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Some musings on things

Dive into Trillian Trust’s Grantmaking

25/3/2025

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I’m taking requests, and, not naming names, I’ve been gently nudged into looking at Trillian Trust.  I was somewhat surprised to find on my computer a file, spreadsheets and a few years analysed.  Then I remembered I had started to look at them, but felt there wasn’t enough data to be interesting.  They restructured into a different entity in 2020 and took their previous grants off their website.  Now we have four years of complete data.  I’ve downloaded their newer data off their website, cleaned it up and classified it by sector / subsector and region. 
 
So who is Trillian Trust?  At the top there are five men making the grant decisions.  Below copied from their authorised purpose: my highlights added.
  • Promotion of any amateur sport where that sport is conducted for the recreation of the general public. This includes, but is not limited to, the provision of ground fees, equipment and uniforms for amateur sporting clubs and teams. No donations and/or payments to professional sports people.
  • Donations for cultural educational purposes that are of a non-commercial nature.
  • Donations for educational advancement through grants to schools or other educational institutes for equipment or the development of better student amenities not covered by government funding, including playground equipment etc.
  • Donations to recognised charitable organisations to further the objects of those groups.
  • Promoting, controlling, and conducting race meetings under the Racing Act 2003, including the payment of stakes, and the provision and maintenance of public amenities primarily used for race meetings.

Interesting what is missing: that’s a reference to returning grant monies to the areas they were generated from.  This is somewhat addressed in the FAQ (copied):

Trillian Trust endeavour to return as much funds as possible into the area in which those funds were raised, however, funding is also provided to organisations that operate nationally.

As at the end of December 2024 Trillian Trust were managing 22 venues: 14 in Auckland, two venues in Thames Coromandel and one venue in Carterton, the Far North, Hamilton, Manawatu, Napier and Christchurch.  This is up two venues from 2020.  

Last financial year (31 July 2024) they gave away around $14 million, down a wee bit ($700k) from 2023, but up from (Covid affected) 2021 when the number was a little shy of $9m.  

Where does the money go to? 62% of Trillian’s funding goes to Sport.  Almost 8% goes to education: although of course a fair bit of this education support will go to sport, but, unless there is an underlying club for the school’s sport team, its impossible to classify into the correct bucket.


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Sport breakdown?  Wow these guys love football!  I guess this isn’t news.
Value
2021
2022
2023
2024
TOTAL
Football
 2,165,059      
1,867,981 
2,772,183
2,294,155 
9,099,377
Rugby Union
 412,819    
1,108,957
756,168
787,961
3,065,904
Rugby League
656,305
533,672
493,234
210,008
1,893,219
Basketball
350,140
400,239
468,421
386,252
1,605,053
Cricket
232,942
129,182
758,591
389,111
1,509,836
Hockey
300,006
267,708
441,526
423,245
1,432,485
Boating
125,935
156,244
281,894
619,422
1,183,495
Venue
221,999
314,024
298,154
339,761
1,173,938
Horse Racing
40,000
244,650
445,238
314,000
1,043,888
Other Sport
1,081,788
1,296,836
2,428,238
2,840,633
7,647,494
Total Sport
5,586,993
6,319,491
9,143,647
8,604,548
29,654,680
We have some history with a Martin van Beynen piece on Stuff in 2022.  Martin did a great job of pulling some of the strands together with relationships of top football club Auckland City FC, Central United and Trillian Trust.  So which are the football clubs getting Trillian’s support?  44% of that footie money has gone to clubs associated with Auckland City Football Club.  (Note Super City Youth is a now dissolved entity – see this article for more).
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Auckland City FC’s income looks largely the same as when Martin van Beynen looked at it.  You can check out their accounts on Societies, but that will show you they have an income of just over $1.1m.  Granted.govt.nz tells me that Trillian are pretty much the only funder of this club.  And their own website tells me they have a whole 12 teams and membership of 400.  So looking at this: In 2024 Trillian subsided each team to the tune of $52k.  Each member to the tune of $1,576.  They have wages of $852k.  Heck – when my husband was running a footie club we had about the same number of teams and members – all funded on subs (curiously a line item not on Auckland City FC’s accounts!) and a bit of support from a generous sponsor.  Nary a salary in sight.

