What is the BayTrust?
The Trust was formed in 1988 as the Trust Bank Bay of Plenty Communty Trust to hold shares in the Trust Bank Group for the benefit of Bay of Plenty Communities.
In 1996 this share, along with all the other shares in the Trust Bank Group, was sold and the sale proceeds of approximately $90m invested by the Trust. The Trust's name was changed by dropping the Trust Bank in 1998 and changed again to BayTrust in March 2006 to give the Trust a shorter more easily remembered name.
What area does the BayTrust cover?
There is a specific legal definition but broadly, our Area is from Katikati to Turangi to Cape Runaway including Rotorua, Taupo, Tauranga and Whakatane.
Where does the Trust get its money?
The Trust has approximately $131m invested in a carefully planned, diversified way, both locally and globally. Returns from these investments form the Trust's income.
The Trust also welcomes bequests from public-spirited people who wish to leave legacies for the benefit of Bay Communities.
What does the Trust use its income for?
Primarily to make grants to community groups serving the Bay, in order to help build, strengthen and enhance local Communities.
In the year to March 2008 the Trust paid out grants totalling over $4.03m to groups serving Bay of Plenty Communities.
The Trustees aim to re-invest enough income each year to cover inflation and population growth in the Bay of Plenty, plus in good income years to put some funds aside to cover grants in poorer income years.
Please take this opportunity to view keypoints of our Strategic Plan.
Who's involved in the Trust?
The Trust comprises a Board of 12 Trustees Chaired by Ms Paula Thompson.
Trust Office Staff comprise Bruce Cronin - Trust Manager, Norma Kelly - Grants Advisor, Jeanne Jooste - Administration Assistant & Penny Dudfield - Casual Assistant.