Read reports from the Chair and Chief Executive of the Wellington Community Trust, see the Trustees’ remuneration, find out who was funded and download a financial summary and investment commentary from the 2015/16 financial year.
Trustees' Report
Jan Dowland, Chair (Photo: Stephen Gibbs)
It gives me great pleasure to present the Wellington Community Trust’s Annual Report on behalf of the Trustees.
Despite significant volatility in the financial markets we were pleased with a 4.3% net (5.6% gross) return for the year which is slightly below our long-term objective of 4.5%.
After costs and grants we returned a small surplus of $770,000 thereby continuing to grow our capital base. Our distribution reserve has grown to over $11.1m providing a buffer to ensure a steady level of distributions in the face of future market volatility. Our funding for this coming year will increase to $1.525m, meaning a 76% increase since 2013.
It has been good to have a year without staffing or trustee changes. This continuity has enabled us to make progress on shifting our granting practice, building stronger partnerships and strengthening our profile in the region. A particular highlight has been the introduction of our multi-year granting programme, MY Children. After considerable consultation and review of the research, we decided to focus on initiatives that enhanced the wellbeing of children aged 0-5 with an emphasis on healthy homes and nurturing families. We are pleased to announce that we have committed $480,000 to supporting 3organisations over a 5-year period.
This is my final report as Chair. I have stepped aside and am delighted to hand over to Gerardine Clifford-Lidstone. The Trust is in a good position thanks in no small part to highly engaged and knowledgeable trustees and the small team of committed and competent staff, ably led by Mark Cassidy.
Our greatest reward is seeing how the wonderful efforts of the community groups we fund make a positive impact throughout our region.
Jan Dowland
Chair
Chief Executive's Report
Mark Cassidy, Chief Executive (Photo: Stephen Gibbs)
I am particularly pleased to report this year on some exciting new initiatives to support our goals of effective and greater community engagement.
In 2015/16 the Trust was able to distribute over $1.4m back to the community, a 15% increase on last year. The Trust’s strong financial position and level of distribution reserves has provided it with the platform to maintain a sustainable level of funding, and allowed us to support some exciting new initiatives.
The launch of our online application process and greater engagement with applicants has made it easier for community organisations to successfully apply for funding. We increased the number of organisations funded by 16%, and declined applications almost halved to 19% of all applications received. In partnership with Wellington International Airport, an additional five volunteer groups, were recognised as ‘Rising Stars’ at the Wellington Community Awards.
The introduction of our multi-year MY Children granting programme, to complement our General Grants, is targeted at supporting organisations addressing complex long-term issues for some of the most vulnerable in our community. This is a significant step for the Trust and has been strongly supported by our peers, and organisations we work with.
We also undertook a survey to find out what you wanted to know from us. The response was encouraging and has led to the launch of our quarterly e-newsletter, and planning for a new website.
These initiatives support our aim to strengthen our community relationships, build on existing strategic partnerships and develop new ones across the Equity whole region.
Mark Cassidy
Chief Executive
Trustees' remuneration
The total remuneration to Trustees was $60,600.
Chair:
Jan Dowland $12,000
Convenors of Sub-committee:
Anne Hare (retired May) $1,100
Barry Lindsay (appointed June) $5,300
Trustees:
Gerardine Clifford- Lidstone $6,000
Ross Graham $6,000
Elisabeth (Liz) Kelly $6,000
Clare Needham $6,000
Dawn Sanders $6,200
Norrey Simmons $6,000
Nick Thomas $6,000
Who was funded
Reports for 2015/16
Summary of the Annual Report 2015/16 (PDF 443kb)
Investment Commentary 2015/16 (PDF 255kb)
Contact us if you’d prefer to have a hard-copyof any of these reports.
See the financial statements for 2015/16 and other years.