"They built the first library then slid out of it, getting the council to take over the responsibility. It costs council $1.25 million a year and Lands Trust Masterton gives $16,000.
"Then they pushed for an Archive which cost the council $289,000 last year and they gave nothing at all - not one cent."
Despite an operating surplus and its assets reaching a record high last financial year, Lands Trust had cut its education grants by $50,000, he said.
Only Aratoi had benefited to a greater extent in the past financial year with the council granting $250,000 and Lands Trust contributing $333,000.
Mr Goodwin said Lands Trust Masterton had equity of $40 million and yet its return on capital to the community was only 2.2 per cent.
He said the council's finance department had managed to achieve a return on its investments of 5.1 per cent last financial year.
"Perhaps Lands Trust Masterton should sell up all its assets and give the money to our finance manager, David Paris, to invest, that should double the return to the community," he said.
Mr Goodwin was supported by councillor David Holmes who said Mr Goodwin had "said it all".
"He took the wind out of my sails," Mr Holmes said.
Councillor Chris Peterson sprang to the defence of the Lands Trust, claiming it was "unfortunate" Mr Goodwin had taken the opportunity during a debate on approving free swimming finance to "slag off another organisation."
"Lands Trust Masterton is one of the best performing community trusts in the country," he said.
The councillors voted to approve the $12,500 needed to support a second free swimming week with many saying it allowed families who could not afford to send their children to the pools, or afford beach holidays, a chance to enjoy free recreation and hone their swimming skills.
