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Marking 25 years of NZ Community Trusts work

Hon Dr Jonathan Coleman
Associate Minister of Finance

7 August 2013

Marking 25 years of NZ Community Trusts work

Associate Minister of Finance Jonathan Coleman says New Zealand’s Community Trusts have made a significant contribution across New Zealand during the last 25 years.

“I would like to congratulate all 12 Community Trusts on 25 years of grant-making in support of their local communities,” says Dr Coleman.

“The Community Trust network is committed to supporting local communities, helping to make a difference where it really matters at a local level. Much of their success comes from their strong local connections and a commitment to community-led responsiveness.

“The Trusts have shown innovative and competent leadership, successfully managing assets in a volatile economic environment, as well as making strategic investments in community facilities and infrastructure. Through sound management, the Trusts have made a combined total of $1.9 billion in grants to community organisations, while at the same time building up their combined assets to $3 billion.”

The Community Trust network was set up in 1988, with each Trust given ownership of the trustee savings bank in its region. The majority of the Trusts sold their bank shareholdings and invested the proceeds in a more diversified manner to produce an income stream to fund grants in their region.

Trustees are appointed by the Associate Minister of Finance, and are selected based on their local and community knowledge, their skills and experience, and their commitment to philanthropy.

ENDS

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