| Located at 1358 Eruera Street,
the Trust's office is a building of remarkable local history.
Renovated to its original (inset) 1930's architectural
style, it is a place the whole community can treasure
- now and in the future.
The Rotorua Energy Charitable Trust
was established on 3 June 1994. It was created so that
some of the funds born out of the corporatisation of
the Rotorua Electricity company could be retained and
used for the benefit of the community in Rotorua and
the surrounding districts.
Where the Trust
gets its money
On 1 September 1994, the Trust received $16,675,340
fully paid up ordinary shares in Rotorua Electricity
Limited, amounting to 51 per cent of the issued voting
capital. The shares were valued at $32 million at that
time.
Investing the money wisely means the
Trust continues to get its income from the interest
and dividends paid on a range of strategically placed
investments. This money is then returned to the community
in the form of donations.
The Trust's original capital of $32
million has grown to more than $134 million today, with
more than $57 million having been invested back into
the local community.
Objectives
-
Annually distribute a
portion of income that is appropriate taking into
account the investment goal and cash requirements
of the Trust.
-
Communicate the availability
of donations, the donations policy and guidelines,
and application process to the community on an ongoing
basis
-
Identify organisations
and projects that undertake charitable or energy-related
charitable activities, and ensure that they are
considered for donations.
-
Ensure donation application
forms are readily available.
-
Ensure that donation applications
are considered within three months of receipt.
-
Require recipients of
donations to meet accountability requirements established
by the Trust.
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