Mount Aspiring College Foundation launches $1 million future fund

MAC Foundation has launched a new endowment fund with an initial investment of $254,000 to ensure long-term financial support for Mount Aspiring College.

The fund includes a generous $100,000 grant from the Ray and Elsie Armstrong Charitable Trust, alongside $154,000 from the Foundation itself.

MAC Foundation Chair Matt Williams says the endowment fund is a future-focused initiative designed to provide enduring benefits to the school and wider community.

“It’s likely that none of us sitting around the table today will see the full benefit of this fund. But that’s exactly why it matters, it’s about long-term security,” says Williams.

“The value of an endowment increases over time, meaning gifts given now will support our school and community for generations.”

The Foundation has set an initial target of $1 million to establish the fund and is calling on local businesses and individuals to get involved.

“We’re inviting business partners to join us and help grow this fund,” says Williams. “By partnering with us, businesses will help enhance educational opportunities and school facilities, as well as support vital programmes that benefit students, teachers and families.”

Williams says the longer-term goal is to grow the fund to $5 million, allowing interest generated from the investment to be used for annual donations to the school while reinvesting a portion to steadily increase the fund’s capacity to support Mount Aspiring College for years to come.

The fund is managed by the Wānaka office of Forsyth Barr, with local adviser Ben Taylor overseeing its investment strategy.

“An investment vehicle has been established to maximise the Foundation’s charitable status and ensure the fund delivers a strong return. We appreciate the work that the team at Forsyth Barr does to support the fund’s success,” Williams adds.

MAC Foundation has supported Te Kura o Tititea Mount Aspiring College since 1993, gifting more than $600,000 since 2008. The Foundation owns the MAC Hostel buildings and land on which they sit. The school operates the Hostel programme, which provides accommodation and life-skills opportunities to 30 Year 13 students each year from across Aotearoa.

In addition to the new endowment facility, the Foundation continues to fund a wide range of initiatives, including specialist staffing, music and library resources, hardship support for students, the Te Ūkaipō scholarship, and outdoor pursuits equipment.

Mount Aspiring College principal Nicola Jacobsen says the endowment fund enables the College to go beyond what is provided for by Ministry of Education funding.

“The Ministry funds the basics of what the school needs, so funding from MAC Foundation makes it possible to offer additional opportunities and support for students, such as extra help in the classroom, access to mental health support, which is immediate, and access to resources and materials.

“By contributing to this fund, the community is investing in the young people of Wānaka, ensuring they have access to the very best learning and wellbeing resources to enrich their education.”

Mr Williams acknowledged the support of the wider community, including Advisory Trustee Simon Telfer, Chair of the Wānaka–Upper Clutha Community Board.

“The MAC Foundation trustees are incredibly grateful to many within the Wānaka community who are helping us to ramp up activity from MAC Foundation after a few quiet years. Behind the scenes, we’ve been working hard to strengthen and revitalise the Foundation to ensure it’s well-placed to serve the future. We must include Simon Telfer here and, of course, the Ray and Elsie Armstrong Charitable Trust for their generous grant,” he says.

The Foundation aims to contribute $125,000 annually to the school, in addition to the long-term growth of the endowment fund.

Main Image: L R Simon Telfer, Ben Taylor, Matt Williams, Peter Hall, Nicola Jacobsen, Kenny Vaugh, Henry Taylor and Andrew Edwards