Acorn Foundation receives $3m of generosity

Karen Pensabene. Image Supplied.

The Acorn Foundation has received its largest ever gift, a $3 million bequest from a Tauranga woman.

Karen Pensabene, who passed away in March this year, was born on the edge of the North of Yorkshire Moors in 1927.

She married Philip Pensabene of Sicilian heritage, with whom she shared a happy life that included his four daughters, followed by eight grandchildren.

Karen eventually moved to the Ocean Shores Retirement Village in Mount Maunganui, where she met other Acorn Foundation donors.

She was passionate about supporting worthy charities and, having catered for family and friends in her Will, Karen was greatly relieved to learn that Acorn could help her provide for the kind caring country that took Philip and her in as citizens.

'This wonderful gift will be game changing for Acorn and the other charities that Karen selected to be beneficiaries of her endowment fund – Waipuna Hospice and Omanu Beach Surf Lifesaving Club,” says Acorn General Manager, Lori Luke.

'Karen was a huge supporter of Acorn's work and really wanted to help us succeed in building a community foundation for the region's benefit. This incredibly generous gift will make a massive difference to this area.”

Distributions from Karen Pensabene's fund will be in the vicinity of $120,000, and since community foundations like Acorn invest and preserve the capital of their endowment funds forever, there will be a similar level of support every year for the benefit of future generations in the Western Bay of Plenty.

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