During the past year the Trust received $10,670 in donations. The Capital Account grew to NZD440,352; AUD7,200 and STG22,296 comprising cash, debenture notes and bonds, shares (New Zealand and international) and property. We have, over recent years, reduced our exposure to the property market and currently property accounts for less than 4% of our total portfolio.

Raising additional capital is a continuing challenge and it is a challenge we accept.

Since its inception the Trust has made a total of 347 grants ranging in value from $159 to $2,500. They cover a huge range of endeavour; from helping with the cost of tertiary studies to facilitating attendance at Outward Bound; from recognition of sporting achievement to assistance under the Rotary Youth Leadership Exchange programme; from helping an aspiring jockey to buy his saddle to contributing towards the cost of research connected with a PhD thesis. We continue to be encouraged by what our children and grandchildren are achieving. Clearly they come from very good breeding stock.

Our website www.evsayouthtrust.org.nz continues to attract considerable interest and to date it has received in excess of 13,500 ‘hits’. I acknowledge the professionalism of our webmaster Wayne Cribb. Wayne is barrister who has an interest in website design. He works for gratis and we thank him for that. His company website is www.cybersurfer.co.nz. I commend him to you.

We are continuing efforts to make contact with NOK regarding our offer to designate bursaries in the names of those who fell in Vietnam as a living memorial to their sacrifice. I am pleased to report that, to date, fourteen families have taken up the offer.

In November the Trust was granted Affiliate status by the Royal New Zealand Returned & Services Association. This will give the Trust further status in our dealings with both central government and other organisations.

Over the years we have encountered difficulties (and costs) in sending cheques to grant recipients. Starting with the March 2011 funding round all distributions will be by way of direct credit to the recipient’s nominated bank account.

Finally, we have recently processed an amendment to our Trust Deed regularising the payment of grants to eligible persons living outside New Zealand.

Can I conclude by acknowledging my fellow trustees; Echo Lillicrap, Kate Leys, Brian Cudby and Rod Baldwin. Thank you for your help and support so freely given. It is a pleasure to work with you.

Ross Miller, MNZM, JP
BOARD CHAIR

10 January 2011