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Summer update
You are receiving this email because, as Chief Executive of BayTrust, I thought you may be interested in receiving a quarterly update on what is happening at BayTrust.
It has been a very busy and challenging year for both our communities and the team at BayTrust as we work through Covid-19 implications, escalating house prices and climate change implications just to name a few of our current challenges! The Team at BayTrust are looking forward as I’m sure you all are to having a break over Christmas and spending time with our loved ones whilst we review our learnings from 2021 and come back stronger than ever in 2022.
Personnel Changes
I would like to welcome Te Aorangi Murphy-Fell from Eastern Bay of Plenty as our newest Trustee. Te Aorangi brings youth and a willingness to learn with a special interest in investment management. His passions include Te Reo Māori and Tikanga Māori plus giving back to te ao Māori and his community. Having completed a Bachelor of Management Studies (First Class Honours) (BMS(Hons)) he will be an asset to the Trust.
The Trust also welcomes Brooke Aldridge onto the team as an intern working one day per week for 12 weeks for work experience. Brooke is in her third year of studying full time at the University of Waikato completing a Bachelor of Business.
I would like to say goodbye to two of our fantastic Trustees, Simon Clarke and Kristen Joiner who finish up with the Trust as at the end of December. They have both put in considerable hard work and dedication, as well as diversity of thought over their terms, which is reflected in how well placed BayTrust to help address some of our communities’ biggest challenges.
Final thoughts from Simon:
“I’ve thoroughly enjoyed my tenure as a Trustee on the BayTrust Board and have been grateful for the opportunity to serve the BOP. The Trust is in good heart and has a strong financial platform and capability to accelerate bold and meaningful change in our community. I’d encourage Trustees to continue to take a proactive leadership role to deliver positive impact across our environment, social and culture sectors within the BOP.”
As a result of Simon and Kristen departing, we are now calling for Expressions of Interest for up to two new Trustees, with any appointments likely to be made by the middle of next year. The Minister of Finance is charged with the responsibility of appointing BayTrust Trustees, and each year the Minister invites BayTrust to put forward nominations for suitable people to be considered for appointment as a Trustee.
If you reside within the Trust’s boundary as outlined on our website: https://www.baytrust.org.nz/about-us, have a passion to see our region succeed and align with our values and priorities, you may be motivated to become part of BayTrust. To meet our Trustee criteria under our Trust deed and based on our recent skill set review, we are particularly interested to hear from those that have the following skill sets and attributes:
- Critical Skill Sets – experience in managing a sustainable and globally diversified investment portfolio which includes direct private investments
- Core Skill Sets - strategic thinker with connections throughout the BOP and knowledge of sustainability, impact investments and climate change
- Desirable Diversity – preferably youthful and located within the Taupo or Rotorua region;
To receive an Expressions of Interest form or for any further information, please email yvonne@baytrust.org.nz.
Expressions of Interest close at 5pm on 28 January 2022.
Covid
With New Zealand moving into the government’s NZ Covid-19 Protection Framework (traffic light system), BayTrust has carefully considered how we will operate under this framework in a way that manages the safety of our people, organisations, grantees and the wider community across our rohe, alongside the greater freedoms we will be embracing. All staff are enjoying being back in the office and the increased guidance the traffic light system is providing in terms of meetings out in the community.
We also continue to support initiatives to encourage higher vaccine uptake and are also exploring opportunities with key partners, on how we support covid recovery. We will continue to keep our communities up to date on our response to Covid-19 as and when needed including from a funding perspective.
Climate change
BayTrust has joined the majority of the other Community Trusts of Aotearoa New Zealand in signing a Funders Commitment on Climate Action. This commitment is the initial result from the formation of a Climate Change Working Group established by the Community Trusts’ Chief Executives with support from The Centre for Social Impact.
We know that the important role community funders play in building better outcomes for our environment and communities and the working group aims to explore ways to work together on climate change issues, including how to support a just transition to a net zero world.
