We‘re targeting $100 million of charitable giving of over the next decade
The Selwyn Foundation plans to increase our charitable giving to a target of $100 million over the next 10 years, following the proposed transfer of half of our retirement village capacity to Metlifecare. The proceeds of the proposed sale will be ethically invested by the Foundation to provide an endowment to lift our charitable giving target from $10 million in a decade to $100 million over the next 10 years.
The purchase agreement includes Selwyn Park village (Whangarei), Selwyn Heights village (Hillsborough), Selwyn Oaks village (Papakura), Selwyn Wilson Carlile village (Hamilton), Selwyn St Andrew’s village (Cambridge) and Selwyn Sprott village (Wellington). Metlifecare has also bought Selwyn’s commercial laundry and plans to take over the running of these operations in the first quarter of 2022. Selwyn Village and affiliated Hansen Close will remain part of The Selwyn Foundation.
This move follows the Strategic Review initiated in 2020 by The Selwyn Foundation Board. Against a background of growing need among vulnerable older people, the Board asked how we might expand and enhance our charitable activities in order to most benefit seniors who are in need.
At the heart of this change is a desire to better deliver against our charitable Mission, and this decision significantly strengthens our financial capability to do so. It will enable us to support as many vulnerable older people as possible in the years to come.
The Selwyn Foundation will evolve as a charitable organisation, expanding our reach to more older people in need and creating measurable improvements in quality of life. We will focus on the areas of loneliness and social isolation, hardship support, affordable housing and spirituality, while upholding Tikanga Māori, Tikanga Pasifika and Tikanga Pakeha principles.
In our new form, the Foundation will continue to fund charitable initiatives and provide direct financial support to enable older people’s access to housing, social supports and care options. We will be able to establish and fund new partnerships to work in communities with higher risk and need, including Māori and Pasifika. We will also work with others in aged care to deliver evidence-based thought-leadership, influence policy decisions, and champion issues of importance for older people.