Trust and Foundation giving
Most trusts and foundations have an asset base, and returns from the capital investment is given in the form of grants or donations. There are two main kinds of trusts and foundations:
Structured Philanthropy and High Net Wealth Individuals
This form of giving is often done through a charitable trust or foundation. In 2018, J B Were’s New Zealand Support Report estimated this giving to total almost $300 million which is around 8% of total philanthropy and grantmaking. This estimate does not include the giving from university and other tertiary institutions that give from their own funds.
Statutory trusts and foundations
A unique aspect of New Zealand’s philanthropic sector is the large number of statutory trusts which have an explicit statutory or legal imperative to give. They include community trusts, energy trusts, licensing trusts, gaming machine societies and the Lottery Grants Board.
Governance of trusts and foundations
Trusts and foundations are governed by trustees who may be an authorised trustee company, family and friends of the benefactor, qualified professionals, or a mixture of the above.
Trustees for community trusts are appointed by the Minister of Finance. Trustees for the energy and licensing trusts are elected.