The commitment is designed to be a high-level document that other New Zealand philanthropic funders are encouraged to sign up to. To read the full commitment and join the efforts, please visit www.climateactionaotearoa.co.nz.
2021 and Future Grants
Year to date we have paid out $4,622,344 in grants and approved a further $6,175,450 to the end of November with a granting success rate of over 80% and the granting spread equitably over our region and across our priorities. Many of these grants were multi-year with groups enjoying the surety of funding from and which moving to a 3-year rolling forecast has made possible. Please check out some of the great projects and organisations we have funded over the past few months. https://www.baytrust.org.nz/grants-decisions/id/274.
With our move to a rolling 3-year grants forecast which we update quarterly, our expectation from our $250m+ investment portfolio is for the Trust to grant ~$26.5m over the next 3 years or ~$8.8m a year which is well above the average of our last three years granting of $6.8m. This additional funding will allow us to invest more in our key strategic priorities of Housing, Kaitiakitanga and Inclusive Growth whilst continuing to support our core and traditional funding areas in Community Wellbeing and Tu Māori Mai.
The Board recently approved three years of multi-year funding to Sport BOP of $2.523m as part of a current 9-year agreement. This funding can be used for overall costs acknowledging that the CoachForce programme will generally be the first funding priority for both parties.
Combined Community Trusts conference – “To accelerate bold meaningful change”
BayTrust will be hosting the above conference in May 2022 with Cambridge Assoc as the conference naming sponsor. This is one of the most important activities on the Combined Community Trusts calendar and is an opportunity to focus on critical issues of local and national philanthropic interest and importance as we partner with communities and organisations throughout Aotearoa New Zealand. Attended by over 200 Staff, Trustees, Chief Executives and Fund Managers.
The 12 Combined Community Trusts of NZ are the custodians of over $4 billion dollars of investments and collectively grant over $140m back into thousands of organisations NZ wide every year.
Impact Investments
BayTrust continues to invest locally in impact investments, those investments that provide a social or environmental benefit alongside a monetary return. We use these investments as another way to create positive impact in our communities. Housing is one of our focus areas and we have made some significant impact investments in this sector lately. We are working with Habitat for Humanity Central Region alongside Government investment to establish a Progressive Home Ownership scheme in the BOP area which would see whanau/families able to enter into a rental agreement in a new home that would eventually enable the family to buy it. We continue to investigate the potential for a Housing Equity Fund that will attract investment from ourselves, other philanthropic funders and commercial investors to make a significant impact on the housing issues. This alongside the additional investment into Tauranga Community Housing Trust earlier this year means our housing investments are looking to reach 10% of our total investment portfolio in the near future.
Looking ahead
As we look ahead, we will continue to communicate and focus on rolling out our strategic priorities which align with our Purpose of accelerating bold meaningful change assisting BOP communities and the environment to flourish, with specific priorities in relation to:
- Actioning our climate change plan & developing a BOP carbon farming/climate offset programme;
- Driving towards a truly sustainable investment portfolio by 2030 where all our investments are consistent with a low-carbon, prosperous, equitable, healthy and safe society;
- Continue to invest heavily into the housing sector and look for gaps where our investment will make a meaningful difference;
- Partner with Maori/Iwi;
- Invest in the NZ impact investment and social enterprise ecosystem.
Office closure
The BayTrust office will be closed from 24 December 2021 and be available again from 5 January 2022, however for anything urgent over that time please feel free to contact me.
Lastly, myself and all the BayTrust team wish you and your whānau a happy, safe and covid-free festive season and as always, I am available on my email (alastair@baytrust.org.nz) and by phone (021 921 737).
Kia toi tū te taiao
Kia toi te hua mākohakoha
Kia toi tāngata e!
Haumi e, hui e, taiki e!
Ngā mihi
Alastair Rhodes
BayTrust CEO
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