The Otago Community Trust sets Donation Budget for 2016/2017
18 Mar 2016
The Otago Community Trust is pleased to announce that it has set its Donation Budget for the 2016/2017 financial year at $6M. The Trust’s financial year runs from 1 April 2016 to 31 March 2017. The Trust’s funding programme consists of two programmes - Community Donations and Funding for Change Priorities.
Community Donations
The Otago Community Trust continues to provide donations to community organisations for a wide range of purposes. These donations cover the following sectors: Education; Community wellbeing; Community activity; Sport and recreation; Arts and culture; Events; Heritage; and the Environment. For each sector the Trust has developed purposes and priorities. Project applications which demonstrate greater alignment with these priorities will be considered more favourably.
Funding for Change
In 2013 the Otago Community Trust Board agreed to commit a percentage of the Trust’s annual donation budget to pro-actively support initiatives that will make a significant difference to the wellbeing of the Otago community. The Trust has outlined that the Funding for Change Priorities for 2016-17 are as follows:
- Warm Homes. This is a partnership programme where Otago Community Trust works with the Energy Efficiency and Conservation Authority (EECA) to help fund free insulation into qualifying households.
- Youth, Health and Wellbeing. In particular focusing on initiatives in the Education, Employment and Training space.
- Regionally significant Cycle Ways. The Trust has supported the region’s cycle ways for many years in recognition that the cycle ways provide employment opportunities and economic benefits to the local communities they serve.
- Rural Health Initiatives. Within this priority area the Trust supports telehealth (connecting remote locations with Specialists in urban areas), Health education opportunities, equipment, upgrading and redesign of rural medical facilities and access to medical services in rural areas.
For the current financial year to date, $1,221,500 has been committed to projects under the Funding for Change Priorities.
|
Funding for Change Priority |
Current Financial Year |
|
Warm Homes Project |
$405,000 |
|
Youth Health & Wellbeing |
$252,500 |
|
Cycle Ways |
$304,000 |
|
Rural Health |
$260,000 |
- Ends -
For further information please contact:
Chief Executive, Barbara Bridger, barbara@oct.org.nz
(03) 479 0994, Freephone: 0800 10 12 40
About the Otago Community Trust
The Otago Community Trust is a philanthropic organisation which applies its Trust funds for charitable and other purposes which are of benefit to the community. The Otago Community Trust has its origins in the Dunedin Savings Bank, established in 1864 by public spirited citizens seeking to encourage thrift within the community, and distribute surplus profits to charitable causes.
In 1988 the Government restructured the ownership of regional savings banks and gifted the ownership of the Otago Savings Bank to the community through the establishment of the Trust Bank Otago Community Trust.
The amalgamation of the regional savings banks resulted in the establishment of Trust Bank New Zealand Ltd. In the mid 1990’s the Otago Community Trust as it is now known sold its shares in Trust Bank New Zealand Ltd for $131M and invested the proceeds.
The Trust now has almost $260M invested and since inception has donated more than $145M into the Otago Region. The Trust aims to make wise investment decisions that preserve the original capital for future generations as well as having a healthy donations budget each year.
Summary of Funding for Change Priorities
|
Funding for Change Priority |
2013/2014 |
2014/2015 |
2015/2016 |
|
Warm Homes Project |
$200,000 |
$400,000 |
$405,000 |
|
Youth Health & Wellbeing |
$15,000 |
$95,000 |
$252,500 |
|
Cycle Ways |
$220,000 |
$37,000 |
$304,000 |
|
Rural Health* |
- |
- |
$260,000 |
|
* Rural Health was introduced to the Funding for Change Priorities in 2015/2016 |
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