CHAIRMAN’S REPORT 2020
The Trusts Community Foundation (TTCF) continues to derive an immense amount of satisfaction from the support we are able to provide for the many communities in which we have a presence.
It has always been about local distribution for this Foundation and it always will be.
In the last financial year ending 31st March 2020, TTCF returned just under $11 million or 44.84% of its net revenue to authorised purposes. The directors did have a really difficult decision to make at our last Net Proceeds Committee meeting on the 23rd of March i.e. do we retain funds in anticipation of a Covid-19 lockdown or do we continue supporting the various worthy causes that were sitting in front of us. In the end it came down to our desire to meet our moral and legislative obligations and as they say the rest is history.
The distribution was also well balanced among the four main categories of grants as is illustrated in the table below i.e. Community Wellbeing (41%); Education (16%); Environment, Heritage & Arts (12%); and Sport & Recreation (31%). The TTCF board consciously adjusts its funding strategies to try and best match each region’s local needs and priorities.
TTCF, like all funding agencies, never have enough available funds to support every single application that we receive and while I and my fellow directors do place a lot of priority on helping as many as we can, there are always some that are going to miss out. I sincerely hope that even though this Foundation has not been able to help, other funding providers have been able to step up to the mark in a lot of instances.
Our online application system is fully operational and in fact applicants are only able to submit their applications to our Grants Office via this system from this point onwards.
Online gambling websites remain the biggest threat to the Class 4 Gambling sector and dare I say it the flow-on effect is always going to be a downturn in community funding. While the Department of Internal Affairs (DIA) has signaled its intention to block and/or regulate the online gambling sector we are yet to see any results.
As always, TTCF directors and management wish to acknowledge management and staff at all of our very loyal venues for their continued support, as well as maintaining professional operating standards. We are also privileged to be able to receive input from publically elected trustees of member Licensing Trusts and the likes regarding applications received from within their local areas.
As your new Chairman I also wish to acknowledge the input from my fellow directors, and also the TTCF team for its dedication and hard work. This has been a particularly challenging time, especially with the whole hospitality sector being put into enforced lockdown for 8 weeks. The viral pandemic crisis and economic disruption will be a true test of governance, directors, boards and chairs going forward.
I wish to take the opportunity to thank the past Chairman Ross Clow, who has worked tirelessly for the community as an elected member of the Portage Licensing Trust and on the TTCF Board for numerous years. His knowledge and expertise within the community will be greatly missed.
New Zealand is very fortunate to have this particular funding model available to support community groups in every part of the country. Whilst our primary role is to be a part of the funding model, I never cease to be amazed by the dedication and community spirit that prevails throughout this wonderful country and I thank each and every one of you for playing your part in making it the best place in the world right now.
Warren Flaunty QSM
In accordance with Section 109 of the Gambling Act 2003, the Net Proceeds Committee of The Trusts Community Foundation (TTCF) Limited has conducted an annual review of the criteria, methods, systems and policies it uses for consideration of applications for the distribution of net proceeds.
The results of this review, approved on the 1st July 2020, are that the objective of TTCF to maximise the proceeds that are applied to Authorised Purposes remains unchanged. Likewise, TTCF’s policies are considered to be working effectively to meet this objective.
- Application are to be completed online.
- The Foundation currently holds 11 funding rounds per annum and the close off dates for each round are strictly adhered to. We strongly advise that Applicants check these dates against their project needs. Relevant dates may also be checked on the Foundation’s website.
- The online application and documentation must be completed & uploaded by midnight on the advertised closing date for each funding round. The ‘Consent to Audit & Declaration,’ with signatures, are to be emailed to email@example.com.
- On receipt, applications are checked for completeness and compliance. The Net Proceeds Committee of the Foundation then consider each application on a monthly or regular basis.
- An application will usually take up to six weeks to be processed.
- After applications are considered by TTCF’s Net Proceeds Committee, applicants are notified in writing of the decision or if further information is required.
Applicants should be aware that the ultimate decision on funding rests with the Foundation’s Net Proceeds Committee. There are no guarantees that the full amount of the application will be granted or that the application will be supported at all.
If you are a successful applicant, you must only spend the funds on the purpose for which they were applied for. Furthermore, the approved grant is based on the quotes/suppliers and/or contracts for employees submitted with the application. These suppliers/quotes/contracts must be used when expending the TTCF grant. If for any reason a change is required, prior approval needs to be sought in the form of a letter or email request sent to the TTCF Grants Office, accompanied by a quote(s) from the requested new supplier(s) or copy of signed contract for new employee(s).
Applicants are required to provide proper accountability to the Foundation once the funds have been spent. Such documents shall include, but not be limited to, receipts, tax invoices and copies of bank statements. Applicants may also be required to undergo an audit to ensure they have fully complied with the terms and conditions under which the funds were provided.
Failure to comply with these requirements will result in a demand for a return of the funds and/or all future funding applications being declined. The Foundation is required to use best endeavours to pursue the recovery of funds that have not been spent in accordance with the purpose for which they are given.
Any complaints should be directed in writing to: General Manager, The Trusts Community Foundation Ltd, P O Box 27041, Shirley, Christchurch 8640. All complaints will be acknowledged.