Tēnā koutou,

Each year, the release of the annual report is a time of reflection, acknowledgment of those who have positively impacted our community through funding from the Trust, and evaluation of the financial returns of the Trust’s investments. We are delighted to report that the 2023/2024 financial year saw a positive 12.3% return on our investments, a testament to prudent financial management. This year is also a significant milestone: 2024 marks 30 years of Rotorua Trust!

It’s a special moment to acknowledge the history, impact, and those who formed the foundations of Rotorua Trust. In recent years, we have acknowledged the contributions of the previous Chief Executive, Jackie McCullough, and the passing of her husband, Paul Nu’. We also acknowledge Melanie Short and Megan Romanes for their invaluable contributions to the Trust.

In September, we welcomed Blair Gilbert as Chief Executive. Blair has entered this position in good stead, positioning the Trust well during a period that has seen an influx of application volume and quantum. The strength of our team and board is crucial in ensuring that the heart of the Trust continues to beat into perpetuity, supporting our community in achieving the important mahi and continuing to thrive.  

Last year, I mentioned the Trust’s initial step into impact investing with a social return on investment. Housing has been a large focus of these investments, and this financial year, we have taken a significant step by supporting the Bay of Plenty Housing Equity Fund, aligning with our commitment to addressing housing issues. Our investment of $5 million into the BOP Housing Equity Fund is a collaborative venture, of which Rotorua Trust, BayTrust, Trust Horizon, TECT and Tauranga City Council together, as founding shareholders, have committed $45 million to the fund to help transform lives through safe and warm housing.

Some of the highlights from this year include the Trust’s monthly board meetings and attending conferences and events. It was a delight to attend the Philanthropy Conference and Climate Conferences, and they showcased essential themes that we, funders, need to consider. Events filled the diaries of trustees and staff and spanned annual general meetings, awards ceremonies, concerts, and more. They included the Multicultural Concert Launch, the Rotorua Stockcar Club’s Charity Celebrity event for Starship and Ronald McDonald House and their subsequent Ronald McDonald House cheque presentation. A momentous moment was the December additional $5 million grant to the Rotorua Museum restoration project, bringing the Trust’s total contribution to $15 million, paid as contributions to the total each year, and recognising the importance of Rotorua Museum Te Whare Taonga o Te Arawa as a cultural and historic landmark, a destination for locals and the many manuhiri that visit each year.

There was support for both new initiatives, and those that have received previously, Te Arawa Lakes Trust educational and environmental outcomes, the 26^th free to attend Lakeside Concert, Big Sing Cadenza, Rotorua Young Achievers, and Parksyde Community Centre. Whilst this only scratches the surface of the many initiatives happening in Rotorua, to make it a better place ‘mō tātau katoa – for all of us’,  we, at the Trust, read every accountability report submitted as a funding recipient, to close the loop. These reports often follow different formats, showcasing the personalities involved and the unique nature of each initiative. It gives a true sense of the brilliant work done by the people of Rotorua for our community. The activities and programs carried out by our funding recipients are instrumental in enhancing the well-being and sense of community in our region.

This year, there has been an immense demand on the Trust’s funding pool, with the volume of requests and the amount requested increasing exponentially. The influx of applications also serves as a testament to the Trust’s approachability, and the impact grants are making in our community. I commend our Trustees for making sound decisions that align with the Trust’s strategic direction, as well as all those who contribute to the positive outcomes in our region.

Looking ahead, I am confident that Rotorua Trust will continue to play a pivotal role in our community, driving positive outcomes. I extend my heartfelt thanks to everyone who has been part of this journey, from our Trustees, to staff, to our funding recipients. Your dedication and hard work have been instrumental in our success, and I am excited about the future growth and impact of the Trust.

Nāku noa, na,

Stewart Edward MNZM, JP

Chairperson, Rotorua Trust