Porirua District Fund
Nikau Foundation is delighted to welcome Porirua District Fund as a new sub-trust to be managed by Nikau Foundation on behalf of the Porirua community. The Porirua District Fund has grown from the $5.5m of remaining assets of Trust Porirua.
Porirua District Fund – The story behind the Fund
In 2018, Porirua Community Trust engaged an independent Trust consultant, Mark Cassidy, to review management of the assets of Trust Porirua and options for the future. The strong recommendation from Cassidy’s review was that the most effective option would be that the assets be transferred to a sub-trust administered by Nikau Foundation, Wellington’s community foundation.
Trustees at the Porirua Community Trust have, over the past few months, been seamlessly working with Nikau to transfer the assets across.
Nikau Foundation is committed to ensuring that the original charitable purpose of Trust Porirua continues with the Porirua District Fund. Our aim is to utilise our investment expertise and to continue to grow this fund for Porirua and for future generations.
It is great to have several Porirua Trustees continuing on with the Porirua District Fund committee and assisting Nikau with the strategic direction of this Fund and the focus of the area’s grantmaking.
Funding clinics will be announced soon for the Porirua District Fund, with the first grants round opening in August 2019.