a donor’s express wishes for the future.

“As such, the Cambridge Community Fund is like Momentum Waikato, but with a smaller geographical footprint – an all-purpose vehicle for philanthropy in Cambridge.

“We want to build a stronger culture of generosity across the Waikato, so this is the first of a series of place-based funds that we’re aiming to eventually have covering the whole of the region.”

Kevin and his fellow Cambridge champion David Cooney are themselves focused on attracting donations for the new Fund, while its advisory and distribution committee made up of local community members will decide annually how it’s investment income will be granted out.

They do, however, have a view on the general nature of what the Fund will try to achieve.

“As a pharmacist here for decades, I know that while Cambridge may be seen as a ‘well off’ place, it has the same issues going on as any town, and they’re often hidden away. It is a crying shame we have people in need in Cambridge.

“There is a need to improve living standards through better housing in some places here, and for things like addiction and mental health services.

“I want the Fund to help Cambridge to take care of its own, to build community equity, and benefit our future generations to come.

“That could take many forms. Perhaps it is capital projects. Perhaps its scholarships for local students to go to the new Waikato Medical School, who then come and practice in Cambridge after graduation. We will see.”

If you would like to join Kevin and David in making a better Cambridge for everyone forever, you can find out more and donate at momentumwaikato.nz/cambridgecommunityfund.