Property education trust plans to increase its capital

Property education charitable trust plans to increase its capital base

A trust set up to provide support to tertiary students undertaking property-related studies has announced ambitious plans to treble its funding capacity within 10 years.

The Keystone Trust has been allocating study grants to students at a range of universities and technical institutes around New Zealand for 21 years. The annual Keystone Trust scholarships include opportunities for networking, mentoring and workplace internships with the best in New Zealand’s commercial property and construction industries.

In that time, the Auckland-based organisation – whose board members and patrons include some of the key players in New Zealand’s commercial property sector – has built up a capital base of $1.3million through corporate sponsorship and investments.

At the trust’s annual industry networking event last night, Keystone chairman Mike Higgins announced ambitious plans to grow that capital base to $5million by 2021 through investments, donations, major gifts and legacies.

“The last two years has seen Keystone Trust experience significant growth through the addition of 10 new industry sponsor organisations getting in behind the trust and taking our total ‘sponsor family’ to 25,” said Mr Higgins.

“Over the past year the trust has taken the necessary steps – such as establishing the Keystone Foundation – to provide a long term financial independence. With this structure in place, the Keystone Trust can continue to grow and offer more scholarships to provide a pathway for young people to achieve their career aspirations when that otherwise those opportunities may not have been available.”

To assist with the capital growth programme, Keystone trustees Paul Duffy of Hayphil Property and Chris Gudgeon of Kiwi Property have stepped down from their existing roles within the organisation so their input and efforts can be refocussed on the Keystone Foundation.

Fellow Keystone trustees, Mike Higgins and Andrew Petersen from law firm Bell Gully will represent the trust’s governance and regulatory interests on the Foundation.

Paul Duffy was instrumental in establishing Keystone Trust 21 years ago, and was chairman for the first 17 years. Precinct Properties chief executive officer Scott Pritchard has been appointed as a new trustee to Keystone Trust.

Mr Duffy said he was looking forward to taking up his new role as chairman of the Keystone Foundation.

“Over the years, as the Keystone Trust changed shape and evolved to where it is now, the interactions I have enjoyed with the scores of scholarship recipients - following their academic successes and their ensuing careers - has sustained my involvement,” he said.

Keystone Trust scholarship recipient James Petherick who is studying property and commerce at University of Auckland and is simultaneously holding down a part-time property administration role with NZX-listed Kiwi Property, credited the organisation for the success he is achieving.

“Without the support of Keystone Trust, I wouldn’t be in the position I am today,” said the 20-year-old.

“I have had so many great opportunities through the Trust that are unattainable for students my age anywhere else. I am just one of some 147 students who have been tremendously supported by the generosity of this industry-body. The enthusiasm and commitment shown to the next generation of commercial property and construction students is something we are all very grateful for.”

As well as delivering mentoring and career support services, Keystone Trust scholarships come with cash grants of $5000 per annum ranging between one and three years for qualifications across the property sector.

Over its 21 years, Keystone Trust has made grants to students from all over New Zealand – from Kerikeri and Whangarei in the far north, to Gore and Invercargill in the deep south. Recipients have gone on to study at Auckland, Waikato, Victoria, Massey, Canterbury and Otago universities, as well as Auckland University of Technology and Unitec.

ENDS

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