I’m not going to repeat the analysis here, but I did benchmark a year or two ago.  The club in the Mainland Football catchment with the most pokie subsidy was Nelson Suburbs at a $5,078 subsidy per team over 47 teams.  I reckon the lead in the van Beynen article still stands: Auckland City FC is New Zealand's top amateur club. Yet it can't shake the rumours that it's in fact a club of professionals masquerading as amateurs.  I also think NZ Football needs to figure out a better operating model for its top clubs. 

Anyhoo – back to Trillian Trust.  The clean was pretty simple as there were many rows of the same entity.  Below I have looked at the top ten organisations by number of grants.  Trillian have no limits on the number of times you can apply.  

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So Blue Light Ventures fill in 25 applications per annum.  Tino Rawa restore wooden boats: quite lovely but Trillian is THE ONLY funder of this entity.  This is feasible, but this pokie doesn't disclose conflicts so its a challenge to understand the why of these grant patterns. 

I spent too much of my summer preparing a database for a wee database I was hoping the DIA would pick up to give them some better information to proactively manage risks.  They don’t know who actually owns the venues which house the pokies.  So I plodded through the 1,100 or so venues, figured out who owns them through a search of MoJ's (incomplete) database of liquor licenses, or MPI’s (much better) database of food licenses.  I then searched up every commercial entity to see who were the directors / shareholders of said entities within the past decade or so.  I captured that in a spreadsheet, and try to keep it up to date as I have all the commercial entities on a Companies Office watch list.  Really need better hobbies.

I then intend to search all the humans on the list to see their interests.  Under the legislation, venues cannot have a say in where funding goes.  But, despite several complaints, I haven’t seen a behaviour change in the way grant money is allocated, so assume that its all good.
 
I spent about an hour or so looking for some linkages here.  Here’s one.  A chap who is an owner / shareholder of a Trillian Trust pub.  Very strong ties to Auckland City FC AND Central United FC, who together in the last 4 years got almost $3.6m from Trillian.  Oh – and he was a former director / shareholder of the now defunct Super City Football Academy – an entity that, according to Granted.govt.nz received $792k solely from Trillian in the years 2019 – 2022.  To be clear, I’m not saying there is a situation where the venue is influencing where the grants go.  But its probably worth a look.

The other thing I noticed about Trillian was some money ending up down south.  You probably noticed that Horse Racing appears on the “most funded sport” list.   Below is a pie chart looking at the locations for that funding.  Trillian only has one South Island venue, in Christchurch.  They did have one in Tasman in 2021, but that’s nowhere near Winton.  There is nothing in their Authorised Purposes to say that they give back to where the funds are generated, but I can’t understand why they felt the needs of nine Southland harness racing clubs which do not operate nationally (and why they bothered to apply) outweighed the needs of organisations operating in the area their venues are situated.  

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If we look at all their grants, Auckland does get the lions share of their available funding: around 83% of total Trillian Trust funding goes to Auckland entities.  

I write about this stuff as believe that as need to understand where funding comes from, where it goes, and how it gets there.  No one else seems all that interested.  As a citizenry we allow both those supplying money and those asking for money to operate, and as a community we need to ensure we have oversight over the organisations they choose to fund.   Love to talk with you if you think this is at all interesting, and if you want to dive into the data a bit more than happy to do so. Check out my website http://www.delfi.co.nz/
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Rātā Update 2024

7/3/2025

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Looks like I now take requests.  My one regular reader asked me to have a gander again at Rātā Foundation, which is Canterbury, Marlborough, Nelson and Chatham’s Community Trust.  This Trust was set up by Central Government almost forty years ago when the regional Trust Banks were sold to Westpac.  The money was then put in a perpetual trust.  Government then appoints trustees to oversee both the investment, and the distribution of monies.

