BayTrust increases funding by $10m

The BayTrust held an annual public meeting in Rotorua yesterday and released more funds for community groups. Photo / Ben Fraser

Rotorua community groups have something to celebrate with news BayTrust will increase its grants to local groups by $10million during the next five years.

The trust's strong recent financial performance will allow it to grant $25million to the groups in that time.

The new funds were announced at BayTrust's annual public meeting in Rotorua yesterday.

At the meeting the community trust also revealed a new look and strategic direction.

Chief executive Alastair Rhodes said BayTrust's asset base had grown from $89million when it was first established in 1988 to $193million as at the end of March 2015, with investment returns exceeding 10 per cent being achieved in the past three years.

"The trust has recovered well from the global financial crisis and as a result trustees are planning to significantly increase BayTrust's granting in future years," Mr Rhodes said.

Last year 157 Bay of Plenty community organisations received grants from BayTrust to help cover their operational costs or fund other specific initiatives.

BayTrust has now distributed a total of $60million to community groups throughout the Bay of Plenty since it began, as well as provided other measures to support and build the capacity of local organisations.

Mr Rhodes said the extra funding was exciting and the trust had been working hard to review BayTrust's overall vision alongside outcomes. BayTrust's new logo, vision statement and strategic investment priorities were also unveiled.

Ensuring the "Bay of Plenty is the greatest place to be" is the organisation's new vision, and desired outcomes include strengthened whanau, stronger community leadership, enhanced environmental sustainability, stronger community organisations, fun, vibrant communities, transformational social innovation and sustainable community housing.

"BayTrust is striving to take a greater leadership role in the Bay of Plenty and to this end we are pleased to present our new strategic direction, brand and outcomes to the public. The full details behind these changes, and implications for grantees, will be progressively rolled out and communicated over the coming months."

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