BDT renews Gold Support for Foundation
The Barrier Daily Truth has renewed its role as a Gold Supporter of Foundation Broken Hill with a commitment to provide $25,000 in marketing assistance over the next five years.
Foundation Chair Vince Gauci says the contribution will be a critical success factor for the organisation as it battles an increasingly difficult and competitive fundraising environment.
“Although it has been a very busy and effective period for the Foundation in community and business support, due to the general lower interest rate environment earnings from our Capital Fund was much lower in the last Financial Year… It is important to the ongoing effectiveness of the Foundation that we increase the size of the Capital Fund and the first step in achieving that objective is to ensure that local people know who we are, what we do, and how they can help. We are delighted by the BDT’s decision to continue to be a key part of that.”
There are two streams of contributors to Foundation Broken Hill. ‘Friends of the Foundation’ donate to a protected Capital Fund which is invested to generate income to support local employment and some social development projects, while ‘Foundation Supporters’ contribute to the operations of the Foundation – to ensure it has the capacity to continue capital raising, managing the invested funds and appropriately assessing projects for financial support.
The BDT first became a Gold Foundation Supporter in October 2011 and has consistently provided marketing support through advertisements and feature articles. Recently it has begun assisting with the electronic distribution of the Foundation’s newsletter. Mr. Gauci said the support was invaluable.
“The Foundation is quite different to most not-for-profit organisations that retain a portion of their donations for administration. All donations go entirely to the protected fund to generate income to be put back into the community, so we operate on a very tight administration budget, through the support of a voluntary Board of Directors, part-time office manager and supporters such as the BDT. This additional community support is essential.”
Barrier Daily Truth General Manager Rod Niemann said the newspaper was proud to be associated with the Foundation.
“For over 100 years the BDT has been serving the Broken Hill community. Supporting the work of the Foundation is a natural fit for us and we’re happy for that support to continue,” Mr Niemann said.
“We see this as an investment in the future of this great city and by promoting the Foundation in the coming years – and acknowledging businesses and people who support it – we can help build on what has already been achieved.”
Foundation Broken Hill contributed a record amount of more than $100,000 to the local community during 2015-2016, bringing the total amount in financial support to more than $900,000 across 16 years.
Mr Gauci said the Foundation’s long term goal is to build the Capital Fund by another $2 million, so the fund can make a more significant contribution to Broken Hill’s sustainability and diversification. Apart from a renewed effort in building capital, the Foundation will focus on its current Business Mentoring and Workshop Program which Mr Gauci said is proving successful and exciting.
“One important aspect of the Foundation I think should always be mentioned when talking to the local community is our Bequest Fund. On many occasions we have seen bequests leave Broken Hill because people have been perhaps unaware of the option provided by Foundation Broken Hill. Please remember the Foundation in your Will.”