I wrote about Rātā last in 2021.  My moans then still apply: copied below.

First things first: I’m moaning about the data.  I use publicly available information, and over the years its got worse in terms of disclosure.  Two years ago multi year grants were identified and the time span given.  Now, not so much.  This year I am throwing in the towel over allocating multi year funding over several years as I’m having to make far too many assumptions.  What this will do is mess up the view of sector allocations on an annual basis.  So the chart below shows the multi year allocations 2018 and 2019, but sadly not 2020.  I’m not sure that this will affect the story at a high level, but will mess up if I start drilling down too much.

I’ve also given up on trying to figure out if spend is for operational purposes or capital.  This information used to be published, now its not.  It’s a shame, as is helpful for understanding funding of community assets.  Grant decisions used to be published within weeks after the decision was made: now we have to wait for the annual report, in some cases up to 17 months, to see how the community funding decisions are made.  Another useful piece that gaming trusts publish but these guys don’t is declined applications.  That helps to give a view of where the organisation is making resource trade-offs and in my nerdy opinion can be pretty interesting.

So, nerd that I am, I downloaded the grants, cleaned and classified the data.  Only took a week.  Below is the last eleven years of Rātā grants (backing out the $25m Special Earthquake fund).  What is rather interesting here is the drop in sport and the rise in community and economic development, which is 2020 made up around 38% of grants made.  Over the last seven years the average was 29%.   Sporting clubs are not the flavour of the month at the moment: in 2024 Sport made up 8% of all grants, in 2014 that figure was 18%.  I have no issues with this.  Sport has plenty of places to go to for grants: many pokies are set up specifically for sport grant making.   
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Looking at a single year’s grant making is a little tricky with Rātā : as mentioned they do a bit of multi year funding (which is great: should reduce cost to serve for those getting the grants) but don’t disclose – at least that I could find – who receives it and how much (not so good).  As a result, I will look at the last three year in the below work.

The biggest beneficiary of Rātā funding is the organisers: Sport Canterbury, Sport Nelson.  We have a few venues with support, and then the usual suspects: rugby, cricket, basketball, boating, netball and football.  But a big surprise to me is the support of boxing: in the last three years Rātā has given $365k to various boxing entities.  They have given a tidy $395k over the past five years to the Canterbury Brain Collective so I guess the consequences of the boxing funding is taken care of.


The top ten funded organisations in 2024 are below: as previously stated some of this will be operational funding in a multi year, and some capex.  
Charity
2024 Grant
Hokotehi Moriori Trust
$500,000
Tasman Environmental Trust
$450,000
Terra Nova Foundation
$385,700
Ngati Mutunga o Wharekauri Iwi Trust
$379,741
CORE Education
$337,562
Stopping Violence Services (Christchurch) Inc
$335,000
Community Law Canterbury/Te Ture Whanui O Waitaha Inc
$315,000
Nga Hau E Wha National Marae Charitable Trust
$300,000
St Lukes Samoan Assembly of God
$300,000
Te Ora Hou Otautahi Inc
$300,000
Grand Total
$3,603,003
Sport isn’t where its at for Rātā  however.  You may be scratching your head over the Community and Economic Development flag.  Yes it’s a catch all, and yes it will include multi year funding or capital.  I can’t tell the difference from the published documents.  Below shows the top 10 organisations who have received funding in the past three years from Rātā :
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Yep some big licks: housing sucks a fair bit up.  So its not just me as a taxpayer, or me as a ratepayer helping out with social housing: its also me as a Canterbury citizen.  

Last time too we had a skew towards the Nelson Marlborough area.  Top of the South has about 23% of the population Ignoring multi-region (another reporting change) the amount staying in Canterbury over the last three years fluctuated between 69% and 76%.  To be fair the Chathams, which of course has a very small population, did pick up a large slice of funding in the 2024 year: you can see that in the $500k to the Hokotehi Moriori Trust.   

