Wellington Community Fund

The Wellington Community Fund received $44 million in 1996 from the sale of Trust Bank. In the past it has funded many great initiatives such as Zealandia. But sadly today Zealandia would not get any support, as the trustees (mainly appointed by the last Government) have decided that 95% of their grants must go to Maori groups, climate action orgs or to Pacific peoples, Middle Eastern, Latin American or African groups.

There is a pattern with all these trusts that got funded by the sale of Trust Bank. They have all gone from broadly funding all worthwhile community activities, to only funding those that fit their self imposed criteria of disadvantage and exclusion. And it’s not that they are say putting 25% or even 45% of their funds towards those groups – they are doing close to 100%.

Maybe it is time to wind up the trusts, and just give the funds to every household in the region.