Youth Charity Contributes to NZ Economy
Leading child and youth charity, the Foundation for Youth Development (FYD) has broken new ground with the launch of the Growing Great Futures - Whakatipu Tamariki Ora report this evening.
Launched at an event hosted at parliament by Minister for Social Development, Paula Bennett, this Infometrics report is a result of FYD's move to provide evidence of their economic contribution to society. FYD is the first NZ charity to commission a report of this kind.
One of the key findings from the Infometrics report shows that every dollar invested in FYD programmes, Kiwi Can, Stars, Project K, and MYND has an average return to the New Zealand economy of $7.15. By comparison, the average benefit cost ratio of a 'road of national significance' is estimated to be 1.8.
FYD Chief Executive, Marion Short, says the charity is proud of the Infometrics report findings, which prove the value of investing in New Zealand youth.
"Part of the FYD strategy is to provide evidence of what we do, working," says Short. "We wanted to quantify just how much we contribute to the New Zealand economy using a respected economic framework and a reputable research company. What Infometrics have produced is something we hope will be meaningful to government and our key stakeholders.
"The report reveals FYD programmes are likely to be cost effective interventions that will promote economic efficiency and reduce lifetime inequality," says Short.
FYD co-founder, Graeme Dingle is equally proud of the Infometrics report that was independently funded by The Graeme Dingle Foundation.
"I am immensely proud of the organisation and its programmes, it's great to have an independent confirmation that the work we do is valued on many levels," says Dingle. "I hope that funders and supporters will take note of what can be achieved with a collaborative approach for NZ youth."
The executive summary of the Growing Great Futures - Whakatipu Tamariki Ora report will be available on the FYD website (www.fyd.org.nz) and a copy of the report can be requested.
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