Because I have the data I thought it might be fun to look at Rātā ’s numbers of grants over the past 11 years.  I did notice when I was cleaning that there was a large number of new organisations getting support.  And while there is nothing wrong with this, I suspect that (again) we have a bunch of duplication going on with well meaning people starting their own thing rather than work with an existing entity.  

In the 11 years I have data, Rātā  has funded some 2633 entities, in 9721 grants.  35% of all entities getting funding only did once.  The number of grants has more halved from 1240 in 2014 to 568 in 2024 while the amount given has increased by a total of around $2m.  So we have fewer entities getting more money.

Let me know if there are any other grant insights you’d like.  I'm keen to explore cost to serve so have had a look at a history of operating financials.  This analysis EXCLUDES fund management costs, and takes the total admin cost and divides by the dollar value of grants given.  In 2017, the costs per grant made were 16.16 cents.  This means that for every dollar given, it cost 16.16 cents to get that dollar into the community.  In 2025, that cost has gone to 21 cents – up about 25%.  Looking at it another way, if we divide total admin costs by the NUMBER of grants then in 2017 the cost per grant was $3,247.  In 2024 it is $7,882.  This is less concerning (I think) given they now give MORE to FEWER organisations AND have introduced a multi-region tag which means where three grants were published before there is now just one.

My interest was piqued by a Matt Nippert piece in the Herald looking at New Zealand’s highest paid charity executives.  We had a couple of grant makers in this list: not Rātā. My maths puts that the average salary of the top 4.2 staff at Rātā  (as per their accounts) was $192k.  That does seem like a wodge of cash, especially when they paid their fund managers $4.7m to manage the $675m under management.  And if we look back to 2017 the average was $134k.  So that's a 43% increase in top salaries since 2017. For reference, according to my scratchings from Stats NZ data, private sector salaries rose by almost 20% over this period.  According to Google's AI the average CEO salary of a NZ NFP is $123k.

Below is a wee benchmarking exercise looking at entities which give away money, how much it costs to get a dollar out the door, total funds under management and top staff costs.  I tried to take only the costs of grants, excluding investment costs and running costs in the case of the pokie. I looked at the two grant makers identified in the Nippert article, and a couple of other grant makers. The first three entities all have the same model: they are legacy Community Trusts.  Central Lakes Trust manages some pretty sizeable energy assets (and I couldn’t unpick those costs from the Trust costs so their cost to serve is inflated), Tindall Foundation is a family trust with a fair whack of cash in Warehouse shares, and Pub Charity is a pokie whose costs of course are controlled by legislation.  Its also just from the grant maker angle: those seeking grants have costs too which will increase the cost to serve. 

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Missing quite deliberately is Christchurch Foundation.  They had a lot of coverage down here a while back for some big salaries, and to be honest they don’t really give away that much.  Their salaries have been brought back a lot since then, but still: the job of the CHC foundation, I would argue, is a lot harder than a perpetual trust like Rātā .  As anyone in the philanthropic game will tell you, it’s a lot easier giving the money away than getting it in in the first place.  Also missing is any local or central government benchmarking: those figures are well buried.  What’s Lotto’s cost to get a buck out the door?  Christchurch City Council’s?  I’d hazard its probably a bit higher than this.  And I have seen some very high cost to serve in some smaller lawyer run funders: sometimes the management cost is more than what they give away. I admit to being a little surprised at the similarity of cost to serve and top staff costs across the Community Foundations.  I suspect they likely all use the same reports around remuneration: although that’s likely not the NGO category that is benchmarked. If Rātā could do the job for Pub Charity's cost to serve, then as a community we'd be almost $2m better off.  Is the extra cost worth the result?  I don't know.  Thoughts?

I write about this stuff as I believe that we need to understand where funding comes from, where it goes, and how it gets there.  As a citizenry we allow both those supplying money and those asking for money to operate, and as a community we need to ensure we have oversight over the organisations they choose to fund.   Love to talk with you if you think this is at all interesting, and if you want to dive into the data a bit more than happy to do so.  Shout out for any requests, and check out my website http://www.delfi.co.nz/
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