✨ Community Trust Financial Report
The Community Trust
Community Trusts Act 1999
The Community Trust Consolidated Financial Statements for the Year Ended 31 March 2002
Trust Directory for the Year Ended 31 March 2002
Trust Particulars: The Community Trust was incorporated as a charitable trust in accordance with the provisions of the trustee provisions of the Community Trusts Act 1999. The purpose of The Community Trust is to provide charitable, cultural and philanthropic and recreational benefits to the community.
Date of Trust Deed: 30 May 1988.
Settlor: Minister of Finance.
Trustees: R. J. Todd (Chair), D. C. Close, D. W. Dormer, B. G. Hadlee, L. H. Jeffs, F. M. Jessep (Marlborough), B. Lowe-Johnson, P. H. Malone (Nelson), M. E. O’Connor (Nelson), P. J. Richardson, P. J. Sigglekow, S. S. J. Wong.
Trust Manager: W. P. Ward.
Accountants: Hadlee Kippenberger & Partners, P.O. Box 577, Christchurch (M. J. Hadlee).
Taxation Consultant: KPMG, P.O. Box 274, Christchurch (O. M. Wallis).
Auditors: PricewaterhouseCoopers, P.O. Box 13-244, Christchurch (J. A. Orr).
Fund Managers: Alliance Capital Management (to 22 March 2002), AMP Henderson Global Investors (NZ) Limited, BT Funds Management (NZ) Limited, Lazard Asset Management Pacific Company (to 22 March 2002), Marvin and Palmer Associates Inc. (to 22 March 2002), Merrill Lynch Investment Managers (to 22 March 2002), Tower Asset Management, Russell Investment Management Limited – Russell Internations Share Fund (appointed 22 March 2002).
Custodial Trustee: J. P. Morgan.
Fund Investment Advisors: Frank Russell Company (NZ) Limited.
Bankers: WestpacTrust.
Solicitors: Chapman Tripp Sheffield Young, P.O. Box 2510, Christchurch (L. Alexander).
Trustees’ Report for the Year Ended 31 March 2002
Objectives of the Trust and Charitable Company Subsidiary
To provide charitable, cultural, philanthropic and recreational benefits to the communities of Canterbury, Marlborough and Nelson.
Policies and Structure of the Trust and Charitable Company Subsidiary
These organisations are structured to include community representatives from the three regions. Their policies are to manage and distribute their income and capital to the community they serve.
Activities of the Trust
During the period under review, the trust and its charitable subsidiary have provided financial assistance to a wide range of community groups in Canterbury, Marlborough and Nelson. In addition to responding to applications for assistance, these organisations have initiated several new projects of benefit to community groups.
Trustees’ Remuneration
During the period, the trustees of the trust received fees of $133,945 (2001 $139,975).
Review of Results and Financial Position
The total distribution from the trust and charitable company was $19.5 million (2000 $19.0 million) donations to community groups during the last 12 months.
Signed on behalf of the Board of Trustees:
Chairperson: R. J. TODD.
Trustee: S. S. J. WONG.
Date: 27 May 2002.
Consolidated Statement of Financial Performance for the Year Ended 31 March 2002
| Note | 2002 | 2001 |
|---|---|---|
| Revenue | 3,608,728 | |
| 2 | Less investment fees | 1,983,212 |
| 2 | Less expenses | 1,085,221 |
| Net surplus before taxation | 540,295 | |
| Less retentions: | ||
| 4 | Transfer to capital base reserve | 9,803,417 |
| Available for distribution | (9,263,122) | |
| 3 | Donations to tax approved entities | 13,332,387 |
| Net surplus/(deficit) transferred to trust funds | (22,595,509) |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2002, No 81
Gazette.govt.nz —
NZ Gazette 2002, No 81
✨ LLM interpretation of page content
💰
Eastern & Central Community Trust Incorporated Financial Performance
(continued from previous page)
💰 Finance & Revenue12 June 2002
Community Trusts Act 1999, Financial Performance, Income, Expenditure, Trust Capital, Donation Reserve, Investments, Fixed Assets, Cash Deposits, Interest Rate Risk, Audit Report, Net Current Assets, Community Payments, Donations
💰 The Community Trust Consolidated Financial Statements
💰 Finance & Revenue27 May 2002
Community Trusts Act 1999, Financial Statements, Trustees, Trust Deed, Financial Performance, Donations, Trustees Remuneration
- R. J. Todd, Chairperson of The Community Trust
- S. S. J. Wong, Trustee of The Community Trust
- R. J. Todd, Chairperson
- S. S. J. Wong, Trustee
💰 Trust Directory for the Year Ended 31 March 2002
💰 Finance & Revenue27 May 2002
Trust Directory, Trustees, Trust Manager, Accountants, Taxation Consultant, Auditors, Fund Managers, Custodial Trustee, Fund Investment Advisors, Bankers, Solicitors
17 names identified
- R. J. Todd, Chair of The Community Trust
- D. C. Close, Trustee of The Community Trust
- D. W. Dormer, Trustee of The Community Trust
- B. G. Hadlee, Trustee of The Community Trust
- L. H. Jeffs, Trustee of The Community Trust
- F. M. Jessep, Trustee of The Community Trust (Marlborough)
- B. Lowe-Johnson, Trustee of The Community Trust
- P. H. Malone, Trustee of The Community Trust (Nelson)
- M. E. O’Connor, Trustee of The Community Trust (Nelson)
- P. J. Richardson, Trustee of The Community Trust
- P. J. Sigglekow, Trustee of The Community Trust
- S. S. J. Wong, Trustee of The Community Trust
- W. P. Ward, Trust Manager of The Community Trust
- M. J. Hadlee, Accountant for The Community Trust
- O. M. Wallis, Taxation Consultant for The Community Trust
- J. A. Orr, Auditor for The Community Trust
- L. Alexander, Solicitor for The Community Trust
- R. J. Todd, Chair
- D. C. Close, Trustee
- D. W. Dormer, Trustee
- B. G. Hadlee, Trustee
- L. H. Jeffs, Trustee
- F. M. Jessep, Trustee (Marlborough)
- B. Lowe-Johnson, Trustee
- P. H. Malone, Trustee (Nelson)
- M. E. O’Connor, Trustee (Nelson)
- P. J. Richardson, Trustee
- P. J. Sigglekow, Trustee
- S. S. J. Wong, Trustee
- W. P. Ward, Trust Manager
- M. J. Hadlee, Accountant
- O. M. Wallis, Taxation Consultant
- J. A. Orr, Auditor
- L. Alexander, Solicitor