Hollows NZ reassures NZ public
Your money well spent: Hollows NZ reassures NZ public
Following recent reports of investment losses by The Fred Hollows Foundation Australia, The Fred Hollows Foundation NZ reassures the NZ public that their money is well-managed, and spent on the purpose for which it was given – restoring sight in the Pacific.
Hollows NZ chairman Brent Impey said “Supporters of The Fred Hollows Foundation NZ can be assured that their donations are managed in New Zealand and are only used to run programs restoring sight in the Pacific, PNG and Timor-Leste. We are very prudent with our donors’ money and are proud that over 85% of every dollar we receive is spent on our blindness prevention programs in the region.” Mr Impey also noted that Hollows NZ invests all its funds in New Zealand banks in timed term deposits, and has not invested in the stock market.
In fact, 2009 has been an extraordinary year for Hollows NZ. The organisation has expanded its operations across the Pacific, Papua New Guinea and Timor-Leste following a significant injection of funding from both the New Zealand and Australian governments, and with continued strong support from the NZ public.
The Fred Hollows Foundation NZ is a New Zealand-registered charity (CC23722), independently managed and governed locally. The organisation was established in 1992 at the same time as its sister organisation, The Fred Hollows Foundation in Australia. Both organisations work to achieve similar goals: restoring sight and preventing blindness in the regions where they operate.