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The Gliding NZ Umbrella Trust was established on 10 June 2012 in order to become the vehicle by which all the various gliding trusts that exist throughout NZ could consolidate their investments into one trust. Consolidating the individual capital sums from the various trusts into a worthwhile amount has maximised investment returns, and allowed more professional management of the trusts’ funds, giving better accountability. The objectives of the Trust are to:
- provide support to the sport of gliding within New Zealand
- provide support to New Zealand glider pilots participating in international competitions
- establish and administer separately named funds within the Trust Fund to fulfil the wishes of individual donors who wish to support the sport of gliding within New Zealand
- accept and receive grants of money or payments or in kind for the furtherance of the purposes of the Trust
The current Trustees are Karen Morgan, Grae Harrison, Hadleigh Bognuda, Mark Tingey and Roland van der Wal. with Laurie Kirkham engaged as Secretary/Treasurer and Tom Davies as Loans Officer.
Trustees make decisions on funding twice a year in November and June – the deadlines for grant applications are 31 October and 31 May each year. These dates have been chosen to coincide with 6 monthly financial reporting and so that all applications can be considered together. Please note that applications in retrospect of an event will not be considered.
The Umbrella Trust has a number of funds within its structure, and each has specific purposes built into its trust deed or founding documentation. The Trustees have to operate within a set of rules, and do not have discretion to make grants which do not comply with the various donees’ intentions.