Centacare invests for future of disadvantaged
Centacare Sydney, the Church's welfare agency in the Sydney archdiocese, has launched a registered foundation which will use the interest from its investments to fund Centacare's work with disadvantaged people in the community.
The Catholic Weekly reports that The Centacare Foundation (Sydney) will invest money received from donations or bequests into blue-chip, minimal-risk investments and channel the yearly income into its programs.
The foundation, brainchild of Michael O'Neill, chairman of the foundation and a director of the board of Centacare Sydney, is seen as a safe investment vehicle.
People can feel secure that their donation or bequest will provide an enduring legacy to help the work of Centacare.
"The foundation has been set up to provide a vehicle for people to invest money for perpetuity. Centacare uses the income derived to enhance its welfare programs," said Chris McGee, Centacare's manager of public relations. "They're leaving money to charity but they know it's going to be used forever."
"They're not just donating $10,000 and it's disappearing - it's actually going to be there and people are going to get the benefit for years and years."
5 Apr 2002