$2,000 a minute raised by The Funding Network

$2,000 a minute raised by The Funding Network

Four charities benefit from Kiwi generosity

New Zealand’s first live crowd-funding event for charity raised a whopping $2,000 a minute.

The Funding Network (TFN), described as “Dragon’s Den for charities”, held its local launch this week, with dozens of generous Kiwis pledging more than $68,000 to four charities in just 34 minutes.

The organisations to benefit were:
- Tread Lightly Caravan, Auckland’s only mobile environmental classroom

- Nga Rangatahi Toa Creative Arts Initiative which supports young people excluded from mainstream schooling

- Clown Doctors (Wilson Home Programme), who bring the medicine of laughter to hospitals

- Te Whakaora Tangata Amokura Teen Parents Programme which empowers vulnerable young mothers in south Auckland

Each group had six minutes to pitch their organisation and another six minutes to answer questions, after which the pledging from the crowd began. Donations came thick and fast, ranging from $50 to $1,000. All four charities quickly exceeded their $10,000 targets.

“We are ecstatic about the incredible results from our first TFN event, which far exceeded our expectations,” says Nick Edgar, the chair of TFN NZ, and Hilary Sumpter, CEO of the Auckland Communities Foundation, which partners with TFN.

“We will definitely be holding another event in Auckland in the near future and hopefully can extend the concept to other parts of the country after that.”

The Funding Network was launched in London in 2002 by philanthropist and art dealer Dr Frederick Mulder and has since spread around the world, with more than 150 TFN events held, 750 charities supported and at least NZD $13 million raised.

Dr Mulder, who was in Auckland for the first NZ event, says The Funding Network aims to democratise philanthropy by providing an attractive and easy way in for new givers.

“The environment we create inspires people to raise more as a group than they could as individuals,” says Dr Mulder. “It also encourages people to give more than just money. Our guests hear about new solutions to community issues, they ask questions, and then they pledge support to social entrepreneurs who have big ideas but limited resources.”

The Macquarie Group Foundation and Macquarie Private Wealth NZ were key supporters of the Auckland event, with the Macquarie Group Foundation matching a third of the funds pledged on the night.

“It was a privilege to support TFN NZ and help New Zealanders share in what was a remarkable evening of giving back to some very deserving and original charities,” says Laurence Fitzpatrick, Head of Macquarie Private Wealth NZ.

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