Foundation appoints new chairwoman

There has been a change at the top of the Whanganui Community Foundation.

Alaina Teki-Clark has been elected chairwoman, replacing Philippa Baker-Hogan who held the position for the past three years.

Ms Teki-Clark told the Chronicle she was looking forward to her new role, leading a board of nine which she joined in 2011.

"Philippa has taken us through a period of transition in the foundation, so now it's time to steer a new course," she said.

A self-employed businesswoman, she has interests in the hospitality and fuel industries. She has also been involved in community organisations including chairing the Women's Refuge.

In November last year she was appointed to the government's Small Business Development Group (SBDG), joining 10 others on that body. Small Business Minister Craig Foss said Ms Teki-Clark's appointment recognised her strong business acumen and experience developing small businesses.

Mrs Baker-Hogan has been on the foundation since 2009.

In the last financial year the foundation handed out nearly $1 million in grants to the community.

It earned $4.2 million from its investments and has assets of more than $40 million, the bulk of that managed by Craigs Investment Partners.

Whanganui Community Foundation began life in 1988 as the Trust Bank Wanganui Community Trust after the Government restructured the trustee savings banks through the Trustee Banks Restructuring Act.

In 1994 and again in 1996, with the other community trusts, the trust sold its shares and ended any relationship with the former Wanganui Trust Bank.

The proceeds of the sale of shares were invested and continue to provide the income used by the foundation to make grants, provide professional development and other activities for the community.